2024-08-28 22:19:15
Export revenues of Madagascan vanilla fell in the first quarter this year. The reason is not to be seen in the volumes sold, which have increased, but in the prices.
The money linked to vanilla has actually crashed: less 63% according to the The latest news from the Central Bank of Madagascar, dated August 20, 2024, which has just presented its results for the first quarter of the year, compared to that of 2023.
The fall which can be explained by a government decision: between 2023 and 2024, prices have been liberalized, with a kilo of vanilla which is set at 250 dollars, and which becomes free, with unauthorized land of 40 dollars , which is very quickly establishing itself as a reference price. Only premium podcasts and a few certified levels sold for more.
According to the Malagasy bank, this price is also an indicator of ” stiff competition from Indonesia, India and Uganda on the world market, and product accumulation » on “Red Island”.
Read againMalagasy vanilla: an export campaign that exceeded expectations
4,400 tons exported, a record
With the price falling by more than 80%, revenues for the State can only decline – or 52.9 million US dollars in the first quarter of 2024, compared to 144.9 million US dollars in the first quarter of 2023, according to the Malagasy Central Bank.
The incomes of intellectual producers are not increasing either.
However, this Malagasy period is the same period marked by record exports: + 95% between the first quarter of this year and of last year. Which gives a historical figure for the entire campaign which ends at the end of July: 4,400 tons of vanilla are exported to 2,000 to 2,500 tons in average year.
A new disappointing harvest
These levels are sent to suggest that the company’s buyers have built good products. This should lead to a decrease in purchases in the coming months.
more” watch out for change in the coming year », warns Georges Geeraerts, president of the association of sellers of vanilla from Madagascar: the new harvest that has already started in July promises to be weak and it will be difficult to pay for the products that have probably been sold empty, for levels that have not been seen before. these last six months.
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