CELEX: 31998R2707
Language: en
Date: 1998-12-15 00:00:00
Title: Commission Regulation (EC) No 2707/98 of 15 December 1998 determining the world market price for unginned cotton and the rate for the aid

16. 12. 98            EN               Official Journal of the European Communities                               L 340/21
                                   COMMISSION REGULATION (EC) No 2707/98
                                                   of 15 December 1998
                  determining the world market price for unginned cotton and the rate for the aid
THE COMMISSION OF THE EUROPEAN COMMUNITIES,                       quotations; 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 the second subparagraph of Article 5(3a) of
                                                                  Regulation (EC) No 1554/95 stipulates that the advance
                                                                  payment rate for the aid is to be the guide price less the
Having regard to the Act of Accession of Greece, and in           world market price and less a further amount calculated
particular paragraphs 3 and 10 of Protocol 4 on cotton, as        by the formula applicable when the guaranteed maximum
last amended by Council Regulation (EC) No 1553/95 (1),           quantity is overrun but with a minimum 7,5 % increase
                                                                  in the revised estimate for unginned cotton production;
                                                                  whereas Commission Regulation (EC) No 2591/98 (6)
                                                                  fixes the revised estimate of production of unginned
                                                                  cotton for the 1998/99 marketing year and the relevant
Having regard to Council Regulation (EC) No 1554/95 of            percentage increase; whereas application of these rules
29 June 1995 (2) laying down general rules for the system         gives the advance payment rates for each Member State
of aid for cotton and repealing Regulation (EEC) No               indicated hereunder,
2169/81, as last amended by Regulation (EC) No 1419/
98 (3), and in particular Articles 3, 4 and 5 thereof,
Whereas Article 3 of Regulation (EC) No 1554/95                   HAS ADOPTED THIS REGULATION:
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
(2) of Commission Regulation (EEC) No 1201/89 of 3                                           Article 1
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 1664/98 (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 21,820 per 100 kilograms.
                                                                  2. Advance payment of the aid as indicated in Article 5
                                                                  (3a), second sentence, of Regulation (EC) No 1554/95
Whereas Article 4 of Regulation (EC) No 1554/95                   shall be at the rate of:
requires the world market price for ginned cotton to be
determined for a product of specific characteristics using
the most favourable offers and quotations on the world            — ECU 62,370 per 100 kilograms in Spain,
market of those considered representative of the real             — ECU 52,165 per 100 kilograms in Greece,
market trend; whereas to this end an average is to be
calculated of offers and quotations on one or more Euro-          — ECU 84,480 per 100 kilograms in other Member
pean exchanges for a cif product to a North European                   States.
port from the supplier countries considered most
representative as regards international trade; whereas these
rules for determination of the world market price for
ginned cotton provide for adjustments to reflect differ-                                     Article 2
ences in product quality and the nature of offers and
(1) OJ  L 148, 30. 6. 1995, p. 45.                                This Regulation shall enter into force on 16 December
(2) OJ  L 148, 30. 6. 1995, p. 48.                                1998.
(3) OJ  L 190, 4. 7. 1998, p. 4.
(4) OJ  L 123, 4. 5. 1989, p. 23.
(5) OJ  L 211, 29. 7. 1998, p. 9.                                 (6) OJ L 324, 2. 12. 1998, p. 25.
 ---pagebreak--- L 340/22     EN               Official Journal of the European Communities                      16. 12. 98
         This Regulation shall be binding in its entirety and directly applicable in all Member
         States.
         Done at Brussels, 15 December 1998.
                                                                 For the Commission
                                                                    Franz FISCHLER
                                                               Member of the Commission