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Food Media

Vanilla bean prices rising sharply again

racer x | Jan 30, 201712:54 PM     3

"Vanilla bean prices rising sharply again for local businesses
January 27, 2017
...
Back in April, retailers like (Paul Bailey of the Savory Spice Shop, in St Petersburg, FL) were paying about $61 per pound— and upset it was double from the year before. ...
Bailey said he was forced to hike prices again because he's paying $424 per pound....
Vanilla is the second most expensive spice on the market, behind saffron. In six years in business of selling retail spices, Bailey has never seen the price skyrocket like this.

...

In April, he (Bent Breame, CEO of Beanilla) predicted the shortage could send the price as high as $500 before the 2016 harvest hits the market later this year. 'I think it hit $550 back in 2005 and then it crashed quickly. We are not expecting that to happen this year... these prices are only going to continue to rise for the next 6 month or at least hold steady.'"

http://www.tampabay.com/news/business...

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