30. 7. 94 Official Journal of the European Communities No L 197/23 COUNCIL REGULATION (EC) No 1881/94 of 24 July 1994 amending Regulation (EEC) No 2072/92 fixing the target price for milk and the intervention prices for butter, skimmed-milk powder and Grana Padano and Parmigiano Reggiano cheeses for two annual periods from 1 July 1993 to 30 June 1995 THE COUNCIL OF THE EUROPEAN UNION, Having regard to the Treaty establishing the European Community, and in particular Article 43 thereof, Having regard to the proposal from the Commission (1), Having regard to the opinion of the European Parliament (2), Whereas the market situation for milk and milk products continues to be precarious; whereas the persistent decline in butter consumption in the Community -causes continuing problems on the butter market; whereas the constant rise in the fat content of milk further aggravates the situation; whereas the reduction in the intervention price for butter should be marked by an additional 1 % reduction in order to improve the competitive position of butter and milk fats, encourage their consumption and alter the upward trend in the fat content of milk; whereas it is necessary to fix accordingly the target price for milk - and amend Regulation (EEC) No 2072/92 (3); Whereas Council Regulation (EC) No 1880/94 of 27 July 1994 amending Regulation (EEC) No 804/68 on the common organization of the market in milk and milk products (4) abolishes buying in in respect of Grana Padano and Parmigiano Reggiano cheeses; whereas the intervention prices for those cheeses should accordingly be rescinded, HAS ADOPTED THIS REGULATION: Article 1 In Article 2 of Regulation (EEC) No 2072/92, point 2 is replaced by the following: 2. For the period from 1 July 1994 to 30 June 1995: (ECU/100 kg) (a) Target price for milk 25,66 (b) Intervention price for: — butter 271,80 — skimmed-milk powder 170,20° Article 2 This Regulation shall enter into force on the day of its publication in the Official Journal of the European Communities. It shall apply from 1 August 1994, This Regulation shall be binding in its entirety and directly applicable in all Member States. Done at Brussels, 27 July 1994, (1) OJ No C 83, 19. 3. 1994, p. 33. (2) O No C 128, 9. 5. 1994. (3) OJ No L 215, 30. 7. 1992, p. 65. Regulation as amended by Regulation (EEC) No 1561/93 (O] No L 154, 25. 6. 1993, p. 33). (4) See page 21 of this Official Journal. For the Council The President Th. WAIGEL