34 THE C U B A IJ E N' 1 E W 



SUGAR REVIEW 



Sfccially znittcn for THE CLBA KlillliW by Uitlctt & Gray, Acw York. 



The IJjiw Snjriir Market lu-ie dming the past few days has lacked the excite- 

 ment of I lie preeeiliiig weeks «il' April, and while husiness has been quite active no 

 further advances have been reported, the market for Cuba Centrifugals remaining 

 on the basis of lS%c c. & f., equal to lO.oOc duty paid. liecent sales of Cubas at 

 this ligure include prompt May and June shipments and Porto liico sugars for April 

 and May. Additional (piantities of Philippine sugars amounting to some L'.",0<X» tons 

 have also been included in the sales. It is interesting to note the very large pur- 

 chases of sugar from various parts of the world which have been attracted to this 

 market by the prevailing high level of values and we estimate that close to 2.j0,000 

 tons of these outside sugars have been sold here, among the countries shipping or 

 re-selling to this market being Java, China, Japan, South Africa, Formosa, Brazil, 

 Peru, Argentine, IMiilippines and various Central American countries, while last 

 year our imports were praetically all contined to Cuba, Porto Kico, Hawaii and the 

 I'hilippines. 



The Koyal Conuiiission. owing to the fact that it has lieen able to buy raw sugars 

 from other countries cheaper than from Cuba, has been withdrawn from the market 

 recently. It reports recent purchases of some 2.j,<M)0 tons of I'eru and otiier sugars 

 at prices considerably l)elow those asking for Cubas. 



At the present basis, we are inclined to think that the statistical position of 

 sugar is fully discoimtcd and that a re-action is ahnui k\\\\\ Part of the advance 

 was of course caused by tlie fact that estimates of the Cuba crop were reduced ; our 

 own to 4,000,000 tons and which was shortly afterward followed by Mess. Guma- 

 Mejer's reduction to 3,9(10,000 and Mr. Himely's estimate to .1,025.000 tons. On the 

 other hand it now appears to us that we have heard tlH> worst in regard to the 

 Cuba cro]) and in fact tlie favorable weather conditions \\hich have prevailed in the 

 Western i»art of the Island will, in our opinion, discount, to a large extent, any 

 shortage that may appear in the Eastern end where the weather has been unfavorable. 

 Visible i)roduction in the Island has reached the figure of 2.474,'-!l0 tons against 

 2.321 ,in:^ last year and 2,179,097 tons in 1918 to same dat(>. One hundred and 

 sevtMity-two Centrals continue to grind cane at this writing. 



.Vs regards oui' domestic refined sugar situation here, the shortage is very acute, 

 and wliile refiners ai'e alloting the few refined sugars they have to offer from time 

 to time at present allotment basis of from 17^c to ISr/c, sales through second 

 hands liave been made as high as 27c to 28c per pound, while White Javas for 

 April/May shipment and later ixtsitions have .sold at prices ranging from 19c to 21c 

 duty iiaid, with vaiious washed sugars on the spot bringing even higher prices in in- 

 stances. 



In view of the i)resent high prices for both raw and refined sugar the following 

 table whicli shows the highest jirice jtaid for sngai" since ls4<» will be of interest: 



//////( l.Dir Arrrage 



1804 (Civil War I (Jran .lo.fKic l().s7.".c 22..563C 



Paw 21.7.". 12.S7.-. 17.188 



180.1 (Civil War) (Jran 2s..-o is.oo 21. .562 



Paw 19.125 12.00 14.406 



Since we last wrote you we have received advice from London that the decree 

 prohibiting all dealing in sugar by the sugar trade of the United Kingdom has been 

 revoked so that under these conditions all merchants in the United Kingdom can 

 enter into the sugar business in competition with the Royal Conunission on the 

 Sugar Supply. The public is still being strictly rationed, the allowance being 8 oz. 

 per person per week. A special allowance will be granted for home preserving but 

 the price of Is 2d per pomid will preclude the possibility of any large amount 

 being done. 



