Vanilla Bean Volatility Could Drive Up Prices
June 14, 2024 | 1 min to read
Growers caution about a looming cost problem due to supply constraints following the devastation caused by Cyclone Gamane in Madagascar, which severely impacted vanilla production. As the world's primary source of vanilla, the cyclone flooded fields and stripped vines, raising concerns over a potential shortage. The labor-intensive cultivation and curing process of vanilla, mainly grown in tropical regions like Indonesia, Mexico, Uganda, and Tahiti, contributes to its status as the second most expensive spice after saffron.
While supply constraints are not expected to last long, growers warn of a potential cost problem.
The majority of the world’s vanilla supply comes from Madagascar, where Cyclone Gamane flooded fields and stripped vanilla pods from their vines, causing concern for an impending shortage.
The sweet flavoring that comes from the fruit of the orchid is also grown in other tropical regions including Indonesia, Mexico, Uganda and Tahiti. It ranks as the second most expensive spice, behind only saffron, because of its labor-intensive growing process, which involves pollinating and harvesting it by hand, followed by a several month long curing process.
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