Commission Regulation (EC) No 1843/2003 of 17 October 2003 fixing depreciation percentages to be applied when agricultural products are bought in for the 2004 financial year
Date: 2003-10-17
Institutions: European Commission
Subjects: agricultural product, devaluation, intervention buying, purchase price, selling price

18.10.2003

EN

Official Journal of the European Union

L 268/61

COMMISSION REGULATION (EC) No 1843/2003

of 17 October 2003

fixing depreciation percentages to be applied when agricultural products are bought in for the
2004 financial year

THE COMMISSION OF THE EUROPEAN COMMUNITIES,

Having regard to the Treaty establishing the European
Community,

Having regard to 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 Guar-
antee Fund, Guarantee Section (1), as last amended by Regula-
tion (EC) No 1259/96 (2), and in particular the second sentence
of Article 8(1) thereof,

Whereas:

(1)

(2)

Pursuant to Article 8 of Regulation (EEC) No 1883/78,
depreciation of agricultural products stored in public
intervention warehouses must take place when they are
bought in. The depreciation percentage must not exceed
the difference between the buying-in price and the fore-
seeable disposal price for each of these products.

Pursuant to Article 8(3) of Regulation (EEC) No 1883/
78, the Commission may restrict depreciation at the
time of buying-in to a proportion of this depreciation
percentage, but such proportion may not be less than
70 % of total depreciation. Coefficients should be fixed
for certain products for the 2004 financial year, to be
applied by the intervention agencies to the monthly
buying-in values of these products, so that the agencies
can establish the depreciation amounts.

(3)

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

HAS ADOPTED THIS REGULATION:

Article 1

1.
In respect of the products listed in the Annex, which,
having been bought in by public intervention, have entered
storage or been taken over by the intervention agencies
between 1 October 2003 and 30 September 2004, the authori-
ties shall depreciate their value to account for the difference
between the buying-in prices and the foreseeable selling prices
of the relevant products.

2.
To establish the amounts of the depreciation, the inter-
vention agencies shall apply to the values of the products
bought in every month the coefficients set out in the Annex.

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

Article 2

This Regulation shall enter into force on the day of its publica-
tion in the Official Journal of the European Union.

It shall apply from 1 October 2003.

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

Done at Brussels, 17 October 2003.

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 268/62

EN

Official Journal of the European Union

18.10.2003

ANNEX

Depreciation coefficients to be applied to the monthly buying-in values

Products

Coefficients

Breadmaking common wheat

Barley

Rye

Maize

Sorghum

Paddy rice

Alcohol

Butter

Skimmed-milk powder

Beef quarters

Boneless beef

—

—

0,20

0,10

0,10

0,40

0,65

0,45

0,20

0,25

0,25