Selling surplus palay and corn to N.R.C.C.

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EXECUTIVE ORDER NO. 128: Selling surplus palay and corn to N.R.C.C.

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Title Source: Supreme Court: Selling surplus palay and corn to N.R.C.C.

Law: Executive Order No. 128

Decision Date: Sep 23, 1955

Executive Order No. 128 requires government entities producing palay and corn to sell their surplus production to the National Rice and Corn Corporation, supporting price stabilization and providing support for farmers and planters in the Philippines.

Mandatory Sale of Surplus Production to NRCC

All government entities, bureaus, agencies, and instrumentalities involved in the production of palay and corn are required to sell their surplus produce.
The surplus production must be sold to the NRCC.

Pricing Mechanism

The sale of surplus palay and corn to the NRCC must be at prevailing government prices.
This ensures uniform pricing and contributes to market price stabilization.

Authority and Implementation

The order is issued by the President of the Philippines, exercising powers vested by law.
The directive applies to all government-related producers without exception.

Effective Date and Formalities

The Executive Order was promulgated in Manila on September 23, 1955.
The order bears the signature of the President and the Executive Secretary, establishing its official and binding nature.

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