Edible oil is a vital component of our daily diets, used in various culinary applications. In international trade, the Harmonized System (HS) code is used to classify goods for import and export. This article focuses on HS Code 15100040, which represents edible oil including blends, and their fractions, not chemically modified, weighing under 18 kg.
The HS Code 15100040 specifically covers edible oil products that are not chemically modified and weigh less than 18 kg. This code helps customs authorities and traders to accurately identify and categorize these goods during international trade transactions.
When it comes to the import and export of edible oil, various factors come into play, including duty rates, quantity units, and special tariff preference programs. Let's delve deeper into each of these aspects:
The bound or Most Favored Nation (MFN) duty rate for HS Code 15100040 is 5 cents/kg on both the contents and container. This duty rate implies 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 aims to promote fair and equal trade opportunities for all participating countries.
The quantity unit for HS Code 15100040 is kilograms (KG). This means that the weight of the edible oil products, including blends and their fractions, is measured in kilograms during import and export transactions.
Several special tariff preference programs are available for HS Code 15100040, providing certain countries with tariff advantages. These programs include:
When it comes to HS Code 15100040, various US states play a significant role in both importing and exporting edible oil products. Based on the available data, the following US states have been actively involved:
These states have been actively engaged in importing and exporting edible oil products, contributing to the overall trade dynamics of HS Code 15100040.
HS Code 15100040 represents edible oil products, including blends and their fractions, not chemically modified, weighing under 18 kg. Understanding the duty rates, quantity units, and special tariff preference programs associated with this code is crucial for successful international trade in edible oil. Additionally, recognizing the important role of specific US states in importing and exporting these products helps us comprehend the broader trade landscape of HS Code 15100040.