HS Code:
The category 'Containing any aromatic or modified aromatic fungicide' falls under the Harmonized System (HS) Code 3808.92, which includes fungicides used primarily in agriculture to protect crops from fungal diseases. These products often contain aromatic compounds or their modified derivatives, which are effective in controlling a wide range of fungal pathogens. This category is critical for global agricultural productivity, as fungicides play a vital role in ensuring food security by minimizing crop losses. The trade of these fungicides is influenced by agricultural demand, regulatory frameworks, environmental concerns, and innovation in chemical formulations.
Total Trade Volume
USD 5.2 billion
Data from 2022
Source
United Nations Comtrade Database
Average Rate
5.8%
Highest Rate
15% (applied by certain developing countries to protect domestic industries)
Lowest Rate
0% (under free trade agreements like EU internal trade or USMCA)
Shift towards bio-based fungicides
Increasing demand for environmentally friendly alternatives is reducing the market share of traditional aromatic fungicides, pushing manufacturers to innovate.
2021-2023
Rising regulatory scrutiny
Stricter regulations in the EU and North America on chemical fungicides are leading to higher compliance costs and market entry barriers.
2020-2022
Growth in agricultural output in Asia-Pacific
Increased agricultural activities in countries like India and Vietnam are driving demand for cost-effective fungicides, boosting trade volumes.
2019-2023
The European Union implemented a ban on specific aromatic fungicide compounds due to their potential environmental and health risks, affecting exporters to the region.
March 2023
Exporters from countries like China and India face reduced market access to the EU, prompting a shift to alternative markets or reformulation of products.
A new phase of the US-China trade agreement reduced tariffs on agricultural chemicals, including fungicides, to facilitate trade amid rising global food demand.
January 2023
Increased export opportunities for US fungicide manufacturers to China, potentially shifting trade dynamics in the Asia-Pacific region.
Major agrochemical companies like BASF and Syngenta launched new modified aromatic fungicides with lower environmental impact, gaining traction in regulated markets.
June 2022
These innovations are likely to set new industry standards, influencing trade patterns as countries adopt safer chemical alternatives.