Vanilla prices drop by a third from recent highs

[eugenep]

I got an email from Penzy Spices about a sale on vanilla and when checking on google, McCormicks 16 oz bottles are super low priced. 

 

There seems to be an oversupply in the market for this commodity. 

 

And there this trend for black vanilla from Papua New Guinea. 

 

I'd be interested in stocking up on vanilla beans - something out of my price range. 

 

Does anyone know of a good seller (of whole vanilla beans - preferably at the new lower price) or anything about the gourmet black vanilla in the article? 

 

"Gourmet black vanilla from Papua New Guinea has taken market share from the traditional retail and food service quality usually supplied by Madagascar and the surrounding Bourbon islands. Papua New Guinea could produce 250 tonnes in 2020, according to the report. Vanilla production is rising in Indonesia, and prices have fallen 50% from recent highs." 

 

https://www.foodbusinessnews.net/articles/14980-vanilla-prices-drop-by-a-third-from-recent-highs

[JoNorvelleWalker]

I received the same email and I bought a bottle!  But I still have an over supply of beans from a few years ago.

 

[Toliver]

CBS Sunday Morning did a recent story on vanilla:

 

"The flavorful story of vanilla"

 

 

 

https://youtu.be/3di0eG1XFus

The link for those who can't view the video.