The HS Code 15131900 refers to coconut (copra) oil and its fractions, which are not chemically modified. This code covers coconut oil that is refined but not in its crude form. It is important to note that when 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 this HS code is kilograms (KG). This means that the measurement for importing and exporting coconut oil is done in kilograms.
There are special tariff preference programs associated with this HS code. The following countries enjoy duty-free treatment when importing coconut oil: Australia, Bahrain, Canada (under NAFTA), Chile, Dominican Republic, Israel, Jordan, Mexico (under NAFTA), Morocco, Oman, Peru, Singapore, and certain beneficiary developing countries under the Africa Growth and Opportunity Act (AGOA) and the Caribbean Basin Initiative (CBI).
For imports from least-developed beneficiary developing countries eligible for the Generalized System of Preferences (GSP), coconut oil is eligible for duty-free treatment. This means that these countries can import coconut oil without paying any duties.
Australia has a special rate for importing coconut oil, Bahrain enjoys duty-free treatment, and Canada benefits from duty-free treatment under the North American Free Trade Agreement (NAFTA). Similarly, coconut oil imported from countries eligible for the AGOA and CBI programs also receives duty-free treatment.
Israel has a special rate for importing coconut oil, and the Andean Trade Preference Act (ATPA) applies to coconut oil imports from Jordan. Morocco and Oman also have special rates for importing coconut oil. Coconut oil imported from Mexico falls under the NAFTA agreement, and the Dominican Republic-Central American Special Rate (DR-CAFTA) applies to coconut oil imports from Peru.
Chile and Singapore have a special rate of 0.7? per kilogram for importing coconut oil. This means that a specific duty of 0.7? is levied on every kilogram of coconut oil imported from these countries.
When importing coconut oil, it is crucial to consider the special tariff preference programs and the associated rates. Understanding these tariffs and preferences can help importers and exporters make informed decisions and maximize their trade benefits.
It is worth noting that the HS Code 15131900 specifically covers coconut (copra) oil and its fractions, and not other types of oils or oil products. This code ensures that the classification is accurate and allows for efficient trade data collection and analysis.