HS Code:
The Harmonized System (HS) subheadings 0402.91.70, 0402.91.90, 0402.99.45, and 0402.99.55 pertain to milk and cream, not concentrated nor containing added sugar or other sweetening matter, as well as other milk and cream products that are concentrated or sweetened. Specifically, these subheadings cover products like unsweetened condensed milk (0402.91.70 and 0402.91.90) and sweetened condensed or evaporated milk (0402.99.45 and 0402.99.55). These products are widely used in food processing, confectionery, and direct consumption, making them significant in global dairy trade.
Total Trade Volume
Approximately $3.2 billion USD
Data from 2022
Source
United Nations Comtrade Database and International Trade Centre (ITC)
$650 million USD
20.3% of total trade of total trade
Increasing
$480 million USD
15.0% of total trade of total trade
Stable
$400 million USD
12.5% of total trade of total trade
Increasing
$320 million USD
10.0% of total trade of total trade
Stable
$250 million USD
7.8% of total trade of total trade
Increasing
Average Rate
5.2% ad valorem
Highest Rate
25% (applied by certain developing countries to protect local dairy industries)
Lowest Rate
0% (under free trade agreements such as EU-USMCA or ASEAN)
Rising demand for processed dairy in Asia-Pacific
Increased exports from major producers like the Netherlands and the US to countries like China and Indonesia due to growing middle-class consumption and urbanization.
2021-2022
Shift towards sustainable and organic dairy products
Exporters are adapting to consumer preferences for eco-friendly and organic condensed milk products, leading to higher certification costs but also premium pricing.
2020-2022
Impact of supply chain disruptions
Global shipping delays and rising freight costs have affected the timely delivery of dairy products, leading to price volatility in importing countries.
2021-2022
Following Brexit, EU countries like the Netherlands and France have increased their condensed milk exports to non-EU markets, filling gaps left by UK exporters.
January 2023
Strengthened EU market share in Asia and Africa, with a projected 5% increase in export volume for 2023.
Under the United States-Mexico-Canada Agreement (USMCA), tariffs on certain dairy products, including condensed milk, have been reduced, boosting trade among member countries.
July 2022
Increased US exports to Mexico by 8% in 2022, fostering closer North American dairy market integration.
China revised its dairy import quotas in response to domestic production shortfalls, increasing access for foreign condensed milk suppliers.
March 2023
Expected to drive a 10% rise in imports from major exporters like Malaysia and the Netherlands in 2023.