CELEX: 31988R3026
Language: en
Date: 1988-10-01 00:00:00
Title: Commission Regulation (EEC) No 3026/88 of 30 September 1988 fixing the aid for cotton

1 . 10 . 88                            Official Journal of the European Communities                              No L 271 /69
                                     COMMISSION REGULATION (EEC) No 3026/88
                                                     of 30 September 1988
                                                   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
                                                                   mined :
 Economic Community,
 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 2183/81 of 30 July 1981 laying down rules
 particular paragraphs 3 and 10 of Protocol 4 on cotton            implementing the system of aid for cotton (% as last
annexed thereto, as amended by Protocol 14 annexed to              amended by Regulation (EEC) No 2993/88 (J), minus the
 the Act of Accession of Spain and of Portugal, and Regu­          cost of ginning ;
lation (CEE) 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 2183/81 ; whereas
(EEC) No 2261 /88 (3), 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, under Article 4 (4) of Regulation (EEC) No
Whereas the aid is equal to the difference between these          2169/81 , if there are no suitable offers or quotations for
two prices ;                                                      determining the world market price for cotton seed, that
                                                                  price shall be established on the basis of the most
Whereas the guide price for the 1988/89 marketing year            favourable offers and quotations for cotton seed recorded
was fixed by Council Regulation (EEC) No 2259/88 (4) ;            on the Community market or, if those offers and quota­
                                                                  tions cannot be established on the basis of the value of
Whereas, under the system of maximum guaranteed                   the products obtained from processing the seed in the
quantities, the amount of the aid is subject to the reduc­        Community, less the processing cost ; whereas this value
tion provided for in Commission Regulation (EEC) No               is determined in accordance with Article 4 of Regulation
2727/88 (*) as regards cotton seed ;                              (EEC) No 2183/81 ;
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 1636/87 (9),
(') OJ No L 377, 31 . 12. 1987, p. 48.
I2) OJ No L 211 , 31 . 7. 1981 , p. 2.                            (*) OJ  No  L  211 , 31 . 7. 1981 , p. 35.
(3) OJ No L 199, 26. 7. 1988 , p. 8 .                             o   OJ  No  L  270,  30.  9. 1988,  p. 61 .
(4) OJ No L 199, 26. 7. 1988, p. 6.                               (") OJ  No  L  164,  24.  6. 1985,  p. 1.
(0 OJ No L 241 , 1 . 9 . 1988 , p. 104.                           0   OJ  No  L  153,  13.  6. 1987,  p. 1.
 ---pagebreak---   No L 271 /70                         Official Journal of the European Communities                             1 . 10. 88
 — 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
     tion to the Community currencies referred to in the                                  Article 1
     previous indent, and the aforesaid coefficient ;
 Whereas the aid must be fixed once a month, and in such
 a way that it can be applied from the first day of the          The aid for unginned cotton provided for in Article 5 of
 month following the date of fixing ; whereas it may be          Regulation (EEC) No 2169/81 shall be 55,442 ECU per
 altered between fixings ;                                       100 kilograms.
 Whereas the aid for cotton was fixed latterly by Regula­
 tion (EEC) No 2710/88 ('); whereas the change in the
 world market price for cotton leads to an adjustment of                                  Article 2
 the aid ; whereas it was noted that the change took place
 on 19 September 1988 ; whereas provision should accor­          This Regulation shall enter into force on the day of its
 dingly therefore be made to adjust the aid from that date ;
                                                                 publication in the Official Journal of the European
                                                                 Communities.
 Whereas it follows from applying these provisions to the
 offers and quotations known to the Commission that the
 aid for cotton should be as set out in this Regulation,         It shall apply with effect from 19 September 1988.
                 This Regulation shall be binding in its entirety and directly applicable in all Member
                 States .                         \
                 Done at Brussels, 30 September 1988 .
                                                                          For the Commission
                                                                           Frans ANDRIESSEN
                                                                              Vice-President
(') OJ No L 241 , 1 . 9. 1988, p. 56.