HS Code:
Extracted oleoresins (HS Code: 3301) encompass concentrated extracts derived from spices, herbs, and other natural materials, used primarily in food, beverage, pharmaceutical, and cosmetic industries for flavoring, coloring, and medicinal properties. These include oleoresins of pepper, turmeric, ginger, and other spices, which are valued for their consistency and potency compared to raw materials. The global trade of oleoresins is driven by demand for natural ingredients and clean-label products in developed markets, as well as the availability of raw materials in tropical and subtropical regions.
Total Trade Volume
USD 1.2 billion
Data from 2022
Source
International Trade Centre (ITC) Trade Map
USD 450 million
37.5% of total trade of total trade
Increasing
USD 200 million
16.7% of total trade of total trade
Stable
USD 150 million
12.5% of total trade of total trade
Increasing
USD 100 million
8.3% of total trade of total trade
Stable
USD 80 million
6.7% of total trade of total trade
Increasing
Average Rate
5.2% ad valorem
Highest Rate
12% (applied by certain developing countries to protect domestic industries)
Lowest Rate
0% (under free trade agreements such as EU-India FTA for specific categories)
Rising demand for natural and organic ingredients
Increased exports from countries like India and Indonesia, with a focus on organic-certified oleoresins, boosting trade by approximately 8% annually.
2021-2022
Growth in plant-based and functional foods
Higher demand for oleoresins like turmeric (curcumin) for health benefits, driving market expansion in North America and Europe by 10% year-over-year.
2022
Technological advancements in extraction processes
Improved yield and quality of oleoresins, reducing production costs and making products more competitive, especially for smaller exporters.
2020-2022
The European Union introduced stricter Maximum Residue Levels (MRLs) for oleoresins, requiring exporters to comply with lower pesticide thresholds.
January 2023
Potential short-term trade disruptions for non-compliant exporters, particularly from developing countries, but long-term benefits for quality assurance.
A bilateral agreement reduced tariffs on Indian oleoresins entering the US market, facilitating easier access for Indian exporters.
March 2022
Boosted Indian exports to the US by 15% in 2022, strengthening India's position as the leading supplier.
Major producers in India and Indonesia adopted sustainable farming and extraction practices to meet global demand for eco-friendly products.
June 2022
Enhanced market appeal in environmentally conscious regions like Europe, with a projected 5% increase in demand for certified sustainable oleoresins.