Vanilla is the second most expensive spice in the world. Vanilla is an orchid endemic to Central and South America. Vine plants were smuggled from Mexico to Europe in the 18th century and then planted in Réunion, where a young slave discovered how to hand-pollinate them. Today, adjacent Madagascar contributes 80% of global supply. Because vanilla is still traditionally hand-pollinated, it is the world’s most expensive spice after saffron. For years, demand has outstripped supply. Buyers are seeking for additional supplies, including Colombia. Currently Vanilla farmers in Colombia are selling Vanilla pods for more than 2.5 million peso per kilogram. That is around 600 $ for one kilogram. And it is a sweet deal for them, vanilla is 100 times more expensive than for the same weight of tuna. Tuna fishing is another available job for Colombian farmers.
Most Colombian vanilla is not pollinated by hands of the farmers but by bees and it gives it a specific scent. This is also lucrative for the perfume industry. Recently MANE, the giant perfume maker, purchased samples to analyze .The director says that the charm of vanilla stems from its eco-friendliness, which many consumers appreciate. The vine wraps around trees, giving communities an economic incentive not to cut them down.
Source: Economist
