Vanilla Beans Prices in Madagascar predicted to Break Record highs as May 2017 Green Campaign starts with a Shrinked Harvest
As the first Vanilla season for Uganda is closing down this May, the big vanilla business players are now focusing on Madagascar.
The Global Vanilla Prices in 2017 are being predicted to break unprecedented heights and a possible crash thereafter as Madagascar starts harvesting the green Vanilla Beans according a May 2017 report by Canadian Vanilla Importer Aust & Hachmann (Canada) Ltd/Ltee
After a disastrous 2016 campaign, based on the activity we are currently seeing on the ground in Madagascar at the onset of the of the 2017 harvest, we are expecting the situation to deteriorate even further, before we see any improvement.
There is no historical precedent as far as today’s vanilla prices and quality are concerned. We are now in uncharted waters and it remains to be seen how much further industrial buyers in Europe and North America are prepared to pay for vanilla which continues to deteriorate in quality and increase in price. The 2017 Madagascar crop could very well be the worst quality crop delivered to the market in decades.
In Madagascar, even though we are well in advance of the official harvest dates in most regions, green vanilla beans near roads or populated areas have already been harvested.
Only in the most remote villages is there any hope for reasonably mature crop even though growers have little incentive to risk theft by leaving the beans on the vine one day longer then they have to. Cyclone Ewano which devastated the town of Antalaha and surrounding regions earlier this year probably reduced the expected crop size by at least 20%.