Commission Regulation (EC) No 2296/1999 of 29 October 1999 determining the world market price for unginned cotton and the rate for the aid
Date: 1999-10-29
Institutions: European Commission
Subjects: EU Member State, Greece, Spain, cotton, production aid, world market price

30. 10. 1999

EN

Official Journal of the European Communities

L 280/5

COMMISSION REGULATION (EC) No 2296/1999

of 29 October 1999

determining the world market price for unginned cotton and the rate for the aid

THE COMMISSION OF THE EUROPEAN COMMUNITIES,

differences in product quality and the nature of offers
and quotations; whereas these adjustments are specified
in Article 2 of Regulation (EEC) No 1201/89;

Having regard to the Treaty establishing the European
Community,

(3) Whereas application of the above rules gives the world
market price for unginned cotton indicated hereunder;

Having regard to the Act of Accession of Greece, and in
particular paragraphs 3 and 10 of Protocol 4 on cotton, as last
amended 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 last
amended by Regulation (EC) No 1419/98 (3), and in particular
Articles 3, 4 and 5 thereof,

(1) Whereas Article 3 of Regulation (EC) No 1554/95
requires a world market price for unginned cotton to be
periodically determined from the world market price
determined 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 3
May 1989 laying down rules for implementing the
system 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 price
determined;

(2) Whereas Article 4 of Regulation (EC) No 1554/95
requires the world market price for ginned cotton to be
determined for a product of specific characteristics using
the most favourable offers and quotations on the world
market of those considered representative of the real
market trend; whereas to this end an average is to be
calculated of offers and quotations on one or more
European exchanges for a cif product to a North Euro-
pean port from the supplier countries considered most
representative as regards international
trade; whereas
these rules for determination of the world market price
for ginned cotton provide for adjustments to reflect

(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.

the

formula

(4) Whereas the second subparagraph of Article 5(3a) of
Regulation (EC) No 1554/95 stipulates that the advance
payment rate for the aid is to be the guide price less the
world market price and less a further amount calculated
by
guaranteed
maximum quantity is overrun but with a 15 % increase
in the estimate for unginned cotton production; whereas
Commission Regulation (EC) No 1870/1999 (6) deter-
mined
the 1999/2000
marketing year; whereas application of these rules gives
the advance payment rates for each Member State in-
dicated hereunder,

estimated production for

applicable when the

HAS ADOPTED THIS REGULATION:

Article 1

The world market price for unginned cotton as indicated
set at

1.
in Article 3 of Regulation (EC) No 1554/95 is
20,464 EUR/100 kg.

2.
Advance payment of the aid as indicated in Article 5 (3a),
second sentence, of Regulation (EC) No 1554/95 shall be at the
rate of:

— EUR 43,103 kg in Spain,

— EUR 42,784 kg in Greece,

— EUR 85,836 kg in other Member States.

Article 2

This Regulation shall enter into force on 1 November 1999.

(6) OJ L 230, 31.8.1999, p. 3.

L 280/6

EN

Official Journal of the European Communities

30. 10. 1999

This Regulation shall be binding in its entirety and directly applicable in all Member States.

Done at Brussels, 29 October 1999.

For the Commission

Franz FISCHLER

Member of the Commission