36 



THE CUBA REVIEW 



Desde nuestra ultima resena hemos recibido iioticias de Londres diciendo que el 

 decreto prolul'ieiuli> toda transacci6n en azucar por los conierciantes de azticar de 

 la Gran Bretaua ha sido revocado, asl es que bajo estas condiciones todos los 

 conierciantes en la Gran Bretana pueden eniprcnder el negocio del azucar en com- 

 petencia con la Coniision Real sobre la Distribuoi6n d«-l Azucar. Al publico se le 

 surte atin el azVicar con restricciones estrictas, siendo la asignacifin 8 onzas por persona 

 a las semana. Se conceder^ inia cantidad especial para preparer conservas en su 

 casa, pero el precio de Is. 2d. por libra evitarfi la posibilidad de que hagan conservas 

 en grandes cantidades. 



Nueva York, abril 28 de 1M20. 



CONDITION OF THE ARGENTINE SUGAR 

 INDUSTRY 

 According m an expert testimony of one 

 of the leading Itanking establishments, the 

 situation of the Argentine sugar market 

 has undergone a complete change, in view 

 of the removal of all doubt regarding the 

 result of the current harvest, because, al- 

 thnugj) harvesting operations may extend 

 until Noveml)er, the absence of tlie dreaded 

 frosts aln-ady insures production far in 

 excess of home requirements until the 

 next crop. The production of sugar in the 

 Province of Tucuman is estimated to 

 reach at least 2(;0,0ii0 metric tons, and 

 that of other sugar-growing Provinces — 

 Jujuy. Salta. Chaco, Corrientes — to about 

 oO.tiiiO metric tons. If to this total of 

 250.0(X> metric tons there be added the 

 surplus of 40,<iOO metric tons of sugar im- 

 ported free of duty, the country possesses 

 an available and prospective stock of 200,- 

 iXiO tons for its needs during the present 

 industrial year. As those requirements 

 are estimated at 200,0<X) to 210,0()0 tons, 

 there will be an eventual surplus of 80,000 

 to 90.000 tons. 



DECREASE IN PRICES 



This difference between the estimated 

 demand and the supply caused, some weeks 

 ago, a sudden fall in prices of all classes 

 of sugar. Refined sugar in bags (crushed) 

 fell from the price of 7.50 paper pesos 

 ($3.18 American currency) net per 10 kilos 

 (22 pounds) to the present quotation of 

 6.50 pesos ($2.75 American currency) ; tab- 

 lets have fallen from 7 pesos ($2.97 Amer- 

 ican currency) to 6 pesos ($2.54 American 

 currency) per case of 10 kilos. White un- 



refined sugar (granulated) and first crush- 

 ings have declined in price to similar ex- 

 tent ; they are now quoted at between 5 

 pesos ($2.12 American currency) and 5.80 

 pesos (.$2.46 American currency) per 10 

 kilos. 



The recent Government decree prohibit- 

 ing the exportation of sugar assisted the 

 decline in quotations. 



The manufacturers are now again faced 

 with the problem of overproduction ; this 

 problem was previously solved by export- 

 ing sugar, principally to England and Uru- 

 Liuay, but this solution is one to which 

 they cannot, under present circumstances, 

 have re<<>urse. in view of the prohibiting 

 decree. If the prohibition is maintained, 

 the mainifacturers will necessarily have 

 to hold the excess production of 80,000 to 

 fHi.nor* tons. This means that capital 

 amounting to 30.000,000 to 40,000,(X)0 pesos 

 ($12,720,0<J0 to $16,060,000 American cur- 

 rency) will be tied up, and the makers 

 must seek assistance from the banks, as 

 very few of them possess capital and 

 credit facilities adequate to finance In- 

 dividually so large an output by their 

 respective mills. 



On the other hand, it is to be regretted 

 that our sugar industry should be pre- 

 vented by the exportation prohibition from 

 profiting by the prices now ruling in the 

 world market for this commodity. There 

 is a scarcity of sugar all over the world, 

 and no relief can be looked for until the 

 new Cuban harvest is on the market. 

 Uruguay would willingly seek supplies of 

 sugar in Argentina and would pay prices 

 higher than those which are now quoted 

 in our home market. — Consul General W. 

 Henri/ Robertson, Buenos Aires. 



