1.4.87 NoL89/18 OfficialJournaloftheEuropeanCommunities
COMMISSION REGULATION (EEC)No920/87
of31March1987
fixingtheexportrefundsonoliveoil
THECOMMISSION OFTHEEUROPEAN COMMUNITIES ,
HavingregardtotheTreatyestablishingtheEuropean
EconomicCommunity ,
HavingregardtotheActofAccessionofSpainand
Portugal,
HavingregardtoCouncilRegulationNo136/66/EECof
22September1966ontheestablishment ofacommon
organizationofthemarketinoilsandfats('),aslast
amendedbyRegulation(EEC)No1454/86(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,accountmaybetakenofthepriceofthemaincompetingvegetableoilsontheworldmarketand
thedifferencerecordedbetweenthatpriceandtheprice
ofoliveoilduringarepresentative period;
Whereastheamountoftherefundmaynotexceedthe
differencebetweenthepriceofoliveoilintheCommu­
nityandthatontheworldmarket,adjusted,whereappro­
priate,totakeaccountofexportcostsfortheproductson
theworldmarket;
Whereas,inaccordancewithArticle5ofRegulation
(EEC)No1650/86,itmaybedecidedthattherefund
shallbefixedbytender;
Whereasthetenderingprocedureshouldcoverthe
amountoftherefundandmaybelimitedtocertaincoun­
triesofdestination,quantities,qualitiesandpresenta­
tions;
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{%
—forothercurrencies,anexchangeratebasedonthe
arithmeticmeanofthespotmarketratesofeachof
thesecurrenciesrecordedoveragivenperiodinrela­
tiontotheCommunitycurrenciesreferredtointhe
previousindent,andtheaforesaidcoefficient;(')OJNo172,30.9.1966,p.3025/66.0OJNoL133,21.5.1986,p.6.
(3)OJNoL145,30.5.1986,p.8.
(4)OJNoL78,31.3.1972,p.1.4OJNoL348,30.12.1977,p.53. (*)OJNoL164,24.6.1985,p.1.

1.4.87 OfficialJournaloftheEuropeanCommunities NoL89/19
Whereas,pursuanttoArticle275oftheActofAccession
ofSpainandPortugal,refundsmaybegrantedinthecase
ofexportstoPortugal;whereas,inthelightofthesitua­
tionandthelevelofpricesnorefundshouldbefixedin
thecaseofexportstoPortugal;HASADOPTEDTHISREGULATION :
Article1
TheexportrefundsontheproductslistedinArticle1(2)
(c)ofRegulationNo136/66/EECshallbeassetoutin
theAnnexhereto.
Article2
ThisRegulationshallenterintoforceon1April1987.WhereasthemeasuresprovidedforinthisRegulationare
inaccordancewiththeopinionoftheManagement
CommitteeforOilsandFats,
ThisRegulationshallbebindinginitsentiretyanddirectlyapplicableinallMember
States.
DoneatBrussels,31March1987.
FortheCommission
FransANDRIESSEN
Vice-President
ANNEX
totheCommission Regulationof31March1987fixingtheexportrefundson
oliveoil
(ECU/100kg)
CCTheadingNo Description Refund
15.07
A
I
(a)
II
(a)
(b)Fixedvegetableoils,fluidorsolid,crude,refinedorpurified:
Oliveoil:
Untreated :
Virginoliveoil:
Inimmediatepackingsofanetcapacityof5litresorless,fordestinationsmentionedin
Article5ofCommissionRegulation(EEC)No2730/79('),aswellasonexporttothirdcoun­
tries ^
Other:
Obtainedbyprocessingoilsfallingwithinsubheading 15.07AIa)or15.07AIb),whetheror
notblendedwithvirginoliveoil:
Inimmediatepackingsofanetcapacityof5litresorless,fordestinationsmentionedin
Article5ofRegulation(EEC)No2730/79,aswellasonexporttothirdcountries
Other:
Obtainedbyprocessingoilsfallingwithinsubheading15.07AIc),whetherornotblended
withvirginoliveoil:
Inimmediatepackingsofanetcapacityof5litresorless,fordestinationsmentionedin
Article5ofRegulation(EEC)No2730/79,aswellasonexporttothirdcountries43,00
43,00
7,00
(')OJNoL317,12.12.1979,p.1.