[ SRA SUGAR ORDER NO. 11, SERIES OF 2007-2008, April 16, 2008 ]
CONVERSION OF "C" SUGAR PRODUCED DURING THE MONTH OF DECEMBER 2007 TO "B" SUGAR
WHEREAS, Section 2 (B) of Executive Order No. 18, Series of 1986 mandates the SRA to establish and maintain such balanced relation between production and requirement of sugar and such marketing conditions as will ensure stabilized price levels reasonably profitable to the producers and fair to consumers;
WHEREAS, Sugar Order No. 1-B, Series of 2007-2008 dated 14 December 2007, provided for "C" or Reserve sugar allocation as usually practiced during the onset of peak production;
WHEREAS, the emerging food crisis has led to widespread speculation that encourages hoarding/stocking of staple food products including sugar, thus creating higher than usual demand such that "B" or Domestic raw sugar prices are now within the level of P1,200.00 per LKg-Bag, which price had been set as the trigger price for converting "C sugar to "B" sugar; .
WHEREAS, "C" sugar produced in December 2007 (3 weeks) totals about 34,000 metric tons;
NOW TH EREFORE, under and by virtue of the authority vested in the Sugar Regulatory Administration (SRA), the following is hereby ordered:
SECTION 1. WEEKLY CONVERSION OF "C" (RESERVE) SUGAR PRODUCED IN DECEMBER 2007 TO "B" (DOMESTIC) SUGAR.
All "C" (Reserve) sugar produced in December 2007 shall be converted to "B" (Domes i sugar according to the following schedule:
The "C" quedan permits covering the sugar subject to conversion, when surrendered to the issuing mill companies for the purpose of withdrawing the corresponding volume of sugar therefrom, shall be stamped "RECLASSIFIED AS "B" OR DOMESTIC SUGAR PURSUANT TO S.O. No. 11, SERIES OF 2007-2008" by the SPROs assigned thereat.
SECTION 2. Consistency. Other provisions of Sugar Order Nos. 1, 1-A and 1-B, Series of 2007-2008 not contrary hereto shall remain in full force and effect.
SECTION3. Separability Clause. Provisions of Sugar Orders, Circular Letters, rules and regulations contrary to or inconsistent with this Sugar Order are hereby revised, modified or revoked accordingly.
SECTION 4. Effectively. This Sugar Order shall take effect immediately.
Adopted: 16 April 2008
(SGD.) RAFAEL L. COSCOLLUELA
Administrator
WHEREAS, Sugar Order No. 1-B, Series of 2007-2008 dated 14 December 2007, provided for "C" or Reserve sugar allocation as usually practiced during the onset of peak production;
WHEREAS, the emerging food crisis has led to widespread speculation that encourages hoarding/stocking of staple food products including sugar, thus creating higher than usual demand such that "B" or Domestic raw sugar prices are now within the level of P1,200.00 per LKg-Bag, which price had been set as the trigger price for converting "C sugar to "B" sugar; .
WHEREAS, "C" sugar produced in December 2007 (3 weeks) totals about 34,000 metric tons;
NOW TH EREFORE, under and by virtue of the authority vested in the Sugar Regulatory Administration (SRA), the following is hereby ordered:
SECTION 1. WEEKLY CONVERSION OF "C" (RESERVE) SUGAR PRODUCED IN DECEMBER 2007 TO "B" (DOMESTIC) SUGAR.
All "C" (Reserve) sugar produced in December 2007 shall be converted to "B" (Domes i sugar according to the following schedule:
| L C" sugar for week ending : | Effective Conversion Date |
| December 16, 2007 | April 16, 2008 |
| December 23,2007 | April 23, 2008 |
| December 30, 2007 | April 30, 2008 |
The "C" quedan permits covering the sugar subject to conversion, when surrendered to the issuing mill companies for the purpose of withdrawing the corresponding volume of sugar therefrom, shall be stamped "RECLASSIFIED AS "B" OR DOMESTIC SUGAR PURSUANT TO S.O. No. 11, SERIES OF 2007-2008" by the SPROs assigned thereat.
SECTION 2. Consistency. Other provisions of Sugar Order Nos. 1, 1-A and 1-B, Series of 2007-2008 not contrary hereto shall remain in full force and effect.
SECTION3. Separability Clause. Provisions of Sugar Orders, Circular Letters, rules and regulations contrary to or inconsistent with this Sugar Order are hereby revised, modified or revoked accordingly.
SECTION 4. Effectively. This Sugar Order shall take effect immediately.
Adopted: 16 April 2008
BY AUTHORITY OF THE SUGAR BOARD:
Administrator