Amending Certain Provisions Of Presidential Decree No. 1841 And Creating A Coconut Reserve Fund
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Amending Certain Provisions Of Presidential Decree No. 1841 And Creating A Coconut Reserve Fund
Presidential Decree No. 1842
January 16, 1982
Case Overview and Summary
Summary of Presidential Decree No. 1842Coconut Industry Stabilization Fund (Section 1):
- Copra exporters, oil millers, refiners, desiccators, and other end-users of copra or coconut products are assessed a percentage of the prevailing copra equivalent of the world market price of coconut oil.
- The percentage assessment is based on the average percentage assessment derived in the immediately preceding quarter, as determined by the Philippine Coconut Authority.
- The assessment schedule is as follows:
• World market price of coconut oil below 20¢/lb: No assessment
• World market price of coconut oil 20-29¢/lb: 11% assessment
• World market price of coconut oil 30-34¢/lb: 12% assessment
• World market price of coconut oil 35-39¢/lb: 14% assessment
• World market price of coconut oil 40-44¢/lb: 16% assessment
• World market price of coconut oil 45-49¢/lb: 19% assessment
• World market price of coconut oil 50¢/lb and above: 23% assessment
- The assessment is collected by the Philippine Coconut Authority and constitutes the Coconut Industry Stabilization Fund.
Utilization of Coconut Industry Stabilization Fund (Section 2):
- The fund shall be utilized to support socio-economic and developmental programs for the benefit of coconut farmers and the coconut industry as a whole.
- The utilization shall be determined by the Philippine Coconut Authority, subject to the President's approval.
Coconut Reserve Fund (Section 2-A):
- A Coconut Reserve Fund is constituted from assessments in excess of P50 per 100 kilos of copra resecada or its equivalent in other coconut products.
- Disbursements from the Coconut Reserve Fund may be made only when the applicable assessment in specific percentage falls to 11% or below.
- The use and application of disbursements from the Coconut Reserve Fund shall be determined by the Philippine Coconut Authority, subject to the President's approval.
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coconut industry
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Amending Certain Provisions Of Presidential Decree No. 1841 And Creating A Coconut Reserve Fund
Presidential Decree No. 1842
•January 16, 1982
MALACAÑANGM a n i l a
PRESIDENTIAL DECREE No. 1842
AMENDING CERTAIN PROVISIONS OF PRESIDENTIAL DECREE NO. 1841 AND CREATING A COCONUT RESERVE FUND
WHEREAS, recent adverse developments in the world market situation have threatened the viability of the coconut industry and affected the livelihood of more than six million farmers and workers;
WHEREAS, in immediate response to these developments, the President created under Executive Order No. 747 dated 19 November 1981, the Special Committee on the Philippine Coconut Industry, composed of the members of Cabinet and of the Batasang Pambansa, both from the majority and minority parties, to review and reassess existing policies, practice and institutions relative to the Philippine coconut industry, which in turn created a Sub-Committee to study these matters;
WHEREAS, this Sub-Committee of the Special Committee has now submitted its recommendations to effect a more realistic system of determining the amount of assessment of coconuts and its products in order to provide urgent relief to coconut farmers while at the same time ensuring continued financial support to on-going socio-economic and developmental...
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Amends
n/a
Amended by
n/a
Tags
Executive Issuances
Presidential Decrees
coconut industry
coconut farmers
coconut products
assessment
stabilization fund
reserve fund
socio-economic programs
developmental programs
world market price
coconut oil
copra
Philippine Coconut Authority
MALACAÑANGM a n i l a
PRESIDENTIAL DECREE No. 1842
AMENDING CERTAIN PROVISIONS OF PRESIDENTIAL DECREE NO. 1841 AND CREATING A COCONUT RESERVE FUND
WHEREAS, recent adverse developments in the world market situation have threatened the viability of the coconut industry and affected the livelihood of more than six million farmers and workers;
WHEREAS, in immediate response to these developments, the President created under Executive Order No. 747 dated 19 November 1981, the Special Committee on the Philippine Coconut Industry, composed of the members of Cabinet and of the Batasang Pambansa, both from the majority and minority parties, to review and reassess existing policies, practice and institutions relative to the Philippine coconut industry, which in turn created a Sub-Committee to study these matters;
WHEREAS, this Sub-Committee of the Special Committee has now submitted its recommendations to effect a more realistic system of determining the amount of assessment of coconuts and its products in order to provide urgent relief to coconut farmers while at the same time ensuring continued financial support to on-going socio-economic and developmental...
Login to see full content