Commission Regulation (EC) No 1206/98 of 10 June 1998 fixing depreciation percentages to be applied when agricultural products are bought in, for the 1999 financial year
Date: 1998-06-10
Institutions: European Commission
Subjects: agricultural product, devaluation, intervention buying, purchase price, ratio, selling price

11. 6. 98

EN

Official Journal of the European Communities

L 166/35

COMMISSION REGULATION (EC) No 1206/98

of 10 June 1998

fixing depreciation percentages to be applied when agricultural products are
bought in, for the 1999 financial year

THE COMMISSION OF THE EUROPEAN COMMUNITIES,

HAS ADOPTED THIS REGULATION:

Having regard to the Treaty establishing the European
Community,

Having regard to the Council Regulation (EEC) No 1883/
78 of 2 August 1978 laying down general rules for the
financing of interventions by the European Agricultural
Guidance and Guarantee Fund, Guarantee Section (1), as
last amended by Regulation (EC) No 1259/96 (2), and in
particular Article 8 thereof,

Whereas, pursuant to Article 8 of Regulation (EEC) No
1883/78, systematic depreciation of public intervention
agricultural products must
take place when they are
bought in; whereas accordingly the Commission deter-
mines
the depreciation percentage for each product
concerned before the beginning of each year; whereas
such percentage shall not exceed the difference between
the buying-in price and the foreseeable disposal price for
each of these products;

Whereas, pursuant to Article 8(3) of Regulation (EEC) No
1883/78, the Commission may, at its discretion, restrict
depreciation at the time of buying in to a proportion of
this depreciation percentage, but such proportion may not
be less than 70 %; whereas, coefficients to be applied also
for the 1999 financial year by the intervention agencies to
the monthly buying-in values of products should be fixed,
to enable the agencies to establish the depreciation
amounts;

Whereas the measures provided for in this Regulation are
in accordance with the opinion of
the EAGGF
Committee,

Article 1

In respect of the products listed in the Annex, which,
in by public intervention have
having been bought
entered store or been taken over by the intervention agen-
cies between 1 October 1998 and 30 September 1999, the
authorities shall depreciate their value to account for the
difference between the buying-in prices and the foresee-
able selling prices of the relevant products.

Article 2

To establish the amount of the depreciation, the interven-
tion agencies shall apply to the values of the products
bought in every month the coefficients set out in the
Annex.

The expenditure amounts determined in this way shall be
notified to the Commission under the declarations estab-
lished pursuant to Commission Regulation (EC) No 296/
96 (3).

Article 3

This Regulation shall enter into force on the seventh day
following its publication in the Official Journal of the
European Communities.

It shall apply from 1 October 1998 onwards.

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

Done at Brussels, 10 June 1998.

For the Commission

Franz FISCHLER

Member of the Commission

(1) OJ L 216, 5. 8. 1978, p. 1.
(2) OJ L 163, 2. 7. 1996, p. 10.

(3) OJ L 39, 17. 2. 1996, p. 5.

L 166/36

EN

Official Journal of the European Communities

11. 6. 98

ANNEX

‘k' depreciation coefficients (Article 8(3) of Regulation (EEC) No 1883/78) to be applied to the
monthly buying-in values

Products

Breadmaking common wheat

Durum wheat

Barley

Rye

Maize

Sorghum

Paddy rice

Olive oil

Butter

Skimmed-milk powder

Beef

Alcohol as referred to in Article 40(1) of Council Regulation (EEC) No 822/87 (1)

(1) OJ L 84, 27. 3. 1987, p. 1.

k

0,03

0,00

0,10

0,25

0,11

0,11

0,20

0,15

0,50

0,45

0,55

0,70