EN Official Journal of the European Communities 20. 11. 1999 L 299/29
COMMISSION REGULATION (EC) No 2462/1999
of 19 November 1999
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
particular paragraphs 3 and 10 of Protocol 4 on cotton, as lastamended 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,
(1)Whereas Article 3 of Regulation (EC) No 1554/95requires a world market price for unginned cotton to beperiodically determined from the world market pricedetermined for ginned cotton, using the historical rela-tionship between the two prices as specified in Article 1(2) of Commission Regulation (EEC) No 1201/89 of 3May 1989 laying down rules for implementing thesystem of aid for cotton (
4), as last amended by Regula-
tion (EC) No 1624/1999 (5); whereas if it cannot be
determined in this way it is to be based on the last pricedetermined;
(2)Whereas Article 4 of Regulation (EC) No 1554/95requires the world market price for ginned cotton to bedetermined for a product of specific characteristics usingthe most favourable offers and quotations on the worldmarket of those considered representative of the realmarket trend; whereas to this end an average is to becalculated of offers and quotations on one or moreEuropean exchanges for a cif product to a North Euro-pean port from the supplier countries considered mostrepresentative as regards international trade; whereasthese rules for determination of the world market pricefor ginned cotton provide for adjustments to reflectdifferences in product quality and the nature of offers
and quotations; whereas these adjustments are specifiedin Article 2 of Regulation (EEC) No 1201/89;
(3)Whereas application of the above rules gives the worldmarket price for unginned cotton indicated hereunder;
(4)Whereas the first subparagraph of Article 5(3a) of Regu-lation (EC) No 1554/95 stipulates that the advancepayment rate for the aid is to be the guide price less theworld market price and less a further amount calculatedby the formula applicable when the guaranteedmaximum quantity is overrun but with a 15 % increasein the estimate for unginned cotton production; whereasCommission Regulation (EC) No 1870/1999 (
6) deter-
mined estimated production for the 1999/2000marketing year; whereas application of these rules givesthe advance payment rates for each Member State in-dicated hereunder,
HASADOPTED THISREGULATION:
Article 1
1. The world market price for unginned cotton as indicated
in Article 3 of Regulation (EC) No 1554/95 is set at20,017 EUR/100 kg.
2. Advance payment of the aid as indicated in Article 5 (3a),
first sentence, of Regulation (EC) No 1554/95 shall be at therate of:
— EUR 43,550 kg in Spain,— EUR 43,231 kg in Greece,— EUR 86,283 kg in other Member States.
Article 2
This Regulation shall enter into force on 20 November 1999.
(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 230, 31.8.1999, p. 3.
EN Official Journal of the European Communities 20. 11. 1999 L 299/30
This Regulation shall be binding in its entirety and directly applicable in all Member States.
Done at Brussels, 19 November 1999.
For the Commission
Franz FISCHLER
Member of the Commission