[ SRA CIRCULAR LETTER NO. 32, January 28, 1992 ]
STORAGE FEES ON RECLASSIFIED "B-1" SUGAR
Under SRA Sugar Order No. 5, dated 21 January 1992, a certain percentage of the 1991-92 sugar production has been allocated as B-1 Domestic (Reserve) sugar which may be withdrawn from mill warehouses only after the maturity dates indicated in quedan-permits covering B-1 , sugar. This means that as long as the sugar remains B-1 , the same cannot be withdrawn. Hence, no storage fee shall be imposed.
Storage charges shall commence only upon reclassification of the B-1 sugar as B ; thereafter, all sugar mills shall provide a free storage period of ninety (90) days. This means that B-1 sugar, upon becoming B , is immediately withdrawable and the free storage period starts to run. It is only upon expiration of said free storage period that storage fees can be imposed.
Adopted: 28 Jan. 1992
Storage charges shall commence only upon reclassification of the B-1 sugar as B ; thereafter, all sugar mills shall provide a free storage period of ninety (90) days. This means that B-1 sugar, upon becoming B , is immediately withdrawable and the free storage period starts to run. It is only upon expiration of said free storage period that storage fees can be imposed.
Adopted: 28 Jan. 1992
(SGD.) ARSENIO B. YULO, JR.
Administrator
Administrator