FURTHER AMENDING PRESIDENTIAL DECREE NOS. 388 AND 1192 PROVIDING FOR FREE SUGAR TRADING

WHEREAS, the operations of the Philippine Sugar Commission
(PHILSUCOM) thru its trading arm National Sugar Trading Corporation (NASUTRA) as
a single buying and selling agency have already brought about a degree of
stability in the sugar industry.

WHEREAS, while a great majority of the sugar producers have
expressed their preference to remain with NASUTRA, some have voiced their desire
to engage in free sugar trading.

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:

SECTION 1. Sec. 4(d) and (e) of Presidential Decree No. 388
as amended by Sec. 2 of the Presidential Decree No. 1192 is further amended to
read as follows:

“SEC. 4. Powers and Functions. The Commission shall
have the following powers and functions.

* * * *

(d) To act as a buying and selling agency of sugar thru its
affiliate/subsidiary for the purchase and/or marketing of sugar on a voluntary
and contractual basis in order to promote the effective merchandising of
sugar;

(e) To monitor the pricing of sugar by producers and sugar traders, and to
furnish such information to the proper governmental agencies charged with
regulation of prices.

SEC. 2. In the implementation of the new sugar trading
system, PHILSUCOM shall take such measures as may be necessary to assure
continuity of production and distribution of sugar with special regard to
availability of supply to meet the domestic requirements and international
commitments, including the importation or swap-arrangements of sugar and shall
promulgate the rules and regulations governing matters arising under the
International Agreements including entitlements of the U.S. market.

SEC. 3. Registration of Sugar Traders. PHILSUCOM shall
provide for the registration of sugar traders, and shall establish guidelines to
promote free enterprise consistent with orderly distribution of sugar as a prime
commodity and subject to safeguards against price and supply manipulations and
other unfair trade practices.

SEC. 4. Effectivity. This Decree shall take effect
immediately, but PHILSUCOM is hereby authorized to fix a cut-off date, which
date shall not be later than March 15, 1984, to provide for the adjustments that
may be necessary in the implementation of the new system.

Done in the City of Manila, this 21st day of February,, 1984.

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