I don't really like the idea of apiaries, though... Without apiaries to increase the availability of honey, mead could be a particularly valuable drink.
Well, on this point, from what I can find out in the 5 minutes or so I researched beekeeping history, reuseable apiaries are actually a fairly modern invention (1800s+), while more ancient, DF-safe, apiaries, were apparently build more for the sake of convenience, higher yields, protecting the honey from theft and the elements, etc. in that the hive structure itself was basically destroyed in the collection process.
So maybe the solution to mead being overly cheap could be to have the ability to build apiaries exist alongside the collection of wild honey, and the apiaries represent a higher (and more renewable) level of sophistication, but not an unlimited resource.
Rather like crops are handled-vaguely, anyway-except apiaries could actually be more expensive and difficult (queen bees from the kobolds could be fairly costly, to use my own example, and they wouldn't "store" like seeds can be stored, you'd have to have an apiary ready to "plant" each queen inside, within a few hours, or days at most.).
Ofcourse, bees are slightly more dangerous than crops, too, in that they're still a bunch of bees.
And you'd also want to have some kinds of plants around for the bees to harvest their honey from, which-for the production of various different kinds of honey-especially monofloral varieties-could involve planting certain crops near those apiaries. This requirement could add a lot to the cost/scarcity of honey--especially rare varieties (orange blossom, sourwood, eucalyptus etc., or something 'fanciful'.).
Bees, on the other hand, are useful to farmers for the spreading of pollen, and apiaries could have symbiotic relationships with your crops, improving the yield of various flowering plants (zucchini comes to mind, since lack of proper pollination was one of many obstacles to my less-than-successful attempt to grow zucchini last year).
Eventually, once you start having some high skill beekeepers around, you might realistically end up being able to harvest your own useable queen bees, occasionally. But this could be kept as a relatively rare occurrance, explained away by the crude/primitive beekeeping methods available to our dwarfs.
This would keep your Fortress dependent on trade for new queens, for some time.