THE CUBA REVIEW 35 



THE SUGAR REVIEW 



Specially written for The Cuba Review by Willelt & (iray. New York, N. Y. 



Our last review for this magazine was dated March 7, 1917. 



At that date Cuba Centrifugal sugar 96° test basis was quoted at 434c. per lb. cost and 

 freight and is now 5 l/32c. c. & f. 



During the interim the changes have been as follows : March 9th, 4 5 IGc; 10th, 43^c.; 

 r2th, 4i^c.; 13th,4 7/16C.; 14th, 43^c.; 15th, 4 5/16c.; 16th, 4Mc.; 19th, 43^c.; 21st, 4 7/16c.; 

 23d, 4 9/16c.; 24th, 4^c.; 27th, 4^0.; 29th, 47^c.; April 2d, 4 29/32c.; 3d, 4 29 '32c.; 4th 

 4 ir^/Uw,.; 5th, 5 l/32c. 



From these quotations it will \)v noted that the market has been active with frefiuen^ 

 change of prices and generally on the advance side resulting in a final improvement of about 

 54c. per lb. Free tluty Porto Rico sugar also improved from 5.14c. to 5.89c. per lb., and owing 

 to the recent declaration of war with Germany the freight rates have now to be increased quite 

 largely — in some instances as much as 100%, owing to increase of war risk insurance. 



This results in Porto Rico prices being now asked at parity of Cuba Sugars. 



The advance in prices of all sugars has been largely in anticipation of war conditions which 

 are now realized by act of Congress. The war influence is immediately felt in the speculative 

 markets today by rapid advance in quotations on the Sugar Exchange for future months. 

 For actual sugars the market is very strong with considerably higher pretention by sellers. In 

 instances 5J4c. c. & f. is asked by Cuban houses with fair prospects of realization soon. 



Also a new feature m the sugar market to be contended with soon is the proposal of the 

 Government to place an internal revenue tax of Ic. per lb. on all sugars going into consumption. 

 If this is carried out, as it is likely to be, the one cent per lb. will be made to apply to all sugars, 

 including Cubas, Porto Ricos, Hawaiian, Louisiana and domestic beet sugars as well as full 

 duty sugars. 



The actual final effect of this action upon the price of Cuba sugars f . o. b. or c. & f . or duty 

 jjaid cannot at this writing be forecast, but in the end the consumers will pay the cost as the tax 

 will be appHed directly to the sugars which go into direct consumption which are mostly 

 refined sugars and the revenue tax will be collected at the source which means at the refinerj' 

 or beet sugar factory. 



The influence on Cuba and other raw sugars will work back-ward from the refiner who must 

 govern his purchases of raws by the demand for refined at the enhanced prices made necessary 

 by the tax. Regulation of food prices, includiag sugar, by Government control is also a pro- 

 position likely to come into operation as the result of w^ar preparations. Certainly conditions 

 relating to sugar and its probable future course of values can only be kno-ma as they come to 

 pass and not be forecast with precision. At the moment the sugar market is strong and tending 

 upward both actually and speculatively. 



If speculation is carried to an unusual extent it is our opinion that the Government will 

 step in and regulate prices in the United States as is now being done in the warring nations 

 abroad. WILLETT & GRAY. 



New York, April 9, 1917. 



SUGAR POSSIBILITIES IN PANAMA 



[Consul General Alban G. Snyder, Panama City.] 



Panama is said to have good timberland, es- 

 pecially in the Bayano River section, which 

 has received the most attention in the past. 

 The best sugar lands, it is believed, are in the 

 Provinces of Los Santos and Veraguas. 



Leading sugar producers in this country 

 state that labor in the sugar section, Los San- 

 tos and Veraguas, is all native, and the daily 

 wage is 60 cents. Cane has to be planted 

 about every seven years. Malaria prevai's in It is estimated that the consumption of 



the lowlands. Transportation facilities are sugar in Spain amounts to approximately 

 poor. 10,000 metric tons per month. 



The Star and Herald of this city publishes an 

 interview with Dr. Edwin Dexter, of the 

 National Institute oi Panama, in wh'ch he 

 expresses the belief that the cultivation of 

 sugar cane could be greatly extended in 

 Panama and that the great future of the 

 Republic lies in that product. 



SPAIN 



