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Thread: $1.75 Honey

  1. #21
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    LA area lt. amber in barrels going for $1.20. In Kansas they are paying around $1.40. Golden Heritage honey at Costco is $11.50 for three bears, (4.5 lbs) in LA. I sell water white sage in 5 ga buckets for $160.00. Up from $130.00 per bucket. There was a little resistance to the new price but my customers are coming around. Oct 2 2008

  2. #22
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    Default Re: $1.75 Honey

    I thought bumping this up would be fitting for present prices being offered.lol
    Leer Family Honey Farm-Shannon Leer

  3. #23
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    Default Re: $1.75 Honey

    US large packer confirmed ,CANADIAN HONEY OFFERED AT 1.25 US,delivered, =1.83 Canadian, less freight,duty, customs brokerage
    No takers ,or very little moving...............large carryover in the US.............hungry,starving packers are the best buyers

  4. #24
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    Default Re: $1.75 Honey

    Quote Originally Posted by irwin harlton View Post
    US large packer confirmed ,CANADIAN HONEY OFFERED AT 1.25 US,delivered, =1.83 Canadian, less freight,duty, customs brokerage
    No takers ,or very little moving...............large carryover in the US.............hungry,starving packers are the best buyers
    Yes, I've heard the same from quite reliable sources. Buyers simply aren't buying, depressing to say the least. Fortunately many of us in the US have almond pollination to fall back on.
    "People will generally accept facts as truth only if the facts agree with what they already believe."- Andy Rooney

  5. #25
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    Default Re: $1.75 Honey

    Does anyone have a clue why it is that the buyers are sitting on their hands here? Is it cheap overseas honey flooding the market, or an overabundance in the US causing this? Just trying to understand the problem...
    Thomas Bartram

  6. #26

    Default Re: $1.75 Honey

    Must be a global problem. Same here in Germany: buyers don't buy at the moment. There are rumors out, that prices will go down this year, here in Germany that is. At least for bulk honey. With no obvious reason.

  7. #27
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    Default Re: $1.75 Honey

    Im part of a large Facebook beekeeping forum where I have several friends that are mayor exporters in Mexico, Venezuela, Argentina and Uruguay. They all are reporting bottom prices and excess inventories. The honeys from new emerging countries at the Honey International Markets are making an impact. Some good quality honey from Argentina was offered at $1.20 and it did not get a bite. There is honey from Mexico, produced and bottled for the European Market wish has a strict set of health requirements being offered at $1.25 to $1.40. Mesquite and Orange Blossom Honeys are holding a good demand and price at around $1.60 to $1.90 per pound already at a USA port but, most of it is consumed in Europe. Creamed Yellow is keeping a high demand from the Germans and Japan and last year, a large force of Chinese buyers were trying to get as much honey from mangle and the Creamed Yellow. This Chinese buyers are offering more for the honey than the Germans and even Argentinians that have established themselves in Mexico as mayor buyers. The one thing that under my un-educated eye is still going for the USA produced honeys is that people want to buy American Honey and willing to pay the price. The international market has a large inventory of honeys that will keep on putting pressure into all the industry to keep prices down.

  8. #28
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    Default Re: $1.75 Honey

    Could it have anything to do with recent and expected currency fluctuations? The USD is expected to strengthen against virtually every other currency around the globe. A stronger dollar means the ability to buy more honey per dollar and/or gives packers a reason to push down US produced honey prices. Buyers don't like to buy today if they expect lower prices tomorrow...

  9. #29
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    Default Re: $1.75 Honey

    Quote Originally Posted by drlonzo View Post
    Does anyone have a clue why it is that the buyers are sitting on their hands here? Is it cheap overseas honey flooding the market, or an overabundance in the US causing this? Just trying to understand the problem...
    I think it's the byproduct of a strong dollar attracting imports and the mentality of a falling market I know what it isn't. It isn't a lack of consumer demand but rather a lack of consumers that demand US honey. The US consumes well over 400 million lbs. annually but usually produces around 150 million pounds. Currently the US imports around a million pounds per day of product that is labeled honey and believed to be from the posted country of origin. China is far and away the leader in world honey production. Add that all up and come to your own conclusions.
    "People will generally accept facts as truth only if the facts agree with what they already believe."- Andy Rooney

  10. #30
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    Default Re: $1.75 Honey

    Quote Originally Posted by jim lyon View Post
    I think it's the byproduct of a strong dollar attracting imports and the mentality of a falling market I know what it isn't. It isn't a lack of consumer demand but rather a lack of consumers that demand US honey. The US consumes well over 400 million lbs. annually but usually produces around 150 million pounds. Currently the US imports around a million pounds per day of product that is labeled honey and believed to be from the posted country of origin. China is far and away the leader in world honey production. Add that all up and come to your own conclusions.

    Are US consumers lacking demand for US honey or commercial honey? Are more people trying to find local beekeepers as their source? I know it would take ALOT of hobbyist beekeepers to produce even a drop in the bucket for the needs for lets say a single bakery, but retail local honey seems to be going through the roof. I sell for $9/lb and seen it go between 14-20 in some markets. I know cheep honey at our local grocery store has dust sitting on the bottles because they don't turn over, yet me and every other local guy can't keep enough in stock. Do you feel this even makes a dent in the commercial market?

  11. #31
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    Default Re: $1.75 Honey

    Harley, certainly it's an element of the market for sure. I think perhaps only the stores themselves have the statistics showing just how much local honey is sold as local at these higher prices. Most any grocery store seems to stock such local products (including the biggies like Wal Mart) and it's great for the small producer/marketer. The bottom line, as always, is grocery stores want products that sell, if it's for a higher price then it's better for everyone including the retailer who works on a markup. I would assume, though, that there are shoppers who shop strictly by price and another segment for whom the perception of "healthier" rather than cheaper dominates their decision of which product to buy. I have always felt that honey is an impulse buy more than a grocery list item and therefore must be appealing to the eye and even better if there is an interesting story behind it such as a local address.
    "People will generally accept facts as truth only if the facts agree with what they already believe."- Andy Rooney

  12. #32
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    Default Re: $1.75 Honey

    Quote Originally Posted by drlonzo View Post
    Does anyone have a clue why it is that the buyers are sitting on their hands here? Is it cheap overseas honey flooding the market, or an overabundance in the US causing this? Just trying to understand the problem...

    Yes it is cheap imports bringing the prices down. Certain packers, one in Iowa now only deal in imported honey. They have taken many customers from packers like Kallas honey who only deals in domestic honey. A meat processing plant doesn't really care where the honey comes from as long as it makes the honey ham sweet. So if they can pay 30-50 cents less over a million lbs a year its worth it to them. These are facts that suck for us producers.

  13. #33
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    Default Re: $1.75 Honey

    Jim- I'm not so sure about impulse buy, maybe impulse between which brand to pick, but I see it more as a "sophisticated" purchase to someone who wasn't exposed to it from an early age. That is probably bad terminology, but I don't know how else to describe it. Lets just say that when I was young and starting out and we couldn't really afford a pot to pee in, honey was nowhere near my radar. It wasn't until I was old enough to care more about my health and learned that honey was a better alternative than some other sweetners that I started looking into it. I like the story Tim Ive's tells, he got into honey because of MT. Dew. He was drinking like 15 bottles a day and had to quit so for some reason he switched to honey and was going through I believe he said a quart every other day. LOL He decided making his own honey would be cheaper. This has been an interesting conversation and I appreciate all you big guys speaking about it.

  14. #34
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    Default Re: $1.75 Honey

    Now that I think about it I hardly ever see any product marketing campaigns about honey that come from large beekeeping associations, honey packers, etcetera. At least not to the extent you see for items like milk or orange juice. Maybe whoever in the supply line has the largest operating margins (like maybe packers?) could be enticed to put on a campaign to promote honey..............especially U.S. honey!

    Since I'm commenting...........Does anyone know where I can find data on market share in the honey packing business? or especially publicly held honey packers? I'm curious about why there is such a large spread between the retail price of honey and what beekeepers are getting for their honey.

  15. #35
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    Default Re: $1.75 Honey

    Quote Originally Posted by RichardsonTX View Post
    I'm curious about why there is such a large spread between the retail price of honey and what beekeepers are getting for their honey.

    there isn't a huge spread between commercial wholesale and commercial retail. $4.42/lb at walmart. http://www.walmart.com/ip/Great-Valu...16-Oz/10533931



    That seems to be fairly standard markup prices. If you are trying to compare $1.25 wholesale prices to $20 boutique prices, you can't they are apples and oranges. The people buying honey that expensive aren't just buying honey, they are buying " a taste of their neighborhood " as well.

  16. #36
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    Default Re: $1.75 Honey

    Quote Originally Posted by Harley Craig View Post
    there isn't a huge spread between commercial wholesale and commercial retail. $4.42/lb at walmart. http://www.walmart.com/ip/Great-Valu...16-Oz/10533931



    That seems to be fairly standard markup prices. If you are trying to compare $1.25 wholesale prices to $20 boutique prices, you can't they are apples and oranges. The people buying honey that expensive aren't just buying honey, they are buying " a taste of their neighborhood " as well.
    It looks like a huge spread to me even at $4.42/lb retail. Anyone who is a member of a large packing coop care to share what the gross and operating margins are on their income statement? and maybe a total asset figure if they have access to it? and maybe the Selling, General, & Administrative expenses are as a percentage of sales?

  17. #37
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    Default Re: $1.75 Honey

    Has anyone compiled any data comparing price movements for what the beekeeper is getting versus retail prices? and maybe how consumption of honey in the U.S. compares to that? I haven't but it seems the beekeeper trying to produce honey as a primary product is getting the short end of the stick in the U.S.

  18. #38
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    Default Re: $1.75 Honey

    Quote Originally Posted by RichardsonTX View Post
    It looks like a huge spread to me even at $4.42/lb retail. Anyone who is a member of a large packing coop care to share what the gross and operating margins are on their income statement? and maybe a total asset figure if they have access to it? and maybe the Selling, General, & Administrative expenses are as a percentage of sales?
    you're kidding yourself asking these questions. This isn't all fun and games for some people. It's business.

  19. #39
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    Default Re: $1.75 Honey

    Quote Originally Posted by clyderoad View Post
    you're kidding yourself asking these questions. This isn't all fun and games for some people. It's business.

    Clyde, I am not kidding myself one bit. I'm trying to learn as much as I can about the industry, where the margins are the highest, etcetera and those within the industry need to be keeping themselves informed as much as possible too. Being able to negotiate a better price for your product from another layer in the supply chain who may have some dollars that could go in your pocket is serious business. Understanding the value of what you do in relation to others in the chain is import so that your efforts/investment in the process is properly rewarded.

  20. #40
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    Default Re: $1.75 Honey

    Quote Originally Posted by RichardsonTX View Post
    Clyde, I am not kidding myself one bit. I'm trying to learn as much as I can about the industry, where the margins are the highest, etcetera and those within the industry need to be keeping themselves informed as much as possible too. Being able to negotiate a better price for your product from another layer in the supply chain who may have some dollars that could go in your pocket is serious business. Understanding the value of what you do in relation to others in the chain is import so that your efforts/investment in the process is properly rewarded.
    And you're going to help everyone? on a public forum?
    Take a trip over to that packer in McKinney that has organic product in the Costco's along the East Coast to start your learning.

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