Page "Vanilla" Paragraph 9
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The market price of vanilla rose dramatically in the late 1970s after a tropical cyclone ravaged key croplands.
In the mid-1980s, the cartel that had controlled vanilla prices and distribution since its creation in 1930 disbanded.
Prices dropped 70 % over the next few years, to nearly US $ 20 per kilogram ; prices rose sharply again after tropical cyclone Hudah struck Madagascar in April 2000.
The cyclone, political instability, and poor weather in the third year drove vanilla prices to an astonishing US $ 500 per kilogram in 2004, bringing new countries into the vanilla industry.
A good crop, coupled with decreased demand caused by the production of imitation vanilla, pushed the market price down to the $ 40 per kilogram range in the middle of 2005.
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