HS Code:
Other lima beans (HS Code: 071339) refer to varieties of lima beans (Phaseolus lunatus) that are not classified under specific subcategories. These beans are a staple in many diets globally, particularly in Latin America, Africa, and parts of Asia. They are valued for their high protein and fiber content, making them a key agricultural commodity in food security and nutrition programs. Global trade in other lima beans is influenced by factors such as climatic conditions, agricultural policies, and demand for plant-based protein sources.
Total Trade Volume
Approximately 250,000 metric tons
Data from 2022
Source
United Nations Comtrade Database
80,000 metric tons
32% of total trade of total trade
Increasing
50,000 metric tons
20% of total trade of total trade
Stable
30,000 metric tons
12% of total trade of total trade
Increasing
25,000 metric tons
10% of total trade of total trade
Stable
15,000 metric tons
6% of total trade of total trade
Decreasing
Average Rate
5.2% ad valorem
Highest Rate
15% (imposed by certain Asian countries)
Lowest Rate
0% (under free trade agreements like USMCA)
Rising demand for plant-based proteins
Increased export opportunities for producing countries as consumers shift towards sustainable diets
2021-2022
Climate change affecting production
Erratic weather patterns have led to reduced yields in key regions, causing price volatility
2020-2022
Growth in organic lima bean market
Higher premiums for organic certification are encouraging farmers to adopt organic farming practices
2019-2022
Peru and Mexico signed a new trade agreement reducing tariffs on agricultural products, including lima beans, to boost bilateral trade.
March 2023
Expected to increase trade volume between the two countries by 15% over the next two years.
The European Union updated its phytosanitary requirements for imported legumes, imposing stricter checks for pests on lima beans.
January 2023
May cause delays in exports to EU markets and increase compliance costs for exporters.
The United States announced subsidies for domestic legume farmers to reduce reliance on imports and strengthen food security.
June 2022
Could lead to a slight decrease in import demand, affecting major exporters like Peru.