Article 1Article 10(2) of Regulation (EC) No 990/2006 is hereby replaced...
Article 2This Regulation shall enter into force on the third day...

Commission Regulation (EC) No 37/2007

of 17 January 2007

amending Regulation (EC) No 990/2006 opening standing invitations to tender for the export of cereals held by the intervention agencies of the Member States

THE COMMISSION OF THE EUROPEAN COMMUNITIES,

Having regard to the Treaty establishing the European Community,

Having regard to Council Regulation (EC) No 1784/2003 of 29 September 2003 on the common organisation of the market in cereals1, and in particular Article 6 thereof,

Whereas:

(1)
Article 10(2) of Regulation (EC) No 990/20062 requires the obligation to export to be covered by a security equal to the difference between the intervention price applying on the day of the award and the price awarded, but not less than EUR 25 per tonne.
(2)

The comparative situation of the prices of rye on the export market and internal market might make it financially attractive for those operators who successfully tender for the lots of rye for export to sell it instead on the internal market, even if by so doing they lose the security. In order to avoid this situation and to ensure that the tendering process covered by Regulation (EC) No 990/2006 works effectively, the security for rye should be increased.

(3)

Regulation (EC) No 990/2006 should be amended accordingly.

(4)

The measures provided for in this Regulation are in accordance with the opinion of the Management Committee for Cereals,

HAS ADOPTED THIS REGULATION: