The HS Code 10062040 refers to husked (brown) rice, other than Basmati. This code is used to classify and identify this specific product for international trade purposes. In this article, we will explore the details of this HS code, including its product description, duty rates, quantity unit, and special tariff preference programs.
Husked (brown) rice, other than Basmati, falls under the HS Code 10062040. This means that it includes all varieties of husked rice that are not of the Basmati type. Brown rice retains its bran and germ layers, giving it a nutty flavor and higher nutritional value compared to white rice. It is widely consumed and traded globally due to its health benefits and versatility in various cuisines.
The bound / MFN duty rate for HS Code 10062040 is 2.1 cents/kg. The bound duty rate represents the maximum rate that can be applied to imports of a specific product. This rate ensures that countries do not discriminate against any trading partner and treat all imports equally. Therefore, whenever a country lowers a trade barrier or opens up a market, it must do so for the same goods or services from all its trading partners.
The quantity unit for HS Code 10062040 is kilograms (KG). This means that the product is measured and traded based on its weight in kilograms. This unit of measurement allows for standardized trade transactions and accurate calculations of import and export quantities.
HS Code 10062040 is eligible for several special tariff preference programs. These programs provide specific trade benefits, including duty-free treatment, to certain countries or regions. The following are the special tariff preference programs applicable to this HS code:
These special tariff preference programs aim to promote trade and economic development by providing preferential treatment to certain countries or regions. Importers and exporters of husked (brown) rice, other than Basmati, can take advantage of these programs to reduce or eliminate the duty costs associated with their trade transactions.
HS Code 10062040 allows for the import and export of husked (brown) rice, other than Basmati, between different US states. Importing US states can source this product from exporting US states to meet domestic demand or for further international trade.
Overall, HS Code 10062040 plays a crucial role in facilitating the global trade of husked (brown) rice, other than Basmati. Its classification, duty rates, quantity unit, and special tariff preference programs provide a framework for transparent and standardized trade transactions. Importers, exporters, and traders can utilize this HS code to ensure proper classification and take advantage of applicable trade benefits.