EN Official Journal of the European Communities 21.3.2001 L 81/28
COMMISSION REGULATION (EC) No 550/2001
of 20 March 2001
determining the world market price for unginned cotton and the rate for the aid
THE COMMISSION OF THE EUROPEAN COMMUNITIES,
Having regard to the Treaty establishing the European
Community,
Having regard to the Act of Accession of Greece, and in
particular paragraphs 3 and 10 of Protocol 4 on cotton, as lastamended by Council Regulation (EC) No 1553/95 (
1),
Having regard to Council Regulation (EC) No 1554/95 of 29
June 1995 (2) laying down general rules for the system of aid
for cotton and repealing Regulation (EEC) No 2169/81, as lastamended by Regulation (EC) No 1419/98 (
3), and in particular
Articles 3, 4 and 5 thereof,
Whereas:
(1) Article 3 of Regulation (EC) No 1554/95 requires a
world market price for unginned cotton to be period-ically determined from the world market price deter-mined for ginned cotton, using the historicalrelationship between the two prices as specified inArticle 1(2) of Commission Regulation (EEC) No 1201/89 of 3 May 1989 laying down rules for implementingthe system of aid for cotton (
4), as last amended by
Regulation (EC) No 1624/1999 (5). If it cannot be deter-
mined in this way it is to be based on the last pricedetermined.
(2) Article 4 of Regulation (EC) No 1554/95 requires theworld market price for ginned cotton to be determinedfor a product of specific characteristics using the mostfavourable offers and quotations on the world market ofthose considered representative of the real market trend.To this end an average is to be calculated of offers andquotations on one or more European exchanges for a cifproduct to a North European port from the suppliercountries considered most representative as regardsinternational trade. These rules for determination of theworld market price for ginned cotton provide for adjust-ments to reflect differences in product quality and the
nature of offers and quotations. These adjustments arespecified in Article 2 of Regulation (EEC) No 1201/89.
(3) Application of the above rules gives the world marketprice for unginned cotton indicated hereunder.
(4) The second subparagraph of Article 5(3a) of Regulation(EC) No 1554/95 stipulates that the advance paymentrate for the aid is to be the guide price less the worldmarket price and less a further amount calculated by theformula applicable when the guaranteed maximumquantity is based on the revised production estimate forunginned cotton plus at least 7,5 %. Commission Regu-lation (EC) No 2714/2000 (
6) fixes the revised produc-
tion estimate for the 2000/2001 marketing year, and therelevant percentage increase. The application of thismethod results in the fixing of the advance payment ratefor each Member State at the levels set out below,
HAS ADOPTED THIS REGULATION:
Article 1
1. The world market price for unginned cotton as indicated
in Article 3 of Regulation (EC) No 1554/95 is set at32,200 EUR/100 kg.
2. The advance payment of the aid referred to in Article
5(3a), second subparagraph, of Regulation (EC) No 1554/95 isfixed at:
— 59,537 EUR/100 kg in Spain,— 35,088 EUR/100 kg in Greece,— 74,100 EUR/100 kg in other Member States.
Article 2
This Regulation shall enter into force on 21 March 2001.
(1) OJ L 148, 30.6.1995, p. 45.
(2) OJ L 148, 30.6.1995, p. 48.
(3) OJ L 190, 4.7.1998, p. 4.
(4) OJ L 123, 4.5.1989, p. 23.
(5) OJ L 192, 24.7.1999, p. 39. (6) OJ L 313, 13.12.2000, p. 7.
EN Official Journal of the European Communities 21.3.2001 L 81/29
This Regulation shall be binding in its entirety and directly applicable in all Member States.
Done at Brussels, 20 March 2001.
For the Commission
Franz FISCHLER
Member of the Commission