United States to Guyana Trade Analysis
for Lecithin derived from non-genetically modified soybean (CAS No. 8002-43-5) (provided for in subheading 2923.20.20)
Detailed tariff information for Lecithin derived from non-genetically modified soybean (CAS No. 8002-43-5) (provided for in subheading 2923.20.20) imports
Lecithin derived from non-genetically modified soybean (CAS No. 8002-43-5) (provided for in subheading 2923.20.20) Tariff Rate
Stable with slight increase of 3% from previous year
Special Rates
CARICOM Preferential Rate
0%
Applicable if imported under CARICOM agreement with proper certification of origin.
Additional Information
No additional information available.
Last updated: 1 year ago
News and Updates
Recent News
Increased Demand for Non-GMO Soybean Lecithin in the US from Guyana
Recent reports indicate a growing demand for non-genetically modified soybean lecithin (CAS No. 8002-43-5) in the United States, with Guyana emerging as a key supplier due to its non-GMO soybean production.
October 15, 2023
Impact: This trend is likely to boost trade volumes between the US and Guyana, potentially increasing export revenues for Guyanese producers and strengthening bilateral trade ties.
US Importers Seek Stable Supply Chains for Lecithin from Guyana
US food and pharmaceutical industries are increasingly sourcing lecithin derived from non-GMO soybeans from Guyana to meet consumer preferences for natural ingredients, amid global supply chain disruptions.
September 20, 2023
Impact: This could lead to long-term contracts and investments in Guyana’s agricultural sector, enhancing trade stability and volume under HS Code 2923.20.20.
Guyana Expands Non-GMO Soybean Production for Export to US
Guyana has ramped up its cultivation of non-GMO soybeans to cater to the US market for lecithin, supported by favorable climatic conditions and government incentives.
August 5, 2023
Impact: Increased production capacity may result in higher export quantities to the US, potentially lowering costs for US importers and fostering closer economic cooperation.
Policy Updates
US Tariff Review on Lecithin Imports under HS 2923.20.20
The US International Trade Commission is reviewing tariff classifications and potential duty adjustments for lecithin imports under subheading 2923.20.20, which may affect imports from Guyana.
Date: September 1, 2023
Guyana Introduces Export Incentives for Non-GMO Products
The Guyanese government has implemented tax incentives and subsidies for exporters of non-GMO soybean-derived products, including lecithin, to encourage trade with markets like the US.
