Legal Basis and Authority
- The Memorandum Circular is promulgated under the regulatory authority of the National Tobacco Administration (NTA).
- The authority of the NTA is derived from Executive Order No. 245.
Consultative Process
- The floor price determination followed a series of consultative conferences.
- Stakeholders involved include Burley tobacco farmers and members of the Philippine Aromatic Tobacco and Development Association, Inc. (PATDA-Burley Tobacco Group).
- Additional consultations occurred in Provincial and National Tobacco Tripartite Conferences with all sectors of the tobacco industry.
Scope and Applicability
- The floor prices apply specifically to air-cured Burley leaf tobacco.
- All concerned parties, including producers, traders, and other stakeholders in the tobacco industry, are enjoined to strictly observe these prices.
Effective Period
- The price schedule takes effect during the 1995 trading season.
Administrative Issuance
- The document is issued as a Memorandum Circular by the NTA Administrator.
- Dated November 21, 1994, indicating official promulgation and adoption.
Compliance and Guidance
- The Circular serves to guide the tobacco industry in pricing practices.
- Compliance with the floor prices is mandated to ensure standardization and fair trade practices within the Burley tobacco market.