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PRESIDENTIAL DECREE NO. 920
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PRESIDENTIAL DECREE NO. 920 -
AMENDING Section 1 OF PRESIDENTIAL DECREE NO. 897 FIXING MINIMUM PRICES
OF LOCALLY GROWN VIRGINIA LEAF TOBACCO, TO PROVIDE FOR NEW MINIMUM
PRICES THEREOF
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WHEREAS,
after further studies, it has been established that the existing
minimum prices of locally produced Virginia leaf tobacco as set forth
in Presidential Decree No. 897 are by present standards still
inadequate, considering the high cost of production; chanroblesvirtualawlibrary
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines by
virtue of the powers vested in me by the Constitution, do hereby decree
and order as follows:cralaw:red
Section 1. Section 1 of Presidential Decree No. 897
is hereby amended to read as follows:cralaw:red
"Sec. 1. Beginning with the tobacco trading year
1976, no person, corporation, partnership or association shall buy
locally grown Virginia leaf tobacco at prices lower than the following:cralaw:red
GRADE A — P8.00
per kilogram
GRADE B —
7.50 per kilogram
GRADE C —
7.00 per kilogram
GRADE D —
6.50 per kilogram
GRADE E —
6.00 per kilogram
The description of each grade shall be determined by the Philippine
Virginia Tobacco Administration.
Section 2. This Decree shall take effect immediately.
Done in the City of Manila,
this 5th day of April, in the year of Our Lord, nineteen hundred and
seventy-six.
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