EN OfficialJournaloftheEuropeanCommunities 21.12.1999 L327/51
COMMISSION REGULATION (EC) No 2721/1999
of 20 December 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
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,
(1)Whereas Article 3 of Regulation (EC) No 1554/95requiresaworldmarketpriceforunginnedcottontobeperiodically determined from the world market pricedetermined 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);whereasifitcannot
be determined in this way it is to be based on the lastprice determined;
(2)Whereas Article 4 of Regulation (EC) No 1554/95requirestheworldmarketpriceforginnedcottontobedeterminedforaproductofspecificcharacteristicsusingthemostfavourableoffersandquotationsontheworldmarket of those considered representative of the realmarket trend; whereas to this end an average is to becalculated of offers and quotations on one or moreEuropeanexchangesforacifproducttoaNorthEuro-pean port from the supplier countries considered mostrepresentative as regards international trade; whereastheserulesfordeterminationoftheworldmarketpricefor ginned cotton provide for adjustments to reflectdifferences in product quality and the nature of offers
andquotations;whereastheseadjustmentsarespecifiedin Article 2 of Regulation (EEC) No 1201/89;
(3)Whereasapplicationoftheaboverulesgivestheworldmarket price for unginned cotton indicated hereunder;
(4)WhereasthefirstsubparagraphofArticle5(3a)ofRegu-lation (EC) No 1554/95 stipulates that the advancepaymentratefortheaidistobetheguidepricelesstheworldmarketpriceandlessafurtheramountcalculatedby the formula applicable when the guaranteedmaximumquantitybasedontherevisedproductionesti-mateforunginnedcottonplusatleast7,5%;Commis-sionRegulation(EC)No2606/1999(
6)fixestheproduc-
tionestimateforthe1999/2000marketingyear,andtherelevantpercentageincrease;whereastheapplicationofthismethodresultsinthefixingoftheadvancepaymentrate for 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 at19,730 EUR/100 kg.
2. The advance payment of the aid referred to in Article
5(3a), first subparagraph, of Regulation (EC) No 1554/95 isfixed at:
— 50,109 EUR/100 kg in Spain,— 46,176 EUR/100 kg in Greece,— 86,570 EUR/100 kg in other Member States.
Article 2
This Regulation shall enter into force on 21 December 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 316, 10.12.1999, p. 36.
EN OfficialJournaloftheEuropeanCommunities 21.12.1999 L327/52
ThisRegulationshallbebindinginitsentiretyanddirectlyapplicableinallMemberStates.
Done at Brussels, 20 December 1999.
For the Commission
Franz FISCHLER
Member of the Commission