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What could stabilize the global vanilla market after years of price volatility? #Uganda #soexpensive
What could stabilize the global vanilla market after years of price volatility? #Uganda #soexpensive
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Субтитры (30)
0:02
These farmers are arming themselves to
0:04
stop thieves from stealing one of the
0:06
world's most valuable spices,
0:10
vanilla.
0:12
In its boom years, the average price of
0:14
vanilla hit $300 per kilogram.
0:20
For years, one country has dominated the
0:22
industry,
0:23
Madagascar.
0:27
It has historically accounted for about
0:29
80% of the global vanilla supply.
0:32
So, if anything threatens the country's
0:34
harvest, prices will skyrocket even
0:37
more,
0:38
like they did in 2017, when vanilla hit
0:41
a record high of nearly $600 per kilo.
0:46
But, this country is offering an
0:48
alternative.
0:50
In just 5 years, Uganda has become the
0:53
second largest vanilla exporter by
0:55
volume.
0:56
And if Uganda's production continues to
0:59
grow, it could lead to more affordable,
1:01
stable prices.
1:04
Now, big brands like Ben & Jerry's
1:06
[music] are even using Ugandan vanilla.
1:09
So, how did vanilla become such an
1:11
expensive spice?
1:13
And can Uganda step in to help stabilize
1:16
global prices?
