Tahitian Vanilla
Vanilla from French Polynesia still enjoys it’s elite status and with the diminished presence of PNG gourmet vanilla, demand and prices for Tahitian vanilla are on the upswing. Prices have already exceeded $200.00 (€149.43, £127.49) per kilogram for grade A vanilla this season. Production will be lower this year compared to last year and it is unlikely to exceed 25mt.
Mexican Vanilla
Although Mexican vanilla production rarely exceeds 50mt it has always maintained a loyal following in both the food service and industrial trade. The 2010 crop was very small and this year’s crop is predicted to be less than 10mt as a result of a severe drought. Prospects do not look much better for 2012. Industrial grade Mexican vanilla is currently trading over $100.00 (€74.72, €63.74) a kilogram. Just like Indonesian low grade beans, Mexican vanilla has its own unique characteristics and market value.
Weekly Market Reports of International Spice Commodities – Ugandan Vanilla
Increased production from local farmers plays a key role in determining of price for vanilla this season. Many Ugandan farmers had ceased production of vanilla 5 years ago and some had even cut down the plantations due to very low prices which had gone as low as Sh1500 ($0.60, €0.44, £0.38) per kilogram for uncured vanilla.
However, with the recent increase in prices, there has been an increase in the production of vanilla in the last two years. On the international market, the price of uncured vanilla at the beginning of December rose to Sh5500 ($2.18, €1.61, £1.39) and that of cured vanilla topped off at Sh 50,400 ($20.00, €14.80, £12.73) per kilogram. These prices are subject to the dynamics of the international vanilla market that is characterized by speculation, stiff competition and inconsistent quality and quantity.
In 2011, Uganda has had favorable weather conditions compared to last year which was characterized by a long drought. The good weather conditions have contributed high yields and in turn an increase of vanilla on the global market. Statistics show that the global vanilla supply was 700 tonnes in 2010 (150 tonnes to the USA) and this is predicted to shoot up by the end of 2011 due to a carryover from the 2010 crop.
For more information regarding Ugandan Vanilla and other spice commodities, please contact Keres Consulting.
