Presidential Decree No. 527 (PD 527) — Granting Authority to the National Economic and Development Authority to Get Minimum Prices of Coconut Oil, Copra and Other Coconut Producers and By-Products.
WHEREAS, the economic well-being of a major part of the
population depends to a large extent on the viability of the coconut
industry and its improvement in the area of production and marketing;
WHEREAS, to protect coconut farmers, there is a need to
regulate and/or fix the minimum prices at which copra and other coconut
products and by-products may be purchased from coconut oil and other
coconut products and by-products.
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the
Philippines, by virtue of the powers in me vested by the Constitution,
do hereby order and decree as follows:
SECTION 1. That the National Economic and Development
Authority, motu proprio or upon recommendation of the Philippine
Coconut Authority, may fix the minimum prices that may be paid coconut
farmers for copra and other products, as well as minimum export prices
for copra, coconut oil and other coconut products and by-products
whenever the national interest so requires taking into consideration
cost of production, transportation, marketing and other relevant
factors.
SEC. 2. That the National Economic and Development Authority
is hereby authorized to prohibit the export from the Philippines of
copra, coconut oil and other coconut products and by-products at prices
below the minimum export prices that be fixed in accordance with the
provision of the preceding section.
SEC. 3. That Government agencies and instrumentalities,
including the Central Bank of the Philippines, the Philippine Coconut
Authority and the Bureau of Customs shall not issue export licenses and
permits for the export of copra, coconut oil and other coconut products
and by-products at prices below the minimum export prices, that may be
fixed by the National Economic and Development Authority pursuant to the
authority granted in Section 1 hereof.
SEC. 4. That the National Economic and Development Authority
is hereby authorized to issue rules and regulations necessary to
implement the provisions of this Decree.
SEC. 5. That any person who shall violate the provisions of
this Decree and any rule or regulation that may be issued by the
National Economic and Development Authority pursuant to the authority
granted in the preceding section shall, upon conviction, be punished by a
fine of not more than twenty thousand pesos (P20,000.00) and/or by
imprisonment of not more than five years: Provided, That in the
case of corporations, partnerships, associations or companies the
President, Manager or Administrator or the person who has charge of the
administration of the business shall be criminally responsible for any
violation of this Decree or of the rules and regulations that may be
promulgated by the National Economic and Development Authority pursuant
to the authority in the next preceding section.
SEC. 6. Any provision of law in conflict herewith is revoked
or amended accordingly.
SEC. 7. This Decree shall take effect immediately.
Done in the City of Manila this 2nd day of August, in the year of
Our Lord, nineteen hundred and seventy-four.
(Sgd.)
FERDINAND E. MARCOS
President of the Philippines
By the President:
(Sgd.)
ALEJANDRO MELCHOR
Executive Secretary
Source: Supreme Court E-Library, Republic of the Philippines. Philippine laws are public documents (works of the government).
