National Agricultural Product Technology Development Act of 1988

National Agricultural Product Technology Development Act of 1988 - States that the purpose of this Act is to assist applied agricultural research and development through a matching grant program in order to: (1) increase production of new commercial products from agricultural commodities; and (2) decrease agricultural production and processing costs in order to increase U.S. competitiveness and market shares.

Directs the Secretary of Agriculture to provide for the establishment of a National Agricultural Product Technology Institute as an independent entity within the Department of Agriculture. Creates the National Agricultural Product Technology Board to head the Institute. Sets forth related operating and administrative provisions.

Establishes in the Treasury the Agricultural Product Technology Fund to carry out Institute programs.

Establishes an agricultural product technology research and development program to: (1) provide three-year matching grants to private or public research or educational organizations, government agencies, and commercial entities, or any combination of such groups, for new product or cost reduction projects; and (2) establish and maintain programs of information collection and dissemination.

Requires entities receiving new product funds to agree to engage in commercial production and sale of any project-developed products.

Sets forth project funding limitations.

Authorizes appropriations.

Terminates project authority under this Act on June 30, 2000.