31990R3868

No L 367/89 29 . 12 . 90 Official Journal of the European Communities

COMMISSION REGULATION (EEC) No 3868/90 of 28 December 1990 fixing the aid for cotton

THE COMMISSION OF THE EUROPEAN COMMUNITIES, into account the estimated yield of the Community harvest in cotton seed and in ginned cotton and also the net cost of ginning ; Having regard to the Treaty establishing the European Economic Community, Whereas the world market price for ginned cotton and cotton seed is determined in accordance with Article 4 of Having Having regard to the Act of Accession of Greece, Regulation (EEC) No 2169/81 ;

and in particular paragraphs 3 and 10 of Protocol 4 on cotton annexed thereto, as amended by Protocol 14 Whereas, if the world market price for unginned cotton annexed to the Act of Accession of Spain and of Portugal, cannot be determined as described above, this price shall and Commission Regulation (EEC) No 4006/87 ('), be established on the basis of the most recent price deter­ mined ; 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 world market price for unginned cotton is (EEC) No 791 /89 (3), and in particular Article 5 ( 1 ) thereof, equal to the sum of the values - for ginned cotton and cotton seed defined in Article 1 of Commission Regula­ tion (EEC) No 1201 /89 of 3 May 1989 laying down rules Having regard to the opinion of the Monetary Committee, implementing the system of aid for cotton 0, as last amended by Regulation (EEC) No 2432/90 (8), minus the Whereas, pursuant to Article 5 of Regulation (EEC) No cost of ginning ; 2169/81 , aid must be granted for unginned cotton harvested in the Community when the world market Whereas the above values are established on the basis of price for unginned cotton is below the guide price ; the prices determined in accordance with Articles 2 and 3 of Commission Regulation (EEC) No 1201 /89 ; whereas Whereas the aid is equal to the difference between these the world market price is determined on the basis of the two prices ; most favourable offers and quotations recorded, excluding offers and quotations which cannot be regarded as repre­ sentative of the real market trend ; Whereas the guide price for 1990/90 marketing year was fixed by Council Regulation (EEC) No 1355/90 (4)

Whereas the necessary adjustments must be made in cases Whereas the prices fixed by the Council are to be reduced where the offers and quotations recorded do not satisfy in accordance with Commission Regulation (EEC) the requirements indicated above ; No 2219/90 of 30 July 1990 establishing the guide price fixed in ecus by the Council in the cotton sector and reduced as a result of the monetary realignment of 5 Whereas, pursuant to Article 4 (4) of Regulation (EEC) No January 1990 0 ; 2169/81 , if there are no suitable offers or quotations for determining the world market price for cotton seed, that price shall be established on the basis of the most Whereas, under the system of maximum guaranteed favourable offers and quotations for cotton seed recorded quantities, the amount of the aid is subject to the reduc­ on the Community market or, if those offers and quota­ tion provided for in Commission Regulation (EEC) No tions cannot be established on the basis of the value of 251 1 /90 0 as regards cotton seed ; the products obtained from processing the seed in the Community, less the processing cost ; whereas this value Whereas the world market price for unginned cotton is is determined in accordance with Article 4 of Regulation determined periodically on the basis of the world market (EEC) No 1201 /89 ; prices recorded for ginned cotton and cotton seed, taking

(>) OJ No L 377, 31 . 12. 1987, p. 49. Whereas, if the subsidy system is to operate normally, (2) OJ No L 211 , 31 . 7. 1981 , p. 2. subsidies should be calculated on the following basis : (3) OJ No L 85, 30. 3 . 1989, p. 7. (♦) OJ No L 134, 28. 5. 1990, p. 20 . 0 OJ No L 202, 31 . 7. 1990, p. 26. 0 OJ No L 123 , 4. 5. 1989, p. 23. (<) OJ No L 237, 1 . 9 . 1990, p. 9. (8) OJ No L 228 , 22. 8 . 1990, p. 23 .

No L 367/90 Official Journal of the European Communities 29 . 12. 90

— in the case of currencies which are maintained in rela­ HAS ADOPTED THIS REGULATION : tion to each other at any given moment within a band of 2,25 % , a rate of exchange based on their central rate, multiplied by the corrective factor provided for in the last paragraph of Article 3 (1 ) of Council Regula­ tion (EEC) No 1676/85 ('), as last amended by Regula­ Article 1 tion (EEC) No 2205/90 (2), — for the other currencies, an exchange rate based on an average of the ecu rates published in the Official The aid for unginned cotton provided for in Article 5 of Journal of the European Communities, C series, over Regulation (EEC) No 2169/81 shall be 44,277 ECU per a period to be determined, multiplied by the coeffi­ 100 kilograms. cient referred to in the preceding indent ;

Whereas the aid must be fixed once a month, and in such a way that it can be applied from the first day of the 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 aid for cotton should be as set out in this Regulation, This Regulation shall enter into force on 1 January 1991 .

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

Done at Brussels, 28 December 1990 .

For the Commission Ray MAC SHARRY Member of the Commission

(') OJ No L 164, 24. 6. 1985, p. 1 . (2) OJ No L 201 , 31 . 7. 1990, p. 9 .