The lower price offered vanilla beans suppliers in Indonesia to attract more buyers in December 2020

As demand for vanilla slows down in the first two weeks in December 2020, the majority of vanilla suppliers in Indonesia are currently offering their Grade-A vanilla beans at USD 240/Kg. This price is actually lower by USD 40/Kg from its average price in the entirety of November 2020 at USD 280/Kg.

By offering the lower price, the majority of these suppliers hope that they can attract more overseas buyers and can sell fast before the end of the year. Aligned with this plan, Indonesian trade attaches overseas are also helping these suppliers by offering Indonesian vanilla beans to prospective buyers in major markets such as the USA, Canada, and Saudi Arabia.