NoL14/44 OfficialJournaloftheEuropeanCommunities 16.1.87
COMMISSION REGULATION (EEC)No117/87
of15January1987
fixingtheexportrefundsonmalt
fromcerealsandricethattheexportrefundshouldbe
fixedatanamountwhichwillcoverthedifference
betweenCommunitypricesandworldmarketprices;
Whereastheworldmarketsituationorthespecific
requirementsofcertainmarketsmaymakeitnecessaryto
varytherefundforcertainproductsaccordingtodestina­
tion;
Whereas,iftherefundsystemistooperatenormally,
refundsshouldbecalculatedonthefollowingbasis:
—inthecaseofcurrencieswhicharemaintainedinrela­
tiontoeachotheratanygivenmomentwithinaband
of2,25%,arateofexchangebasedontheircentral
rate,multipliedbythecorrectivefactorprovidedforin
thelastparagraphofArticle3(1)ofCouncilRegula­
tion(EEC)No1676/85(*),
—forothercurrencies,anexchangeratebasedonthe
arithmeticmeanofthespotmarketratesofeachof
thesecurrenciesrecordedforagivenperiodinrela­
tiontotheCommunitycurrenciesreferredtointhe
previousindentandtheaforesaidcoefficient;
Whereastherefundmustbefixedonceamonth;
whereasitmaybealteredintheinterveningperiod;
Whereas,pursuanttoArticle275oftheActofAccession
ofSpainandPortugal,refundsmaybegrantedinthecase
ofexportstoPortugal;whereas,inthelightofthesitua­
tionandthelevelofpricesnorefundshouldbefixedin
thecaseofexportstoPortugal;
WhereasthemeasuresprovidedforinthisRegulationare
inaccordancewiththeopinionoftheManagement
CommitteeforCereals,THECOMMISSION OFTHEEUROPEAN
COMMUNITIES ,
HavingregardtotheTreatyestablishingtheEuropean
EconomicCommunity ,
HavingregardtotheActofAccessionofSpainand
Portugal,
HavingregardtoCouncilRegulation(EEC)No2727/75
of29October1975onthecommonorganizationofthe
marketincereals('),aslastamendedbyRegulation(EEC)
No1579/86(2),andinparticularthefourthsubparagraph
ofArticle16(2)thereof,
HavingregardtotheopinionoftheMonetaryCommittee,
WhereasArticle16ofRegulation(EEC)No2727/75
providesthatthedifferencebetweenquotationsorprices
ontheworldmarketfortheproductslistedinArticle1of
thoseRegulationsandpricesforthoseproductswithin
theCommunitymaybecoveredbyanexportrefund;
WhereasArticle2ofCouncilRegulation(EEC)No
2746/75of29October1975layingdowngeneralrulesfor
grantingexportrefundsoncerealsandcriteriaforfixing
theamountofsuchrefunds(3),providesthatwhen
refundsarebeingfixedaccountmustbetakenofthe
existingsituationandthefuturetrendwithregardto
pricesandavailabilitiesofcerealsontheCommunity
marketontheonehandandpricesforcerealsandcereal
productsontheworldmarketontheother;whereasthe
sameArticleprovidesthatitisalsoimportanttoensure
equilibriumandthenaturaldevelopmentofpricesand
tradeoncerealmarketsand,furthermore ,totakeinto
accounttheeconomicaspectoftheproposedexports,and
theneedtoavoiddisturbancesontheCommunity
market;
WhereasCouncilRegulation(EEC)No2744/75of29
October1975ontheimportandexportsystemfor
productsprocessedfromcerealsandfromrice(4),aslast
amendedbyRegulation(EEC)No1588/86(*),definesthe
specificcriteriatobetakenintoaccountwhentherefund
ontheseproductsisbeingcalculated;
Whereasitfollowsfromapplyingthesedetailedrulesto
thepresentsituationonthemarketinproductsprocessedHASADOPTEDTHISREGULATION :
Article1
TheexportrefundsonmaltlistedinArticle1(d)ofRegu­
lation(EEC)No2727/75subjecttoRegulation(EEC)No
2744/75shallbeassetoutintheAnnexhereto.
TherefundonexporttoPortugalhasnotbeenfixed.
Article2
ThisRegulationshallenterintoforceon16January
1987.(■)OJNoL281,1.11.1975,p.1.
(2)OJNoL139,24.5.1986,p.29.
(3)OJNoL281,1.11.1975,p.78.
(4)OJNoL281,1.11.1975,p.65.0OJNoL139,24.5.1986,p.47. («)OJNoL164,24.6.1985,p.1.

16.1.87 OfficialJournaloftheEuropeanCommunities NoL14/45
ThisRegulationshallbebindinginitsentiretyanddirectlyapplicableinallMember
States.
DoneatBrussels,15January1987.
FortheCommission
FransANDRIESSEN
Vice-President
ANNEX
totheCommissionRegulationof15January1987fixingtheexportrefundsonmalt
(ECU/tonne)
CCTheadingNo Refund
11.07AIb) 162,26
11.07AIIb) 205,30
11.07B 239,26