Commission Regulation (EC) No 2721/1999 of 20 December 1999 determining the world market price for unginned cotton and the rate for the aid
Date: 1999-12-20
Institutions: European Commission
Subjects: EU Member State, Greece, Spain, cotton, production aid, world market price

21. 12. 1999

EN

Official Journal of the European Communities

L 327/51

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,

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
relationship 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
Regulation (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 first subparagraph of Article 5(3a) of Regu-
lation (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 based on the revised production esti-
mate for unginned cotton plus at least 7,5 %; Commis-
sion Regulation (EC) No 2606/1999 (6) fixes the produc-
tion estimate for the 1999/2000 marketing year, and the
relevant percentage increase; whereas the application of
this method results in the fixing of the advance payment
rate for each Member State at the levels set out below,

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
19,730 EUR/100 kg.

2.
The advance payment of the aid referred to in Article
5(3a), first subparagraph, of Regulation (EC) No 1554/95 is
fixed 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.

(6) OJ L 316, 10.12.1999, p. 36.

L 327/52

EN

Official Journal of the European Communities

21. 12. 1999

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

Done at Brussels, 20 December 1999.

For the Commission

Franz FISCHLER

Member of the Commission