Section 2
SEC. 2. Purposes and Objectives.-The PHILSUGIN shall have the following purposes and objectives: To conduct research work for the sugar industry in all its phases, either agricultural or industrial, for the purpose of introducing into the sugar industry such practices or processes that will reduce the cost of production, increase and improve the industrialization of the byproducts of sugar cane, and achieve greater efficiency in the industry; To improve existing methods of raising sugar cane and of sugar manufacturing; To insure a permanent, sufficient and balanced production of sugar and its by-products for local consumption and exportation; To establish and maintain such balanced relation between production and consumption of sugar and its by products, and such marketing conditions therefor, as will insure stabilized prices at a level sufficient to cover the cost of production plus a reasonable profit; To promote the effective merchandising of sugar and its by-products in the domestic and foreign markets so that those engaged in the sugar industry will be placed on a basis of economic security; and To improve the living and economic conditions of laborers engaged in the sugar industry by the gradual and effective correction of the inequalities existing in the industry.