Olives have been a popular and versatile ingredient in various cuisines around the world for centuries. With their distinct flavor and numerous health benefits, olives are not only delicious but also a valuable addition to any meal. In this article, we will explore HS Code 20057008, which specifically refers to olives, green, not pitted, in saline, not ripe, in containers holding over 8 kg for repackaging, and is not subject to any additional US regulations as stated in US note 4 to Ch. 20.
HS Code 20057008 is used to classify olives that are green, meaning they are harvested before fully ripening. These olives are typically preserved in saline solution to enhance their flavor and extend their shelf life. Furthermore, the olives are not pitted, which means they still contain their stone or pit. This characteristic is often preferred by consumers who enjoy the added texture and flavor that the pit provides.
When it comes to trade, HS Code 20057008 is subject to a bound / MFN (Most Favored Nation) duty rate of 3.7 cents per kilogram on drained weight. This means that every time 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. This ensures fair and equal treatment in international trade.
The quantity unit for olives classified under HS Code 20057008 is kilograms (KG). This allows for easy measurement and standardized trade across different countries and regions.
There are also several special tariff preference programs applicable to olives classified under HS Code 20057008. These programs provide certain countries with preferential treatment in terms of duty rates. The following countries enjoy duty-free treatment: Australia, Bahrain, Canada (under NAFTA), Israel, Jordan, Morocco, Mexico (under NAFTA), Oman, Peru, Singapore. Additionally, Chile has a special rate of 0.4? per kilogram on drained weight.
When it comes to importing olives classified under HS Code 20057008, the main destination is the Virgin Islands. On the other hand, the main exporting states in the United States are Oregon and Washington. These states are known for their olive production and play a crucial role in supplying olives to both domestic and international markets.
HS Code 20057008 is an important classification for olives, specifically green olives that are not pitted, preserved in saline solution, and not ripe. This code allows for easy trade and facilitates the exchange of olives between different countries. With its diverse applications in various cuisines, olives classified under this HS code are a valuable commodity in the global market.