34 



THE CUBA REVIEW 



SUGAR REVIEW 



Specially Written for THE CUIIA REVIEW by Willf.tt & Gray, of New York. 



Our last review for tliis magazine was dated October 9, 1912. 



At that time the quotation for 96 degrees test centrifugals was 4.11c. per lb. The pres- 

 ent quotation is 4.05c. per lb., which is the lowest point during the entire period. The 

 small decline was because of the restricted supplies of sugar as is usual at this between 

 crop season. 



The coming market of the Louisiana cane sugar did not help the situation as much as 

 usual as this crop is very small, reaching scarcely 200,000 tons against 316,000 tons last 

 year. 



The doiTiestic crop of beet sugar which consists of refined and not raws, does not help 

 cane refiners in their requirements for meltings. Only a few thoiusand tons of European 

 beet sugars have come forward in addition to the 50,000 tons mentioned last month. 



The lack of supplies is, therefore, shown in the reduced meltings of refiners, which, in 

 turn, has sustained the price of the refined product at 4.90c. less 2 per cent, for the entire 

 month, while the domestic refined production from beet roots has taken the larger demand 

 at irregular prices, say 20c. to 40c. per 100 pounds below the 4.90c. basis of granulated. 

 This condition should continue until the cheaper cost raws from the Cuba crop become 

 available. The real opening of business in this direction c::ime yesterday when the Ameri- 

 can Sugar Refining Co. and the Federal Sugar Refining Co. purchased some 200,000 bags 

 of new crop Cubas, paying for same 2V2C. c & f (3.86c. landed) for December clearance, 

 2%c. c & f (3.735c.) for first half January and 2i4c. c & f (3.61c.) all for January 

 clearance. When these purchases become available after December, the cane refined 

 business will drop to their parity and the meltings increase again from abundant steady 

 supplies from the Cuba and Porto Rico crops. It is a notable feature that the United 

 States is very close to independence from the Java sugars, none of which are now afloat 

 for this country against 121,000 tons at this time last year. 



Weather conditions in Cuba this year have proved very favorable for the growing crop, 

 and, in view of the largely increased plantings, the indications are that the 1912-13 produc- 

 tion will amount to 2,100,000 tons. 



The outlook for the world's supplies of cane and beet sugars for the campaign year, 

 October 1, 1912, to 1913,' is for a surplus of 2,500,000 tons over last season, and consider- 

 ably larger than the estimated requirements for the world's consumption of sugar. 



Nevertheless, the European markets are not, thus far, much impressed on this account 

 for they started the new crop campaign at the comparatively normal price of 9s 6d per cwt. 

 f. o. b. Hamburg for beets 88 degree test analysis, and gradually rose to 9s 9d, reacting to 

 9s 2^/4d followed by a steady slow improvement to 9s 6%d with slight fluctuations between 



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