A.J. Vinayak
Mangalore, Feb. 17
The vanilla industry is unlikely to witness a change in price at least till the middle of 2010 because of the existing vanilla inventories in the global market and the current economic slowdown.
This opinion emerged at a technical session during the national seminar on vanilla, organised by the Vanilla Growers? Association of India, here.

Speaking on the topic export market for Indian vanilla, Dr R. Mahendran, Managing Director of the Pollachi-based Eurovanille India Pvt Ltd, said the price of vanilla will stay at what it is right now. ?What we are now facing is not the fall in price. There is fall in the moment in volume,? he said. Though there has been an improvement in consumption, a significant portion of this is being supplied by the existing vanilla inventories in the global market.

Consumption low
?Up to the middle of 2010, I don?t see any change. Because there are a lot of inventories everywhere, including Madagascar,? he said.
The current recession in the global market has also led to the reduction in consumption in countries such as the US. There may be stagnation till 2010. The things might improve in 2011, he said. However, he said vanilla industry in India is set to grow, as the global industry is looking at India as an alternative to Madagascar and Papua New Guinea.

Mr Mathew Varghese, Vice-Chairman of Vanilco (Vanilla India Producer company Ltd), said there is good scope for the development of domestic vanilla market in various sectors. Mr P.R. Muraleedharan, Treasurer of Vanilla Growers? Association of India, said the cultivation of vanilla should be encouraged in north-eastern states of India.

From The Hindu Business Line...