ARCHIVESHISTORIQUES
DELACOMMISSION
COLLECTION RELIEEDES
DOCUMENTS "COM"
COM(73)2056
Vol.1973/0369

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COMMISSION OSTHEEUROS-BANCOMMUNITIES
COM(73)2056 final
Brussels ,7December 1973
PROPOSAL FOR A
REGULATION (EEC )OFTHECOUNCIL
onthe formation ofabuffer stock ofolive oil
\
(submitted totheCouncil bytheCommission )
/
COM(73 )2056 final

EXPLANATORY MEMORANDUM
Duringitsmeetingof19and20November19731"k*1®CounciladoptedaResolution
inwhichitrequestedtheCommissiontopresenttoit,amongotherthings,a
proposalforaregulationwithaviewtotheestablishment ofaregulatory
stockofoliveoilfromthe1973/1974harvest.
ThisproposalisaresponsetotherequestoftheCouncil;itis"basedonthe
criteriausedbytheCouncilintheaforementioned Resolution,withcertain
additionaldetails,inparticularwithrespecttothedeadlinefortheesta­
blishmentofthestockandtheconditionsunderwhichtheoilwhichhasbeen
boughtshouldbesoldonthemarket«
FinancialIncidence.
Takingintoaccounttheforeseeabledevelpmentofmarketprices,andonthe
assumptionthattheoilwillbeputonsaleduringthe1973/1974marketingyear,
thrproposalshouldnotinvalueafinancialincidencefortheCommunity,other
thanthatoausedbyentryandexitcosts,thatis,1,300,000u.a.
Proposalsinrespectofthefinancialarrangementsshallbedetailedlater.

PROPOSAL FOR A
REGULATION (EEC )OPTHEC0U1TCIL
onthe formation ofabuffer stock ofolive oil
THE COUNCIL OFTHE EUROPEAN COMMUNITIES ,
Having regard totheTreaty establishing theEuropean Economic
Community ;
Having regard toCouncil Regulation No136/66/EEC"' "of22September
1966 ontheestablishment ofacommon organization ofthemarket
inoils andfats ,aslast amended byRegulation (EEC )No ,
andinparticular Article 12thereof ;
Having regard totheproposal from theCommission ;
Whereas Article 12ofRegulation No136/66/EECprovides that ,to
mitigate the effects ofharvest fluctuations onthebalance between
supply and demand and inthis way tostabilize consumer prices ,the
Council may require intervention agencies toform abuffer stock of
olive oil ;
Whereas inrecent years there have been considerable fluctuations in
Community olive harvests ;whereas these fluctuations have had an
adverse effect onthe olive oil market situation and onthestability
ofconsumer prices for this product ;
Whereas agood harvest isexpected forthe1973/7**marketing year ;
whereas ,inorder tocounteract effects referred toabove ,itwould
seem desirable tosetaside part ofthis year 'sharvest asabuffer
stook ofolive oilinItaly ;
Whereas intheinterests ofsound administration ,offers for sale
must relate tothetotal quantity ofoilproduced bythose making an
offer ;
Whereas ,inview ofprice levels ontheCommunity market ,thepurchase
price forthebuffer stock should befixed atalevel notexceeding
that ofthemarket target price ;
^OJNo172,30September 1966 ,p.3025/66.
OJNoL f yT)• •

Whereas ,inorder topromote theformation ofthestock ,the
subsidy onoilpurchased forthestock should bepaid atthesame
time asthepurchase price ;
Whereas provision should bemade for thebuffer stock tobedisposed
ofassoon asitbecomes apparent ,inthelight ofthemarket
situation and thelevel ofprices obtaining ,that this isnecessary ;
whereas ,inorder toencourage thestabilization ofconsumer prices ,
provision should bemade forthestock tobedisposed ofonsuch
terms aswill permit thelevel ofprices tobeasclose aspossible
tothemarket target price ;

*
-2-
HAS ADOPTED THIS REGULATION :
Article 1
TheItalian intervention agency shall ,by1March 197^,form a
buffer stock ofolive oil .
Article 2
1.The buffer stock shall consist exclusively ofolive oilproduced
inItaly during the1973/7^marketing year .
2.The total stock shall not exceed 75000 metric tons .
Article 3 •
For thepurposes offorming thebuffer stock and subject tothe
maximum tonnage specified inArticle 2(2 ),theItalian intervention
agency shall purchase onthe terms set outinArticle 5olive oil
offered toitbyproducers .
Article k
1.Aproducer offering oil totheintervention agency for the
buffer stock mayoffer only oilwhich hehasproduced himself .
His offer shall relate tothe total quantity produced .
2.All such offers shall besubmitted inwriting totheItalian
intervention agency .
The submission offer shall betreated also asanapplication for
subsidy inrespect ofthequantities offered .
Article 5
1.Thepurchase price for the oiloffered shall not exceed the
market target price ruling onthe day onwhich the oil is
delivered totheintervention agency .
2.Bywayofderogation from theprovisions ofRegulation (EEC)
No..../ 73andsubject tocompliance with theprovisions of
Article theItalian intervention agency shall when paying the
purchase price also pay toeach seller thesubsidy corresponding
tothequantity bought for thebuffer stock .
Article 6
TheMember State concerned shall take allmeasures necessary toensure
that theolive oilconstituting thebuffer stock remains ingood
condition .
Itshall inform the Commission ofthe measures taken tothat end .

fkm
Article7
Whenthemarketsituationandthelevelofpricessorequire,a
decisionshallbetakenunderArticle38ofRegulation No136/66/EEC
instructing theItalianintervention agency-toputtheoilconstituting
thebufferstockupforsaleandlayingdownthetermsforsuchsale.
Thetermsmust,inparticular ,besuchastopermitthelevelof
marketpricestobeascloseaspossibletothemarkettargetprice.
Article8
Allotherrulesfortheimplementation ofthisRegulationshallbe
adoptedinaccordancewiththeprocedureprovidedinArticle38of
Regulation No136/66/EEC.-
Article9
ThisRegulationshallenterintoforceonthethirddayfollowing .
itspublicationintheOfficialJournaloftheEuropeanCommunities .
ThisRegulationisbindinginitsentiretyanddirectlyapplicableinall
MemberSTates.
DoneatBrussels, FortheCouncil
ThePresident.