7 U.S.C. § 1641 : US Code - Section 1641: Availability of wheat for export; utilization of funds and facilities; prices; authorization of appropriations

Search 7 U.S.C. § 1641 : US Code - Section 1641: Availability of wheat for export; utilization of funds and facilities; prices; authorization of appropriations

The President is authorized, acting through the Commodity Credit
Corporation, to make available or cause to be made available,
notwithstanding the provisions of any other law, such quantities of
wheat and wheat-flour and at such prices as are necessary to
exercise the rights, obtain the benefits, and fulfill the
obligations of the United States under the International Wheat
Agreement of 1949 signed by Australia, Canada, France, the United
States, Uruguay, and certain wheat importing countries, along with
the agreements signed by the United States and certain other
countries revising and renewing such agreement of 1949 for periods
through July 31, 1965 (hereinafter collectively called the
"International Wheat Agreement"). Nothing in this chapter shall be
construed to preclude the Secretary of Agriculture, in carrying out
programs to encourage the exportation of agricultural commodities
and products thereof pursuant to section 612c of this title, from
utilizing funds available for such programs in such manner as,
either separately or jointly with the Commodity Credit Corporation,
to exercise the rights, obtain the benefits, and fulfill all or any
part of the obligations of the United States under the
International Wheat Agreement or to preclude the Commodity Credit
Corporation in otherwise carrying out wheat and wheat-flour export
programs as authorized by law. Nothing contained in this chapter
shall limit the duty of the Commodity Credit Corporation to the
maximum extent practicable consistent with the fulfillment of the
Corporation's purposes and the effective and efficient conduct of
its business to utilize the usual and customary channels,
facilities, and arrangements of trade and commerce in making
available or causing to be made available wheat and wheat-flour
under this chapter. The pricing provisions of section 1510(e) (!1)
of title 22 and section 713a-9 of title 15, shall not be applicable
to domestic wheat and wheat-flour supplied to countries which are
parties to the International Wheat Agreement and credited to their
guaranteed purchases thereunder on and after August 1, 1949, and up
to and including June 30, 1950. Where prices in excess of the
International Wheat Agreement prices have been paid for such wheat
and wheat-flour financed by the Economic Cooperation Administration
on or after August 1, 1949, and up to and including June 30, 1950,
the Secretary of Agriculture or Commodity Credit Corporation is
authorized to reimburse the Economic Cooperation Administration for
such excess amounts. Funds realized from such reimbursement shall
revert to the respective appropriation or appropriations from which
funds were expended for the procurement of such wheat and wheat-
flour. There are authorized to be appropriated such sums as may be
necessary to make payments to the Commodity Credit Corporation of
its estimated or actual net costs of carrying out its functions
hereunder. Such net costs in connection with the International
Wheat Agreement, 1959, shall include those with respect to all
transactions which qualify as commercial purchases (as defined in
such agreement) from the United States by importing member
countries. Such net costs in connection with the International
Wheat Agreement, 1962, shall include those with respect to all
transactions which qualify as commercial purchases (as defined in
such agreement) from the United States by member and provisional
member importing countries, including transactions entered into
prior to the deposit of instruments of acceptance or accession by
any of the countries involved, if the loading period is not earlier
than the date the agreement enters into force. The Commodity Credit
Corporation is authorized in carrying out its functions under this
chapter to utilize, in advance of such appropriations or payments,
any assets available to it.