CELEX: 31998R0391
Language: en
Date: 1998-02-18 00:00:00
Title: COMMISSION REGULATION (EC) No 391/98 of 18 February 1998 determining the world market price for unginned cotton and the rate for the aid

L 48/44              EN                Official Journal of the European Communities                                19. 2. 98
                                    COMMISSION REGULATION (EC) No 391/98
                                                   of 18 February 1998
                 determining the world market price for unginned cotton and the rate for the aid
THE COMMISSION OF THE EUROPEAN COMMUNITIES,                       whereas these adjustments are specified in Article 2 of
                                                                  Regulation (EEC) No 1201/89;
                                                                  Whereas application of the above rules gives the world
Having regard to the Treaty establishing the European             market price for unginned cotton indicated hereunder;
Community,
                                                                  Whereas Article 5 (3) of Regulation (EC) No 1554/95
                                                                  stipulates that the advance payment rate for the aid is to
Having regard to the Act of Accession of Greece, and in           be the guide price less the world market price and less a
particular paragraphs 3 and 10 of Protocol 4 on cotton, as        further amount calculated by the formula applicable
last amended by Council Regulation (EC) No 1553/95 (1),           when the guaranteed maximum quantity is overun but
                                                                  with a 15 % increase in the estimate for unginned cotton
                                                                  production; whereas Commission Regulation (EC) No
                                                                  1670/97 (6) determined estimated production for the
                                                                  1997/98 marketing year; whereas application of these
Having regard to Council Regulation (EC) No 1554/95 of            rules gives the advance payment rates for each Member
29 June 1995 (2) laying down general rules for the system         State indicated hereunder,
of aid for cotton and repealing Regulation (EEC) No
2169/81, as amended by Regulation (EC) No 1584/96 (3),
and in particular Articles 3, 4 and 5 thereof,
                                                                  HAS ADOPTED THIS REGULATION:
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 rela-
tionship between the two prices as specified in Article 1                                    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)         1. The world market price for unginned cotton as indi-
No 1740/97 (5); whereas if it cannot be determined in this        cated in Article 3 of Regulation (EC) No 1554/95 is set at
way it is to be based on the last price determined;               ECU 33,793 per 100 kilograms.
                                                                  2. Advance payment of the aid as indicated in Article 5
                                                                  (3) of Regulation (EC) No 1554/95 shall be at the rate of:
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         ECU 33,601 per 100 kilograms in Spain,
the most favourable offers and quotations on the world             ECU 39,660 per 100 kilograms in Greece,
market of those considered representative of the real
market trend; whereas to this end an average is to be              ECU 72,507 per 100 kilograms in other Member
calculated of offers and quotations on one or more Euro-               States.
pean exchanges for a cif product to a North European
port from the supplier countries considered most repres-
entative as regards international trade; whereas these rules
for determination of the world market price for ginned
cotton provide for adjustments to reflect differences in                                     Article 2
product quality and the nature of offers and quotations;
(1) OJ L 148, 30. 6. 1995, p. 45.                                 This Regulation shall enter into force on 19 February
(2) OJ L 148, 30. 6. 1995, p. 48.                                 1998.
(3) OJ L 206, 16. 8. 1996, p. 16.
(4) OJ L 123, 4. 5. 1989, p. 23.
(5) OJ L 244, 6. 9. 1997, p. 1.                                   (6) OJ L 237, 28. 8. 1997, p. 1.
 ---pagebreak--- 19. 2. 98     EN               Official Journal of the European Communities                      L 48/45
          This Regulation shall be binding in its entirety and directly applicable in all Member
          States.
          Done at Brussels, 18 February 1998.
                                                                  For the Commission
                                                                     Franz FISCHLER
                                                               Member of the Commission