CELEX: 31997R2642
Language: en
Date: 1997-12-30 00:00:00
Title: COMMISSION REGULATION (EC) No 2642/97 of 30 December 1997 determining the world market price for unginned cotton and the rate for the aid

L 356/32            I EN              Official Journal of the European Communities                               31 . 12. 97
                                    COMMISSION REGULATION (EC) No 2642/97
                                                  of 30 December 1997
                  determining the world market price for unginned cotton and the rate for the aid
THE COMMISSION OF THE EUROPEAN COMMUNITIES,                      ferences in product quality and the nature of offers and
                                                                 quotations; whereas these adjustments are specified in
 Having regard to the Treaty establishing the European           Article 2 of Regulation (EEC) No 1201 /89;
Community,
                                                                 Whereas application of the above rules gives the world
 Having regard to the Act of Accession of Greece, and in         market price for unginned cotton indicated hereunder,
 particular paragraphs 3 and 10 of Protocol 4 on cotton, as      Whereas Article 5 (3) of Regulation (EC) No 1554/95
last amended by Council Regulation (EC) No 1553/95 ('),
                                                                 stipulates that the advance payment rate for the aid is to
 Having regard to Council Regulation (EC) No 1554/95 of          be the guide price less the world market price and less a
 29 June 1995 (2) laying down general rules for the system       further amount calculated by the formula applicable when
of aid for cotton and repealing Regulation (EEC) No              the guaranteed maximum quantity is overun but with a
2169/81 , as amended by Regulation (EC) No 1 584/96 (3),         15 % increase in the estimate for unginned cotton
and in particular Articles 3, 4 and 5 thereof,                   production; whereas Commission Regulation (EC) No
                                                                  1670/97 (6) determined estimated production for the
Whereas Article 3 of Regulation (EC) No 1554/95                  1997/98 marketing year, whereas application of these
requires a world market price for unginned cotton to be          rules gives the advance payment rates for each Member
                                                                 State indicated hereunder,
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        HAS ADOPTED THIS REGULATION:
(2) of Commission Regulation (EEC) No 1201 /89 of 3
May 1989 laying down rules for implementing the system
                                                                                           Article 1
of aid for cotton (4), as last amended by Regulation (EC)
No 1740/97 (*); whereas if it cannot be determined in this       1 . The world market price for unginned cotton as indi­
way it is to be based on the last price determined;              cated in Article 3 of Regulation (EC) No 1554/95 is set at
Whereas Article 4 of Regulation (EC) No 1554/95                  ECU 35,410 per 100 kilograms.
requires the world market price for ginned cotton to be          2. Advance payment of the aid as indicated in Article 5
determined for a product of specific characteristics using       (3) of Regulation (EC) No 1554/95 shall be at the rate of:
the most favourable offers and quotations on the world
market of those considered representative of the real            — ECU 31,984 per 100 kilograms in Spain,
market trend; whereas to this end an average is to be            — ECU 38,043 per 100 kilograms in Greece,
calculated of offers and quotations on one or more Euro­         — ECU 70,890 per 100 kilograms in other Member
pean exchanges for a cif product to a North European                  States .
port from the supplier countries considered most repre­
sentative as regards international trade; whereas these                                    Article 2
rules for determination of the world market price for
ginned cotton provide for adjustments to reflect dif­            This Regulation shall enter into force on 1 January 1998 .
                  This Regulation shall be binding in its entirety and directly applicable in all Member
                  States.
                  Done at Brussels, 30 December 1997.
                                                                            For the Commission
                                                                          Hans VAN DEN BROEK
                                                                       Member of the Commission
(') OJ L 148, 30. 6. 1 995, p. 45.
(2) OJ L 148, 30. 6. 1 995, p. 48 .
(3) OJ L 206, 16. 8 . 1996, p. 16.
(4) OJ L 123, 4. 5. 1989, p. 23.
0 OJ L 244, 6. 9. 1997, p. 1 .                                   (') OJ L 237, 28. 8. 1997, p. 1 .