No L 196/4 Official Journal of the European Communities 24. 7. 97 COUNCIL REGULATION (EC) No 1414/97 of 22 July 1997 fixing, for the 1997/98 marketing year, the prices, aids and percentages of aid to be retained in the olive oil sector, together with the maximum guarantee quantity THE COUNCIL OF THE EUROPEAN UNION, 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 organization of the market in oils and fats ("), and in par- ticular Articles 4 (4), 5 (1) and 11 (6) thereof, Having regard to the proposal from the Commission (?), Having regard to the opinion of the European Par- liament (%), Having regard to the opinion of the Economic and Social Committee (*), Whereas the target price for olive oil production must be fixed in accordance with the criteria laid down in Articles 4 and 6 of Regulation No 136/66/EEC; Whereas the intervention price must be fixed in accord- ance with the criteria laid down in Article 8 of Regulation No 136/66/EEC; Whereas the representative market price must be fixed according to the criteria laid down in Article 7 of Regula- tion No 136/66/EEC; Whereas, if producers are to receive a fair income, production aid must be fixed in the light of the impact HAS ADOPTED THIS REGULATION: which the consumption aid has on part only of produc- tion; Whereas, in accordance with Articles 5 (4) and 20d (1) of Regulation No 136/66/EEC, the percentages of produc- tion aid to be allocated to finance measures to improve the quality of olive oil production and to finance expendi- ture incurred in the work done by recognized producer organizations or associations thereof in administering and controlling olive oil production aid, should be deter- mined; Whereas, pursuant to Article 11 (5) and (6) of Regulation No 136/66/EEC, a certain percentage of the consumption aid during each olive oil marketing year is to be used, on the one hand, to finance measures by the recognized trade organizations referred to in paragraph 3 of the abovemen- tioned Article and, on the other hand, to finance measures to promote olive oil consumption in the Community; whereas the said percentages for the 1597/58 marketing year should be fixed; whereas having regard to the financing already laid down for the promotion actions referred to in the abovementioned Article 11 (6), the percentage relating thereto is set at zero for the 1997/98 marketing year; Whereas Article 5 (1) of Regulation No 136/66/EEC fixes, for a specified period, the maximum quantity in respect of which the unit amount of production aid fixed for the marketing year in question is to be payable; whereas, in compliance with the terms laid down therein, the maximum quantity applicable for the 1997/98 marketing year should be maintained, Article 1 1. For the 1997/1998 marketing year, the production target price and the intervention price for olive oil shall be as follows: (a) production target price: (b) intervention price: (') OJ No 172, 30. 9. 1966, p. 3025/66. Regulation as last amended by Regulation (EC) No 1581/96 (O] No L 206, 16. 8. 1996, p. 1), () OJ No C 101, 27. 3. 1997, p. 8. () OJ No C 200, 30. 6. 1997, (‘) Opinion delivered on 29 May 1997 (not yet published in the Official Journal). ECU 383,77 per 100 kilograms; ECU 180,58 per 100 kilograms.