NoL254/47 1.9.92 OfficialJournaloftheEuropeanCommunities
COMMISSION REGULATION (EEC)No2539/92
of31August1992
fixingtheaidforcotton
Whereastheworldmarketpriceforunginnedcottonis
equaltothesumofthevaluesforginnedcottonand
cottonseeddefinedinArticle1ofCommissionRegula­
tion(EEC)No1201/89of3May1989layingdownrules
implementing thesystemofaidforcotton(*),aslast
amendedbyRegulation(EEC)No2328/92(*),minusthe
costofginning;
Whereastheabovevaluesareestablishedonthebasisof
thepricesdeterminedinaccordancewithArticles2and3
ofCommissionRegulation(EEC)No1201/89;whereas
theworldmarketpriceisdeterminedonthebasisofthe
mostfavourableoffersandquotationsrecorded,excluding
offersandquotationswhichcannotberegardedasrepre­
sentativeoftherealmarkettrend;
Whereasthenecessaryadjustmentsmustbemadeincases
wheretheoffersandquotationsrecordeddonotsatisfy
therequirementsindicatedabove;THECOMMISSION OFTHEEUROPEAN COMMUNITIES ,
HavingregardtotheTreatyestablishingtheEuropean
EconomicCommunity,
HavingregardtotheActofAccessionofSpainand
Portugal,
HavingregardtotheActofAccessionofGreece,andin
particularparagraphs3and10ofProtocol4oncotton
annexedthereto,asamendedbyProtocol14annexedto
theActofAccessionofSpainandofPortugal,andRegu­
lation(EEC)No4006/87('),
HavingregardtoCouncilRegulation(EEC)No2169/81
of27July1981layingdownthegeneralrulesforthe
systemofaidforcotton(2),aslastamendedbyRegulation
(EEC)No2053/92(3),andinparticularArticle5(1)
thereof,
Whereas,pursuanttoArticle5ofRegulation(EEC)No
2169/81,aidmustbegrantedforunginnedcotton
harvestedintheCommunitywhentheworldmarket
priceforunginnedcottonisbelowtheguideprice;
Whereastheaidisequaltothedifferencebetweenthese
twoprices;
Whereastheguidepriceforcottonhasbeenfixedby
CouncilRegulation(EEC)No2055/92forthe1992/93
marketingyear(4);
Whereastheabatementofthesubsidywhicharisesfrom
thesystemofmaximumguaranteedquantitiesforthe
1992/1993marketingyear,hasbeenfixedandsetatECU
15,419per100kg;
Whereastheworldmarketpriceforunginnedcottonis
determinedperiodicallyonthebasisoftheworldmarket
pricesrecordedforginnedcottonandcottonseed,taking
intoaccounttheestimatedyieldoftheCommunity
harvestincottonseedandinginnedcottonandalsothe
netcostofginning;
Whereastheworldmarketpriceforginnedcottonand
cottonseedisdeterminedinaccordancewithArticle4of
Regulation(EEC)No2169/81;
Whereas,iftheworldmarketpriceforunginnedcotton
cannotbedeterminedasdescribedabove,thispriceshall
beestablishedonthebasisofthemostrecentpricedeter­
mined;Whereas,pursuanttoArticle4(4)ofRegulation(EEC)No
2169/81,iftherearenosuitableoffersorquotationsfor
determiningtheworldmarketpriceforcottonseed,that
priceshallbeestablishedonthebasisofthemost
favourableoffersandquotationsforcottonseedrecorded
ontheCommunitymarketor,ifthoseoffersandquota­
tionscannotbeestablishedonthebasisofthevalueof
theproductsobtainedfromprocessingtheseedinthe
Community ,lesstheprocessingcost;whereasthisvalue
isdeterminedinaccordancewithArticle4ofRegulation
(EEC)No1201/89;
Whereas,ifthesubsidysystemistooperatenormally,
subsidiesshouldbecalculatedonthefollowingbasis:
—inthecaseofcurrencieswhicharemaintainedinrela­
tiontoeachotheratanygivenmomentwithinaband
of2,25%,arateofexchangebasedontheircentral
rate,multipliedbythecorrectivefactorprovidedforin
thelastparagraphofArticle3(1)ofCouncilRegula­
tion(EEC)No1676/85Q,aslastamendedbyRegula­
tion(EEC)No2205/90(8),
—fortheothercurrencies,anexchangeratebasedonan
averageoftheecuratespublishedintheOfficial
JournaloftheEuropeanCommunities ,Cseries,over
aperiodtobedetermined ,multipliedbythecoeffi­
cientreferredtointheprecedingindent;
(')OJNoL377,31.12.1987,p.49.0OJNoL211,31.7.1981,p.2.
(3)OJNoL215,30.7.1992,p.12.
(4OJNoL215,30.7.1992,p.14.0OJNoL123,4.5.1989,p.23.
(6)OJNoL223,8.8.1992,p.15.oOJNoL164,24.6.1985,p.1.
(8)OJNoL201,31.7.1990,p.9.

NoL254/48 OfficialJournaloftheEuropeanCommunities 1.9.92
Whereastheaidmustbefixedonceamonth,andinsuch
awaythatitcanbeappliedfromthefirstdayofthe
monthfollowingthedateoffixing;whereasitmaybe
alteredbetweenfixings;HASADOPTEDTHISREGULATION :
Article1
TheaidforunginnedcottonprovidedforinArticle5of
Regulation(EEC)No2169/81shallbeECU75,036per
100kilograms.
whereasitfollowsfromapplyingtheseprovisionstothe
offersandquotationsknowntotheCommissionthatthe
aidforcottonshouldbeassetoutinthisRegulation,Article2
ThisRegulationshallenterintoforceon1September
1992.
ThisRegulationshallbebindinginitsentiretyanddirectlyapplicableinallMember
States.
DoneatBrussels,31August1992.
FortheCommission
RayMACSHARRY
MemberoftheCommission