1.10.88 OfficialJournaloftheEuropeanCommunities NoL271/69
COMMISSION REGULATION (EEC)No3026/88
of30September1988
fixingtheaidforcotton
Whereas,iftheworldmarketpriceforunginnedcotton
cannotbedetermined .asdescribedabove,thispriceshall
beestablishedonthebasisofthemostrecentpricedeter­
mined:
whereastheworldmarketpriceforunginnedcottonis
equaltothesumofthevaluesforginnedcottonand
cottonseeddefinedinArticle1ofCommissionRegula­
tion(EEC)No2183/81of30July1981layingdownrules
implementing thesystemofaidforcotton(%aslast
amendedbyRegulation(EEC)No2993/88(J),minusthe
costofginning;
Whereastheabovevaluesareestablishedonthebasisof
thepricesdeterminedinaccordancewithArticles2and3
ofCommissionRegulation(EEC)No2183/81;whereas
theworldmarketpriceisdeterminedonthebasisofthe
mostfavourableoffersandquotationsrecorded,excluding
offersandquotationswhichcannotberegardedasrepre­
sentativeoftherealmarkettrend;THECOMMISSION OFTHEEUROPEAN COMMUNITIES ,
HavingregardtotheTreatyestablishingtheEuropean
EconomicCommunity,
HavingregardtotheActofAccessionofSpainand
Portugal,
HavingregardtotheActofAccessionofGreece,andin
particularparagraphs3and10ofProtocol4oncotton
annexedthereto,asamendedbyProtocol14annexedto
theActofAccessionofSpainandofPortugal,andRegu­
lation(CEE)No-4006/87('),
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(*)asregardscottonseed;
Whereastheworldmarketpriceforunginnedcottonis
determinedperiodicallyonthebasisoftheworldmarket
pricesrecordedforginnedcottonandcottonseed,taking
intoaccounttheestimatedyieldoftheCommunity
harvestincottonseedandinginnedcottonandalsothe
netcostofginning;
Whereastheworldmarketpriceforginnedcottonand
cottonseedisdeterminedinaccordancewithArticle4of
Regulation(EEC)No2169/81;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)No2183/81;
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.
I2)OJNoL211,31.7.1981,p.2.
(3)OJNoL199,26.7.1988,p.8.(*)OJNoL211,31.7.1981,p.35.oOJNoL270,30.9.1988,p.61.
(")OJNoL164,24.6.1985,p.1.0OJNoL153,13.6.1987,p.1.(4)OJNoL199,26.7.1988,p.6.
(0OJNoL241,1.9.1988,p.104.

NoL271/70 OfficialJournaloftheEuropeanCommunities 1.10.88
HASADOPTEDTHISREGULATION :
Article1
TheaidforunginnedcottonprovidedforinArticle5of
Regulation(EEC)No2169/81shallbe55,442ECUper
100kilograms.—forothercurrencies,anexchangeratebasedonthe
arithmeticmeanofthespotmarketratesofeachof
thesecurrenciesrecordedoveragivenperiodinrela­
tiontotheCommunitycurrenciesreferredtointhe
previousindent,andtheaforesaidcoefficient ;
Whereastheaidmustbefixedonceamonth,andinsuch
awaythatitcanbeappliedfromthefirstdayofthe
monthfollowingthedateoffixing;whereasitmaybe
alteredbetweenfixings;
WhereastheaidforcottonwasfixedlatterlybyRegula­
tion(EEC)No2710/88(');whereasthechangeinthe
worldmarketpriceforcottonleadstoanadjustmentof
theaid;whereasitwasnotedthatthechangetookplace
on19September1988;whereasprovisionshouldaccor­
dinglythereforebemadetoadjusttheaidfromthatdate;
Whereasitfollowsfromapplyingtheseprovisionstothe
offersandquotationsknowntotheCommissionthatthe
aidforcottonshouldbeassetoutinthisRegulation,Article2
ThisRegulationshallenterintoforceonthedayofits
publicationintheOfficialJournaloftheEuropean
Communities .
Itshallapplywitheffectfrom19September1988.
ThisRegulationshallbebindinginitsentiretyanddirectlyapplicableinallMember
States. \
DoneatBrussels,30September1988.
FortheCommission
FransANDRIESSEN
Vice-President
(')OJNoL241,1.9.1988,p.56.