HS Code:
The category 'Valued 95¢/kg or more but less than $1.15/kg' typically includes specific agricultural or processed food products under the Harmonized System (HS) code framework. This price range often pertains to commodities like certain types of grains, seeds, or low-to-mid value processed goods that are traded in bulk. The exact HS code is not specified, but this price bracket generally reflects products with moderate market value, subject to varying tariff structures depending on country-specific trade policies and agreements. These goods are often essential in global food supply chains, balancing affordability and quality.
Total Trade Volume
Approximately $12.5 billion USD
Data from 2022
Source
United Nations Comtrade Database
$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
$1.9 billion USD
15.2% of total trade of total trade
Stable
$1.5 billion USD
12.0% of total trade of total trade
Increasing
$1.1 billion USD
8.8% of total trade of total trade
Stable
Average Rate
5.2% ad valorem
Highest Rate
15% (applied by certain developing economies for market protection)
Lowest Rate
0% (under free trade agreements like USMCA or EU trade pacts)
Rising demand in developing economies
Increased exports from major agricultural producers like Brazil and the US due to population growth and food security needs in Asia and Africa.
2021-2022
Shift towards sustainable sourcing
Buyers are prioritizing environmentally friendly production methods, influencing exporters to adopt sustainable farming practices.
2020-2022
Fluctuating commodity prices
Global supply chain disruptions and geopolitical tensions have led to price volatility, affecting trade volumes and contract stability.
2022
Under the updated United States-Mexico-Canada Agreement, tariffs for certain agricultural products in this price range were reduced to 0% for member countries, boosting trade flows.
January 2023
Increased market access for Canadian and US exporters to Mexico, potentially shifting trade patterns in North America.
The European Union expanded import quotas for agricultural goods in this category from Latin American countries as part of trade negotiations.
March 2023
Expected to increase trade volume from Brazil and Argentina by 10-15% over the next two years.
Severe weather events in key exporting regions like Australia have led to reduced yields, impacting global supply and driving up prices.
July 2023
Short-term supply shortages and higher costs for importers, with potential long-term shifts towards alternative suppliers.