Preamble
WHEREAS, recent world political and economic developments have created a situation which directly or indirectly influenced the drastic decline in the prices of copra, coconut oil and their by-products; WHEREAS, the drastic decline of coconut prices has substantially eroded the income of the coconut farmers; WHEREAS, it is imperative that measures be adopted which would cushion and minimize the decline in the income of a substantial portion of the citizenry of the country; 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: