CELEX: 31998R2372
Language: en
Date: 1998-10-30
Title: Commission Regulation (EC) No 2372/98 of 30 October 1998 determining the world market price for unginned cotton and the rate for the aid

31. 10. 98            EN                Official Journal of the European Communities                                  L 293/75
                                   COMMISSION REGULATION (EC) No 2372/98
                                                    of 30 October 1998
                  determining the world market price for unginned cotton and the rate for the aid
THE COMMISSION OF THE EUROPEAN COMMUNITIES,                        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 (3a), first sentence, of Regulation (EC)
                                                                   No 1554/95 stipulates that the advance payment rate for
                                                                   the aid is to be the guide price less the world market price
Having regard to the Act of Accession of Greece, and in
                                                                   and less a further amount calculated by the formula
particular paragraphs 3 and 10 of Protocol 4 on cotton, as
                                                                   applicable when the guaranteed maximum quantity is
last amended by Council Regulation (EC) No 1553/95 (1),
                                                                   overun but with a 15 % increase in the estimate for
                                                                   unginned cotton production; whereas Commission Regu-
                                                                   lation (EC) No 1844/98 (6) determined estimated produc-
                                                                   tion for the 1998/99 marketing year; whereas application
Having regard to Council Regulation (EC) No 1554/95 of             of these rules gives the advance payment rates for each
29 June 1995 (2) laying down general rules for the system          Member State indicated hereunder,
of aid for cotton and repealing Regulation (EEC) No
2169/81, as last amended by Regulation (EC) No 1419/
98 (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 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 22,106 per 100 kilograms.
                                                                   2. Advance payment of the aid as indicated in Article 5
                                                                   (3a), first sentence, of Regulation (EC) No 1554/95 shall
Whereas Article 4 of Regulation (EC) No 1554/95                    be at the rate of:
requires the world market price for ginned cotton to be
determined for a product of specific characteristics using         — ECU 48,477 per 100 kilograms in Spain,
the most favourable offers and quotations on the world
market of those considered representative of the real              — ECU 47,414 per 100 kilograms in Greece,
market trend; whereas to this end an average is to be              — ECU 84,194 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 repres-
entative as regards international trade; whereas these rules
for determination of the world market price for ginned
cotton provide for adjustments to reflect differences in                                      Article 2
product quality and the nature of offers and quotations;
(1) OJ  L 148, 30. 6. 1995, p. 45.                                 This Regulation shall enter into force on 1 November
(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 240, 28. 8. 1998, p. 3.
 ---pagebreak--- L 293/76     EN               Official Journal of the European Communities                      31. 10. 98
         This Regulation shall be binding in its entirety and directly applicable in all Member
         States.
         Done at Brussels, 30 October 1998.
                                                                 For the Commission
                                                                    Franz FISCHLER
                                                               Member of the Commission