Export Priorities Act

[AI summary unavailable — showing source text] Export Priorities Act - Directs the Secretary of Agriculture, within 30 days after the beginning of the crop year for any agricultural commodity, to determine the quantity or the crop of such commodity, if any, that will be available for export and inform the Secretary of Commerce thereof, who shall publicly announce such determination. States that no agricultural commodity may be exported to any foreign country unless the person exporting has been issued a license or unless the commodity has been exempted. States that the quantity of any commodity available for export shall be allocated among foreign countries by the Secretary. Specifies the basis for determining such allocation. Provides that the Secretary may reserve not more than ten percent of a commodity for export in order to meet unexpected foreign demand resulting from natural disaster, crop failure, and changes in existing trading patterns in that commodity. Prescribes the procedures for : (1) issuance of export licenses: (2) administrative revision of quantities available for support; and (3) exports to developing countries. Confers authority on the Secretary to issue such rules or regulations as may be necessary to carr…