HS Code:
The category 'Valued $1/kg or more but less than $1.20/kg' typically includes a range of products under specific HS Codes that are valued within this price bracket per kilogram. This category often encompasses agricultural products, processed foods, and certain raw materials that fall within this narrow price range. Due to the specific pricing, it reflects goods that are moderately priced in international markets, often subject to specific trade regulations and tariffs based on their origin and destination. The trade of such goods is influenced by global supply-demand dynamics, regional production capabilities, and trade agreements.
Total Trade Volume
Approximately $15 billion USD
Data from 2022
Source
United Nations Comtrade Database
$3.2 billion USD
21.3% of total trade of total trade
Increasing
$2.8 billion USD
18.7% of total trade of total trade
Increasing
$1.9 billion USD
12.7% of total trade of total trade
Stable
$1.5 billion USD
10.0% of total trade of total trade
Increasing
$1.1 billion USD
7.3% of total trade of total trade
Stable
Average Rate
6.5% ad valorem
Highest Rate
15% (imposed by certain protective markets like the EU on specific origins)
Lowest Rate
0% (under free trade agreements such as USMCA or ASEAN)
Rising demand for organic products within this price range
Increased exports from countries with strong organic certification systems, potentially raising trade volume by 5-7% annually
2021-2022
Shift towards sustainable sourcing
Countries with sustainable production practices are gaining market share, impacting trade routes and favoring exporters like Brazil and Australia
2020-2022
Impact of global inflation on pricing
Some products are moving out of this price bracket due to rising production costs, potentially reducing trade volume in this specific category
2022
The European Union introduced revised tariff schedules for agricultural products in this price range, increasing duties on non-preferred trading partners.
June 2023
Likely to reduce imports from non-EU countries by 3-5%, redirecting trade to intra-EU suppliers or countries with preferential agreements.
Negotiations between the US and Brazil aim to lower barriers for goods in this category, focusing on agricultural exports.
September 2023
Potential increase in trade volume by $500 million annually if finalized, benefiting Brazilian exporters.
India announced a phased reduction of export subsidies for certain products in this price range to comply with WTO regulations.
April 2023
May lead to a temporary dip in Indian exports, affecting global supply chains and increasing prices by 2-3% in the short term.