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Yes but the Portuguese had no real part in that trade and the return of investment for their initial expeditions was massive. They would have still been extreme
by ffgjgf1 3y ago
Yes but the Portuguese had no real part in that trade and the return of investment for their initial expeditions was massive. They would have still been extremely profitable even if the prices of spices in Europe was a bit lower.
- namaria 3y agoThis is incorrect. Portuguese and Lisbon based traders more generally linked Mediterranean and North Sea ports. The transit between Ghent/Antwerp, Lisbon and Barcelona, Pisa, Genoa and Venice was a mainstay of late middle ages European trade. The run around Africa was massively more risky than this status quo and average profits did not increase significantly. The main change thereafter was the market capture.