CELEX: 31998R0207
Language: en
Date: 1998-01-27 00:00:00
Title: COMMISSION REGULATION (EC) No 207/98 of 27 January 1998 determining the world market price for unginned cotton and the rate for the aid

L 21/12              EN               Official Journal of the European Communities                                28. 1. 98
                                   COMMISSION REGULATION (EC) No 207/98
                                                   of 27 January 1998
                 determining the world market price for unginned cotton and the rate for the aid
THE COMMISSION OF THE EUROPEAN COMMUNITIES,                      and 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 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
last amended by Council Regulation (EC) No 1553/95 (1),          when the guaranteed maximum quantity is overun but
                                                                 with a 15 % increase in the estimate for unginned cotton
                                                                 production; whereas Commission Regulation (EC) No
                                                                 1670/97 (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 1995 (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 1584/96 (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-
tionship between the two prices as specified in Article 1                                   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 (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 34,550 per 100 kilograms.
                                                                 2. Advance payment of the aid as indicated in Article 5
                                                                 (3) of Regulation (EC) No 1554/95 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
determined for a product of specific characteristics using        ECU 32,844 per 100 kilograms in Spain,
the most favourable offers and quotations on the world            ECU 38,903 per 100 kilograms in Greece,
market of those considered representative of the real
market trend; whereas to this end an average is to be             ECU 71,750 per 100 kilograms in other Member
calculated of offers and quotations on one or more Euro-              States.
pean exchanges for a cif product to a North European
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                                        Article 2
differences in product quality and the nature of offers
(1) OJ L 148, 30. 6. 1995, p. 45.                                This Regulation shall enter into force on 28 January
(2) OJ L 148, 30. 6. 1995, p. 48.                                1998.
(3) OJ L 206, 16. 8. 1996, p. 16.
(4) OJ L 123, 4. 5. 1989, p. 23.
(5) OJ L 244, 6. 9. 1997, p. 1.                                  (6) OJ L 237, 28. 8. 1997, p. 1.
 ---pagebreak--- 28. 1. 98     EN               Official Journal of the European Communities                      L 21/13
          This Regulation shall be binding in its entirety and directly applicable in all Member
          States.
          Done at Brussels, 27 January 1998.
                                                                  For the Commission
                                                                     Franz FISCHLER
                                                               Member of the Commission