[ 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a certain percentage of the 1991-92 sugar production has been allocated as œB-1  Domestic (Reserve) sugar which may be withdrawn from mill warehouses only after the maturity dates indicated in quedan-permits covering œB-1 , sugar.  This means that as long as the sugar remains œB-1 , the same cannot be withdrawn.  Hence, no storage fee shall be imposed.

Storage charges shall commence only upon reclassification of the œB-1  sugar as œB ; thereafter, all sugar mills shall provide a free storage period of ninety (90) days.  This means that œB-1  sugar, upon becoming œB , 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