The March 2021 Gourmet Market Report: Focus on Vanilla and Oil Pricing

By March 22, 2021Industry News
vanilla

Vanilla

vanillaAs the saying goeth, the lord giveth and he/she taketh awayeth.

Great news has been hard to come by but if you like true vanilla, prepare to rejoice. After years of typhoons, political instability in Madagascar, and market manipulation, vanilla prices are falling back to sane levels.
Be aware that the price of the beans are the first to benefit followed by extracts which will fall more slowly as producers use up their inventory that was made with higher cost beans.

Oil Pricing

olive oilWe wanted to make you aware of soaring cooking oil prices coming over the horizon while the premium oil markets, think (EVOO), are less affected.

Recent poor harvests in Canada and Europe coupled with explosive demand in China for Biofuels have affected the availability of canola and soybean oils here in the US.

Pacific Gourmet will do its best to absorb as much of these increases as possible, and along with our popular non-gmo expeller pressed canola oil we will be offering a less expensive conventional refined oil of good quality.  We wanted you to know how and why these prices are being affected and we will notify you on any significant changes.

Please speak to your salesperson for further details.

Thank you for your continued support,

March 2021
John Cawley
Pacific Gourmet

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