It is no surprise that oranges are sold on the streets of China, but have you ever thought that their peels can also become a business worth crores? Yes, in Xinhui area of Guangdong province, the business of dried orange peels, called Chenpi, is so hot that people are becoming rich by selling them. The price of 10 year old peels is Rs 12 thousand per kg, whereas 50-60 year old peels are sold for lakhs. The demand in the market is so strong that the stock becomes out-of-stock as soon as it is listed. This is not a new trend, but a centuries-old tradition which has taken a new form of investment today.
After all, what is Chenpi? These orange or mandarin orange peels are aged by drying them in the sun. Green oranges are picked and peeled, then dried for 3 days to several years. The older the peel, the more sweet, bitter and aromatic the taste. In Traditional Chinese Medicine (TCM), it is considered a panacea for improving digestion, relieving cough, clearing the lungs and treating cold and cough. It contains elements like nobiletin, hesperidin which boost immunity. It is also used in the kitchen. Chenpi is consumed with beef, orange chicken, tea or mixed with spices. But today its real market is in medicine and investment.
tremendous demand
Xinhui is called ‘Chenpi Capital’. There are thousands of acres of orange orchards here. Every winter, farmers dry the peels, then store them for aging. Peels of 1-3 years old are sold cheaply (about Rs 600-1000 per kg), but those of 10 years old reach up to Rs 12,000. Those of 30 years are sold for Rs 1 lakh per kg, and those above 50 years are sold for Rs 8 lakh (about $10,000) per kg. In 2023, a 1968 Chenpi was sold for 75,000 Hong Kong dollars (about Rs 8 lakh) in the Hong Kong auction.
These peels are very special
Now the question is why are they in such demand? The TCM market in China is expected to reach $500 billion by 2025. After Covid, people are relying more on herbal medicines. Chenpi is used in tea, capsules or powder. Its export has also increased. Now organic food is in trend in America and Europe. But the real earning comes from hoardings. Housewives dry the peels at home and store them and sell them after 5-10 years. A fruit vendor told that the prices of these peels have increased 6 times in the last 5 years. Investors are running factories but its supply is less. As soon as it is listed on e-commerce, it gets sold immediately.
is easily prepared
It is also very easy to make it at home. Wash oranges, peel them (remove the white part), dry them in the sun for 5-6 days. Then keep it in an airtight jar. It becomes usable after 3 years but the value increases after 10+ years. But it is also important to be careful in this. For good quality, organic oranges should be used otherwise oil will come out. In China, production through machines has increased but handmade ones are sold the most expensive. Now gradually its market is increasing in India also.
