HS Code:
The category valued at $1.45/kg or more but less than $1.65/kg typically includes specific agricultural or processed food products under a particular Harmonized System (HS) Code. This price range often corresponds to mid-tier commodities or goods with moderate value addition, such as certain types of grains, processed fruits, or other bulk food items. These products are traded globally with varying degrees of tariff protection and market access restrictions depending on regional trade agreements and domestic agricultural policies. The trade of these goods is influenced by factors like seasonal production, currency fluctuations, and geopolitical events impacting supply chains.
Total Trade Volume
Approximately $2.3 billion USD
Data from 2022
Source
United Nations Comtrade Database / World Trade Organization Statistics
$650 million USD
28.3% of total trade of total trade
Increasing
$480 million USD
20.9% of total trade of total trade
Stable
$320 million USD
13.9% of total trade of total trade
Increasing
$250 million USD
10.9% of total trade of total trade
Decreasing
$200 million USD
8.7% of total trade of total trade
Stable
Average Rate
8.5% ad valorem
Highest Rate
25% (imposed by certain developing economies for agricultural protection)
Lowest Rate
0% (under free trade agreements such as USMCA or EU Single Market)
Shift towards sustainable sourcing
Increased demand for certified organic or sustainably produced goods in this price category, pushing exporters to adopt eco-friendly practices. This has led to a 12% rise in trade volume for certified products.
2021-2022
Rising input costs
Higher costs of fertilizers and transportation have squeezed profit margins for exporters, leading to a 5% price increase in this category, affecting trade competitiveness in price-sensitive markets.
2022
Regional trade bloc influence
Strengthening of regional trade agreements like ASEAN and RCEP has facilitated a 15% growth in intra-regional trade for these products, reducing dependency on traditional markets like the EU and US.
2020-2022
The European Union introduced stricter SPS requirements for agricultural imports in this price category, focusing on pesticide residue limits and traceability standards.
June 2023
This has led to a temporary 8% decline in exports from non-compliant countries, while benefiting exporters with established certification systems.
Negotiations between the US and Brazil resulted in reduced tariffs for this product category under a bilateral quota system, boosting market access.
March 2023
Trade volume between the two countries increased by 10%, strengthening Brazil's position as a key supplier to the US market.
Severe droughts in key exporting regions like Australia and parts of India have reduced output for products in this category, leading to supply chain disruptions.
August 2023
Global prices rose by 7%, and trade volume dropped by 4% as importers sought alternative suppliers.