Why big brands are turning to vanilla from Uganda

Vanilla is so valuable that it's been called "green gold." At its peak in 2017, prices reached nearly $600 per kilo, making it the second-most expensive spice in the world. But by 2024, prices had crashed to roughly $50 per kilo. That volatility stems from one major factor: The world depends heavily on Madagascar, which has historically supplied about 80% of natural vanilla. When storms, theft, early harvesting, or policy changes hit Madagascar's crop, the entire global market feels it. Now, ...