30.1.88 OfficialJournaloftheEuropeanCommunitiesNoL26/37
COMMISSION REGULATION (EEC)No262/88
of29January1988
fixingtheexportrefundsonoliveoil
THECOMMISSION OFTHEEUROPEANCOMMUNITIES ,
HavingregardtotheTreatyestablishingtheEuropean
EconomicCommunity ,
HavingregardtotheActofAccessionofSpainand
Portugal,
HavingregardtoCouncilRegulationNo136/66/EECof
22September1966ontheestablishmentofacommon
organizationofthemarketinoilsandfats('),aslast
amendedbyRegulation(EEC)No3994/87(2),
HavingregardtoCouncilRegulation(EEC)No1650/86
of26May1986onexportrefundsandleviesonolive
oil(3),andinparticularthefirstsentenceofArticle3(1)
thereof,
HavingregardtotheopinionoftheMonetaryCommittee,
WhereasArticle20ofRegulationNo136/66/EEC
providesthat,wherepriceswithintheCommunityare
higherthanworldmarketprices,thedifferencebetween
thesepricesmaybecoveredbyarefundwhenoliveoilis
exportedtothirdcountries;
Whereasthedetailedrulesforfixingandgrantingexport
refundsonoliveoilarecontainedinRegulations (EEC)
No1650/86and(EEC)No616/72(4),aslastamendedby
Regulation(EEC)No2962/77(*);
WhereasthefirstindentofArticle2ofRegulation(EEC)
No1650/86providesthattherefundmustbethesame
forthewholeCommunity ;
Whereas,inaccordancewithArticle4ofRegulation
(EEC)No1650/86,therefundforoliveoilmustbefixed
inthelightoftheexistingsituationandoutlookinrela­
tiontooliveoilpricesandavailabilityontheCommunity
marketandoliveoilpricesontheworldmarket;
Whereas,however,wheretheworldmarketsituationis
suchthatthemostfavourableoliveoilpricescannotbe
determined,accountmaybetakenofthepriceofthe
maincompetingvegetableoilsontheworldmarketand
thedifferencerecordedbetweenthatpriceandtheprice
ofoliveoildtiringarepresentativeperiod;
Whereastheamountoftherefundmaynotexceedthe
differencebetweenthepriceofoliveoilintheCommu­
nityandthatontheworldmarket,adjusted,whereappro­priate,totakeaccountofexportcostsfortheproductson
theworldmarket;
Whereas,inaccordancewithArticle5ofRegulation
(EEC)No1650/86,itmaybedecidedthattherefund
shallbefixedbytender;
i
Whereasthetenderingprocedureshouldcoverthe
amountoftherefundandmaybelimitedtocertaincoun­
triesofdestination,quantities,qualitiesandpresenta­
tions;
WhereasthesecondindentofArticle2ofRegulation
(EEC)No1650/86providesthattherefundonoliveoil
maybevariedaccordingtodestinationwheretheworld
marketsituationorthespecificrequirementsofcertain
marketsmakethisnecessary;
WhereasArticle3(1)ofRegulation(EEC)No1650/86
providesthattherefundmustbefixedatleastonceevery
month;whereasitmay,ifnecessary,bealteredinthe
interveningperiod;
Whereasitfollowsfromapplyingthesedetailedrulesto
thepresentsituationonthemarketinoliveoilandin
particulartooliveoilpriceswithintheCommunityand
onthemarketsofthirdcountriesthattherefundshould
beassetoutintheAnnexhereto;
Whereas,followingtheintroductionofthecombined­
nomenclature byCouncilRegulation (EEC)No
2658/87(*),thenomenclatureapplicablefrom1January
1988toexportrefundsonagriculturalproductswasesta­
blishedbyRegulation(EEC)No3846/87Q;
Whereas,iftherefundsystemistooperatenormally,
refundsshouldbecalculatedonthefollowingbasis:
—inthecaseofcurrencieswhicharemaintainedinrela­
tiontoeachotheratanygivenmomentwithinaband
of2,25%,arateofexchangebasedontheircentral
rate,multipliedbythecorrectivefactorprovidedforin
thelastparagraphofArticle3(1)ofCouncilRegula­
tion(EEC)No1676/85(8),aslastamendedbyRegula­
tion(EEC)No1636/87(»);
—forothercurrencies,anexchangeratebasedonthe
arithmeticmeanofthespotmarketratesofeachof
thesecurrenciesrecordedoveragivenperiodinrela­
tiontotheCommunitycurrenciesreferredtointhe
previousindent,andtheaforesaidcoefficient;
(')OJNo172,30.9.1966,p.3025/66.
(2)OJNoL377,31.12.1987.
(3)OJNoL145,30.5.1986,p.8.
(")OJNoL78,31.3.1972,p.1.
(*)OJNoL348,30.12.1977,p.53.(«)OJNoL256,7.9.1987,p.1.0OJNoL366,24.12.1987,p.1.
(■)OJNoL164,24.6.1985,p.1.
»OJNoL153,13.6.1987,p.1.

NoL26/38 OfficialJournaloftheEuropeanCommunities 30.1.88
WhereaspursuanttoArticle275oftheActofAccession
ofSpainandPortugal,refundsmaybegrantedinthecase
ofexportstoPortugal;whereas,inthelightofthesitua­
tionandthelevelofpricesnorefundshouldbefixedin
thecaseofexportstoPortugal;HASADOPTED THISREGULATION :
Article1
TheexportrefundsontheproductslistedinArticle1(2)
(c)ofRegulationNo136/66/EECshallbeassetoutin
theAnnexhereto.
Article2
ThisRegulationshallenterintoforceon1February1988.whereasthemeasuresprovidedforinthisRegulationare
inaccordancewiththeopinionoftheManagement
CommitteeforOilsandFats,
ThisRegulationshallbebindinginitsentiretyanddirectlyapplicableinallMember
States.
DoneatBrussels,29January1988.
FortheCommission
FransANDRIESSEN
Vice-President
ANNEX
totheCommission Regulationof29January1988fixingtheexportrefundson
oliveoil
(ECU/100kg)
Productcode Amountofrefund(')
15091090100 52,50
15091090900 85,75.
15099000100 53,50
15099000900 88,75
15100090100 13,45
15100090900 44,15
(!)FordestinationsmentionedinArticle5ofCommissionRegulation(EEC)No2730/79(OJNoL317,12.12.
1979,p.1),aswellasforexportstothirdcountries.