84 THE CUBA REVIEW 



SUGAR REVIEW 



specially -irittcn for THE CUBA REVIEW by WUlctt & Gray. New York. 



Since our Inst review of the New Yorlc Sugai' Marljet, written on Aiifrnst 27, the 

 deuinnd for raw siipnrs has heen particularly light and the market has remained 

 quiet during nearly the whole period until the past week, when more activity has 

 been sliown, culminating in sales today of full duty sugars on the basis of S%c c. 1. f., 

 equal to 9c cost and freight for Cubas, the new low point on raw sugars for the year. 

 The previous low point of the market this year was reachetl on February 24th, when 

 raw sugar sold on the basis of 0.12ric cost and freight, after which advances occurred 

 until tlif peak was reached on May lOtli, when the quotation reached 22..'jOc cost and 

 freiglit. 



The itosition of refined sugar remains unchanged from our latest report as far 

 as the demand is concerned. The principal business doing is still from second hands, 

 jobbers who have surplus stocks endeavoring to dispose of them among the trade at 

 material concessions from the purchase price in practically every instance. Refiners, 

 owing to lack of demand from their trade in a number of instances, have closed down 

 their refineries or have at least reduced meltings materially. The American Sugar 

 Refining Co. continues withdrawn from the market and the Warner Refinery likewise, 

 although the latter has, in instances, disposed of refined sugar for account of customers 

 at market quotations. After a series of declines, Arbuckle, Federal, and the National 

 Refinery have now reached the basis of 14c less 2 per cent, for cash with sugars 

 obtainable from second hands among the jobbers at 13.50c to IS.GOc with consequent 

 small demand upon the refiners for their product. 



As far as Cuba is concerned there is little of interest to report from this section 

 of the Sugar World, receipts and exports of sugar from the Island being small, as usual 

 at this time of the year, and the latter being entirely in line with the small business 

 that has lieen done in Cuban Sugar during the past few weeks. Thi-ee Centrals con- 

 tinue to grind the old crop, with a visible production to date of 3,o(J(>,272 tons against 

 3,702,00.3 tons to the same date last year. As regards the new crop our cable advices 

 report that conditions generally are very satisfactory, although in instances reports 

 of lack of rain in some sections of the Island have been received. 



It is interesting to note the termination of the grinding season in Forto Rico, from 

 which quarter we have received from correspondents final figures of outturn on the 

 1919/20 Forto Rico crop. The production amounts to 433,825 tons against 362,618 

 tons last season and 413,958 tons in the 1917/18 campaign. 



News from the continental beet crops continues generally very satisfactory and we 

 still maintain our estimates as puldished by you last month. In France the Govern- 

 ment has done away with the sugar cards, having now decided that there is ample 

 sugar olitainable not only from the local crop but other sources as well. Reports from 

 Czecho-Sjdvakia continue optimistic, although the situation as regards coal and other 

 supplies is by no means as yet normal. The weather conditions in Germany have been 

 satisfactory for field work, which has made good progress, and some factories will be 

 making sugar by the end of this month. 



From the Island of Java we have a small increase in the estimate of 1920/21 crop, 

 which has been increased from 1,460,000 tons to 1,515,000 tons. Shipments of sugar 

 from the Island during the month of August amounted to 185,000 tons to the United 

 States Atlantic Ports and Europe, and 50,000 tons to Oriental countries. Of the quan- 

 tities reported destined for the United States there have been a number of resales or 

 cancellations, so that the quantity so diverted will probaltly now total 3,000 tons. 



Exports from the Philippine Islands during the month of August dropped off 

 materially, totaling only 9,000 tons shipped as compared with 67,000 tons shipped in 



