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Reporting from Sava, Madagascar, August 2008
First of all, some figures.
The green vanilla markets, which opened a month ago, went up to more than $2/kg, and the bulk market went from 60,000 FMG to 125,000 FMG, or $3.70 to $7.80.
In export terms, this means that export prices at the beginning of the season should be technically around $25/$30, and later on above $30. With an international market at $32 for US extraction grade, including freight, it means the new crop is costing what the international market is offering: this is called stability, a non-vanillalike word.
The crop that has just been cured will presumably be somehow a little above 1,000 tons.