Due to currency devaluation, Indian honey becomes more price competitive
Chayan Mukherjee
Published May 16, 2020
Buyers from Korea, Japan, and Australia are now looking to import a bulk of their requirements of honey from Indian producers. Until now, buyers from these countries have mostly imported from China, but from this year onwards, these buyers are looking at an alternative source. Indian honey is superior in quality to honey from China but Chinese prices are far lower. However, due to the COVID-19 effect, the rupee has become weaker against the USD, resulting in price attractiveness in international markets, particularly to buyers in these 3 countries. Most of the Indian honey is exported to the USA, Canada, Middle East, and Africa, with the USA amounting for the bulk of imports. More buyers from the USA are expected to import from India as well due to rupee devaluation.
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