CELEX: 31997R0465
Language: en
Date: 1997-03-11 00:00:00
Title: COMMISSION REGULATION (EC) No 465/97 of 11 March 1997 determining the world market price for unginned cotton and the rate for the aid

12. 3 . 97            EN                Official Journal of the European Communities                               No L 70/7
                                           COMMISSION REGULATION (EC) No 465197
                                                          of 11 March 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
  Having regard to the Act of Accession of Greece, and in
                                                                        stipulates that the advance payment rate for the aid is to
  particular paragraphs 3 and 10 of Protocol 4 on cotton, as            be the guide price less the world market price and less a
  last amended by Council Regulation (EC) No 1 553/95 ('),
                                                                        further amount calculated by the formula applicable when
                                                                        the guaranteed maximum quantity is overun but with a
                                                                        15 % increase in the estimate for unginned cotton
                                                                        production; whereas Commission Regulation (EC) No
                                                                        1 683/96 (6) determined estimated production for the
  Having regard to Council Regulation (EC) No 1554/95 of                1996/97 marketing year; whereas application of these
  29 June 1995 (2) laying down general rules for the system            rules gives the advance payment rates for each Member
                                                                       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)
 No 1645/96 (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 38,636 per 100 kilograms.
                                                                      2. Advance payment of the aid as indicated in Article 5
 Whereas Article 4 of Regulation (EC) No 1554/95                      (3) of Regulation (EC) No 1554/95 shall be at the rate of:
 requires the world market price for ginned cotton to be
 determined for a product of specific characteristics using           — ECU 55,971 per 100 kilograms in Spain,
 the most favourable offers and quotations on the world
 market of those considered representative of the real               — ECU 25,463 per 100 kilograms in Greece,
 market trend; whereas to this end an average is to be               — ECU 67,664 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 repre­
sentative as regards international trade; whereas these
rules for determination of the world market price for
ginned cotton provide for adjustments to reflect dif                                            Article 2
(•)  OJ  No   L 148,  30. 6. 1995, p. 45.
 2)  OJ  No   L 148 , 30. 6. 1995, p. 48 .                           This Regulation shall enter into force on 12 March 1997.
(3)  OJ  No   L 206,  16. 8 . 1996, p. 16.
(<)  OJ  No   L 123,  4. 5. 1989, p. 23 .
Is) OJ No L 207, 17. 8. 1996, p. 3.                                  (<) OJ No L 217, 28 . 8 . 1996, p. 1 .
 ---pagebreak--- No L 70/ 8     EN             Official Journal of the European Communities                        12 . 3 . 97
           This Regulation shall be binding in its entirety and directly applicable in all Member
           States .
           Done at Brussels, 11 March 1997.
                                                                  For the Commission
                                                                    Franz FISCHLER
                                                              Member of the Commission