NoL303/68 OfficialJournaloftheEuropeanCommunities 1.11.73
REGULATION (EEC)No2987/73OFTHECOMMISSION
of31October1973
fixingtheexportrefundonoliveoil
THECOMMISSION OFTHEEUROPEAN
COMMUNITIES ,
HavingregardtotheTreatyestablishingtheEuro­
peanEconomicCommunity ;
HavingregardtoCouncilRegulationNo136/66/
EEC(!)of22September1966ontheestablishment
ofacommonorganizationofthemarketinoilsand
fats,aslastamendedbyRegulation (EEC)No1707/
73(2);
HavingregardtoCouncilRegulationNo162/66/
EEC(3)of27October1966ontradeinoilsandfats
betweentheCommunityandGreece;
HavingregardtoCouncilRegulationNo171/67/
EEC(4)of27June1967onexportrefundsand
leviesonoliveoil,aslastamendedbyRegulation
(EEC)No2429/72(5),andinparticularthefirstsen­
tenceofArticle7thereof;
HavingregardtotheOpinionoftheMonetary
Committee ;
WhereasArticle18ofRegulationNo136/66/EEC
providesthat,wherepriceswithintheCommunity
arehigherthanworldmarketprices,thedifference
betweenthesepricesmaybecoveredbyarefund
whenoliveoilisexportedtothirdcountries;
WhereasArticle8ofRegulationNo162/66/EECpro­
videsthatArticle18ofRegulationNo136/66/EEC
andthemeasurestakeninapplicationthereofapply,
subjecttotheprovisionsoftheAgreementestablish­
inganAssociationbetweentheEuropeanEconomic
CommunityandGreece,totradebetweentheCom­
munityandGreece;
Whereastherulesandotherprovisionsforfixing
andgrantingexportrefundsonoliveoilarecon­
tainedinRegulationNo171/67/EECand(EEC)No
616/72(");
WhereasArticle2ofRegulationNo171/67/HECpro­
videsthattherefundmustbethesameforthewhole
Community ;WhereasArticle3ofRegulationNo171/67/EECpro­
videsthatwhentherefundonoliveoilisbeingfixed
accountmustbetakenof:
—theexistingsituationandthefuturetrendwith
regardtopricesandavailabilitiesofoliveoilon
theCommunitymarketandpricesforoliveoil
ontheworldmarket;
—theaimsofthecommonorganizationofthemar­
ketinoliveoilwhicharetoensureequilibrium
andthenaturaldevelopmentofpricesandtrade
onthismarket;
—theneedtoavoiddisturbances ontheCommu­
nitymarket;and
—theeconomicaspectoftheproposedexports;
Whereas,furthermore,Article4ofRegulationNo
171/67/EECprovidesthatthesaidrefundmustbe
fixedinaccordancewiththefollowingcriteria:
—oliveoilpricesinthemainproducingareasof
theCommunity ;
—themostfavourablequotationsrecordedonthe
variousmarketsofimportingthirdcountriesand
Greece;and
—marketingcostsandthemostfavourabletrans­
portchargesfromCommunitymarketsinthe
mainproducingareastoportsorotherpointsof
exportintheCommunity,aswellascostsin­
curredinplacingthegoodsontheworldmar­
ket;
WhereasArticle5ofRegulationNo171/67/EECpro­
videsthattherefundonoliveoilmaybevariedac­
cordingtodestinationwheretheworldmarketsitua­
tionorthespecificrequirementsofcertainmarkets
makethisnecessary;
WhereasArticle7ofRegulationNo171/67/EECpro­
videsthattherefundmustbefixedatleastonce
everymonth;whereasitmay,ifnecessary,bealtered
intheinterveningperiod;
Whereasitfollowsfromapplyingtheserulesand
otherprovisionstothepresentsituationonthemar­
ketinoliveoilandinparticulartooliveoilprices
withintheCommunityandonthemarketsofthird
countriesandGreecethattherefundshouldbefixed
attheamountsshownintheAnnextothisRegu­
lation;(')OJNo172,JO.9.1966,p.W2S/66.
HOJNoI.175,29.6.197J,P.S.
(»)OJNo197,29.10.1966,p.T59J/66.
(4)OJNoHO,2S.6.1967,p..2600/67.
(•)OJNoI.264,21.11.1972,p.I.
(•)OINoI.78,II.J.1972,p.1.

1.11.73 OfficialJournaloftheEuropeanCommunities NoL303/69
Whereas,iftherefundsystemistooperatenormally,
refundsshouldbecalculatedonthefollowingbasis:WhereasthemeasuresprovidedforinthisRegu­
lationareinaccordancewiththeOpinionofthe
ManagementCommitteeforOilsandFats;
HASADOPTEDTHISREGULATION :
Article1—-inthecaseofcurrencieswhicharemaintainedin
relationtoeachother,atanygivenmoment,
withinabandof2-25%>,arateofexchangebased
ontheireffectiveparity;TherefundsontheproductslistedinArticle1(2)
(c)ofRegulationNo136/66/EEC,exportedtothird
countriesandGreece,areherebyfixedasshownin
theAnnextothisRegulation .
Article2—forothercurrenciesanexchangeratebasedonthe
arithmeticmeanofthespotmarketratesofeach
ofthesecurrenciesrecordedforagivenperiod,in
relationtotheCommunitycurrenciesreferredto
intheprevioussubparagraph ;ThisRegulationshallenterintoforceon1Novem­
ber1973.
ThisRegulationshallbebindinginitsentiretyanddirectlyapplicableinallMember
States.
DoneatBrussels,31October1973.
FortheCommission
P.J.LARDINOIS
MemberoftheCommission
ANNEX
Refundinu.a./lOOkgapplicabletooliveoilfrom1November1973
CCTheadingNo Descriptionofgoods Refund
15.07 Fixedvegetableoils,fluidorsolid,crude,refinedorpurified:
A Oliveoil: .
1 Havingundergonearefiningprocess:
a)Obtainedbyrefiningvirginoliveoil,whetherornotblendedwithvirgin
oliveoil:
(1)Inimmediatepackingsofanetcapacityof5kgorless:
—onexporttoEuropeanthirdcountriesexcludingGreeceandthird
countriesontheMediterranean 3000
—onexportstootherthirdcountriesexcludingGreece,Europeanthird
countriesandthirdcountriesontheMediterranean 10-000
II Other:
a) Virginoliveoil:
(1)Inimmediatepackingsofanetcapacityof5kgorless:
—onexportstothirdcountriesexcludingGreece,Europeanthirdcountries
andthirdcountriesontheMediterranean 10-000