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Date: 14-Mar-2024 Category: Extra Ordinary State: Union Government Country: India

Imposition of Minimum Export Price (MEP) on export of Honey.

Issued by Ministry of Commerce and Industry · Directorate General of Foreign Trade

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Executive Summary & Key Takeaways

What it means

  • The gazette notification imposes a Minimum Export Price (MEP) on the export of natural honey.

Key Changes

  • A Minimum Export Price (MEP) of US $2000 per Metric Ton (PMT) is imposed on the export of natural honey under ITC HS code 0409 00 00.
  • The MEP is effective immediately and is valid until December 31, 2024, or until further orders, whichever is earlier.
  • The export policy for natural honey remains 'Free', but is subject to the specified MEP.
  • Transitional arrangements under Para 1.05 of Foreign Trade Policy, 2023 will be applicable.

Impact Analysis

Exporters of Natural Honey

  • Action Item: Assess current export contracts and pricing strategies to determine the impact of the MEP. Explore strategies to maintain competitiveness, such as focusing on higher-value honey products or markets with higher price tolerance.

Honey Producers

  • Action Item: Monitor domestic honey prices and adjust production and sales strategies accordingly. Explore opportunities to diversify markets and reduce reliance on exports.

International Buyers

  • Action Item: Evaluate alternative honey suppliers and adjust procurement strategies as needed. Assess the impact of increased import costs on consumer prices.

Government

  • Action Item: Monitor export volumes and revenue to assess the effectiveness of the MEP. Engage with stakeholders in the honey industry to address any concerns or challenges.

Key Entities Referenced

Central Government: The entity imposing the Minimum Export Price (MEP) on natural honey exports. Directorate General of Foreign Trade (DGFT): The department under the Ministry of Commerce and Industry responsible for issuing the notification. Foreign Trade (Development & Regulation) Act, 1992: The Act that grants the Central Government the power to impose the MEP. Foreign Trade Policy, 2023: The policy that provides the framework for foreign trade regulations, including the transitional arrangements that apply to this notification. ITC (HS) Export Policy, 2023: The export policy that includes the ITC HS code 0409 00 00 for natural honey.
Official Source Record View Original Source →
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रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99 सी.जी.-डी.एल.-अ.-16032024-253090 xxxGIDHxxx CG-DLxx-xEG-I1D6E0x3x2x0 24-253090 असाधारण EXTRAORDINARY भाग II—खण् ड 3—उप-खण्ड (ii) PART II—Section 3—Sub-section (ii) प्राजधकार स ेप्रकाजित PUBLISHED BY AUTHORITY स.ं 1294] नई दिल्ली, बहृ स्ट्प जतवार, मार् च14, 2024/फाल्ग नु 24, 1945 No. 1294] NEW DELHI, THURSDAY, MARCH 14, 2024/PHALGUNA 24, 1945 ubZ fnYyh] 14 ekpZ] 2024 'kgn ds fu;kZr ij U;wure fu;kZr ewY; ¼,ebZih½ yxkukA .—fons”k O;kikj uhfr] 2023 ds iSjk 1-02 vkSj 2-01 ds lkFk ifBr ;Fkk la”kksf/kr fons”k O;kikj ¼fodkl ,oa fofu;eu½ vf/kfu;e] 1992 ¼1992 dh la- 22½ dh /kkjk 5 ds lkFk ifBr /kkjk 3 }kjk iznÙk “kfDr;ks a dk iz;ksx djr s gq,] dsUnz ljdkj ,rn~}kjk vkbZVhlh ¼,p,l½ fu;kZr uhfr] 2023 dh vulq wph 2 ds vkbZVhlh ,p,l dkMs 0409 00 00 ds rgr izkd`frd “kgn ds fu;kZr ij fuEukuqlkj U;wure fu;kZr ewY; ¼,ebZih½ yxkrh gS%& “ 0409 00 00 izkd`frd “kgn eqDr **31 fnlacj] 2024 rd ;k vxy s vkn's kks a rd] tks Hkh igys gks] 2000 vefsjdh M‚yj çfr ehfVªd Vu ¼ih,eVh½ ds U;wure fu;kZr ewY; ¼,ebZih½ ds v/;/khuAß 1942 GI/2024 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)] 2- vf/klwpuk rRdky çHkko ls ykxw gksxhA fons'k O;kikj uhfr] 2023 ds iSjk 1-05 ds rgr ifjorhZ O;oLFkk,a ykxw gkxsa hA 3- bl vf/klwpuk dk izHkko% izkd`frd “kgn dk fu;kZr ^eqDr* gSA **2000 vefsjdh M‚yj çfr ehfVªd Vu ¼ih,eVh½ dk U;wure fu;kZr eYw ; ¼,ebZih½ 31 fnlacj] 2024 rd ;k vxy s vkn's kks a rd] tks Hkh igys gk]s yxk;k tkrk gSA** [Qk- la- ,e&01@91@180@879@,,e&08@bZlh@[k.M&8@ikVZ Qkby@bZ&38272 ls tkjh] larks"k dqekj lkjaxh] egkfuns'kd fons'k O;kikj inus vij lfpo MINISTRY OF COMMERCE AND INDUSTRY (Department Of Commerce) (DIRECTORATE GENERAL OF FOREIGN TRADE) NOTIFICATION New Delhi, the 14th March, 2024 No. 75/2023 Subject: Imposition of Minimum Export Price (MEP) on export of Honey. S.O 1360(E).—In exercise of powers conferred by Section 3 read with section 5 of the Foreign Trade (Development & Regulation) Act, 1992 (No. 22 of 1992), as amended, read with Para 1.02 and 2.01 of the Foreign Trade Policy, 2023, the Central Government hereby imposes Minimum Export Price (MEP) on export of Natural Honey under ITC HS code 0409 00 00 of Schedule 2 of the ITC (HS) Export Policy, 2023, as under:- Tariff item Item description Export Policy Policy condition HS Code 0409 00 00 Natural Honey Free Subject to a Minimum Export Price (MEP) of US $ 2000 per Metric Ton (PMT), till 31st December, 2024 or until further orders, whichever is earlier.” 2. The Notification will come into immediate effect. Transitional arrangements under Para 1.05 of Foreign Trade Policy, 2023 will be applicable. 3. Effect of this Notification: Export of Natural Honey is ‘Free’. Minimum Export Price (MEP) of US $ 2000 per Metric Ton (PMT) is imposed till 31st December, 2024 or until further orders, whichever is earlier.” [F. No. 01/91/180/879/AM08/EC/Vol.8/PartFile/e- 38272] SANTOSH KUMAR SARANGI, Director General of Foreign Trade Ex- Officio Addl. Secy. Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054.

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