Name: Vanilla is the world's second-most expensive spice. So why do Madagascar's farmers live in poverty?
Uploaded: 2023-02-04T01:20:00+05:30
Duration: T16M54S
Channel: Business Insider
Description: Vanilla is the world's second-most expensive spice. So why do Madagascar's farmers live in poverty? Video

https://www.businessinsider.in/videos/business/vanilla-is-the-worlds-second-most-expensive-spice-so-why-do-madagascars-farmers-live-in-poverty/videoshow/97588658.cms

Vanilla is the world's second-most expensive spice. So why do Madagascar's farmers live in poverty? Video

Vanilla is the world's second-most expensive spice. So why do Madagascar's farmers live in poverty?

Get the latest news on Business, Startups, Auto, Tech, Stock Market, Finance, Careers, Education, Science, Mobile, Crypto, and Sustainability on Business Insider India.

Business Insider India

Business Insider

Vanilla is one of the world's most expensive spices. That's because it's so labor-intensive to grow. Madagascar is responsible for 80% of the world's supply, and there, each vanilla orchid blooms for just one day a year. Farmers have to hand-pollinate each flower because the plant isn't native to the island. In recent years, the tough work has paid off, as vanilla prices soared to $600 per kilo in 2018. But why, if vanilla outpriced silver, are Madagascar farmers still in poverty? Farmers face fluctuating prices, unfair cuts of profits, and vanilla thieves stealing their crops. We head to Madagascar to see how farmers are trying to protect their "green gold."

Vanilla is the world's second-most expensive spice. So why do Madagascar's farmers live in poverty?

Microsoft is betting big on AI. Company insiders have serious doubts.

Samsung Galaxy Z Flip 6 Unboxing | Galaxy AI | ASMR

How one company in India is turning plastic bags into $100 sneakers

Chemical dipping removes years of paint and rust from vehicles

How to paint a Mustang using soap