The vanilla industry professionals, whether planters, collectors, or exporters, are finding it difficult to sell their vanilla stocks.
In fact, since October, sales have been three times lower than last year, while 620 tonnes of the precious black Malagasy bean were sold on international markets.
Faced with this critical situation, vanilla exporters held a new meeting on Monday in Madagascar to discuss a common marketing strategy.
At the closed meeting, one of the exporters explained that the current structure no longer works. Another said that political pressure is mounting on the sector, especially in the pre-election period.
The meeting was held due to the call of the Minister of Industry and Trade, Edgard Razafindravahy, who is aware of the crisis in local and international vanilla purchases.
According to several exporters, the government’s price option of $250 per kilogram could be accepted.
Alternatively, international buyers could form a consortium to buy vanilla.
The final decision will be taken by the exporters at a meeting scheduled for 3 April.