The government on Monday extended the minimum export price or MEP of $2,000 per tonne on natural honey till December 2025. The measure was set to expire on Tuesday. Exports of natural honey is free but will not be permitted if the value is below the MEP.
Since the beginning of this millennium, India's trade landscape has transformed, with both exports and imports of goods surging by over 12 and 15 times, respectively. This growth has been driven not only by a diversification of product categories but also by an expansion into new geographies, reshaping India’s global trade footprint.
The flexible duty, applied previously, could go up to 7% depending on the rouble's exchange rate. The measure will help maintain a balanced ratio between exports and domestic consumption of legumes, the government said in a statement.
India's growing capabilities in high-value sectors like machinery and electronics are supporting the country's exports, amid global uncertainties caused by conflicts, and the gradual economic recovery in developed markets offers improved growth prospects for the Indian exporting community in 2025. Trade experts suggest that if the new US administration imposes higher tariffs on China, Mexico, and Canada, Indian exporters could benefit further by seizing those opportunities.
The first consignment of 27,000 tonnes of rice has arrived in Bangladesh through Chittagong port.
