A bill to amend the Commodity Credit Corporation Act to promote the exchange of materials produced abroad and needed in the United States for agricultural commodities produced in and exported from the United States through normal commercial trade channels.

Summary

Amends the Commodity Credit Corporation Charter Act to authorize the Corporation to buy strategic and critical materials and petroleum products produced abroad in exchange for U.S. farm commodity exports. Requires the purchase program to be conducted so that it: (1) safeguards existing export markets for farm commodities; (2) encourages development of new export markets for U.S. farm commodities; and (3) provides exporters of farm products with firm commitments on items the Corporation will buy in order to facilitate the negotiation of commercial barter contracts. Requires strategic and critical materials purchased by the Corporation by commercial barter to be transferred to the stockpile established by the Strategic and Critical Materials Stock Piling Act. Requires petroleum products purchased by the Corporation by commercial barter to be transferred to the Strategic Petroleum Reserve. Directs the Administrator of General Services and the Secretary of Energy to cooperate with the Secretary of Agriculture and the Corporation in implementing the barter program. Authorizes the Corporation to promote barter agreements between persons involved in commerce which exchange approved materials produced abroad for U.S. farm commodity exports. Sets forth within the general powers of the Corporation the power to accept petroleum products produced abroad in exchange for farm commodities.

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1 official file

• Introduced in House

  summary · EN · 9 February 1982

  Open at official source

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