Vanilla ice cream shortage is looming due to struggling harvest.
20:46 05 April 2016
The price of vanilla ice cream is set to significantly increase this summer because of problems in Madagascar where vanilla is harvested. Other products such as cakes and puddings will also be affected.
The price of vanilla has increased by 130per cent to £153 per kilogram over the last 12 months due to struggling harvest. The 2015 harvest of 1,700 tonnes was around 800 tonnes short of the average annual yield.
Jara Zicha of Mintec said: "Even though production was better in 2014, prices didn't fall to prior 2013 levels."
Harry Rao of ingredients supplier Vanilla Mart added: "It's not a controlled market; a few big suppliers dictate the prices," he adds. There is currently no Fairtrade system for Madagascan vanilla.
"The cost of vanilla tends to rise quickly but fall very slowly."