Food Aid and Export Market Promotion Act

Food Aid and Export Market Promotion Act - Requires the Commodity Credit Corporation (CCC) to make a specified minimum amount of credit guarantees available to finance export sales of farm commodities.

Amends the Agricultural Trade Development and Assistance Act of 1954 to increase the annual authorized appropriations to carry out famine relief programs (title II of such Act).

Amends the Agricultural Act of 1949 to authorize the donation of CCC stocks of dairy products and other agricultural commodities for the assistance of needy persons outside the United States. (Current law authorizes the donation only of CCC stocks of dairy products.) Requires that the proceeds of the sale or barter of such dairy products or commodities shall be used exclusively to facilitate providing assistance to such needy people.

Requires the CCC to make available a specified minimum amount of financing during FY 1984 and 1985 for export sales of breeding animals and for the establishment of facilities in the importing nation for handling agricultural commodities.

Amends the Food for Peace Act of 1966 to authorize the CCC to finance or guarantee export sales of agricultural commodities out of CCC and private stocks. Requires that repayment of such financing shall be in dollars with interest at a rate determined by the Secretary of Agriculture.

Requires the General Accounting Office, within 120 days of enactment of this Act, to report to Congress on the effectiveness and adequacy of U.S. food aid programs.