HS Code:
The category valued at 56.4¢/kg or more but less than 84.6¢/kg (specific HS Code not provided) typically includes certain agricultural or processed food products, such as specific cuts of meat, dairy products, or specialty crops, where pricing per kilogram falls within this range. This price bracket often indicates mid-range quality or semi-processed goods that are traded globally with varying tariff structures depending on country-specific trade agreements and market demand. These products are significant in international trade due to their balance of affordability and quality, appealing to a wide range of markets from developing to developed economies.
Total Trade Volume
USD 12.5 billion
Data from 2022
Source
United Nations Comtrade Database
Average Rate
8.5%
Highest Rate
15% (applied by certain Asian markets for protective measures)
Lowest Rate
2% (under free trade agreements like EU-USMCA)
Rising demand in Asia-Pacific for mid-range priced agricultural goods
Increased export opportunities for countries like Brazil and Australia, with a projected growth of 5% annually
2022
Shift towards sustainable and traceable supply chains
Exporters adopting certification programs to meet consumer and regulatory demands, increasing costs by 3-5% but improving market access
2021-2022
Fluctuating commodity prices due to geopolitical tensions
Price volatility affecting trade volumes, with a notable 7% drop in trade during Q2 2022 in conflict-affected regions
2022
A new trade pact signed in mid-2022 reduces tariffs on mid-range agricultural goods, including products in this price category, by an average of 4%.
June 2022
Expected to boost US exports by USD 500 million annually to ASEAN markets.
The European Union introduced updated sanitary and phytosanitary regulations targeting meat and dairy imports to ensure higher safety standards.
January 2023
Non-compliant exporters face a potential 10% reduction in market access, necessitating upgrades in processing standards.
Brazil announced investments in agricultural infrastructure to increase output of mid-range priced goods, aiming to capture a larger share of the Asian market.
March 2023
Projected to increase Brazil’s trade volume by 8% in this category over the next two years.