NoL248/46 OfficialJournaloftheEuropeanCommunities1.9.87
COMMISSION REGULATION (EEC)No2636/87
of31August1987
fixingtheaidforcotton
beestablishedonthebasisofthemostrecentpricedeter­
mined:
Whereastheworldmarketpriceforunginnedcottonis
equaltothesumofthevaluesforginnedcottonand
cottonseeddefinedinArticle1ofCommissionRegula­
tion(EEC)No2183/81of30July1981layingdownrules
implementing thesystemofaidforcotton(*),aslast
amendedbyRegulation(EEC)No2618/87(*),minusthe
costofginning;
Whereastheabovevaluesareestablishedonthebasisof
thepricesdeterminedinaccordancewithArticles2and3
ofCommissionRegulation(EEC)No2183/81;whereas
theworldmarketpriceisdeterminedonthebasisofthe
mostfavourableoffersandquotationsrecorded,excluding
offersandquotationswhichcannotberegardedasrepre­
sentativeoftherealmarkettrend:
Whereasthenecessaryadjustmentsmustbemadeincases
wheretheoffersandquotationsrecordeddonotsatisfy
therequirementsindicatedabove;THECOMMISSION OFTHEEUROPEAN COMMUNITIES ,
HavingregardtotheTreatyestablishingtheEuropean
EconomicCommunity ,
HavingregardtotheActofAccessionofSpainand
Portugal,
HavingregardtotheActofAccessionofGreece,andin
particularparagraphs3and10ofProtocol4oncotton
annexedthereto,asamendedbyProtocol14annexedto
theActofAccessionofSpainandofPortugal,
HavingregardtoCouncilRegulation(EEC)No2169/81
of27July1981layingdownthegeneralrulesfprthe
systemofaidforcotton('),aslastamendedbyRegulation
(EEC)No2276/87(2),andinparticularArticle5(1)
thereof,
HavingregardtotheopinionoftheMonetaryCommittee,
Whereas,underArticle5ofRegulation (EEC)No
2169/81,aidmustbegrantedforunginnedcotton
harvestedintheCommunitywhentheworldmarket
priceforunginnedcottonisbelowtheguideprice;
Whereastheaidisequaltothedifferencebetweenthese
twoprices;
Whereastheguidepriceforthe1987/88marketingyear
wasfixedbyCouncilRegulation(EEC)No1966/87(3);
Whereas,underthesystemofmaximumguaranteed
quantities,theamountoftheaidissubjecttothereduc­
tionprovidedforinCommissionRegulation(EEC)No
2619/87(4)asregardscottonseed;
Whereastheworldmarketpriceforunginnedcottonis
determinedperiodicallyonthebasisoftheworldmarket
pricesrecordedforginnedcottonandcottonseed,taking
intoaccounttheestimatedyieldoftheCommunity
harvestincottonseedandinginnedcottonandalsothe
netcostofginning;
Whereastheworldmarketpriceforginnedcottonand
cottonseedisdeterminedinaccordancewithArticle4of
Regulation (EEC)No2169/81;
Whereas,iftheworldmarketpriceforunginnedcotton
cannotbedeterminedasdescribedabove,thispriceshallWhereas,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)No1676/850,aslastamendedbyRegula­
tion(EEC)No1636/87(8),
(')OJNoL211,31.7.1,981,p.2.
(2)OJNoL209,31.7.1987,p.5.
(3)OJNoL184,3.7.1987,p.18.
(4)Seepage18ofthisOfficialJournal.0OJNoL211,31.7.1981,p.35.
(6)Seepage17ofthisOfficialJournal.0OJNoL164,24.6.1985,p.1.
8OJNoL153,13.6.1987,p.1.
l

1.9.87 OfficialJournaloftheEuropeanCommunities NoL248/47
—forothercurrencies,anexchangeratebasedonthe
arithmeticmeanofthespotmarketratesofeachof
thesecurrenciesrecordedoveragivenperiodinrela­
tiontotheCommunitycurrenciesreferredtointhe
previousindent,andtheaforesaidcoefficient ;
Whereastheaidmustbefixedonceamonth,andinsuch
awaythatitcanbeappliedfromthefirstdayofthe
monthfollowingthedateoffixing;whereasitmaybe
alteredbetweenfixings;
Whereasitfollowsfromapplyingtheseprovisionstothe
offersandquotationsknowntotheCommissionthatthe
aidforcottonshouldbeassetoutinthisRegulation,HASADOPTEDTHISREGULATION :
Article1
TheaidforunginnedcottonprovidedforinArticle5of
Regulation(EEC)No2169/81shallbe51,944ECUper
100kilograms.
Article2
ThisRegulationshallenterintoforceon1September
1987.
ThisRegulationshallbebindinginitsentiretyanddirectlyapplicableinallMember
States. ..
DoneatBrussels,31August1987.
FortheCommission
FransANDRIESSEN
Vice-President