HS Code:
This category, valued between 38.4¢/kg and less than 57.6¢/kg, typically includes specific agricultural or processed food products under the Harmonized System (HS) Code classification. Products in this price range often encompass bulk commodities like certain grains, seeds, or low-to-mid value processed goods. These items are traded globally in significant volumes due to their essential nature in food supply chains and industrial applications. Trade patterns are influenced by seasonal production, regional demand, and international trade agreements.
Total Trade Volume
12.5 million metric tons
Data from 2022
Source
United Nations Comtrade Database & World Trade Organization (WTO) Reports
3.2 million metric tons
25.6% of total trade of total trade
Increasing
2.8 million metric tons
22.4% of total trade of total trade
Increasing
1.9 million metric tons
15.2% of total trade of total trade
Stable
1.5 million metric tons
12.0% of total trade of total trade
Decreasing
1.1 million metric tons
8.8% of total trade of total trade
Stable
Average Rate
5.2% ad valorem
Highest Rate
12.5% (applied by certain developing nations for market protection)
Lowest Rate
0% (under free trade agreements like USMCA and EU trade pacts)
Rising demand in Asia-Pacific for food security
Increased export opportunities for major producers like the US and Brazil, driving trade volume growth by 8% annually
2021-2022
Climate-related production disruptions
Reduced output in key regions like Ukraine due to geopolitical and weather challenges, causing a 5% drop in global supply
2022
Shift towards sustainable sourcing
Buyers prioritizing certified sustainable products, influencing exporters to adopt eco-friendly practices with a 3% premium on prices
2020-2022
A bilateral agreement between Brazil and Argentina reduced tariffs on this category by 50%, aiming to boost intra-regional trade.
March 2023
Expected to increase trade volume by 10% between the two countries, potentially affecting global market shares.
Ongoing conflicts in Eastern Europe have disrupted supply chains from Ukraine, a key exporter, leading to global price hikes.
February 2022 - Ongoing
Global prices increased by 7%, benefiting alternative suppliers like the US and Canada.
The European Union introduced new sanitary and phytosanitary regulations for imports in this category to ensure product safety.
January 2023
Non-compliant exporters face a potential 15% reduction in market access to the EU, pushing compliance costs up.