The most brilliant red in the world came from a crushed cactus insect, and Spain guarded its secret for nearly three centuries. Aztec crimson tribute became one of the empire's most valuable exports after silver, the target of spies and smugglers. Synthetic dyes later collapsed the trade, and today's carmine (E120) survives in food and cosmetics.
The claim that cochineal ranked second only to silver among Spanish American exports is a strong generalization, but the ranking shifts by period. How secret the secret really was is also questioned, since microscopy named it an insect by the early 1700s.