When it comes to international trade, the Harmonized System (HS) Code plays a crucial role in classifying products for import and export purposes. HS Code 08119010 specifically refers to bananas and plantains that are frozen, either in water or containing added sweetening. This code helps customs authorities and traders worldwide to accurately identify and categorize these products.
Bananas and plantains are popular fruits that are consumed and traded globally. However, the frozen variant offers unique benefits, such as extended shelf life and convenience. Let's delve deeper into the details of HS Code 08119010 and explore its implications in international trade.
The product description for HS Code 08119010 is "Bananas and plantains, frozen, in water or containing added sweetening." This means that the bananas and plantains in question have undergone a freezing process, either in water or with the addition of sweeteners. This allows for longer storage periods and opens up opportunities for trade in regions where fresh bananas may not be readily available.
The bound / MFN (Most Favored Nation) duty rate for HS Code 08119010 is 3.4%. This rate applies to all countries uniformly. The MFN principle ensures that when a country lowers a trade barrier or opens up a market, it has to do so for the same goods or services from all its trading partners. This promotes fair and equal treatment in international trade.
The quantity unit for HS Code 08119010 is kilograms (KG). This unit of measurement is used to determine the weight of the frozen bananas and plantains being imported or exported. It ensures standardization and accuracy in trade transactions.
HS Code 08119010 is eligible for various special tariff preference programs, which can provide benefits and exemptions to importers and exporters. The following programs apply to this HS Code:
HS Code 08119010 allows for the import and export of frozen bananas and plantains to and from various US states. The specific states involved in these trade transactions may vary depending on market demand and supply. However, prominent US states engaged in the import and export of frozen bananas and plantains include:
These states serve as important hubs for trade and distribution, facilitating the flow of frozen bananas and plantains across the United States.
HS Code 08119010 plays a vital role in classifying and regulating the trade of frozen bananas and plantains. Understanding this code and its associated details, such as the product description, duty rate, quantity unit, and special tariff preference programs, allows importers, exporters, and customs authorities to navigate international trade transactions more efficiently. By adhering to the HS Code system, countries can ensure fair trade practices and facilitate the global exchange of goods.