T II E C U B A R E V I E W 33 



SUGAR REVIEW 



specially written for THE CUBA REVIEIV by Willed & Gray, Nezn York. 



We wrote ycm last mi November 2S, 1919, at which time the raw sugar market 

 was easy with sales l)eing made on the basis of Sc f. o. b. Cuba for Februarj'-April, 

 with liolders offering freely at S%c f. o. h. Cuba. Cost and freight quotations were 

 January 914c to 9%c, February S%c and March-May S^^c. The market has been 

 very irregular, and the offerings made for practically all positions have been at wide 

 variations. At this writing we quote for shipment c. & f. to New York 914 c to 11 %c, 

 the higher price being for the earliest shipments. Shipment by January 10th is quoted 

 at 11 %c, and first-half January at lOi/^c. February is quoted at 8% c to 9c c. & f. 

 and March-May shipment at the same price. Improvement has been shown, owing to 

 reports that Europe was in the market for some fair-sized lots of sugar. Some sales 

 have been reported to the U. K. at lie f. 0. b. Cuba for specified January positions. 

 The market for spot sugars duty paid at New York has been reduced from 13. 01c 

 previously quoted to nSc on the sale of 300 tons of San Domingo sugars at this price, 

 and later to 12.79c on sales of Cubas afloat at 11 %c c. & f., which is equal to the 

 latter parity. 



With l^etter conditions obtaining in raw sugars, the refined situation in the 

 United States is also showing an improvement and a great deal of relief is being 

 shoA\n in the acute shortage wliicli has existed for the past few months. Witli the 

 arrival of new crop raw sugars several of our refiners here and throughout the 

 country have entered the market, allotting sugars to their regular trade at prices 

 I'anging from 15.20c to about 16 %c, less 2% basis of Fine Granulated in barrels. The 

 arrivals of various styles of raw sugars, washed, turbinated, etc., continue fairly 

 large, receipts of these sugars during the week again exceeding 10,000 ton.s', but with 

 the offerings of regular refiners' granulated, it is now exceedingly difficult to interest 

 manufacturers in such sugars. One lot that has been on the spot has been unable 

 to find a market with the trade, and so was disposed of to refiners at 13c duty paid. 

 A few weeks ago these sugars could have readily sold to trade buyers at four or five 

 cents per lb. above this price. 



The principal item of interest has been the signing by the President of the Sugar 

 Control Bill, which gives him the authority to control sugar for another year if he 

 so desires. The life of the United States Sugar Equalization Board is continued to 

 December 31, 1920, lint control is lifted on the domestic product on June 30, 192(t. It 

 is unlikely in our estimation that the President will make any use of these powers 

 unless forced to do so by the rising prices to unreasonable limits. 



According to advices from Cuba excellent progress is lieing made with the 

 crop, with receipts at the shipping ports being the largest on record for this season 

 of the year. Visible production has already reached the figure of 106,233 tons, as 

 compared \\ith 11,511: tons last year and 61,506 tons in the previous year. One hun- 

 dred and eight centrals are now at work under favorable weather conditions. ^Messrs. 

 Guma-Mejer, the well-known statisticians, have issued their estimate of the 1919-20 

 crop at 4,435,714 tons, or only slightly less than Mr. Himely's estimate of 4.44(i.429 

 tons. We are also in receipt from Messrs. Guma-Mejer of their statement showing 

 the outturn of the 1918-19 crop b-y ports, which we append herewith : 



CcntrnU B'lo-s 



Havana 23 2.313,727 



Matanzas 26 3,710,617 



Cardenas 18 2.946.733 



Cienfuegos 2?, 2,856,240 



Sagua 17 1.437.445 



Caibarien 15 1.602,«;98 



Guantanamo . . , 12 1.015,095 



