Chinese Medicinal Market Quotes Agarwood Bulk Grade at CNY 220/kg: Origin Provenance and Testing Backing Widen the Price Gap

A modest uptick in bulk-grade quotes

According to pricing pages on the Zhongyaocai Tiandi platform, bulk-grade agarwood crude drug was quoted at CNY 220.00 per kilogram as of Oct 12, 2026, while the platform's Oct 8 page showed CNY 200.00 per kilogram. Converted, that is roughly CNY 0.2 per gram — orders of magnitude away from the hundreds to tens of thousands of yuan per gram routinely seen in collector-grade aromatic material. The two markets cannot be conflated. “Bulk grade” refers to ungraded batches of raw crude drug intended for decoction pieces, extraction processing or incense-stick feedstock, and its price mainly tracks supply and demand on the pharmaceutical and daily-chemical raw-material side.

Origin and testing documentation create visible spreads

Concurrent listings on the same platform make the differences concrete: Hainan-origin qualified bulk grade around CNY 240/kg; full-tested Hainan Haikou supply around CNY 180/kg; full-tested Taiwan-origin supply around CNY 180/kg; and overseas origin around CNY 140-145/kg. Whether a lot carries full third-party testing or pharmacopoeia-compliant inspection paperwork, together with whether provenance is clearly traceable, shows up directly in the price. For buyers, the lesson is that documentation is not an optional add-on — it is part of the cost, even when the goods are nominally the same agarwood chips.

How to read these numbers

Three caveats matter. First, this platform quotes pharmaceutical raw materials for bulk wholesale supply; it cannot be used to infer prices for collector-grade, water-sinking material or kynam. Second, listed prices across batches and specifications on the same platform vary widely, and actual transactions are bilaterally negotiated, so quotes are indicative only. Third, all Aquilaria species are listed under CITES Appendix II: cross-border trade requires the corresponding import and export permits, and domestic circulation should also rest on lawful proof of origin. Understanding these three points matters far more than watching a single price figure.

This article is an industry observation and educational summary. It does not constitute trading or investment advice. Purchase agarwood only through legal channels with traceable, testable provenance.