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

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."

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