Vanilla ice cream is a signature for any good ice cream sundae and a key ingredient to many different summer treats. Unfortunately the vanilla bean crop was hit hard in March when a cyclone tore through Madagascar and essentially destroyed the crop that we know and love.
Vanilla ice cream isn’t the only thing that is facing a price increase though, vanilla extract may also be going up. Today you can buy a single gallon of vanilla extract for $40 but with the crop issues, a gallon can now go for $220 in three years.
Ice creams prices will probably rise about 20 percent in the upcoming weeks, with an individual treat going up $.50 and soft serve being hit the hardest since it uses vanilla extract.
With vanilla being used in almost all baking and some cooking, it’s unknown what this crop issue can do to the industry. Some people are already looking for an alternative that they can use but there is the possibility of a flavor change then. At this point we are in a waiting game while we see what the crop does but we do expect increases in all vanilla products, so you may want to stock up on that ice cream now.