7 of 9
BACK NEXT
Vanilla
Vanilla
Estimated price per pound of beans: $50 and up
Estimated price per gallon of extract: $260 and up

Because of its ubiquity, it's easy to take vanilla for granted, but plain ol' vanilla is second only to saffron when it comes to the priciest spices.

Vanilla beans come from a tropical orchid native to Mexico; today, Madagascar and Indonesia are the largest producers. Vanilla is expensive because growing and harvesting it is so labor-intensive, explains Patricia Rain, author of Vanilla: The Cultural History of the World's Favorite Flower and owner of The Vanilla.Company, a wholesale vendor. "Each flower is hand-pollinated, and each bean handpicked," she says. Then, the beans are dried and cured for several months to intensify the flavor. Six of Rain's vanilla beans cost $14.95; a 4-ounce bottle of extract sells for $8.25.

Artificial vanilla - a synthetic compound derived from coal tar - is significantly cheaper than real vanilla, but it doesn't have the same robust, nuanced flavor. Rain worries that if consumers become overexposed to the taste of fake vanilla, which is prevelent in processed sweets, they'll lose sight of how good the real thing is.

"Just like coffee, or chocolate, it's worth it to get the best," she says. "If you love the taste of a product, you need to support it; you need to buy the real thing."

NEXT: Foie gras

LAST UPDATE: Jul 23 2008 | 9:40 AM ET
Sponsored by
More Galleries
Where are they now? Last year, we picked 6 innovative companies with breakthroughs we thought could be the Next Little Thing. Find out how they fared this year - and check out 4 standouts from our choices in years past. More
Next Little Thing 2009 Each year Fortune Small Business celebrates entrepreneurs whose cutting-edge ideas will keep us talking for the next 12 months. Check out this year's crop of flying cars, blimp power and GPS-enhanced cows. More
Why electric cars have stalled Facing technical challenges and a weak market, many of Silicon Valley's electric-car startups are changing direction. More
Sponsors

© 2008 Cable News Network. A Time Warner Company. All Rights Reserved. Terms under which this service is provided to you. Privacy Policy
Copyright © 2008 BigCharts.com Inc. All rights reserved. Please see our Terms of Use.
MarketWatch, the MarketWatch logo, and BigCharts are registered trademarks of MarketWatch, Inc.
Intraday data provided by Interactive Data Real-Time Services and subject to the Terms of Use.
Intraday data is at least 20-minutes delayed. All times are ET.
Historical, current end-of-day data, and splits data provided by Interactive Data Pricing and Reference Data.
Fundamental data provided by Morningstar, Inc..
SEC Filings data provided by Edgar Online Inc..
Earnings data provided by FactSet CallStreet, LLC.