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The price of vanilla increase sharply
Madagascar
Tuesday 29 August 2017
FJ
As the world leader in vanilla production, this year Madagascar is experiencing a significant drop in its volumes and a significant increase in prices.
After the Enawo cyclone, which had damaged many crops, industry professionals had forecast a tension on prices (our info of 22.03.2017).
The average price of vanilla pods in Madagascar (80% of the world's vanilla) rose from 50 USD / kg in 2012 to around 500 USD / kg in 2016 and 750 USD / kilo this year.
This explosion of prices attracts covetousness, which also leads to a decline in quality. Indeed, to avoid being robbed of a harvest the producers pick vanilla well before its maturity and the yields collapse. Previously, it was enough 4 kg of green vanilla to obtain 1 kg of black vanilla, now it takes 7 or 8 kg.
With the limited supply of Madagascar, industrialists and professionals are turning to other producing regions, such as Indonesia, Uganda, Papua New Guinea, Reunion Island.
source : consoglobe.com, francetvinfo.fr
