31989R2649

1 . 9 . 89 Official Journal of the European Communities No L 255/51

COMMISSION REGULATION (EEC) No 2649/89 of 31 August 1989 fixing the aid for cotton

THE COMMISSION OF THE EUROPEAN COMMUNITIES, Whereas the world market price for unginned cotton is equal to the sum of the values for ginned cotton and Having regard to the Treaty establishing the European cotton seed defined in "Article 1 of Commission Regula­ Economic Community, tion (EEC) No 1201 /89 of 3 May 1989 laying down rules implementing the system of aid for cotton (% minus the Having regard to the Act of Accession of Spain and cost of ginning ; Portugal, Whereas the above values are established on the basis of Having regard to the Act of Accession of Greece, and in the prices determined in accordance with Articles 2 and 3 particular paragraphs 3 and 10 of Protocol 4 on cotton of Commission Regulation (EEC) No 1201 /89 ; whereas annexed thereto, as amended by Protocol 14 annexed to the world market price is determined on the basis of the the Act of Accession of Spain and of Portugal, and Regu­ most favourable offers and^ quotations recorded, excluding lation (CEE) No 4006/87 ('), offers and quotations which cannot be regarded as repre­ sentative of the real market trend ; Having regard to Council Regulation (EEC) No 2169/81 of 27 July 1981 laying down the general rules for the system of aid for cotton (2), as last amended by Regulation Whereas the necessary adjustments must be made in cases (EEC) No 791 /89 (3), and in particular Article 5 (1 ) thereof, where the offers and quotations recorded do not satisfy the requirements indicated above ; Having regard to the opinion of the Monetary Committee, Whereas, under Article 4 (4) of Regulation (EEC) No Whereas, under Article 5 of Regulation (EEC) No 2169/81 , if there are no suitable offers or quotations for 2169/81 , aid must be granted for unginned cotton determining the world market price for cotton seed, that harvested in the Community when the world market price shall be established on the basis pf the most price for unginned cotton is below the guide price ; favourable offers and quotations for cotton seed recorded on the Community market or, if those offers and quota­ Whereas the aid is equal to the difference between these tions cannot be established on the basis of the value of two prices ; the products obtained from processing the seed in the Community, less the processing cost ; whereas this value Whereas the guide price for the 1989/90 marketing year is determined in accordance with Article 4 of Regulation was fixed by Council Regulation (EEC) No 1241 /89 (4) ; (EEC) No 1201 /89 ;

I Whereas, under the system of maximum guaranteed Whereas, if the subsidy system is to operate normally, quantities, the amount of the aid is subject to the reduc­ subsidies should be calculated on the following basis : tion provided for in Commission Regulation (EEC) No 2624/89 (*) as regards cotton seed ; — in the case of currencies which are maintained in rela­ Whereas the world market price for unginned cotton is tion to each other at any given moment within a band determined periodically on the basis of the world market of 2,25 % , a rate of exchange based on their central prices recorded for ginned cotton and cotton seed, taking rate, multiplied by the corrective factor provided for in into account the estimated yield of the Community the last paragraph of Article 3 (1 ) of Council Regula­ harvest in cotton seed and in ginned cotton and also the tion (EEC) No 1676/85 as last amended by Regula­ net cost of ginning ; tion (EEC) No 1 636/87 (g), — for other currencies, an exchange rate based on the Whereas the world market price for ginned cotton and arithmetic mean of the spot market rates of each of cotton seed is determined in accordance with Article 4 of these currencies recorded over a given period in rela­ Regulation (EEC) No 2169/81 ; tion to the Community currencies referred to in the previous indent, and the aforesaid coefficient ; Whereas, if the world market price for unginned cotton cannot be determined as described above, this price shall Whereas the aid must be fixed once a month, and in such be established on the basis of the most recent price deter­ a way that it can be applied from the first day of the mined ; month following the date of fixing ; whereas it may be altered between fixings ; (') OJ No L 377, 31 . 12. 1987, p. 48 . O OJ No L 211 , 31 . 7. 1981 , p. 2. (3) OJ No L 85, 30. 3. 1989, p. 7. 0 OJ No L 123, 4. 5. 1989, p. 23. (4) OJ No L 129, 11 . 5. 1989, p. 1 . 0 OJ No L 164, 24. 6. 1985, p. 1 . (Ó OJ No L 254, 31 . 8 . 1989, p. 8. (") OJ No L 153, 13 . 6. 1987, p. 1 .

No L 255/52 Official Journal of the European Communities 1 . 9 . 89

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,

HAS ADOPTED THIS REGULATION :

Article1¶

The aid for unginned cotton provided for in Article 5 of Regulation (EEC) No 2169/81 shall be 40,468 ECU per This Regulation shall enter into force on 1 September 100 kilograms. 1989.

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

Done at Brussels, 31 August 1989. For the Commission Ray MAC SHARRY

Member of the Commission