To get a scoop of this ever-buzzing market, beekeeping offers a "low investment and high returns" option, says a just-released knowledge report from Yes Bank.
The honey market in India is currently dominated by the unorganised sector, which contributes 21,000 tonnes of the total annual output of 35,000 tonnes -- worth Rs 650 crore (Rs 6.5 billion).
"The yield is comparable to world average," notes the report. Users include companies like Dabur India and Himalayan Drugs, in addition to bakery units and hotels.
Referred to as apiculture, a small scale beekeeping operation can be initiated for about Rs 400,000 (which includes operating cost for 12 months), and you could look at a revenue of about Rs 160,000 per year, according to data crunched by the bank.
Besides honey, the production of which does not compete with any other form of agriculture for the main resources required, secondary products such as candles and skin ointments bring "a far better return for the producer than selling the raw commodity", says the report.
The honey export market is currently dominated by China (40 per cent) while India has a small 6 per cent share. The bank recommends "effective and aggressive marketing services... to capture the ever increasing domestic and international market for honey".
While institutional support is available for honey -- Beekeeping Development Board headed by the agriculture secretary pushes the honey agenda and the Khadi and Village Industries Commission has also set up the Central Bee Research and Training Institute - there is clearly scope for more.
"The government should have equity support schemes for such projects, as well as other incentives. This environment friendly industry needs to be encouraged," says Kalyan Chakrvarthy, country head, food and agribusiness strategic advisory and research, Yes Bank, and lead author of the report.
Not only do honeybees promise sustainable rural livelihoods, by encouraging pollination -- the activity by which honey is formed -- these bees also have positive rub-off on the crops, and the environment. The title of the report sums up what needs to be done to grow this industry: "Say yes to honey."
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