Vanilla Crisis
How could the world’s most delicious orchid taste sour? Vanilla crop failures around the tropics are driving up prices for the beans. The world’s second most expensive spice (after saffron) is notoriously difficult to cultivate, and its cost is rising. Vanilla yields have fallen in India and Mexico by as much as 90% this year, leaving growers in Madagascar and Indonesia to fill the void. News of the poor crop has already lead to hoarding by speculators. Vanilla prices have jumped 20% in the past couple months, and ice cream prices may increase 10% as a result. Other vanilla products, from sweets to perfumes to medicines, will also feel the pinch. Synthetic vanilla, or vanillin, is a common substitute, and is unaffected by this shortage. Fortunately, this crisis doesn’t appear as severe as 2003’s, after a cyclone damaged the crop in Madagascar and prices soared into the stratosphere. But for those who want real vanilla beans, this current crisis will reach into your wallets.
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April 6th, 2012 at 6:36 pm
that explains $30 for a bottle of double-strength vanilla extract. 🙁
April 8th, 2012 at 2:05 pm
No!! I luv vanilla 🙁
April 14th, 2012 at 6:22 pm
I can taste the real thing from the fake and it’s worth the cost. Why does the price only ever go up?!
May 1st, 2012 at 11:59 am
Oh no! My beans are going up. Maybe its finally time to start that vanilla farm 😉