HS Code 99041205: A Comprehensive Guide to Peanuts in Shell
- Product description: Peanuts, in shell, in 1202.10.80, entered in value safeguard period, $0.20-$0.249/kg
- Bound / MFN duty rate: 1.7 cents/kg
- Quantity unit: Kilograms (KG)
Peanuts, a popular legume known for their delicious taste and nutritional benefits, are classified under HS Code 99041205. This code is used to identify peanuts in shell, specifically those falling under the product description of 1202.10.80. In this article, we will delve deeper into the details of this HS Code, exploring its implications for international trade, tariff rates, and more.
Understanding the Product Description
The product description for HS Code 99041205 specifies peanuts in shell. This means that the peanuts are still encased in their natural shells, providing added protection and freshness. The specific subheading 1202.10.80 further defines the type and quality of peanuts falling under this HS Code. It is important to note that this code is applicable only to peanuts in shell and not to shelled or processed peanuts.
Tariff Rates and Trade Barriers
The bound / MFN (Most Favored Nation) duty rate for peanuts in shell under HS Code 99041205 is 1.7 cents/kg. This duty rate applies to every kilogram of peanuts imported or exported under this code. It is crucial to understand that this duty rate can fluctuate based on various factors, including trade agreements, trade barriers, and international negotiations.
One important principle in international trade is the concept of reciprocity. This means that every time a country lowers a trade barrier or opens up a market for certain goods or services, it must do so for the same goods or services from all its trading partners. This principle ensures fair and equal treatment among trading nations and encourages the growth of global commerce.
Quantity Unit: Kilograms (KG)
HS Code 99041205 uses kilograms (KG) as the quantity unit for measuring the weight of peanuts in shell. Kilograms are a commonly used unit of measurement in international trade due to their simplicity and uniformity. When importing or exporting peanuts under this HS Code, it is important to accurately measure and record the weight in kilograms to ensure compliance with customs regulations.
Special Tariff Preference Programs
In addition to the bound / MFN duty rate, there may be special tariff preference programs available for peanuts in shell under HS Code 99041205. These programs are designed to promote trade and provide certain benefits to importing or exporting countries. However, the availability and eligibility criteria for such programs may vary depending on the specific trade agreements and regulations of each country.
Importing and Exporting US States
As for the importing and exporting US states for peanuts in shell under HS Code 99041205, it is important to consider the domestic production and demand for peanuts within the United States. Some of the major peanut-producing states in the US include Georgia, Texas, Alabama, and Florida. These states have favorable climatic conditions for peanut cultivation and contribute significantly to the domestic and international peanut trade.
On the other hand, the exporting US states may vary depending on the demand and trade agreements with other countries. Some of the main destinations for US peanut exports include Canada, Mexico, China, and Japan. These countries have a high demand for peanuts in various forms, including in shell, shelled, or processed.
HS Code 99041205 plays a crucial role in international trade, specifically for peanuts in shell. Understanding the product description, tariff rates, quantity units, and special tariff preference programs associated with this HS Code is essential for importers, exporters, and government authorities involved in peanut trade. By adhering to the regulations and guidelines outlined by this code, stakeholders can ensure smooth and compliant trade operations while enjoying the benefits of this versatile and nutritious legume.
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