Nanyang wormwood takes lion's share of domestic market

The annual output of wormwood in Nanyang reached 6,200 tons in 2017, accounting for more than 50 percent of domestic output, according to statistics provided by the National Bureau of Statistics.

Dubbed as China's Genetic Bank of Wormwoods, Nanyang has 48 varieties of wormwoods in the city and has a long history of utilizing its medicinal properties to treat patients. In recent years, Nanyang has tried to convert this advantage into a market niche.

So far, more than 280 wormwood enterprises, 1,100 family workshops and 2,000 e-commerce merchants in Nanyang have thrown themselves into the cause, netting an annual turnover of 3 billion yuan ($459 million).

Over the decades, Nanyang's wormwood industry not only holds onto the traditional products, but also has innovatively developed new products such as wormwood essential oil, tea, perfume and skin care products.

Its products cover a wide range of drug, food and daily necessities, controlling over 80 percent of the domestic wormwood market and are exported as far as Japan, South Korea and European countries.

To further enhance competitiveness, Nanyang companies have pumped capital into scientific research and cemented cooperation with universities and medical institutions. Over 80 percent of wormwood-related patents in the country were registered by locals.