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DOCUMENTS "COM"
COM(73)1683
Vol.1973/0285

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COMMISSION OFTHEEUS.OPEAN COMMUMTIE
COM(73)1683 final
Brussels ,9October 1973
PROPOSAL FOR A
REGULATION (EEC )OFTHECOUNCIL
fixing themonthly increases inthemarket
target price ,theintervention price and the
treshold price forolive oilforthe1973/1974
marketing year
(submitted totheCouncil bytheCommission )
COM (73)1683 final

EXPLANATORY MEMORAtlDlPI
1*Article 9 Regulation Ho136/66/EECprovides that eachyear theCouncil
istofixtheamount Tjywhich themarket target price ,theintervention
price andthethreshold price forolive oilareto "beincreased each month
during thetenmonth period beginning 1January ofeach year }theamount is
to "bethe same for allthree prioes ,
2,Theamount ofthemonthly increases must take account f>tthe storage costs
and ofinterest charges wHbi .apply tothevalue ofthe oilstored .
Examination ofthese twofactors shows that storage costs andthevalue of
the oilhave increased ascompared with thefactors taken into consideration
when thepresent monthly increases were fi::ed .TheCommission believes that
these rises incosts can "beadequately offset byraising themonthly increases
from 0,67 to0,80 u«a«/lOOkg.

PROPOSAL FOR A
REGULATION (EEC )OPTHECOUNCIL
fixing themonthly increases Inthemarket target price »the intervention price
andthethreshold price forolive oilforthe1973A974 marketing .year *
THEC0U1TCIL CPTHEEUROPEAN COIEIU1HTIES ,
Having regard totheTreaty establishing theEuropean Economic Community ,-§■
Having regard toCouncil Regulation ITo136/66/eEC^^of22September 1966,on
theestablishment ofacommon organisation ofthemarket inoils' andfats ,as
(2)last amended bytheActx'ontheConditions ofAccession andthe .Adjustments
totheTreaties ;andinparticular Arbiole 9thereof ;
Having regard totheproposal from theCommission ;
Whereas under Article 9ofRegulation No136/66/EEOthemarket target price }
theintervention price andthethreshold price forolive oilmust beincreased
each month foraperiod oftenmonths beginning on1January 1974 ?whereas the­
seinoreases must bethe same forallthree prices ;
Whereas infixing these increases ,thesame foreach month ,account being $aken
ofaverage storage costs andinterest charges intheCommunity ,thestorage
costs should beestablished onthebasis ofthe cost ofstoring oilinthe
appropriate premises andofthehandling required forpreserving theoilin
good condition ;whereas theinterest charges canbecalculated ontheaverage
price ofolive oilinproduction areas ;
HAS ADOPTED THIS REGULATION :
(l)0JNo172,30.9.1966 ,p»3025/66.
(2)OJNoL73,27.3.1972 ,P.14.

.Artide 1
Forthe .1973/1974marketing year theamount' ofthemonthly increases referred
toinArfciole 9ofRegulation-No 136/66/ESCandapplicable with effect from
1January 1974 shall befixed at0,75 v.units ofaccount per100kilogrammes .
Article 2
This Regulation shall enter into foroe onthethird dayfollowing itspublica­
tion inthe Official Journal tbfltheEuropean Communities .
Kiis Regulation shall bebinding initsentirety anddirectly applicable in
all Member States .
Done at For the Council
The President .