TCM material exports up 25 pct Jan to Nov 2010
Shanghai. January 17. INTERFAX-CHINA - China's exports of raw and processed traditional Chinese medicine (TCM) materials hit $660 million in the first 11 months of 2010, up 25 percent year-on-year, the China Chamber of Commerce for Import Export of Medicines Health Products announced Jan. 17.
Ginseng topped the list of raw TCM materials with exports worth $36.22 million over the period. Exports of lycium chinense (Chinese desert-thorn), cordyceps sinensis (caterpillar fungus), radix glycyrrhiza (dried licorice roots and stems) and chrysanthemums all increased by over 40 percent tear-on-year.
The chamber attributed growth to the growing popularity of TCM abroad.
A total of 1,263 companies exported TCM materials over the period, of which 52.8 percent were private companies, 24.4 percent state-owned enterprises (SOE) and 22.7 percent foreign-owned companies.
The Shenzhen subsidiary of Japan's Tsumura Co. was the largest exporter, followed by state-owned CNTIC Trading Co. Ltd. and privately-owned Anhui Xiehecheng Chinese Herb Ltd.
Monthly exports of TCM materials to Japan, the largest destination, exceeded $10 million, and 80 percent of traditional Japanese medicines over the period were made with raw materials from China. Exports to South Korea exceeded $8 million per month.