Post by Trade facilitator on Nov 28, 2018 17:11:25 GMT 1
Turmeric is a spice with many uses. It is a part of the ginger family. Turmeric contains a yellow-coloured chemical called curcumin, which is often used to colour foods and cosmetics. It is frequently used to flavour or colour curry powders, mustards, butters and cheeses. It has a warm and bitter taste. Its root is also used to make medicine.
Turmeric is well cultivated in Nigeria. In fact, Nigeria is the third largest producer of turmeric in the world, a product that is highly sought at the international markets.
With a large increase in people interested in using the product in industries or their homes, experimenting with culinary techniques and different cuisines, the demand for turmeric is fast growing.
Turmeric stands out because of its colour and hot nature. Apart from acting as seasoning and additive, turmeric is also known and preferred for their medicinal value and its use in the pharmaceutical and cosmetic industries.
In Europe the capsules/tablets containing powder and extracts are marketed to support the immune system, joint and digestive health
At the international market, turmeric is a foreign exchange earner as it is in great demand globally. The product can be exported to countries like (Belgium, France and Italy. Other key export markets for Turmeric are USA, UK, Japan, Malaysia, UAE, Bangladesh etc.
The high value of this herb in dollars and euros mean many export entrepreneurs can earn more from exporting it than selling locally.
While the foreign market is a big opportunity for emerging entrepreneurs, cultivation and export of spices could become the backbone for the nation’s most successful crop export.
On getting the product exported to other countries, food safety requirement must be met and appropriate shipping documentations should be on place. The packaging also, should be of the required standard in order to run an effective export business and to ensure no loss is incurred.
It is a perfect business idea for starters and it doesn't require large start-up capital. Hence, you can begin as a small exporter and explore opportunities provided by the growing turmeric market.
