Council Regulation (EC) No 1361/98 of 26 June 1998 fixing, for the 1998/1999 marketing year, the derived intervention prices for white sugar, the intervention price for raw sugar, the minimum prices for A and B beet, and the amount of compensation for storage costs
Date: 1998-06-26
Institutions: Council of the European Union
Subjects: financial equalisation, intervention price, minimum price, storage cost, sugar, sugar beet

30. 6. 98

EN

Official Journal of the European Communities

L 185/3

COUNCIL REGULATION (EC) No 1361/98

of 26 June 1998

fixing, for the 1998/1999 marketing year, the derived intervention prices for white
sugar, the intervention price for raw sugar, the minimum prices for A and B beet,
and the amount of compensation for storage costs

THE COUNCIL OF THE EUROPEAN UNION,

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 organisation of the
markets in the sugar sector (1), and in particular Article
3(5), Article 5(5) and Article 8(4) thereof,

Having regard to the proposal from the Commission (2),

Whereas Council Regulation (EC) No 1360/98 of 26 June
1998 fixing, for the 1998/1999 marketing year, certain
sugar prices and the standard quality of beet (3), fixed the
intervention price for white sugar at ECU 63,19 per 100
kilograms applicable for the non-deficit areas;

Whereas Article 3(1) of Regulation (EEC) No 1785/81
provides that derived intervention prices for white sugar
are to be fixed for each of the deficit areas; whereas, for
such fixing, it is appropriate that account be taken of the
regional variations in the price of sugar, which, given a
normal harvest and free movement of sugar, might be
expected to occur in the price of sugar under natural
conditions of price formation on the market;

Whereas a deficit supply situation is to be foreseen in the
the United Kingdom,
areas of production in Ireland,
Spain, Portugal and Finland;

Whereas Article 3(5) of Regulation (EEC) No 1785/81
provides that an intervention price for raw sugar shall be
fixed; whereas such price should be established on the
basis of the intervention price for white sugar;

Whereas Regulation (EC) No 1360/98 fixed the basic
price for beet at ECU 47,67 per tonne; whereas Article
5(2) of Regulation (EEC) No 1785/81 provides that the
minimum price to be fixed for A beet shall be 98 % of
the basic price of the beet and the minimum price to be
fixed for B beet shall in principle be 68 % of the said
basic price, without prejudice to Article 28(5) of that
Regulation;

Whereas Article 5 of Council Regulation (EEC) No 1358/
77 of 20 June 1977 laying down general rules for offset-
ting storage costs for sugar and repealing Regulation
(EEC) No 750/68 (4) provides that the amount of repay-

ment in the context of the compensation for storage costs
shall be fixed per month and per unit of weight, taking
account of financing costs, insurance costs and specific
storage costs; whereas, for financing costs, account should
be taken of a 4,75 % interest rate,

HAS ADOPTED THIS REGULATION:

Article 1

For the deficit areas of the Community, the derived inter-
vention price for white sugar shall be fixed, per 100
kilograms, at:

(a) ECU 64,65 for all the areas in the United Kingdom;

(b) ECU 64,65 for all the areas in Ireland;

(c) ECU 64,65 for all the areas in Portugal;

(d) ECU 64,65 for all the areas in Finland;

(e) ECU 64,88 for all the areas in Spain.

Article 2

The intervention price of raw sugar shall be ECU 52,37
for 100 kilograms.

Article 3

The minimum price for A beet applicable in the

1.
Community shall be ECU 46,72 per tonne.

Subject

2.
to Article 28(5) of Regulation (EEC) No
1785/81, the minimum price for B beet applicable in the
Community shall be ECU 32,42 per tonne.

Article 4

The amount of the reimbursement referred to in Article 8
of Regulation (EEC) No 1785/81 shall be ECU 0,38 per
month per 100 kilograms of white sugar.

Article 5

(1) OJ L 177, 1. 7. 1981, p. 4. Regulation as last amended by
Regulation (EC) No 1599/96 (OJ L 206, 16. 8. 1996, p. 43).

(2) OJ C 87, 23. 3. 1998, p. 7.
(3) See page 1 of this Official Journal.
(4) OJ L 156, 25. 6. 1977, p. 4. Regulation as last amended by
Regulation (EEC) No 3042/78 (OJ L 361, 23. 12. 1978, p. 8).

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

It shall apply for the 1998/1999 marketing year.

L 185/4

EN

Official Journal of the European Communities

30. 6. 98

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

Done at Luxembourg, 26 June 1998.

For the Council

The President

J. CUNNINGHAM