28 THE CUBA REVIEW. 



SUGAR REVIEW. 



Specially written for The CUBA REVIEW by Willett & Gray, of JNew York. 



Our last sugar review for this magazine was dated December 9th, 1908. Cuba 

 Centrifugals were then 2 7-160. c & f equal to 3.80c. landed for January shipment. 

 The spot quotation was then 3.86c. per lb. for 96 test and is now 3.73c., having 

 been 3.67c. at lowest point during the time covered. 



January shipments are now 2^c. c & f 96 test, having been 2 5-i6c. at the 

 lowest. 



The upward turn last year came February 13th from the same low point of 

 2 5-i6c c & f, and has started this year Jaiuuary 7th from same low level, which 

 iji 47c. per 100 lbs. below the parity of Hamburg. 



Last season the low level was 40c'. per 100 lbs. below Hamburg parity. At this 

 v»riting 81 Centrals are working in Cuba, against 70 last year at corresponding time, 

 and the crop as estimated by Messrs. Guma-Mejer is i,397,SOo tons, against crop of 

 961,958 tons last year. 



The continued steadiness of the European markets is much in favor of present 

 value, proving the lowest of the season. 



Our refiners start the new year with smaller stock than last new year and must 

 of necessity draw most of their supplies for months to come from Cuba. 



It is always somewhat of a mystery why, with the U. S. market entirely at 

 their diisposal, the Cuban planters should continue to sell so far below the Euro- 

 pean parity of values and still have the courage to ask the United States for fur- 

 ther concessions of duties in their favor. Sooner or later some better method of 

 selling the Cuba crop should give the planters the full benefit of present reciprocity. 

 They are not very likely to have any larger concessions under the new Tariff than 

 the present 20 per cent, gives. No change in the reciprocity treaty is likely to be 

 made, so long as Cuba voluntarily abandons the benefit. The entire 34c. per 100 

 lbs. is lost and an %c. more without having any competition for the United States' 

 market within YzC. per lb. of Cuba present selling basis. 



These are facts no doubt considered bj^ the Ways and Melans Committee in 

 dealing with Cuba sugar duties. 



The consumption of the United States should show large increase over last 

 year, easily absorbing all surplus crop of Cuba at full prices if asked. This is 

 plain, in view of the large quantity of full d'Uty sugars still required to meet the 

 wants of this country. 



Herewith we give our annual statement of the sugar trade of the U. S. for 

 the calendar year 1908, a study of which will confirm our persistent views that 

 Cuba ought to get more rnone)' for her crop this year, even without any improve- 

 ment in values in the European markets. 



The figures show the consumption of sugar 3,185.789 tons, an increase of 

 191,810 tons from 1907, or 6.406 per cent, increase, against an increase of 129,966 

 tons or 4.538 per cent, increase for the preceding year, against 4.551 per cent, 

 average yearly increase for 27 years. 



The total consumption of sugar upon which full duty was paid was 684,625 

 tons, and of sugar on which a concession of duty was allowed was 1.600,166 tons. 

 Consumption of domestic production 900,998 tons. 



Cuba contributed 916,742 tons; Hawaiian Islands, 453,250 tons; Porto Rico, 

 185,085 tons; Philippine Islands, 45,089 tons; domestic cane, 390,888 tons; domestic 

 beet. 493,200 tons; maple sugar, 11,000 tons; and inolasses sugar, 5,910 tons. 



The total consumption of refined sugar in 1908 was 3,022,153 tons, of which 

 the American Sugar Refining Company manufactured 1,364,286 tons, or 45.14 per 

 cent., against 49.27 per cent, "in 1907, and 51.03 in 1906. 



The independent refiners manufactured 1,147,712 tons, or 37.98 per cent., against 

 37.44 per cent, in 1907, and 37.38 per cent, in 1906. 



Domestic beet sugar factories contributed 492,969 tons, or 16.31 per cent., against 

 13.19 in 1907, and 10.87 in 1906. 



The Hawaiian cane factories contributed 15,442 tons, or .51 per cent., against 

 .06 per cent, in 1907, and .61 per cent, in 1906. 



Foreign refined supplied 1,744 tons, or .06 per cent., against .04 per cent, in 

 1907, and .11 per cent, in 1906. 



The average difference between raw and refined in 1908 was .884c. per pound, 

 against .893c. per pound in 1907, and .829c. per pound in 1906. 



New York, January 8, 1909. 



