T H E C U B A R E V I E W 33- 



SUGAR REVIEW 



Speciallv xvrxUm for The Cuba Review by WilUtt & Gray, New York, N. Y. 



OxiT last report was dated November 12tli, 1917, at which time the market for raw sugars 

 was maintained at SJ^^c. c. & f. (O.OOe. duty paid basis) by the International Fugar Committee 

 and during the period under review moderat(! sales have been made at this figm'e, or its equiva- 

 lent, of Cubas, and full duty sugars, including Perus, Venezuelas, Urazils, Demeraras and 

 Surinams, also Philippine free sugars, all to the International Committee. I atcr Cuba sales 

 were reported at 5.70 c. c. & f. or G.72c. duty paid, the present (}Uotation for old crop. Grinding 

 has started in Porto Rico and on November 2;kl, a sale w-as reported of ;^,500 tons for December 

 shipment followed by a further 2,600 tons for December, all at price to be determined later. 



The chief feature of interest, however, has been the culmination of the conferences between 

 Mr. Rolph of the Sugar Administration and the Cuban Commissioners, resulting in the fixing 

 of a price of 4.90c. c. & f. New "i'ork, based on a 30c. freight rate and which reflects an equiva- 

 lent of about 4.r)0c. f. o. b. Cuba. Of course, the actual price is still somewhat in doul)t as the 

 freight situation is still under discussion, but a number of conferences have been held in this 

 connection, and an early settlement of the matter is looked for; in fact, we understand that the 

 Committee has already agreed ujwn the rates from the north and south shores of Cuba, but the 

 figures are not yet made public. Meanwhile the first sales of new crop Cubas were reported on 

 December 10th, consisting of 20,C00 bags for December shipment at 4.90c. c. & f., equal to 5."92c. 

 delivered New York and 15,000 bags December at same basis for New Orleans. Grinding of 

 the new crop started on November 19th, this being the earliest start on rccoid for a Cuba crop 

 and at this date 28 centrals are already at work. It is interesting to note the dates of beginning 

 of Cuba harvesting in previous campaigns as given below: 



Grinding Commenctd 



1916 Dec. 4 



1915 Dec. 1 



1914 Nov. 28 



1913 Nov. 24 



1912 Nov. 21 



1911 Dec. 5 



1910 Dec. 7 



1909 Dec. 1 



1908 Dec. 3 



1907 Dec. 12 



Despite some scarcity of labor in the Island the prospects for a good crop are excellent 

 and Mr. Himely's estimate lately received is 3,620,857 tons, provided conditions are normal. 

 Our own conservative estimate, however, remains unchanged at 3,200,000 tons. 



A very important matter, however, is the question of sufficient tonnage to carry this 

 expected record-breaking crop. During the height of crop making Cuba produces close to 700,- 

 000 tons per month, and as warehouse facilities are limited, some disposition will have to be 

 made on this subject, not forgetting the important question of fnancing the carrying of sugars 

 for several months, which may be compulsory owing to lack of sufficient tonnage. 



Our information is that Cuba can warehouse in public stores from 1,1C0,CC0 tons to 1 ,200,- 

 000 tons sugar, but which figure is full capacity and may be partly taken by other commodities 

 The private warehouses connected with the factories we estimate can store 2C0,CC0 tons. If the. 

 Cuban production was carried on for 12 months, the above capacity might be ample, but Cuba 

 makes the greater part of the crop in a few months. For instance, the crop just ended produced 

 404,278 tons at the end of January, 1917, while at the end of May, 1917, there was produced 

 2.558,351 tons. The above is only a part of the many details to be settled, as the question of 

 distributing the sugar on arrival to refiners is also a very important matter. 



There is little of interest as regards the Louisiana crop situation. It was reported from 



