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

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 Guarantee Fund, Guarantee Section(1), as last amended by Regulation (EC) No 1259/96(2), and in particular the second sentence of Article 8(1) thereof,
Whereas:
(1) 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 foreseeable disposal price for each of these products.
(2) 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,