HS Code:
The category valued at 10.75ยข/kg or more but less than 17.2ยข/kg typically includes specific agricultural or processed food products under the Harmonized System (HS) Code classification. This value range often pertains to commodities like certain types of grains, seeds, or low-to-mid-range processed food items. These products are traded globally, with significant variations in pricing due to quality, origin, and market demand. Trade in this category is influenced by seasonal production, regional demand, and international trade agreements.
Total Trade Volume
Approximately $2.5 billion USD
Data from 2022
Source
United Nations Comtrade Database
$600 million USD
24% of total trade of total trade
Increasing
$450 million USD
18% of total trade of total trade
Increasing
$300 million USD
12% of total trade of total trade
Stable
$250 million USD
10% of total trade of total trade
Increasing
$200 million USD
8% of total trade of total trade
Stable
Average Rate
5.2% ad valorem
Highest Rate
15% (applied by certain developing nations)
Lowest Rate
0% (under free trade agreements like USMCA)
Rising demand for organic variants
Increased trade volume as consumers shift toward sustainable products, driving premiums in this value range.
2021-2022
Supply chain disruptions due to geopolitical tensions
Temporary shortages and price volatility in key exporting regions, affecting trade flows.
2022
Adoption of digital trade platforms
Enhanced transparency and efficiency in trade transactions, boosting small-scale exportersโ participation.
2020-2022
A recent trade pact between Brazil and Argentina has reduced tariffs on products in this value range, facilitating increased bilateral trade.
March 2023
Expected to boost trade volume by 10% in the region over the next two years.
The European Union introduced stricter sanitary and phytosanitary regulations for imports in this category to ensure food safety.
January 2023
Potential delays and increased compliance costs for exporters targeting the EU market.
The United States increased import quotas for specific agricultural products in this price range under a new policy to stabilize domestic prices.
June 2023
Likely to increase import volumes from key partners like Brazil and India.