29.4.89 OfficialJournaloftheEuropeanCommunities NoL121/49
COMMISSION REGULATION (EEC)No1176/89
of28April1989
fixingtheaidforcotton
beestablishedonthebasisofthemostrecentpricedeter­
mined;
Whereastheworldmarketpriceforunginnedcottonis
equaltothesumofthevaluesforginnedcottonand
cottonseeddefinedinArticle1ofCommissionRegula­
tion(EEC)No2183/81of30July1981layingdownrules
implementing thesystemofaidforcotton(4),aslast
amendedbyRegulation(EEC)No2993/88(*),minusthe
costofginning;
Whereastheabovevaluesareestablishedonthebasisof
thepricesdeterminedinaccordancewithArticles2and3
ofCommissionRegulation(EEC)No2183/81;whereas
theworldmarketpriceisdeterminedonthebasisofthe
mostfavourableoffersandquotationsrecorded,excluding
offersandquotationswhichcannotberegardedasrepre­
sentativeoftherealmarkettrend;
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(6),aslastamendedbyRegula­
tion(EEC)No1636/870,
—forothercurrencies,anexchangeratebasedonthe
arithmeticmeanofthespotmarketratesofeachof
thesecurrenciesrecordedoveragivenperiodinrela­
tiontotheCommunitycurrenciesreferredtointhe
previousindent,andtheaforesaidcoefficient;
Whereastheaidmustbefixedonceamonth,andinsuch
awaythatitcanbeappliedfromthefirstdayofthe
monthfollowingthedateoffixing;whereasitmaybe
alteredbetweenfixings;THECOMMISSION OFTHEEUROPEANCOMMUNITIES ,
HavingregardtotheTreatyestablishingtheEuropean
EconomicCommunity ,
HavingregardtotheActofAccessionofSpainand
Portugal,
HavingregardtotheActofAccessionofGreece,andin
particularparagraphs3and10ofProtocol4oncotton
annexedthereto,asamendedbyProtocol14annexedto
theActofAccessionofSpainandofPortugal,andRegu­
lation(CEE)No4006/87('),
HavingregardtoCouncilRegulation(EEC)No2169/81
of27July1981layingdownthegeneralrulesforthe
systemofaidforcotton(2),aslastamendedbyRegulation
(EEC)No791/89(3),andinparticularArticle5(1)thereof,
HavingregardtotheopinionoftheMonetaryCommittee,
Whereas,underArticle5ofRegulation (EEC)No
2169/81,aidmustbegrantedforunginnedcotton
harvestedintheCommunitywhentheworldmarket
priceforunginnedcottonisbelowtheguideprice;
Whereastheaidisequaltothedifferencebetweenthese
twoprices;
Whereasintheabsenceoftheguidepriceforcotton
applicableduringthe1989/90marketingyear,theaid
amounthavebeenfixedonthebasisoftheCommission's
latestproposalstotheCouncil;whereasthisamount
mustbeprovisionallyappliedandconfirmedoraltered
whenthe1989/90marketingyearpricesareknown;
Whereastheabatementofthesubsidywhicharises,where
appropriate,fromthesystemofmaximumguaranteed
quantitiesforthe1989/90year,hasnot,todate,been
fixed;whereastheamountofthesubsidyforthe1989/90
yearhasbeenprovisionallycalculatedonthebasisofan
abatementof24,005ECUper100kilograms;
Whereastheworldmarketpriceforunginnedcottonis
determinedperiodicallyonthebasisoftheworldmarket
pricesrecordedforginnedcottonandcottonseed,taking
intoaccounttheestimatedyieldoftheCommunity
harvestincottonseedandinginnedcottonandalsothe
netcostofginning;
Whereastheworldmarketpriceforginnedcottonand
cottonseedisdeterminedinaccordancewithArticle4of
Regulation(EEC)No2169/81;
Whereas,iftheworldmarketpriceforunginnedcotton
cannotbedeterminedasdescribedabove,thispriceshall
(')OJNoL377,31.12.1987,p.48.0OJNoL211,31.7.1981,p.2.0OJNoL85,30.3.1989,p.7.(4)OJNoL211,31.7.1981,p.35.0OJNoL270,30.9.1988,p.61.
(«)OJNoL164,24.6.1985,p.1.
OOJNoL153,13.6.1987,p.1.

NoL121/50 OfficialJournaloftheEuropeanCommunities 29.4.89
Whereasitfollowsfromapplyingtheseprovisionstothe
offersandquotationsknowntotheCommissionthatthe
aidforcottonshouldbeassetoutinthisRegulation,2.However,theamountsoftheaidwillbeconfirmed
orreplacedwitheffectfrom1May1989totakeaccount
oftheguidepriceofcottonadoptedinrespectofthe
1989/90marketingyearand,asthecasemaybe,which
appeartohavebeenofferedinthelargestquantities.
Article2
ThisRegulationshallenterintoforceonthedayofits
publicationintheOfficialJournaloftheEuropean
Communities .
Itshallapplywitheffectfrom1May1989.HASADOPTEDTHISREGULATION :
Article1
1.TheaidforunginnedcottonprovidedforinArticle
5ofRegulation(EEC)No2169/81shallbe40,833ECU
per100kilograms.
ThisRegulationshallbebindinginitsentiretyanddirectlyapplicableinallMember
States.
DoneatBrussels,28April1989.
FortheCommission
RayMACSHARRY
MemberoftheCommission