Commission Regulation (EEC) No 3427/87 of 16 November 1987 laying down detailed rules for intervention on the market in rice

17.11.1987 EN Official Journal of the European Communities L 326/25
COMMISSION REGULATION (EEC) No 3427/87
of 16 November 1987
laying down detailed rules for intervention on the market in rice
THE COMMISSION OF THE EUROPEAN COMMUNITIES
,
Having regard to the Treaty establishing the European Economic Community,
Having regard to Council Regulation (EEC) No 1418/76 of 21 June 1976 on the common organization of the market in rice (1), as last amended by Regulation (EEC) No 1907/87 (2), and in particular Article 5 (6) thereof,
Whereas Article 5 (1) of Regulation (EEC) No 1418/76 allows buying in only if the market price remains below the intervention price for a certain period; whereas the purpose of that provision is to prevent recourse to intervention on the slightest movement of prices and to activate buying in only when the level of prices is below the intervention price for a certain period; whereas two weeks would be a suitable length for that period;
Whereas, under the new intervention arrangements laid down by Regulation (EEC) No 1907/87, intervention buying in may be undertaken only on the basis of a comparison of the market prices with the intervention price; whereas the latter is fixed for a standard quality of product at the wholesale stage, delivered at ware house before unloading; whereas for the sake of comparability the market price should be determined from prices recorded at an identical point;
Whereas, if the intervention system is to be managed satisfactorily, the recording of prices should be limited to the market where supply most exceeds demand; whereas, for that purpose, only the market price of the variety which is most representative of that part of production which exceeds demand should be recorded; whereas, however, provision should be made for taking into account the market situation in Spain when there is a surplus;
Whereas a longer period of observation of the market should be required before a decision is taken to terminate intervention buying in than is required for commencement of buying in;
Whereas the measures provided for in this Regulation are in accordance with the opinion of the Management Committee for Cereals,