Rare Fungus 'Caterpillar Gold' Skyrockets in Price, Sparking Scarcity and Uncertainty
The price of a rare fungus, Ophiocordyps sinensis, also known as the caterpillar fungus, has skyrocketed in China. In Beijing and Shanghai, it has doubled in price by the time it reaches these cities. In Yushu, the market is abuzz with activity, reminiscent of a stock exchange, as prices fluctuate minute by minute.
Artificial cultivation of the fungus has been achieved, with Sunshine Lake Pharma successfully growing it in labs. This could ease pressure on wild populations, but it may impact the livelihoods of local pickers who rely on the annual harvest for their sole income. The fungus is a result of a unique symbiotic relationship between a ghost moth and the ophiocordyps fungus.
Prices vary greatly depending on quality. High-end cordyceps can fetch over six figures per kilogram, with the best quality reaching up to $110,000. Pickers search for the fungus at high altitudes in Qinghai, China, near the elevation of Everest's Base Camp. However, overharvesting and climate change have led to dwindling supplies, making the fungus more valuable than gold.
The caterpillar fungus's price has soared due to scarcity and high demand. Artificial cultivation offers a solution to preserve wild populations, but it poses challenges for local pickers. The future of the fungus and those who depend on it remains uncertain.
