▁protect ive ▁pr icing ▁policy , ▁entering ▁into ▁four - year ▁term ▁contract s . ▁These ▁contract s ▁assured ▁that ▁ 5 0 ▁percent ▁of ▁export ed ▁sugar ▁would ▁be ▁sold ▁at ▁an ▁average ▁price ▁of ▁ 2 3 . 5 ▁U . S . ▁C ents ▁per ▁p ound , ▁an ▁amount ▁less er ▁than ▁the ▁prev ail ing ▁world ▁rate ▁of ▁ 3 0 ▁U . S . ▁C ents ▁per ▁p ound . ▁This ▁was ▁followed ▁by ▁the ▁government ' s ▁mon opol ization ▁of ▁the ▁sugar ▁industry . ▁ ▁Con tr ary ▁to ▁expect ations , ▁government ▁substitution ▁in ▁the ▁market ▁did ▁not ▁improve ▁the ▁industry . ▁P H IL SU COM ▁and ▁its ▁trad ing ▁subs idi ary , ▁the ▁National ▁Sug ar ▁Tr ading ▁Corporation ▁( N AS UT RA ), ▁were ▁t aint ed ▁with ▁controvers ies . ▁According ▁to ▁the ▁find ings ▁of ▁a ▁study ▁conducted ▁by ▁a ▁group ▁of ▁econom ists ▁in ▁the ▁University ▁of ▁the ▁Philippines ▁( U . P .), ▁sugar ▁produ cers ' ▁losses ▁reached ▁an ▁estimated ▁value ▁between ▁ 1 1 ▁to ▁ 1 4 ▁billion ▁Philipp ine ▁P es os ▁during ▁the ▁period ▁between ▁ 1 9 7 4 ▁and ▁ 1 9 8 3 . ▁ ▁Est ab lish ment ▁of ▁Sug ar ▁Reg ul atory ▁Administration ▁( S RA ) ▁After ▁the ▁ 1 9 8 6 ▁Revolution , ▁which ▁ou sted ▁Mar cos , ▁President ▁Cor azon ▁Aqu ino ▁immediately ▁appointed ▁Fred ▁J . ▁Eliz al