31991R2601

31 . 8 . 91 / Official Journal of the European Communities No L 243/37

COMMISSION REGULATION (EEC) No 2601 /91 of 30 August 1991 fixing the aid for cotton

THE COMMISSION OF THE EUROPEAN COMMUNITIES, Whereas, if the world market price for unginned cotton cannot be determined as described above, this price shall Having regard to the Treaty establishing the European be established on the basis of the most recent price deter­ mined ; Economic Community,

Having regard to the Act of Accession of Spain and Whereas the world market price for unginned cotton is Portugal, equal to the sum of the values for ginned cotton and cotton seed defined in Article 1 of Commission Regula­ Having regard to the Act of Accession of Greece, and in tion (EEC) No 1201 /89 of 3 May 1989 laying down rules particular paragraphs 3 and 10 of Protocol 4 on cotton implementing the system of aid for cotton (6), as last annexed thereto, as amended by Protocol 14 annexed to amended by Regulation (EEC) No 2432/90 Q, minus the the Act of Accession of Spain and of Portugal, and Regu­ cost of ginning ; lation (EEC) No 4006/87 ('),

Whereas the above values are established on the basis of Having regard to Council Regulation (EEC) No 2169/81 the prices determined in accordance with Articles 2 and 3 of 27 July 1981 laying down the general rules for the of Commission Regulation (EEC) No 1201 /89 ; whereas system of aid for cotton (2), as last amended by Regulation the world market price is determined on the basis of the (EEC) No 791 /89 (3), and in particular Article 5 ( 1 ) thereof, most favourable offers and quotations recorded, excluding offers and quotations which cannot be regarded as repre­ Having regard to the opinion of the Monetary Committee, sentative of the real market trend ;

Whereas, pursuant to Article 5 of Regulation (EEC) No Whereas the necessary adjustments must be made in cases 2169/81 , aid must be granted for unginned cotton harvested in the Community when the world market where the offers and quotations recorded do not satisfy the requirements indicated above ; price for unginned cotton is below the guide price ;

Whereas the aid is equal to the difference between these Whereas, pursuant to 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 cotton has been fixed by price shall be established on the basis of the most Council Regulation (EEC) No 1730/91 (4) for the 1991 /92 favourable offers and quotations for cotton seed recorded marketing year ; on the Community market or, if those offers and quota­ tions cannot be established on the basis of the value of the products obtained from processing the seed in the Whereas the abatement of the subsidy which arises, where Community, less the processing cost ; whereas this value appropriate, from the system of maximum guaranteed is determined in accordance with Article 4 of Regulation quantities for the 1991 /92 marketing year, has been fixed (EEC) No 1201 /89 ; by Commission Regulation (EEC) No 2606/91 (^ ;

Whereas the world market price for unginned cotton is Whereas, if the subsidy system is to operate normally, determined periodically on the basis of the world market subsidies should be calculated on the following basis : prices recorded for ginned cotton and cotton seed, taking into account the estimated yield of the Community harvest in cotton seed and in ginned cotton and also the — in the case of currencies which are maintained in rela­ net cost of ginning ; 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 Whereas the world market price for ginned cotton and cotton seed is determined in accordance with Article 4 of the last paragraph of Article 3 (1 ) of Council Regula­ Regulation (EEC) No 2169/81 ; tion (EEC) No 1676/85 (8), as last amended by Regula­ tion (EEC) No 2205/90 (9), O OJ No L 377, 31 . 12. 1987, p. 49. 0 OJ No L 211 , 31 . 7. 1981 , p. 2. (*) OJ No L 123, 4. 5. 1989, p. 23. (3) OJ No L 85, 30. 3 . 1989, p. 7. O OJ No L 228, 22. 8 . 1990, p. 23. (<) OJ No L 163, 26. 6. 1991 , p. 1 . (8) OJ No L 164, 24. 6. 1985, p. 1 . Is) See page 53 of this Official Journal. (9) OJ No L 201 , 31 . 7. 1990 , p. 9 .

No L 243/38 Official Journal of the European Communities 31 . 8 . 91

HAS ADOPTED THIS REGULATION : — for the other currencies, an exchange rate based on an average of the ecu rates published in the Official Journal of the European Communities, C series, over Article 1 a period to be determined, multiplied by the coeffi­ cient referred to in the preceding indent ; 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 ECU 62,094 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 1991 . aid for cotton should be as set out in this Regulation,

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

Done at Brussels, 30 August 1991 .

For the Commission Ray MAC SHARRY Member of the Commission