Document ID: 31997R2049

COMMISSION REGULATION (EC) No 2049/97 of 20 October 1997 fixing the intervention price of olive oil for the 1997/98 marketing year at a reduced level to take account of the overrun of the maximum guaranteed quantity during the 1995/96 and 1996/97 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 1414/97 (3) fixes, for the 1997/98 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 1995/96 marketing year, for which the maximum guaranteed quantity was fixed at 1 350 000 tonnes, the estimated production of olive oil was fixed at 1 417 200 tonnes, while final production for the same marketing year was established as 1 481 450 tonnes; whereas, pursuant to the second indent of the abovementioned Article 4a, the intervention price for the 1997/98 marketing year should be reduced in proportion to the difference between the extents to which the final and estimated production in the 1995/96 marketing year exceeded the abovementioned maximum guaranteed quantity;
Whereas, for the 1996/97 marketing year, for which the maximum guaranteed quantity is fixed at 1 350 000 tonnes, estimated olive oil production is fixed at 1 859 400 tonnes; whereas, pursuant to the abovementioned Article 4a, the intervention price for the 1997/98 marketing year should be reduced in proportion to the extent that estimated production for the 1996/97 marketing year exceeds the abovementioned maximum guaranteed quantity;
Whereas, however, such reductions may not exceed 3 %;
Whereas the intervention price fixed for the 1997/98 marketing year by Regulation (EC) No 1414/97 must therefore be reduced by 3 %,
HAS ADOPTED THIS REGULATION:
Article 1
The intervention price for olive oil for the 1997/98 marketing year shall be ECU 175,16/100 kg.
Article 2
This Regulation shall enter into force on the third day following its publication in the Official Journal of the European Communities.
It shall apply from 1 November 1997.
This Regulation shall be binding in its entirety and directly applicable in all Member States.
Done at Brussels, 20 October 1997.

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