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In this unprecedented event, the country’s vanilla exports reached a record 4,400 tons in the 2023-2024 season, a significant increase compared to 2,360 tons in the 2021-2022 season.
According to multiple sources, premium or high-quality vanilla accounts for 10% to 15% of the market and sells for more than $100. This price is certainly much lower than the $250 per kilogram set by the government in 2020, but it has clearly made it possible for the industry to begin to recover. The floor price set for exports paralyzed the industry and was finally abandoned by the authorities in May 2023.
In addition, funds raised by the National Vanilla Council (CNV) totalled 104 billion Ari. This comes from a tax of US$4 per kilogram of vanilla exported abroad. One of the initiatives using this fund is to set up a laboratory dedicated to monitoring the quality of vanilla before export and to developing protective measures for production farmers.
At the same time, the market price of vanilla will increase significantly, reaching 30,000 Ariary per kilogram in the producing cities of the Sofia region.
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