HS Code:
The category 'Valued $2.70/kg or more but less than $2.90/kg' typically falls under specific HS Codes related to commodities such as agricultural products, food items, or raw materials (exact HS Code not provided in the query). This price range often includes mid-tier products in terms of quality or processing level, such as certain types of meat, fish, or processed agricultural goods. Trade in this category is influenced by factors like regional production capacities, seasonal variations, and international demand for affordable yet quality goods.
Total Trade Volume
Approximately $1.2 billion USD
Data from 2022
Source
United Nations Comtrade Database / World Trade Organization Statistics
$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
6.5% ad valorem
Highest Rate
15% (imposed by certain developing countries to protect local industries)
Lowest Rate
0% (under free trade agreements such as EU-USMCA)
Rising demand in emerging markets
Increased export opportunities for producing countries, particularly in Asia and Africa, driving trade volume growth by 8% annually
2021-2022
Shift towards sustainable sourcing
Buyers are prioritizing environmentally certified products, impacting supplier selection and potentially increasing costs by 5-10%
2022
Fluctuations in global commodity prices
Price volatility due to geopolitical tensions and climate change has led to a 12% price variation in this category over the past year
2022
The European Union revised tariffs on agricultural imports in this price range to balance local farmer protection with consumer price stability.
June 2023
Potential reduction in export volumes to the EU by 5-7% for non-FTA countries.
Negotiations concluded to reduce tariffs on mid-tier agricultural goods, benefiting exporters in this price category.
March 2023
Expected increase in bilateral trade volume by 10% over the next two years.
Severe weather events in key producing regions like Australia have led to reduced output, affecting global supply chains.
January 2023
Supply shortages may drive prices up by 3-5% in the short term.