§7285 Commodity Credit Corporation Sales Price Restrictions

Summary

The Commodity Credit Corporation may sell any commodity it owns at whatever price the Secretary thinks will bring the largest return to the Corporation. That rule does not apply to certain kinds of sales, including sales for a new or byproduct use; sales of peanuts or oilseeds to extract oil; sales of seed or feed that won’t hurt loan programs; sales of goods that have badly deteriorated or might spoil; sales used to make a claim against someone who cheated or broke a contract; sales for export if the Corporation decides; and sales for uses other than the commodity’s main purpose. Under rules the Secretary finds in the public interest, the Corporation may also make commodities available to help people in distress in areas of the United States (including the Virgin Islands) the President has declared to be in acute distress because of unemployment or other economic causes, and in major disasters the President finds eligible under the Robert T. Stafford Disaster Relief and Emergency Assistance Act (42 U.S.C. 5121 et seq.). Except when costs are reimbursed, the Corporation will not pay more than the commodity’s cost for storage, handling, and delivery to one or more central locations in each State or area. The sale rule also does not apply when selling very small amounts or commodities whose age, location, or storage condition makes disposition necessary for efficient operations.