Key Takeaways
- Honey markets are generally quiet as beekeepers and exporters prepare for the 2024 season
- Consumer purchases of honey continue despite higher prices
Honey Market Updates
- US honey crop is expected to be favorable; Smaller yield in the SE due to weather, but better in the Midwest.
- European honey demand is down 10-20% due to inflation and post-COVID trends.
- South American origins are winding down production and gearing up for the new season in early 2024.
- Mexico highland honey harvest beginning soon; average season anticipated.
- Smaller crop expected in Vietnam in 2024 due to anti-dumping activity and lack of global market options.
- Good honey harvest in Canada for the first time in several years.
National Honey Board’s Hive Sessions
- The National Honey Board has started a new quarterly initiative, Hive Sessions, videos designed to educate and inform on topics related to honey.
- Click here to watch the video for the session on: Category Review of Sauces, Dressings, and Condiments.
Anti-Dumping Update
- Mandatory respondents have been identified for Period of Review 1 (POR1) evaluation.
- Vietnam petitioning the US government to be considered a market economy for anti-dumping purposes.
- Ruling on the challenge to Critical Circumstances ruling is expected within the next month.
To view the report as a print-friendly PDF, click here.
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