FURTHER AMENDING PRESIDENTIAL DECREE NOS. 388 AND 1192 PROVIDING FOR FREE SUGAR TRADING

• Number: Presidential Decree No. 1905
• Sections: 5

Preamble

WHEREAS, the operations of the Philippine Sugar Commission

(PHILSUCOM) thru its trading arm National Sugar Trading Corporation (NASUTRA) as

a single buying and selling agency have already brought about a degree of

stability in the sugar industry.

WHEREAS, while a great majority of the sugar producers have

expressed their preference to remain with NASUTRA, some have voiced their desire

to engage in free sugar trading.

NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the

Republic of the Philippines by virtue of the powers vested in me by the

Constitution do hereby decree and order the following:

Section 1

SECTION 1. Sec. 4(d) and (e) of Presidential Decree No. 388

as amended by Sec. 2 of the Presidential Decree No. 1192 is further amended to

read as follows:

"SEC. 4. Powers and Functions. The Commission shall

have the following powers and functions.

* * * *

(d) To act as a buying and selling agency of sugar thru its

affiliate/subsidiary for the purchase and/or marketing of sugar on a voluntary

and contractual basis in order to promote the effective merchandising of

sugar;

(e) To monitor the pricing of sugar by producers and sugar traders, and to

furnish such information to the proper governmental agencies charged with

regulation of prices.

Section 2

SEC. 2. In the implementation of the new sugar trading

system, PHILSUCOM shall take such measures as may be necessary to assure

continuity of production and distribution of sugar with special regard to

availability of supply to meet the domestic requirements and international

commitments, including the importation or swap-arrangements of sugar and shall

promulgate the rules and regulations governing matters arising under the

International Agreements including entitlements of the U.S. market.

Section 3

SEC. 3. Registration of Sugar Traders. PHILSUCOM shall

provide for the registration of sugar traders, and shall establish guidelines to

promote free enterprise consistent with orderly distribution of sugar as a prime

commodity and subject to safeguards against price and supply manipulations and

other unfair trade practices.

Section 4

SEC. 4. Effectivity. This Decree shall take effect

immediately, but PHILSUCOM is hereby authorized to fix a cut-off date, which

date shall not be later than March 15, 1984, to provide for the adjustments that

may be necessary in the implementation of the new system.

Done in the City of Manila, this 21st day of February,, 1984.

(Sgd.) FERDINAND E. MARCOS

President

Republic of the Philippines

By the President:

(Sgd.)JUAN C. TUVERA

Presidential Executive Assistant