Preamble
WHEREAS, the current worldwide shortage of sugar has brought about an increasingly speculative interest in sugar which has further induced uncertainty in its price especially in the world market; WHEREAS, the uncertain fluctuations in the price of sugar will expose the export of sugar to risky speculation which will depress prices adversely affecting the profitability of the sugar industry and the foreign exchange earnings of the country; WHEREAS, in the interest of the national objective to promote public welfare, the government should take a direct and active role to protect the sugar industry and our national economy from the deleterious effects of speculative ventures with respect to sugar; NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers in me vested by the Constitution, do hereby decree and order: