Commission Regulation (EC) No 2011/96 of 21 October 1996 fixing the intervention price of olive oil for the 1996/97 marketing year at a reduced level to take account of the overrun of the maximum guaranteed quantity during the 1994/95 and 1995/96 marketing years

COMMISSION REGULATION (EC) No 2011/96 of 21 October 1996 fixing the intervention price of olive oil for the 1996/97 marketing year at a reduced level to take account of the overrun of the maximum guaranteed quantity during the 1994/95 and 1995/96 marketing years
THE COMMISSION OF THE EUROPEAN COMMUNITIES
,
Having regard to the Treaty establishing the European Community,
Having regard to Council Regulation No 136/66/EEC of 22 September 1966 on the establishment of a common organization of the market in oils and fats (1), as last amended by Regulation (EC) No 1581/96 (2), and in particular Article 4a thereof,
Whereas Council Regulation (EC) No 1583/96 (3) fixes, for the 1996/97 marketing year, the intervention price for olive oil;
Whereas Article 4a of Regulation No 136/66/EEC extends the system of maximum guaranteed quantities to the intervention price for olive oil; whereas, for the 1994/95 marketing year, for which the maximum guaranteed quantity was fixed at 1 350 000 tonnes, the estimated production of olive oil was fixed at 1 408 023 tonnes, while final production for the same marketing year was established as 1 463 228 tonnes; whereas, pursuant to the second indent of the abovementioned Article 4a, the intervention price for the 1996/97 marketing year should be reduced in proportion to the difference between the extents to which the final and estimated production in the 1994/95 marketing year exceeded the abovementioned maximum guaranteed quantity;
Whereas, for the 1995/96 marketing year, for which the maximum guaranteed quantity is fixed at 1 350 000 tonnes, estimated olive oil production is fixed at 1 417 200 tonnes; whereas, pursuant to the abovementioned Article 4a, the intervention price for the 1996/97 marketing year should be reduced in proportion to the extent that estimated production for the 1995/96 marketing year exceeds the abovementioned maximum guaranteed quantity;
Whereas, however, such reductions may not exeed 3 %;
Whereas the intervention price fixed for the 1996/97 marketing year by Regulation (EC) No 1583/96 must therefore be reduced by 3 %,