§5624 Barter of Agricultural Commodities

Summary

The Secretary of Agriculture or the Commodity Credit Corporation can trade U.S. farm commodities for foreign goods under rules they set. Eligible commodities are (1) ones the Corporation got through price-support actions and (2) ones the Secretary or Corporation has in the normal course of business and can sell. The Secretary and the Corporation must encourage U.S. exporters to barter farm commodities to get needed foreign products and to grow foreign markets. They may supply commodities to help those barter deals and must give technical advice if an exporter asks. The Secretary or the Corporation may give foreign products obtained by barter to other federal agencies if they get a promise of full payment within the same fiscal year. The Corporation still has full power to buy, hold, or sell foreign materials as it needs. They must take reasonable steps to stop misuse of barter goods, such as replacing normal U.S. sales, badly upsetting world prices or trade patterns, or allowing resale to countries other than the intended recipient.