Introductory text

THE COMMISSION OF THE EUROPEAN COMMUNITIES,

Having regard to the Treaty establishing the European Community,

Having regard to Council Regulation (EC) No 1255/1999 of 17 May 1999 on the common organisation of the market in milk and milk products^f1,

Having regard to Commission Regulation (EC) No 2771/1999 of 16 December 1999 laying down detailed rules for the application of Council Regulation (EC) No 1255/1999 as regards intervention on the market in butter and cream^f2, and in particular Article 2 thereof,

Whereas:

Article 6(1) of Regulation (EC) No 1255/1999 provides that if market prices for butter in one or more Member States, over a representative period, are less than 92 % of the intervention price, intervention agencies have to buy in butter.

On the basis of the market prices communicated by the Members States, the Commission has observed, in accordance with Article 8(4) of Regulation (EC) No 2771/1999, that the prices in Spain, Ireland and Portugal have been below 92 % of the intervention price for two consecutive weeks. Intervention buying-in should therefore be opened in those Member States,

HAS ADOPTED THIS REGULATION: