Government Extends Export Price Lock on Natural Honey

The government has extended the minimum export price of USD 2,000 per tonne for natural honey until December 31, 2025. This price floor, initially imposed in March, affects exports to major markets like the US and UAE. Honey exports have declined from USD 203 million to USD 106.3 million.

The government announced on Monday it would extend the minimum export price (MEP) for natural honey, maintaining a floor of USD 2,000 per tonne. This regulation will now be in place until December 31, 2025.

According to a notification from the Directorate General of Foreign Trade (DGFT), exports below this set price are prohibited. The policy initially took effect in March of this year.

Honey exports during April-October of the current fiscal year reached USD 106.3 million, a decline from USD 177.6 million in 2023-24 and USD 203 million in 2022-23, with major markets including the United States and the UAE.

(With inputs from agencies.)