Preamble
WHEREAS, the Coconut Industry has attained magnitudes that necessitate a more concerted effort at integrating the diffused efforts currently being exerted towards its development; WHEREAS, the global perspective on international fats and oil supply situation indicates a need for developing other industrial and food uses of coconut through a more purposeful and integrated research activity; WHEREAS, the present stage of the development of the coconut and other palm oils in the country is generally characterized by relatively low yields and quality that could be substantially improved given the necessary support from concomitant development activities such as research extension work, marketing and the strengthening of credit institutions; WHEREAS, the economic well-being of a major part of the population depends to a large extent on the viability of the industry and its improvement in the areas of production, processing and marketing; and WHEREAS, the industry needs an intensive, extensive and sustained foreign trade promotion effort in order that its position in markets abroad will be maintained and enhanced; NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers in me vested by the Constitution as Commander-in-Chief of all the Armed Forces of the Philippines, pursuant to Proclamation No. 1081, dated 21 September 1972, as amended by Proclamation No. 1104, dated 17 January 1973 and General Order No. 1, dated 22 September 1972, as amended, in order to effect the desired and necessary changes and reforms in the social and economic structure of our society, do hereby decree the creation of a Philippine Coconut Authority, as follows: