For those Indians in the business of honey exports, the past few years have actually been ‘extra sweet’. India’s exports of natural honey has grown in proportion to the increase in consumption across international markets, making this non-fancy food product a clear treat for exporters in India.
Next time you are at a local supermarket, walk around and take a closer look at the aisle selling honey – from natural honey to the processed and value-added type, Indian markets are flooded with honey of various types and brands. And not just India. Even if you look around the aisle selling honey in an American supermarket, the choices available in terms of source and flavour and size and packaging truly boggles the mind. Honey is as ubiquitous in kitchens in the boroughs of Brooklyn as they are in the larder of a quaint Parisian patisserie.
Considered nature’s original sweetener, honey has emerged as a popular alternative for those looking for a healthy switch from processed sugar. While ‘processed honey’ has its share of naysayers, it is the India-produced natural honey that continues to shine in the limelight and has seen a boost in both the domestic and international markets.
SWEETER THAN BEFORE
Indian honey is making a name for itself in international markets is borne by the fact that exports of natural honey from India increased from $31.64 million in FY2010 to $108.68 million in FY2016 – it’s a 243.48% jump! US has been the country that has imported a lion’s share of our honey over the last few years. Imports of natural honey by US from India, witnessed a whopping 355.99% growth during the same period – from $20.93 million in FY2010 to $95.44 million in FY2016. In FY2017 (Q1 and Q2 combined), the total honey exported from India to various countries stands at $42.68 million with US still appearing to have a majority share at $34.78 million. Apart from US, other main importers of honey from India include Saudi Arabia, UAE, Bangladesh and Morocco.
TO US, WITH LOVE
This story is from the March 2017 edition of The Dollar Business.
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