The HS Code 23064100 refers to oilcake and other solid residues that are obtained from the extraction of vegetable fats or oils, specifically from low erucic acid rape or colza seeds. This code is used to classify and regulate the trade of this particular product internationally.
The bound or MFN (Most Favored Nation) duty rate for this HS code is 0.17 cents per kilogram (KG). This means 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. The duty rate ensures fair and equal treatment among trading nations.
The quantity unit for this HS code is kilograms (KG), which is the standard unit of measurement for the weight of the product. This ensures consistency and accuracy in trade transactions and data recording.
There are several special tariff preference programs that apply to this HS code. These programs provide certain countries with preferential treatment and exemptions from import duties. The countries included in these programs for HS Code 23064100 are:
When importing HS Code 23064100 into the United States, the following states are known to engage in trade for this product:
These states have shown a demand for oilcake and other solid residues from vegetable fats or oils extraction, and businesses in these states may engage in importing activities related to this HS code.
It is worth noting that the HS code 23064100 is just one of the many codes used to classify and regulate different goods and products in international trade. Each HS code represents a specific product or group of products, and it plays a crucial role in facilitating global trade by providing a common language for customs authorities and traders.
Understanding the HS code system and its associated information is essential for businesses engaged in international trade, as it helps ensure compliance with regulations, determine import duties, and access preferential treatment programs.