CELEX: 31991R2601
Language: en
Date: 1991-08-31 00:00:00
Title: Commission Regulation (EEC) No 2601/91 of 30 August 1991 fixing the aid for cotton

31 . 8 . 91                              Official Journal of the European Communities                              No L 243/37    /
                                        COMMISSION REGULATION (EEC) No 2601/91
                                                         of 30 August 1991
                                                     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 price shall
 Having regard to the Treaty establishing the European               be established on the basis of the most recent price deter­
 Economic Community,                                                 mined ;
 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 1201 /89 of 3 May 1989 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 2432/90 Q, minus the
the Act of Accession of Spain and of Portugal, and Regu­             cost of ginning ;
lation (EEC) 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 1201 /89 ; whereas
(EEC) No 791 /89 (3), and in particular Article 5 ( 1 ) thereof,     the world market price is determined on the basis of the
                                                                    most favourable offers and quotations recorded, excluding
                                                                    offers and quotations which cannot be regarded as repre­
Having regard to the opinion of the Monetary Committee,              sentative of the real market trend ;
Whereas, pursuant to Article 5 of Regulation (EEC) No
2169/81 , aid must be granted for unginned cotton                   Whereas the necessary adjustments must be made in cases
harvested in the Community when the world market                    where the offers and quotations recorded do not satisfy
price for unginned cotton is below the guide price ;                the requirements indicated above ;
Whereas the aid is equal to the difference between these            Whereas, pursuant to Article 4 (4) of Regulation (EEC) No
two prices ;                                                        2169/81 , if there are no suitable offers or quotations for
                                                                    determining the world market price for cotton seed, that
Whereas the guide price for cotton has been fixed by                price shall be established on the basis of the most
Council Regulation (EEC) No 1730/91 (4) for the 1991 /92            favourable offers and quotations for cotton seed recorded
marketing year ;                                                    on the Community market or, if those offers and quota­
                                                                    tions cannot be established on the basis of the value of
Whereas the abatement of the subsidy which arises, where            the products obtained from processing the seed in the
appropriate, from the system of maximum guaranteed                  Community, less the processing cost ; whereas this value
quantities for the 1991 /92 marketing year, has been fixed          is determined in accordance with Article 4 of Regulation
by Commission Regulation (EEC) No 2606/91 (^ ;                      (EEC) No 1201 /89 ;
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 2205/90 (9),
O   OJ   No  L 377, 31 . 12. 1987, p. 49.
0   OJ   No  L 211 , 31 . 7. 1981 , p. 2.                           (*) OJ  No  L  123,  4. 5. 1989, p. 23.
(3) OJ   No  L 85, 30. 3. 1989, p. 7.                               O   OJ  No  L  228,  22. 8 . 1990, p. 23.
(<) OJ   No  L 163, 26. 6. 1991 , p. 1 .                            (8) OJ  No  L  164,  24. 6. 1985, p. 1 .
Is) See page 53 of this Official Journal.                           (9) OJ  No  L  201 , 31 . 7. 1990 , p. 9 .
 ---pagebreak--- No L 243/38                         Official Journal of the European Communities                              31 . 8 . 91
— for the other currencies, an exchange rate based on an        HAS ADOPTED THIS REGULATION :
    average of the ecu rates published in the Official
    Journal of the European Communities, C series, over
                                                                                        Article 1
    a period to be determined, multiplied by the coeffi­
    cient referred to in the preceding indent ;
                                                                The aid for unginned cotton provided for in Article 5 of
Whereas the aid must be fixed once a month, and in such         Regulation (EEC) No 2169/81 shall be ECU 62,094 per
a way that it can be applied from the first day of the          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,         1991 .
                 This Regulation shall be binding in its entirety and directly applicable in all Member
                 States.
                 Done at Brussels, 30 August 1991 .
                                                                         For the Commission
                                                                          Ray MAC SHARRY
                                                                     Member of the Commission