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OLIVE OIL
Explanatory note on ollve o~l
pnces (fixed prices and nummum lev~es)
I. FIXED PRICES
A. 'l)'pes of prices
Under Art1cle 4 of Regulation No 136/66/EEC ( Offic~al Journal No 172, 30 September 1966) as last amended by Couocil
Regulat10n (EEC) No 1562/78 of 29 June 1978 (Offlcial JournalNoL 185, 7 July 1978), the Cvuncil, acting under the procedure
laid down ~n Art~cle 43 ( 2) of the Treaty, fixes each year, for the Conrnuni ty, before 1 August for the marketing
year beg~nning in the follow~ng year, a production target pr~ce and an ~ntervent~on pr~ce, and, before 1 OCtober, by
qual~fied major~ ty on the bas~s of a Commission proposal, for the following marketing year, a representat~ve market
pr~ce
and a threshold price for ol~ve oil.
Product10n target pnce (Art~cle 6 of Regula bon (EEC) No 1562/78).
'llus pr~ce is flxed at a level wh~ch is fan to producers, account being taken of the need to keep Comnunity product~on
at the requ~red level.
Representative market price (Art~cle 7 of Regulation (EEC) No 1562/78).
This pr~ce ~s flxed at a level perm~tt~ng normal market~ng of olive o~l produced, account being taken of competing
products, includ~ng the probable trend of the prices of these dur~ng the marketing year, and of the impact on the pr~ce
of ol~ve o~l of the monthly in=eases referred to in Art~cle 10 of the Regulahon.
Intervention price (Article 8 of Regulatwn (EEC) No 1562/78)
The ~ntervent~on pr~ce is the product~on target pr~ce minus production aid referred to in Article 5 and m~nus an amount
accounting for market var~ations and the cost of transport~ng ol~ve oil from production areas to consumption areas.
Threshold price (Art1cle 9 of Regulation (EEC) No 1562/78)
The threshold pr~ce ~s fixed ~n such a way that at the Comnumty front~er crossing po~nt the selling price will be the
same as the representat~ve market pr~ce, allowing for the ~ncidence of the measures referred to m Article 11(3). This
frontier crossing po~nt is determined according to the procedure provided for in Article 38 (Article 3 of Regulation No
136/66/EEC) • Impena has been selected as the frontier crossing point (Art~cle 3 of Regulation :-Jo 165/66/EEC) •
B. Standard quality
The product~on target pr~ce, the representat~ve market price, the ~ntervent~on price and the threshold price, relate
to semi-fine v~rgin ol~ve oil with a free fatty acid content, expressed as oleic acid, of 3 grams per 100 grams
(Art~cle 2 of Regulat~on No 165/66/EEC).
II. MINIMUM IMPORT LEVIES
The latest vers10n of Article 16 of Regulation No 136/66/EEC allows lev~es on olive oil ~ported from non-member countries
to be f~xed by a tender~ng procedure where sufflc~ent ~nformat::_on on market condit~ons is not available.
'Ihe same Art~cle sets out general cr~ter~a for the fixing of the m~n=um levy under the tendering p:-ocedure.
In Regulat~on (EEC) No 3131/78, the Camuss10n dec~ded to use th~s levy-fl~ng procedure.
For ol~ve o~l p:-oducts other than ol~ve o~l ~ tself, the levy ~s fixed by reference to oil content.
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