Regulation No 115/67/EEC of the Council of 6 June 1967 laying down criteria for determining world market prices for oil seeds and fixing the frontier crossing point

REGULATION No 115/67/EEC OF THE COUNCIL  of 6 June 1967  laying down criteria for determining world market prices for oil seeds and fixing the frontier crossing point
THE COUNCIL OF THE EUROPEAN ECONOMIC COMMUNITY
,
Having regard to the Treaty establishing the European Economic Community;
Having regard to Council Regulation No 136/66/EEC  (1) of 22 September 1966 on the establishment of a common organisation of the market in oils and fats, and in particular Article 29 thereof;
Having regard to the proposal from the Commission;
Whereas Article 29 of Regulation No 136/66/EEC provides for criteria for determining world market prices for colza, rape and sunflower seeds to be laid down and the Community frontier crossing point for which these prices are calculated to be fixed;
Whereas these prices should be determined on the basis of the most favourable purchasing opportunities on the world market;
Whereas to this end the Commission should take into consideration all offers made on the world market which are known to it and all prices quoted on those exchanges which are important for international trade ; whereas, however, it should ignore certain offers if, in its opinion, they should not be regarded as representative of the actual market trend ; whereas long-dated offers and quotations should also be disregarded since they do not relate to products for immediate delivery;
Whereas, if there are no offers or quotations which can be used as a basis for determining the world market price, this price should be determined on the basis of the latest recorded value for quantities of oil and oil-cake resulting from the processing of seeds;
Whereas when the frontier crossing point is being fixed account should be taken of the extent to which this point is representative for imports and for the processing of seeds ; whereas, therefore, the port of Rotterdam should be selected as the Community frontier crossing point ; whereas offers and quotations must be adjusted if they are made for another frontier crossing point;
Whereas provision should be made for adjustments to the offers and quotations used in order to offset in particular any deviation from the presentation and quality determined for the purpose of fixing the target price;
Whereas when the world market price is being determined account should be taken of the need to prevent Community processors from being encouraged by the economic advantages arising from the processing of various oil seeds to give preference to one type of seed ; whereas to this end provision should be made for appropriate adjustments to be made to the price taken into account;