CELEX: 31998R2312
Language: en
Date: 1998-10-26 00:00:00
Title: Commission Regulation (EC) No 2312/98 of 26 October 1998 determining the world market price for unginned cotton and the rate for the aid

L 288/20              EN                Official Journal of the European Communities                                 27. 10. 98
                                   COMMISSION REGULATION (EC) No 2312/98
                                                    of 26 October 1998
                  determining the world market price for unginned cotton and the rate for the aid
THE COMMISSION OF THE EUROPEAN COMMUNITIES,                        Whereas application of the above rules gives the world
                                                                   market price for unginned cotton indicated hereunder;
Having regard to the Treaty establishing the European              Whereas Article 5 (3a), first sentence, of Regulation (EC)
Community,                                                         No 1554/95 stipulates that the advance payment rate for
                                                                   the aid is to be the guide price less the world market price
                                                                   and less a further amount calculated by the formula
                                                                   applicable when the guaranteed maximum quantity is
                                                                   overun but with a 15 % increase in the estimate for
Having regard to the Act of Accession of Greece, and in            unginned cotton production; whereas Commission Regu-
particular paragraphs 3 and 10 of Protocol 4 on cotton, as         lation (EC) No 1844/98 (6) determined estimated produc-
last amended by Council Regulation (EC) No 1553/95 (1),            tion for the 1998/99 marketing year; whereas application
                                                                   of these rules gives the advance payment rates for each
                                                                   Member State indicated hereunder;
Having regard to Council Regulation (EC) No 1554/95 of
29 June 1995 (2) laying down general rules for the system          Whereas the average rate for the dollar is different from
of aid for cotton and repealing Regulation (EEC) No                that used for Commission Regulation (EC) No 2302/
2169/81, as last amended by Regulation (EC) No 1419/               98 (7);
98 (3), and in particular Articles 3, 4 and 5 thereof,
Whereas Article 3 of Regulation (EC) No 1554/95
requires a world market price for unginned cotton to be            HAS ADOPTED THIS REGULATION:
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)
No 1664/98 (5); whereas if it cannot be determined in this         1. The world market price for unginned cotton as indi-
way it is to be based on the last price determined;                cated in Article 3 of Regulation (EC) No 1554/95 is set at
                                                                   ECU 22,523 per 100 kilograms.
Whereas Article 4 of Regulation (EC) No 1554/95                    2. Advance payment of the aid as indicated in Article 5
requires the world market price for ginned cotton to be            (3a), first sentence, of Regulation (EC) No 1554/95 shall
determined for a product of specific characteristics using         be at the rate of:
the most favourable offers and quotations on the world
market of those considered representative of the real              — ECU 48,060 per 100 kilograms in Spain,
market trend; whereas to this end an average is to be              — ECU 46,997 per 100 kilograms in Greece,
calculated of offers and quotations on one or more Euro-
pean exchanges for a cif product to a North European               — ECU 83,777 per 100 kilograms in other Member
port from the supplier countries considered most repres-                States.
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
product quality and the nature of offers and quotations;
                                                                                              Article 2
whereas these adjustments are specified in Article 2 of
Regulation (EEC) No 1201/89;
                                                                   This Regulation shall enter into force on 27 October
(1)  OJ L 148, 30. 6. 1995, p. 45.                                 1998.
(2)  OJ L 148, 30. 6. 1995, p. 48.
(3)  OJ L 190, 4. 7. 1998, p. 4.
(4)  OJ L 123, 4. 5. 1989, p. 23.                                  (6) OJ L 240, 28. 8. 1998, p. 3.
( 5) OJ L 211, 29. 7. 1998, p. 9.                                  (7) OJ L 287, 24. 10. 1998, p. 23.
 ---pagebreak--- 27. 10. 98     EN               Official Journal of the European Communities                      L 288/21
           This Regulation shall be binding in its entirety and directly applicable in all Member
           States.
           Done at Brussels, 26 October 1998.
                                                                   For the Commission
                                                                      Franz FISCHLER
                                                                 Member of the Commission