29. 3. 89 Official Journal of the European Communities No L 84/7 COUNCIL REGULATION (EEC) No 767/89 ’ of 20 March 1989 fixing the intervention price for butter from 1 April 1989 THE COUNCIL OF THE EUROPEAN COMMUNITIES, Having regard to the Treaty establishing the European Economic Community,- and -in particular Article 43 thereof, : Having regard to the Act- of Accession of Spain and Portugal, and in particular Article 89 (1) thereof, Having regard to Council Regulation (EEC) No 804/68 of 27 June 1968 on the common organization of the market in milk and milk Regulation. (EEC) No 763/89 (3, and in particular Article 5 (1) thereof, Having regard to the prbposal from the Commission (%), Having regard to the opinion of the European Parliament (%), Having regard to the opinion of the Economic and Social Committee (%), Whereas Regulation (EEC) No 2233/88 (¢) fixes for the 1988/89 milk year, the target price for milk and the intervention prices for butter, skimmed-milk powder and Grana Padano and Parmigiano Reggiano cheeses; products (), as last amended by Whereas the market situation- has changed since that Regulation was adopted, in particular as a result of a rapid reduction in butter stocks; whereas in order to prevent those stocks - from building up again, the intervention price for butter should be reduced, HAS ADOPTED THIS REGULATION : Article 1 With effect from:1 April 1989 the intervention price for butter shall be ECU 306,94 per 100 kilograms for the Community of Ten and ECU 332,87 per 100 kilograms for Spain. Article 2 This Regulation shall enter-into force on the day of its publication - in the Official Journal of the European Communities.. This Regulation shall be-binding in its entirety and directly applicable in all Member States. Done at Brussels, 20 March 1989. () OJ No L 148, 28. 6. 1968, p. 13. (%) See page 1 of this Official Journal. () OJ No C 265,-12. 10. 1988, p. 6. () OJ-No C 12, 16. 1. 1989. (9-OJ No C 337,731 12.71988, p. 16. () O No L 197, 26. 7. 1988, p. 34. For the Council The President C. ROMERO HERRERA™