A 14-year record of what Indonesian and Madagascar vanilla has actually traded for — FOB export benchmarks by grade, US retail context, and the events behind every major move.
Indonesian vanilla (FOB): Grade A whole/split beans trade at $50–90/kg; Grade B extraction-grade at $15–40/kg. Indonesia held anomalously high in 2023 ($104–$258/kg) due to local speculative positions, and has since normalised downward into 2025–26. Madagascar vanilla collapsed sharply after the government export price floor was cancelled in April 2023 — commodity grades briefly fell below $20/kg. The current informal $50–70/kg floor limits downside, while certified premium Grade A holds $60–120/kg. US retail for quality cured beans remains $152–$241/kg (Procurement Tactics, mid-2025), reflecting the multi-layer intermediary margin separating FOB from shelf.
Toggle series on/off. Hover for price and event context. Shows mid-range FOB benchmarks for cured export beans.
Chart shows mid-range benchmark prices for cured FOB export beans. Grade A = gourmet/whole (14cm+, 25%+ moisture). Wide within-year variation exists; see full ranges in the table below. Sources: Tridge export trade data; Procurement Tactics (2025); Cooks Vanilla market reports; Monchy Natural Products (2024); Vanilla Roots direct transaction data.
Every inflection point has a cause. These are the structural and event-driven forces behind each cycle.
Cured export bean price ranges per kilogram, USD FOB. Grade A = gourmet/whole (14cm+). Ranges reflect grade variation, certification premiums, and transaction type.
| Year | Indonesia Gr. A (FOB) | Indonesia Gr. B (FOB) | Madagascar Gr. A (FOB) | Madagascar Gr. B (FOB) | US Retail Gr. A (est.) | Key Market Driver |
|---|---|---|---|---|---|---|
| 2012 | $25–45/kg | $10–20/kg | $20–50/kg | $10–22/kg | $80–110/kg | Post-2004 crash base; stable low prices |
| 2013 | $25–50/kg | $12–22/kg | $25–55/kg | $12–24/kg | $85–115/kg | Gradual recovery; vine abandonment constrains future output |
| 2014 | $30–55/kg | $14–24/kg | $35–65/kg | $15–28/kg | $90–125/kg | Supply tightening begins; demand steady |
| 2015 | $55–95/kg | $22–40/kg | $80–130/kg | $35–60/kg | $120–170/kg | Cyclone Haruna; first speculative buying wave |
| 2016 | $80–130/kg | $35–58/kg | $130–220/kg | $58–100/kg | $160–230/kg | Sustained supply fear; speculative buying escalates |
| 2017 | $130–200/kg | $55–90/kg | $250–500/kg | $110–220/kg | $230–340/kg | Cyclone Enawo — ~30% of Madagascar crop destroyed |
| 2018 | $180–260/kg | $75–120/kg | $500–800/kg | $220–350/kg | $310–440/kg | All-time peak — Madagascar briefly exceeds silver price |
| 2019 | $130–190/kg | $55–85/kg | $220–380/kg | $100–170/kg | $260–370/kg | Planting boom matures; exports fall $855M → $573M |
| 2020 | $75–120/kg | $30–55/kg | $180–290/kg | $80–130/kg | $185–265/kg | COVID demand shock; oversupply compounds; ~$250/kg by Sept |
| 2021 | $55–95/kg | $22–42/kg | $130–260/kg | $60–115/kg | $170–235/kg | Madagascar sets $250/kg export price floor |
| 2022 | $50–85/kg | $18–35/kg | $110–250/kg | $50–110/kg | $160–225/kg | Floor maintained; Indonesia lagging lower on reduced demand |
| 2023 | $104–258/kg | $35–80/kg | $9–204/kg | $6–90/kg | $155–230/kg | Madagascar floor cancelled April 2023 — prices collapse; Indonesia holds high on local speculation |
| 2024 | $104–178/kg | $25–55/kg | $15–125/kg | $8–55/kg | $152–241/kg | Madagascar exports 4,300MT in H1; global glut; informal $60/kg floor reinstated |
| 2025 | $50–90/kg | $15–38/kg | $10–125/kg | $8–50/kg | $152–241/kg | Large crop; Indonesia normalises; US tariffs redirect procurement; Madagascar farmgate falls to $1.50/kg green |
| 2026 YTD | $50–90/kg | $15–40/kg | $15–120/kg | $8–55/kg | $152–241/kg | Current benchmark — EUDR traceability premium emerging; supply still elevated |
Sources: Tridge global trade data (HS 090510); Procurement Tactics vanilla price tracking (Aug 2025); Cooks Vanilla Market Report (March 2025); Monchy Natural Products Global Market Report (July 2024); Vanilla Roots direct transaction data (Indonesia). Indonesia 2023 Tridge: $104–$258/kg; 2024: $104–$178/kg. Madagascar 2023 Tridge: $9–$204/kg range reflects extreme grade stratification post-floor cancellation. US retail 2025: Procurement Tactics $152.35–$241.32/kg. All prices USD/kg FOB cured beans unless noted. Contact Vanilla Roots for a current lot-specific quote with CoA.
Vanilla doesn't have one price — it has several simultaneously describing different points in the chain:
Indonesia's FOB range of $104–$258/kg in 2023 looks counterintuitive given Madagascar's collapse to $9–20/kg for low grades. The explanation is local speculation:
Cost per gram of extractable vanillin is the real comparison metric for extract houses and manufacturers. Lower headline price with lower vanillin content and higher moisture can cost more per gram of actual flavour compound than premium material.
A CoA showing vanillin %, moisture level, and grade confirmation is the only basis for a true cost comparison. Indonesian Grade B extraction beans at $15–40/kg with 1.5%+ vanillin content often outperform commodity Madagascar at equivalent cost per gram of flavour.
Madagascar green vanilla fell to $1.50/kg farmgate in 2025. At that price, farmers cannot cover the cost of hand-pollination and curing — so they don't. Abandoned vines take 3–4 years to replace.
The structural conditions that produced the 2017–2018 spike — geographic concentration, slow supply response, speculative amplification — remain entirely in place. Buyers treating today's pricing as a permanent baseline are repeating the mistake of 2014.
Seasonal price trends, grade benchmarks, and what's driving cost shifts — straight from the source. Based on real transaction data and direct observation from our curing regions.