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Date: 30-Dec-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

  • This gazette notification extends the existing Minimum Export Price (MEP) for natural honey.
  • It specifies that the export of natural honey under ITC(HS) code 04090000 will continue to be subject to a minimum export price of US$ 2000 per metric ton.

Key Changes

  • The Minimum Export Price (MEP) of US$ 2000 per metric ton for natural honey, which was previously applicable until December 31, 2024, has been extended.
  • The new expiry date for the MEP is now December 31, 2025.
  • This extension is applicable to natural honey classified under ITC(HS) code 04090000.

Impact Analysis

Honey Exporters

  • Exporters who were anticipating a change in MEP will need to adjust their pricing strategies to comply with the extension.

Honey Producers

  • The extension may provide some stability to the market, as it reduces the uncertainty around export prices.

Government Agencies

  • The government aims to maintain a stable export market for honey, ensuring fair prices for exporters.

International Buyers

  • This may influence their sourcing decisions and pricing strategies.

Action Items

  • Government agencies should continue to monitor the export market and enforce the MEP.

Key Entities Referenced

Foreign Trade (Development & Regulation) Act, 1992: The primary legislation that empowers the government to regulate foreign trade, including setting export policies and minimum export prices. Foreign Trade Policy, 2023: The policy document that outlines the government's objectives and strategies for promoting and regulating foreign trade. Directorate General of Foreign Trade (DGFT): The government agency responsible for implementing and enforcing foreign trade policies, including the MEP on honey. ITC(HS) code 04090000: The Harmonized System code used to classify natural honey for trade purposes. Notification No. 75/2023 dated 14.03.2024: The previous notification that set the initial MEP on natural honey, which is now being amended by this notification.
Official Source Record View Original Source →
See Full Document Text
रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99 सी.जी.-डी.एल.-अ.-31122024-259747 CG-DxLx-xEG-I3D1H1x2x2x0 24-259747 xxxGIDExxx असाधारण EXTRAORDINARY भाग II—खण् ड 3—उप-खण्ड (ii) PART II—Section 3—Sub-section (ii) प्राजधकार स ेप्रकाजित PUBLISHED BY AUTHORITY स.ं 5216] नई दिल्ली, सोमवार, दिसम् बर 30, 2024/पौष 9, 1946 No. 5216] NEW DELHI, MONDAY, DECEMBER 30, 2024/PAUSHA 9, 1946 ( ) ( ) vf/klwpuk ubZ fnYyh] 30 fnlEcj] 2024 श का.आ. 5636 (अ).—le;&le; ij ;Fkk la'kkfsèkr] fons'k O;kikj uhfr 2023 ds iSjk 1-02 vkjS 2-01 ds lkFk ifBr fons'k O;kikj ¼fodkl ,oa fofu;eu½ vfèkfu;e] 1992 ¼1992 dh la[;k 22½ dh èkkjk 5 ds lkFk ifBr èkkjk 3 ds rgr iznÙk 'kfä;ksa dk ç;kxs djrs gq, vkSj iwoZ dh vf/klwpuk la- 75@2023 fnukad 14-03-2024 ds la” kk/s ku eas dsUæ ljdkj ,rn~}kjk vuqlwph&II ¼fu;kZr uhfr½ ds vkbVhlh ¼,p,l½ dksM 04090000 ds varxZr izk—frd “kgn ds U;wure fu;kZr ewY; dh “krZ dks fuEukuqlkj c<+krh gS %& iz” kqYd en en fooj.k fu;kZr uhfr uhfrxr “krZ ,p,l dksM 0409 00 00 izk—frd “kgn eqDr - izfr ehfVªd Vu ¼ih,eVh½ 2000 vehfjdh MkWyj ds U;wure fu;krZ ewY; ¼,ebZih½ ds v/khu 8470 GI/2024 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)] izk—frd “kgn ij U;wure fu;kZr eYw ; ¼,ebZih½ dk s 31 fnlEcj] 2024 ls vkxs 31 fnlEcj] 2025 rd c<+k;k x;k gSA ¼Qk-l-a 01@91@180@879@,,e08@bZlh@[kaM 8@ikVZ Qkby@bZ&38272½ lark"s k dqekj lkjaxh egkfuns'kd fons'k O;kikj vkSj insu vij lfpo MINISTRY OF COMMERCE AND INDUSTRY (Department of Commerce) (Directorate General of Foreign Trade) NOTIFICATION New Delhi, the30th December 2024 No. 45 /2024-25 Subject: - Imposition of Minimum Export Price (MEP) on Export of Honey. S.O. 5636 (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), read with Para 1.02 and 2.01 of the Foreign Trade Policy, 2023, as amended from time to time, and in amendment of the earlier Notification No. 75/2023 dated 14.03.2024, the Central Government hereby extends the condition of Minimum Export Price of Natural Honey under ITC(HS) code 04090000 of Schedule-II (Export Policy), as under:- Tariff item Item description Export Policy condition HS Code Policy 0409 00 00 Natural Honey Free Subject to a Minimum Export Price (MEP) of US$ 2000 F.O.B per Metric Ton (PMT), till 31stDecember, 2025. 2. Effect of this Notification: Minimum Export Price (MEP) on Natural Honey is extended beyond 31st December, 2024 till 31st December, 2025. (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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