Commission Regulation (EC) No 487/2001 of 9 March 2001 determining the world market price for unginned cotton and the rate for the aid
Date: 2001-03-09
Institutions: European Commission
Subjects: EU Member State, Greece, Spain, aid system, cotton, world market price

10.3.2001

EN

Official Journal of the European Communities

L 69/13

COMMISSION REGULATION (EC) No 487/2001

of 9 March 2001

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 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,

ments to reflect differences in product quality and the
nature of offers and quotations. These adjustments are
specified in Article 2 of Regulation (EEC) No 1201/89.

(3)

(4)

Application of the above rules gives the world market
price for unginned cotton indicated hereunder.

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 the
formula applicable when the guaranteed maximum
quantity is based on the revised production estimate for
unginned cotton plus at least 7,5 %. Commission Regu-
lation (EC) No 2714/2000 (6) fixes the revised produc-
tion estimate for the 2000/2001 marketing year, and the
relevant percentage increase. The application of
this
method results in the fixing of the advance payment rate
for each Member State at the levels set out below,

Whereas:

(1)

(2)

for

ginned

Article 3 of Regulation (EC) No 1554/95 requires a
world market price for unginned cotton to be period-
ically determined from the world market price deter-
mined
historical
cotton,
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). If it cannot be deter-
mined in this way it is to be based on the last price
determined.

using

the

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.
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 European port from the supplier
countries considered most
regards
international trade. These rules for determination of the
world market price for ginned cotton provide for adjust-

representative as

(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.

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
32,869 EUR/100 kg.

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

— 58,868 EUR/100 kg in Spain,

— 34,419 EUR/100 kg in Greece,

— 73,431 EUR/100 kg in other Member States.

Article 2

This Regulation shall enter into force on 10 March 2001.

(6) OJ L 313, 13.12.2000, p. 7.

L 69/14

EN

Official Journal of the European Communities

10.3.2001

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

Done at Brussels, 9 March 2001.

For the Commission

Franz FISCHLER

Member of the Commission