Oilcake and other solid residues from the extraction of vegetable fats or oils of palm nuts or kernels fall under the HS Code 23066000. This code is used to classify and identify this specific product for international trade purposes.
The HS Code 23066000 is a globally recognized code that helps in the standardization of product classification across countries. It allows for easy identification and tracking of goods during customs clearance and trade transactions.
The product covered by HS Code 23066000 refers to oilcake and other solid residues obtained from the extraction of vegetable fats or oils from palm nuts or kernels. Oilcake is the solid residue left after the oil has been extracted from the nuts or kernels.
This product is commonly used in animal feed formulations due to its high nutritional value. It contains protein, fiber, and other essential nutrients that contribute to the overall health and growth of livestock. Oilcake from palm nuts or kernels is particularly rich in energy and can be used as a supplement in the diets of various animals, including poultry, swine, and cattle.
The extraction process involves crushing the nuts or kernels to extract the oil, leaving behind the solid residue. This residue undergoes further processing to remove any remaining oil and moisture, resulting in the final product – oilcake.
The bound or most-favored-nation (MFN) duty rate for HS Code 23066000 is 0.32 cents per kilogram (KG). The bound duty rate represents the maximum tariff rate that a country can charge on imports of this product. However, countries may apply lower duty rates or even duty-free treatment based on various trade agreements and tariff preference programs.
In international trade, countries often negotiate and enter into agreements to lower trade barriers and facilitate the flow of goods and services. When a country lowers a trade barrier or opens up a market, it is required to do so for the same goods or services from all its trading partners. This principle ensures fair and equal treatment for all countries involved in trade.
The quantity unit for HS Code 23066000 is kilograms (KG). This unit of measurement is used to quantify the weight of the product being imported or exported. The KG unit allows for accurate calculation and assessment of duties, taxes, and other trade-related costs based on the weight of the goods.
Several special tariff preference programs provide duty-free treatment or special rates for imports of oilcake and other solid residues from palm nuts or kernels (HS Code 23066000). These programs aim to promote trade and economic development between countries by offering preferential treatment for certain products.
When it comes to importing oilcake and other solid residues from palm nuts or kernels (HS Code 23066000) into the United States, certain states play a significant role. These states are:
These states have a significant presence in the importation of this product, either due to their geographical location, agricultural industry, or specific demand for animal feed ingredients.
On the other hand, the exporting states within the United States may vary depending on the availability of palm nuts or kernels and the local extraction and processing facilities.
HS Code 23066000 represents oilcake and other solid residues obtained from the extraction of vegetable fats or oils from palm nuts or kernels. This product is widely used in the animal feed industry and is subject to specific duty rates, special tariff preference programs, and import/export considerations. Understanding the HS Code and associated information is crucial for businesses involved in international trade of this product.