HS Code:
The 'Other (fully refined, washed, bleached or deodorized)' category under the Harmonized System (HS) Code typically refers to a subgroup of products such as edible oils or waxes that have undergone specific processes like refining, washing, bleaching, or deodorizing to meet quality standards for consumption or industrial use. This category often includes products like palm oil, soybean oil, or other vegetable oils that are not specified under more specific HS codes. These products are critical in food processing, cosmetics, and industrial applications, making them a significant segment of global agricultural trade.
Total Trade Volume
Approximately $25 billion USD
Data from 2022
Source
United Nations Comtrade Database, World Trade Organization (WTO) Reports
$8.5 billion USD
34% of total trade of total trade
Increasing
$6.2 billion USD
25% of total trade of total trade
Stable
$2.1 billion USD
8.4% of total trade of total trade
Increasing
$1.8 billion USD
7.2% of total trade of total trade
Increasing
$1.5 billion USD
6% of total trade of total trade
Stable
Average Rate
5.2% ad valorem
Highest Rate
25% (imposed by certain developing countries for market protection)
Lowest Rate
0% (under free trade agreements like EU-ASEAN or USMCA)
Rising demand for sustainable and certified products
Increased production costs for exporters but higher market access in regions like the EU with strict sustainability regulations
2021-2023
Shift toward alternative oils due to health concerns
Reduced demand for certain traditional refined oils like palm oil in favor of healthier options like avocado or olive oil
2020-2022
Growth in industrial applications
Increased use of refined oils in biofuel and cosmetics industries, driving trade volumes in non-food sectors
2019-2023
The European Union introduced regulations in 2023 requiring proof of deforestation-free supply chains for palm oil and other refined products, affecting major exporters like Indonesia and Malaysia.
June 2023
Potential reduction in EU market access for non-compliant exporters, pushing for rapid adoption of sustainability practices.
Indonesia revised its export levy structure for refined palm oil products to boost domestic processing and export competitiveness.
March 2022
Increased export volumes from Indonesia, intensifying competition with Malaysia.
As part of ongoing trade negotiations, reduced tariffs on refined edible oils were agreed upon, benefiting US exporters targeting the Chinese market.
January 2023
Moderate increase in US exports to China, diversifying supply chains for Chinese importers.