HS Code:
Alkaloids of rye ergot and their derivatives; salts thereof (HS Code: 293961) are a category of organic compounds derived from ergot, a fungus that grows on rye and other grains. These alkaloids, including ergotamine and ergometrine, are primarily used in the pharmaceutical industry for the production of medicines to treat migraines, induce labor, and control postpartum bleeding. Due to their potent biological activity, trade in these compounds is often subject to strict regulatory oversight to prevent misuse.
Total Trade Volume
USD 45.2 million
Data from 2022
Source
United Nations Comtrade Database
Average Rate
5.2%
Highest Rate
12% (applied by certain developing countries)
Lowest Rate
0% (under free trade agreements like EU-Switzerland)
Increased demand for ergot-based pharmaceuticals
Rising global demand for migraine treatments and obstetric drugs has boosted trade volumes, especially in developed markets.
2021-2022
Shift towards synthetic alternatives
Development of synthetic derivatives is reducing reliance on natural ergot alkaloids, potentially impacting future trade volumes.
2020-2022
Regulatory tightening in key markets
Stricter controls on production and distribution due to potential misuse are creating barriers to trade in some regions.
2019-2022
The European Union introduced updated guidelines for the import and export of ergot alkaloids, requiring additional certification for pharmaceutical manufacturers.
January 2023
This may slow down trade processes but ensures higher safety standards, potentially benefiting compliant exporters.
A major pharmaceutical company in the United States announced a cost-effective method for synthesizing ergotamine, reducing dependence on natural ergot sources.
September 2022
This could shift market dynamics, with reduced demand for natural ergot alkaloids in the long term.
Indian manufacturers have ramped up production of ergot derivatives, targeting markets in Southeast Asia and Africa with competitive pricing.
March 2023
This is likely to increase India's share in global trade, challenging established exporters like Switzerland and Germany.