Dairy products play a crucial role in the global food industry, and their trade is regulated by the Harmonized System (HS) Code. In this comprehensive article, we will delve into the details of HS Code 99040465, which encompasses various dairy products classified under different subcategories.
The HS Code 99040465 includes dairy products falling under the following subcategories: 0404.10.15, 1517.90.60, 1704.90.58, 1806.20.82, 1806.20.83, 1806.32.70, and more. These subcategories cover a wide range of dairy products, including milk and cream, butter and other fats, cheese, and various milk-based preparations.
Understanding the HS Code is crucial for international trade as it allows for standardized classification and documentation of goods. It ensures that the same products are identified and categorized uniformly across different countries, facilitating smooth trade transactions.
One important aspect related to HS Code 99040465 is the bound or Most Favored Nation (MFN) duty rate. The duty rate for dairy products classified under this HS Code is set at 3 cents per kilogram (kg). This means that for every kilogram of dairy products imported or exported, a duty of 3 cents is levied.
It's important to note that the bound or MFN duty rate remains constant. However, countries may implement special tariff preference programs that offer reduced or waived duties for specific trading partners. These programs aim to promote bilateral trade relationships and provide economic benefits to participating countries.
The safe period for the entered value of dairy products under HS Code 99040465 ranges from $1.30 to $1.499 per kilogram (kg). This refers to the acceptable price range for the declared value of the goods during import or export transactions. It ensures fair valuation and prevents the undervaluation or overvaluation of dairy products.
When it comes to quantity units, the standard unit for measuring dairy products under HS Code 99040465 is kilograms (kg). This allows for easy and accurate measurement of the imported or exported quantity, ensuring transparency and consistency in trade transactions.
Importing and exporting of dairy products under HS Code 99040465 vary across different US states. Some states may have higher demand for specific dairy products, while others may be major exporters of certain dairy items. Understanding these dynamics can help businesses make informed decisions regarding their trade strategies and target markets.
HS Code 99040465 covers a wide range of dairy products and plays a crucial role in regulating their international trade. It provides a standardized classification system, sets duty rates, and ensures fair valuation and measurement. By understanding this HS Code in detail, businesses can effectively navigate the global dairy market and capitalize on the opportunities it offers.