Surplus Agricultural Commodity Law and Legal Definition

Pursuant to 22 USCS § 2403 (l) [Title 22. Foreign Relations And Intercourse; Chapter 32. Foreign Assistance; General And Administrative Provisions; Miscellaneous Provisions], the term surplus agricultural commodity means “any agricultural commodity or product thereof, class, kind, type, or other specification thereof, produced in the United States, either publicly or privately owned, which is in excess of domestic requirements, adequate carryover, and anticipated exports for United States dollars, as determined by the Secretary of Agriculture.”