Vanilla Is The 2nd Most Expensive Spice. So Why Do Madagascar's Farmers Live In Poverty?

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Vanilla is one of the world's most expensive spices 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." MORE BIG BUSINESS VIDEOS: How Mexico Grows Limes On Orange Trees To Supply The US | Big Business | Business Insider https://youtu.be/4wGVWQyLE94 How 5,000 Villages Keep Rare Crafts Alive In Vietnam | Big Business | Business Insider https://youtu.be/wNbtUDd7Sjc Why Food Commercials Cost Hundreds Of Thousands Of Dollars | Big Business | Business Insider https://youtu.be/FBP-DxfZCgo ------------------------------------------------------ #Vanilla #BigBusiness #BusinessInsider Business Insider tells you all you need to know about business, finance, tech, retail, and more. Visit our homepage for the top stories of the day: https://www.businessinsider.com Insider Business on Facebook: https://www.facebook.com/businessinsider Insider Business on Instagram: https://www.instagram.com/insiderbusiness Insider Business on Twitter: https://www.twitter.com/businessinsider Insider Business on Snapchat: https://www.snapchat.com/discover/Business_Insider/5319643143 Insider Business on TikTok: https://www.tiktok.com/@businessinsider Vanilla Is The 2nd Most Expensive Spice. So Why Do Madagascar's Farmers Live In Poverty? | Big Business | Business Insider