HS Code:
The 'Valued $2.90/kg or more' category (specific HS Code not provided in query) typically refers to a high-value agricultural or food product segment, such as specialty fruits, premium meats, or processed food items. This category is characterized by products that command a higher price per kilogram due to quality, origin, or processing standards. It is a significant segment in global trade due to increasing demand for premium and organic products in developed markets.
Total Trade Volume
Approximately $15.3 billion USD
Data from 2022
Source
United Nations Comtrade Database
$3.8 billion USD
24.8% of total trade of total trade
Increasing
$2.5 billion USD
16.3% of total trade of total trade
Stable
$1.9 billion USD
12.4% of total trade of total trade
Increasing
$1.5 billion USD
9.8% of total trade of total trade
Stable
$1.2 billion USD
7.8% of total trade of total trade
Increasing
Average Rate
8.5% ad valorem
Highest Rate
25% (applied by certain developing countries to protect local industries)
Lowest Rate
0% (under free trade agreements like EU-USMCA)
Rising demand for organic and sustainably sourced products
Increased trade volume for certified high-value products, particularly in North America and Europe
2021-2022
Growth in e-commerce platforms for premium food products
Expanded market access for exporters, especially smaller producers targeting niche markets
2020-2022
Supply chain disruptions due to geopolitical tensions
Temporary trade volume declines and price volatility in key markets
2022
The European Union introduced stricter sanitary and phytosanitary regulations for high-value food imports to ensure consumer safety and environmental standards.
March 2023
Increased compliance costs for exporters but improved market trust in EU countries
A new phase of the US-China trade agreement reduced tariffs on certain high-value agricultural products, boosting exports from the US.
January 2023
Positive for US exporters with an estimated $500 million increase in trade volume
Severe weather events in key exporting countries like Spain and Italy have reduced yields of high-value crops, impacting global supply.
July 2023
Potential price increases and supply shortages in the short term