31987R2636

No L 248/46 Official Journal of the European Communities 1 . 9 . 87

COMMISSION REGULATION (EEC) No 2636/87 of 31 August 1987 fixing the aid for cotton

THE COMMISSION OF THE EUROPEAN COMMUNITIES, be established on the basis of the most recent price deter­ mined : Having regard to the Treaty establishing the European Economic Community, Whereas the world market price for unginned cotton is Having regard to the Act of Accession of Spain and equal to the sum of the values for ginned cotton and Portugal, cotton seed defined in Article 1 of Commission Regula­ tion (EEC) No 2183/81 of 30 July 1981 laying down rules implementing the system of aid for cotton (*), as last Having regard to the Act of Accession of Greece, and in amended by Regulation (EEC) No 261 8/87 (*), minus the particular paragraphs 3 and 10 of Protocol 4 on cotton cost of ginning ; annexed thereto, as amended by Protocol 14 annexed to the Act of Accession of Spain and of Portugal,

Whereas the above values are established on the basis of Having regard to Council Regulation (EEC) No 2169/81 of 27 July 1981 laying down the general rules fpr the the prices determined in accordance with Articles 2 and 3 system of aid for cotton ('), as last amended by Regulation of Commission Regulation (EEC) No 2183/81 ; whereas (EEC) No 2276/87 (2), and in particular Article 5 ( 1 ) the world market price is determined on the basis of the thereof, most favourable offers and quotations recorded, excluding 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 the aid is equal to the difference between these Whereas, under Article 4 (4) of Regulation (EEC) No two prices ; 2169/81 , if there are no suitable offers or quotations for determining the world market price for cotton seed, that Whereas the guide price for the 1987/88 marketing year price shall be established on the basis of the most was fixed by Council Regulation (EEC) No 1966/87 (3) ; favourable offers and quotations for cotton seed recorded on the Community market or, if those offers and quota­ Whereas, under the system of maximum guaranteed tions cannot be established on the basis of the value of quantities, the amount of the aid is subject to the reduc­ the products obtained from processing the seed in the tion provided for in Commission Regulation (EEC) No Community, less the processing cost ; whereas this value 2619/87 (4) as regards cotton seed ; is determined in accordance with Article 4 of Regulation (EEC) No 2183/81 ; Whereas the world market price for unginned cotton is determined periodically on the basis of the world market prices recorded for ginned cotton and cotton seed, taking Whereas, if the subsidy system is to operate normally, into account the estimated yield of the Community subsidies should be calculated on the following basis : harvest in cotton seed and in ginned cotton and also the net cost of ginning ; — in the case of currencies which are maintained in rela­ Whereas the world market price for ginned cotton and tion to each other at any given moment within a band cotton seed is determined in accordance with Article 4 of of 2,25 % , a rate of exchange based on their central Regulation (EEC) No 2169/81 ; rate, multiplied by the corrective factor provided for in the last paragraph of Article 3 ( 1 ) of Council Regula­ Whereas, if the world market price for unginned cotton tion (EEC) No 1676/85 0, as last amended by Regula­ cannot be determined as described above, this price shall tion (EEC) No 1636/87 (8),

(') OJ No L 211 , 31 . 7. 1,981 , p. 2. 0 OJ No L 211 , 31 . 7. 1981 , p. 35. (2) OJ No L 209, 31 . 7. 1987, p. 5. (6) See page 17 of this Official Journal. (3) OJ No L 184, 3 . 7. 1987, p. 18 . 0 OJ No L 164, 24. 6. 1985, p. 1 . (4) See page 18 of this Official Journal . 8 OJ No L 153, 13. 6. 1987, p. 1 .

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1 . 9 . 87 Official Journal of the European Communities No L 248 /47

— 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 ; The aid for unginned cotton provided for in Article 5 of Whereas the aid must be fixed once a month, and in such Regulation (EEC) No 2169/81 shall be 51,944 ECU per a way that it can be applied from the first day of the 100 kilograms. month following the date of fixing ; whereas it may be altered between fixings ; Article 2 Whereas it follows from applying these provisions to the offers and quotations known to the Commission that the This Regulation shall enter into force on 1 September aid for cotton should be as set out in this Regulation, 1987.

This Regulation shall be binding in its entirety and directly applicable in all Member States . ..

Done at Brussels, 31 August 1987.

For the Commission Frans ANDRIESSEN Vice-President