Spice maker McCormick's quest to make your vanilla milkshake cheaper 8:48am EDT [Reuters]
McCormick & Company, Incorporated (MKC)
Last mccormick & company, incorporated earnings: 3/31 06:30 am
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Source: Reuters
Spice maker McCormick's quest to make your vanilla milkshake cheaper - Reuters 7 Min Read CHICAGO/ANTANANARIVO, Madagascar (Reuters) - A kilo of vanilla beans costs more than a kilo of silver. Cultivated painstakingly over years from an orchid plant, vanilla is the second most expensive spice in the world, after saffron. In less than five years, the wholesale price has risen nearly 500 percent, partly because of growing global demand for healthy, natural ingredients. But supply is an issue too: Cyclones, drought and crop-theft have hit Madagascar in recent years, slashing into the tender crop’s quality and quantity. The African island nation produces about 80 percent of the world’s vanilla. For McCormick & Co, the world’s largest spice company, the scarcity of vanilla has become too big a risk to ignore, spurring it to begin cultivating an alternative source on the north coast of Papua, Indonesia. McCormick, which sells vanilla and its extract to retailers, restaurants and packaged fo
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MKC
Earnings
- 3/26/24 - Beat
MKC
Sec Filings
- 5/8/24 - Form 4
- 5/8/24 - Form 4
- 5/8/24 - Form 4
- MKC's page on the SEC website