HS Code 15081000: Crude Peanut (Ground-nut) Oil
Crude peanut (ground-nut) oil falls under HS Code 15081000. This code is used to classify and identify the specific product for international trade purposes. HS codes are standardized codes that are recognized globally, allowing for easier classification and tracking of goods.
The product description for HS Code 15081000 is "Crude peanut (ground-nut) oil." This indicates that the code is specifically used for crude oil derived from peanuts or ground-nuts. Peanut oil is a widely used cooking oil known for its distinct flavor and high smoking point, making it suitable for various culinary applications.
The bound or MFN (Most Favored Nation) duty rate for HS Code 15081000 is 7.5 cents/kg. This duty rate applies every time a country lowers a trade barrier or opens up a market. It ensures that any change in trade regulations affects all trading partners equally, maintaining fair trade practices.
The quantity unit for HS Code 15081000 is kilograms (KG). This unit of measurement is used to quantify the weight of the product being imported or exported. In the case of crude peanut oil, the weight is measured in kilograms.
HS Code 15081000 is eligible for various special tariff preference programs. These programs provide certain benefits or exemptions from import duties for specific countries or regions. Some of the special tariff preference programs applicable to HS Code 15081000 include:
- Free: This program grants duty-free treatment to imports from least-developed beneficiary developing countries eligible for the Generalized System of Preferences (GSP) under that subheading.
- Bahrain Special Rate
- NAFTA for Canada: This program provides duty-free treatment under the North American Free Trade Agreement (NAFTA) for imports from Canada.
- Africa Growth and Opportunity Act (AGOA): This program grants duty-free treatment under the AGOA for eligible imports from African countries.
- Caribbean Basin Initiative (CBI)
- Israel Special Rate
- Andean Trade Preference Act (ATPA)
- Jordan Special Rate
- NAFTA for Mexico: This program provides duty-free treatment under NAFTA for imports from Mexico.
- Dominican Republic-Central American Special Rate (DR-CAFTA)
- Peru Special Rate
- Singapore Special Rate
- Australia Special Rate: This program offers a reduced duty rate of 4.9 cents/kg for imports from Australia.
- Chile Special Rate: This program offers a reduced duty rate of 3.1 cents/kg for imports from Chile.
- Morocco Special Rate: This program offers a reduced duty rate of 4.3 cents/kg for imports from Morocco.
- Oman Special Rate: This program offers a reduced duty rate of 4.5 cents/kg for imports from Oman.
When it comes to importing HS Code 15081000 into the United States, the data suggests that the states with the highest import volumes are Alaska, Louisiana, and Virginia. These states have shown a consistent demand for crude peanut oil, possibly due to their culinary preferences or local food processing industries.
HS Code 15081000 is used for the classification of crude peanut (ground-nut) oil in international trade. It is subject to a bound or MFN duty rate of 7.5 cents/kg. The code is eligible for various special tariff preference programs, offering duty-free treatment or reduced duty rates for imports from specific countries or regions. Import data indicates that Alaska, Louisiana, and Virginia are prominent importing states for this product.
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