NoL239/26EN OfficialJournaloftheEuropeanCommunities 30.8.97
COMMISSION REGULATION (EC)No1700/97
of29August1997
determiningtheworldmarketpriceforunginnedcottonandtheratefortheaid
THECOMMISSION OFTHEEUROPEAN COMMUNITIES ,
HavingregardtotheTreatyestablishingtheEuropean
Community ,ferencesinproductqualityandthenatureofoffersand
quotations;whereastheseadjustmentsarespecifiedin
Article2ofRegulation(EEC)No1201/89;
Whereasapplicationoftheaboverulesgivestheworld
marketpriceforunginnedcottonindicatedhereunder,
WhereasArticle5(3)ofRegulation(EC)No1554/95
stipulatesthattheadvancepaymentratefortheaidisto
betheguidepricelesstheworldmarketpriceandlessa
furtheramountcalculatedbytheformulaapplicablewhen
theguaranteedmaximumquantityisoverunbutwitha
15%increaseintheestimateforunginnedcotton
production;whereasCommissionRegulation(EC)No
1670/97(6)determinedestimatedproductionforthe
1997/98marketingyear,whereasapplicationofthese
rulesgivestheadvancepaymentratesforeachMember
Stateindicatedhereunder,HavingregardtotheActofAccessionofGreece,andin
particularparagraphs3and10ofProtocol4oncotton,as
lastamendedbyCouncilRegulation(EC)No1553/95('),
HavingregardtoCouncilRegulation(EC)No1554/95of
29June1995(2)layingdowngeneralrulesforthesystem
ofaidforcottonandrepealingRegulation(EEC)No
2169/81,asamendedbyRegulation(EC)No1584/96(3),
andinparticularArticles3,4and5thereof,
HASADOPTEDTHISREGULATION :
Article1WhereasArticle3ofRegulation (EC)No1554/95
requiresaworldmarketpriceforunginnedcottontobe
periodicallydeterminedfromtheworldmarketprice
determinedforginnedcotton,usingthehistoricalrela­
tionshipbetweenthetwopricesasspecifiedinArticle1
(2)ofCommissionRegulation(EEC)No1201/89of3
May1989layingdownrulesforimplementing thesystem
ofaidforcotton(4),aslastamendedbyRegulation(EC)
No1645/96(5);whereasifitcannotbedeterminedinthis
wayitistobebasedonthelastpricedetermined ;1.Theworldmarketpriceforunginnedcottonasindi­
catedinArticle3ofRegulation(EC)No1554/95issetat
ECU40,326per100kilograms.
2.AdvancepaymentoftheaidasindicatedinArticle5
(3)ofRegulation(EC)No1554/95shallbeattherateof:
—ECU27,068per100kilogramsinSpain,
—ECU33,127per100kilogramsinGreece,WhereasArticle4ofRegulation (EC)No1554/95
requirestheworldmarketpriceforginnedcottontobe
determinedforaproductofspecificcharacteristicsusing
themostfavourableoffersandquotationsontheworld
marketofthoseconsideredrepresentative ofthereal
markettrend;whereastothisendanaverageistobe
calculatedofoffersandquotationsononeormoreEuro­
peanexchangesforacifproducttoaNorthEuropean
portfromthesuppliercountriesconsideredmostrepre­
sentativeasregardsinternational trade;whereasthese
rulesfordetermination oftheworldmarketpricefor
ginnedcottonprovideforadjustmentstoreflectdif­—ECU65,974per100kilogramsinotherMember
States.
Article2
ThisRegulationshallenterintoforceon1September
1997.
(6)OJNoL237,28.8.1997,p.1.(')OJNoL148,30.6.1995,p.45.0OJNoL148,30.6.1995,p.48.
(3)OJNoL206,16.8.1996,p.16.
(4)OJNoL123,4.5.1989,p.23.
(5OJNoL207,17.8.1996,p.3.

30.8.97 EN OfficialJournaloftheEuropeanCommunities NoL239/27
ThisRegulationshallbebindinginitsentiretyanddirectlyapplicableinallMember
States.
DoneatBrussels,29August1997.
FortheCommission
RittBJERREGAARD
MemberoftheCommission