India Slashes Minimum Export Price for Natural Honey to Boost Global Competitiveness
The central government of India has reduced the Minimum Export Price for natural honey from USD 2,000 to USD 1,400 per metric ton. This change, effective until December 31, 2025, aims to enhance India's competitiveness in the global honey market, maintaining its free export policy.
- Country:
- India
In a strategic move to bolster the country's position in the global honey market, the Indian central government has lowered the Minimum Export Price (MEP) for natural honey. According to a notification by the Directorate General of Foreign Trade (DGFT) dated August 22, the MEP is now set at USD 1,400 per metric ton, a significant reduction from the previous USD 2,000.
The revised pricing condition is set to remain in effect until December 31, 2025. Throughout this period, the export policy for natural honey will continue to be classified as 'Free,' contingent on exporters adhering to the new price structure.
India stands as a prominent player in the honey export industry, with major markets including the US, Saudi Arabia, the UAE, and Canada. Varieties such as mustard and eucalyptus honey are among those predominantly exported. Meanwhile, the Agricultural and Processed Food Products Export Development Authority (APEDA) continues to support honey exporters through various incentives and financial aid.
(With inputs from agencies.)
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