HS Code 38231200 refers to the product known as Oleic Acid, which is classified under Chapter 38 of the Harmonized System (HS). This code is used to identify and categorize specific goods for international trade purposes. In this article, we will explore the details of Oleic Acid, its properties, and the trade associated with it.
Oleic Acid is a fatty acid that is commonly derived from various vegetable oils, such as olive oil and sunflower oil. It is a colorless or pale yellow liquid with a characteristic odor. Oleic Acid is primarily used in the production of soaps, detergents, cosmetics, and personal care products. It is also used as a raw material for the synthesis of various chemicals, including esters, amides, and metallic salts.
The bound or Most Favored Nation (MFN) duty rate for Oleic Acid is 2.1 cents/kg plus 3.2% ad valorem. This means that whenever a country reduces trade barriers or opens up its market, it must do so for Oleic Acid imports from all its trading partners. The duty rate ensures fair and equal treatment for all countries in international trade.
Oleic Acid is measured and traded in kilograms (KG). This unit is universally recognized and used in international trade to facilitate accurate quantity measurement and price calculation.
Oleic Acid enjoys special tariff preference programs in several countries. The following countries provide duty-free treatment for imports of Oleic Acid:
These special tariff preference programs aim to promote trade and economic cooperation between countries by reducing or eliminating import duties on specific goods, such as Oleic Acid.
Several US states import Oleic Acid. The following states are known for their import activities related to Oleic Acid:
These states play a significant role in the importation of Oleic Acid and contribute to the overall trade volume of the product in the United States.
On the other hand, several US states are known for their export activities related to Oleic Acid. The following states are major exporters of Oleic Acid:
These states actively participate in the exportation of Oleic Acid, contributing to the international trade of the product.
HS Code 38231200 represents Oleic Acid, a versatile product used in various industries. The code helps in identifying and facilitating international trade of Oleic Acid. With its unique properties and applications, Oleic Acid plays a crucial role in global commerce, benefiting both importing and exporting countries.