NoL230/22 OfficialJournaloftheEuropeanCommunities 13.8.92
COMMISSION REGULATION (EEC)No2368/92
of12August1992
fixingtheaidforcotton
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);
Whereastheabatementofthesubsidywhicharises,where
appropriate,fromthesystemofmaximumguaranteed
quantitiesforthe1992/1993marketingyear,hasnot,to
date,beenfixed;whereasthisprovisionalabatement
shouldbefixedtakingaccountofthe15%limitreferred
tointhefirstsubparagraphofArticle3(2)ofCouncil
Regulation(EEC)No1964/87(%aslastamendedby
Regulation(EEC)No2052/92(6),andtheharvestfore­
casts;whereastheabatementshouldthereforebesetat,
ECU15419per100kg;
Whereastheworldmarketpriceforunginnedcottonis
determinedperiodicallyonthebasisoftheworldmarket
pricesrecordedforginnedcottonandcottonseed,taking
intoaccounttheestimatedyieldoftheCommunity
harvestincottonseedandinginnedcottonandalsothe
netcostofginning;Whereastheworldmarketpriceforginnedcottonand
cottonseedisdeterminedinaccordancewithArticle4of
Regulation(EEC)No2169/81;
Whereas,iftheworldmarketpriceforunginnedcotton
cannotbedeterminedasdescribedabove,thispriceshall
beestablishedonthebasisofthemostrecentpricedeter­
mined;
Whereastheworldmarketpriceforunginnedcottonis
equaltothesumofthevaluesforginnedcottonand
cottonseeddefinedinArticle1ofCommissionRegula­
tion(EEC)No1201/89of3May1989layingdownrules
implementing thesystemofaidforcottonQ,aslast
amendedbyRegulation(EEC)No2756/91(8),minusthe
costofginning;
Whereastheabovevaluesareestablishedonthebasisof
thepricesdeterminedinaccordancewithArticles2and3
ofCommissionRegulation(EEC)No1201/89;whereas
theworldmarketpriceisdeterminedonthebasisofthe
mostfavourableoffersandquotationsrecorded,excluding
offersandquotationswhichcannotberegardedasrepre­
sentativeoftherealmarkettrend;
Whereasthenecessaryadjustmentsmustbemadeincases
wheretheoffersandquotationsrecordeddonotsatisfy
therequirementsindicatedabove;
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)No1676/85('),aslastamendedbyRegula­
tion(EEC)No2205/90(10),
(')OJNoL377,31.12.1987,p.49.0OJNoL211,31.7.1981,p.2.0OJNoL215,30.7.1992,p.12. OOJNoL123,4.5.1989,p.23.
(8)OJNoL264,20.9.1991,p.21.0OJNoL164,24.6.1985,p.1.
(10)OJNoL201,31.7.1990,p.9.(4)OJNoL215,30..7.1992,p.14.0OJNoL184,3.7.1987,p.14.
(6)OJNoL215,30.7.1992,p.10.

13.8.92 OfficialJournaloftheEuropeanCommunities NoL230/23
—fortheothercurrencies,anexchangeratebasedonan
averageoftheecuratespublishedintheOfficial
JournaloftheEuropeanCommunities ,Cseries,over
aperiodtobedetermined,multipliedbythecoeffi­
cientreferredtointheprecedingindent;
Whereastheaidmustbefixedonceamonth,andinsuch
awaythatitcanbeappliedfromthefirstdayofthe
monthfollowingthedateoffixing;whereasitmaybe
alteredbetweenfixings;
Whereasitfollowsfromapplyingtheseprovisionstothe
offersandQuotationsknowntotheCommissionthatthe
aidforcottonshouldbeassetoutinthisRegulation,HASADOPTEDTHISREGULATION :
Article1
1.TheaidforunginnedcottonprovidedforinArticle
5ofRegulation(EEC)No2169/81shallbeECU73,290
per100kilograms.
2.However,theamountoftheaidwillbeconfirmedor
replacedwitheffectfrom13August1992,whichappear
tohavebeenofferedinthelargestquantities.
Article2
ThisRegulationshallenterintoforceon13August1992.
ThisRegulationshallbebindinginitsentiretyanddirectlyapplicableinallMember
States.
DoneatBrussels,12August1992.
FortheCommission
RayMACSHARRY
MemberoftheCommission