31992R1111

1 . 5. 92 No L 117/71 Official Journal of the European Communities

COMMISSION REGULATION (EEC) No 1111/92 of 30 April 1992 fixing the aid for cotton

THE COMMISSION OF THE EUROPEAN COMMUNITIES, Whereas the world market price for ginned cotton and cotton seed is determined in accordance with Article 4 of Having regard to the Treaty establishing the European Regulation (EEC) No 2169/81 ; Economic Community, Whereas, if the world market price for unginned cotton Having regard to the Act of Accession of Spain and cannot be determined as described above, this price shall Portugal, be established on the basis of the most recent price deter­ mined ; Having regard to the Act of Accession of Greece, and in particular paragraphs 3 and 10 of Protocol 4 on cotton Whereas the world market price for unginned cotton is annexed thereto, as amended by Protocol 14 annexed to equal to the sum of the values for ginned cotton and the Act of Accession of Spain and of Portugal, and Regu­ cotton seed defined in Article 1 of Commission Regula­ lation (EEC) No 4006/87 ('), tion (EEC) No 1201 /89 of 3 May 1989 laying down rules implementing the system of aid for cotton (4), as last Having regard to Council Regulation (EEC) No 2169/81 amended by Regulation (EEC) No 2756/91 (*), minus the of 27 July 1981 laying down the general rules for the cost of ginning ; system of aid for cotton (2), as last amended by Regulation (EEC) No 791 /89 (3), and in particular Article 5 (1 ) thereof, Whereas the above values are established on the basis of the prices determined in accordance with Articles 2 and 3 Having regard to the opinion of the Monetary Committee, of Commission Regulation (EEC) No 1201 /89 ; whereas the world market price is determined on the basis of the Whereas, pursuant to Article 5 of Regulation (EEC) No most favourable offers and quotations recorded, excluding 2169/81 , aid must be granted for unginned cotton offers and quotations which cannot be regarded as repre­ harvested in the Community when the world market sentative of the real market trend ; price for unginned cotton is below the guide price ;

Whereas the necessary adjustments must be made in cases Whereas the aid is equal to the difference between these where the offers and quotations recorded do not satisfy two prices ; the requirements indicated above ; Whereas in the absence of the guide price for cotton applicable during the 1992/ 1993 marketing year, the aid Whereas, pursuant to Article 4 (4) of Regulation (EEC) No amount in the case of advance fixing for this marketing 2169/81 , if there are no suitable offers or quotations for year has only been calculated provisionally on the basis of determining the world market price for cotton seed, that the proposals of the Commission to the Council of the price shall be established on the basis of the most prices valid for the 1992/93 marketing year ; whereas that favourable offers and quotations for cotton seed recorded amount must be applied provisionally only and will have on the Community market or, if those offers and quota­ tions cannot be established on the basis of the value of to be confirmed or replaced when the price for the 1992/93 marketing year is known ; the products obtained from processing the seed in the Community, less the processing cost ; whereas this value is determined in accordance with Article 4 of Regulation Whereas the abatement of the subsidy which arises, where (EEC) No 1201 /89 ; appropriate, from the system of maximum guaranteed quantities for the 1992/ 1993 marketing year, has not, to date, been fixed ; whereas the amount of the subsidy for Whereas, if the subsidy system is to operate normally, the 1992/ 1993 marketing year has been provisionally subsidies should be calculated on the following basis : calculated on the basis of an abatement of ECU 20,558 per 100 kilograms ; — in the case of currencies which are maintained in rela­ tion to each other at any given moment within a band Whereas the world market price for unginned cotton is of 2,25 % , a rate of exchange based on their central determined periodically on the basis of the world market rate, multiplied by the corrective factor provided for in prices recorded for ginned cotton and cotton seed, taking the last paragraph of Article 3 (1 ) of Council Regula­ into account the estimated yield of the Community tion (EEC) No 1676/85 (6), as last amended by Regula­ harvest in cotton seed and in ginned cotton and also the tion (EEC) No 2205/90 0, net cost of ginning ;

(4) OJ No L 123, 4. 5. 1989, p. 23. (') OJ No L 377, 31 . 12. 1987, p. 49. 0 OJ No L 264, 20. 9. 1991 , p. 21 . (2) OJ No L 211 , 31 . 7. 1981 , p. 2. f) OJ No L 164, 24. 6. 1985, p. 1 . 0 OJ No L 85, 30. 3. 1989, p. 7. 0 OJ No L 201 , 31 . 7. 1990, p. 9.

No L 117/72 Official Journal of the European Communities 1 . 5. 92

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 1 . The aid for unginned cotton provided for in Article cient referred to in the preceding indent ; 5 of Regulation (EEC) No 2169/81 shall be ECU 62,218 per 100 kilograms. Whereas the aid must be fixed once a month, and in such 2. However, the amount of the aid will be confirmed or a way that it can be applied from the first day of the replaced with effect from 1 May 1992 to take account of month following the date of fixing ; whereas it may be the guide price of cotton adopted in respect of the 1992/ altered between fixings ; 1993 marketing year and which appear to have been offered in the largest quantities.

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, This Regulation shall enter into force on 1 May 1992.

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

Done at Brussels, 30 April 1992.

For the Commission Ray MAC SHARRY Member of the Commission