Agricultural Export Promotion Act of 1982

Agricultural Export Promotion Act of 1982 - Directs the Secretary of Agriculture, for FY 1983 through 1985, to: (1) enter into agreements with private trade organizations, friendly countries, and financial institutions to make payments to reduce the interest rate on loans made for up to ten years in connection with agricultural export credit sales and to guarantee the repayment of such loans; (2) implement export subsidy programs for farm products; or (3) undertake any combination of the above measures.

Directs the Secretary to implement export subsidy programs for farm products if it is determined under provisions of the Trade Act of 1974 that the product has been affected by foreign export subsidies.

Directs the Secretary to spend a specified amount for interest reduction and export subsidy payments for each of FY 1983 through 1985.

Directs the Secretary to: (1) determine the relative portion of such funds that will be used for such purposes; (2) use such funds to promote U.S. exports of farm products as appropriate to neutralize the effect of foreign subsidy programs; (3) subsidize U.S. exports of farm products as necessary to obtain the elimination of a foreign practice that could result in the substantial displacement of U.S. farm exports; (4) safeguard the usual marketing of U.S. farm produce; and (5) obtain commitments from purchasers that will prevent resale or transhipment of products acquired through export credit sales or that will prevent such products from being used for any purpose other than a domestic purpose.