Pursuant to the powers vested in me by Section 515 of Republic Act No. 1937, as amended by Presidential Decree No. 230, I, FERDINAND E. MARCOS, President of the Philippines, do hereby direct and order that:

SECTION 1.

In addition to the export duties, herein referred to as basic rate, levied under Section 514, Title III, Book I of R.A. No. 1937, as amended by P.D. No. 230, there shall be levied assessed and collected a premium duty on the difference between the current price as established by the Bureau of Customs and the base price of the products as established in Section II hereof in accordance with the following schedule:

Export Products	Premium Duty
WOOD PRODUCTS
(1) Logs, including poles	30%
(2) Lumber	20%
(3) Veneer, face and core	20%
(4) Plywood	20%
MINERAL PRODUCTS
(1) Metallic ores and concentrates
(a) Copper	30%
(b) Iron	20%
(c) Chromite	20%
(2) Non-metallic
(a) Clinker, cement	20%
(b) Portland cement	20%
PLANT AND VEGETABLE PRODUCTS
(1) Coconut
(a) Copra	30%
(b) Desiccated coconut	20%
(c) Copra meal or cake	20%
(d) Coconut oil	20%
(2) Sugar and sugar products
(a) Centrifugal sugar	20%
(b) Molasses	20%

Should the current price of any export product be below the established base price, then only the basic rate prescribed under P.D. No. 230 shall be applied.

SECTION 2. Initially, the base prices upon which the premium duty shall be levied shall be eighty per centum (80%) of the F.O.B. value of the exports established by the Bureau of Customs for February 1974. The National Economic and Development Authority shall, from time to time, review and establish such base prices taking into account, among others, the cost conditions in the various industries.

SECTION 3. This Order shall take effect immediately.

Done in the City of Manila, this 17th day of February, in the year of Our Lord, nineteen hundred and seventy-four.


By the President:

(SGD.) ALEJANDRO MELCHOR
Executive Secretary