The price of vanilla has soared over the last two years, sending a chill down the spine of UK ice-cream makers. At around $600 per kilo the sweet ingredient costs more than silver. The vast majority of vanilla - over 75% - is grown on the tropical island of Madagascar, off the South East coast of the African Continent. "The main reason for the high price is that there was a cyclone in Madagascar last March which damaged a lot of the plantations," said Julian Gale, a commodities analyst for IEG Vu.It's not just ice cream: vanilla is popular across sweet foods, alcohol, as well as cosmetics and perfumes. Some ice cream producers are now considering whether it is worth producing vanilla any longer.
