I’ve been trying to hold out until prices start returning from the stratosphere before I buy a new batch of vanilla beans. But it’s been over a year now, and the future ain’t lookin pretty.
For the time being, will have to make do with the extract I have on hand. (I usually make a a couple of cups or so at a time, so there’s still enough to last several months.)
Vanilla price reaches record high after Madagascar cyclone
Financial Times April 24, 2017
Vanilla pods are trading at an all-time high of $600 a kilogramme…
Prices for vanilla, which is not traded on an exchange, had already surged over the past year thanks to speculative hoarding and rising demand as more consumers shun artificial flavourings and ingredients. The price climbed from about $100 a kg in 2015 to $450-$500 at the start of this year…
Vanilla pods grow from tropical vines, and it takes about three years for a plant to mature and produce beans. Unlike crops harvested annually, “it doesn’t have a quick bounce back”…
Last year, production was hit by drought, and traders were hoping that output would recover in 2017. The cyclone has already erased any uplift in production.
Vanilla Price Surge Hits High-End Ice Cream Consumers