Why you can buy orchids for $5
October 18 , 2013
Orchids used to be pricy in the past but that changed, thanks to the Taiwanese entrepreneurs and their approach to "the energy and methods applied to making consumer electronics."
The industry, which dates back to the 1980s, stopped producing sugar and began to grow orchids instead since it was believed to be more profitable.
"An intricate orchid-production chain" was formed and several independent growers began to oversee the steps related to the production and repackaging of the flowers.
Interestingly, Netherlands makes the maximum amount of profit off orchids while Taiwan is the leading exporter without playing any significant role in the sale.
The production of the flower has now become so efficient that costs continue to come down. "An orchid is no longer worth what it used to be," a grower said. "We learned how to grow them too well."