HS Code:
Subheading 0401.50.25 under the Harmonized System (HS) Code pertains to 'Milk and cream, not concentrated nor containing added sugar or other sweetening matter, of a fat content, by weight, exceeding 10% but not exceeding 45%.' This category primarily includes fresh cream and other dairy products with specific fat content used in various food preparations and industries. It is a significant category in the global dairy trade, reflecting demand for high-fat dairy products in culinary and industrial applications.
Total Trade Volume
USD 2.5 billion
Data from 2022
Source
United Nations Comtrade Database and International Trade Centre (ITC)
USD 450 million
18% of total trade of total trade
Increasing
USD 400 million
16% of total trade of total trade
Stable
USD 350 million
14% of total trade of total trade
Increasing
USD 300 million
12% of total trade of total trade
Stable
USD 250 million
10% of total trade of total trade
Decreasing
Average Rate
15%
Highest Rate
35% (applied by certain developing countries to protect local dairy industries)
Lowest Rate
0% (under free trade agreements such as EU internal trade or USMCA)
Rising demand for high-fat dairy in processed foods
Increased exports from major dairy-producing countries to meet demand in Asia and the Middle East
2021-2022
Shift towards organic and sustainably sourced cream products
Higher premiums for certified organic products, influencing trade patterns towards countries with strong organic certification systems
2020-2022
Impact of climate change on dairy production
Reduced yields in traditional dairy regions due to extreme weather, shifting trade to alternative suppliers
2019-2022
The European Union adjusted export quotas for dairy products, including those under HS 0401.50.25, to balance domestic supply amidst rising global demand.
March 2023
Potential increase in prices for non-EU importers due to restricted supply
Under the United States-Mexico-Canada Agreement, tariffs on certain dairy products, including high-fat cream, were reduced, facilitating greater trade within North America.
January 2023
Boosted exports from the US to Canada and Mexico, strengthening regional trade ties
Severe drought conditions in New Zealand led to a decline in dairy production, affecting the export volumes of high-fat cream products.
February 2023
Reduced global supply from a key exporter, potentially increasing prices and shifting demand to other suppliers