---
kind: "section"
citation: "46 U.S.C. § 55312"
title: "46"
title_heading: "Shipping"
number: "55312"
heading: "Determining prevailing world market price"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/46/55312"
units:
  - "Subtitle V — Merchant Marine"
  - "Part D — Promotional Programs"
  - "Chapter 553 — Passenger and Cargo Preferences"
  - "Subchapter II — Export Transportation of Agricultural Commodities"
---

# §55312. Determining prevailing world market price

- (a) **Agricultural Commodities and Products.—** The prevailing world market price for agricultural commodities or their products shall be determined under this subchapter under procedures prescribed by the [Secretary](/usc/46/53101.md?p=8) of Agriculture. The [Secretary](/usc/46/53101.md?p=8) shall prescribe the procedures by regulation, with notice and opportunity for public comment under [section 553 of title 5](/usc/5/553.md).
- (b) **Services and Non-Agricultural Commodities and Products.—** If a determination of the prevailing world market price of any other type of materials, goods, equipment, or service is required to determine whether a barter or exchange transaction is subject to [section 55314(b)(6)](/usc/46/55314.md?p=b-6) or (7) of this title, the determination shall be made by the [Secretary](/usc/46/53101.md?p=8) of Agriculture in consultation with the heads of other appropriate agencies.

## Source credit

(Pub. L. 109–304, § 8(c), Oct. 6, 2006, 120 Stat. 1644.)

## Notes

| Historical and Revision Notes |  |  |
| --- | --- | --- |
| Revised<br>Section | Source (U.S. Code) | Source (Statutes at Large) |
| 55312 | 46 App.:1241f(e). | June 29, 1936, ch. 858, title IX, § 901b(e), as added Pub. L. 99–198, title XI, § 1142, Dec. 23, 1985, 99 Stat. 1492. |