Agricultural Export Expansion Act of 1982

Agricultural Export Expansion Act of 1982 - Amends the Agricultural Trade Development and Assistance Act of 1954 to authorize the Secretary of Agriculture to enter into agreements with private institutions and friendly countries to: (1) reduce the interest rate to four percent for credit extended for ten years in connection with farm produce export credit sales; and (2) guarantee the repayment of such credits. Authorizes using Commodity Credit Corporation funds to meet such guarantee obligations. Limits the amount of funds that may be used to reduce interest rates.

Prohibits considering food acquired through export credit sales involving agreements under this Act in determining compliance with the requirement that 75 percent of U.S. food aid be given to the countries most seriously affected by food shortages.

Directs the Secretary to obtain commitments from purchasers that will prevent the use of farm produce acquired through export credit sales involving agreements under this Act for purposes other than domestic purposes.

Provides that the cargo preference laws shall not apply to export credit sales involving agreements under this Act.