Section 1. The importation of roasted coffee beans, roasted ground coffee, instant or soluble coffee in powder form, extract or concentrate in liquid form or finished coffee products in any form, raw coffee beans of the robusta, excelsa and liberica varieties, is hereby prohibited: Provided, however, That the importation of raw coffee beans of the arabica variety shall be gradually reduced as follows: starting with and during the year nineteen hundred and sixty, only seventy-five per cent of the nineteen hundred and fifty-nine foreign exchange allocation of bona fide and legitimate coffee roasters shall be allowed; on the second year (nineteen hundred and sixty-one), fifty per cent; on the third year (nineteen hundred and sixty-two), twenty-five per cent; on the fourth year (nineteen hundred and sixty-three), ten per cent; and on the fifth year (nineteen hundred and sixty-four), complete banning: Provided, further, That in case of shortage of locally produced arabica coffee, the President of the Philippines, upon recommendation of the Secretary of Agriculture and Natural Resources and the Chairman of the National Economic Council, may authorize the importation of the necessary quantity of raw arabica coffee beans to supplement the shortage.