\n\t\t\t\t\t\t\t \t\t\tAgricultural prices 1997/98 - olive oil\nThe Commission is proposing a major reform of the scheme in the near future. However, since the\nnew scheme will apply only from the 1998/99 marketing year, it is proposed that the current levels\nfor prices and aid should be maintained.\nBy comparison with the proposal for last year, two aspects have been added or modified to maintain\nthese current levels:\n- the maximum guaranteed quantity (1 350 000 t), given that the 1996/97 marketing year was the last\nyear covered by the previous arrangement,\n- the intervention price (ECU 180.58/100 kg), reduced in 1996/97 following application of the\nsystem of stabilizers adopted by the Council in 1997.\nIt is also proposed to increase from 5.5% to 8% the percentage of consumption aid kept to cover the\nexpenses of the trade organizations responsible for management the aid for the benefit of their\nmembers. The increase in the percentage will not have any financial impact on the Union's budget.\nIt should be noted that the amounts held but not utilized must be redistributed to the members of the\norganizations.\nThe price proposals for the olive oil sector are therefore as follows:\n- target price: ECU 383.77/100 kg\n- intervention price: ECU 180.58/100 kg\n- representative market price: ECU 229.50/100 kg\n- production aid: ECU 142.20/100 kg\n- production aid for growers whose average production is less than 500 kg: ECU 151.48/100 kg\n- production aid withheld for:\n. quality improvement: 1.40%\n. aid to producers' organizations and their associations: 0.80%\n- consumption aid withheld for:\n. promotion campaigns: 0%\n. aid to trade bodies: 8%\n�
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\n\t\t\t\t\t\t\t \t\t\tAgricultural prices 1997/98 - olive oil\nThe Commission is proposing a major reform of the scheme in the near future. However, since the\nnew scheme will apply only from the 1998/99 marketing year, it is proposed that the current levels\nfor prices and aid should be maintained.\nBy comparison with the proposal for last year, two aspects have been added or modified to maintain\nthese current levels:\n- the maximum guaranteed quantity (1 350 000 t), given that the 1996/97 marketing year was the last\nyear covered by the previous arrangement,\n- the intervention price (ECU 180.58/100 kg), reduced in 1996/97 following application of the\nsystem of stabilizers adopted by the Council in 1997.\nIt is also proposed to increase from 5.5% to 8% the percentage of consumption aid kept to cover the\nexpenses of the trade organizations responsible for management the aid for the benefit of their\nmembers. The increase in the percentage will not have any financial impact on the Union's budget.\nIt should be noted that the amounts held but not utilized must be redistributed to the members of the\norganizations.\nThe price proposals for the olive oil sector are therefore as follows:\n- target price: ECU 383.77/100 kg\n- intervention price: ECU 180.58/100 kg\n- representative market price: ECU 229.50/100 kg\n- production aid: ECU 142.20/100 kg\n- production aid for growers whose average production is less than 500 kg: ECU 151.48/100 kg\n- production aid withheld for:\n. quality improvement: 1.40%\n. aid to producers' organizations and their associations: 0.80%\n- consumption aid withheld for:\n. promotion campaigns: 0%\n. aid to trade bodies: 8%\n�
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\n\t\t\t\t\t\t\t \t\t\tWith the Commission proposing a virtual price freeze on the ECU 41bn farm budget for next year, the Committee adopted the report on the prices for agricultural specifically and related measures (97/98) presented by Mr Robert STURDY (EPP/UK).\nThel Committee rejected the Commission's proposals to reduce the monthly increases in intervention prices. It proposed that: for cereals they remain the same as in the 96/97 marketing year.�
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\n\t\t\t\t\t\t\t \t\t\tAgricultural prices 1997/1998 - Olive oil.\nAdopting Regulation (EC) No 1414/97, the Council decided:\n- to maintain current levels for prices, aid and the maximum guaranteed quantity but to reduce the intervention price as the maximum guaranteed quantity had been exceeded in 1996/1997;\n- to increase from 5.5% to 8% the percentage of consumption aid kept for the trade organizations responsible for managing the aid, as proposed by the Commission.�
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