15. 1. 98 Official Journal of the European Communities L 9/25 COMMISSION REGULATION (EC) No 94/98 of 14 January 1998 on olive oil storage contracts for the 1997/98 marketing year 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 organisation of the market in oils and fats('), as last amended by Regulation (EC) No 1581/96 (), and in par- ticular Article 20d(3) and (4) thereof, Whereas Article 20d(3) of Regulation No 136/66/EEC provides that, when certain conditions are met, a decision may be taken that producer groups and associa- tions recognised pursuant to Council Regulation (EEC) No 1360/78 (%), as last amended by Regulation (EC) No 3669/93 (), may conclude storage contracts for olive oil; whereas the market prices in certain producer Member States, at the production stage and primarily for the quality of olive oil which is of greatest importance in terms of the prices of most of the olive oils consumed in the Community, have been found to be close to the inter- vention price; whereas therefore the conditions laid down by Regulation No 136/66/EEC and Commission Regula- tion (EEC) No 314/88(°), as amended by Regulation (EEC) No 3788/89 (%), are met in those Member States; whereas permission to conclude storage contracts should therefore be granted for this marketing year; Whereas the aim behind private storage contracts is temporary withdrawal of products from a market in im- balance, without change of ownership, so that they can be put on the market again when the situation has returned to normal; whereas it should therefore be specified that storage contracts may be entered into only for olive oil produced during the current marketing year and ceilings for each country should be fixed; Whereas only recognized groups and associations may be authorised to store oil produced by their members; whereas in order to enable them to refrain from mar- keting the oil that they hold, aid should be granted; 1 ) OJ 172, 30. 9. 1966, p. 3025/66. % OJ L 206, 16. 8. 1996, p. 11. L 166, 23. 6. 1978, p. 1. L 338, 31. 12. 1993, p. 26. L 31, 3. 2. 1988, p. 16. L 367, 16. 12. 1989, p. 44. ( ( () () () () Whereas the aim behind private storage must be the improved marketing of olive oil; whereas the period during which storage contracts may be concluded should therefore be restricted; whereas, moreover, the offering of oil for intervention on expiry of the storage contract should be discouraged; whereas it is accordingly desirable to reduce the storage aid if the oil is subsequently offered for intervention; Whereas it is desirable to specify that entitlement to aid for a storage contract is annulled by the acceptance of an export declaration; Whereas the Management Committee for Oils and Fats has not delivered an opinion within the time limit set by its chairman, HAS ADOPTED THIS REGULATION: Article 1 The intervention agencies in the producer Member States shall conclude olive oil storage contracts for the 1997/98 marketing year as provided for in this Regulation. Article 2 1.  Storage contracts (hereinafter called ‘contracts’) shall be concluded only with recognised groups or associations within the meaning of Regulation (EEC) No 1360/78 which hold olive oil of Community origin produced by their own members and which have appropriate storage facilities at their disposal. 2. Contracts shall relate only to olive oil qualities that may be offered for intervention and to lots of at least 100 tonnes net. 3. Contracts shall be concluded for a period of 60 days. They shall be automatically renewed for 60-day periods if the party concerned does not, before expiry of the period, ask the intervention agency to cancel the contract, always