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(NAR) VOL. 16 NO. 2 / APRIL - JUNE 2005
[ SRA CIRCULAR LETTER NO.31, S. 2004-2005, March 29, 2005 ]
RECLASSIFICATION OF CY 2004-2005 "C" OR RESERVE SUGAR INTO "B" OR DOMESTIC SUGAR
As the production rate has now started to slow down, there is a need to increase the sugar stocks/supply in the Domestic market on a staggered basis, applying the "first-in-first-out" principle.
In view thereof, and pursuant to No.3 of Circular Letter No.23, Series of 2004-2005, the schedule of reclassification of the "C" or Reserve sugar of CY 2004-2005 into "B" or Domestic sugar is prescribed hereunder:
Week-Endings Volume Effective Date of Reclassification November 7, 14, 21, & 28 23,766 MT March 28, 2005
The "C" quedan-permits subject of reclassification shall be surrendered to the issuing mill companies when its corresponding "C" sugar (reclassified into "B" sugar) shall be withdrawn therefrom and stamped "RECLASSIFIED AS "B" OR DOMESTIC SUGAR PURSUANT TO S.O. NO.4-A, SERIES OF 2004-2005" by the SPROs assigned thereat.
This Circular Letter shall take effect immediately.
Adopted: 29 March 2005
(SGD.) JAMES C. LEDESMA
Administrator