Millettia speciosa planting prospects and 2020 price forecast analysis

Millettia speciosa is a precious traditional Chinese medicinal herb; it is the root system of the beautiful millettia vine, resembles a sweet potato in appearance, and has the effects of tonifying deficiency and moistening the lungs and strengthening the body, offering great benefits to the human body. Let's take a look below at the 2020 Millettia speciosa price forecast analysis, and how the planting prospects are.

1. 2020 Millettia speciosa price forecast analysis

The price of Millettia speciosa changes according to market demand. For example, at the beginning of 2019, most people bought only a small amount or did not buy at all, so the price was relatively cheap, with the woody type at around 15 yuan; in April, as large quantities of new goods began to reach the market, the price showed a small decline, with the general goods priced at around 35-40 yuan; after July, there was a large supply of goods on the market, but there were fewer buyers, so the price declined slightly, with the woody type at around 13 yuan. The price of Millettia speciosa in 2020 may follow a trend similar to that of 2019.

The spot price in 2019 was around 10-15 yuan per jin, while the price of the dried goods was between 33-35 yuan. The price in 2020 may not differ much from the price in 2019, and there may be small fluctuations up or down. Prices differ for different qualities and specifications, and everything is subject to the actual situation.

2. How are the planting prospects in 2020?

As market demand for Millettia speciosa has increased in recent years and wild resources have been over-harvested, Millettia speciosa is now one of the scarce medicinal herbs, with a large shortage gap, so the market prospects for planting Millettia speciosa are very good. However, the history of artificial cultivation of Millettia speciosa is relatively short, and since it takes 3-4 years after planting to harvest, the planting risk is relatively high, and farmers who plant it need to be cautious.

The price of Millettia speciosa may not see a relatively large decline in the next few years. On the one hand, this is because the shortage gap is relatively large, and on the other hand, because the planting time is relatively long, so the planting prospects are still very good.