A Māori incorporation in the Central North Island has signed a business agreement to work with Chinese investors.
‘Maraeroa C Incorporation’ has been growing wild ginseng for over 7 years and while they're nearing harvesting season, the opportunity to launch the Māori business project into the world's biggest export market has just been signed.
In 2006, Maraeroa C Incorporation in Te Kūiti saw an investment opportunity when wild ginseng became less available around the world.
They took the jump into the unknown and have come out being a favourite with some of China's biggest investment groups.
Wild ginseng is highly sought after in the Asian market. Once its 20 years old, one root could be worth $20,000.
It takes 14 years to reach maturity in China but only seven years in NZ.
The big harvest is in May 2015, but next week Maraeroa C Incorporation will launch their ginseng products in Auckland and will begin exporting internationally in 2016.