Why is vanilla so expensive?

Synopsis

Vanilla, a popular flavor used in ice cream, cakes, and perfumes, sees its price fluctuate dramatically. In Madagascar's Northeast region, where 80% of the world's vanilla is produced, farmers like Benny Oh Don benefit when prices rise. In 2014, vanilla reached $80 per kilo, skyrocketing to $600 by 2017, and currently sits around $500. This volatility stems from global demand for natural flavors, as food companies move away from synthetic options. The Malagasy government previously regulated prices, but now they are negotiated at the point of sale, leading to a freer yet more unstable market. The delicate nature of vanilla cultivation, requiring hand pollination and a lengthy growth process, makes it particularly susceptible to price swings. A single cyclone can devastate the entire crop, impacting producers like Charlie Feeney and others in the region. The documentary highlights the challenges faced by these farmers and the economic implications of vanilla's rising costs, including the influence of events like the una prisa decision and the impact of Avatar Tara.