AMENDING SECTION 1 OF PRESIDENTIAL DECREE NO. 897 FIXING MINIMUM PRICES OF LOCALLY GROWN VIRGINIA LEAF TOBACCO, TO PROVIDE FOR NEW MINIMUM PRICES THEREOF.

• Number: Presidential Decree No. 920
• Sections: 3

Preamble

WHEREAS, after further studies, it has been established at

the existing minimum prices of locally produced Virginia leaf

tobacco as set forth in Presidential Decree No. 897 are by present

standards still inadequate, considering the high cost of production;

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

Philippines, by virtue of the powers vested in me by the Constitution,

do hereby decree and order as follows:

Section 1

SECTION 1. Section 1 of Presidential Decree No. 897 is

hereby amended to read as follows:

"SEC. 1. Beginning with the tobacco trading year 1976, no

person, corporation, partnership or association shall buy locally grown

Virginia loaf tobacco at prices lower than the following:

GRADE A

P8.00 per kilogram

GRADE B

7.50 per kilogram

GRADE C

7.00 per kilogram

GRADE D

6.50 per kilogram

GRADE E

6.00 per kilogram

The description of each grade shall be determined by the

Philippine Virginia Tobacco Administration.

Section 2

SEC. 2. This Decree shall take effect

immediately.

Done in the City of Manila, this 5th day of April, in the year

of Our Lord, nineteen hundred and seventy-six.

(Sgd.)

FERDINAND E. MARCOS

President

Republic of the Philippines

By the President:

(Sgd.)

JACOBO C. CLAVE

Presidential Executive Assistant