Massive Palay Procurement Drive
Letter of Instructions No. 1243, issued by President Ferdinand E. Marcos on May 21, 1982, mandates a massive procurement drive for palay (unmilled rice) in the Philippines. The National Food Authority is directed to purchase approximately 15% of total palay production at a support price to benefit farmers during the main harvest. An Executive Committee is tasked with implementing a comprehensive procurement program, while the Central Bank is responsible for arranging necessary credit lines from various banks. Additionally, the Ministry of Agriculture and the National Food Authority will work to establish procurement agreements with organized farmers' groups to enhance market access.
Law Information
- Reference Number
- Letter of Instructions No. 1243
- Date Enacted
- Category
- Presidential Issuances
- Subcategory
- Letters of Instructions
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
May 21, 1982
LETTER OF INSTRUCTIONS NO. 1243
| TO | : | Executive Committee |
| Ministry of Agriculture | ||
| National Food Authority | ||
| Central Bank of the Philippines | ||
| All Concerned | ||
| SUBJECT | : | Massive Palay Procurement Drive |
I, FERDINAND E. MARCOS, by the powers vested in me by the Constitution do hereby order the following:
1. The National Food Authority shall procure about 15% of total palay production at the mandated support price in order to create an attractive market for farmers especially during the main harvest.
2. The Executive Committee shall draw up and implement in time for the 1982 main harvest together with the National Food Authority and the Ministry of Agriculture, a comprehensive procurement program complete with the necessary logistics, credit and infrastructure to achieve the foregoing objective.
3. The Central Bank Governor shall determine and arrange for such credit lines as may be necessary for this massive procurement drive from the Philippine National Bank, Land Bank, Development Bank of the Philippines and private commercial banks.
4. The Ministry of Agriculture and the National Food Authority shall draw up a concrete program to accelerate the procurement tie-up with organized farmers' group with the objective of supplying as much of the total amount procured possible under this marketing arrangement.
DONE in the City of Manila, this 21st day of May, Nineteen Hundred and Eighty-Two.
Cite This Law
Massive Palay Procurement Drive, Letter of Instructions No. 1243, May 21, 1982 (Philippines)
Massive Palay Procurement Drive, Letter of Instructions No. 1243 (Phil. 1982)
Related Laws
- Guidelines Governing Palay and Rice Procurement and TradingLetter of Instructions No. 79 • May 25, 1973 • Presidential Issuances
- Release of P300 Million to NGA for Its Palay, Corn and Feed Grains Procurement ProgramLetter of Instructions No. 78 • May 25, 1973 • Presidential Issuances
- Increasing the Support Price for PalayLetter of Instructions No. 127 • Sep 13, 1973 • Presidential Issuances
- Additional Financing for the National Grains Authority to Support Farm Prices of PalayLetter of Instructions No. 904 • Mar 28, 1979 • Presidential Issuances
- Increase in the Price Support for Palay and CorngrainsLetter of Instructions No. 1147 • May 25, 1981 • Presidential Issuances
- Financing of Grains Quedan or Warehouse ReceiptsLetter of Instructions No. 704 • Jun 9, 1978 • Presidential Issuances
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