In short, it depended on what region the Portuguese were trading with. Sugar was an extremely profitable product coming from Brazil beginning in the late 16th century and through the 17th century. In Africa, gold and slaves were the valuable commodities. Trade throughout the Estado da Índia was much more complicated. For a time, trade was limited to expeditions with an official Royal decree. This, however, did not always deter ambitious (and wealthy) private traders from engaging with local populations to trade for spices and other distinctly asian products. Despite having various governors stationed around the Estado, it was difficult for the Crown to regulate trade. Here is a paper I wrote recently about race relations and commerce during the Portuguese age of exploration if you are interested.

https://drive.google.com/file/d/0B_6NviehEJj4Uk9acjYyNjZ3U0U/view?usp=sharing