HS Code:
The category of products valued between $1.70/kg and less than $2.00/kg (specific HS Code to be determined based on product type) typically includes a range of agricultural or processed goods, such as certain grains, processed foods, or industrial raw materials. This price range often reflects mid-tier commodities that are subject to varying levels of demand based on regional production capabilities, quality standards, and market accessibility. Trade in this category is influenced by factors such as seasonal production, global supply chain dynamics, and trade agreements.
Total Trade Volume
Approximately $12.5 billion USD
Data from 2022
Source
United Nations Comtrade Database
$3.2 billion USD
25.6% of total trade of total trade
Increasing
$2.8 billion USD
22.4% of total trade of total trade
Increasing
$1.9 billion USD
15.2% of total trade of total trade
Stable
$1.5 billion USD
12.0% of total trade of total trade
Increasing
$1.1 billion USD
8.8% of total trade of total trade
Decreasing
Average Rate
6.5% ad valorem
Highest Rate
15% (imposed by certain developing economies)
Lowest Rate
0% (under free trade agreements like EU-USMCA)
Rising demand in Asia-Pacific
Increased export opportunities for producing countries, particularly in South Asia and Southeast Asia, due to population growth and changing dietary preferences.
2021-2022
Sustainability focus
Growing preference for sustainably sourced products is pushing exporters to adopt eco-friendly practices, impacting production costs and pricing structures.
2020-2022
Supply chain disruptions
Global logistics challenges, including port congestion and container shortages, have led to delays and increased costs, affecting trade volumes temporarily.
2021-2022
A bilateral trade agreement between Brazil and Argentina has reduced tariffs on products in this value range, boosting regional trade.
March 2023
Expected to increase trade volume by 10% in the region over the next two years.
The European Union introduced stricter quality control measures for imported goods in this category, requiring additional certifications.
January 2023
May increase compliance costs for exporters but ensures higher product safety standards.
The United States announced a temporary tariff waiver for specific commodities in this price range to combat domestic shortages.
June 2022
Led to a 15% surge in imports from key partners like Brazil and Australia in Q3 2022.