Why has vanilla extract more than doubled in price in the last few months

I used to buy 500 ml of Kirkland pure vanilla extract at Costco.  Cost was $9.99.  That was up to $24.99 January of this year.  And now this SAME bottle is up to $38.99!  Something about worldwide shortage in vanilla beans.  The plants were not producing as per past years.  So dwindling supply can't keep up with the demand!

https://www.cbsnews.com/news/vanilla-bean-shortage-madagascar-drives-up-us-prices/

"The good news is there may soon be more vanilla to meet the increased demand. Supplies were already low a couple years ago when a drought made things even worse. But people who’ve been to Madagascar recently say the next crop of vanilla is looking good, meaning prices could soon come down."

Oh I hope so! I always like to use the good stuff, although I've heard some pros say that it (Americas Test Kitchen, Jay Qualls) really doesn't make that much difference because of the ratio of extract to batter volume....do any of you CC pros have any acceptable alternatives?

Well, I am not a professional test kitchen or baker, BUT I AM a professional junk food junkie with my desserts of choice being homemade cakes, pies and cookies and I can certainly tell the difference in real vanilla and artificial.  In my opinion, one is real vanilla and the other is not much of anything, practically tasteless.

Agreed, even the smell of the cheap stuff is weird

My local cake shop was out of vanilla and the owner told me that the price is going to double. She's been out of it for weeks...you know ...the good stuff...madagascar