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MV NEWS

04Aug

Vanilla Bear Market in Madagascar

Cured finished vanilla farm price went from $500 to $450 to $400 to $350 to $330 to $310 to $300 to $250 to $220 to $200 to $185 to $150 to $135 to finally around $110 today. It will probably go even lower for finished black vanilla at the end of the year. Truly a release valve at last for the bubble, and a lot of dead wood in the supply base will be cleared out as demoralized dilettantes leave the business. A government price control has been erected to attempt to hold the export price at $250 for September 15th’s opening in the midset of COVID. The green season is in full swing in SAVA and the region braces for the hard landing, as small cases of COVID pop up in Andapa and a few places in the east.