HS Code:
This category, valued at $1.05/kg or more but less than $1.25/kg, typically includes specific agricultural or processed food products under the Harmonized System (HS) Code classification. These products often encompass commodities like certain types of grains, seeds, or processed food items that fall within this narrow price range. The classification is used to monitor and regulate the international trade of goods with specific value thresholds, ensuring compliance with tariff schedules and trade agreements. Due to the value-based nature of this category, it is subject to fluctuating market demands, currency exchange rates, and regional production capacities.
Total Trade Volume
Approximately $2.3 billion USD
Data from 2022
Source
United Nations Comtrade Database
$650 million USD
28.3% of total trade of total trade
Increasing
$480 million USD
20.9% of total trade of total trade
Increasing
$320 million USD
13.9% of total trade of total trade
Stable
$210 million USD
9.1% of total trade of total trade
Increasing
$150 million USD
6.5% of total trade of total trade
Stable
Average Rate
5.2% ad valorem
Highest Rate
12% (imposed by certain developing economies for market protection)
Lowest Rate
0% (under free trade agreements like NAFTA or EU Single Market)
Rising demand for value-added agricultural products
Increased exports from countries with advanced processing capabilities, such as the United States and Germany, driving up trade volumes.
2021-2022
Currency fluctuations impacting price categorization
Products oscillating between value categories ($1.05-$1.25/kg) due to exchange rate volatility, affecting trade reporting and tariff applications.
2020-2022
Shift towards sustainable sourcing
Growing preference for sustainably produced goods in this price bracket, influencing trade patterns towards certified exporters.
2022
A recent trade pact between Brazil and Argentina has reduced tariffs on agricultural products in this value range, boosting regional trade.
March 2023
Expected to increase Brazilโs export share by 5% in the next fiscal year.
The European Union introduced new sanitary and phytosanitary regulations targeting imports in this category to ensure food safety standards.
January 2023
Potential delays and increased compliance costs for exporters from developing countries.
Negotiations between the US and China have led to a temporary reduction in retaliatory tariffs on goods within this price range.
June 2023
Likely to stabilize trade volumes between the two nations, benefiting US exporters.