CELEX: 31973R3414
Language: en
Date: 1973-12-11 00:00:00
Title: Regulation (EEC) No 3414/73 of the Council of 11 December 1973 on the formation of a buffer stock of olive oil

20 . 12. 73                          Official Journal of the European Communities                              No L 351 / 1
                                                             I
                                           (Acts whose publication is obligatory)
                              REGULATION (EEC) No 3414/ 73 OF THE COUNCIL
                                                  of 11 December 1973
                                   on the formation of a buffer stock of olive oil
THE COUNCIL OF THE EUROPEAN                                      Whereas, in order to encourage formation of the
COMMUNITIES,                                                     stock, the subsidy on virgin olive oil bought in for the
                                                                 stock and on olive-residue oil should, by way of dero­
Having regard to the Treaty establishing the European            gation from Council Regulation (EEC) No 3209/73 (3)
Economic Community ;                                             of 27 November 1973 on the subsidy for olive oil, be
                                                                 paid to the producer at the same time as the
Having regard to Council Regulation No 136/                      buying-in price ;
66/EEC (') of 22 September 1966 on the establish­
ment of a common organization of the market in oils              Whereas provision should be made for the buffer
and fats, as last amended by Regulation (EEC) No                 stock to be disposed of as soon as it becomes
1707/73 (2), and in particular Article 10 (2) and Article        apparent, in the light of the market situation and the
1 2 thereof ;                                                    level of prices obtaining, that this is necessary,
Having regard to the proposal from the Commission ;
                                                                 HAS ADOPTED THIS REGULATION :
Whereas Article 12 of Regulation No 136/66/EEC
provides that, to mitigate the effects of harvest fluctua­                                Article 1
tions on the balance between supply and demand and
in this way to stabilize consumer prices, the Council            A buffer stock of virgin olive oil shall be formed
may require intervention agencies to form a buffer               under the conditions laid down in Articles 2 to 5 .
stock of olive oil ;
Whereas in recent years there have been considerable                                      Article 2
fluctuations in Community olive harvests ; whereas
these fluctuations have had an adverse effect on the             1.    The    formation   of  the    buffer stock shall be
olive oil market situation and on the stability of               entrusted to the Italian intervention agency, which
cpnsumer prices for this product ;                               shall act before 1 April 1974.
Whereas a good harvest is expected for the 1973/74               2. The buffer stock shall consist exclusively of
marketing year ; whereas, in order to counteract the             virgin olive oil produced in the Community during
difficulties referred to above, it would seem desirable          the 1973/74 marketing year.
to set aside part of this year's harvest to form a buffer        3.    The total quantity of virgin olive oil bought in
stock of olive oil in the Community ;                            for the buffer stock shall not exceed 75 000 metric
                                                                 tons for the marketing year in question .
Whereas in the interests of sound administration ,
offers for sale must relate to the total quantity of . oil
produced by those making an offer ;                                                       Article 3
Whereas, in view of price levels on the Community                For the purposes of forming the buffer stock and
market, the buying-in price for the buffer stock                 subject to the maximum tonnage specified in Article
should be fixed at a level not exceeding that of the             2 (3), the Italian intervention agency shall buy in only
 market target price ;                                           virgin olive oil offered to it by producers on the terms
                                                                 set out in Article 4 .
(') OJ No 172, 30 . 9 . 1966, p. 3025/66.
(2) OJ No L 175, 29 . 6. 1973, p. 5 .                            (3) OJ No L 327, 28 . 11 . 1973 , p . 15.
 ---pagebreak--- No L 351 /2                       Official Journal of the European Communities                             20 . 12 . 73
                        Article 4                             payable on the total quantity of virgin olive oil
                                                              produced and on the quantity of olive-residue oil
1 . A producer offering virgin olive oil to the inter­        calculated in accordance with Article 13 of Regulation
vention agency for the buffer stock may offer only           (EEC) No 3423/73, the amount of the subsidy being
virgin olive oil obtained from olives which he has            reduced by 1 % .
grown himself.
His offer shall relate to the total quantity of virgin                                Article 6
olive oil produced.
                                                             The Italian intervention agency shall take all measures
The producer may however obtain authorization to              necessary to ensure that the olive oil constituting the
retain the quantity necessary for his own use.                buffer stock remains in good condition .
2. All offers shall be submitted in writing to the            It shall inform the Commission of the measures taken
Italian intervention agency by 31 March 1974 at the           to that end .
latest.
                                                                                      Article 7
The written offer shall also be considered as an appli­
cation for the subsidy provided for in Article 10 of          When the market situation and the level of prices so
Regulation No 136/66/ EEC in respect of the quanti­           require, a decision shall be taken in accordance with
ties offered .
                                                              the procedure laid down in Article 38 of Regulation
                                                              No 136/66/ EEC requiring the Italian intervention
                        Article 5                             agency to offer the oil constituting the buffer stock for
                                                              sale and laying down the terms of such sale.
1 . The buying-in price for the virgin olive oil deliv­
ered shall not exceed the market target price ruling on
                                                                                      Article 8
the day on which the oil is delivered to the interven­
tion agency.                                                  All other rules for the implementation of this Regula­
This price shall relate to virgin olive oil of standard       tion shall be adopted in accordance with the proce­
quality. For other qualities the price shall be adjusted      dure laid down in Article 38 of Regulation No 136/
                                                              66/ EEC .
by means of a scale of price increases and reductions.
2.      By way of derogation from the provisions of                                   Article 9
Regulation (EEC) No 3209/73 and subject to compli­
ance with the conditions set out in Article 4, the            This Regulation shall enter into force on the third day
Italian intervention agency shall, when paying the            following its publication in the Official Journal of
buying-in price, also pay to each seller the subsidy           the European Communities.
               This Regulation shall be binding in its entirety and directly applicable in all Member
               States .
               Done at Brussels, 11 December 1973 .
                                                                           For the Council
                                                                            The President
                                                                          lb FREDERIKSEN