CRI听力:The Dongchong Xiacao Speculation in China

'Dongchong Xiacao', the Mandarin name, might be the most descriptive of all. It translates as 'winter worm, summer grass'.

The fungi germinate only in caterpillars in the grasslands of Qinghai-Tibetan Plateau, which covers Tibetan Autonomous Region, Qinghai Provinces as well as parts of Sichuan, Gansu and Yunnan.

During hibernation, the fungus devours the caterpillar larvae from inside out. And when the snows melt and the body of the insect mummifies, the fungus grows poking out of the ground.

During spring time it is harvested and has to be collected manually.

Doctor Pan Chaoxi claims it can be used to treat a variety of medical conditions.

"It is good for the kidneys and lungs. And it can treat backache caused by weak kidneys. It's good for limps originating in the waist and knees. And, it will help those with sexual dysfunctions. It also helps with coughing up blood."

Some people, the doctor says, have been hoarding the fungus as a speculative investment.

But, he warns against putting too much faith in this fungus's medical properties and says it needs to be used within two years.

"You cannot just decide on your own whether you need the fungus to cure asthma. Most obese people suffer from asthma. So, it's wrong to have that thinking. People store the fungus at home, and they shouldn't. It's not like storing gold. Gold will never rot or decay. Storing the fungus for a long time is not good for its medical properties."

With overall inflation on the rise in China and traditional medicine increasing in popularity, the caterpillar fungus is certainly a lucrative business.

But the intense trade has led to over-foraging, and the Qinghai-Tibetan plateau's delicate environment has been put under a great amount of stress.

Part of this comes from the fierce competition for harvesting rights among different communities, as well as the increasing arrival of outsiders in the picking season.

A few experienced pickers like Gong Bu have abandoned it following the advice of local monks.

"The pollution is very serious. Now, in my hometown the water has almost dried out. The grass is also dying, also dry. This is very bad for us in the Tibetan areas. And our lama, our living Buddha, told us to never dig out the fungus, even if we don't have anything to eat for three days in a row and we are starving. We should not pick the fungus for money."

But with prices soaring, speculation on the Chong Cao seems inevitable. In the big coastal cities of China, prices can start at 40,000 yuan per kilogram, and at the highest end of the retail chain, the best specimens can fetch up to 360,000 yuan per kilo.

For CRI, I am Li Dong.