Castor oil, derived from the seeds of the castor oil plant (Ricinus communis), is a versatile and valuable product used in various industries. The HS Code 15153000 specifically refers to castor oil and its fractions, whether or not refined, but not chemically modified. This article will explore the product description, duty rates, quantity unit, special tariff preference programs, and the importing and exporting US states related to this HS code.
Castor oil is a pale yellow liquid with a distinct odor. It is extracted from the castor seeds through a pressing process. The oil is rich in ricinoleic acid, a monounsaturated fatty acid known for its beneficial properties. Castor oil has a wide range of applications, including industrial uses such as lubricants, hydraulic fluids, and biodiesel production. It is also commonly used in the cosmetic and pharmaceutical industries for its moisturizing and soothing properties.
The bound / MFN (Most Favored Nation) duty rate for HS Code 15153000 is free. This means that countries must provide duty-free treatment for imports of castor oil and its fractions, as long as the goods meet the specified criteria. Trade barriers, such as tariffs or quotas, are lowered or eliminated to promote fair and open trade among trading partners.
The quantity unit for HS Code 15153000 is kilograms (KG). This unit of measurement is commonly used in international trade to quantify the weight of goods being imported or exported.
Several special tariff preference programs provide reduced or duty-free treatment for imports of castor oil and its fractions under HS Code 15153000. These programs aim to promote economic development and trade with specific countries or regions. The following programs offer special rates for importing castor oil:
These special tariff preference programs aim to enhance trade relations and provide economic benefits for both the importing and exporting countries involved.
Castor oil and its fractions under HS Code 15153000 are imported by various states in the United States. Some of the major importing states include:
These states play a crucial role in the importation and distribution of castor oil within the United States.
Castor oil and its fractions under HS Code 15153000 are exported by various states in the United States. Some of the major exporting states include:
These exporting states contribute to the global trade of castor oil, meeting the demand of international markets.
HS Code 15153000 represents castor oil and its fractions, whether or not refined, but not chemically modified. Understanding the product description, duty rates, special tariff preference programs, and the involvement of different US states in the import and export of castor oil provides valuable insights into the global trade dynamics of this versatile product.