Commission Regulation (EC) No 2095/95 of 31 August 1995 setting the world market price for unginned cotton

COMMISSION REGULATION (EC) No 2095/95 of 31 August 1995 setting  the world market price for unginned cotton
THE COMMISSION OF THE EUROPEAN  COMMUNITIES
,
Having regard to the Treaty establishing the European Community,
Having regard to the Act of Accession of Greece, and in particular paragraphs 3 and 10 of Protocol  4 on cotton annexed thereto, as last amended by Council Regulation (EC) No 1553/95  (1),
Having regard to Council Regulation (EC) No 1554/95 of 29 June 1995 laying down general rules for  the system of aid for cotton and repealing Regulation (EEC) No 2169/81  (2), and in particular  Articles 3 and 4 thereof,
Whereas Article 3 of Regulation (EC) No 1554/95 requires a world market price for unginned cotton  to be determined periodically from the world market price recorded for ginned cotton, using the  historical relationship between the ginned cotton and that calculated for unginned cotton; whereas  this historical relationship was specified in Article 1 (2) of Commission Regulation (EEC) No  1201/89 of 3 May 1989 laying down rules implementing the system of aid for cotton  (3), as last  amended by Regulation (EC) No 2064/95  (4); whereas in cases where the world market price cannot be  thus determined it is to be based on the last price determined;
Whereas pursuant to Article 4 of Regulation (EC) No 1554/95 the world market price for ginned  cotton is determined for a product meeting certain characteristics and by using the most favourable  offers and quotations of those considered representative of the real market trend; whereas for this  purpose an average is to be established of the offers and quotations on one or more European  exchanges for deliveries cif to north European ports of cotton from the various supplier countries  considered most representative as regards international trade; whereas these rules for  determination of the world market price for ginned cotton provide for adjustment to reflect  differences in product quality and the nature of offers 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 market price for unginned cotton specified  hereunder,