Growing global demand for natural ingredients and supply insufficiency have caused Madagascar vanilla prices to skyrocket by nearly 500% in the past four and a half years, making it more expensive than silver.
Madagascar produces about 80% of the world’s vanilla, mainly in the northern region of Sava, notorious for the cultivation of the Bourbon vanilla variety.
Since 2015, the wholesale price of the spice has risen nearly 500 percent, partly because of growing global demand for healthy, natural ingredients. But the main reason behind the skyrocketing prices is supply. Cyclones, drought, and crop-theft have hit Madagascar in recent years, slashing into the tender crop’s quality and quantity.
The Price of Non-Split Madagascar Vanilla Bean
World's Biggest Vanilla Producers
The Cultivation Process
