HS Code:
Natural cork, debacked or roughly squared, or in rectangular (including square) blocks, plates, sheets, or strip (including sharp-edged blanks for corks or stoppers) falls under HS Code 4502. This category includes processed natural cork materials used primarily in the production of bottle stoppers, insulation materials, and other industrial applications. Cork is derived from the bark of the cork oak tree (Quercus suber), predominantly grown in Mediterranean regions. This product category is critical for industries such as winemaking, construction, and manufacturing due to cork's unique properties like elasticity, impermeability, and thermal insulation.
Total Trade Volume
Approximately $1.2 billion USD
Data from 2022
Source
United Nations Comtrade Database
$650 million USD
54.2% of total trade of total trade
Increasing
$200 million USD
16.7% of total trade of total trade
Stable
$100 million USD
8.3% of total trade of total trade
Increasing
$80 million USD
6.7% of total trade of total trade
Stable
$50 million USD
4.2% of total trade of total trade
Increasing
Average Rate
3.5% ad valorem
Highest Rate
8% (applied by certain developing countries)
Lowest Rate
0% (under EU free trade agreements and specific WTO commitments)
Growing demand for sustainable packaging
Increased use of natural cork in wine and spirits industries as a biodegradable alternative to synthetic stoppers, boosting export volumes by 5-7% annually.
2021-2022
Rising competition from synthetic alternatives
Synthetic and plastic stoppers are gaining market share in lower-end wine segments, potentially reducing demand for natural cork by 3-4% in specific markets.
2020-2022
Technological advancements in cork processing
Improved debacking and quality control technologies have reduced waste and increased the efficiency of cork production, stabilizing prices and improving competitiveness.
2019-2022
The European Union introduced new regulations requiring sustainability certifications for all imported cork products to ensure environmentally friendly harvesting practices.
March 2023
This mandate may increase compliance costs for exporters but is expected to reinforce the EU market's preference for natural cork over synthetic alternatives.
Portugal launched a $50 million initiative to expand cork oak plantations, aiming to increase raw material supply and meet growing global demand.
June 2022
This development is expected to solidify Portugal's dominance in the global cork market and ensure long-term supply stability.
A new trade agreement reduced tariffs on Tunisian cork exports to the EU, enhancing market access for Tunisian producers.
January 2023
This agreement is likely to increase Tunisia's trade volume by 10-15% over the next few years, intensifying competition among Mediterranean exporters.