NoL345/56ΓΕΝΊ OfficialJournaloftheEuropeanCommunities 31.12.96
COMMISSION REGULATION (EC)No2516/96
of30December 1996
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
1683/96(6)determinedestimatedproductionforthe
1996/97marketingyear;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)No1584/96f),
andinparticularArticles3,4and5thereof,
HASADOPTEDTHISREGULATION :WhereasArticle3ofRegulation (EC)No1554/95
requiresaworldmarketpriceforunginnedcottontobe
periodicallydeterminedfromtheworldmarketprice
determinedforginnedcotton,usingthehistoricalrela­
tionshipbetweenthetwopricesasspecifiedinArticle1
(2)ofCommissionRegulation(EEC)No1201/89of3
May1989layingdownrulesforimplementing thesystem
ofaidforcotton(4),aslastamendedbyRegulation(EC)
No1645/96(5);whereasifitcannotbedeterminedinthis
wayitistobebasedonthelastpricedetermined ;Article1
1.Theworldmarketpriceforunginnedcottonasindi­
catedinArticle3ofRegulation(EC)No1554/95issetat
ECU34,082per100kilograms.
2.AdvancepaymentoftheaidasindicatedinArticle5
(3)ofRegulation(EC)No1554/95shallbeattherateof:
—ECU60,525per100kilogramsinSpain,
—ECU30,017per100kilogramsinGreece,WhereasArticle4ofRegulation (EC)No1554/95
requirestheworldmarketpriceforginnedcottontobe
determinedforaproductofspecificcharacteristicsusing
themostfavourableoffersandquotationsontheworld
marketofthoseconsideredrepresentative ofthereal
markettrend;whereastothisendanaverageistobe
calculatedofoffersandquotationsononeormoreEuro­
peanexchangesforacifproducttoaNorthEuropean
portfromthesuppliercountriesconsideredmostrepre­
sentativeasregardsinternational trade;whereasthese
rulesfordetermination oftheworldmarketpricefor
ginnedcottonprovideforadjustmentstoreflectdif­—ECU72,218per100kilogramsinotherMember
States.
Article2
(')OJNoL148,30.6.1995,p.45.
(2)OJNoL148,30.6.1995,p.48.
(3)OJNoL206,16.8.1996,p.16.ThisRegulationshallenterintoforceon1January1997.
(4)OJNoL123,4.5.1989,p.23.
5OJNoL207,17.8.1996,p.3. (6)OJNoL217,28.8.1996,p.1.

31.12.96 IEN!OfficialJournaloftheEuropeanCommunities NoL345/57
ThisRegulationshallbebindinginitsentiretyanddirectlyapplicableinallMember
States.
DoneatBrussels,30December1996.
FortheCommission
FranzFISCHLER
MemberoftheCommission