CELEX: 31988R0548
Language: en
Date: 1988-03-01 00:00:00
Title: Commission Regulation (EEC) No 548/88 of 29 February 1988 fixing the aid for cotton

1 . 3. 88                                 Official Journal of the European Communities                               No L 54/25
                                       COMMISSION REGULATION (EEC) No 548/88
                                                        of 29 February 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
Economic Community,                                                 mined ;
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 505/88 f), 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                the prices determined in accordance with Articles 2 and 3
of 27 July 1981 laying down the general rules for the               of Commission Regulation (EEC) No 2183/81 ; whereas
system of aid for cotton (2), as last amended by Regulation         the world market price is determined on the basis of the
(EEC) No 2276/87 (3), and in particular Article 5 (1 )               most favourable offers and quotations recorded, excluding
thereof,
                                                                     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 1987/88 marketing year               favourable offers and quotations for cotton seed recorded
was fixed by Council Regulation (EEC) No 1966/87 (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
2619/87 (*) 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 die 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 (*), as last amended by Regula­
                                                                         tion (EEC) No 1636/87Q,
(■) OJ  No L  377,  31 . 12. 1987, p. 48.
0   OJ  No L  211 , 31 . 7. 1981 , p. 2.                             M  OJ   No L  211 , 31 . 7. 1981 , p. 35.
(3) OJ  No L  209,  31 . 7. 1987, p. 5.                              0  OJ   No L  52, 26. 2. 1988, p. 18.
(<) OJ  No L  184,  3. 7. 1987, p. 18.                               d) OJ   No L  164, 24. 6. 1985, p. 1 .
«   OJ  No L  248,  1 . 9. 1987, p. 18 .                             0  OJ   No  L 153, 13. 6. 1987, p. 1 .
 ---pagebreak--- No L 54/26                            Official Journal of the European Communities                                  1 . 3. 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                               Article 1
   . tion to the ' Community currencies referred to in the
     previous indent, and the aforesaid coefficient ;
Whereas the aid must be fixed once a month, and in such           The aid for unginned cotton provided for in Article 5 of
a way that it can be applied from the first day of the            Regulation (EEC) No 2169/81 shall be 65,956 ECU per
month following the date of fixing ; whereas it may be            100 kilograms.
altered between fixings ;
Whereas it follows from applying these provisions to the                                  Article 2
offers and quotations known to the Commission that the
aid for cotton should be as set out in this Regulation,           This Regulation shall enter into force on 1 March 1988 .
                   This Regulation shall be binding in its entirety anp directly applicable in all Member
                   States.
                   Done at Brussels, 29 February 1988.
                                                                           For the Commission
                                                                           Frans ANDRIESSEN
                                                                              Vice-President