Making money from exporting herbs, spices

According to the International Trade Centre(ITC), the global market for seasonings, spices and herbs is likely to exceed US$6.5 billion per year in the near future, due to the growing demand in food service, home cooking and growing consumer fascination for different cuisines. 

The total flavouring markets maintain an upward trend in volumes and values. But, the numerous different spices and herbs, origins and markets, all have their own supply and demand dynamics. Each is subject to the disparate production environments in assorted origins, to trends in global trade conditions and to the whims of demand in distant markets.

The Spices Market Insider collects analyses and reports news, views, prices and underlying fundamentals in the global spice trades focusing on selected markets in Asia (India, China), Europe and Africa for 30 varieties of spices and herbs. 

The Spices Market Insider coverage extends across the range of spices, from the high volume pepper, capsicum and ginger trades to the more special pimento and vanilla, and they monitor markets in around 15 herbs too. African suppliers have a key role here, whether it is ginger from Nigeria, vanilla from Madagascar and East Africa, chilies from Malawi, or herbs from Egypt, and cloves from Zanzibar.The market is large and growing. 

There are big markets in Russia, Ukraine, Germany, Holland, Italy, the United States and Canada. Presently, the European Union (EU) is the largest market for spices and herbs in the world.Across Europe, the demand for herbs is growing with a large increase in people interested in using herbs in their homes, experimenting with culinary techniques and different cuisines.

A lot of small exporters are also exploring opportunities provided by the Indian and Asia cosmetic market, but European Union buyers are still reluctant to source further processed products from developing countries due to concerns about quality, food safety and adulteration. 

CULLED FROM INTERNATIONAL TRADE CENTRE (ITC) http://www.intracen.org and The NATION http://thenationonlineng.net