Granting Authority To The National Economic And Development Authority To Set Minimum Prices Of Coconut Oil, Copra And Other Coconut Products And By Products
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Granting Authority To The National Economic And Development Authority To Set Minimum Prices Of Coconut Oil, Copra And Other Coconut Products And By Products
Presidential Decree No. 527
August 2, 1974
Case Overview and Summary
Summary of Presidential Decree No. 527Authority of the National Economic and Development Authority (NEDA)
- NEDA can set minimum prices for:
- Copra and other coconut products purchased from coconut farmers (Section 1)
- Export prices for copra, coconut oil, and other coconut products and by-products (Section 1)
- NEDA can consider cost of production, transportation, marketing, and other relevant factors (Section 1)
Export Prohibition
- NEDA can prohibit export of copra, coconut oil, and other coconut products and by-products below the minimum export prices set by NEDA (Section 2)
Export Licenses and Permits
- Government agencies and instrumentalities, including the Central Bank of the Philippines, the Philippine Coconut Authority, and the Bureau of Customs, shall not issue export licenses and permits for copra, coconut oil, and other coconut products and by-products below the minimum export prices set by NEDA (Section 3)
Rules and Regulations
- NEDA is authorized to issue rules and regulations necessary to implement the provisions of this Decree (Section 4)
Penalties
- Violation of this Decree or NEDA's rules and regulations shall be punished by:
- Fine of not more than ₱20,000 and/or
- Imprisonment of not more than 5 years (Section 5)
- For corporations, partnerships, associations, or companies, the President, Manager, Administrator, or person in charge shall be criminally responsible (Section 5)
Revocation or Amendment
- Any provision of law in conflict with this Decree is revoked or amended accordingly (Section 6)
Effectivity
- This Decree shall take effect immediately (Section 7)
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Law
Granting Authority To The National Economic And Development Authority To Set Minimum Prices Of Coconut Oil, Copra And Other Coconut Products And By Products
Presidential Decree No. 527
•August 2, 1974
MALACAÑANGM a n i l a
PRESIDENTIAL DECREE No. 527 August 2, 1974
GRANTING AUTHORITY TO THE NATIONAL ECONOMIC AND DEVELOPMENT AUTHORITY TO SET MINIMUM PRICES OF COCONUT OIL, COPRA AND OTHER COCONUT PRODUCTS AND BY PRODUCTS
WHEREAS, the economic well-being of a major part of the population depends to a large extent on the viability of the coconut industry and its improvement in the area of production and marketing;
WHEREAS, to protect coconut farmers, there is a need to regulate and/or fix the minimum prices at which copra and other coconut products and by-products may be purchased from coconut farmers, as well as minimum export prices for copra, coconut oil and other coconut products and by-products.
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers in me vested by the Constitution, do hereby order and decree as follows:
Section 1. That the National Economic and Development Authority, motu proprio or upon recommendation of the Philippine Coconut Authority, may fix the minimum prices that may be paid to coconut...
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