CELEX: 31997R2245
Language: en
Date: 1997-11-11 00:00:00
Title: COMMISSION REGULATION (EC) No 2245/97 of 11 November 1997 determining the world market price for unginned cotton and the rate for the aid

L 307/24           I EN I              Official Journal of the European Communities                               12. 11 . 97
                                    COMMISSION REGULATION (EC) No 2245/97
                                                    of 11 November 1997
                  determining the world market price for unginned cotton and the rate for the aid
 THE COMMISSION OF THE EUROPEAN COMMUNITIES,                       ferences in product quality and the nature of offers and
                                                                   quotations; whereas these adjustments are specified in
                                                                   Article 2 of Regulation (EEC) No 1201 /89;
 Having regard to the Treaty establishing the European             Whereas application of the above rules gives the world
 Community,                                                        market price for unginned cotton indicated hereunder;
                                                                  Whereas Article 5 (3) of Regulation (EC) No 1554/95
                                                                   stipulates that the advance payment rate for the aid is to
 Having regard to the Act of Accession of Greece, and in           be the guide price less the world market price and less a
 particular paragraphs 3 and 10 of Protocol 4 on cotton, as        further amount calculated by the formula applicable when
 last amended by Council Regulation (EC) No 1 553/95 ('),          the guaranteed maximum quantity is overun but with a
                                                                   15% increase in the estimate for unginned cotton
                                                                   production; whereas Commission Regulation (EC) No
                                                                   1 670/97 (6) determined estimated production for the
                                                                   1997/98 marketing year; whereas application of these
 Having regard to Council Regulation (EC) No 1554/95 of            rules gives the advance payment rates for each Member
 29 June 1 995 (2) laying down general rules for the system        State indicated hereunder,
 of aid for cotton and repealing Regulation (EEC) No
 2169/81 , as amended by Regulation (EC) No 1 584/96 (3),
 and in particular Articles 3, 4 and 5 thereof,
                                                                   HAS ADOPTED THIS REGULATION :
 Whereas Article 3 of Regulation (EC) No 1554/95
 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
                                                                                              Article 1
 tionship between the two prices as specified in Article 1
(2) of Commission Regulation (EEC) No 1201 /89 of 3
 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 1740/97 (■'); 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 36,231 per 100 kilograms.
                                                                  2. Advance payment of the aid as indicated in Article 5
                                                                  (3) of Regulation (EC) No 1 554/95 shall be at the rate of:
Whereas Article 4 of Regulation (EC) No 1554/95
 requires the world market price for ginned cotton to be          — ECU 31,163 per 100 kilograms in Spain,
 determined for a product of specific characteristics using
 the most favourable offers and quotations on the world           — ECU 37,222 per 100 kilograms in Greece,
 market of those considered representative of the real            — ECU 70,069 per 100 kilograms in other Member
 market trend; whereas to this end an average is to be                 States .
calculated of offers and quotations on one or more Euro­
 pean exchanges for a cif product to a North European
 port from the supplier countries considered most repre­
sentative as regards international trade; whereas these
rules for determination of the world market price for                                         Article 2
ginned cotton provide for adjustments to reflect dif­
(>) OJ L 148 , 30. 6. 1995, p. 45.                                This Regulation shall enter into force on 12 November
(2) OJ L 148 , 30. 6. 1995, p. 48 .                                1997 .
Y) OJ L 206, 16. 8. 1996, p. 16.
(«) OJ L 123, 4. 5. 1989, p. 23.
  ? OJ L 244, 6. 9. 1997, p. 1 .                                  («) OJ L 237, 28 . 8 . 1997, p. 1 .
 ---pagebreak--- 12. 11 . 97     EN             Official Journal of the European Communities                        L 307/25
            This Regulation shall be binding in its entirety and directly applicable in all Member
            States .
            Done at Brussels, 11 November 1997.
                                                                   For the Commission
                                                                     Franz FISCHLER
                                                               Member of the Commission