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Since the mid-1980s, economists have made numerous attempts at estimating the value of honey bee pollination to the Australian economy. The exercise is not straightforward, and a variety of valuation methods have been used.

The purpose of this research was to review previous studies and the economic theory underpinning them, and use the results to prepare an authoritative valuation framework. The resultant framework, which incorporates the concepts of consumer and producer surplus and a partial equilibrium model, was then used to estimate the value of honey bee pollination to the Australian economy.

The study has delivered an updated, defendable and transparent estimate of the economic value of honey bee pollination. The estimate, prepared using 2020-21 gross value of production data, showed that crops worth $12.9 billion are at least partially reliant on honey bee pollination, and the economic contribution attributable to honey bee pollination is $4.6 billion.

The conceptual framework and the spreadsheet model have been provided to AgriFutures Australia to enable routine update of the estimate. AgriFutures Australia is recommended to update the estimate every three to five years in light of changes in demand for honey bee pollination.