CELEX: 31997R2547
Language: en
Date: 1997-12-17 00:00:00
Title: COMMISSION REGULATION (EC) No 2547/97 of 17 December 1997 determining the world market price for unginned cotton and the rate for the aid

L 347/36                EN             Official Journal of the European Communities                              18 . 12. 97
                                     COMMISSION REGULATION (EC) No 2547/97
                                                   of 17 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
                                                                 Article 2 of Regulation (EEC) No 1201 /89;
Having regard to the Treaty establishing the European            Whereas application of the above rules gives the world
Community,                                                       market price for unginned cotton indicated hereunder,
                                                                 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 when
last amended by Council Regulation (EC) No 1 553/95 ('),         the guaranteed maximum quantity is overun but with a
                                                                 1 5 % increase in the estimate for unginned cotton
                                                                 production; whereas Commission Regulation (EC) No
                                                                 1 670/97 (^ 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 1 584/96 (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 35,425 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          — ECU 31,969 per 100 kilograms in Spain,
determined for a product of specific characteristics using
the most favourable offers and quotations on the world           — ECU 38,028 per 100 kilograms in Greece,
market of those considered representative of the real            — ECU 70,875 per 100 kilograms in other Member
market trend; whereas to this end an average is to be                States .
calculated of offers and quotations on one or more Euro­
pean exchanges for a cif product to a North European
port from the supplier countries considered most repre­
sentative as regards international trade; whereas these
rules for determination of the world market price for                                       Article 2
ginned cotton provide for adjustments to reflect dif­
(') OJ L 148 , 30 . 6 .      p. 4J.                              This Regulation shall enter into force on 18 December
(2) OJ L 148 , 30 . 6. 1995, p. 48 .                              1997 .
(3) OJ L 206, 16. 8 . 1996, p. 16.
(*) OJ L 123, 4. 5. 1989, p. 23.
n OJ L 244, 6. 9. 1997, p. 1 .                                   (<) OJ L 237, 28 . 8 . 1997, p. 1 .
 ---pagebreak--- 18 . 12 . 97     EN             Official Journal of the European Communities                        L 347/37
             This Regulation shall be binding in its entirety and directly applicable in all Member
             States .
             Done at Brussels. 17 December 1997 .
                                                                    For the Commission
                                                                      Franz FISCHLER
                                                                Member of the Commission