CELEX: 31988R2710
Language: en
Date: 1988-09-01
Title: Commission Regulation (EEC) No 2710/88 of 31 August 1988 fixing the aid for cotton

No L 241 /56                              Official Journal of the European Communities                                    1 . 9 . 88
                                        COMMISSION REGULATION (EEC) No 2710/88
                                                           of 31 August 1988
                                                       fixing the aid for cotton
 THE COMMISSION OF THE EUROPEAN COMMUNITIES,                           Whereas, if the world market price for unginned cotton
                                                                       cannot be determined as described above, this pricfe shall
  Having regard to the Treaty establishing the European                be established on the basis of the most recent price deter­
                                                                       mined :
  Economic Community,
  Having regard to the Act of Accession of Spain and                   Whereas the world market price for unginned cotton is
 Portugal,                                                             equal to the sum of the values for ginned cotton and
                                                                       cotton seed defined in Article 1 of Commission Regula­
 Having regard to the Act of Accession of Greece, and in               tion (EEC) No 2183/81 of 30 July 1981 laying down rules
 particular paragraphs 3 and 10 of Protocol 4 on cotton                implementing the system of aid for cotton (6), as last
 annexed thereto, as amended by Protocol 14 annexed to                 amended by Regulation (EEC) No 211 8/88 Q, minus the
 the Act of Accession of Spain and of Portugal, and Regu­              cost of ginning ;
 lation (CEE) No 4006/87 ('),
                                                                       Whereas the above values are established on the basis of
 Having regard to Council Regulation (EEC) No 2169/81
 of 27 July 1981 laying down the general rules for the                 the prices determined in accordance with Articles 2 and 3
 system of aid for cotton (2), as last amended by Regulation           of Commission Regulation (EEC) No 2183/81 ; whereas
 (EEC) No 2261 /88 (3), and in particular Article 5 ( 1 )              the world market price is determined on the basis of the
 thereof,                                                              most favourable offers and quotations recorded, excluding
                                                                       offers and quotations which cannot be regarded as repre­
                                                                       sentative of the real market trend ;
 Having regard to the opinion of the Monetary Committee,
 Whereas,    under Article 5 of Regulation (EEC) No                   Whereas the necessary adjustments must be made in cases
 2169/81 ,   aid must be granted for unginned cotton                  where the offers and quotations recorded do not satisfy
 harvested   in the Community when the world market                    the requirements indicated above ;
 price for  unginned cotton is below the guide price ;
                                                                      Whereas, under Article 4 (4) of Regulation (EEC) No
 Whereas the aid is equal to the difference between these              2169/81 , if there are no suitable offers or quotations for
 two prices ;                                                         determining the world market price for cotton seed, that
                                                                       price shall be established on the basis of the most
Whereas the guide price for the 1988/89 marketing year                 favourable offers and quotations for cotton seed recorded
was fixed by Council Regulation (EEC) No 2259/88 (4) ;                on the Community market or, if those offers and quota­
                                                                       tions cannot be established on the basis of the value of
Whereas, under the system of maximum guaranteed                       the products obtained from processing the seed in the
 quantities, the amount of the aid is subject to the reduc­            Community, less the processing cost ; whereas this value
 tion provided for in Commission Regulation (EEC) No                  is determined in accordance with Article 4 of Regulation
 2727/88 (5) as regards cotton seed ;                                 (EEC) No ' 2183/81 ;
Whereas the world market price for unginned cotton is                 Whereas, if the subsidy system is to operate normally,
determined periodically on the basis of the world market              subsidies should be calculated on the following basis :
 prices recorded for ginned cotton and cotton seed, taking
 into account the estimated yield of the Community
 harvest in cotton seed and in ginned cotton and also the                  in the case of currencies which are maintained in rela­
 net cost of ginning ;                                                     tion to each other at any given moment within a band
                                                                           of 2,25 % , a rate of exchange based on their central
Whereas the world market price for ginned cotton and                       rate, multiplied by the corrective factor provided for in
cotton seed is determined in accordance with Article 4 of                  the last paragraph of Article 3 ( 1 ) of Council Regula­
Regulation (EEC) No 2169/81 ;                                              tion (EEC) No 1676/85 (8), as last amended by Regula­
                                                                           tion (EEC) No 1636/87 (9),
(') OJ  No  L  377,  31 . 12. 1987, p. 48 .
0   OJ  No  L  211 , 31 . 7. 1981 , p. 2.                             (*) OJ  No  L  211 , 31 . 7. 1981 , p. 35.
0   OJ  No  L  199,  26.  7. 1988, p. 8 .                             O   OJ  No  L  186,  16.  7. 1988,  p. 21 .
(<) OJ  No  L  199,  26.  7. 1988, p. 6.                              (■) OJ  No  L  164,  24.  6. 1985,  p. 1.
(^ See page 104 of this Official Journal.                             0   OJ  No  L  153,  13.  6. 1987,  p. 1.
 ---pagebreak--- 1 . 9 . 88                            Official Journal of the European Communities                        No L 241 /57
— for other currencies, an exchange rate based on the           HAS ADOPTED THIS REGULATION :
     arithmetic mean of the spot market rates of each of
     these currencies recorded over a given period in rela­
                                                                                        Article 1
     tion to the Community currencies referred to in the
     previous indent, and the aforesaid coefficient ;
Whereas the aid must be fixed once a month, and in such         The aid for unginned cotton provided for in Article 5 of
a way that it can be applied from the first day of the          Regulation (EEC) No 2169/81 shall be 50,532 ECU per
                                                                100 kilograms.
month following the date of fixing ; whereas it may be
altered between fixings ;
                                                                                        Article 2
Whereas it follows from applying these provisions to the
offers and quotations known to the Commission that the          This Regulation shall enter into force on 1 September
aid for cotton should be as set out in this Regulation,         1988 .
                 This Regulation shall be binding in its entirety and directly applicable in all Member
                 States .
                 Done at Brussels, 31 August 1988.
                                                                        For the Commission
                                                                         Frans ANDRIESSEN
                                                                            Vice-President