HS Code:
The category covered under Harmonized System (HS) subheadings 0402.29.50, 0402.99.90, 0403.20.50, 0403.90.95, 1901.10.26, 1901.10.85, and 2202.99.28 pertains to dairy products and related food preparations. This includes milk and cream (concentrated or sweetened), other dairy products like yogurt and buttermilk, infant food preparations based on milk, and certain non-alcoholic beverages containing milk. These products are critical in global food supply chains, often subject to stringent health and safety regulations, and play a significant role in agricultural trade.
Total Trade Volume
Approximately $25 billion USD
Data from 2022
Source
United Nations Comtrade Database and World Trade Organization (WTO) Statistics
$7.5 billion USD
30% of total trade of total trade
Increasing
$4.2 billion USD
16.8% of total trade of total trade
Stable
$3.8 billion USD
15.2% of total trade of total trade
Increasing
$2.9 billion USD
11.6% of total trade of total trade
Stable
$2.1 billion USD
8.4% of total trade of total trade
Decreasing
Average Rate
15.3% ad valorem
Highest Rate
35% (applied by certain developing countries for protective measures)
Lowest Rate
0% (under free trade agreements like EU-NZ FTA)
Rising demand for organic and lactose-free dairy products
Increased exports from countries with strong organic certification systems like New Zealand and the EU, pushing trade value growth by 5-7% annually
2021-2022
Growth in plant-based milk alternatives impacting traditional dairy trade
Reduction in demand for certain dairy categories in developed markets, with a shift of approximately 3% of market share to alternatives
2020-2022
Expansion of e-commerce for dairy and infant food products
Facilitated direct-to-consumer exports, particularly in Asia-Pacific markets, boosting trade volume by 10% in key regions
2022
The agreement, finalized in mid-2022, reduces tariffs on dairy products, providing New Zealand exporters better access to the EU market.
July 2022
Expected to increase New Zealand’s dairy exports to the EU by 20% over the next five years.
Adjustments under the US-Mexico-Canada Agreement have increased market access for U.S. dairy products into Canada, easing previous restrictions.
January 2023
U.S. dairy exports to Canada projected to grow by $150 million annually.
China’s growing middle class and demand for high-quality dairy and infant formula have led to a surge in imports from Oceania and Europe.
Throughout 2022
Trade volume to China increased by 12%, making it a key market for exporters.