HS Code 12021040: Peanuts (ground-nuts), not roasted or cooked, in shell
Peanuts, also known as ground-nuts, are a popular and nutritious snack enjoyed by people all over the world. They are not only delicious but also packed with essential nutrients and health benefits. In this article, we will explore the HS Code 12021040, which specifically refers to peanuts that are not roasted or cooked and are still in their shell.
The Harmonized System (HS) is an internationally recognized system for classifying products in the global trade market. Each product is assigned a unique HS code, which helps facilitate trade by providing a standardized way of identifying goods. HS Code 12021040 is specifically used to classify peanuts that meet certain criteria.
According to the product description, peanuts falling under HS Code 12021040 must be in their shell and not roasted or cooked. This means that they are in their natural form and have not undergone any additional processing. The HS code also mentions that these peanuts are subject to additional US note 2 to Chapter 12, which may include specific regulations or requirements for importation.
When it comes to import and export, it is important to be aware of the duty rates associated with the HS Code. In the case of HS Code 12021040, the bound or Most Favored Nation (MFN) duty rate is 9.35 cents per kilogram (KG). This means that every time a country lowers a trade barrier or opens up a market, it has to do so for the same goods or services from all its trading partners. This duty rate applies to all countries unless they have special tariff preference programs in place.
The quantity unit for peanuts under HS Code 12021040 is kilograms (KG). This is the standard unit of measurement used for determining the quantity of peanuts being imported or exported.
One important aspect to consider is the availability of special tariff preference programs for peanuts falling under HS Code 12021040. These programs offer certain countries preferential treatment or reduced duties when importing or exporting specific goods. For peanuts, the following special tariff preference programs apply:
1. Generalized System of Preferences (GSP): This program offers duty-free treatment for peanuts imported from eligible countries.
2. NAFTA for Canada: Peanuts imported from Canada under HS Code 12021040 receive duty-free treatment.
3. Chile Special Rate: Peanuts imported from Chile under HS Code 12021040 receive a special rate of duty.
4. Africa Growth and Opportunity Act (AGOA): Peanuts imported from eligible African countries receive duty-free treatment under this program.
5. Caribbean Basin Initiative (CBI): Peanuts imported from eligible Caribbean countries receive duty-free treatment.
6. Israel Special Rate: Peanuts imported from Israel under HS Code 12021040 receive a special rate of duty.
7. Andean Trade Preference Act (ATPA): Peanuts imported from eligible Andean countries receive duty-free treatment under this program.
8. Jordan Special Rate: Peanuts imported from Jordan under HS Code 12021040 receive a special rate of duty.
9. Morocco Special Rate: Peanuts imported from Morocco under HS Code 12021040 receive a special rate of duty.
10. Oman Special Rate: Peanuts imported from Oman under HS Code 12021040 receive a special rate of duty.
11. Dominican Republic-Central American Special Rate (DR-CAFTA): Peanuts imported from eligible countries in the DR-CAFTA region receive a special rate of duty.
12. Peru Special Rate: Peanuts imported from Peru under HS Code 12021040 receive a special rate of duty.
13. Singapore Special Rate: Peanuts imported from Singapore under HS Code 12021040 receive a special rate of duty.
In terms of importing, the data provided does not specify any particular US states that are known for their import of peanuts under HS Code 12021040. However, it is important to note that peanuts are grown in various states across the country, including but not limited to Kansas, which may be a significant importer of this product.
HS Code 12021040 refers to peanuts (ground-nuts) that are not roasted or cooked and are in their shell. This HS code helps facilitate international trade by providing a standardized classification for this specific product. Importers and exporters should be aware of the duty rates associated with this HS code and also consider the special tariff preference programs that may offer reduced duties or duty-free treatment. Whether you enjoy peanuts as a snack or are involved in the global peanut trade, understanding the HS code for this product is essential for a smooth and compliant trade process.
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