(1)

Commission Regulation (EC) No 712/2007 (2) opened standing invitations to tender for the resale on the Community market of cereals held by the intervention agencies of the Member States. Article 2 of the said Regulation stipulates that operators’ tenders must be accompanied by a security of EUR 10 per tonne, notwithstanding the second subparagraph of Article 13(4) of Commission Regulation (EEC) No 2131/93 of 28 July 1993 laying down the procedures and conditions for the sale of cereals held by intervention agencies (3).

(2)

The Community market has seen a dramatic overall rise in cereal prices since the start of the 2007/08 marketing year. Nevertheless, this rise has not been constant; prices have fluctuated significantly, resulting in at times great disparity between the falling prices on the Community market and the prices at which products are sold during tender procedures upon their release from intervention storage. On the basis of these disparities, it transpires that the lots awarded are not being removed by the operators to which awards are made. The security of EUR 10 per tonne currently in place is therefore not sufficient to ensure that these lots are removed. In order to avoid this situation and to ensure the smooth running of the tendering process covered by Regulation (EC) No 712/2007, the security should be increased.

(3)

Regulation (EC) No 712/2007 should be amended accordingly.

(4)

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