Article 13 of Regulation (EC) No 1784/2003 provides that the difference between quotations or prices on the world market for the products listed in Article 1 of that Regulation and prices for those products within the Community may be covered by an export refund.

The refund applicable in the case of malts must be calculated with amount taken of the quantity of cereals required to manufacture the products in question. The said quantities are laid down in Regulation (EC) No 1501/95.

The world market situation or the specific requirements of certain markets may make it necessary to vary the refund for certain products according to destination.

The refund must be fixed once a month. It may be altered in the intervening period.

It follows from applying these rules to the present situation on markets in cereals, and in particular to quotations or prices for these products within the Community and on the world market, that the refunds should be as set out in the Annex hereto.

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