HS Code:
The category 'Alkaloids of opium and their derivatives; salts thereof' falls under HS Code 293911. This category includes naturally occurring alkaloids derived from opium, such as morphine, codeine, and thebaine, as well as their synthetic derivatives and salts. These substances are primarily used in the pharmaceutical industry for pain management, anesthesia, and treatment of various medical conditions. Due to their potential for abuse, trade in these products is heavily regulated under international agreements like the Single Convention on Narcotic Drugs of 1961. The global trade of opium alkaloids and derivatives is influenced by strict licensing, quotas, and monitoring by bodies such as the International Narcotics Control Board (INCB).
Total Trade Volume
USD 1.2 billion
Data from 2022
Source
UN Comtrade Database, International Narcotics Control Board Reports
USD 450 million
37.5% of total trade of total trade
Increasing
USD 200 million
16.7% of total trade of total trade
Increasing
USD 150 million
12.5% of total trade of total trade
Stable
USD 100 million
8.3% of total trade of total trade
Increasing
USD 80 million
6.7% of total trade of total trade
Decreasing
Average Rate
5.2% ad valorem
Highest Rate
12% (imposed by certain developing countries)
Lowest Rate
0% (under free trade agreements or for humanitarian medical supply programs)
Rising demand for pain management drugs
Increased production and export of morphine and codeine derivatives, especially in North America and Europe, driven by aging populations and chronic pain conditions.
2020-2022
Shift towards sustainable and legal cultivation
Countries like Australia and India are expanding controlled cultivation of opium poppies to meet global pharmaceutical demand, reducing reliance on illicit sources.
2019-2022
Tightening of regulations
Stricter controls on opioid trade and prescription policies in response to the global opioid crisis have slowed trade growth in some regions.
2018-2022
The International Narcotics Control Board revised the global quotas for opium alkaloid production and trade to address shortages in medical supply while preventing overproduction.
March 2023
Balanced trade flows expected, with increased allocations for countries producing for medical and scientific needs.
The United States introduced new guidelines for importing opium derivatives as part of efforts to combat the domestic opioid crisis, including enhanced scrutiny of supply chains.
October 2022
Potential delays in imports and increased compliance costs for exporters to the U.S. market.
Australia, a leading exporter of legal opium alkaloids, announced investments in expanding cultivation and processing facilities to meet growing global demand.
July 2023
Likely to strengthen Australia's position in the market, potentially increasing competition for other exporters.