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October 3, 2013
BROOKLYN, N.Y. Virginia Dare and SOARARY of Madagascar will implement a new dual strategy to improve the sustainability of the country's vanilla market.
A primary objective of the strategy is to enable farmers to properly cure their own green, or raw, vanilla for the ability to earn additional revenue. To make this possible, the Virginia Dare/SOARARY partnership supplied materials and provided training to approximately 150 growers. The partnership intends to ensure growers access to the international market for higher pricing options.
Working toward access for Malagasy vanilla growers to the international markets is a great way to ensure fair trade and an idea whose time has come," said Howard Smith, Jr., Virginia Dares president. Access should put extra money in growers pockets which should result in a greater commitment, not just to the product itself, but to product quality."
The partnership will also improve food security for Madagascars vanilla growing community by guaranteeing participating farmers access to affordable rice during the annual shortage period. This access can help increase growers vanilla income by eliminating the need to pledge future vanilla production for rice at prices below fair market value.
Virginia Dare also partnered with Shanghai-based We-e Flavors last year to establish a new full-service flavor company based in Shanghai. The joint venture agreement was signed between the two companies on Dec. 31, 2012, and provided Virginia Dare with a successfully established turnkey operation in China.
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