Is Another Vanilla Crisis Inevitable?
Rick Brownell
Virginia Dare
Brooklyn, NY, USA
It has been almost ten years since the beginning of the Vanilla Crisis. The factors leading up to the crisis are eerily similar to those in the Vanilla market today - increasing demand and shrinking supplies. Is another Vanilla crisis around the corner? If so, can the industry survive again this time?
This presentation will discuss in depth the unique aspects of the Vanilla market which make it susceptible to boom and bust cycles. It will evaluate the probability of another one occurring in the near term and what the consequences are likely to be. Most importantly, it will examine potential alternatives for bringing greater stability to the
Vanilla market and ensuring its long term survival and prosperity.
Rick Brownell has been in the flavor industry with Virginia Dare and Bush Boake Allen for 25 years. For the past 16 years, he has been involved exclusively with vanilla – including cultivation, sourcing, extraction, product development and sales. He has traveled extensively throughout the world including the major vanilla producing countries of Mexico, Madagascar, Indonesia, and India. He has a BA degree from Middlebury College and MBA degree from Dartmouth College. He and his wife Lindy have three grown children and reside in Ridgewood, New Jersey