Medicinal plants await good marketing 

Context: Recently, the Ministry of AYUSH launched e-CHARAK, an electronic platform for interaction between various stakeholders in the medicinal plants sector. It will allow sale, purchase and sharing of material as well as know-how between different stakeholders. In this relation, medicinal plants sector has come under focus.   

Why medicinal plant cultivation has become a lucrative agribusiness in India? 

Increasing use of relatively safe and affordable plant-based remedies for common ailments.  

There has been burgeoning demand from the pharmaceutical, cosmetics, and other industries. About 40% of pharmaceutical products are derived from plants and other natural substances. 

The cultivation of these plants doesn’t require much investment, or large landholdings.  

The cultivation of medicinal plants yields high returns.  

In addition, knowledge of the medicinal plant-specific agronomic practices is now readily available from various sources.  

Many public– and private-sector institutions are providing training in growing medicinal plants.  

The advent of contract farming in the medicinal plant sector has made it more lucrative. The growers have guaranteed buy-agreement of their entire produce at mutually agreed prices.  

Several farmers’ producer organisations (FPOs) and start-ups are now pioneer in this field. They have developed their own brands, exports curative herbs, their extracts, and other products.  

The international demand is growing. For example, India shipped Ayurvedic drugs, skincare products, and other herbal items to Europe and other developed countries. 

Worldwide, 80% people rely on plant-based home remedies for minor health issues and primary health care.  

The traditional health management systems like Ayurveda, Homeopathy, Siddha and Unani have become a regular part of the Indian health care regime.  

Where can India’s plant species having curative traits be found?  

The plant species can be found in the country across 15 well-defined agro-climatic zones. 

They are found in the Himalayas, Western Ghats, and regions unaffected by anthropogenic interventions, like parts of the Andaman and Nicobar Islands.  

In addition, a large number of them are found in botanical gardens located in different phytogeographical regions.  

The natural reserves are being depleted. Therefore, the plants are being cultivated on agricultural fields. For example, Rajasthan, Madhya Pradesh, Uttar Pradesh, Tamil Nadu, Punjab, Chhattisgarh, Andhra Pradesh, and Bihar are important producers of the medicinal plants in India.  

What are the weaknesses in the medicinal plant market? 

The marketing is the weakest link in the value chain of herbal farming. There is dominance of middlemen and lack of transparency in price discovery. 

More reform-oriented interventions are required to allow the medicinal plants sector to grow to its potential. 

Ways Forward 

The BSI, the National Medicinal Plants Board (NMPB) and the National Bureau of Plant Genetic Resources of the Indian Council of Agricultural Research (ICAR) are engaged in conserving and preserving medicinal plants. 

Many states possess ample potential for herbal farming. Their potential remains untapped. 

Source: The post is based on an article “Medicinal plants awaits good marketing” published in the Business Standard on 17th April 2022.