Great news for vanilla lovers
In a time when prices only ever seem to be on the rise, we bring happy tidings for buyers of vanilla products.
Prices of vanilla – particularly Madagascan vanilla - are currently experiencing significant decreases, which have largely been attributed to a lifting of export barriers, coupled with a bumper harvest.
Madagascar is the world’s leading producer of vanilla and, after vehement protests, the Madagascan government has bowed to pressure and lifted price restrictions, putting an end to the minimum price of $250/kg.
Vanilla pod prices in USD/kg per year
Beyond Madagascar
Here's a round-up of what’s happening in other vanilla-producing countries.
•Uganda and Indonesia face challenges in maintaining their market share against competition from Madagascan vanilla.
•Papua New Guinea's vanilla, despite lower quality, remains attractive to manufacturers seeking a different flavour profile.
•Tahitian vanilla's niche positioning ensures steady demand and production levels.
•The Comoros, like Madagascar, experienced a drop in vanilla purchase prices and needs to align with Madagascan market prices to remain competitive.
Passing on the price reductions
As the exclusive UK distributor for the Prova Gourmet vanilla range, Henley Bridge is able to pass on the vanilla price reductions with immediate effect.
Prova Gourmet is a French, family-owned business specialising in the production of vanilla extracts and flavours, offering cost-effective and time-saving solutions for busy chefs, bakers, mixologists, ice cream makers and chocolatiers with 25 game-changing products on offer.
The company’s latest Vanilla Market Report advises: “It now seems inevitable that, regardless of origin, vanilla prices will see a downward correction. This downward trend already started during the ‘green vanilla’ season in July-August 2023 and looks set to continue throughout 2024.”
You can take advantage of these price increases decreases now by viewing the Prova Gourmet product range, which includes vanilla pods, extracts and sugar.
