Ginseng Board of Wisconsin Responds to Potential Chinese Tariff on American Ginseng
Tariff Threatens Strength of Wisconsin Ginseng Industry
WAUSAU, WI: The Ginseng Board of Wisconsin, a nonprofit organization representing all Wisconsin ginseng growers, is very concerned with the news that China has proposed to retaliate with a 15% duty on Wisconsin ginseng. This duty could be detrimental to our industry as many Chinese distributors have expressed concern that they may have to shift purchases to Canadian ginseng. This 15% duty will also have a negative impact on Wisconsin ginseng that is sold domestically through ecommerce or the Chinatown markets and carried to China as gifts by travelers.
It should be noted that this is a proposal from the Chinese government and this duty has not yet been implemented. The Ginseng Board of Wisconsin is hopeful that the US and Chinese governments can come to an agreement that will eliminate the proposed duty or lessen the impact on the Wisconsin ginseng industry. China is the most important market for the Wisconsin ginseng industry with over 85% of Wisconsin ginseng being exported to China or carried into China as gifts in 2017. This represents over $30 million dollars in sales to Wisconsin ginseng growers.
Wisconsin ginseng is considered the highest-quality American ginseng (Panax quinquefolius) in the world. Wisconsin is the number one producer of ginseng in the United States accounting for about 90 to 95 percent of all ginseng produced in the country, and Marathon County is the top ginseng growing county in the state, producing about 95 percent of Wisconsin’s annual crop.
The Ginseng Board of Wisconsin was established in 1986 as a nonprofit organization representing all Wisconsin ginseng growers. There are approximately 180 ginseng growers in the state. The Ginseng Board of Wisconsin is funded through a mandatory assessment of ginseng acreage under shade. The Ginseng Board of Wisconsin is managed by an elected board of seven ginseng producers. The board functions under a marketing order managed by the Wisconsin Department of Agriculture, Trade & Consumer Protection. Its purpose is research, national and international marketing, new product development and education.
Jackie Fett, Executive/Marketing Director | Ginseng Board of Wisconsin
Phone: 715-443-2444 | Email: email@example.com