HS Code 15071000: Crude Soybean Oil
Crude soybean oil, whether or not degummed, falls under HS Code 15071000. This code is used to classify and identify the specific product for international trade purposes. In this article, we will explore the details of this HS code, including its product description, duty rates, quantity unit, special tariff preference programs, and the importing and exporting US states for this product.
Product Description: Crude soybean oil refers to the oil extracted from soybeans, which can be used for various purposes such as cooking, biodiesel production, and as an ingredient in various food products. The "whether or not degummed" aspect signifies whether the oil has undergone a degumming process to remove impurities.
Bound / MFN Duty Rate: The bound / MFN (Most Favored Nation) duty rate for HS Code 15071000 is 19.1%. This means 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. This duty rate applies to crude soybean oil imports regardless of the country of origin.
Quantity Unit: The quantity unit for HS Code 15071000 is kilograms (KG). This unit is used to measure the weight of the imported or exported crude soybean oil.
Special Tariff Preference Programs: Crude soybean oil under HS Code 15071000 is eligible for various special tariff preference programs. These programs provide specific duty rates for imports from certain countries or regions. The following are the special tariff rates for different programs:
- Free: Imports from least-developed beneficiary developing countries eligible for GSP (Generalized System of Preferences) under that subheading receive duty-free treatment. Imports from Canada under NAFTA (North American Free Trade Agreement) also receive duty-free treatment. Additionally, imports from countries eligible for the Africa Growth and Opportunity Act (AGOA), Caribbean Basin Initiative (CBI), Israel Special Rate, Andean Trade Preference Act (ATPA), Jordan Special Rate, NAFTA for Mexico, Dominican Republic-Central American Special Rate (DR-CAFTA), and Peru Special Rate are eligible for duty-free treatment.
- Australia Special Rate: Imports from Australia receive a duty rate of 7.6%.
- Bahrain Special Rate: Imports from Bahrain receive a duty rate of 9.5%.
- Morocco Special Rate: Imports from Morocco receive a duty rate of 9.5%.
- Chile Special Rate: Imports from Chile receive a duty rate of 11.4%.
- Oman Special Rate: Imports from Oman receive a duty rate of 7.9%.
- Singapore Special Rate: Imports from Singapore receive a duty rate of 2.3%.
Importing US States: Crude soybean oil under HS Code 15071000 is imported by various US states. Some notable importing states for this product are Alaska, Louisiana, and Virginia. These states engage in importing crude soybean oil to meet their domestic demands or for further processing and distribution.
Exporting US States: The exporting US states for crude soybean oil under HS Code 15071000 may vary depending on the specific trade transactions. However, it is important to note that Alaska is listed as an exporting state in the provided data.
HS Code 15071000 represents crude soybean oil, whether or not degummed, in international trade. This code is used to classify and identify the product, determine duty rates, and track trade statistics. Understanding the details of this HS code is crucial for importers, exporters, and policymakers involved in the global soybean oil trade.
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