(NAR) VOL. 14 NOS. 3-4 / OCTOBER - DECEMBER 2003
WHEREAS, there is a need for the Sugar Regulatory Administration (SRA) to verify these initial reports without prejudice to the continuing issuance of the 2003-2004 consolidated "D" quedan-permits so as to make "D" sugar readily available in the event that the initial reports would turn out to be inaccurate.
WHEREAS, in a meeting, the SRA Sugar Board had agreed, pending its re-assessment of the 2003-2004 sugar production, to a moratorium on the release/delivery/transaction of 2003-2004 consolidated "D" quedan-permits;
WHEREAS, the aforesaid moratorium will enable the SRA Sugar Board to decide, after verifying and evaluating the incoming production reports, whether or not to amend/modify/revoke pertinent provisions of Sugar Orders Nos. 1 and 2, Series of 2003-2004, concerning the 4% allocation for "D" or World Market sugar, in furtherance of its objective to ensure stability of sugar prices in the domestic market at levels both beneficial to the sugar producers and consumers:
Pursuant therefore to the policy of the Sugar Regulatory Administration to undertake periodic assessments of the 2003-2004 sugar production, it is hereby ordered for a period of thirty (30) days from the date of this Circular Letter that:
Strict compliance of all concerned is hereby enjoined.
Adopted: 16 Oct. 2003
(SGD.) JAMES C. LEDESMA
Administrator