finance
Uganda Expands Vanilla Production as Prices Fall from 2017 Peak
Uganda is increasing its vanilla output with two annual harvests and tighter quality controls. Major buyers including Ben & Jerry's and Nielsen-Massey have begun sourcing from the country. The shift follows a steep drop in global vanilla prices after years of reliance on Madagascar.
May 23, 10:05 AM·1m read1 source
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Vanilla prices reached nearly $600 per kilo in 2017 before falling to roughly $50 per kilo by 2024. The decline followed years in which Madagascar supplied about 80 percent of the world's natural vanilla. Business Insider reported that storms, theft, early harvesting, and policy shifts in Madagascar have repeatedly disrupted global supply. Buyers have therefore sought additional sources.
Uganda now harvests vanilla twice each year and has introduced improved quality controls. These steps have drawn interest from Ben & Jerry's and Nielsen-Massey. The two companies are among those increasing purchases from Ugandan growers. Expanded output from Uganda could reduce price swings that have affected both producers and food manufacturers.
Business Insider noted that lower and more stable prices would make natural vanilla more accessible to a wider range of buyers.
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