A Reason To Scream: Vanilla Shortage Forcing Higher Ice Cream Prices

Anne Marie Panoringan

Nirvana Grille's homemade goat cheese maple ice cream with figs

When gas prices creep upwards, Costco lines resemble Toy Story Mania at Disney's California Adventure. But what would you do if ice cream got more expensive? Guess we're about to find out. Per The London Telegraph, worldwide shortages of vanilla may force our cold sweetie to empty our pockets a little more this summer.

"The stocks in the world are being run down and we are getting to a point now where we are likely to see the price shoot suddenly upwards." states Nick Peska, business development director at Mintec, a market analyst.

Production in Mexico and India is dwindling, with Mexico reporting a 90 percent drop in the past year. Other spice-producing countries include Madagascar and Indonesia. Since the new year, global pricing for vanilla has jumped from $25 to over $35 for a kilo of the pure stuff. The second most expensive to saffron, its use is in everything from desserts to lotion.

Maybe this isn't a big deal, and folks won't flinch at spending another 10 percent on Thrifty's or Ben & Jerry's. . . . or will they?