If Im right, I think you are refering to Moringa, which is actually a tree, which can grow as high as 10m. The leaves are known to be full of vitamins and minerals like beta-carotene, vitamin C, protein, iron, calcium, phosphorus, and potassium.
Other parts of the tree are used medicinally in the treatment of rhuematism, venemous bites and other similar conditions and also have antibiotic properties.
However, most importantly, I understand that science recently discovered how to extract an oil that may be used in bio-fuels in the very near future.
Source(s):
http://www.bukisa.com/articles/68653_the-miracle-tree

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MALUNGGAY - is a miracle vegetable by many who know malunggay beneficial uses.It is cultivated in all countries of the tropics. It is easy to plant and is available year round. Malunggay is not just a food, it promotes good eyesight,digestion and facilitates bowel movements and is a cure for stomachache.It is also used to cleanse wounds and ulcers.It helps alleviate scurvy and asthma.

http://www.malunggayherbtea.com/
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It depends on where you saw or heard the expression used. Many vegetables have been called miraculous, and a Google search for "miracle vegetable" turns up four different choices on the first page alone:

--Molokia, thought to be an aphrodisiac by the ancient Egyptians

http://www.monstersandcritics.com/lifestyle/life/news/article_1360258.php/Egypt_s_miracle_vegetable_goes_global

--Eggplant, for its nutritional value including antioxidant, antimutagenic, antibiotic, antiviral, and cholesterol-reducing properties

http://ezinearticles.com/?The-Miracle-Vegetable---Eggplant&id=927117

--Malunggay, also known as moringa or sajina, has high nutritional value and is considered an underutilized resource with high agricultural potential in underdeveloped countries

http://www.agribusinessweek.com/malunggay-the-miracle-vegetable/
http://www.peopleandplanet.net/doc.php?id=3577
http://www.stii.dost.gov.ph/sntpost/frames/julytosept04/pg41.htm

--Broccoli, which according to a recent study may protect against peptic ulcers and stomach cancer

http://www.wddty.com/broccoli-the-miracle-vegetable-prevents-stomach-cancer.html
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