Gov. Scott Walker today announced the Ginseng Board of Wisconsin signed an agreement with a Chinese medicine company to use the trademark seal on their purchases of Wisconsin ginseng from the Ginseng & Herb Coop over the next 10 years.
The agreement was signed between the Ginseng Board of Wisconsin, the Ginseng & Herb Cooperative and the Beijing medicine company Tong Ren Tang (TRT) Health Pharmaceutical.
“This agreement is outstanding news for Wisconsin’s ginseng industry,” Walker said. “Renewing the contract between the Ginseng Board of Wisconsin, the Ginseng & Herb Coop, and TRT has the potential to bring in $150 million to $200 million in sales. I am proud that Wisconsin ginseng is being recognized around the world.”
Wisconsin produces virtually 100 percent of all cultivated American Ginseng in the United States. The Ginseng Board of Wisconsin brand is registered in several Asian countries, including China, Japan, Taiwan, Singapore, Malaysia and Hong Kong.
“This agreement will strengthen and enhance the relationship between the Ginseng Board of Wisconsin and this reputable Chinese partner,” said Ben Brancel, secretary of the Wisconsin Department of Agriculture, Trade and Consumer Protection, who is also participating in the state’s trade mission to China. “TRT’s purchase and use of this unique Wisconsin agricultural product will ultimately benefit our state’s farmers.”
The Ginseng Board of Wisconsin and the Ginseng & Herb Coop started the relationship with TRT in 2009. TRT sought out Wisconsin Ginseng because of its reputation for being the “gold standard” of Ginseng in the world.
“This is an industry-first to have an ‘exclusive’ brand use relationship with a high-end distributor in China,” said Butch Weege, international marketing director with the Ginseng Board of Wisconsin. “Our current relationship has had a significant impact on prices being paid for Wisconsin Ginseng and has helped returned profitability to this industry in Wisconsin.”
To learn more about the state’s China mission trip, visit www.inwisconsin.com/chinamission2013 or follow on Twitter at #WIGovChinaTrade.
