HS Code 15089000: Peanut (ground-nut) oil, other than crude, and its fractions, whether or not refined, but not chemically modified
Peanut oil, also known as ground-nut oil, is classified under HS Code 15089000. This code is specifically used to identify and categorize peanut oil that is not crude and its fractions, whether refined or not, but not chemically modified. 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.
Product Description:
HS Code 15089000 refers to peanut oil that is derived from peanuts (ground-nuts). It includes all forms of peanut oil that are not in their crude state and have undergone some level of processing or refining. The code also specifies that the oil should not have undergone any chemical modifications.
Bound / MFN Duty Rate:
The bound or most-favored-nation (MFN) duty rate for HS Code 15089000 is 7.5 cents per kilogram (KG). This rate applies whenever a country lowers a trade barrier or opens up a market. It is important to note that this duty rate applies to all trading partners of a country for the same goods or services.
Quantity Unit:
The quantity unit for HS Code 15089000 is kilograms (KG). This means that the weight of imported peanut oil is measured and calculated in kilograms.
Special Tariff Preference Programs:
HS Code 15089000 is eligible for various special tariff preference programs. These programs offer certain countries preferential treatment in terms of duty rates. Some of the special tariff preference programs applicable to this HS code are as follows:
1. Free:
- Imports from least-developed beneficiary developing countries eligible for Generalized System of Preferences (GSP) under that subheading receive duty-free treatment.
- Bahrain Special Rate
- NAFTA for Canada (duty-free treatment)
- Africa Growth and Opportunity Act (AGOA) (duty-free treatment)
- Caribbean Basin Initiative (CBI)
- Israel Special Rate (duty-free treatment)
- Andean Trade Preference Act (ATPA)
- Jordan Special Rate
- NAFTA for Mexico
- Oman Special Rate
- Dominican Republic-Central American Special Rate (DR-CAFTA)
- Peru Special Rate
- Singapore Special Rate
2. 4.9 cents/kg:
- Australia Special Rate
3. 2.2 cents/kg:
- Chile Special Rate
4. 4.3 cents/kg:
- Morocco Special Rate
Importing US States:
Peanut oil classified under HS Code 15089000 is imported by various US states. Some of the states involved in importing peanut oil include Alaska, Louisiana, and Virginia.
HS Code 15089000 is used to identify peanut (ground-nut) oil that is not crude, and its fractions, whether refined or not, but not chemically modified. The code specifies the duty rates, quantity unit, and special tariff preference programs applicable to this product. It is important for importers, exporters, and traders to be familiar with this HS code to ensure compliance and take advantage of any available tariff preferences.
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