SunSirs: Sanqi Market Breaks the Ice and Rises

https://www.chemnet.com   Jun 08,2023 SunSirs

According to past practices, the weather in June turned hot, and the Chinese herbal medicine market entered the off-season. The trading of goods slowed down, and the variety market would perform lukewarm and lukewarm. However, this year's market performance was abnormal, with popularity still gathering and hot varieties constantly emerging. The market prosperity scene has been rare for many years.

On June 6th, the Chinese herbal medicine index was 2412 points, an increase of 39 points compared to yesterday, setting a new historical high in the cycle, and an increase of 147.38% from the lowest point of 975 points on November 25, 2019. (Note: The cycle refers to June 30th, 2019 to present)

According to the monitoring of the Commodity Market Analysis System of the SunSirs, in the first half of June 2023, there were a total of 4 products that rose or fell in the price list of traditional Chinese medicine, 3 products that fell, and 1 product that rose or fell to 0. The main commodities that have increased include: Angelica sinensis (+13.45%), Panax notoginseng (+4.65%), and Codonopsis pilosula (+3.60%); The main commodities that fell were: Forsythia suspensa (-3.80%), goji berries (-1.16%), and honeysuckle (-1.11%).

According to the monitoring of the Commodity Market Analysis System of the SunSirs, there has been an increase in customers who have inquired about goods recently. The actual transaction has resumed to be more active compared to the previous few weeks, and the market situation has increased. Currently, the price of Sanqi 120 heads is between 120-130 RMB/kg, a slight increase of 4.65% compared to the beginning of the month.

According to the monitoring of the Commodity Market Analysis System of the SunSirs, there has been an increase in customers who have inquired about goods recently. The actual transaction has resumed to be more active compared to the previous few weeks, and the market situation has increased. Currently, the price of Sanqi 120 heads is between 120-130 RMB/kg, a slight increase of 4.65% compared to the beginning of the month.

Due to factors such as funding, hoarding, weather, and policies, this wave of 37% increase has been caused. However, the implementation of the land policy is expected to take some time, and at the same time, the demand for Sanqi has weakened, making inventory difficult to digest in the short term. Business analysis suggests that if Sanqi prices want to return to high levels, they still need to wait for the supply and demand relationship to reverse.

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