HS Code:
The category 'Valued 93.6¢/kg or more but less than $1.404/kg' typically falls under specific Harmonized System (HS) codes related to agricultural or processed food products, such as certain types of meat, dairy, or specialty crops. This price range indicates a mid-tier valuation for bulk commodities, often subject to specific trade agreements, tariffs, and quality standards. Products in this category are traded globally with significant variation in tariffs and restrictions based on country-specific regulations and trade policies.
Total Trade Volume
Approximately $12.5 billion USD
Data from 2022
Source
United Nations Comtrade Database & World Trade Organization (WTO) Reports
$3.2 billion USD
25.6% of total trade of total trade
Increasing
$2.8 billion USD
22.4% of total trade of total trade
Increasing
$1.5 billion USD
12.0% of total trade of total trade
Stable
$1.3 billion USD
10.4% of total trade of total trade
Increasing
$1.0 billion USD
8.0% of total trade of total trade
Stable
Average Rate
8.5% ad valorem
Highest Rate
25% (imposed by certain developing economies for market protection)
Lowest Rate
0% (under free trade agreements such as USMCA or EU Single Market)
Rising demand for sustainably sourced products
Increased certification requirements and higher compliance costs for exporters, but also access to premium markets
2021-2022
Shift towards regional trade agreements
Reduction in tariffs within blocs like the EU and ASEAN, redirecting trade flows away from traditional global exporters
2020-2022
Impact of geopolitical tensions
Trade disruptions due to sanctions or retaliatory tariffs, particularly affecting major exporters like the US and Brazil
2022
The European Union introduced stricter import quotas for products in this valuation range to protect local farmers, impacting exporters from Latin America and North America.
June 2023
Potential reduction in trade volume to the EU by 10-15% for affected countries, prompting exporters to seek alternative markets in Asia.
Negotiations between the US and Brazil aim to reduce tariffs on mid-tier agricultural products, including those in this price category, to boost bilateral trade.
March 2023
If successful, this could increase trade volume by $500 million annually between the two countries, strengthening their dominance in this category.
Ongoing disruptions due to port congestion and shipping delays have affected the timely delivery of goods in this category, leading to price volatility.
January 2023
Temporary price increases of 5-8% in key markets, with potential long-term shifts towards localized sourcing.