Ice cream prices may rise 20 percent due to a shortage in the vanilla supply. Madagascar, the largest grower of vanilla beans, saw much of its crop devastated by a cyclone in March, just as the busy ice cream season was set to begin.

The cost of a gallon of vanilla extract is $220, up from $40 three years ago. The price of an individual cone is expected to increase 50 cents, as soft serve ice cream will be the most affected because almost all soft serve treats use vanilla extract.

The industry is currently looking for alternates to vanilla, but experts have yet to find one that will not greatly alter the flavor, reports MassLive.com. Full Story

Related: Boozy Ice Cream Maker Opens Parlor; Brazilian Nitrogen Ice Cream Chain Enters US Market.