CELEX: 31987R2636
Language: en
Date: 1987-09-01 00:00:00
Title: Commission Regulation (EEC) No 2636/87 of 31 August 1987 fixing the aid for cotton

No L 248/46                              Official Journal of the European Communities                                    1 . 9. 87
                                      COMMISSION REGULATION (EEC) No 2636/87
                                                        of 31 August 1987
                                                    fixing the aid for cotton
THE COMMISSION OF THE EUROPEAN COMMUNITIES,                         be established on the basis of the most recent price deter­
                                                                    mined :
Having regard to the Treaty establishing the European
Economic Community,
                                                                   Whereas the world market price for unginned cotton is
Having regard to the Act of Accession of Spain and                  equal to the sum of the values for ginned cotton and
Portugal,                                                           cotton seed defined in Article 1 of Commission Regula­
                                                                    tion (EEC) No 2183/81 of 30 July 1981 laying down rules
Having regard to the Act of Accession of Greece, and in             implementing the system of aid for cotton (*), as last
particular paragraphs 3 and 10 of Protocol 4 on cotton              amended by Regulation (EEC) No 261 8/87 (*), minus the
annexed thereto, as amended by Protocol 14 annexed to               cost of ginning ;
the Act of Accession of Spain and of Portugal,
                                                                    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 fpr the               the prices determined in accordance with Articles 2 and 3
system of aid for cotton ('), as last amended by Regulation         of Commission Regulation (EEC) No 2183/81 ; whereas
(EEC) No 2276/87 (2), 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 the aid is equal to the difference between these
two prices ;                                                        Whereas, under Article 4 (4) of Regulation (EEC) No
                                                                    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 the 1987/88 marketing year              price shall be established on the basis of the most
was fixed by Council Regulation (EEC) No 1966/87 (3) ;              favourable offers and quotations for cotton seed recorded
                                                                    on the Community market or, if those offers and quota­
Whereas, under the system of maximum guaranteed                     tions cannot be established on the basis of the value of
quantities, the amount of the aid is subject to the reduc­          the products obtained from processing the seed in the
tion provided for in Commission Regulation (EEC) No                 Community, less the processing cost ; whereas this value
2619/87 (4) as regards cotton seed ;                                is determined in accordance with Article 4 of Regulation
                                                                    (EEC) No 2183/81 ;
Whereas the world market price for unginned cotton is
determined periodically on the basis of the world market
prices recorded for ginned cotton and cotton seed, taking           Whereas, if the subsidy system is to operate normally,
into account the estimated yield of the Community                   subsidies should be calculated on the following basis :
harvest in cotton seed and in ginned cotton and also the
net cost of ginning ;
                                                                    — in the case of currencies which are maintained in rela­
Whereas the world market price for ginned cotton and                     tion to each other at any given moment within a band
cotton seed is determined in accordance with Article 4 of                of 2,25 % , a rate of exchange based on their central
Regulation (EEC) No 2169/81 ;                                            rate, multiplied by the corrective factor provided for in
                                                                         the last paragraph of Article 3 ( 1 ) of Council Regula­
Whereas, if the world market price for unginned cotton                   tion (EEC) No 1676/85 0, as last amended by Regula­
cannot be determined as described above, this price shall                tion (EEC) No 1636/87 (8),
(') OJ  No L 211 , 31 . 7. 1,981 , p. 2.                            0   OJ  No L 211 ,  31 . 7. 1981 , p. 35.
(2) OJ  No L 209,  31 . 7. 1987, p. 5.                              (6) See  page 17 of this Official  Journal.
(3) OJ  No L 184,  3 . 7. 1987, p. 18 .                             0   OJ  No L 164,   24. 6. 1985,   p. 1 .
(4) See page 18 of this Official Journal .                           8  OJ  No L 153,   13. 6. 1987,   p. 1 .
                                                              l
 ---pagebreak--- 1 . 9 . 87                            Official Journal of the European Communities                        No L 248 /47
— 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 ;
                                                                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 51,944 ECU 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,         1987.
                 This Regulation shall be binding in its entirety and directly applicable in all Member
                 States .                                                                  ..
                  Done at Brussels, 31 August 1987.
                                                                         For the Commission
                                                                          Frans ANDRIESSEN
                                                                             Vice-President