Traditional Chinese medicine hit by lower prices
Tumbling prices have hit the traditional Chinese medicine industry because of oversupply, poor planning and increased competition.
According to China’s biggest traditional medicine trading website, zyctd.com, the cost of 11 products from a basket of 200 dropped during the week between May 25 and May 31. The wholesale price of a further 183 items remained static, while only six increased.
The major problem facing the traditional Chinese medicine industry is oversupply. “Medicinal herb growers planted more after the boom period when prices went up,” Liu Zhanglin, deputy director of China Chamber of Commerce for Import and Export of Medicine and Health Products, said. “So now there is an oversupply, even though the market is growing.”
Small farmers also stockpiled valuable herbs when wholesale prices were high, hoping to get even more for their products. Eventually, they were forced to flood the market or suffer substantial losses. (Photo 2)
A model made by 3-D printing of the shared hip bone of 12-weekold conjoined twin girls after surgery that separated them at the Children’s Hospital of Fudan University in Shanghai on June 9. The hospital pioneered the use of 3-D printing technology in the surgery, sending data to a 3-D printing company to rebuild the anatomical structure of the conjoined body parts.