About HS Code 070992
This HS code pertains to fresh or chilled olives, which are primarily traded for further processing rather than direct consumption due to their natural bitterness. The global trade in fresh olives is substantial, forming the raw material backbone for the vast olive oil industry and the production of cured table olives. Major importers are processing plants and manufacturers in countries renowned for olive oil production or consumption. Exporters are typically large-scale olive-growing nations, predominantly in the Mediterranean basin. Key aspects of this trade include harvest seasonality, bulk transportation, and the need for rapid processing upon arrival to maintain quality. The variety of olive (e.g., for oil vs. table) also influences trade patterns and destinations.
Products Under This Code
Fresh green olives, Fresh black olives, Fresh Kalamata olives, Fresh Manzanilla olives, Fresh Picholine olives, Fresh Arbequina olives
Real World Examples
Olives from groves in Andalusia, Greek fresh olives for oil production, California fresh Mission olives, Italian fresh Coratina olives
Common Misclassification
Often confused with prepared or preserved olives (200570) which are ready for consumption, whereas these are raw, fresh olives intended for processing.
Products Classified Under 0709.92
Industry
This code belongs to the Agriculture & Live Animals industry.
Trade Overview
Spain, Italy, Greece, and Turkey are dominant in the fresh olive trade, both as producers and processors, with significant intra-EU trade.
Frequently Asked Questions
What is HS code 070992?
HS code 070992 covers: Vegetables; olives, fresh or chilled. This HS code pertains to fresh or chilled olives, which are primarily traded for further processing rather than direct consumption due to their natural bitterness. The global trade in fresh olives is substantial, forming the raw material backbone for the vast olive oil industry and the production of cured table olives. Major importers are processing plants and manufacturers in countries renowned for olive oil production or consumption. Exporters are typically large-scale olive-growing nations, predominantly in the Mediterranean basin. Key aspects of this trade include harvest seasonality, bulk transportation, and the need for rapid processing upon arrival to maintain quality. The variety of olive (e.g., for oil vs. table) also influences trade patterns and destinations.
What products fall under HS code 070992?
Fresh green olives, Fresh black olives, Fresh Kalamata olives, Fresh Manzanilla olives, Fresh Picholine olives, Fresh Arbequina olives
What are common misclassifications for HS code 070992?
Often confused with prepared or preserved olives (200570) which are ready for consumption, whereas these are raw, fresh olives intended for processing.
How is HS code 070992 structured?
HS code 070992 is a 6-digit subheading under the Harmonized System. The first 2 digits (07) identify the chapter, digits 3-4 (09) identify the heading, and digits 5-6 (92) specify the subheading. This code is standardized globally by the World Customs Organization.