Vanilla Beans, Paste, or Pure Extract
At Maison Cote we offer a variety of premium quality Vanilla products.
Because of the extreme fluctuations in market pricing, it is best to contact us directly for ordering
The vanilla market concentrated in Madagascar (85% of the world production) has been experiencing significant tension since 2015. In more than a year, vanilla beans have reached USD 400-450 per kilo (compared to 60-80 US$/kg in 2015 and 30 US$/kg in 2012).
Despite the commitment of the market for sustainable vanilla, We observe that those prices are getting close to the point where end users will consider switching to lower cost alternatives.
Speaking with FoodIngredientsFirst, Ognibene-Lerouvillois of Prova, said: “It is naïve to believe that demand will remain unchanged no matter how high vanilla prices rise to. The last time vanilla bean prices got this high in 2002-2004, the global demand for vanilla beans decreased by 40-45% setting the stage for many years of unsustainable low prices to go back to the pre-crisis demand. However, although the sharp price rises are almost as steep as those seen a decade ago, for its part the context is very different.”
Because of the large number of players focusing their purchase on green vanilla beans (as an effort to guarantee a stable rate of vanillin, and avoid contamination), this leads to creating a huge pressure on the green vanilla over a short period of time, therefore translating into prices going through the roof for the cured vanilla.
“In addition, there is a strenuous effort to keep the market as high as possible at the moment,” explains Ognibene-Lerouvillois, “At this stage of the market, people who have made commitments to high prices do not want to see prices falling in the next few months.
Even though we all know that such prices are unrealistic and they will be possibly responsible for “killing the demand” in the future. Unfortunately, on the ground there are more sellers than buyers, but prices are still at abnormal levels.”