HS Code 99041206: A Comprehensive Guide to Peanuts in Shell
Peanuts have become a popular snack worldwide due to their delicious taste and nutritional benefits. Whether roasted, salted, or used in various culinary dishes, peanuts are a versatile ingredient enjoyed by many. In this article, we will delve into the specifics of peanuts in shell, categorized under HS Code 99041206. We will explore the product description, special tariff preference programs, importing and exporting US states, and other relevant information related to this HS Code.
Product Description: Peanuts, in shell, fall under the HS Code 99041206. This code refers to peanuts that are still encased in their shells. They are primarily classified under subheading 1202.10.80, which specifically includes peanuts in shell. It is important to note that these peanuts must have entered the value safeguard period and be priced at $0.25/kg or more.
Bound / MFN Duty Rate: The bound or most-favored-nation (MFN) duty rate is the rate at which peanuts in shell are imported/exported between countries. The MFN principle ensures that every time a country lowers a trade barrier or opens up a market, it must do so for the same goods or services from all its trading partners. Therefore, the bound/MFN duty rate for peanuts in shell will vary depending on the specific trade agreements and negotiations between countries.
Quantity Unit: Peanuts in shell are measured in kilograms (KG) as the standard unit of quantity. This unit allows for easy and consistent measurement when importing or exporting peanuts in shell.
Special Tariff Preference Programs: There are various special tariff preference programs that may apply to peanuts in shell under HS Code 99041206. These programs aim to promote trade and reduce barriers for specific products. Some of the notable programs include:
1. Generalized System of Preferences (GSP): The GSP is a program designed to promote economic growth in developing countries by providing duty-free treatment to eligible products. Peanuts in shell may qualify for this program if they meet the specific criteria outlined by the program.
2. African Growth and Opportunity Act (AGOA): The AGOA provides eligible African countries with duty-free access to the US market for a wide range of products, including agricultural goods. Peanuts in shell from qualifying African countries may benefit from this program.
3. Caribbean Basin Initiative (CBI): The CBI aims to promote economic development and diversification in the Caribbean region by providing duty-free access to the US market. Peanuts in shell originating from CBI beneficiary countries may be eligible for this program.
It is important for importers and exporters of peanuts in shell to research and understand the requirements and benefits of these special tariff preference programs to maximize their trade opportunities.
Importing US States: When it comes to importing peanuts in shell into the United States, various states play a significant role. Some of the major importing states for peanuts in shell include:
1. Georgia: Known as the "Peanut Capital of the World," Georgia has a long history of peanut cultivation and processing. It is a major hub for peanut imports and plays a crucial role in the US peanut industry.
2. Texas: Texas is another prominent state for peanut imports. Its favorable climate and agricultural resources make it an ideal location for peanut cultivation and processing.
3. Virginia: Virginia is known for its high-quality peanuts and plays a vital role in the importation of peanuts in shell.
Exporting US States: The United States is also a significant exporter of peanuts in shell. Some of the major exporting states include:
1. Texas: In addition to being a major importer, Texas is a leading exporter of peanuts in shell. Its abundant peanut production allows for both domestic consumption and international trade.
2. Georgia: Along with its import activities, Georgia is also a major exporter of peanuts in shell. Its well-established peanut industry facilitates export opportunities.
3. Alabama: Alabama is another state that contributes to the exportation of peanuts in shell. Its favorable climate and agricultural practices enable peanut cultivation and subsequent exportation.
HS Code 99041206 encompasses peanuts in shell, a popular and versatile snack enjoyed worldwide. This comprehensive guide has provided an overview of the product description, bound/MFN duty rate, quantity unit, special tariff preference programs, and the importing and exporting US states relevant to this HS Code. By understanding the intricacies of this code, importers and exporters can navigate the international trade landscape more effectively and optimize their peanut-related business activities.
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