NoL241/56 OfficialJournaloftheEuropeanCommunities 1.9.88
COMMISSION REGULATION (EEC)No2710/88
of31August1988
fixingtheaidforcotton
Whereas,iftheworldmarketpriceforunginnedcotton
cannotbedeterminedasdescribedabove,thispricfeshall
beestablishedonthebasisofthemostrecentpricedeter­
mined:
Whereastheworldmarketpriceforunginnedcottonis
equaltothesumofthevaluesforginnedcottonand
cottonseeddefinedinArticle1ofCommissionRegula­
tion(EEC)No2183/81of30July1981layingdownrules
implementing thesystemofaidforcotton(6),aslast
amendedbyRegulation(EEC)No2118/88Q,minusthe
costofginning;
Whereastheabovevaluesareestablishedonthebasisof
thepricesdeterminedinaccordancewithArticles2and3
ofCommissionRegulation(EEC)No2183/81;whereas
theworldmarketpriceisdeterminedonthebasisofthe
mostfavourableoffersandquotationsrecorded,excluding
offersandquotationswhichcannotberegardedasrepre­
sentativeoftherealmarkettrend;
Whereasthenecessaryadjustmentsmustbemadeincases
wheretheoffersandquotationsrecordeddonotsatisfy
therequirementsindicatedabove;
Whereas,underArticle4(4)ofRegulation(EEC)No
2169/81,iftherearenosuitableoffersorquotationsfor
determiningtheworldmarketpriceforcottonseed,that
priceshallbeestablishedonthebasisofthemost
favourableoffersandquotationsforcottonseedrecorded
ontheCommunitymarketor,ifthoseoffersandquota­
tionscannotbeestablishedonthebasisofthevalueof
theproductsobtainedfromprocessingtheseedinthe
Community ,lesstheprocessingcost;whereasthisvalue
isdeterminedinaccordancewithArticle4ofRegulation
(EEC)No'2183/81;THECOMMISSION OFTHEEUROPEANCOMMUNITIES ,
HavingregardtotheTreatyestablishingtheEuropean
EconomicCommunity ,
HavingregardtotheActofAccessionofSpainand
Portugal,
HavingregardtotheActofAccessionofGreece,andin
particularparagraphs3and10ofProtocol4oncotton
annexedthereto,asamendedbyProtocol14annexedto
theActofAccessionofSpainandofPortugal,andRegu­
lation(CEE)No4006/87('),
HavingregardtoCouncilRegulation(EEC)No2169/81
of27July1981layingdownthegeneralrulesforthe
systemofaidforcotton(2),aslastamendedbyRegulation
(EEC)No2261/88(3),andinparticularArticle5(1)
thereof,
HavingregardtotheopinionoftheMonetaryCommittee ,
Whereas,underArticle5ofRegulation (EEC)No
2169/81,aidmustbegrantedforunginnedcotton
harvestedintheCommunitywhentheworldmarket
priceforunginnedcottonisbelowtheguideprice;
Whereastheaidisequaltothedifferencebetweenthese
twoprices;
Whereastheguidepriceforthe1988/89marketingyear
wasfixedbyCouncilRegulation(EEC)No2259/88(4);
Whereas,underthesystemofmaximumguaranteed
quantities,theamountoftheaidissubjecttothereduc­
tionprovidedforinCommissionRegulation(EEC)No
2727/88(5)asregardscottonseed;
Whereastheworldmarketpriceforunginnedcottonis
determinedperiodicallyonthebasisoftheworldmarket
pricesrecordedforginnedcottonandcottonseed,taking
intoaccounttheestimatedyieldoftheCommunity
harvestincottonseedandinginnedcottonandalsothe
netcostofginning;
Whereastheworldmarketpriceforginnedcottonand
cottonseedisdeterminedinaccordancewithArticle4of
Regulation(EEC)No2169/81;Whereas,ifthesubsidysystemistooperatenormally,
subsidiesshouldbecalculatedonthefollowingbasis:
inthecaseofcurrencieswhicharemaintainedinrela­
tiontoeachotheratanygivenmomentwithinaband
of2,25%,arateofexchangebasedontheircentral
rate,multipliedbythecorrectivefactorprovidedforin
thelastparagraphofArticle3(1)ofCouncilRegula­
tion(EEC)No1676/85(8),aslastamendedbyRegula­
tion(EEC)No1636/87(9),
(')OJNoL377,31.12.1987,p.48.0OJNoL211,31.7.1981,p.2.0OJNoL199,26.7.1988,p.8.
(<)OJNoL199,26.7.1988,p.6.
(^Seepage104ofthisOfficialJournal.(*)OJNoL211,31.7.1981,p.35.
OOJNoL186,16.7.1988,p.21.
(■)OJNoL164,24.6.1985,p.1.0OJNoL153,13.6.1987,p.1.

1.9.88 OfficialJournaloftheEuropeanCommunities NoL241/57
HASADOPTEDTHISREGULATION :
Article1—forothercurrencies,anexchangeratebasedonthe
arithmeticmeanofthespotmarketratesofeachof
thesecurrenciesrecordedoveragivenperiodinrela­
tiontotheCommunitycurrenciesreferredtointhe
previousindent,andtheaforesaidcoefficient ;
Whereastheaidmustbefixedonceamonth,andinsuch
awaythatitcanbeappliedfromthefirstdayofthe
monthfollowingthedateoffixing;whereasitmaybe
alteredbetweenfixings;
Whereasitfollowsfromapplyingtheseprovisionstothe
offersandquotationsknowntotheCommissionthatthe
aidforcottonshouldbeassetoutinthisRegulation,TheaidforunginnedcottonprovidedforinArticle5of
Regulation(EEC)No2169/81shallbe50,532ECUper
100kilograms.
Article2
ThisRegulationshallenterintoforceon1September
1988.
ThisRegulationshallbebindinginitsentiretyanddirectlyapplicableinallMember
States.
DoneatBrussels,31August1988.
FortheCommission
FransANDRIESSEN
Vice-President