EN OfficialJournaloftheEuropeanCommunities 11.11.2000 L286/35
COMMISSION REGULATION (EC) No 2487/2000
of 10 November 2000
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
particularparagraphs3and10ofProtocol4oncotton,aslastamended 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)No1624/1999(5).Ifitcannotbedeter-
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 mostfavourableoffersandquotationsontheworldmarketofthoseconsideredrepresentativeoftherealmarkettrend.To this end an average is to be calculated of offers andquotationsononeormoreEuropeanexchangesforacifproduct to a North European port from the suppliercountries considered most representative as regardsinternational trade. These rules for determination of theworldmarketpriceforginnedcottonprovideforadjust-ments to reflect differences in product quality and the
nature of offers and quotations; whereas these adjust-ments are specified in Article 2 of Regulation (EEC) No1201/89.
(3)Application of the above rules gives the world marketprice for unginned cotton indicated hereunder.
(4)The first 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 worldmarketpriceandlessafurtheramountcalculatedbytheformula applicable when the guaranteed maximumquantity based on the production estimated forunginnedcottonplusatleast15%.CommissionRegula-tion (EC) No 1842/2000(
6) fixes the production esti-
mated for the 2000/2001 marketing year. The applica-tion of this method results in the fixing of the advancepaymentrateforeachMemberStateatthelevelssetoutbelow,
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 at40,167 EUR/100 kg.
2. The advance payment of the aid referred to in Article
5(3a), first subparagraph, of Regulation (EC) No 1554/95 isfixed at:
— 40,621 EUR/100 kg in Spain,— 21,593 EUR/100 kg in Greece,— 66,133 EUR/100 kg in other Member States.
Article 2
This Regulation shall enter into force on 11 November 2000.
(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 220, 31.8.2000, p. 14.
EN OfficialJournaloftheEuropeanCommunities 11.11.2000 L286/36
This Regulation shall be binding in its entirety and directly applicable in all Member States.
Done at Brussels, 10 November 2000.
For the Commission
Franz FISCHLER
Member of the Commission