HS Code 23063000: Oilcake and other solid residues, resulting from the extraction of vegetable fats or oils, of sunflower seeds
Oilcake and other solid residues, resulting from the extraction of vegetable fats or oils, of sunflower seeds, fall under HS Code 23063000. This code is used to classify and track the international trade of this specific product. In this article, we will explore the details of HS Code 23063000, including its product description, duty rates, quantity unit, special tariff preference programs, and the importing and exporting US states.
Product Description:
HS Code 23063000 refers to oilcake and other solid residues that are obtained from the extraction process of vegetable fats or oils from sunflower seeds. These residues are the by-products of the oil extraction industry and are commonly used as animal feed due to their high nutritional value.
Bound / MFN Duty Rate:
The bound or most-favored-nation (MFN) duty rate for HS Code 23063000 is 0.45 cents per kilogram (KG). 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. The duty rate serves as a tariff that is imposed on the imported product.
Quantity Unit:
The quantity unit for HS Code 23063000 is kilograms (KG). This unit is used to measure the weight of the imported or exported oilcake and solid residues.
Special Tariff Preference Programs:
Several special tariff preference programs are applicable to HS Code 23063000. These programs provide certain countries with preferential treatment or even duty-free access to the market. The following programs are relevant to this HS code:
- Free: Certain countries excluded from GSP eligibility for that HTS subheading (duty-free treatment)
- Australia Special Rate
- Bahrain Special Rate
- NAFTA for Canada (duty-free treatment)
- Chile Special Rate
- Caribbean Basin Initiative (CBI)
- Israel Special Rate (duty-free treatment)
- Andean Trade Preference Act (ATPA)
- Jordan Special Rate
- Morocco Special Rate
- NAFTA for Mexico
- Oman Special Rate
- Dominican Republic-Central American Special Rate (DR-CAFTA)
- Peru Special Rate
- Singapore Special Rate
These special tariff preference programs aim to promote trade and economic cooperation between countries by reducing or eliminating import duties for specific goods.
Importing US States:
HS Code 23063000 is imported by several US states. The states that import this product include:
- Virgin Islands
- District of Columbia
- Nevada
These states receive imports of oilcake and solid residues under this HS code. The importation of this product contributes to the local economy and supports various industries such as animal feed production.
Exporting US States:
On the other hand, several US states export oilcake and solid residues under HS Code 23063000. The states that export this product include:
- Arkansas
- Alaska
- Nebraska
- Illinois
- Iowa
- Louisiana
- North Dakota
- South Dakota
- Kansas
- Minnesota
- Missouri
- Virginia
These exporting states play a significant role in the global trade of oilcake and solid residues. They contribute to meeting the demand for this product in international markets.
HS Code 23063000 represents oilcake and other solid residues obtained from sunflower seeds' extraction process. This code helps classify and monitor the international trade of this product. Understanding the details of this HS code, such as the product description, duty rates, quantity unit, special tariff preference programs, and importing/exporting states, is crucial for businesses and policymakers involved in global trade.
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