This article deals with a crisis that hit the vanilla industry in 2015 and drove up prices. But even without a crisis, vanilla is expensive. To find out why, read here. To learn about the current crisis and why vanilla is almost unaffordable for some, read on.
In May of 2019, a new market report was released by a European company that has been in the vanilla business for more than 100 years and is known for their honest and reliable industry assessments. The report confirmed that the price for vanilla beans has softened, but has a way to go before it will be in the “affordable” category. At this time, most beans are selling for about $400 a kilo at source. For a sense of how this impacts Europe and the US, by the time the vanilla beans are shipped and airport fees, port fees, agent’s fees, custom fees and storage fees are paid, it can be as much as $100 more a kilo by the time everything is paid by the importer.