Market report - November 2017
Vanilla exports from Madagascar have been authorised since the 15th of October last. All concerned parties were waiting for this release date which in turn sparked another price spike in bulk vanilla prices in October.
We imposed new quality standards on our suppliers and have consequently received better prepared vanilla. All quality-controlled batches from Madagascar are showing a high level of quality with an intense aroma. Moreover, the pods are more stable than in previous years when we noticed a lot of mouldy pods on the market.
Vanilla batches which have been prepared by our partners using the ‘quick curing’ method are also giving good quality results. These are proving to be a good alternative to red vanilla.
In spite of the cyclone Enawo, this year’s harvest is expected to reach 1,500 tons which is more or less the figure for a normal year. Our stocks are held in France meaning we can react quickly to any customer needs.
Since last September our Sourcing Manager in Indonesia has begun a screening audit of our existing plantations. The results of this will enable us to establish the exact output in this region as well as the quantities available for export over the next few years. The same work was carried out in India by our local subsidiary. Today, most of the vanilla exported by these two countries actually originates in Papua New Guinea (source: Indian Customs).
The flowering season in Madagascar finishes at the end of January. This is an important period and afterwards, we’ll be able to estimate the expected output for next year. This will also enable us to provide an indication of price trends.
The past few years have provided us with an incentive to come up with alternatives. Eurovanille continues to develop its offer and our R & D Department has just launched a new range of natural vanilla aromas which will allow customers to maintain a steady flavouring cost.