Council Regulation (EC) No 1404/1999 of 24 June 1999 fixing, for the 1999/2000 marketing year, the derived intervention prices for white sugar, the intervention price for raw sugar, the minimum prices for A and B beet, and the amount of compensation for storage costs

COUNCIL REGULATION (EC) No 1404/1999
of 24 June 1999
fixing, for the 1999/2000 marketing year, the derived intervention prices for white sugar, the intervention price for raw sugar, the minimum prices for A and B beet, and the amount of compensation for storage costs
THE COUNCIL OF THE EUROPEAN UNION
,
Having regard to the Treaty establishing the European Community,
Having regard to Council Regulation (EEC) No 1785/81 of 30 June 1981 on the common organisation of the markets in the sugar sector(1), and in particular Article 3(5), Article 5(5) and Article 8(4) thereof,
Having regard to the proposal from the Commission(2),
Whereas
(1) Council Regulation (EC) No 9330/1999 of 24 June 1999 fixing, for the 1999/2000 marketing year, certain sugar prices and the standard quality of beet(3), fixed the intervention price for white sugar at EUR 63,19 per 100 kilograms applicable for the non-deficit areas;
(2) Article 3(1) of Regulation (EEC) No 1785/81 provides that derived intervention prices for white sugar are to be fixed for each of the deficit areas; for such fixing, it is appropriate that account be taken of the regional variations in the price of sugar, which, given a normal harvest and free movement of sugar, might be expected to occur in the price of sugar under natural conditions of price formation on the market;
(3) A deficit supply situation is to be anticipated in the areas of production in Ireland and the United Kingdom, Spain, Portugal and Finland;
(4) Article 3(5) of Regulation (EEC) No 1785/81 provides that an intervention price for raw sugar shall be fixed; such price should be established on the basis of the intervention price for white sugar;
(5) Regulation (EC) No 9330/1999 fixed the basic price for beet at EUR 47,67 per tonne; Article 5(2) of Regulation (EEC) No 1785/81 provides that the minimum price to be fixed for A beet shall be 98 % of the basic price of the beet and the minimum price to be fixed for B beet shall in principle be 68 % of the said basic price, without prejudice to Article 28(5) of that Regulation;
(6) Article 5 of Council Regulation (EEC) No 1358/77 of 20 June 1977 laying down general rules for offsetting storage costs for sugar and repealing Regulation (EEC) No 750/68(4) provides that the amount of repayment in the context of the compensation for storage costs shall be fixed per month and per unit of weight, taking account of financing costs, insurance costs and specific storage costs; for financing costs, account should be taken of a 3,75 % interest rate,