No L 108/106 Official Journal of the Buropean Communities 1. 5.93 COMMISSION REGULATION (EEC) No 1068/93 of 30 April 1993 on detailed rules for determining and applying the agricultural conversion rates THE COMMISSION OF THE EUROPEAN COMMUNITIES, Having regard to the Treaty establishing the European Economic Community, Having regard to Council Regulation (EEC) No 3813/92 of 28 December 1992 on the value of the unit of account and the conversion rates to be applied for the purposes of the common agricultural policy ('), and in particular point (d) of Article 1 and Articles 3 (3), 4 (2), 5 (3), 6 (2) and 12 thereof, Whereas it has been found that certain aspects of Commission Regulation (EEC) No 3819/92 of 28 December 1992 on detailed rules for determining and applying the agricultural conversion rates(?) must be expanded and made more explicit; whereas, in order to facilitate implementation of the agrimonetary arrange- ments, that Regulation should be repealed and the rele- vant provisions should be amended and expanded and included in a single Regulation; Whereas the representative market rates defined in Article 1 of Regulation (EEC) No 3813/92 are used to convert amounts expressed in the national currencies of third countries and form the basis for fixing the agricul- tural conversion rates for Member States’ currencies; whereas it is necessary to define the rules for their calcu- lation in the case of floating currencies and in particular in respect of third countries’ currencies whose value in ecus is not published in the Official Journal of the Euro- pean Communities ; Whereas, in order to provide better information to traders and to avoid the risks of market distortion, the representa- tive market rates for floating currencies should be adjusted on fixed dates immediately following the end of each basic reference period; whereas, however, in the event of major currency fluctuations the representative market rates of currencies fluctuating outside certain limits need to be established quickly on the basis of a brief reference period ; Whereas, in order to guarantee a uniform approach throughout the Community and to simplify administra- tion of trade arrangements, the rates fixed by Commission Regulation (EEC) No 1766/85 of 27 June 1985 on the rates of exchange to be used in the determination of () OJ No L 387, 31. 12. 1992, p. 1. () OJ No L 387, 31. 12. 1992, p. 17. customs value(’), as amended by Regulation (EEC) No 593/91 (%), should be used by Member States to convert amounts expressed in third countries’ currencies directly into their own national currency; Whereas the agricultural conversion rate should be appli- cable as quickly as possible after the reference period on the basis of which it is calculated in order to avoid risks of market distortion or commercially unjustified profit- taking ; whereas the agricultural conversion rate appli- cable at the beginning of a month should be adjusted in order to take account.of the development of the represen- tative market rate in the event of major currency fluctua- tions ; Whereas the order of adjustments to agricultural conver- sion rates should be indicated if they occur simul- taneously, except as part of a currency realignment; whereas, in accordance with Article 4 (3) of Regulation (EEC) No 3813/92, priority should be accorded to the adjustment of the agricultural conversion rate referred to in paragraph 1 of that Article and then, if relevant, to that referred to in paragraph 3 of that Article, taking account of the basic reference period ; whereas the same priority shall then apply taking account of the result thus obtained and of the derogation referred to in Article 2 (2); Whereas data for the world market must be established in ecus at frequent intervals and with a high degree of accu- racy ; whereas in respect of those data expressed in the national currencies of Member States a special agricultural conversion rate equal to the representative market rate should be used; o Whereas in the event of a currency realignment the reference period used to establish the new agricultural conversion rates for floating currencies must be as brief as possible in order to prevent speculative movements of products ; whereas, in order to alter agricultural conver- sion rates quickly, the Commission should fix the new rates for fixed currencies at the same time as those for floating currencies in accordance with the minimum dismantlements stipulated by Article 4 (2) of Regulation (EEC) No 3813/92; whereas, in order to achieve the objective in pursuit of which the correcting factor was introduced, changes in agricultural conversion rates caused by roundings-off in the calculation of the repre- sentative market rate for the fixed currencies which undergo the greatest revaluation should be avoided ; () OJ No L 168, 26. 6. 1985, p. 21. () OJ No L 66, 13. 3. 1991, p. 14.