HS Code:
The category of products valued between $2.35/kg and less than $2.65/kg under the specified HS Code represents a niche segment of goods, often including specific agricultural or processed food products, industrial materials, or other commodities with moderate per-unit value. This price range typically indicates mid-tier products that balance quality and cost, often traded in bulk quantities. These products are subject to varying tariff structures depending on country-specific trade agreements, quality standards, and import/export regulations.
Total Trade Volume
USD 1.2 billion
Data from 2022
Source
United Nations Comtrade Database
USD 350 million
29.2% of total trade of total trade
Increasing
USD 280 million
23.3% of total trade of total trade
Stable
USD 200 million
16.7% of total trade of total trade
Increasing
USD 150 million
12.5% of total trade of total trade
Decreasing
USD 100 million
8.3% of total trade of total trade
Increasing
Average Rate
7.5% ad valorem
Highest Rate
15% (imposed by certain developing economies)
Lowest Rate
0% (under free trade agreements like EU-USMCA)
Rising demand for sustainable sourcing
Increased trade volume from countries with certified sustainable production, impacting pricing and supply chains.
2021-2022
Shift towards regional trade blocs
Reduced tariffs within trade blocs like ASEAN and EU, leading to a redirection of trade flows.
2020-2022
Impact of geopolitical tensions
Disruptions in supply chains due to sanctions and trade wars, affecting major exporters like China and Russia.
2022
The European Union introduced a revised tariff structure for this category, lowering rates for compliant sustainable products by 2%.
June 2023
Expected to boost imports from certified producers in developing countries by 10% over the next year.
A new phase of trade negotiations has resulted in temporary exemptions on tariffs for this product category between the US and China.
March 2023
Likely to stabilize trade volumes and reduce price volatility in the short term.
Brazil imposed temporary export restrictions due to domestic supply shortages, affecting global availability of products in this category.
September 2022
Caused a 5% increase in global prices and shifted demand to alternative suppliers like India.