Vanilla Prices Are Volatile. One Country Wants To Fix It.
Vanilla is so valuable that it’s been called “green gold.” At its peak in 2017, prices reached nearly $600 per kilo, making it the second-most expensive spice in the world. But by 2024, prices had crashed to roughly $50 per kilo.
That volatility stems from one major factor: The world depends heavily on Madagascar, which has historically supplied about 80% of natural vanilla. When storms, theft, early harvesting, or policy changes hit Madagascar’s crop, the entire global market feels it.
Now, buyers are looking for another source — and Uganda is quickly emerging as vanilla’s next big player. With two harvest seasons a year, improved quality controls, and growing demand from major brands like Ben & Jerry’s and Nielsen-Massey, Uganda could help stabilize and make natural vanilla more affordable.
So, why is vanilla so expensive? And can Uganda step in to help stabilize global prices?
00:00 – Intro
01:22 – Origins of Vanilla
02:12 – Rise of Madagascar in Vanilla Production
03:16 – Problems Facing Madagascar
05:12 – Uganda as an Alternative Vanilla Source
07:09 – Uganda’s Quality Harvest
09:14 – Uganda’s Quality Processing
12:04 – Global Buyers Sourcing Uganda’s Vanilla
15:03 – Challenges and Future of the Vanilla Market
17:25 – Credits
——————————————————
#vanilla #Madagascar #uganda #soexpensive
MORE SO EXPENSIVE VIDEOS:
Should Organic Food Be So Expensive?
https://youtu.be/bG6bXMhy0Ps
The Real Reason America’s Weapons Are So Expensive
https://youtu.be/oslN3LtaBqI
There’s More Caviar Than Ever. Why Is It Still So Expensive?
https://youtu.be/5Y_5MozNiZk
Business Insider is a global newsroom covering business, technology, innovation, and the economy.
Visit our homepage for the top stories of the day: https://www.businessinsider.com/?utm_source=youtube
Sign up for our newsletters: https://www.businessinsider.com/subscription/newsletter?utm_source=youtube
Find Business Insider on Facebook: https://www.facebook.com/businessinsider
… on Instagram: https://www.instagram.com/businessinsider
… on X: https://x.com/BusinessInsider
… on TikTok: https://www.tiktok.com/@businessinsider
Why Big Brands Are Turning To Vanilla From Uganda | So Expensive
