A worldwide shortage of vanilla pods could send prices rocketing this summer. The cost of the spice has remained at approximately $25 per kilo for the last six years, but following poor harvests in India and Mexico and opportunists stockpiling the spice, in the past two months the price has already gone up to $30 per kilo. Experts believe the price is likely to climb further.
Vanilla is one of the world’s favourite flavours, and one of the most expensive (second only to saffron) due to its time consuming production.
Vanilla is an important ingredient for both ice cream and confectionery, and this rise in price is likely to see many manufacturers start using synthetic vanillin.
Source: Confectionery Production