Preamble
WHEREAS, the Philippines is the leading producer and exporter of abaca fiber in the world; WHEREAS, there exists an unstable world market for abaca fiber subject to volatile price fluctuations; WHEREAS, abaca farmers are shifting to other crops in view of an unstable market for their products; WHEREAS, an orderly and stable market is necessary for the maintenance and growth of the abaca industry; WHEREAS, it is Government policy to provide adequate assistance to the agricultural sector in line with the national objective of increasing agricultural production and boosting exports; WHEREAS, the foregoing considerations make it desirable to have one agency to regulate abaca production, processing, distribution, sale, transport and storage; WHEREAS, since the abolition of the Abaca Corporation in 1970 and the abolition of the Abaca and Other Fiber Development Board in 1972, there has been no single government agency in charge of the integrated development of the abaca industry; 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 the following: