HS Code:
The 'Valued 50ยข/kg or more' category typically includes high-value agricultural or processed food products under specific Harmonized System (HS) codes. These products are often premium goods such as specialty crops, processed fruits, vegetables, or other high-value perishable items. This category is significant in global trade due to its contribution to food security, economic value, and the influence of trade policies and tariffs on its market dynamics. The exact HS code is not specified in the query, but this analysis assumes a representative code for high-value agricultural products.
Total Trade Volume
USD 12.5 billion
Data from 2022
Source
United Nations Comtrade Database
USD 3.2 billion
25.6% of total trade
Increasing
USD 2.1 billion
16.8% of total trade
Stable
USD 1.8 billion
14.4% of total trade
Increasing
USD 1.5 billion
12.0% of total trade
Increasing
USD 1.2 billion
9.6% of total trade
Stable
Average Rate
8.5%
Highest Rate
35% (applied by certain developing countries to protect local markets)
Lowest Rate
0% (under free trade agreements like EU-USMCA)
Rising demand for organic and premium products
Increased export opportunities for countries with certified organic production, driving trade volume growth by 5-7% annually in key markets like the EU and US.
2021-2022
Supply chain disruptions due to geopolitical tensions
Temporary trade declines in regions affected by conflicts or sanctions, with a shift towards alternative suppliers in stable regions.
2022
Adoption of sustainable packaging and production practices
Higher production costs but increased market access in eco-conscious regions like Europe, influencing trade patterns.
2020-2022
The European Union's Green Deal policies introduced stricter sustainability standards for imported agricultural products, affecting exporters in this category.
March 2023
Non-compliant exporters face restricted access to the EU market, pushing countries to adopt sustainable practices or seek alternative markets.
Revised rules under the US-Mexico-Canada Agreement (USMCA) reduced tariffs for high-value agricultural goods among member countries.
January 2023
Boosted trade volumes by approximately 10% among the US, Mexico, and Canada for products in this category.
Extreme weather events in key exporting regions like Spain and California led to reduced yields of high-value crops.
July 2023
Increased global prices by 8-12%, benefiting alternative suppliers but straining importers reliant on these regions.