THE CUBA REVIEW 



31 



THE SUGAR INDUSTRY 



plus of 117,712 tons when coinparcd with last 

 year, while our stoc^ks, which stood at 119,000 

 tons on January 1, were now 163,150 tons. 

 These figures, however, included a large 

 quantity of low brown cane sugar, which was 

 largely in the hands of si)cculators, and which 

 had to be held for some months before any 

 profit accrued. Later in the year this sugar 

 rose by leaps and bounds, and in the absence 

 of other kinds was readily taken for grocery, 

 and indeed every and any purpose that it 

 could possibly be put to. Up to June 30, the 

 home consumption amounted to 724,303 tons, 

 a decline of 112,075 tons when compared with 

 -January-June, 1915 — an important result, due 

 not to any question of high prices, but entirely 

 to the regulations attaching to the control. 



July. — -In the month of July the Royal 

 Commission advanced the price of white Java 

 for fair average quahty to 41s l^d.,and Maur- 

 tius white crystals to 40s 73^d., and raw 

 crystals, basis 92° net analysis, to 36s 3d, but 

 left other sugars unchanged. Towards the 

 middle of the month the purchase of 170,000 

 tons of new crop Mauritius crystals by the 

 Royal Commission was announced for later 

 delivery, and it subsequently transpired that 

 the whole of this sugar was destined for France. 

 British i-efiners and dealers were now being 

 well supplied with sugar owing to the arrival 

 of some of the Java cargoes contracted for, 

 while prospective wants were provided 

 against by considerable purchases of Cuban 

 raw, .^.merican granulated and white Java. 

 Some relief to the large stock of low brown 

 cane was experienced at this time by the re- 

 shipment of a fair quantity to France. Little 

 change in value in foreign markets occurred 

 during the month, notwithstanding the occur- 

 rence of a severe explosion in New York by 

 which 40,000 tons of sugar were reported to 

 have been destroyed. 



In August however, the American markets 

 became distinctly easier for a time, but Java 

 sugar on the contrary appreciated in value 

 though not to any marked extent, the covu-se 

 of these markets apparently contirumg to be 

 mostly affected by the amount of support re- 

 ceived from the United Kingdom, and not 

 from any happenings to either the important 

 Cuban or Java crops, the former of which 

 broke all previous records. The production 



of the island anioiniti'd ('\ctituall\- to ;!,0()7,- 

 915 tons with prospects of a furtlicr licavv in- 

 crease in the succeeding season. 



lousiness in the month of September was 

 somewhat restricted owing to a temporary 

 shortage of the better kinds of grocery sugar, 

 but considerable attention was directed to 

 low brown cane, which was now being offered 

 at relatively cheaper rates, and which offered 

 opportunities for speculation. 



Early in Oclober, however, the Royal C!om- 

 mission decided that future licenses for sugars 

 of the above class would only l)e granted on 

 condition that they were sold for brewing pur- 

 poses. Considerable activity occurred during 

 the month under review, the value of Cuban 

 raw for prompt shipment advancing 3s per 

 cwt.; but new crop, of which accounts were 

 very favorable, remained quiet. Dealings in 

 refining kinds from other parts of the world 

 had been rendered almost imjjossible owing to 

 lack of steamers, l)ut 3,000 tons of grainy 

 Peruvian were about then reported to have 

 been i)urchased. 



A few days later, in November, 2,000 tons of 

 Brazilian sugar were also sold for the Ciyde 

 and other outports; but as regards stocks actu- 

 ally available, they had now been reduced to 

 a lower figure than for two years ]3ast at this 

 time, and consequently offerings by the Com- 

 mission were small. The imminent commence- 

 ment of the new Cuban crop had its effect on 

 the American markets, and compared with 

 prices a month back a fall of 3s per cwt. 

 was recorded ior new crop raw sugar. 



The last month of the year opened quietly, 

 but considerable purchases of new Cuban 

 sugar were soon made for the L'nited Kingdom 

 at steady prices, in addition to an important 

 weight of Demerara for refining purposes. 

 Towards the close large arrivals of raw and re- 

 fined cane sugar took place, and the distribu- 

 tion were on a larger scaie, but the difficulties 

 in obtaining delivery were in no way im- 

 proved, and many retailers were bare of 

 stock of any kind at Christmas time. The 

 imports of raw and refined to the United 

 Kingdom for the year arrounted to 1,541,254 

 tons, an increase of 36,212 tons compared with 

 1915, while on the contrary the home con- 

 smnption durinp the first 11 months of 1916 

 showed the important reduction of 250,284 

 tons. — The Produce Markets' Review. 



