L 160/48 Official Journal of the European Communities 26.6.1999 COUNCIL REGULATION (EC) No 1255/1999 of 17 May 1999 on the common organisation of the market in milk and milk products THE COUNCIL OF THE EUROPEAN UNION, Having regard to the Treaty establishing the European Community, and in particular Articles 36 and 37 thereof, Having reard to the proposal from the Commission (1), Having regard to the opinion of the European Parliament (), Having regard to the opinion of the Economic and Social Committee (3), Having regard to the opinion of the Committee of the Regions (4), Having regard to the opinion of the Court of Auditors (3), (1) Whereas the operation and development of the common market in agricultural products should be accompanied by the establishment of a common agricultural policy to include in particular a common organisation of agricultural markets which may take various forms depending on the product; Whereas the aim of the common agricultural policy is to attain the objectives set out in Article 33 of the Treaty; whereas, in the milk sector, in order to stabilise markets and to ensure a fair standard of living for the agriculture community, it is necessary that the intervention agencies, based on a single price system, may take intervention measures on the market including the buying-in of butter and skimmed milk powder and the grant of private storage 0] C 170, 4.6.1998, p. 38. Opinion delivered on 6 May 1999 (not yet published in the Official Journal). QO] C 407, 28.12.1998, p. 203. 0] C 93, 6.4.1999, p. 1. O] C 401, 22.12.1998, p. 3. aids for these products; whereas, however, such measures should be standardised so as not to impede the free movement of goods in question within the Community; (3) Whereas by Council Regulation (EEC) No 3950/ 92 of 28 December 1992 establishing an additional levy in the milk and milk products sector (°), an additional levy scheme for the market of milk and milk products was introduced for the purpose of reducing the imbalance between supply and demand on the milk and milk-product market and resulting structural surpluses; whereas this scheme will apply for eight new consecutive periods of 12 months commencing on 1 April 2000; (4) Whereas in order to stimulate the consumption of milk and milk products within the Community and to improve the competitiveness of these products on the international markets, the level of market support should be reduced, in particular, through a gradual reduction of the target prices and intervention prices for butter and skimmed milk powder starting from 1 July 2005; (5) Whereas the implementation of an intervention system for butter should maintain the competitive position of butter on the market and provide for the most efficient possible storage; whereas the quality requirements to be observed in respect of butter constitute a determining factor for attaining these objectives; whereas buying into intervention should take place in so far as it is necessary to maintain the stability of the market by reference to the market price of butter in the Member States, and should be carried out under a tendering procedure; (6) Whereas, in the case of private storage aid for butter, it is appropriate to subject its grant to butter produced from cream and milk of Community origin and to maintain a reference to national quality grades as a condition of eligibility; OJ L 405, 31.12.1992, p. 1. Regulation as last amended by Regulation (EC) No 1256/1999 (see page 73 of this Official Journal).