HS Code:
The Colby category, typically associated with cheese products under the Harmonized System (HS) Code 0406.90 (Other cheese), refers to a specific type of semi-hard cheese originally developed in Colby, Wisconsin, USA. It is similar to cheddar but has a milder flavor and softer texture due to a unique manufacturing process involving washing the curds. Colby cheese is widely traded globally, often used in processed food products, sandwiches, and as a table cheese. Trade in this category is influenced by dairy production capacities, consumer preferences for cheese products, and international trade agreements specific to agricultural goods.
Total Trade Volume
Approximately $1.2 billion USD
Data from 2022
Source
International Trade Centre (ITC) Trade Map and UN Comtrade Database
$450 million USD
37.5% of total trade of total trade
Increasing
$200 million USD
16.7% of total trade of total trade
Stable
$150 million USD
12.5% of total trade of total trade
Increasing
$100 million USD
8.3% of total trade of total trade
Stable
$80 million USD
6.7% of total trade of total trade
Decreasing
Average Rate
15% ad valorem
Highest Rate
35% (applied by certain developing countries to protect local dairy industries)
Lowest Rate
0% (under free trade agreements such as USMCA and EU-NZ FTA)
Rising demand for processed cheese in Asia-Pacific
Increased exports to countries like China and Japan, driving trade volume growth by 8% annually
2021-2022
Shift towards organic and specialty cheese
Higher value per unit for Colby cheese labeled as organic, boosting profit margins for exporters
2020-2022
Impact of climate change on dairy production
Fluctuations in supply due to adverse weather conditions in key producing countries like New Zealand and Australia
2022
Under the United States-Mexico-Canada Agreement, new dairy quotas have been implemented, allowing increased access for U.S. Colby cheese into Canada.
January 2023
Expected to increase U.S. exports to Canada by 5% over the next two years.
The recently signed FTA between the EU and New Zealand includes reduced tariffs on dairy products, including Colby cheese, boosting trade potential.
June 2023
Likely to enhance New Zealand’s market share in the European Union by reducing trade barriers.
China has ramped up imports of cheese products, including Colby, due to changing dietary preferences and urbanization.
March 2023
Significant growth opportunity for major exporters like the U.S. and Australia in the Chinese market.