Value Chains
Analysis and intelligence from The Ledger.

The Million-Rand Black Market in South Africa’s Tiny Desert Plants
Tiny plants, international collectors and an extraordinary black market. Inside the economics of South Africa's disappearing desert succulents.

The South African Tea That Almost Lost Its Own Name
A $10 trademark, a million-dollar legal battle and an indigenous crop that became a global export business.

The $1,000 Sweater Starts in the Karoo
South Africa dominates the global mohair trade, but much of the industry's final value is captured further downstream. We follow the journey from Karoo goat to luxury sweater.

The Economics of Coffee: Competition, Espionage and Value Extraction
From Yemen's monopoly to the modern coffee value chain — how coffee lost control at origin and where value moved instead.

Sweet and Sour: Why Record Cocoa Prices Left West Africa With a Bitter Aftertaste
Why record cocoa prices did not translate into proportionate gains for West African farmers.