Ginseng (Panax Ginseng) - Anybody with an interest in herbal medicine has heard of the herbal root ginseng. Many people can benefit greatly from panax ginseng. This particular ginseng, which is often called Asian, Chinese and Korean Ginseng, is the most widely used type of ginseng. The ginseng root has been used as medicine for dozens of ailments throughout China for more than 4,000 years. The demand for this root is immense; therefore, increases the value to often more than $500 per pound. Ginseng typically takes at least seven years to reach a desirable size, so it is a slow but profitable crop.