
| Licorice price is up and going higher |
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Licorice lovers are set for a surprise when they make their next purchase. Due to a change of circumstances in China, the world's biggest producer of the root which is the key ingredient in licorice, the price per kilogram is rising dramatically. Land that has been used traditionally for growing the licorice root is now being used for growing a more profitable crop, cotton. This has made the licorice root more and more difficult to collect. As part of the problem, the Chinese government has also reduced the number of licences issued for harvesting the precious root, thus restricting supply and with a harsh winter, the price we are paying for a favourite treat has been forced up. Although it is the confectionery and tobacco industries that have been the biggest purchasers of the root, the cosmetic industry is increasingly using licorice and it is now being considered a source of mono ammonium glycyrrhizinate (MAG) which is a good match with Stevia in the growing natural sweetener area. It takes up to four years for the plant to produce roots that can be harvested and for many years Iran was the source of the world's best roots. With a war and prolonged harvesting in Iran, western China is now the leading source. Licorice also has recognised health benefits, so an increasing scarcity is only going to add to the price. |