NoL84/20 OfficialJournaloftheEuropeanCommunities1.4.77
COMMISSION REGULATION (EEC)No668/77
of31March1977
fixingtheexportrefundonoliveoil
THECOMMISSION OFTHEEUROPEAN
COMMUNITIES ,
HavingregardtotheTreatyestablishingtheEuropean
EconomicCommunity ,
HavingregardtoCouncilRegulationNo136/66/EEC
of22September1966ontheestablishment ofa
commonorganization ofthemarketinoilsand
fats('),aslastamendedbyRegulation (EEC)No
1707/73(2),
HavingregardtoCouncilRegulationNo162/66/EEC
of27October1966ontradeinoilsandfatsbetween
theCommunityandGreece(3),
HavingregardtoCouncilRegulationNo171/67/EEC
of27June1967onexportrefundsandleviesonolive
oil(4),aslastamendedbyRegulation (EEC)No
2429/72(5),andinparticularthefirstsentenceof
Article7thereof,
HavingregardtotheopinionoftheMonetary
Committee ,
WhereasArticle18ofRegulationNo136/66/EEC
providesthat,wherepriceswithintheCommunityare
higherthanworldmarketprices,thedifference
betweenthesepricesmaybecoveredbyarefund
whenoliveoilisexportedtothirdcountries ;
WhereasArticle8ofRegulationNo162/66/EEC
providesthatArticle18ofRegulationNo136/
66/EECandthemeasurestakeninapplicationthereof
apply,subjecttotheprovisionsoftheAgreementesta­
blishinganAssociationbetweentheEuropean
EconomicCommunityandGreece,totradebetween
theCommunityandGreece;
Whereastherulesandotherprovisionsforfixingand
grantingexportrefundsonoliveoilarecontainedin
RegulationsNo171/67/EECand(EEC)No616/72(*),
asamendedbyRegulation (EEC)No503/76(7);
WhereasArticle2ofRegulationNo171/67/EEC
providesthattherefundmustbethesameforthe
wholeCommunity ;
WhereasArticle3ofRegulationNo171/67/EEC
providesthatwhentherefundonoliveoilisbeing
fixedaccountmustbetakenof:—theexistingsituationandthefuturetrendwith
regardtopricesandavailabilitiesofoliveoilon
theCommunitymarketandpricesforoliveoilon
theworldmarket;
—theaimsofthecommonorganization ofthe
marketinoliveoilwhicharetoensureequili­
briumandthenaturaldevelopment ofpricesand
tradeonthismarket;
—theneedtoavoiddisturbancesontheCommunity
market;and
—theeconomicaspectoftheproposedexports;
Whereas,furthermore ,Article4ofRegulationNo
171/67/EECprovidesthatthesaidrefundmustbe
fixedinaccordancewiththefollowingcriteria:
—oliveoilpricesinthemainproducingareasofthe
Community ;
—themostfavourablequotationsrecordedonthe
variousmarketsofimportingthirdcountriesand
Greece;and
—marketingcostsandthemostfavourabletransport
chargesfromCommunitymarketsinthemain
producingareastoportsorotherpointsofexport
intheCommunity ,aswellascostsincurredin
placingthegoodsontheworldmarket;
WhereasArticle5ofRegulationNo171/67/EEC
providesthattherefundonoliveoilmaybevaried
accordingtodestinationwheretheworldmarketsitua­
tionorthespecificrequirements ofcertainmarkets
makethisnecessary;
WhereasArticle7ofRegulationNo171/67/EEC
providesthattherefundmustbefixedatleastonce
everymonth;whereasitmay,ifnecessary,bealtered
intheinterveningperiod;
Whereasitfollowsfromapplyingthese-rulesand
otherprovisionstothepresentsituationonthe
marketinoliveoilandinparticulartooliveoilprices
withintheCommunityandonthemarketsofthird
countriesandGreecethattherefundshouldbefixed
attheamountsshownintheAnnextothisRegula­
tion;')OJNo172,30.9.1966,p.?02V66.
-')OJNoL17<»,29.6.197?,p.<5.
')OJNo197,29.10.1966,n.$m/66.
4)OJNo1W,28.6.1967,p.2600/67.
s)O)No1.264,2\.II.1972,p.I.
h)OJNoL78,?|.?.1972,p.I.
7)OJNoL.S9,6.V1976,p.26.

1.4.77 OfficialJournaloftheEuropeanCommunitiesNoL84/21
HASADOPTEDTHISREGULATION : Whereas,iftherefundsystemistooperatenormally,
refundsshouldbecalculatedonthefollowingbasis:
—inthecaseofcurrencieswhicharemaintainedin
relationtoeachother,atanygivenmoment,
withinabandof2-25%,arateofexchangebased
ontheireffectiveparity;
—forothercurrenciesanexchangeratebasedonthe
arithmeticmeanofthespotmarketratesofeach
ofthesecurrenciesrecordedforagivenperiod,in
relationtotheCommunitycurrenciesreferredto
intheprevioussubparagraph ;
WhereasthemeasuresprovidedforinthisRegulation
areinaccordancewiththeopinionoftheManage­
mentCommitteeforOilsandFats,Article1
TherefundsontheproductslistedinArticle1(2)(c)
ofRegulationNo136/66/EEC,exportedtothirdcoun­
triesandGreece,areherebyfixedasshowninthe
AnnextothisRegulation .
Artic/c2
ThisRegulationshallenterintoforceon1April
1977.
ThisRegulationshallbebindinginitsentiretyanddirectlyapplicableinallMember
States.
DoneatBrussels,31March1977.
FortheCommission
FinnGUNDELACH
Via-President
ANNl:A
Refundapplicabletooliveoilfrom1April1977
(ll.il./ICC
CCTheadingNo Descriptionot^ooils Ri-iuncl
1.5.07 Fixedvegetableoils,fluidorsolid,crude,refinedorpurified :
A
1Oliveoil:
Havingundergonearefiningprocess:
a)Obtainedbyrefiningvirginoliveoil,whetherornotblendedwithvirginoliveoil:
Inimmediatepackingsofanetcapacityof"ikgorless:
—destinationsmentionedinArticle3ofCommission Regulation (EEC)No
I92/75(')aswellasonexporttoEuropeanthirdcountriesexcludingGreeceand
thirdcountriesontheMediterranean 4-00
—onexporttootherthirdcountriesexcludingGreece,Europeanthirdcountriesand
thirdcountriesontheMediterranean 7-00
II Other:
f)Virginoliveoil:
InimmediatepackingsofanetcapacityofSkgorless:
—destinationsmentionedinArticleiofCommissionRegulation (EEC)No192/75
aswellasonexporttoEuropeanthirdcountriesexcludingGreeceandthirdcoun­
triesontheMediterranen 4-00
—onexporttootherthirdcountriesexcludingGreece,Europeanthirdcountriesand
thirdcountriesontheMediterranean 7-00
l!)OlNo[.2\rI.14\p.I