Beesource Beekeeping Forums banner

Bulk honey prices and market outlook

824K views 1K replies 169 participants last post by  The Honey Householder 
#1 · (Edited by Moderator)
Deflation , then inflation and currently a whole bunch of de-leaverageing going on in this crazy economy, which I hear from the majority with crystal balls, that is only going to get worse as a recession or a depression .
Heard some packers had dropped their offering prices......... hadn't noticed any downward pricing going on the store shelf's,to the contrary , prices were actually going up there.
A Canadian honey broker recently had a offer out for 1.50 Canadian,picked up in your yard, drums lost , for 10 loads, alot of phone calls later the order was filled and she is working on another order for the same price,I hear. Canadian dollar was trading around 1.25 US. That may be GOOD PRICE at present market conditions........ but I doubt it.I don't think supply and demand have entered the big picture yet.Other Current Canadian offers were 1.40. UK honey is selling at up to £2.30 per pound in BULK- source Bee -L.
Maybe that supply and demand won't enter the pic if the packers get there way.

I must remind myself that honey is not one of those necessity foods like bread and milk and that I don't need to be quite as greedy as some of those wall street folks
 
#798 ·
2.85/lb for 50 drums of wildflower. 2012 honey crop is looking pretty bleak and prices are rising across the board from what we have heard. If you are fortunate enough to have made some honey or have honey on hand, I wouldn't part with it for anything close to last year's price. $2.50/lb or bust.

@odFrank; where our industry has enjoyed its time in the spotlight and honey producers/beekeepers are benefitting from a more educated consumer, the price of commodities and sugars are at all time highs and are not looking like they are going down any time soon. Honey has traditionally mirrored the price of sugar. With the drought and dismal corn crop this year they are talking about an 8% increase in prices.

I personally think it's great time to sell if you have the honey, but I wouldn't be too eager to let go of your inventory unless you get your socks blown off. I was offered $2.25/lb for everything I produced this year and whatever I had on hand. I held out and two months later, I was offered $2.85/lb. So far, patience has been a virtue.
 
#800 · (Edited by Moderator)
2.85/lb for 50 drums of wildflower......
Wow, hadnt heard any numbers like that yet. Major midwest and eastern packers are still around the $2.00 figure. No doubt there are some nervous honey buyers out there with some of the crop reports I am hearing.
Actually sugar prices and honey prices have never really had much of a connection, like honey it is a unique and complex market. Current sugar prices on the board of trade are around .22 per pound which is about 25% below the .30+ cents level of just over a year ago. It could well be that sugar will become more affordable than corn syrup with corn prices reaching all time highs.
 
#802 ·
Talked to an USA beekeeper friend I have know for over 30 years and who happens to be an past president of the AHPA, he stated that the bulk price had risen to $2.00, BUT RECENTLY DROPPED BACK to 1.95........he runs bees in Montana and he had been up there and said things were ugly.He calls honey harvesting and extracting an rodeo and boy it sure can be that.I sometimes think while in that process of pulling honey and getting the extraction done......this has got to be my last rodeo but it seems I always come back for more......a definition of insanity , doing the same things over and over but expecting different results
 
#815 ·
Doesn't that sound familiar! ha ha ha

Talked to an USA beekeeper ........he runs bees in Montana and he had been up there and said things were ugly.He calls honey harvesting and extracting an rodeo and boy it sure can be that.I sometimes think while in that process of pulling honey and getting the extraction done......this has got to be my last rodeo but it seems I always come back for more......a definition of insanity , doing the same things over and over but expecting different results
 
#804 ·
Allot of this is supply and demand. Some of this is devaluation of the dollar because of our debt. $2.00 per Lb. honey is not unrealistic when you consider 4 or 5 dollar a gallon diesel . The fact is people are getting out of the bee business allot faster than they are getting in. People have to eat so demand is not going away anytime soon.
 
#807 ·
Honey Update:

August 2012

http://www.skamberg.com/


In early May 2012, the U.S honey crop projections were somewhat favorable. Moderate early spring rains were alleviating some of the moisture concerns caused by the very dry winter conditions in many of the prime honey producing regions of the U.S. Then in late May and early June, the rain just seemed to stop in many regions of the country, and intense heat started burning everything up.

Current 2012 U.S. honey crop projections are now for only a slightly better crop than last year's dismal 148 million lb. crop.
 
#808 ·
Honey Update:

August 2012

http://www.skamberg.com/


In early May 2012, the U.S honey crop projections were somewhat favorable. Moderate early spring rains were alleviating some of the moisture concerns caused by the very dry winter conditions in many of the prime honey producing regions of the U.S. Then in late May and early June, the rain just seemed to stop in many regions of the country, and intense heat started burning everything up.

Current 2012 U.S. honey crop projections are now for only a slightly better crop than last year's dismal 148 million lb. crop.
2006 155 million pounds
2007 148 " "
2008 161 " "
2009 146 " "
2010 176 " "
2011 148 " "
I'm not real sure what the folks at Skamberg are expecting from the US crop anymore, the days of 200 million pound crops have been over for quite some time. The US honey crop has averaged only 156 million pounds over the past 6 years. Perhaps last years 176 million pounds was the aberration, if you take that out you arent much over a 150 million pound average, about what they are hinting 2012 might be.
 
#810 ·
Good point. Five or ten million pounds one way or the other really dosent change the big picture too much. People love to complain about honey imports (and I do to the extent that I expect them to be pure and clean) but isn't it a good thing that the US now has an appetite for over 400 million pounds a year? Just raise a good quality product folks and don't stress about whether the shortage is being filled in by foreign production.
 
#811 ·
and I do to the extent that I expect them to be pure and clean)

I think history tells us this not the case, a lot of inferior product imported, blended and sold

that the US now has an appetite for over 400 million pounds a year? the appetite maybe based on large percentage OF INFERIOR PRODUCT
The US producer is finally getting a good price for his premium product, we in canada however are not enjoying the same good prices
 
#812 ·
I think we will see a steady increase in the price. I had a long conversation with the owner of what is stated on their web site as the worlds largest honey processor, which i'll not name you can google , after I was told they were not buying dark honey here in sunny FLA.
Seems all the imports they have been buying are dark, 75 to almost 85 mm and white honey is not to be found . He said he would'nt be suprised to see by years end prices of 2.20 a pound for good light USA honey and there is a huge demand for it . Of course you have to have strong , live hives and a necter source to get that , but it certainly looks stable for the future at least in the next year or two.
I can only hope that the beekeepers of other countries remember where the prices are and don't drive them down if they do get large crops in the future.
 
#816 ·
Honey Update:

November 2012

http://www.skamberg.com/
A worldwide shortage of bees, increased consumer demand, and diminishing forage area for bees to gather nectar have all contributed to a worldwide honey shortage. Price offerings in the world market range from 4% to 12% higher than last year at this time. With the U.S. Customs and the Justice Dept. cracking down on "honey laundering", shipments of fraudulent honey entering the U.S. has slowed. This stopped a lot of the very low priced honey that was entering the U.S. market and has narrowed the gap on the two tiered honey pricing that we have seen for several years. Much depends on each subsequent countries honey crop as it enters the world market, with good crops helping to stabilize prices and poor crops driving prices higher.

Canada - The demand for Canadian honey is at an all time high and their prices reflect U.S. raw honey prices.
 
#817 ·
"Much depends on each subsequent countries honey crop as it enters the world market,"

Buyers are , and have been playing the lower priced Argentina card for quite some time,reportedly future contracts have been bought on this 2013 years production.How much of this crop will be white is the big question?The industrial, bakery trade market is reported as being very competitive, so much so that some players are thinking of withdrawing from it cause there's little profit to be made.Argentina imports are up in Canada from last year.
 
#818 ·
Very dry reports coming from Argentina cropping reports, or the ones I have read anyway. One of the many reason why there is so much soybean production down there. The huge crop potential seems to have been squashed once again. If the cropping reports tells you anything. . . .

BeeMaid suggests the honey market to be climbing from $1.75 /lbs. The suggested the big price discrepancy between US and Canadian honey to be narrowing to normal levels. Positive news in our honey market.
 
#820 ·
from NHB
International Bulk Prices

Total Average Bulk Prices of Honey Imported from Four Countries. Source: U.S. Department of Commerce, as reported monthly in the USDA National Honey Report using c.i.f. import value and therefore excluding U.S. import duties
2010 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Canada $1.63 $1.55 $1.58 $1.59 $1.54 $1.56 $1.65 $1.47 $1.56 $1.56 $1.65 $1.63
Mexico $1.30 $1.19 $1.28 $1.46 $1.47 $1.40 $1.45 $1.26 $1.38 $1.25 $1.28 $1.19
Argentina $1.36 $1.42 $1.41 $1.45 $1.46 $1.48 $1.48 $1.47 $1.45 $1.45 $1.45 $1.45
China $0.00 $0.00 $1.21 $1.20 $1.22 $1.27 $1.38 $0.00 $1.38 $1.51 $1.50 $0.28
Average $1.43 $1.38 $1.37 $1.43 $1.42 $1.43 $1.49 $1.40 $1.44 $1.44 $1.47 $1.14


2011 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Canada $1.71 $1.73 $1.75 $1.72 $1.69 $1.64 $1.89 $1.60 $1.67 $1.69 $1.69 $1.58
Mexico $1.29 $1.19 $1.51 $1.66 $1.66 $1.60 $1.46 $1.40 $1.17 $1.17 $1.31 $1.41
Argentina $1.45 $1.47 $1.50 $1.49 $1.51 $1.51 $1.52 $1.48 $1.45 $1.42 $1.45 $1.44
China $1.50 $1.52 $1.53 $1.55 $1.53 $1.53 $1.57 $1.58 $1.50 $0.00 $0.00 $2.08
Average $1.49 $1.48 $1.57 $1.61 $1.60 $1.57 $1.61 $1.52 $1.45 $1.43 $1.48 $1.63


2012 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Canada $1.67 $1.66 $1.63 $1.67 $1.68 $1.76 $1.77 $1.70 $1.75
Mexico $1.29 $1.25 $1.28 $1.32 $1.48 $1.45 $1.40 $1.37 $1.32
Argentina $1.37 $1.37 $1.33 $1.34 $1.36 $1.36 $1.37 $1.39 $1.37
China $0.00 $0.00 $0.00 $1.45 $0.00 $0.00 $0.00 $0.00 $0.00
Average $1.45 $1.43 $1.41 $1.44 $1.51 $1.52 $1.51 $1.48 $1.48
 
#826 ·
A packer that post in abj as buying and selling honey has just purchased 900,000lbs of chinese honey to blend. He is low balling anyone who calls them saying there is plenty of honey out there that they do not need it. I have a customer food manufacture that I am talking to that will make my honey mustard and he stated he was buying pals from them for 1.60 a pound. He sounded very suprised when I told him it was chinese honey he was buying.
 
This is an older thread, you may not receive a response, and could be reviving an old thread. Please consider creating a new thread.
Top