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[Reporter Jiang Zhixiong / Yilan Report, February 6, 2009]
Despite the economic downturn, the price of the traditional Chinese medicine "saffron" has skyrocketed, impacting many Chinese medicine shops, with sales dropping by 20%. Shop owners in Luodong Township, Yilan County, have called on consumer protection officials to investigate whether wholesalers are monopolizing supply to artificially inflate prices.
Wang Yalin, a consumer protection official with the Yilan County Government, stated yesterday that the price fluctuations of "saffron" may be a nationwide issue. She urged the Chinese medicine industry to provide more concrete evidence and did not rule out reporting the matter to the Fair Trade Commission of the Executive Yuan for further investigation.
"Saffron" is a commonly used herbal remedy in folk medicine, believed to improve blood circulation, cleanse the blood, and prevent strokes. During the Lunar New Year, when people tend to indulge in rich foods, many consume "saffron" afterward, making it a seasonal remedy. However, consumers have recently found its price shockingly high.
**Chinese Medicine Shops Demand Investigation**
It is understood that in June last year, high-grade "saffron" purchased by Chinese medicine shops from wholesalers cost NT$2,700 per tael (37.5 grams). By last month, the price had risen to NT$4,200, and after the Lunar New Year, it surged to NT$6,000. When sold to consumers, the price reached NT$6,500 to NT$7,000 per tael. Each tael makes ten doses, averaging nearly NT$700 per dose.
"This is outrageous!" said a resident surnamed Lin from Luodong Township, comparing the price of "saffron" to gold dust.
A shop owner surnamed Wu, who runs a Chinese medicine store in Luodong, explained that "saffron" is imported from abroad. It remains unclear whether the price surge is due to shortages in the source country or collective monopolization by wholesalers, but both shops and consumers have become victims of the price hike.
Source: http:/ / www. libertytimes. com. ……9/ new/ feb/ 6/ today- life11. htm
Saffron Prices Soar to 7,000 Yuan Per Tael
Despite the economic downturn, the price of the traditional Chinese medicine "saffron" has skyrocketed, impacting many Chinese medicine shops, with sales dropping by 20%. Shop owners in Luodong Township, Yilan County, have called on consumer protection officials to investigate whether wholesalers are monopolizing supply to artificially inflate prices.
Wang Yalin, a consumer protection official with the Yilan County Government, stated yesterday that the price fluctuations of "saffron" may be a nationwide issue. She urged the Chinese medicine industry to provide more concrete evidence and did not rule out reporting the matter to the Fair Trade Commission of the Executive Yuan for further investigation.
"Saffron" is a commonly used herbal remedy in folk medicine, believed to improve blood circulation, cleanse the blood, and prevent strokes. During the Lunar New Year, when people tend to indulge in rich foods, many consume "saffron" afterward, making it a seasonal remedy. However, consumers have recently found its price shockingly high.
**Chinese Medicine Shops Demand Investigation**
It is understood that in June last year, high-grade "saffron" purchased by Chinese medicine shops from wholesalers cost NT$2,700 per tael (37.5 grams). By last month, the price had risen to NT$4,200, and after the Lunar New Year, it surged to NT$6,000. When sold to consumers, the price reached NT$6,500 to NT$7,000 per tael. Each tael makes ten doses, averaging nearly NT$700 per dose.
"This is outrageous!" said a resident surnamed Lin from Luodong Township, comparing the price of "saffron" to gold dust.
A shop owner surnamed Wu, who runs a Chinese medicine store in Luodong, explained that "saffron" is imported from abroad. It remains unclear whether the price surge is due to shortages in the source country or collective monopolization by wholesalers, but both shops and consumers have become victims of the price hike.
Source: http:/ / www. libertytimes. com. ……9/ new/ feb/ 6/ today- life11. htm