Post by Trade facilitator on Jan 20, 2021 10:36:30 GMT 1
Fenugreek extract are ingredients in some products, i.e. garam masala, cosmetics soaps, some syrups products, a spice blend condiment tea, etc.
Nigeria is highly ranked in the growing of fenugreek. It is also found to possess anti-microbial and anti-diabetic properties. It is commonly used as vegetables, herbs (fresh or dried leaves).
Import demand for fenugreek is more pronounced in the European countries and the USA. Although other advanced countries of the world are also not left out.
In terms of value and quantity, the European Economic Council constitutes a very large market for fenugreek species among other global markets. The European Union alone imports US$1. 3 billion worth of fenugreek spices yearly. In the Middle East, the growth rate of importation of the spices has increased tremendously over time.
With more than 3.2million MT species of fenugreek produced in Nigeria only about 0. 6million are consumed locally.
In the past two decades, export demand and preference for fenugreek natural color has significantly increased. The increase is discovered to have occurred by about 5.4 percent per annum, according to international ratings.
Since fenugreek is not grown in the European countries, the demand for the very important species has continued to be on the increase and as such create a huge export opportunity for investors in the trade because of its ability to yield better profits.
However, understanding rudiments of export business requires tutelage by the professionals.
Nigeria is highly ranked in the growing of fenugreek. It is also found to possess anti-microbial and anti-diabetic properties. It is commonly used as vegetables, herbs (fresh or dried leaves).
Import demand for fenugreek is more pronounced in the European countries and the USA. Although other advanced countries of the world are also not left out.
In terms of value and quantity, the European Economic Council constitutes a very large market for fenugreek species among other global markets. The European Union alone imports US$1. 3 billion worth of fenugreek spices yearly. In the Middle East, the growth rate of importation of the spices has increased tremendously over time.
With more than 3.2million MT species of fenugreek produced in Nigeria only about 0. 6million are consumed locally.
In the past two decades, export demand and preference for fenugreek natural color has significantly increased. The increase is discovered to have occurred by about 5.4 percent per annum, according to international ratings.
Since fenugreek is not grown in the European countries, the demand for the very important species has continued to be on the increase and as such create a huge export opportunity for investors in the trade because of its ability to yield better profits.
However, understanding rudiments of export business requires tutelage by the professionals.
