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The trade was changed by the Crusades and later the European Age of Discovery, [4] during which the spice trade, particularly in black pepper, became an influential activity for European traders. [5] From the 11th to the 15th centuries, the Italian maritime republics of Venice and Genoa monopolized the trade between Europe and Asia. [6]
The Bandanese preferred free trade so that they could play off the various European countries' merchants against each other and sell their products to the highest bidder. [6] However, the Dutch sought to establish a monopoly on the spice trade so that the Bandanese could sell their products only to the Dutch. [1]
The first phase of European colonization of Southeast Asia took place throughout the 16th and 17th centuries. Where new European powers competing to gain monopoly over the spice trade, as this trade was very valuable to the Europeans due to high demand for various spices such as pepper, cinnamon, nutmeg, and cloves.
The profitable eastern spice trade was cornered by the Portuguese in the 16th century. In 1498, Vasco da Gama's pioneering voyage reached India by sea, opening the first European direct trade in the Indian Ocean.
In fact, there was no general decline in spice imports to Europe after 1453 because Constantinople was not a major trade route in the spice trade, and most trade instead came from Alexandria or Beirut. [2] The only large change in the price of spice occurred much later in 1499 with the start of the Second Ottoman–Venetian War.
From the 8th until the 15th century, the Republic of Venice and neighboring maritime republics held the monopoly of European trade with the Middle East. The silk and spice trade, involving spices, incense, herbs, drugs and opium, made these Mediterranean city-states phenomenally rich.
In this article we will take a look at the 15 largest spice companies in the world. You can skip our detailed analysis of the spice industry’s outlook for 2021 and some of the major growth ...
A merchant of Lisbon describes the overland spice route as follows: Only the markets of Venice and Genoa then scattered these spices all over Europe, great in cost, and without guaranteed arrival. [5] In 1453, with the capture of the city of Constantinople by the Ottomans, the trade of Venice and Genoa reduced to a great degree.
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