US-Lithuania Trade Agreement Boosts Specialty Fats and Oils Sector
A new bilateral trade agreement between the United States and Lithuania has reduced tariffs on specialty fats and oils under HS Code 1518, facilitating increased exports of chemically modified fats from the US to Lithuania.
2023-10-15
Impact: This agreement is expected to increase US exports of inedible mixtures and chemically modified fats to Lithuania by 15% over the next year, strengthening market access for US producers.
Lithuanian Demand for US-Processed Vegetable Oils Rises
Lithuanian industrial sectors have shown growing interest in US-processed vegetable oils and their fractions (HS Code 1518), driven by demand for sustainable and chemically modified products for manufacturing.
2023-09-22
Impact: This rising demand could lead to a 10% growth in US exports to Lithuania in this category, though supply chain constraints in the US may pose challenges.
US Importers Face Delays in Lithuanian Fat and Oil Shipments
Logistical bottlenecks at Baltic ports have delayed shipments of inedible fat and oil mixtures (HS Code 1518) from Lithuania to the US, affecting industrial users reliant on these materials.
2023-08-30
Impact: Delays may temporarily reduce Lithuanian exports to the US by 5-8%, prompting US buyers to seek alternative suppliers or adjust production timelines.
