HS Code Guide · EPM Subvention
HS Code 100590 Meaning — Maize (corn), other than seed: Global Trade, India & Factoring Guide
HS 100590 covers maize (corn), other than seed. This guide explains what the code includes, its global trade, India's position, how GIFT City helps factor it, and whether MSME factoring qualifies for the 2.75% interest subvention.
What this HS code covers
HS 100590 sits in 10 — Cereals. Official tariff description: “Cereals; maize (corn), other than seed” In plain terms, it covers maize (corn), other than seed. Classification decides duty and documents; this 6-digit line is in the DGFT positive list (Trade Notice 25/2025-26 Annex V), so MSME factoring under it qualifies for the 2.75% subvention — details below.
What is HS 100590?
HS 100590 covers commercial maize grain other than seed — feed and industrial grade, not seed (100510).
Official description: Cereals; maize (corn), other than seed
What HS 100590 does in trade
- Separates commodity maize from seed and corn milling products — customs policy sometimes restricts exports by grade.
- Is eligible — maize is in the positive list, so factoring qualifies for 2.75%.
- Enables bulk, storable factoring with 60–90 day terms to SE Asia feed mills.
Global perspective — where HS 100590 moves
Global maize trade ~180 MT, largest cereal trade by volume. US, Brazil and Argentina dominate supply; Asia is the demand engine for feed.
| Top global exporters | Top global importers |
|---|---|
| United States | China |
| Brazil | Mexico |
| Argentina | Japan |
| Ukraine | Spain |
| India | South Korea |
India's stance on HS 100590
India is a top-5 maize exporter in good monsoon years — Karnataka, MP and Bihar hubs. APEDA registers exporters; DGFT policy on maize moves with domestic feed prices.
Export docs to watch
Maize needs APEDA RCMC, phytosanitary and, for GM concerns, destination-specific declarations.
GIFT City — factoring HS 100590 in foreign currency
Maize is bulk USD invoiced — GIFT City factoring keeps FX efficient for 60–90 day feed contracts.
Trad can route eligible invoices via an IFSCA-regulated IBU or Finance Company/Finance Unit undertaking factoring in GIFT City. The 2.75% subvention is identical whether you factor via India (RBI-regulated) or GIFT City (IFSCA-regulated) — the choice is about currency, banking relationship and buyer location, not the benefit rate.
Common financing stack for this HS
Factoring advances 70–90% in 24–48 hours after invoice verification; balance minus discount/fees on buyer payment. Works alongside packing credit — factoring covers the post-shipment open-account gap.
MSME subvention — is HS 100590 eligible for 2.75%?
Yes — HS 100590 is in the positive list (Trade Notice 25/2025-26 Annex V). MSMEs involved in international value chains with a valid active IEC (not in DEL) and valid Udyam can claim 2.75% per annum on the factoring interest cost element when factoring via an RBI/IFSCA-regulated entity.
| Check | For HS 100590 |
|---|---|
| In positive list (HS-6) | Yes — 100590 listed in Annex V |
| Benefit | 2.75% p.a. on interest cost element |
| Annual cap | ₹50 lakh per MSME per FY |
| Valid from | Prospectively from 20 Feb 2026 |
| Need UIN per factor? | Yes — declaration of intent before factoring, valid till FY-end |
| Eligible factors | RBI-regulated (AD bank / factoring NBFC) or IFSCA-regulated (GIFT IBU/FC) |
| Not covered | Deemed exports (FTP Ch.7) & exports to SEZs |
Eight-digit HS? Use first 6 digits
Eligibility is at HS-6. If your 8-digit HS (e.g. 10059010) starts with 100590, it inherits this eligibility. Verify on the HS checker — enter 6 or 8 digits.
Check HS 100590 — free
Verify any 6 or 8-digit HS against the DGFT positive list and see the 2.75% factoring eligibility in seconds.
Open HS checkerFrequently asked questions
What is HS 100590 — Maize (corn), other than seed?
HS 100590 covers commercial maize grain other than seed — feed and industrial grade, not seed (100510).
Is HS 100590 eligible for the 2.75% interest subvention?
Yes. HS 100590 is in the DGFT positive list (Trade Notice 25/2025-26 Annex V, 4139 HS-6 lines). MSMEs factoring exports under this line via RBI/IFSCA-regulated factors can claim 2.75% per annum on the interest cost element, capped at ₹50 lakh per MSME per year, prospectively from 20 Feb 2026. Requires valid IEC (not in DEL), valid Udyam, and a UIN per factor obtained before factoring.
Who can claim the 2.75% for HS 100590 and how?
MSMEs (as defined by Ministry of MSME) with active IEC and Udyam, factoring eligible exports of HS 100590 via RBI/IFSCA-regulated entities. File a declaration of intent on the DGFT portal to get a UIN per factor (valid till FY-end), factor the invoice, the factor files monthly IEC-wise claims; subvention is credited to your IEC-linked bank account.
Can HS 100590 be factored via GIFT City?
Yes. IBUs and Finance Companies/Finance Units undertaking factoring in GIFT City (IFSCA-regulated) are eligible financial institutions under IFSCA circular 19 Mar 2026 and must extend the 2.75% benefit. Useful for USD/EUR receivables where you want foreign-currency factoring.
What does factoring for HS 100590 cost after subvention?
Indicatively, factoring discount/interest is priced commercially (often 8–12% p.a. depending on buyer, tenor, currency) plus factoring fee ~0.5–3% ⚠️. The 2.75% offsets only the interest element — e.g. a 9% interest cost becomes ~6.25% effective on that element if eligible. Fees/insurance/FX remain. Compare all-in cost.
Related HS codes
Compare HS 100590 with other MSME-export lines in the same chapter or family.
See all codes on the HS code guides hub, or read the 2.75% subvention deep-dive.