Vanilla Prices Could Melt The Spirits Of Ice Cream Lovers
By Jim Melwert
PHILADELPHIA (CBS) - Could be a "rocky road" for ice-cream lovers this summer.
All thanks to a shortage in the vanilla crop by two of the world's major suppliers, the price of vanilla has gone up considerably in the past couple months. And, analysts warn that could drive ice cream prices up 10-percent.
Food-grade vanilla, also known as black vanilla for the color of the dried orchid pods, is only grown in a few countries. So, prices are easily influenced by any changes.
This only affects premium ice creams or products that use real vanilla. Artificial flavors won't be affected.
Vanilla is the second most expensive spice in the world, after saffron because because cultivating it is so labor-intensive.
