31973R3414
20 . 12 . 73 Official Journal of the European Communities No L 351 / 1
I
(Acts whose publication is obligatory)
REGULATION (EEC) No 3414/ 73 OF THE COUNCIL of 11 December 1973 on the formation of a buffer stock of olive oil
THE COUNCIL OF THE EUROPEAN Whereas, in order to encourage formation of the COMMUNITIES , stock, the subsidy on virgin olive oil bought in for the stock and on olive-residue oil should, by way of dero Having regard to the Treaty establishing the European gation from Council Regulation (EEC) No 3209 /73 (3) Economic Community ; of 27 November 1973 on the subsidy for olive oil , be paid to the producer at the same time as the buying-in price ; Having regard to Council Regulation No 136/ 66/EEC (') of 22 September 1966 on the establish Whereas provision should be made for the buffer ment of a common organization of the market in oils stock to be disposed of as soon as it becomes and fats , as last amended by Regulation (EEC) No apparent, in the light of the market situation and the 1707/73 (2), and in particular Article 10 (2) and Article level of prices obtaining, that this is necessary, 1 2 thereof ;
Having regard to the proposal from the Commission ; HAS ADOPTED THIS REGULATION : Whereas Article 12 of Regulation No 136/66/EEC provides that, to mitigate the effects of harvest fluctua Article 1 tions on the balance between supply and demand and in this way to stabilize consumer prices, the Council A buffer stock of virgin olive oil shall be formed may require intervention agencies to form a buffer under the conditions laid down in Articles 2 to 5 . stock of olive oil ;
Whereas in recent years there have been considerable Article 2 fluctuations in Community olive harvests ; whereas these fluctuations have had an adverse effect on the 1 . The formation of the buffer stock shall be olive oil market situation and on the stability of entrusted to the Italian intervention agency, which cpnsumer prices for this product ; shall act before 1 April 1974.
2. The buffer stock shall consist exclusively of Whereas a good harvest is expected for the 1973/74 virgin olive oil produced in the Community during marketing year ; whereas, in order to counteract the difficulties referred to above, it would seem desirable the 1973/74 marketing year. to set aside part of this year's harvest to form a buffer 3 . The total quantity of virgin olive oil bought in stock of olive oil in the Community ; for the buffer stock shall not exceed 75 000 metric tons for the marketing year in question . Whereas in the interests of sound administration , offers for sale must relate to the total quantity of . oil produced by those making an offer ; Article 3
Whereas, in view of price levels on the Community For the purposes of forming the buffer stock and market, the buying-in price for the buffer stock subject to the maximum tonnage specified in Article should be fixed at a level not exceeding that of the 2 (3), the Italian intervention agency shall buy in only market target price ; virgin olive oil offered to it by producers on the terms set out in Article 4 . (') OJ No 172, 30 . 9 . 1966, p. 3025/66. (2) OJ No L 175, 29 . 6. 1973, p. 5 . (3) OJ No L 327, 28 . 11 . 1973 , p . 15.
No L 351 /2 Official Journal of the European Communities 20 . 12 . 73
Article 4 payable on the total quantity of virgin olive oil produced and on the quantity of olive-residue oil 1 . A producer offering virgin olive oil to the inter calculated in accordance with Article 13 of Regulation vention agency for the buffer stock may offer only (EEC) No 3423/73, the amount of the subsidy being virgin olive oil obtained from olives which he has reduced by 1 % . grown himself. His offer shall relate to the total quantity of virgin Article 6 olive oil produced. The Italian intervention agency shall take all measures The producer may however obtain authorization to necessary to ensure that the olive oil constituting the retain the quantity necessary for his own use. buffer stock remains in good condition .
2. All offers shall be submitted in writing to the It shall inform the Commission of the measures taken Italian intervention agency by 31 March 1974 at the to that end . latest. Article 7 The written offer shall also be considered as an appli cation for the subsidy provided for in Article 10 of When the market situation and the level of prices so Regulation No 136/66/ EEC in respect of the quanti require, a decision shall be taken in accordance with ties offered . the procedure laid down in Article 38 of Regulation No 136/ 66/ EEC requiring the Italian intervention Article 5 agency to offer the oil constituting the buffer stock for sale and laying down the terms of such sale. 1 . The buying-in price for the virgin olive oil deliv ered shall not exceed the market target price ruling on Article 8 the day on which the oil is delivered to the interven tion agency . All other rules for the implementation of this Regula This price shall relate to virgin olive oil of standard tion shall be adopted in accordance with the proce quality. For other qualities the price shall be adjusted dure laid down in Article 38 of Regulation No 136/ 66/ EEC . by means of a scale of price increases and reductions.
2. By way of derogation from the provisions of Article 9 Regulation (EEC) No 3209/73 and subject to compli ance with the conditions set out in Article 4, the This Regulation shall enter into force on the third day Italian intervention agency shall, when paying the following its publication in the Official Journal of buying-in price, also pay to each seller the subsidy the European Communities.
This Regulation shall be binding in its entirety and directly applicable in all Member States .
Done at Brussels, 11 December 1973 .
For the Council The President
lb FREDERIKSEN