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00:00:00
it's an ice cream cookies and cake and now the nella is the second most expensive spice in the world after saffron a kilo of vanilla beans costs five hundred and twenty dollars pricier than a kilo of silver or walk you beef that's because Madagascar which produces nearly eighty percent of the world's vanilla has been hit with widespread crop Taft end to devastating cyclones in two thousand seventeen in two thousand eighteen which destroyed about thirty percent of the island's vanilla crop the result soaring prices and an industry struggling to adapt Reuters correspondent rich and I do any company that buys natural vanilla is being hit by this %HESITATION that we can just from Nestle the General Mills to McCormick McCormick is the biggest spice company in the world and they're one of the biggest %HESITATION vanilla by is the world so what they're doing is they're trying to cultivate and new source of an ally in Matt in in Indonesia the two thousand seventeen cyclone made them realize that actually it's pretty risky to to source all of this very important material from one island in the world is cyclone prone but McCormick's better in Indonesia as the next big vanilla producer might be tricky to pull off currently Indonesia produces about one hundred pounds of the nella you're a far cry from Madagascar's output of over two thousand pounds that's because vanilla is not an easy crop to cultivate they have to be hand pollinated %HESITATION in during a four hour window pre dawn the %HESITATION need certain soil and water conditions they need to be grown for about ten to twenty degrees from the equator %HESITATION and which is why they're only grown in certain parts of the world %HESITATION the nineteenth and %HESITATION it takes about three to four years before %HESITATION , of a new vanilla plan can even start producing beans in the meantime McCormick and other food companies like Nestle and General Mills are grappling with vanilla prices that have surged five hundred percent in the past four years sometimes passing on those higher costs to consumers and retailers so you might have to keep that craving for vanilla ice cream this summer in check