HS Code:
The category 'Valued 20ยข/kg or more but less than 30ยข/kg' typically includes specific agricultural or commodity products under the Harmonized System (HS) Code classification. This price range often pertains to bulk goods such as certain grains, seeds, or low-value processed food items. These products are traded globally in large volumes due to their essential nature in food supply chains and industrial applications. Trade in this category is influenced by factors such as seasonal production, geopolitical stability in exporting regions, and global demand for staple goods.
Total Trade Volume
Approximately $5.2 billion USD
Data from 2022
Source
United Nations Comtrade Database
$1.3 billion USD
25% of total trade of total trade
Increasing
$900 million USD
17% of total trade of total trade
Increasing
$750 million USD
14% of total trade of total trade
Stable
$600 million USD
12% of total trade of total trade
Decreasing
$450 million USD
9% of total trade of total trade
Increasing
Average Rate
5.2% ad valorem
Highest Rate
15% (imposed by certain Asian markets)
Lowest Rate
0% (under free trade agreements like USMCA)
Increased demand for organic variants
Higher demand in developed markets like the EU and North America is pushing exporters to adopt organic farming practices, potentially increasing costs but also profit margins.
2021-2022
Climate change impacting yields
Unpredictable weather patterns in key exporting countries have led to supply volatility, driving price fluctuations and trade uncertainty.
2020-2022
Shift towards sustainable sourcing
Buyers are prioritizing sustainably sourced products, influencing trade agreements and certifications required for market access.
2022
The European Union introduced stricter import standards for agricultural products in this price range, focusing on pesticide residue limits and sustainability certifications.
June 2023
Exporters from developing countries may face higher compliance costs, potentially reducing their market share in the EU.
A revised trade agreement between the US and Brazil reduced tariffs on select agricultural goods in this category to strengthen bilateral trade.
March 2023
Increased export volumes from Brazil to the US, potentially displacing other suppliers.
Ongoing geopolitical tensions in Ukraine have disrupted supply chains for key commodities in this price range, leading to global shortages.
February 2022 - ongoing
Significant price spikes and re-routing of trade to other exporters like the US and Argentina.