31992R3868

No L 390/ 106 31 . 12 . 92 Official Journal of the European Communities

COMMISSION REGULATION (EEC) No 3868 /92 of 30 December 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 2328/92 (6), minus the the Act of Accession of Spain and of Portugal, and Regu­ cost of ginning ; lation (EEC) No 4006/87 ('),

Having regard to Council Regulation (EEC) No 2169/81 Whereas the above values are established on the basis of of 27 July 1981 laying down the general rules for the the prices determined in accordance with Articles 2 and 3 system of aid for cotton (2), as last amended by Regulation of Commission Regulation (EEC) No 1201 /89 ; whereas (EEC) No 2053/92 f), 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 price for unginned cotton is below the guide price ; Whereas the necessary adjustments must be made in cases 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 from tions cannot be established on the basis of the value of the system of maximum guaranteed quantities for the the products obtained from processing the seed in the 1992/ 1993 marketing year, has been fixed and set at ECU Community, less the processing cost ; whereas this value 15,419 per 100 kg ; is determined in accordance with Article 4 of Regulation (EEC) No 1201 /89 ; Whereas the world market price for unginned cotton is determined periodically on the basis of the world market prices recorded for ginned cotton and cotton seed, taking Whereas the representative market rates defined in Article into account the estimated yield of the Community 1 of Council Regulation (EEC) No 3813/92 (7) are used to harvest in cotton seed and in ginned cotton and also the convert amounts expressed in third country currencies net cost of ginning ; and are used as the basis for determining the agricultural conversion rates of the Member States' currencies ; Whereas the world market price for ginned cotton and whereas detailed rules on the application and determina­ cotton seed is determined in accordance with Article 4 of tion of these conversions were set by Commission Regu­ Regulation (EEC) No 2169/81 ; lation (EEC) No 3819/92 (") ;

(') OJ No L 377, 31 . 12. 1987, p. 49 . 0 OJ No L 123, 4. 5. 1989, p. 23 . 0 OJ No L 211 , 31 . 7. 1981 , p. 2. (<) OJ No L 223 , 8 . 8 . 1992, p. 15 . (3) OJ No L 215, 30. 7. 1992, p. 12. 0 OJ No L 387, 31 . 12. 1992, p. 1 . (4) OJ No L 215, 30 . 7. 1992, p. 14. 8 OJ No L 387, 31 . 12. 1992.

31 . 12 . 92 Official Journal of the European Communities No L 390/ 107

Whereas the aid must be fixed once a month, and in such HAS ADOPTED THIS REGULATION : a way that it can be applied from the first day of the month following the date of fixing ; whereas it may be Article 1 altered between fixings ; The aid for unginned cotton provided for in Article 5 of Regulation (EEC) No 2169/81 shall be ECU 72,877 per 100 kilograms.

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 January 1993.

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

Done at Brussels, 30 December 1992.

For the Commission Ray MAC SHARRY Member of the Commission