CELEX: 31992R1111
Language: en
Date: 1992-05-01 00:00:00
Title: Commission Regulation (EEC) No 1111/92 of 30 April 1992 fixing the aid for cotton

1 . 5. 92                              Official Journal of the European Communities                               No L 117/71
                                     COMMISSION REGULATION (EEC) No 1111/92
                                                         of 30 April 1992
                                                  fixing the aid for cotton
 THE COMMISSION OF THE EUROPEAN COMMUNITIES,                        Whereas the world market price for ginned cotton and
                                                                    cotton seed is determined in accordance with Article 4 of
 Having regard to the Treaty establishing the European              Regulation (EEC) No 2169/81 ;
 Economic Community,
                                                                    Whereas, if the world market price for unginned cotton
 Having regard to the Act of Accession of Spain and                 cannot be determined as described above, this price shall
Portugal,                                                           be established on the basis of the most recent price deter­
                                                                    mined ;
 Having regard to the Act of Accession of Greece, and in
particular paragraphs 3 and 10 of Protocol 4 on cotton              Whereas the world market price for unginned cotton is
annexed thereto, as amended by Protocol 14 annexed to               equal to the sum of the values for ginned cotton and
the Act of Accession of Spain and of Portugal, and Regu­            cotton seed defined in Article 1 of Commission Regula­
lation (EEC) No 4006/87 ('),                                        tion (EEC) No 1201 /89 of 3 May 1989 laying down rules
                                                                    implementing the system of aid for cotton (4), as last
Having regard to Council Regulation (EEC) No 2169/81                amended by Regulation (EEC) No 2756/91 (*), minus the
of 27 July 1981 laying down the general rules for the               cost of ginning ;
system of aid for cotton (2), as last amended by Regulation
(EEC) No 791 /89 (3), and in particular Article 5 (1 ) thereof,     Whereas the above values are established on the basis of
                                                                    the prices determined in accordance with Articles 2 and 3
Having regard to the opinion of the Monetary Committee,
                                                                    of Commission Regulation (EEC) No 1201 /89 ; whereas
                                                                    the world market price is determined on the basis of the
Whereas,   pursuant to Article 5 of Regulation (EEC) No             most favourable offers and quotations recorded, excluding
2169/81 ,  aid must be granted for unginned cotton                  offers and quotations which cannot be regarded as repre­
harvested   in the Community when the world market                  sentative of the real market trend ;
price for  unginned cotton is below the guide price ;
Whereas the aid is equal to the difference between these            Whereas the necessary adjustments must be made in cases
two prices ;                                                        where the offers and quotations recorded do not satisfy
                                                                    the requirements indicated above ;
Whereas in the absence of the guide price for cotton
applicable during the 1992/ 1993 marketing year, the aid            Whereas, pursuant to Article 4 (4) of Regulation (EEC) No
amount in the case of advance fixing for this marketing             2169/81 , if there are no suitable offers or quotations for
year has only been calculated provisionally on the basis of         determining the world market price for cotton seed, that
the proposals of the Commission to the Council of the               price shall be established on the basis of the most
prices valid for the 1992/93 marketing year ; whereas that          favourable offers and quotations for cotton seed recorded
amount must be applied provisionally only and will have             on the Community market or, if those offers and quota­
to be confirmed or replaced when the price for the                  tions cannot be established on the basis of the value of
1992/93 marketing year is known ;                                   the products obtained from processing the seed in the
                                                                    Community, less the processing cost ; whereas this value
Whereas the abatement of the subsidy which arises, where            is determined in accordance with Article 4 of Regulation
appropriate, from the system of maximum guaranteed                  (EEC) No 1201 /89 ;
quantities for the 1992/ 1993 marketing year, has not, to
date, been fixed ; whereas the amount of the subsidy for           Whereas, if the subsidy system is to operate normally,
the 1992/ 1993 marketing year has been provisionally                subsidies should be calculated on the following basis :
calculated on the basis of an abatement of ECU 20,558
per 100 kilograms ;                                                — in the case of currencies which are maintained in rela­
                                                                        tion to each other at any given moment within a band
Whereas the world market price for unginned cotton is                   of 2,25 % , a rate of exchange based on their central
determined periodically on the basis of the world market                rate, multiplied by the corrective factor provided for in
prices recorded for ginned cotton and cotton seed, taking               the last paragraph of Article 3 (1 ) of Council Regula­
into account the estimated yield of the Community                       tion (EEC) No 1676/85 (6), as last amended by Regula­
harvest in cotton seed and in ginned cotton and also the                tion (EEC) No 2205/90 0,
net cost of ginning ;
                                                                   (4) OJ  No  L  123,  4. 5. 1989, p. 23.
(') OJ No L 377, 31 . 12. 1987, p. 49.                             0   OJ  No  L  264,  20. 9. 1991 , p. 21 .
(2) OJ No L 211 , 31 . 7. 1981 , p. 2.                             f)  OJ  No  L  164,  24. 6. 1985, p. 1 .
0 OJ No L 85, 30. 3. 1989, p. 7.                                   0   OJ  No  L  201 , 31 . 7. 1990, p. 9.
 ---pagebreak--- No L 117/72                         Official Journal of the European Communities                                  1 . 5. 92
— 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 ;                 1 . The aid for unginned cotton provided for in Article
                                                                5 of Regulation (EEC) No 2169/81 shall be ECU 62,218
                                                                per 100 kilograms.
Whereas the aid must be fixed once a month, and in such         2.    However, the amount of the aid will be confirmed or
a way that it can be applied from the first day of the          replaced with effect from 1 May 1992 to take account of
month following the date of fixing ; whereas it may be          the guide price of cotton adopted in respect of the 1992/
altered between fixings ;                                       1993 marketing year and which appear to have been
                                                                offered in the largest quantities.
Whereas it follows from applying these provisions to the                                Article 2
offers and quotations known to the Commission that the
aid for cotton should be as set out in this Regulation,         This Regulation shall enter into force on 1 May 1992.
                 This Regulation shall be binding in its entirety and directly applicable in all Member
                 States.
                 Done at Brussels, 30 April 1992.
                                                                         For the Commission
                                                                          Ray MAC SHARRY
                                                                     Member of the Commission