Vanilla Market Update: November 2025 - Madagascar Vanilla Sector Outlook
The Madagascar vanilla sector is entering one of its most dynamic periods in recent years. Here's what's shaping the market right now - and what it means for the 2025-2026 campaign:
Strong 2025-2026 Crop Already Harvested
Last season's production fell by more than 30%, but the 2025-2026 crop has now been fully harvested and confirmed as strong, with volumes aligned with earlier expectations. Beans are currently progressing through the curing and conditioning stages.
Flowering Is Lower, But Doesn't Affect the Current Crop
Field observations across Sava (Sept-Oct 2025) indicate reduced flowering compared to previous seasons. However, this has no effect on the already harvested 2025-2026 crop.
Large Global Carry-Over Continues to Pressure Prices
An estimated 2,680 tonnes remain across Madagascar, Europe, and the United States - keeping bargaining power firmly with buyers of wholesale vanilla beans.
Two Major Policy Shifts Improving Stability
- CNV has been dismantled - meaning the former 4 USD/kg fee no longer exists
- U.S. import tariffs are now back to 0% - restoring duty-free access for vanilla entering the American market
These changes reduce pressure on the supply chain and support healthier trading conditions as the sector advances through a strong 2025-2026 campaign.
As a Madagascar vanilla supplier, we see this as an important moment for vanilla beans importers and buyers: regulatory clarity and stable policies will be key for the months ahead as Madagascar's vanilla landscape continues to evolve.
