Page:United States Statutes at Large Volume 96 Part 2.djvu/1322

 96 STAT. 2684

PROCLAMATION 4887—DEC. 23, 1981

raw sugar for the 20 consecutive market days immediately preceding the 20th day of the month preceding the calendar quarter dxiring which the fee shall be applicable (as reported by the New York Coffee, Sugar and Cocoa Exchange or, if such quotations are not being reported, by the International Sugar Organization), expressed in United States cents per pound, Caribbean ports, in bulk, adjusted to a United States delivered basis by adding applicable duty and attributed costs, is less than the applicable market stabilization price: Provided, That whenever the average of such daily spot price quotations for 10 consecutive market days within any calendar quarter, adjusted to a United States delivered basis as provided herein, plus the fee then in effect (1) exceeds the market stabilization price by more than one cent, the fee then in effect shall be decreased by one cent, or (2) is less than the market stabilization price by more than one cent, the fee then in effect shall be increased by one cent: Provided further, That the fee may not be greater than 50 per centum of the average of such daily spot price quotations for raw sugar. (iii) The market stabilization price for the first, second, and third calendar quarters of 1982 shall be 19.0800 cents per poimd. The market stabilization price that shall be apphcable to each subsequent fiscal year shall be determined and announced by the Secretary of Agriculture (hereafter the "Secretary") in accordance with this headnote no later than 30 days prior to the beginning of the fiscal year for which such market stabilization price shall be applicable. The market stabilization price shall be equal to the sum of: (1) the price support level for the applicable fiscal year, expressed in cents per pound of raw cane sugar; (2) adjusted average transportation costs; (3) interest costs, if applicable; (4) an amount adequate to compensate for the estimated value of duty reductions to be granted under the Generalized System of Preferences on imported raw cane sugar, as determined by the Secretary and (5) 0.2 cents. The adjusted average transportation costs shall be the weighted average cost of handling and transporting domestically produced raw cane sugar from Florida to Atlantic Coast ports north of Cape Hatteras, as determined by the Secretary. Interest costs shall be the amount of interest that would be required to be paid by a recipient of a price support loan for raw cane sugar upon repayment of the loan at full maturity. Interest costs shall only be applicable if a price support loan recipient is not required to pay interest upon forfeiture of the loan collateral.

•M

(iv) Attributed costs for the first, second, and third calendar quarters of 1982 shall be 1.5032 cents per pound of imported raw cane sugar. The attributed costs that shall be applicable to each subsequent fiscal year shall be determined and announced by the Secretary in accordance with this headnote no later than 30 days prior to the beginning of the fiscal year for which such attributed costs shall be applicable. Attributed costs shall be equal to the simi of the costs, as estimated by the Secretary, of freight, insurance, stevedoring, financing, weighing, sampling, and International Sugar Agreement fees which are attributable to the importation of raw cane sugar from Caribbean ports. (v) The Secretary shall determine the amount of the quarterly fees in accordance with this headnote and shall announce such fees not later than the 25th day of the month preceding the calendar quarter during which the fees shall be applicable. The Secretary shall certify the amount of such fees to the Secretary of the Treasury and file notice thereof with the Federal Register prior to the beginning of the calendar quarter during which the fees . shall be applicable. The Secretary shall determine and announce any adjustment in the fees made within a calendar quarter in accordance with the first proviso of paragraph (ii) hereof, shall certify such adjusted fees to the

�