31977R1068
No L 129 /4 25 . 5 . 77 Official Journal of the European Communities
COUNCIL REGULATION ( EEC) No 1068 / 77 of 17 May 1977 fixing the monthly increases in the market target price, the intervention price and the threshold price for olive oil for the 1977 /78 marketing year
THE COUNCIL OF THE EUROPEAN the average storage costs should be established on the COMMUNITIES , basis of the cost of storing oil in the appropriate prem ises and of the handling required for preserving the Having regard to the Treaty establishing the European oil in good condition ; whereas the interest charges Economic Community, can be calculated with reference to the average price Having regard to Council Regulation No 136/66/EEC of olive oil valid in production areas, of 22 September 1966 on the establishment of a common organization of the market in oils and HAS ADOPTED THIS REGULATION : fats ('), as last amended by Regulation (EEC) No 1 707/73 (2), and in particular Article 9 thereof, Article 1 Having regard to the proposal from the Commission, For the 1977/78 marketing year, the amount of the Whereas, under Article 9 of Regulation No 136/ monthly increases referred to in Article 9 of Regula 66/EEC, the market target price, the intervention tion No 136/ 66/ EEC and applicable with effect from price and the threshold price for olive oil must be 1 January 1978 shall be 1-12 units of account per 100 increased each month for a period of 10 months kilograms. beginning on 1 January 1978 ; whereas these increases Article 2 must be the same for all three prices ; Whereas, in fixing these increases the same for each This Regulation shall enter into force on the day of the 10 months, account being taken of average following its publication in the Official Journal of storage costs and interest charges in the Community, the European Communities.
This Regulation shall be binding in its entirety and directly applicable in all Member States .
Done at Brussels, 17 May 1977. For the Council The President J. SILKIN
(!) OJ No 172, 30 . 9 . 1966, p . 3025/66 . (2) OJ No L 175, 29 . 6. 1973 , p . 5 .