New Zealand honey exports to Korea increased 65 per cent last year, and UMF Honey Association chief executive John Rawcliffe says it is still a significant market, especially for mānuka honey, which is why the industry has fought so hard to prevent Australian honey producers from using the term.
New Zealand wine has undoubtedly benefited from our Free Trade Agreement (FTA) with Korea, and like Kiwifruit and a number of other products, it now enters the country duty free.
Although the FTA will progressively eliminate tariffs on most New Zealand exports to Korea by 2030, some hefty duties remain.
There is a strict quota for honey imports, with only selected companies allowed to export, and there is still a 20 per cent tariff.
Exports outside the quota are subject to duty of 243 per cent or NZ$2.30 per kilo, whichever is the greater, and the FTA contains no commitment to remove this.
“Korea is an intelligent market, if you start confusing it with anyone using the term [mānuka], you start to lose the trust.”
The market has a lot of potential, but the tariff does make it difficult to do business in Korea.
www.stuff.co.nz
New Zealand wine has undoubtedly benefited from our Free Trade Agreement (FTA) with Korea, and like Kiwifruit and a number of other products, it now enters the country duty free.
Although the FTA will progressively eliminate tariffs on most New Zealand exports to Korea by 2030, some hefty duties remain.
There is a strict quota for honey imports, with only selected companies allowed to export, and there is still a 20 per cent tariff.
Exports outside the quota are subject to duty of 243 per cent or NZ$2.30 per kilo, whichever is the greater, and the FTA contains no commitment to remove this.
“Korea is an intelligent market, if you start confusing it with anyone using the term [mānuka], you start to lose the trust.”
The market has a lot of potential, but the tariff does make it difficult to do business in Korea.
Stuff
www.stuff.co.nz