WHEREAS, it is imperative to increase the production of agricultural crops with high nutritive value such as soybeans, mongo, sorghum and other feedgrains and/or their substitutes to meet the continuously growing demand for these commodities for both human and animal consumption;

WHEREAS, due to the increase in the cost of production of these agricultural crops, there is a need to support farm prices at a reasonable level to enable the farmers to realize a fair return on their investment;

WHEREAS, at present, the determination and importation of the country's requirements for soybeans and soybean meal are being undertaken by private importers who dictate their prices such that farmers and consumers are placed at a disadvantage;

WHEREAS, it is necessary for the government to directly undertake the importation of soybeans, soybean meal mongo, sorghum and other feedgrains and or their substitutes in order to assure adequate and continuous supply of these commodities and to stabilize local prices thereof for the benefit of both the farmers and consumers;

NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the power vested in me by the Constitution do hereby decree and order and make as part of the law of the land the following:

SECTION 1. The support prices of soybeans, mongo and sorghum shall be as follows; soybeans, P2.80/kilo; mongo, P3.20/kilo and sorghum, P0.85/kilo.

SEC. 2. The National Grains Authority shall ensure the strict implementation of the support prices.

SEC. 3. The National Grains Authority shall have the authority to determine the country's annual requirement for soybeans, soybean meal, mongo, sorghum as well as other feedgrains and/or their substitutes, and NGA shall import exclusively these commodities from any source abroad.

SEC. 4. The National Grains Authority shall promulgate such rules and regulations for the effective implementation of this decree.

SEC. 5. Any violation of any provision of this decree or of the rules and regulations to be promulgated pursuant herewith shall be punishable, upon conviction, by imprisonment of not less than one year nor more than two years or by a fine of not less than Four Thousand nor more than Six Thousand Pesos, or both, at the discretion of the court.

SEC. 6. Any provision of law, order, decree, or Letter of Instructions inconsistent with the provisions of this decree is hereby repealed or modified accordingly.

SEC. 7. This decree shall take effect immediately.

Done in the City of Manila, this 12th day of October, in the year of Our Lord, nineteen hundred and seventy seven.

			(Sgd.) FERDINAND E. MARCOS President of the Philippines
	By the President:
	(Sgd.) JUAN C. TUVERA
		Presidential Executive Assistant