Importation of 300,000 MT of Corn
Memorandum Order No. 444, issued on September 8, 1997, authorizes the National Food Authority (NFA) to import 300,000 metric tons of corn to address a projected supply shortage in the 1997/1998 crop year. The Department of Finance is directed to waive the difference between the out-quota and in-quota import duties, allowing the importation at a reduced tariff rate of 35%. The tariff proceeds from this importation will be allocated to the Agricultural Competitiveness Enhancement Fund (CEF), as established under Republic Act 8178, to support the agriculture sector's growth and competitiveness. The implementation of this order is effective immediately.
Quick Answers
- What is Importation of 300,000 MT of Corn about?
- Memorandum Order No. 444, issued on September 8, 1997, authorizes the National Food Authority (NFA) to import 300,000 metric tons of corn to address a projected supply shortage in the 1997/1998 crop year. The Department of Finance is directed to waive the difference between the out-quota and in-quota import duties, allowing the importation at a reduced tariff rate of 35%. The tariff proceeds from this importation will be allocated to the Agricultural Competitiveness Enhancement Fund (CEF), as established under Republic Act 8178, to support the agriculture sector's growth and competitiveness. The implementation of this order is effective immediately.
- What type of law is Memorandum Order No. 444?
- Importation of 300,000 MT of Corn (Memorandum Order No. 444) is a Philippine Presidential Issuances enacted by the Congress of the Philippines.
- When was Importation of 300,000 MT of Corn enacted?
- Importation of 300,000 MT of Corn (Memorandum Order No. 444) was enacted on Sep 8, 1997.
- What is the citation for Importation of 300,000 MT of Corn?
- Importation of 300,000 MT of Corn, Memorandum Order No. 444, Sep 8, 1997 (Philippines)
Law Information
- Reference Number
- Memorandum Order No. 444
- Date Enacted
- Category
- Presidential Issuances
- Subcategory
- Memorandum Orders
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
September 8, 1997
MEMORANDUM ORDER NO. 444
GRANTING AUTHORITY TO THE NATIONAL FOOD AUTHORITY TO IMPORT 300,000 METRIC TONS OF CORN AND INSTRUCTING THE DEPARTMENT OF FINANCE TO WAIVE THE DIFFERENCE BETWEEN THE OUT-QUOTA AND THE IN-QUOTA IMPORT DUTIES FOR THE SAID IMPORTATION. ALLOWING SUCH VOLUMES TO BE IMPORTED AT A 35% TARIFF, AND TO EARMARK THE TARIFF PROCEEDS FROM SUCH IMPORTATION AS PART OF THE AGRICULTURAL COMPETITIVENESS ENHANCEMENT FUND (CEF) CREATED UNDER REPUBLIC ACT 8178
The National Food Authority (NFA) is hereby granted authority to import 300,000 MT of corn. This importation will ensure that enough supply of feed is available in the face of the projected shortage in corn in cropyear 1997/1998, estimated by the Bureau of Agricultural Statistics to reach 1.4 million metric tons, therefore allowing the livestock industry to continue playing a vital role in the growth of the agriculture sector.
The NFA is also instructed to allocate this volume in accordance with existing rules and regulations governing the allocation of import quotas.
The Department of Finance is likewise instructed to waive the difference between the 80% out-quota tariff and the 35% in-quota tariff for corn, allowing the NFA to import the 300,000 MT authorized in this memorandum order at the tariff rate of 35%. This is in consideration of the need to ensure that feeds are available at affordable costs to the livestock industry.
The Department of Finance is furthermore instructed to earmark the tariff proceeds accruing from this importation as part of the Agricultural Competitiveness Enhancement Fund (CEF) created under Republic Act 8178. This will enhance the capability of government to help the agriculture sector become viable, efficient, and globally competitive.
This Memorandum Order shall take effect immediately.
DONE in the City of Manila, this 8th day of September, in the year of Our Lord, Nineteen Hundred and Ninety-Seven.
Cite This Law
Importation of 300,000 MT of Corn, Memorandum Order No. 444, Sep 8, 1997 (Philippines)
Importation of 300,000 MT of Corn, Memorandum Order No. 444 (Phil. 1997)
Related Laws
- Authorizing the National Food Authority to Import 300,000 Metric Tons of Corn Duty-FreeMemorandum Order No. 468 • Mar 17, 1998 • Presidential Issuances
- Importation of 300,000 Metric Tons of RiceLetter of Instructions No. 55-A • Feb 15, 1973 • Presidential Issuances
- Grant of Subsidy to the Iron and Steel Authority for Importation of TinplatesLetter of Instructions No. 787 • Dec 22, 1978 • Presidential Issuances
- Approval and Effectivity of the Sixth Investment Priorities Plan and Fourth Export Priorities PlanLetter of Instructions No. 66 • Mar 22, 1973 • Presidential Issuances
- Grant of Government Subsidy to National Steel Corporation for Importation of TinplatesLetter of Instructions No. 989 • Feb 16, 1980 • Presidential Issuances
- Increasing the Support Price for Corn Grains and Fixing Ceiling Price for CornLetter of Instructions No. 165 • Feb 20, 1974 • Presidential Issuances
Browse More Presidential Issuances
Explore other laws in the Presidential Issuances category.
View All Presidential IssuancesNeed Help Understanding This Law?
Ask our AI assistant to explain provisions, implications, or related laws.
Ask AI About This Law