HS Code:
This category, valued between $2.40/kg and less than $2.70/kg, typically includes specific agricultural or processed food products under the Harmonized System (HS) Code classification. While the exact HS code is not provided, this price range often pertains to commodities like certain types of meat, dairy products, or specialty crops that fall within mid-tier pricing due to quality, origin, or processing standards. These products are traded globally with significant variations in tariffs and trade volumes based on regional demand, production capabilities, and trade agreements.
Total Trade Volume
Approximately $1.2 billion USD
Data from 2022
Source
United Nations Comtrade Database
$350 million USD
29.2% of total trade of total trade
Increasing
$280 million USD
23.3% of total trade of total trade
Increasing
$150 million USD
12.5% of total trade of total trade
Stable
$120 million USD
10.0% of total trade of total trade
Decreasing
$100 million USD
8.3% of total trade of total trade
Stable
Average Rate
8.5% ad valorem
Highest Rate
25% (imposed by certain developing countries for market protection)
Lowest Rate
0% (under free trade agreements like EU-USMCA)
Rising demand in Asia-Pacific for premium products
Increased exports from countries like the US and Brazil to meet demand in markets such as China and Japan
2021-2022
Shift toward sustainable and organic certifications
Producers in Europe and Australia are adapting to stricter environmental standards, affecting pricing and trade volumes
2020-2022
Supply chain disruptions due to geopolitical tensions
Trade routes and volumes have been affected, leading to price volatility and shifts in market shares
2022
The European Union introduced a revised tariff quota system for products in this value range to protect domestic producers while maintaining trade balance.
June 2023
Expected to reduce imports from non-EU countries by 5-10% in the short term.
A bilateral agreement between the US and Brazil lowered tariffs on specific agricultural products in this category to boost trade.
March 2023
Likely to increase trade volume between the two countries by 15% over the next two years.
Several Asian countries, including Japan and South Korea, have reduced sanitary barriers for imports in this category to address domestic shortages.
September 2023
Opens new market opportunities for exporters, potentially increasing global trade volume by $50 million USD annually.