- Friday 2010-12-10 12:33
December 10 -- Shanghai raised the prices of Chinese medicines by about 44.06 percent yesterday, reports Yicai.com, citing Huo Guiming, manager of Shanghai Qunli Herbal Medicine Store.
Huo said there were price hikes in August and September due to the increasing cost of raw materials for Chinese medicines.
According to data published by the China Association of Traditional Chinese Medicine, the prices of 459 kinds of herbs were raised in October, accounting for 86 percent of the total amount, of which the price of Taizi ginseng surged 612 percent.
Huo added that the tough weather conditions played an important role in the current price hike.
Besides the above factors, Liu Sheng, manager of Yunnan Lvsheng Pharmaceutical, attributed the current price hike to the increase in the prices of agricultural products.
Shares of Beijing Tongrentang (600085), a Chinese medicine producer, gained 1.88 percent to close the morning session at 36.28 yuan.
Source: CaptialVue News
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