{"id":896,"date":"2017-02-28T14:46:08","date_gmt":"2017-02-28T14:46:08","guid":{"rendered":"http:\/\/blogs.kent.ac.uk\/economics\/?p=896"},"modified":"2020-02-19T10:35:44","modified_gmt":"2020-02-19T10:35:44","slug":"choosy-consumers-drive-a-near-1000-spike-in-vanilla-prices","status":"publish","type":"post","link":"https:\/\/blogs.kent.ac.uk\/economics\/2017\/02\/28\/choosy-consumers-drive-a-near-1000-spike-in-vanilla-prices\/","title":{"rendered":"Choosy consumers drive a near 1000% spike in vanilla prices"},"content":{"rendered":"<p>&#8220;If you had been a canny investor back in 2008, you could have done a lot worse than make a substantial bet on upmarket ice cream futures. The price of vanilla beans has rocketed from as little as US$25 per kilo eight years ago up to US$240 at the end of 2016. <a href=\"http:\/\/www.nielsenmassey.co.uk\/downloads\/nmv-crop-report.pdf\"><span style=\"color: #0066cc\">Some forecasts predict<\/span><\/a> it will reach as much as US$450 per kilo by the middle of 2017. Even by the standards of volatile prices in <a href=\"http:\/\/www.fao.org\/faostat\/en\/#home\"><span style=\"color: #0066cc\">agricultural commodities such as rice and grains<\/span><\/a> this is exceptional.<\/p>\n<p>Unlike other price increases that were shortlived and the result of policy decisions, the price of vanilla beans is being driven by something else. In short, it is all down to us, the fickle consumer and our love of authentic cones, custard and cr\u00e8me br\u00fbl\u00e9e&#8230;&#8221;<\/p>\n<p>This is an excerpt from an article by\u00a0the School&#8217;s\u00a0Professor Iain Fraser,\u00a0published in <em><a href=\"https:\/\/theconversation.com\/choosy-consumers-drive-a-near-1-000-spike-in-vanilla-prices-72780\">The Conversation<\/a><\/em> on 27 February 2017. <a href=\"https:\/\/theconversation.com\/choosy-consumers-drive-a-near-1-000-spike-in-vanilla-prices-72780\">Click here<\/a> to read the full article.<\/p>\n<p>-ENDS-<\/p>\n<p>Press coverage generated by this article:<\/p>\n<p>Newsweek: <a href=\"http:\/\/www.newsweek.com\/picky-consumers-vanilla-prices-spike-1000-percent-575253\">http:\/\/www.newsweek.com\/picky-consumers-vanilla-prices-spike-1000-percent-575253<\/a><\/p>\n<p>SBS: <a href=\"http:\/\/www.sbs.com.au\/food\/article\/2017\/02\/28\/choosy-consumers-drive-near-1000-spike-vanilla-prices\">http:\/\/www.sbs.com.au\/food\/article\/2017\/02\/28\/choosy-consumers-drive-near-1000-spike-vanilla-prices<\/a><\/p>\n<p>Descrier:\u00a0<a href=\"http:\/\/descrier.co.uk\/culture\/food\/posh-ice-cream-cakes-push-price-vanilla-1000\/\">http:\/\/descrier.co.uk\/culture\/food\/posh-ice-cream-cakes-push-price-vanilla-1000\/<\/a><\/p>\n<p>Smithsonian:\u00a0<a href=\"http:\/\/www.smithsonianmag.com\/science-nature\/bittersweet-story-vanilla-180962757\/\">http:\/\/www.smithsonianmag.com\/science-nature\/bittersweet-story-vanilla-180962757\/<\/a><\/p>\n<p>The York ME Community: <a href=\"https:\/\/www.york-me-community.org\/choosy-consumers-drive-a-near-1000-spike-in-vanilla-prices\/\">https:\/\/www.york-me-community.org\/choosy-consumers-drive-a-near-1000-spike-in-vanilla-prices\/<\/a><\/p>\n<p>Fragrantica:\u00a0<a href=\"https:\/\/www.fragrantica.com\/news\/This-Week-in-Fragrance-Worth-Launches-Belle-Coty-Acquires-Burberry-and-Chlorine-Inspires-Scent-9297.html\">https:\/\/www.fragrantica.com\/news\/This-Week-in-Fragrance-Worth-Launches-Belle-Coty-Acquires-Burberry-and-Chlorine-Inspires-Scent-9297.html<\/a><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;If you had been a canny investor back in 2008, you could have done a lot worse than make a substantial bet on upmarket ice &hellip; <a href=\"https:\/\/blogs.kent.ac.uk\/economics\/2017\/02\/28\/choosy-consumers-drive-a-near-1000-spike-in-vanilla-prices\/\">Read&nbsp;more<\/a><\/p>\n","protected":false},"author":37654,"featured_media":1862,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[94132,14,94130,70],"tags":[],"_links":{"self":[{"href":"https:\/\/blogs.kent.ac.uk\/economics\/wp-json\/wp\/v2\/posts\/896"}],"collection":[{"href":"https:\/\/blogs.kent.ac.uk\/economics\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs.kent.ac.uk\/economics\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.kent.ac.uk\/economics\/wp-json\/wp\/v2\/users\/37654"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.kent.ac.uk\/economics\/wp-json\/wp\/v2\/comments?post=896"}],"version-history":[{"count":4,"href":"https:\/\/blogs.kent.ac.uk\/economics\/wp-json\/wp\/v2\/posts\/896\/revisions"}],"predecessor-version":[{"id":1029,"href":"https:\/\/blogs.kent.ac.uk\/economics\/wp-json\/wp\/v2\/posts\/896\/revisions\/1029"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blogs.kent.ac.uk\/economics\/wp-json\/wp\/v2\/media\/1862"}],"wp:attachment":[{"href":"https:\/\/blogs.kent.ac.uk\/economics\/wp-json\/wp\/v2\/media?parent=896"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs.kent.ac.uk\/economics\/wp-json\/wp\/v2\/categories?post=896"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs.kent.ac.uk\/economics\/wp-json\/wp\/v2\/tags?post=896"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}