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Revised Definition of U.S. Agricultural Commodity for Commercial Export Programs

farm-program · Commodity Credit Corporation · Rule · Published 1997-05-06 · Effective 1997-06-05 · 62 FR 24560

Document

Document number
97-11693
Federal Register citation
62 FR 24560
CFR reference
7 CFR 1493
Type
Rule
Action
Final rule.
Category
farm-program
Sub-agency
Commodity Credit Corporation
Publication date
1997-05-06
Effective date
1997-06-05

Abstract

The Commodity Credit Corporation (CCC) is amending its commercial export program regulations to change the definition of the term ``U.S. agricultural commodity.'' These changes are to conform the applicable regulations with a provision of the Federal Agriculture Improvement and Reform Act of 1996. This final rule is applicable to the Export Enhancement Program (EEP), the Dairy Export Incentive Program (DEIP), CCC's Export Credit Guarantee Program (GSM-102), CCC's Intermediate Export Credit Guarantee Program (GSM-103), and the Supplier Credit Guarantee Program (SCGP). The revised definition contains two subparagraphs. The first subparagraph is similar to the current definition of U.S. agricultural commodity. The second subparagraph applies only to a product of an agricultural commodity that the Secretary designates as a high value product. Under the applicable statute and the revised definition, if this designation is made, to qualify as a U.S. agricultural commodity 90 percent or more of the agricultural components of the product (by weight, excluding packaging and water) must be entirely produced in the United States.

Source

Authoritative
Federal Register document
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