Honey may turn sweeter for Indian exporters

Honey may turn sweeter for Indian exporters in the current financial year owing to the ongoing trade war between the United States and China that may lead to a spurt in demand for the local produce. 

 

Exports are likely to go up as the global demand picks up in the later part of the year, said S P Singh, managing director of Mohali-based Ess Pee Quality Products, even as he expressed concern over input costs and rise in procurement price in India compared to that in China. 

 

Honey exports from India grew 19% year-on-year in 2018-19 to $105 million and 13% in the previous fiscal to $101 million amid increasing demand. In the first two months of the current fiscal, exports amounted to $18 million. Punjab, West Bengal, Uttar Pradesh and Bihar are among leading honey producing states in India. 

 

The US is the largest importer of honey in the global market and also a top destination for Indian honey. China is a dominant exporter because of its cheaper prices and highest output in the world. Even though higher import duty imposed by the US on Chinese honey is a breather for Indian exporters, cheaper product does finds its way to the top market, said an exporter, who did not wish to be identified. 

 

 

Nonetheless, exporters are optimistic that the ongoing US-China trade war will boost exports from India and keep up the double-digit growth in volumes. The export growth manifests the acceptance of Indian honey in the global market including the US and Europe, said Amit Dhanuka, CEO, Kejriwal BeeCare, whose company exports 85% of its consignments to the US.