Post by Ismail AbdulAzeez on Oct 20, 2019 18:47:38 GMT 1
Fenugreek ( / ˈfɛnjʊɡriːk/ ; Trigonella foenum-graecum) is an annual plant in the family Fabaceae, with leaves consisting of three small obovate to oblong leaflets. Its seeds and leaves are common ingredients in dishes around the world.
Fenugreek is used as vegetable, herb (dried or fresh leaves), and the seeds as spice. Regular consumption of fenugreek increases the risk for serious medical side effect. It Treats Digestive Disorders, Cures Acidity, Reduces Risk of Heart Diseases, Controls Blood Sugar Level etc.
Cosmetics and soap manufacturing companies also use fenugreek in making their products. The oil extract from Fenugreek seeds has been found to possess antimicrobial and antidiabetic properties.
Nigeria grows many spices and holds a good position among world largest spice producers.
For an instance, fenugreek extracts are ingredients in many common products including:
garam masala, a spice blend
imitation maple syrup products
The Americas and the European Union (EU) continue to be the leads in terms of import demand for most spices. The United States (US) is still the world’s largest individual market for spices with imports running over 3,50,000 MT valued at US$925 million. Since 1976, the European Economic Council taken as a whole has been a larger market for spices in terms of both quantity and value.
The EU imports around 4,00,000 MT valued at US$ 1.3 billion. Germany (even prior to unification) is the single largest market in Europe and the second largest after the USA, importing over one third of total spice imports into western European countries. The United Kingdom (UK), Netherlands, France and Spain are next in the European league table. In the Pacific and Asian region the major importer of spices is Japan which has registered a startling growth rate of 5 % in the 5 years between 2005 and 2010 in value terms in a market driven by an almost obsessional imitation of Western eating habits.
Other growth areas which are currently showing a healthy upward trend are the Middle East.
Investment Gains In Fenugreek Business
The increased health consciousness and the preference for natural colour and flavour have resulted in the increased demand for spices in the last two decades.
The demand for spices is growing around 5.4 % per annum.
Such impressive demand is a huge opportunity for investors. You can export Fenugreek to European countries where it is not grown, and make good profit from it. The business of exporting goods overseas is highly profitable if you do it right. In other words, you should know your onions in the business.