Centuries ago foreigners invaded India to plunder her for her riches. And one of her wealth has been the spices she reaps. Yes, India has been known for her produce of spices, which is also one of the primary products traded in the commodity market. Amongst all the spices grown here, those largely traded on the exchange are:
Cumin seed (Jeera)
Cardamom is termed as the ‘Queen of Spices’. This is because it is regarded as the most exotic of all spices. On an average, India produces approximately 11,600 Million tons of this spice, annually. Of its produce almost 90 per cent is consumed domestically, and the rest is exported to Saudi Arabia and Japan.
In India cumin seed is known as jeera. It is a popular spice with medicinal, or clinical value. Apart from adding to the taste of cooked meals it is also used consumed as:
-A cure for stomach aches
India is regarded as the largest producer of jeera, in the world. It holds the same status as a consumer. Annually, experts estimate that the country produces an average of 1.5 Lakh metric tons of this spice.
India is known to produce an average of 70,000 tons of pepper, per year. The country exports on an average 18,000 to 20,000 tons of pepper every year. This fluctuates depending on the world’s demand.
Though the red chilies are believed to have originated in South America, yet India is considered to be the largest producer of this spice. It is also the world’s biggest red chili consumer.