HS Code:
The 'Valued $2.25/kg or more' category typically refers to high-value agricultural or processed food products under specific HS codes (e.g., certain types of meat, seafood, or specialty crops). These products are distinguished by their premium pricing due to quality, origin, or processing standards. This category is significant in global trade for its contribution to export revenues in countries with advanced agricultural sectors or unique geographical indications. Trade in this category is often influenced by stringent quality controls, certifications, and bilateral trade agreements.
Total Trade Volume
USD 15.7 billion
Data from 2022
Source
United Nations Comtrade Database
Average Rate
8.5%
Highest Rate
25% (imposed by certain Asian markets on premium meat products)
Lowest Rate
0% (under free trade agreements like EU-US TTIP provisions)
Rising demand for organic and sustainably sourced products
Increased market share for countries with strong organic certification systems, like the Netherlands and Germany
2021-2022
Growth in Asia-Pacific consumption
Higher exports to countries like China and Japan, driving up trade volumes for Australia and the US
2020-2022
Supply chain disruptions due to geopolitical tensions
Temporary declines in trade volumes for countries reliant on specific trade corridors, such as Brazil
2022
The EU and Australia finalized a trade agreement reducing tariffs on high-value agricultural products, including those in the $2.25/kg or more category, by up to 50% over the next five years.
June 2023
Expected to boost Australian exports to the EU by USD 500 million annually
The US secured commitments from China to increase imports of high-value agricultural goods, leading to a surge in exports of premium products under this category.
January 2023
Increased US trade volume by 15% in this category for the Asian market
A temporary ban on Brazilian meat exports was imposed by several countries following a reported disease outbreak, affecting high-value product shipments.
March 2023
Reduced Brazilian trade volume by 10% in 2023, with market share shifting to competitors like Australia