HS Code:
This category, valued between 7.75¢/kg and less than 12.4¢/kg, typically includes specific agricultural or processed food products under the Harmonized System (HS) Code classification. These products are often subject to varying tariff rates depending on country-specific trade agreements, quality standards, and market demand. The category may include items such as certain types of grains, seeds, or other bulk commodities traded internationally at this price range. Trade in this category is influenced by seasonal fluctuations, geopolitical factors, and global supply chain dynamics.
Total Trade Volume
USD 1.2 billion
Data from 2022
Source
United Nations Comtrade Database
Average Rate
5.2%
Highest Rate
15% (applied by certain developing nations)
Lowest Rate
0% (under free trade agreements like USMCA)
Rising demand in Asia-Pacific for bulk agricultural commodities
Increased export opportunities for major producers like the US and Brazil
2022
Climate change affecting crop yields
Potential supply shortages leading to price volatility in this price bracket
2021-2022
Shift toward sustainable farming practices
Higher production costs may push some products out of this price range
2020-2022
A recent trade pact between Brazil and Argentina has reduced tariffs on commodities in this category, boosting trade volumes.
March 2023
Expected increase in trade volume by 10% over the next year
Due to domestic supply concerns, the US has introduced temporary export restrictions on certain products in this price range.
June 2023
Potential short-term decrease in US export share, benefiting competitors like Canada
The European Union has implemented stricter quality controls for imports in this category, affecting exporters from developing nations.
January 2023
Increased compliance costs for exporters targeting the EU market