HS Code 32050005 pertains to the classification and identification of carmine food coloring solutions. These solutions contain cochineal carmine lake and paprika oleoresins, and do not include any synthetic organic coloring matter. This code is used to facilitate international trade and ensure proper categorization of goods for customs purposes.
Carmine, also known as cochineal carmine or carmine lake, is a natural red colorant derived from the cochineal insect. It has been used for centuries to add vibrant red hues to a variety of food and beverage products. Paprika oleoresins, on the other hand, are obtained from the fruits of the Capsicum annuum plant and are commonly used as food flavoring and coloring agents.
The HS Code 32050005 is used to classify carmine food coloring solutions based on their composition and purpose. It helps customs authorities identify and categorize these products for import and export purposes, ensuring compliance with regulations and facilitating international trade.
One key aspect of HS Code 32050005 is the bound or Most Favored Nation (MFN) duty rate. The bound duty rate refers to the maximum tariff rate that a country can impose on the importation of a specific product. In the case of carmine food coloring solutions, the bound duty rate is set at free. This means that countries are not allowed to impose any tariff or duty on imports of these products.
The principle behind the MFN duty rate is to ensure equal and fair treatment of all trading partners. When a country lowers a trade barrier or opens up its market, it must do so for the same goods or services from all its trading partners. This promotes transparency, non-discrimination, and a level playing field in international trade.
The quantity unit for carmine food coloring solutions is kilograms (KG). This unit of measurement is used to determine the weight or quantity of the product being imported or exported. It helps customs authorities assess the value, volume, and compliance of the goods being traded.
Additionally, carmine food coloring solutions enjoy special tariff preference programs, which provide certain countries with preferential treatment in terms of duty rates. The countries that qualify for these programs include: Australia (Special Rate), Bahrain (Special Rate), Canada (NAFTA - duty-free treatment), Chile (Special Rate), Caribbean Basin Initiative (CBI), Israel (Special Rate - duty-free treatment), Andean Trade Preference Act (ATPA), Jordan (Special Rate), Agreement on Trade in Pharmaceutical Products (duty-free treatment), Morocco (Special Rate), Mexico (NAFTA - duty-free treatment), Oman (Special Rate), Dominican Republic-Central American (DR-CAFTA), Peru (Special Rate), and Singapore (Special Rate).
These special tariff preference programs aim to promote economic cooperation, development, and trade between the participating countries. They provide preferential treatment in terms of duty rates, helping to reduce trade barriers and encourage the exchange of goods and services.
HS Code 32050005 is used to classify carmine food coloring solutions, which contain cochineal carmine lake and paprika oleoresins. This code facilitates international trade by providing a standardized classification system for these products. The bound duty rate is set at free, ensuring that countries do not impose any tariffs or duties on imports of these solutions. Additionally, certain countries qualify for special tariff preference programs, allowing for preferential treatment in terms of duty rates. These programs aim to promote trade and economic cooperation among the participating countries.