EN OfficialJournaloftheEuropeanCommunities 10.3.2001 L69/13
COMMISSION REGULATION (EC) No 487/2001
of 9 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
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
forcottonandrepealingRegulation(EEC)No2169/81,aslastamendedbyRegulation(EC)No1419/98(
3),andinparticular
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 inArticle1(2)ofCommissionRegulation(EEC)No1201/89of3May1989layingdownrulesforimplementingthe 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 theworldmarketpriceforginnedcottontobedeterminedfor a product of specific characteristics using the mostfavourableoffersandquotationsontheworldmarketofthoseconsideredrepresentativeoftherealmarkettrend.TothisendanaverageistobecalculatedofoffersandquotationsononeormoreEuropeanexchangesforacifproduct to a North European port from the suppliercountries considered most representative as regardsinternationaltrade.Theserulesfordeterminationoftheworldmarketpriceforginnedcottonprovideforadjust-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)ThesecondsubparagraphofArticle5(3a)ofRegulation(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 maximumquantityisbasedontherevisedproductionestimateforunginnedcottonplusatleast7,5%.CommissionRegu-lation (EC) No 2714/2000(
6) fixes the revised produc-
tionestimateforthe2000/2001marketingyear,andtherelevant percentage increase. The application of thismethodresultsinthefixingoftheadvancepaymentratefor each Member State at the levels set out below,
HAS ADOPTED THIS REGULATION:
Article 1
1. Theworldmarketpriceforunginnedcottonasindicated
in Article 3 of Regulation (EC) No 1554/95 is set at32,869 EUR/100 kg.
2. The advance payment of the aid referred to in Article
5(3a),secondsubparagraph,ofRegulation(EC)No1554/95isfixed at:
— 58,868 EUR/100 kg in Spain,— 34,419 EUR/100 kg in Greece,— 73,431 EUR/100 kg in other Member States.
Article 2
This Regulation shall enter into force on 10 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 OfficialJournaloftheEuropeanCommunities 10.3.2001 L69/14
ThisRegulationshallbebindinginitsentiretyanddirectlyapplicableinallMemberStates.
Done at Brussels, 9 March 2001.
For the Commission
Franz FISCHLER
Member of the Commission