HS Code 99041204: An Extensive Guide to Peanuts in Shell
Peanuts, a popular and nutritious snack, have been enjoyed by people all over the world for centuries. In the world of international trade, peanuts are classified under HS Code 99041204. This code provides a clear and standardized classification for peanuts in shell, making it easier for countries to regulate and track the import and export of this commodity.
The product description of HS Code 99041204 specifies that it refers to peanuts in shell that fall under the category of 1202.10.80. This specific classification is important as it helps distinguish peanuts in shell from other forms of peanuts, such as shelled peanuts or peanut butter. By using HS Code 99041204, customs officials can easily identify and verify the nature of the imported or exported peanuts.
One notable aspect of HS Code 99041204 is the mention of a value safeguard period. This period is applicable when the peanuts are entered into the market at a specific price range of $0.15 to $0.199 per kilogram. This safeguard period ensures that the imported peanuts are sold within a certain price range, preventing any unfair pricing practices that could harm domestic producers.
When it comes to trade barriers and market openness, HS Code 99041204 is subject to a bound / MFN (Most Favored Nation) duty rate. The duty rate for peanuts in shell is set at 3.3 cents per kilogram. This duty rate applies to all countries equally, ensuring a level playing field for all trading partners. If a country decides to lower its trade barriers or open up its market, it must do so for all goods or services, including peanuts in shell, from all its trading partners.
The quantity unit for HS Code 99041204 is kilograms (KG). This unit provides a standardized and universally recognized measure for the import and export of peanuts in shell. By using kilograms as the quantity unit, it becomes easier for countries to accurately track the volume of peanuts in shell being traded.
In addition to the standard regulations and duty rates, HS Code 99041204 may also be eligible for special tariff preference programs. These programs are designed to promote trade and economic cooperation between countries. They offer preferential treatment, such as lower duty rates or exemptions, for certain products, including peanuts in shell. The eligibility and specific details of these programs may vary depending on the country of import or export.
When it comes to importing peanuts in shell to the United States, different states may have specific regulations or requirements. It is important for importers to be aware of these state-level regulations to ensure compliance and smooth customs clearance. Similarly, when exporting peanuts in shell from the United States, exporters should be familiar with the regulations and requirements of the destination country.
HS Code 99041204 provides a comprehensive classification for peanuts in shell in the world of international trade. It helps regulate the import and export of this popular commodity and ensures fair trade practices. By understanding the details and implications of this HS code, importers and exporters can navigate the global market for peanuts in shell with confidence.
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