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A GREATLY EXPANDING MARKET: AFRICA'S PLACE

Africa must enter the regulated market for plant-based medicines in the industrialized world by conforming to rigorous international standards:
• Between now and 2010, the international market for natural products will reach US $100 billion. Up to now, Africa has derived less than 1% of the revenues generated by this industry.
• The WHO estimates that 4 billion people, representing 80% of the world's population, use medicinal plants.
• A large proportion of medicines currently marketed are derived from plants.

The African continent must develop the unlimited economic potential from its natural botanical heritage and seize the opportunities offered by the new markets in medicinal plants.

ESTIMATED REVENUES

nternationally, the trade in medicinal plants is estimated to be worth US $60 billion per year and is increasing at a rate of 7% a year (World Bank, 2004). In spite of its vast forests rich in medicinal plants, Africa realizes only 6.7% of the global market. Worldwide sales of plant-based medication exceeded US $12.5 billion in 1994 and US $30 billion in 2000 (CTI).

Revenues generated by the industrial cultivation of medicinal plants far outstrip revenues generated by agricultural subsistence farming. For example, the herb Rosemary sells for US $1.03 per kilo, while the traditional medicinal plant, artemisinin, sells for US $780.00 per kilo (CTI, 2006).

The BDA Foundation approaches agricultural training not only in terms of local requirements, but also in terms of potential financial return and creating a tangible impact on economic development.