Finance

Vanilla prices have risen very much

Over the past two years, vanilla prices have risen so much that ice cream manufacturers are beginning to worry about their interests. Sweet condiment now costs around $ 600 for 1 kg. That’s more than you have to pay for a silver bar.

Vanilla prices have risen since March 2017, when the powerful Enawo cyclone hit Madagascar, destroying the crops there. Losses affected not only the inhabitants of the island, because it is from there that 75 percent comes from. delivered to global vanilla markets.

After passing the cyclone, some suppliers of this characteristic spice raised prices up to tenfold. Besides, they had already tried to overstate them, observing the growing demand for vanilla in recent years.

According to the BBC, vanilla prices are beginning to overwhelm ice cream producers in the UK. Some, like the owners of Snugburys Ice Cream, decided to buy larger vanilla stocks for fear of further increases. Others are considering giving up the use of expensive spices.

Vanilla is not only used by ice cream producers. It is also a component of perfumes, cosmetics, many sweet dishes, alcohol, etc.