CELEX: 51980PC0761
Language: en
Date: 1980-11-26
Title: Proposal for a COUNCIL REGULATION (EEC) relating to the financing by the EAGGF Guarantee Section of certain intervention measures, particularly those involving the buying-in, storage and sale of agricultural products by intervention agencies (submitted to the Council by the Commission)

ARCHIVES HISTORIQUES
DE LA COMMISSION
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DOCUMENTS "COM"
COM (80) 761
Vol. 1980/0237
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 ---pagebreak---   COMMISSION OF THE EUROPEAN COMMUNITIES
                                                  COM(80)761 final
                                    r-            Brussels , 26 November 1980
                                Proposal for a
                             COUNCIL REGULATION ( EEC )
     relating to the financing by the EAGGF Guarantee Section of certain
     intervention measures , particularly those involving the buying-in ,
     storage and sale of agricultural products by intervention agencies
               ( submitted to the Council by the Commission )
C0M(80 ) 761 final
 ---pagebreak---        proposed Council Regulation relating to the financing
                                                                                »
       by the EAGGF Guarantee Section of certain intervention
       measures , particularly those involving the buying-in ,
       storage and sale of agricultural products by intervention
       agenci es
                             EXPLANATORY MEMORANDUM                         '
1.     Intervention measures involving the purchase , storage and disposal of
agricultural products by intervention agencies ( public storage ) are complex
operations which , under the Community rules governing the common organizations
of markets , are controlled by Member States . The definitive arrangements for "
the financing of the CAP , as set out in Regulation ( EEC ) No 729/ 70 have ,
partly because of their complexity , temporarely extended the financing rules
governing public storage as laid down in the ' financing regulations concerning
intervention on the various sectors . Over the .years , these regulations have been
amended on a number of occasions to take account of changes in the -various market
measures .                                                - •  •
2.     In 1978, the Council adopted Regulation ( EEC ) No 1883 / 78 on the general
rules for the financing of interventions . This Regulations sets out certain
basic rules for the financing of expenditure arising from public storage and in
Article 4(3 ) requires the Council , acting on a proposal from the Commission ,
to adopt more detailed rules and condi tioris , . parti cular ly with regard to the^
annual accounts to be drawn up by the intervention agencies .
3.   . The present proposal contains these rules and conditions', which are
largely based on those included in the various financing regulations for
specific sectors , but brings them together . in a single regulation, and harmonizes
them as much as possible . To this extent the proposal is a consolidating
regulation . However , th.e experience gained in recent years make it possible
to introduce in legal form certain rules which give added guidance , with
particular reference to the . responsibi lity for keeping products in good condition
for example the financial rules to be
 ---pagebreak--- applied when bought-in produces deteriorate ,     '.t is also proposed that certain
special rules concerning individual, products be adapted so that specific
situations which arise can be taken into account more fully .
4.     Article 4(3 ) of Regulation ( EEC ) No 1883 / 78 also requires that where
the items to be taken into account for the purpose of financing have not
been determined within the framework of a common organization of the market ,
these must be fixed . The reference is to costs       entailed by the free
distribution of agricultural products withdrawn from the market . Because
the items are technical ones , namely transport costs , the proposal is for
the maintenance of standardrate financing for the expenditure , and that the
Commission should determine the standard amounts after consulting the EAGGF
                                                    ♦                »
Committee . This is the procedure also proposed for the other standard
amounts .
 ---pagebreak---          Proposal for a Council Regulation relating to the financing
         by the EAGGF Guarantee Section of certain intervention measures , .
         particularly those involving the buying-in , storage and sale of
         agricultural products by intervention agencies                     t
  THE COUNCIL OF THE EUROPEAN . COMMUNITIES ,             •
• Having regard to' the Treaty establishing the European Economic Community ,
  Having regard to Council Regulation ( EEC ) No 1883 / 78 of 2 August 1978 , laying
  down general rules for the financing of intervention by the European Agri-
                                                                     1
  cultural Guidance and Guarantee Fund , Guarantee Section , as amended by
                                 2
  Regulation ( EEC ) No 249 / 80 , and in particular Article 4(3 ) thereof .
                                                       ...                      \
  Having regard to Council Regulation ( EEC )^ No 729 / 70 of 21 April 1970 on the
                                             ; .   3        ; . : -    ... _•
  financing of the common agricultural policy , as last amended byN Council-
  Regulation ( EEC ) No 929 /794,
  Having regard -to the proposal from the Commission ,
  Whereas Article 4(3 ) of Regulation ( EEC ) No 1883 / 78 requires that the rules
  and conditions governing the annual " accounts referred to in Article 4(1 ) of
  that Regulation should be determined in respect of intervention measures .
  entailing the buying-in and storage of agricultural products by the inter­
 vention agencies ; . .                              '
  Whereas the various headings to .. be included on the debit and credit sides of
  the annual accounts should be specified ;       whereas , for this purpose , the
  principal headings appearing in the Regulations governing the financing of
  intervention expenditure in the various sectors should be retained;- but be
  brought together in a single Regulation and in accordance with a standard
  account valid for all sectors,' due regard being had to such special features
  as may arise for each of^them ;      '                                             .
  Whereas , under the agricultural Regulations , intervention agencies 1auy-in .
  products offered for intervention ;     whereas rules are needed with regard to
  the responsibility for ttie condition of stored products . and financing rules -
  are needed covering quantity loss , deterioration of products , transport of
  products offered for intervention and amounts recovered from sellers , pur­
  chasers and storers ;                         .                . '
   0J No L 216 , 5.8.1978 , p.1
  20J No L 28, 5.2.1980, p.1
  30J No L 94 , 28.4.1970, p. 13                        .
  40J No L 117 , 1 2 .5 . 1979, p.4 -                              '               '
 ---pagebreak--- Whereas in accordance wi*h Arti e 4(3) of Regulation ( EEC ) No 1883/78, in-
respect of intervention measures other than those entailing purchase and
storage, the items to be taken into account for the purposes of financing
should be determined where these have not been determined within the frame­
work of a common organization of the market ; whereas this is the case in
particular with costs arising from the free distribution of products bought-
in by an intervention agency or withdrawn from the market ;
Whereas since the rul.es and conditions governing the annual accounts and the
items referred to in Article 4(3 ) of Regulation (EEC ) No 1883/78 have thus
been determined for all sectors , the regulations governing financing of
 intervention expenditure in the various sectors should be repealed,
 ---pagebreak---    HAS ADOPTED      THIS      .    -REGULATION ;
                          '        V
                                - r*
                        •   "     t -•
                                        Artide 1 -
   1. '   The accounts referred to in Article 4 of Regulation ( EEC ) No 1883 / 78
   shall be established for. each product for which a different intervention or
   reference price has been fixed .; These accounts shall show separably the
  following three classes £f expenditure :
           a ) expenditure -orv. material operations resulting from the buying-in
  of the product by intervention agencies , and in particular taking into store .
   conditions , transport , processing , storage and withdrawal from store ;
           b ) interest costs in respect of funds originating in the Member States
   used for intervention purchases ;
           c ) the differences between the value of quantifies entered and carried
  over from the previous year on the one hand and the value of the quantities
 disposed of and carried over to the following year on the other hand , and any
 other expenditure or revenue . : •
 2.      The Member States shall draw up accounts in accordance with the specimen
  set out in Annex 1 to the extent that the items in the specimen are provided for
   in Community regulations' .                        - .
         In addition , for products listed in Annex II , the Member States shall,
 draw up accounts in accordance with the indications given in Annex II , to the
'extent that the 6onditions mentioned there are met .
         The time of the material operation resulting from the intervention measure
  is the time to which, the entry in the accounts of the various elements of expen- .
  diture and receipts relates .
 3. -    Where an account shows a credit balance , this is deducted from the expen­
 diture for the year .
                                       Article 2
  ia .   For the establishment of the accounts * the Member States shall ensure in
 particular that the storage of the product and related operations - are carried out
 in accordance with Community regulations and in such a way that normal care is
taken with regard to the quantity and quality of the product stored .              ,
 ---pagebreak---        2.         The Member States shall inform the Commission of all provisions
        laid down by law , regulation or administrative action governing storage and
       related operations .
                                        Article 3               :
       1,          With regard to the preservation of products stored , a tolerance may
       be fixed in accordance with the procedure laid down in Article 26 of Council
       Regulation ( EEC ) No 2727 / 75 of 29 October 1975 oh the common organization
                                  1      ...        ....       ...            ..        2
       of the market in cereals , as last amended by Regulation ( EEC ) No 1547 / 79
       or > as the case may be , in accordance with the procedure of the corresponding
       article of the other regulations establishing common organizations of agri­
       cultural markets .
       2.         The value of any quantities exceeding the tolerance shall be entered
       on the credit side in the accounts .       Subject to the . specific provisions set out
       in Annex II , this value shall be calculated by multiplying such quantities by
       the highest intervention price for the standard quality valid during the relevant
       year , including any monthly, increases .
                  Quantity losses shall be equal either to the difference between the
       theoretical stock shown by the current inventory and the actual physical stock
       remaining on the last day of the year or , failing this , to the stock shown as
       remaining on the books afteir the physical stock has been exhausted .
                   In the event of deterioration of the product referred to in Article 4 ,
       the provisions of that Article apply and the quantities in question shall accord­
       ingly not be included for the purpose of calculating the tolerance .
                   Discrepancies in quantities due to theft or loss shall not be taken
       into account for the purpose of calculating the tolerance .         The value of these
       quantities , which is determined according to the provisions for quantities ex­
       ceeding the tolerance , shall be entered on the credit side of the accounts .
       3.          In respect of a product for which the intervention agency does not
       apply the tolerance but stands guarantee to the EAGGF for the whole quantity
       of this'product in store , it may be decided that the standard amount for storage
       referred to in Article 6 of Regulation ( EEC ) No 1883 / 78 should be increased .
                  The Member State shall inform the Commission , when submitting the state­
       ments referred to in Article 5 of Council Regulation ( EEC ) No 729 / 70 of 21 April -
     ■ 1970 on the financing of the common agricultural policy , as last amended by
                                              4
       Council Regulation ( EEC ) No 929 / 79 , if it has had recourse to the above provi­
       sions , stating the starting and finishing dates of such recourse­
]oj NO l 281 , 1.11.1975 , p.1
^0J NO L 188, 26.7.1979, p.1
70J No L 94 . 28,4.1970 , d.13
b                   .
                                      ,
  0J No I 117 , 12.5.1979 , p. 4
 ---pagebreak---                                     Arti c le 4                                   -
                                                                                   other than
 1.     Where a product has deteriorated or been destroyed as a result of accidents /
 natural disaster , it shall be considered as sold and having left the intervention
 £tock on the date of the accident , or failing this , on the date when the
 deterioration was discovered . In this case ,             ,
 - the price to be entered in the accounts shall be the price which is used , in ac­
  cordance with Article 8 of Regulation ( EEC ) No 1883 / 78 , for the calculation of the
  value of the quantities carried forward at the beginning of the year ;
 - the standard amount for the withdrawal of the product shall not be entered in
 the accounts .                  .:
        Revenue deriving from the sale of deteriorated products and other amounts
 received in this connection shall not be entered in the accounts . In all such
 cases    the prQduct shall be considered as deteriorated i f , as a result of the
 accident , its quality is no longer what it was at the time of buying-in .
 2o     Where a Dought-in product has deteriorated because - of storage , transport
 or. processing conditions , the provisions of paragraph 1 shall apply by analogy "
unless , in accordance with the' procedure laid down in Article 26 of Regulation ( EEC )
No 2727 / 75 or *, as the - case may be , in the corresponding Articles of the other Regu­
lations establishing common organizations of agricultural markets ;
        a ), it is decided to offer the product for sale so that it leaves
 intervention storage within three months of the date when the deterioration
 was noted ;                 •
        b ) the amount which the intervention agency records in the accounts as          -
 revenue obtained from the sale to be realized is established at the same time
 and according to the same, procedure ^ this amount may not be less than that which
 would derive from the application of the provisions of        paragraph 1 .
 3 ..   Where the deterioration has been caused b > natural disaster , the Member
  States involved shall inform the Commission . The Commission shall then adopt ,
  if necessary, appropriate decisions according to the procedure laid down for
  the clearance of accounts .
                                    Arti c le 5
 1.     The costs entailed by transport within the       Member' Stat ^ in question of
 the product held by the intervention agency, necessitated and approved in accord­
ance with the procedure laid down in Article 26 of Regulation ( EEC ) No 2727 /75 , or ,
as the case may be , in the corresponding Articles of the other Regulations
 establishing common organizations of           agricultural markets , shall be
 entered on tlte debit side of the accounts .
 ---pagebreak---                                       - s -
   2.      For transport operations outside the Member States in question , the costs
   shall be entered on the debit side . of these accounts , provided such operations
. have been authorized under Council Regulation ( EEC ) No 1055 / 77 of 17 May
   1977 on the storage and movement of products bought in by an intervention
            1
   agency .
   3.     Transport costs incurred by an intervention agency    on the occasion of the
   transfer of products from one intervention agency to another intervention agency ,
  effected in particular cases pursuant to a decision of the Council , acting on a
   proposal from the Commission , shall also be entered on the debit side of these
   accounts .
  4.      Entry and withdrawal costs , established at fixed rates for this
  purpose , shall also be entered on the debit side of these accounts , if these
  costs do not rank as an integral' part of transport costs under Community
   regulations .
  5.      Any transport costs paid in accordance^with Community regulations at
  the time of purchase of products shall be entered on the debit side of the
  accounts under heading I " Transport"'.
                                   Article 6
            All amounts collected or recovered by intervention agencies :
 - following failure on the part of sellers or purchasers to comply with
      regulations or contracts ;                                       -
 - from :storers     for the depreciation or loss of the products , as long as
      this is not covered by the application of Articles 3 and 4 ,   ,
     shall be entered on the credit side of the accounts .
                                   Article 7
           Where a product bought-in by an intervention agency or withdrawn from
 the market is distributed freely under Community regulations , the costs so
  incurred shall be financed , on the basis of the distance between the place
 of storage of these products and the place where they are distributed , by the
 application of standard rates ,- uniform for the Community, to be determined
 according to the procedure laid down in Article 13 of Regulation ( EEC )
 No 729 / 70 and ; if necessary, after examination by the Management Committee
 concerned .
  1
      0J No L 128 of 24.5.1977 , p. 1 .
 ---pagebreak---                                       Article 8
1.        Regulation (EEC) No 786/691 ,. (EEC) No 787/69 , (EEC) No 788/69 , (EEC)
No 2334/694, (EEC) No 2305/7Q5, (EEC) No 2306/70 , (EEC) No 1697/71 ,
(EEC) No 272/728, and (EEC) No 273/729, concerning the financing of
expenditure on intervention in the various sectors/ are hereby repealed U1th
effect from 1 January 1981 .                                          -
                                       Article 9
          This Regulation shall enter into force on the third day following its
 publication in. the Official Journal of the European Communities ..
           It shall take effect on 1 January 1981 . However , for the intervention,
 measures provided for in Council Regulation (EEC ) No 1837/80 of 27 June 1980
  concerning the common organisation of the markets in the sheepmeat and goatmeat
  sectors10, it shall take effect on the date that these measures are implemented
           This Regulation shall be binding in its entirety and directly applicable
. in all Member States .
                                                             For the Council
   Done at
                                                             The President
   (1 )   ÛJ   N°   L 105 of 2,5=1969 , p. 1
   (2 )   0J   N°   L 105 of 2=5.1969, p. 4
   (3 )   OJ   N°   L 105 of 2.5.1969 , p. 7
   (4 )   ÛJ   N°   L 298 of 27.11.1969, p. 1
   (5)    0J   N°   L 249 of 17.11.1970 , p. 1
   (6)    0J   N°   L 249 of 17.11 .1 970 , p. 4
    (7 )       N°   L 175 of 4 = 8.1971 , p. 1
    ( 8)       N° L 35 of 9.2 = 1972 , p. 1
    ( 9 ) OJ   fvjo |_ 35 of 9.2.1972 ,. p. 3
     ( 10)0J    No L 183 of 16.7=1980 , p.1
 ---pagebreak---                                         ÂiMNEX I
            I - Standard account with expenditure and revenue items for           determining
                    the amount to be financed by the EAGGF in respect of intervention measures
                entailing the purchase , storage and disposal of agricultural products
                 ( Article 4 of Regulation ( EEC ) No 1883 / 78 ).
  DEBIT                                                                                     CREDIT
   I. Costs , material operations
      1 . Standard amounts for costs
          incurred :
          a ) entry into stock
          b ) storage ,
          c ) withdrawal from stock
          d ) by processing or market preparation ,
          e ) by drying and homogenisation
              and special cooling processes ,
          f ) by transport .
      2 . Transport costs not covered by a
          standard amount .
      3 . Other costs deriving from
          operations provided for by
          Community regulations .
 II . Financing Gosts
      ( Article 5 of Regulation ( EEC ) 1
      No 1883 / 78 ).    -
III . Price difference and other items
      1 . Value of quantities in stock at              1 . Receipts from sales .
          the beginning of the year
                                                       2 . Value of quantities in stock at the
                                                           end of the year
      2 . VMue of quantities purchased .
                                                       3 . Value of quantity losses exceeding
                                                           the tolerance .
                                                       4 . Amounts collected or recovered
      3 . Other .                                          from sellers , purchasers and
                                                           storers .
                                                       5 . Other .
 IV . Debit balance                                    Crédit balance
 ---pagebreak---                                     - 11 -
                               ANNEX II                                                     _
                  Additional indications as regards the different products , concerning
                  the expenditure   and revenue items in the accounts referred
                  to in Article 4 of Regulation ( EEC ) No 1883 / 78 (1 )                .
1 . Cereals                                                  '
     1 = Drying : The additional costs of drying designed to lower the moisture
                  rate below that fixed for the standard quality shall be taken into
                  account , provided that the necessity of this operation has been shown to
                  be necessary in accordance with the procedures' laid down in Article 26
                  of Regulation ( EEC ) No 2727 / 75 .
2 - Homogenization or special cooling : Financing for one year may not exceed :
    processes ?
                                              - the quantities purchased during the
                                    •           marketing season which began during the
                                                preceding year ,         * .
                                            – ai average duration of twelve . months
,                                               of submission to these processes .
3o Value of quantities purchased            : The intervention agency shall be authorized *
    and receipts from sales                      in respect of all these purchases , tp use a system
                                                of contracts with the     storers  based on the
                                                standard quality of cereals . In this case , •
                                                the value of the quantities /bought-in and
                                                 sold to be entered in the account shall
                                                refer .to the standard quality . Where there .
                                                are transfers between intervention agencies
                                                at zero prices or in the case of similar
                                                measures , the increases and reductions ■       -
                                            :   recorded at the time of the withdrawal
                                                of the product from store shall be entered as a
                                               negative or positive amount on the debit side of
               >                           - the account under the heading " Other" ( III / 4 )
4 . For the purposes of applying the provisions relating to the tolerance for
   -breadraaking wheat the reference price shall be            used        instead of the
     intervention price .
   - losses ir\ quantity as a result of drying are not taken into account in the cal­
     culation                        '                              .
    (1 ) There are no additional " indicators for products not mentioned specifically in
         this annex .
 ---pagebreak--- Il.-Pigmeat
     1 . Transport of meat held ' : For transport operations other than those
          by an intervention          arising from a transfer between intervention-
          agency
                                      agencies , the transport costs shall be financed
                                      on the basis of a standard amount .  The entry
                                      and withdrawal costs incurred in respect of such
                                      transport shall be financed on the basis of a se
                                      oarate standard amount fixed for this purpose .
      2 » For the purpose of applying the provisions relating to the tolerance for
          products which have not been processed, the highest purchase price charged
          during the relevant intervention period shall be used with the addition of
          the standard amount for entry and the standard amount for storage / the latter
          being related to the longest storage period; for processed products , this
          price is also increased by the processing and transport costs .
 ---pagebreak---                                 - 13 -
III . Sugar
      1 . Transport of sugar from      Transport costs shall be financed on the bas
          the factory to the store
                                       of a standard amounts
      2 . Costs of conditioning        These costs are financed on the basis of a
                                       standard amount .
      3 . Reimbursement of             Reimbursement of storage costs made under
          storage costs
                                       Article 8 of Regulation ( EEC ) No 3330 / 74
                                       and received by the intervention agencies'
                                       shall be entered on the credit side of the
                                       account under the heading " Other ".
 ---pagebreak---                                         14 -
IV . - Beef
       1 . Transport of meat held is For transport operations other than those
           by an intervention             ....          .    ,  , .       . .
             1                       ■ arising from a transfer between intervention
           agency
                                        agencies the transport costs shall be financed
                                        on the basis of a standard amount .
                                        The entry and withdrawal costs incurred in
                                        respect of such transport shall be financed by
                                        a separate standard amount fixed for this
                                      . purpose ,
       2 = For the purposes of applying the provisions relating to the tolerance ,
           the price to be referred to shall not be the intervention price but
           the highest  guide pri ce . during the relevant year ^, multiplied by a
           coefficient adopted according to the procedure set down in Article 27
           of Regulation ( EEC ) No 805 / 68 .
 ---pagebreak--- Tobacco
1 . Value of quantities                 : For quantities bought-in on or after 1 . 1.1982
     bought-in '                                                        -          (
                                            the amount of the premium included in -the
                                            amount paid        shall be deducted from the
                                            amount paid at the time of buying-in and re­
                                            corded against the budget item for this premi­
                                            um . The amount paid , less the premium component ;,
                                            shall be recorded under the heading III / 2 .
                                            For this purpose , where baled tobacco is
                                            bought-in , the amount of the premium , . _ ■ ■■
                                       .    expressed in terms of leaf tobacco , shall be
                                            multiplied by the processing coefficient
                                          " to be fixed according to the procedure .
                                            provided for in Article 17 of .
                                            Regulation ( EEC ) No 727 / 70 .
  2 . Costs of first processing          : Where the intervention agency itself carries
      ^
       and market preparation, of leaf                                            ^
                                            out these operations * the amount to. be
      tobacco ( Article 7 of                             K           '
      Regulation ( EEC ) No 727 / 70 )      financed shall be fixed at a        standard
                                            rate         according tothe procédure
                                            laid down in Article 6 of Regulation
                   x   _r'
                                            ( EEC ) No 1883 / 78 . This amount may not
                                            exceed the corresponding costs under the
                                            processing contracts .
  3 . For the purposes of applying the provisions relating to the tolerance ,
   use shall be made of the intervention price for the variety in question and
                                                                 /
   for the best auality of the harvest in question .
 ---pagebreak---                   FlívAfJCiAL           STATGMEMT                            L1
                                                                             I fate :       27 / 10 / 80
  I. 8U0GET HEADING :      Titles 6 and 7
                                                                                 APPROPRIATIONS : 11,485.5 mio EUA j
 2. TITLE : Proposed council Regulation relating to the financing by the EAGGF ,
 Guarantee Section of certain intervention measures , particularly those involving
 the purchase, storage and sale of agricultural products by intervention agencies , j
 ï . LEGAL BASIS : R. 1883 / 78 , art . 4 § 3
     AIMS OF PROJECT : To amalgamate and consolidate existing regulations , making amend­
     ments where it has proved necessary .
 5 . FINANCIAL IMPLICATIONS                   PERIOD OF 12 MONTHS CURRENT M\4XCIAT YEAR     FOLLOWING UNANCIAL YEAR
                                                                         <  »o      >
 5.0 EXPENDITURE
      " CHARGED TO THE EC BUDGET
         ( XXX JOC / INTERVENTIONS )
      - savings in interest cost                         5,4
      - premium element
5.0.1 ESTIMATED EXPENDITURE                 !        1982          1983                1984         1985 onyigrds
                                            I
      - savings in interest costis                 -               - 3,4              - 5,4              - 5,4    .
      - premium element                     j      + 25,3         + 25,3
                                            i      + 24,2         W1.V         '      - 5.4              - 5.4
5.2 TFETNCA c * CALCULATION       Annex II , V ( Tobacco ), paragraph 1 : Deduction of the premium
      element of the purchase value for tobacco bought after 1 / 1 / 82 ( see attached
      table ).         This deduction involves :
      a ) savings in interest costs on funds used for the purchase of the product .
            For a period of 12 months and at the time when this deduction is applied to
            all quantities in stock , the saving will be 5,4 mio EUA .
      b ) the premium element being taken into account immediately as compared with the
            existing regulations . There is therefore an increase in expenditure during
            the first two years ( 192 and 83 ). Subsequently, this effect is offset by
            sales without the premium element .
6.0 CAN T«E PRO-EC' BE ; INANCED FROM APPROPRIATIONS ENTEReD IN THE RELEVANT CnAPTER OF THE CjRREN . BLSucT ?
                                                                                                               YES / 3CX
£.XXXXXXXXXXXXXSXXX*X3£X)OCfX}«AXXX*SXttX5CK K'JfKX^X^X^fctfXfc^XxXX^X 7
*X X-XXX X XXX X_X XXX X* XX XXX xxxxx xxxx-x X
6.3 RFLLL ? 0"UR£ 3U0GET APPRGPRIATICNS 3£ NSCCSSARY ?
                                                                                                               Y6S / NCX
OBSERVATIONS
 ---pagebreak---                                                          < I                           1
                                           ANNEX TO- THE FINANCIAL STATEMENT
 Purchases have been estimated at 42,,2 mio EUA C1 ) per year for the purposes of this calculation ;
 it is estimated that the tobacco will be sold in the second year after puchase .
                       *        '   '
                                                      1982       1983 _                1984       1985        1986      ,   198^     1988
 1 . Purchases 1982'
      - allocation of the premium element           +     25,3
         under the heading for premiums
         C = 60 % of the purchase value of                       1
         the tobacco )     Ca )         -,
      - decrease in the net loss at the                                 –
                                                                                     - 25,3           –         –
         time of sale    Cb )
      - saving in interest costs on capital                              C2 )
         need by the intervention agencies Cc )     7 " ' 1,1    -        2,3        -   2,0      ■   -         -
 2 . Purchases 1983      ■
    , - Ca )                                               -
                                                                 + 25,3 .                *          ■ -
                                                                                                                r     '
      -   Cb )                                         ;   -                                   - 25,3           -
      - Cc )               .                                     -        1,1        -   2,3   -      2,0       -
                                                      %
                                                                                   *
 3 . Purchases 1984                                                                          .          ' -
                                                                                     + 25,3                 - 25,3
                                                                                                      -
      - Ca ) & Cb )                                        - .
      - Cc )                                      *        -   '        -
                                                                                     -   1,1   -      2,3   -   2,0          - ·
 4 , Purchases Ì 985
      - Ca ) & Cb )                                                     -        ;       -
                                                                                               + 25,3           -   ■
                                                                                                                          - 25,3
                                                                                                                                         ', Λ
      - Cc )                      .      '                 -   ,        -
                                                                                               -      1,1   Τ   2,3       -    2,0
                                                                                                                                              * ·
 5 . Purchases 1986'                                                                                                                 Ψ J
                                                                   '*   -■     1
      - Ca ) & Cb )                                                                      -            -
                                                                                                            + 25,3                 - 25,3
      - Cc )                                                            -   ■■                  '     -
                                                                                                            -   1,1       -    2,3 -     2,0
 Etc..·                                                               <
                                                                                                                             etc.     etc.
 Total                                                + 24,2     + 21,9              -   5,4   -      5,4   -   5'A       -    5,4 -     5,4
C1 )    Budget estimates for 1981
C2 )    25.3 mio EUA x 0.09 = 2,3 mio EUA