New buyers from Japan, South Korea and Australia countries attracts Indian honey by impact of Covid-19
Posted On : May 14, 2020,1:57 pm
New Delhi: Countries from South Korea, Japan, and Australia are moves to our Indian market for honey, which they imported from our neighbor country China, industry executives said.
“A number of countries from global buyers who want to change their positions are now they are looking at India as an alternate market to China to source honey in bulk and bottled form. It’s a good opportunity for Indian honey,” CEO of New Delhi-based Apis India said by Pankaj Mishra.
The Indian money value weaker was also making Indian honey more attractive by Exporters said. India exports 60% of its production to the US, West Asia, Canada, and Africa.
Surinder Pal Singh, MD of Ess Pee said as our Indian money becomes competitive compared with China, Indian honey quality is so good when compared with China, so that Indian honey orders may also rise from the US market, but their prices are very lesser than china. But now with the depreciation of the Indian rupee, we will get more orders.
And they were getting commission under the (VKGUY) Vishesh Krishi Gram Udyog Yojna to claim duty credit scrips equivalent at 5% of the free-on-board (FOB) value of exports: said by Exporters.
We have sent a proposal to the government to consider 10% rebate under the Merchandise Exports from India Scheme (MEIS) to enable exporters to cover a part of their losses and changing the present scheme into a direct price incentive to make things much easier, Amit Dhanuka, CEO of Kejriwal Bee Care India, said.
India honey exports grew 19% year-on-year in 2018-19 to 61,333.88 tonnes, valued at Rs 732.16 crore, according to APEDA.
The interest on existing working capital limits and their term loans should be waived off, or alternatively, interest subvention may be given up to September 30, 2020, and thereafter decreases to the prime lending rate, was the next demand of the industry.