30
25
20
15
10
5
0
1600 1640 1680 1720 1760 1800 1840 1880
Year
—°— Cloves —∙— Pepper
Figure 4.2. Spice markups, 1580-1890
(Amsterdam price / Southeast Asian price)
Source: Bulbeck et al. (1998).
34
Trade and Empire, 1700-1870
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