Title 46 — ShippingRelease 119-73not60

§55312 Determining Prevailing World Market Price

Title 46 › Subtitle Subtitle V— Merchant Marine › Part D— Promotional Programs › Chapter 553— PASSENGER AND CARGO PREFERENCES › Subchapter II— EXPORT TRANSPORTATION OF AGRICULTURAL COMMODITIES › § 55312

Last updated Apr 5, 2026|Official source

Summary

Decide the world market price for farm products using rules the Secretary of Agriculture creates. The Secretary must make those rules through formal regulations and give public notice and a chance to comment. If the price for other materials, goods, equipment, or services is needed to see whether a barter or exchange is covered by the law, the Secretary must make that price decision after consulting the heads of other relevant agencies.

Full Legal Text

Title 46, §55312

Shipping — Source: USLM XML via OLRC

(a)The prevailing world market price for agricultural commodities or their products shall be determined under this subchapter under procedures prescribed by the Secretary of Agriculture. The Secretary shall prescribe the procedures by regulation, with notice and opportunity for public comment under section 553 of title 5.

(b)If a determination of the prevailing world market price of any other type of materials, goods, equipment, or service is required to determine whether a barter or exchange transaction is subject to section 55314(b)(6) or (7) of this title, the determination shall be made by the Secretary of Agriculture in consultation with the heads of other appropriate agencies.

Legislative History

Notes & Related Subsidiaries

Historical and Revision Notes

Revised SectionSource (U.S. Code)Source (Statutes at Large) 5531246 App.:1241f(e).June 29, 1936, ch. 858, title IX, § 901b(e), as added Pub. L. 99–198, title XI, § 1142, Dec. 23, 1985, 99 Stat. 1492.

Reference

Citations & Metadata

Citation

46 U.S.C. § 55312

Title 46 — Shipping

Last Updated

Apr 5, 2026

Release point: 119-73not60