31992R2207

1 . 8 . 92 Official Journal of the European Communities No L 218/39

COMMISSION REGULATION (EEC) No 2207/92 of 31 July 1992 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 be established on the basis of the most recent price deter­ Having regard to the Treaty establishing the European 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 ^, as last annexed thereto, as amended by Protocol 14 annexed to amended by Regulation (EEC) No 2756/91 (*), 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 system of aid for cotton (2), as last amended by Regulation of Commission Regulation (EEC) No 1201 /89 ; whereas (EEC) No 2053/92 (3), 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 ; Whereas, pursuant to Article 5 of Regulation (EEC) No 2169/81 , aid must be granted for unginned cotton harvested in the Community when the world market Whereas the necessary adjustments must be made in cases price for unginned cotton is below the guide price ; where the offers and quotations recorded do not satisfy the requirements indicated above ; Whereas the aid is equal to the difference between these two prices ; Whereas, pursuant to Article 4 (4) of Regulation (EEC) No Whereas the guide price for cotton has been fixed by 2169/81 , if there are no suitable offers or quotations for Council Regulation (EEC) No 2055/92 for the 1992/93 determining the world market price for cotton seed, that marketing year (4); price shall be established on the basis of the most favourable offers and quotations for cotton seed recorded on the Community market or, if those offers and quota­ Whereas the abatement of the subsidy which arises, where tions cannot be established on the basis of the value of appropriate, from the system of maximum guaranteed the products obtained from processing the seed in the quantities for the 1992/ 1993 marketing year, has not, to Community, less the processing cost ; whereas this value date, been fixed ; whereas the amount of the subsidy for is determined in accordance with Article 4 of Regulation the 1992/1993 marketing year has been provisionally (EEC) No 1201 /89 ; calculated on the basis of an abatement of ECU 15,419 per 100 kilograms ; Whereas, if the subsidy system is to operate normally, Whereas the world market price for unginned cotton is subsidies should be calculated on the following basis : determined periodically on the basis of the world market prices recorded for ginned cotton and cotton seed, taking into account the estimated yield of the Community — in the case of currencies which are maintained in rela­ harvest in cotton seed and in ginned cotton and also the tion to each other at any given moment within a band net cost of ginning ; 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 the last paragraph of Article 3 (1 ) of Council Regula­ cotton seed is determined in accordance with Article 4 of tion (EEC) No 1676/85 Q, as last amended by Regula­ Regulation (EEC) No 2169/81 ; tion (EEC) No 2205/90 (8),

(') OJ No L 377, 31 . 12. 1987, p. 49. 0 OJ No L 123, 4. 5. 1989, p. 23 . (2) OJ No L 211 , 31 . 7. 1981 , p. 2. O OJ No L 264, 20. 9 . 1991 , p. 21 . 0 OJ No L 215, 30 . 7. 1992, p. 12. f) OJ No L 164, 24. 6. 1985, p. 1 . h OJ No L 215, 30. 7. 1992, p. 14. (*) OJ No L 201 , 31 . 7. 1990, p. 9 .

No L 218/40 Official Journal of the European Communities 1 . 8 . 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 cient referred to in the preceding indent ; 1 . The aid for unginned cotton provided for in Article 5 of Regulation (EEC) No 2169/81 shall be ECU 72,666 per 100 kilograms. 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 2. However, the amount of the aid will be confirmed or month following the date of fixing ; whereas it may be replaced with effect from 1 August 1992, which appear to altered between fixings ; 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 August 1992.

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

Done at Brussels, 31 July 1992.

For the Commission Ray MAC SHARRY Member of the Commission