COMMISSION REGULATION (EC) No 7/98 of 6 January 1998 fixing, for December 1997, the specific agricultural conversion rate for the amount of the reimbursement of storage costs in the sugar sector
Date: 1998-01-06
Institutions: European Commission
Subjects: agri-monetary policy, redemption, representative rate, storage cost, sugar

7. 1. 98

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EN

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Official Journal of the European Communities

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COMMISSION REGULATION (EC) No 7/98

of 6 January 1998

fixing, for December 1997, the specific agricultural conversion rate for the
amount of the reimbursement of storage costs in the sugar sector

THE COMMISSION OF THE EUROPEAN COMMUNITIES,

Having regard to the Treaty establishing the European
Community,

Having regard to Council Regulation (EEC) No 1785/81
of 30 June 1981 on the common organization of the
markets in the sugar sector (1), as last amended by Regula-
tion (EC) No 1599/96 (2),

Having regard to Council Regulation (EEC) No 3813/92
of 28 December 1992 on the unit of account and the
conversion rates to be applied for the purposes of the
common agricultural policy (3), as last amended by Regu-
lation (EC) No 150/95 (4),

regard

to Commission Regulation

(EEC)
Having
No 1713/93 of 30 July 1993 establishing special detailed
rules for applying the agricultural conversion rate in the
sugar
last amended by Regulation (EC)
No 59/97 (6), and in particular Article 1 (3) thereof,

sector (5), as

Whereas Article 1 (2) of Regulation (EEC) No 1713/93
provides that the amount of the reimbursement of storage
costs
referred to in Article 8 of Regulation (EEC)
No 1785/81 is to be converted into national currency
using a specific agricultural conversion rate equal to the
average, calculated pro rata temporis, of the agricultural

conversion rates applicable during the month of storage;
whereas that specific rate must be fixed each month for
the previous month;

Whereas application of these provisions will lead to the
fixing, for December 1997, of the specific agricultural
conversion rate for the amount of the reimbursement of
storage costs in the various national currencies as indi-
cated in the Annex to this Regulation,

HAS ADOPTED THIS REGULATION:

Article 1

The specific agricultural conversion rate to be used to
convert the amount of the reimbursement of storage costs
referred to in Article 8 of Regulation (EEC) No 1785/81
into each of the national currencies for December 1997
shall be as indicated in the Annex hereto.

Article 2

This Regulation shall enter into force on 7 January 1998.

It shall apply with effect from 1 December 1997.

This Regulation shall be binding in its entirety and directly applicable in all Member
States.

Done at Brussels, 6 January 1998.

For the Commission

Franz FISCHLER

Member of the Commission

(1) OJ L 177, 1. 7. 1981, p. 4.
(2) OJ L 206, 16. 8. 1996, p. 43.
(3) OJ L 387, 31. 12. 1992, p. 1.
(4) OJ L 22, 31. 1. 1995, p. 1.
(5) OJ L 159, 1. 7. 1993, p. 94.
(6) OJ L 14, 17. 1. 1997, p. 25.

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Official Journal of the European Communities

7. 1. 98

ANNEX

to the Commission Regulation of 6 January 1998 fixing, for December 1997, the specific
agricultural conversion rate for the amount of the reimbursement of storage costs in the
sugar sector

Agricultural conversion rates

ECU 1 = 40,9321
7,54917
1,98243

312,011
167,153

6,68769
0,759189

1 973,93

2,23273
13,9485
200,321

6,02811
8,65258
0,695735

Belgian and Luxembourg francs
Danish kroner
German marks
Greek drachmas
Spanish pesetas
French francs
Irish pound
Italian lire
Dutch guilders
Austrian schillings
Portuguese escudos
Finnish marks
Swedish kroner
Pound sterling