WHEREAS, one of the goals of the 2004-2010 Medium-Term Philippine development Plan is to develop new land for agribusiness to create more job opportunities and to strengthen global competitiveness;

WHEREAS, the Philippine export banana industry has gained global market strength over the years producing one of the country ™s major export products and source of jobs;

WHEREAS, LOI 58 issued on 22 February 1973, as amended by LOI 790 issued on 6 January 1979, limits the hectarage that could be planted to export banana at 26,250 hectares;

WHEREAS, the existing hectarage planted to export banana increased over the years and has exceeded the limit allowed under said LOI due to increasing global market demand;

WHEREAS, improving the country ™s global market position in the export banana industry necessitates the repeal of LOI 58 as amended.

NOW, THEREFORE, I, GLORIA MACAPAGAL-ARROYO, President of the Philippines, by virtue of the powers vested in me by law, do hereby order and direct:

SECTION 1. Letter of Instruction No. 58 (series of 1973), as amended, is hereby repealed.

SECTION 2. The Banana Industry Export Committee is hereby dissolved. Instead, the Department of Agriculture (DA) shall oversee the export banana industry, as with other crops, subject to existing land use policies and plans of the national and local governments and with due consideration to global market demand and conditions as well as social and environmental impacts of expanding banana plantation areas, among others.

SECTION 3. All presidential issuances, administrative rules and regulations, or parts thereof inconsistent with this Executive Order are hereby repealed or modified accordingly.

SECTION 4. This Executive Order shall take effect immediately upon publication in a national newspaper of general circulation.

Done in the City of Manila this 8^th day of June, in the year of Our Lord, Two Thousand and Nine.


By the President:

(Sgd.) EDUARDO R. ERMITA
Executive Secretary