Commission Regulation (EC) No 2587/98 of 1 December 1998 fixing, for November 1998, the specific agricultural conversion rate for the amount of the reimbursement of storage costs in the sugar sector
Date: 1998-12-01
Institutions: European Commission
Subjects: EU Member State, agri-monetary policy, redemption, representative rate, storage cost, sugar

L 324/18

EN

Official Journal of the European Communities

2. 12. 98

COMMISSION REGULATION (EC) No 2587/98

of 1 December 1998

fixing, for November 1998, 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 organisation of the
markets in the sugar sector (1), as last amended by Regula-
tion (EC) No 1148/98 (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),

Having regard to Commission Regulation (EEC) No
1713/93 of 30 June 1993 establishing special detailed
rules for applying the agricultural conversion rate in the
sugar sector (5), as last amended by Regulation (EC) No
59/97 (6), and in particular Article 1(3) thereof,

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 conver-

sion 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 November 1998, 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 November 1998
shall be as indicated in the Annex hereto.

Article 2

This Regulation shall enter into force on 2 December
1998.

It shall apply with effect from 1 November 1998.

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

Done at Brussels, 1 December 1998.

For the Commission

Franz FISCHLER

Member of the Commission

(1) OJ L 177, 1. 7. 1981, p. 4.
(2) OJ L 159, 3. 6. 1998, p. 38.
(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.

2. 12. 98

EN

Official Journal of the European Communities

L 324/19

ANNEX

to the Commission Regulation of 1 December 1998 fixing, for November 1998, 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

7,56225
1,98391

338,319
168,336

6,68769
0,796521

1 973,93

2,23593

13,9576

203,183

6,02811
9,35538
0,698159

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