HS Code:
The category valued at $2.65/kg or more but less than $2.75/kg falls under a specific Harmonized System (HS) Code that typically pertains to agricultural or processed food products, such as certain types of meat, dairy, or specialty crops. This price range indicates a mid-tier valuation often associated with semi-processed or value-added goods in global trade. Products in this category are traded extensively across developed and developing markets, driven by demand for quality and affordability. Trade in this category is influenced by seasonal production, regional trade agreements, and tariff structures.
Total Trade Volume
Approximately $1.2 billion USD
Data from 2022
Source
United Nations Comtrade Database & World Trade Organization (WTO) Statistics
$320 million USD
26.7% of total trade of total trade
Increasing
$250 million USD
20.8% of total trade of total trade
Stable
$180 million USD
15.0% of total trade of total trade
Increasing
$150 million USD
12.5% of total trade of total trade
Stable
$100 million USD
8.3% of total trade of total trade
Decreasing
Average Rate
8.5% ad valorem
Highest Rate
15% (imposed by certain Asian markets)
Lowest Rate
2% (under specific Free Trade Agreements like EU-USMCA)
Rising demand for sustainably sourced products
Increased trade from countries with strong environmental regulations, pushing exporters to adopt sustainable practices
2021-2022
Shift towards regional trade agreements
Reduced tariffs and barriers within blocs like the EU and ASEAN, boosting intra-regional trade volumes
2020-2022
Impact of global supply chain disruptions
Delays and higher logistics costs have led to temporary declines in trade volumes, particularly for perishable goods
2021-2022
The European Union announced a reduction in tariffs for products in this price category under the EU-Mercosur trade agreement, aiming to boost imports from South American countries.
June 2023
Expected to increase trade volume from Brazil and Argentina by 10-15% over the next two years.
Ongoing trade disputes have led to retaliatory tariffs on US exports in this category to China, diverting trade flows to alternative markets like Southeast Asia.
March 2023
Potential reduction in US market share in Asia, with benefits to competitors like Australia and Brazil.
Several importing countries have introduced mandatory sustainability certifications for agricultural products in this category to combat deforestation and promote ethical sourcing.
January 2023
Increased compliance costs for exporters, potentially affecting smaller producers disproportionately.