The Economics of Vanilla
This presentation will attempt to answer specific questions related to the economics of vanilla including the following. Does the market for vanilla beans follow a typical commodity cycle? What is the impact of vanilla bean price changes on the cost of consumer products? What is the impact on demand for vanilla as bean prices go up and down? When do food and beverage manufacturers cut back on the use of natural vanilla or stop using it altogether? What is the economic advantage of naturally derived vanillin versus vanilla beans and at what point is that substitution likely to occur? What can be done to mitigate the price volatility of vanilla beans and ensure continued future demand for Natural Vanilla?
Rick Brownell has worked in the Flavor and Fragrance industry for over 30 years. He joined Virginia Dare as Vice President Vanilla Products in 1997. Prior to that, from 1982 through 1997, he worked for Bush Boake Allen in various sales and marketing assignments. From 1976 to 1982, he worked for Union Camp Corporation in finance.
Today, Rick is recognized as one of the world’s foremost authorities on the Vanilla Market. For the past 20 years he has concentrated exclusively on Vanilla, leading Virginia Dare to become one of the world’s largest and most respected global suppliers of Vanilla Extracts, Concentrates and Flavors. His responsibilities involve all aspects of the business including sales, marketing, purchasing, product development, production and technical service. He has been a long time leading proponent of the critical need for economic sustainability for Vanilla growers, particularly in Madagascar.
Rick has an MBA from Dartmouth College and an AB degree from Middlebury College. Rick and his wife Lindy have three children and live in Ridgewood, New Jersey.