L 12/10 Official Journal of the European Communities 17.1.2003 COMMISSION REGULATION (EC) No 70/2003 of 16 January 2003 fixing the export refunds on malt THE COMMISSION OF THE EUROPEAN COMMUNITIES, (4)  The world market situation or the specific requirements Having regard to the Treaty establishing the European Community, Having regard to Council Regulation (EEC) No 1766/92 of 30 June 1992 on the common organization of the market in cereals (1), as last amended by Regulation (EC) No 1666/ 2000 (3, and in particular the third subparagraph of Article 13(2) thereof, Whereas: (1)  Article 13 of Regulation (EEC) No 1766/92 provides that the difference between quotations or prices on the world market for the products listed in Article 1 of that Regu- lation and prices for those products within the Commu- nity may be covered by an export refund. (2)  The refunds must be fixed taking into account the factors referred to in Article 1 of Commission Regula- tion (EC) No 1501/95 of 29 June 1995 laying down certain detailed rules under Council Regulation (EEC) No 1766/92 on the granting of export refunds on cereals and the measures to be taken in the event of disturbance on the market for cereals (), as last amended by Regula- tion (EC) No 1163/2002 (%), as amended by Regulation (EC) No 1324/2002 (). (3)  The refund applicable in the case of malts must be calcu- lated with amount taken of the quantity of cereals required to manufacture the products in question. The said quantities are laid down in Regulation (EC) No 1501/95. of certain markets may make it necessary to vary the refund for certain products according to destination. (5)  The refund must be fixed once a month. It may be altered in the intervening period. (6) It follows from applying these rules to the present situa- tion on markets in cereals, and in particular to quota- tions or prices for these products within the Community and on the world market, that the refunds should be as set out in the Annex hereto. (7)  The measures provided for in this Regulation are in accordance with the opinion of the Management Committee for Cereals, HAS ADOPTED THIS REGULATION: Atrticle 1 The export refunds on malt listed in Article 1(1)(c) of Regula- tion (EEC) No 1766/92 shall be as set out in the Annex hereto. Atticle 2 This Regulation shall enter into force on 17 January 2003. This Regulation shall be binding in its entirety and directly applicable in all Member States. Done at Brussels, 16 January 2003. 1 () OJ L 181, 1.7.1992, p. 21. () OJ L 193, 29.7.2000, p. 1. () OJ L 147, 30.6.1995, p. 7. () OJ L 170, 29.6.2002, p. 46. () OJ L 194, 23.7.2002, p. 26. 5 For the Commission Franz FISCHLER Member of the Commission