GIVING INCENTIVES FOR THE PRODUCTION OF SOYBEANS, MONGO, AND SORGHUM AND OTHER PEED-GRAINS-AND/OR THEIR- SUBSTITUTES, SPECIFYING THE SUPPORT PRICES THEREFOR, AUTHORIZING THE NAT…

WHEREAS, it is imperative to increase the production of
agricultural crops with high nutritive value such as soybeans, mongo, sorghum
and other feedgrains and/or their substitutes to meet the continuously growing
demand for these commodities for both human and animal consumption;

WHEREAS, due to the increase in the cost of production of
these agricultural crops, there is a need to support farm prices at a reasonable
level to enable the farmers to realize a fair return on their investment;

WHEREAS, at present, the determination and importation of
the country’s requirements for soybeans and soybean meal are being undertaken by
private importers who dictate their prices such that farmers and consumers are
placed at a disadvantage;

WHEREAS, it is necessary for the government to directly
undertake the importation of soybeans, soybean meal mongo, sorghum and other
feedgrains and or their substitutes in order to assure adequate and continuous
supply of these commodities and to stabilize local prices thereof for the
benefit of both the farmers and consumers;

NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the
Philippines, by virtue of the power vested in me by the Constitution do hereby
decree and order and make as part of the law of the land the following:

SECTION 1. The support prices of soybeans, mongo and sorghum
shall be as follows; soybeans, P2.80/kilo; mongo, P3.20/kilo and sorghum,
P0.85/kilo.

SEC. 2. The National Grains Authority shall ensure the
strict implementation of the support prices.

SEC. 3. The National Grains Authority shall have the
authority to determine the country’s annual requirement for soybeans, soybean
meal, mongo, sorghum as well as other feedgrains and/or their substitutes, and
NGA shall import exclusively these commodities from any source abroad.

SEC. 4. The National Grains Authority shall promulgate such
rules and regulations for the effective implementation of this decree.

SEC. 5. Any violation of any provision of this decree or of the rules and
regulations to be promulgated pursuant herewith shall be punishable, upon
conviction, by imprisonment of not less than one year nor more than two years or
by a fine of not less than Four Thousand nor more than Six Thousand Pesos, or
both, at the discretion of the court.

SEC. 6. Any provision of law, order, decree, or Letter of
Instructions inconsistent with the provisions of this decree is hereby repealed
or modified accordingly.

SEC. 7. This decree shall take effect immediately.

Done in the City of Manila, this 12th day of October, in the year of Our
Lord, nineteen hundred and seventy seven.

			(Sgd.) FERDINAND E. MARCOS President of the Philippines
	By the President:
	(Sgd.) JUAN C. TUVERA
		Presidential Executive Assistant