30.7.88 OfficialJournaloftheEuropeanCommunities NoL205/37
COMMISSION REGULATION (EEC)No2372/88
of29July1988
fixingtheexportrefundsonoliveoil
Whereastheamountoftherefundmaynotexceedthe
differencebetweenthepriceofoliveoilintheCommu­
nityandthatontheworldmarket,adjusted,whereappro­
priate,totakeaccountofexportcostsfortheproductson
theworldmarket;
Whereas,inaccordancewithArticle5ofRegulation
(EEC)No1650/86,itmaybedecidedthattherefund
shallbefixedbytender;
Whereasthetenderingprocedureshouldcoverthe
amountoftherefundandmaybelimitedtocertaincoun­
triesofdestination,quantities,qualitiesandpresenta­
tions:THECOMMISSION OFTHEEUROPEAN COMMUNITIES ,
HavingregardtotheTreatyestablishingtheEuropean
EconomicCommunity ,
HavingregardtotheActofAccessionofSpainand
Portugal,
HavingregardtoCouncilRegulationNo136/66/EECof
22September1966ontheestablishment ofacommon
organizationofthemarketinoilsandfats('),aslast
amendedbyRegulation(EEC)No2210/88(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)No2962/770;
WhereasthefirstindentofArticle2ofRegulation(EEC)
No1650/86providesthattherefundmustbethesame
forthewholeCommunity ;
Whereas,inaccordancewithArticle4ofRegulation
(EEC)No1650/86,therefundforoliveoilmustbefixed
inthelightoftheexistingsituationandoutlookinrela­
tiontooliveoilpricesandavailabilityontheCommunity
marketandoliveoilpricesontheworldmarket;
Whereas,however,wheretheworldmarketsituationis
suchthatthemostfavourableoliveoilpricescannotbe
determined,accountmaybetakenofthepriceofthe
maincompetingvegetableoilsontheworldmarketand
thedifferencerecordedbetweenthatpriceandtheprice
ofoliveoilduringarepresentative period;WhereasthesecondindentofArticle2ofRegulation
(EEC)No1650/86providesthattherefundonoliveoil
maybevariedaccordingtodestinationwheretheworld
marketsituationorthespecificrequirements ofcertain
marketsmakethisnecessary;
WhereasArticle3(1)ofRegulation(EEC)No1650/86
providesthattherefundmustbefixedatleastonceevery
month;whereasitmay,ifnecessary,bealteredinthe
interveningperiod;
Whereasitfollowsfromapplyingthesedetailedrulesto
thepresentsituationonthemarketinoliveoilandin
particulartooliveoilpriceswithintheCommunityand
onthemarketsofthirdcountriesthattherefundshould
beassetoutintheAnnexhereto:
Whereas,iftherefundsystemistooperatenormally,
refundsshouldbecalculatedonthefollowingbasis:
—inthecaseofcurrencieswhicharemaintainedinrela­
tiontoeachotheratanygivenmomentwithinaband
of2,25%,arateofexchangebasedontheircentral
rate,multipliedbythecorrectivefactorprovidedforin
thelastparagraphofArticle3(1)ofCouncilRegula­
tion(EEC)No1676/85(*),aslastamendedbyRegula­
tion(EEC)No1636/870;
—forothercurrencies,anexchangeratebasedonthe
arithmeticmeanofthespotmarketratesofeachof
thesecurrenciesrecordedoveragivenperiodinrela­
tiontotheCommunitycurrenciesreferredtointhe
previousindent,andtheaforesaidcoefficient; (')OJNo172,30.9.1966,p.3025/66.
(2)OJNoL197,26.7.1988,p.1.0OJNoL145,30.5.1986,p.8.
(4)OJNoL78,31.3.1972,p.1.
(1OlNoL348.30.12.1977.d.53.(*)OJNoL164,24.6.1985,p.1.0OJNoL153,13.6.1987,p.1.

NoL205/38 OfficialJournaloftheEuropeanCommunities 30.7.88
WhereaspursuanttoArticle275oftheActofAccession
ofSpainandPortugal,refundsmaybegrantedinthecase
ofexportstoPortugal;whereas,inthelightofthesitua­
tionandthelevelofpricesnorefundshouldbefixedin
thecaseofexportstoPortugal;HASADOPTEDTHISREGULATION :
Article1
TheexportrefundsontheproductslistedinArticle1(2)
(c)ofRegulationNo136/66/EECshallbeassetoutin
theAnnexhereto.
Article2
ThisRegulationshallenterintoforceon1August1988.whereasthemeasuresprovidedforinthisRegulationare
inaccordancewiththeopinionoftheManagement
CommitteeforOilsandFats,
ThisRegulationshallbebindinginitsentiretyanddirectlyapplicableinallMember
States.
DoneatBrussels,29July1988.
FortheCommission
FransANDRIESSEN
Vice-President
ANNEX
totheCommission Regulationof29July1988fixingtheexportrefundson
oliveoil
(ECU/100kg)
Productcode Amountofrefund(')
15091090100
15091090900
15099000100
15099000900
15100090100
1510009090055,44
102,85
58,35
108,00
13,50
54,50
(')FordestinationsmentionedinArticle5ofCommissionRegulation(EEC)No2730/79(OJNoL317,12.12.
1979,p.1),aswellasforexportstothirdcountries.
NB:TheproductcodesandthefootnotesaredefinedinRegulation(EEC)No3846/87asamended.