26 THECUBAREVIEW 



HONGKONG SUGAR FOR EUROPE 



The sugar trade in Hongkong during the season of 1917 was not much larger than that of 

 1916, which in turn was far below normal in volume, but on the whole it was a fairly successful 

 year for the refineries. Falling prices made it a hard year for Hongkong middlemen and local 

 buyers. 



The inauguration of a considerable export trade to Europe reported last year marked the 

 beginning of a trade which has continued steadily and which promises to continue during the 

 course of the war at lea?t. The trade is limited only by the amount of shipping available to 

 serve it. Exports to the United States are not large, being valued in 1917 at $51,497 as com- 

 pared with $47,298 in 1916. 



The total imports of raw sugar into the port in 1917 amounted to 317,674 tons as com- 

 pared with 310,196 tons in 1916, these figures being official. The exports of the port for the 

 last six months of the year, according to official figures, amounted to a total of 148,502 tons, 

 of which 139,637 tons were of refined sugar, 2,548 tons raw sugar, and 6,317 tons sugar candy, a 

 form of sugar quite popular among the Chinese for certain purposes. The exports therefore are 

 at the rate of about 297,000 tons per year. Consumption in Hongkong is about 20,000 short 

 tons a year under present conditions. 



Sources of Imports of Raw Sugar — Formosan Sugar. 



No official figures are available showing the origin of the imports, but data from commercia 

 sources shows the last country of shipment to Hongkong to have been substantially as follows 



Whence shipped 1916 1917 



Tons Tons 



Java 220,000 196,000 



Philippine Islands 79,260 80,000 



Lower Asiatic coast 6,740 11,000 



Formosa 4,100 30,000 



Total 310,100 317,000 



As was indicated in a report from this consulate general the large crop in Formosa 

 and trade conditions in Japan made dealing with China very uncertain. One result 

 of such conditions as well as a result of high freights was a greatly increased use of 

 Formosan sugar in the refineries here. On the other hand, continued political unrest in 

 China reduced the import of sugar into that country very materially and interi"ered 

 with the business of the refineries greatly and the year would have proved a very unsatisfactory 

 one were it not for the outlet in India and Europe. One of the large refineries has been s.hipping 

 about 150,000 piculs or 10,000 short tons of refined sugar to India and Eiu-ope monthly. 



Limited Shipping Facilities Affects Prices. 



While the aifficulty of shipping sugar from Java and the PhiUppines to Europe and the' 

 United States has resulted in a pressure of the Java and Philippine crops on the Hongkong 

 market, the absence of shipping, particularly for distributing the refined product, and the 

 unrest in China have prevented any expansion of business, and it seems likely tliat the decrease 

 in available shipping will render the ciu-rent season's business still smaller in volume. Prices, 

 as a result of these conditions, showed a tendency to sag throughout the year. Java soft 

 white was quoted in the closing days of December, 1916, at $11.90 local ciu-rency per picul or at 

 exchange then obtaining 5 cents gold per pound. The same grade of sugar was quoted in 

 December, 1917, at $8.45 local cm-rency per picul or at current exchange 4.47 cents gold per 

 pound. Other grades were priced in proportion. The constantly faUing market during the 

 year, the constant reduction in available shipping, and continued uncertainty in China made- 

 business difficult at all times and the result on the whole was far better than might have been, 

 anticipated. — Consul General George E. Anderson, Hongkong, British China. 



