"Goji berry prices are expected to be on a continuous upward trend in 2-3 years"

The goji berry in Ningxia's Zhongning region will be picked at the end of June and become available in July. Due to the low temperatures in this production season, the yield is predicted to be lower than last year and the price will rise accordingly.

"In addition to the weather, many farmers abandoned planting due to unsatisfactory profits, which is also an important reason for the reduction in production."

Mr. Guo Haifeng from Ningxia Baishi Hengxing Food Technology Co., Ltd, talked about the company's main business, including the purchase, processing, domestic and international sales of Chinese goji berries. "In the past three years, goji berries, due to the pandemic and weather issues, have had a lower-quality production than in previous years. There are relatively more supplies with poorer appearance and pesticide residue standards. The overall selling price is low, hitting the farmers' motivation. On the other hand, the national implementation of a series of measures to encourage the planting of grains, means that that the Chinese goji berry planting area is limited."

"In recent years, the income of Chinese goji berry growers was not ideal, and there were even losses. Planting goji berries is labor-intensive. Because the skin is thin and easy to break, it cannot be mechanized and can only be picked by hand. Due to rising labor costs, a shortage of younger workers and the low terminal price of goji berries, many farmers think that the input-output ratio of growing is low and abandoned planting. In addition, because the state encourages the cultivation of grain and provides subsidies to growers, many goji berry farmers have switched to corn, wheat and other grains. As a result, the planting area of goji berries has been greatly reduced in a short period of time."

According to Guo, the goji berry is a perennial crop. If new seedlings are replanted after abandoning the planting, it will take another 6-9 years to reach a high yield. Moreover, according to regulations, goji berries cannot be planted on land where food has been grown. Therefore, Mr. Guo predicts that the price of goji berries will continue to rise due to the sharp drop in production in the next 2-3 years.

"Currently sales are showing a normal upward trend, and prices have begun to rise. Due to the reduced planting area this year, the output of new seedlings will be limited in 3-5 years, and the current price is still low. Therefore, the industry has begun to stock up. I estimate that from the second half of this year to 2-3 years, the price of goji berries will see a wave of big increases."

The export of goji berries in Ningxia is expected to start in mid-August. The export business of Baishi Hengxing mainly focuses on the European and American markets. Talking about the overseas market, Guo said: "With the intensified publicity of goji berries at home and abroad, the overall sales of goji berries have recently been increasing year by year and there is demand in the market. After the pandemic, the economic situation in overseas markets is not good, which makes it more difficult to develop new customers, and the order volume of old customers is basically the same."

Ningxia Baishi Hengxing Food Technology Co., Ltd. is engaged in the purchase, production, processing, and sales of goji berries, and has nearly 10 years of experience in exporting. Export markets include the European Union, the United States, Canada, Australia, and New Zealand. The company has passed QS certification, halal food certification, and organic certification. Goji berry products include bags and gift boxes of different specifications.

More information:
Guo Haifeng (Evan Guo)
Ningxia Baishi Hengxing Food Technology Co., Ltd
Tel: +86 189 9518 1664

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