Open market data
The vanilla price benchmark, 2014–2026
Twelve years of cured vanilla pricing — from the 2018 speculative peak above $700/kg to today's stabilised band. Free to read, no account required.
Madagascar FOB reference series (USD/kg)
Indicative annual midpoints for cured bulk black vanilla, Madagascar FOB. Premium Grade A versus industrial extraction grade.
| Year | Grade A (USD/kg) | Extraction (USD/kg) | Market phase |
|---|---|---|---|
| 2014 | $70 | $45 | Build-up |
| 2015 | $110 | $70 | Build-up |
| 2016 | $300 | $190 | Build-up |
| 2017 | $550 | $340 | Speculative peak |
| 2018 | $725 | $460 | Speculative peak |
| 2019 | $650 | $410 | Speculative peak |
| 2020 | $420 | $260 | Supply correction |
| 2021 | $330 | $205 | Supply correction |
| 2022 | $300 | $185 | Supply correction |
| 2023 | $250 | $150 | Supply correction |
| 2024 | $115 | $70 | Supply correction |
| 2025 | $80 | $50 | Stabilisation |
| 2026 | $90 | $55 | Stabilisation |
2026 indicative ranges by origin
| Origin | FOB range (USD/kg) | UK landed (GBP/kg) | Notes |
|---|---|---|---|
| Madagascar (SAVA) | $64–$260 | £60–£240 | Standard black-bean index prints sit near $64–$82; Grade A gourmet lots command $140–$260. |
| Uganda | $40–$300 | £38–£270 | Standard lots $40–$120; high-vanillin premium lots (2.2–2.8%) can reach $150–$300. |
| Indonesia | $20–$80 | £20–£75 | Grade A $30–$80; extraction-grade material $20–$50. |
| Papua New Guinea | $50–$150 | £50–£140 | Thin public price evidence; ranges are indicative only across Tahitensis and Planifolia. |
| Tahiti | $150–$400 | £140–£370 | Premium floral Tahitensis in tightly limited volumes; wide spreads between lots. |
Landed ranges assume consolidated air freight, 0.6% cargo insurance, 0% UK duty (HS 0905) and 20% import VAT. Model your own shipment with the landed-cost calculator.
What drove the cycle
- 2014–2016
The build-up
Years of low farm-gate prices pushed Malagasy growers to abandon vines. Falling supply met rising natural-flavour demand, and prices began their climb from under $100/kg.
- 2017
Cyclone Enawo
In March 2017 Cyclone Enawo struck the SAVA region — source of roughly 80% of the world's vanilla — damaging crops and infrastructure. Prices accelerated toward their historic peak.
- 2018–2019
The speculative peak
Grade A black vanilla traded between $600 and $750/kg, briefly exceeding the price of silver by weight. Theft, premature harvesting and vacuum-packed green vanilla degraded quality across the market.
- 2020–2023
The long correction
High prices triggered global replanting and demand destruction as manufacturers reformulated. Madagascar's $250/kg export floor price, intended to protect farmers, left origin stock unsold as buyers walked away.
- 2023–2024
The floor collapses
The export floor was abandoned in 2023 and the market cleared at a fraction of its level. A carry-over stock overhang — estimates ran into thousands of tonnes — dragged prices below $100/kg.
- 2025–2026
Stabilisation
Prices have settled into a lower, more rational band. Traceability regulation (EUDR) and quality differentiation now drive premiums more than speculative scarcity.
Price your own shipment
Enter an FOB quote and origin to estimate freight, insurance, duty and VAT — free, no account needed.
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Our insights manuals cover the 10-year commodity cycle, EUDR traceability and FOB-vs-CIF sourcing economics.
Browse insightsIndicative figures compiled from publicly reported market commentary. Not verified transactions or live quotes — always confirm current pricing with exporters before committing capital.