CELEX: 31998R2859
Language: en
Date: 1998-12-30 00:00:00
Title: Commission Regulation (EC) No 2859/98 of 30 December 1998 determining the world market price for unginned cotton and the rate for the aid

31. 12. 98            EN                Official Journal of the European Communities                               L 358/77
                                   COMMISSION REGULATION (EC) No 2859/98
                                                   of 30 December 1998
                  determining the world market price for unginned cotton and the rate for the aid
THE COMMISSION OF THE EUROPEAN COMMUNITIES,                        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
Having regard to the Treaty establishing the European              world market price and less a further amount calculated
Community,                                                         by the formula applicable when the guaranteed maximum
                                                                   quantity is overrun but with a minimum 7,5 % increase
                                                                   in the revised estimate for unginned cotton production;
                                                                   whereas Commission Regulation (EC) No 2591/98 (6)
Having regard to the Act of Accession of Greece, and in            fixes the revised estimate of production of unginned
particular paragraphs 3 and 10 of Protocol 4 on cotton, as         cotton for the 1998/99 marketing year and the relevant
last amended by Council Regulation (EC) No 1553/95 (1),            percentage increase; whereas application of these rules
                                                                   gives the advance payment rates for each Member State
                                                                   indicated hereunder;
Having regard to Council Regulation (EC) No 1554/95 of
29 June 1995 (2) laying down general rules for the system          Whereas Article 2 of Council Regulation (EEC) No 1103/
of aid for cotton and repealing Regulation (EEC) No                97 of 17 June 1997 on certain provisions relating to the
2169/81, as last amended by Regulation (EC) No 1419/               introduction of the euro (7) provides that as from 1
98 (3), and in particular Articles 3, 4 and 5 thereof,             January 1999, all references to the ecu in legal instru-
                                                                   ments are to be replaced by references to the euro at the
                                                                   rate of EUR 1 to ECU 1; whereas, for the sake of clarity,
Whereas Article 3 of Regulation (EC) No 1554/95                    the denomination ‘euro' should be used in this Regula-
requires a world market price for unginned cotton to be            tion since it is to apply from 1 January 1999,
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 Regulation (EC)          HAS ADOPTED THIS REGULATION:
No 1664/98 (5); whereas if it cannot be determined in this
way it is to be based on the last price determined;
                                                                                              Article 1
Whereas Article 4 of Regulation (EC) No 1554/95
requires the world market price for ginned cotton to be            1. The world market price for unginned cotton as indi-
determined for a product of specific characteristics using         cated in Article 3 of Regulation (EC) No 1554/95 is set at
the most favourable offers and quotations on the world             EUR 21,571 per 100 kilograms.
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 Euro-           2. Advance payment of the aid as indicated in Article 5
pean exchanges for a cif product to a North European               (3a), second sentence, of Regulation (EC) No 1554/95
port from the supplier countries considered most repres-           shall be at the rate of:
entative as regards international trade; whereas these rules
for determination of the world market price for ginned             — EUR 62,370 per 100 kilograms in Spain,
cotton provide for adjustments to reflect differences in           — EUR 52,165 per 100 kilograms in Greece,
product quality and the nature of offers and quotations;
whereas these adjustments are specified in Article 2 of            — EUR 84,480 per 100 kilograms in other Member
Regulation (EEC) No 1201/89;                                            States.
Whereas application of the above rules gives the world
market price for unginned cotton indicated hereunder;                                         Article 2
(1)  OJ L 148, 30. 6. 1995, p. 45.                                 This Regulation shall enter into force on 1 January 1999.
(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.                                  (6) OJ L 324, 2. 12. 1998, p. 25.
( 5) OJ L 211, 29. 7. 1998, p. 9.                                  (7) OJ L 162, 19. 6. 1997, p. 1.
 ---pagebreak--- L 358/78     EN               Official Journal of the European Communities                      31. 12. 98
         This Regulation shall be binding in its entirety and directly applicable in all Member
         States.
         Done at Brussels, 30 December 1998.
                                                                 For the Commission
                                                                  Karel VAN MIERT
                                                               Member of the Commission