32 THE CUBA REVIEW 
SUGAR REVIEW 
Specially written for The Cuba Review by Willett & Gray, New York, N. Y. 
At the time of our last review of the New York sugar market raw sugars were 
quoted on the basis of +%c c. & f. and further declines resulted until the low point 
for the year of 35%c c. & f. was reached on December 15th. Since that date, how- 
ever, there has been a slight reaction and raw sugars returned to the level of 4%c 
e & f At this level, however, the advance could not be maintained, the price bring- 
ing out more sugars than buyers were willing to take and a lower level was soon 
established on the basis of 43%c c. & f£., which we quote at this writing? The market, 
has been very quiet throughout the entire period with little incentive for buyers or 
sellers to do business, influenced by the lack of demand for refined sugars. The 
latter market followed the course of raws and the lowest price now named is 7.90c 
less 2 per cent. for cash quoted by two New York refiners, with practically all the 
other cane refiners in the couniry quoting on the seaboard basis of 8c. The demand 
is strictly hand to mouth with buyers looking for still lower prices. Export business 
in refined sugar has also been very light, resulting in concessions being made. Sales 
of export have been reported as low as 6c net cash in bond, although refiners’ views 
are now generally 644c to 6%c in bond. 
The work of harvesting and grinding the new crop in Cuba commenced on 
November 24th, or about two weeks later than the start last year. Private advices 
today report that seventeen factories are now at work as compared with one hundred 
and eight this time last year. The weather has continued unsettled, which has had 
a slight deterrent effect upon the start of grinding operations and the fact also that 
there is still a good stock of old crop sugars unsold in the Island together with the 
prevailing low prices have also had their influence. 
There has been little of interest. from the Continent since our last report. In 
the United Kingdom efforts are being made to discontinue the Food Control and 
instructions have been given to do so as soon after December 31, 1920, as practicable, 
although it is likely the Royal Commission will be in process of liquidation for some 
months to come. Mr. Licht, the German statistician, has issued his estimates for 
the European beet crops for 1920-21, the details of which are as under: 
1920-27 1919-20 
Tons Tons 
ES Per URESE RNG pe oe Sah are ee ee cet Si ew ee art oh a 1,200,000 739,548 
GepetuneSsliga kate oo tee oc er ee me Ar re ete 725,000 489,366 
JTS Se Seyret etre PRS ERA = Os AER oer ete 10,000 5,132 
on op BeOS BRS Jee ae est ar Sear epee erator 25,000 8,019 
PS] Ot ae al eee eae eet ap ed, SU Pyrpsoe eek Se eee tei 200,000 140,000 
Ln ee: RE ee ee te ore ne ee ee tere pee ieee 300.060 172,495 
PS ETS See es ee eto ee tee eee cy eee mee CC 235,000 146,918 
iene en ena oo eee ee ee, oe eee rs ale 300,005 238,692 
Wotsl. Soe as Poses cee ees Ones 2,995,000 1,940,170 
fens UREAING 5 oc dae fg ou dace eases a a ee lor 50,000 86.691 
Other countries . ..--..-------- +--+ +--+ +000 eee eee e reese 725,000 597,318 
otal _.......-. 2.5 sas 3.770.009 2,624,179 
Our cable from the Philippine Islands reports no exports of sugar to the United 
States during the month of November. 
Our cable from Java reports 58,000 tons shipped during November and destined 
either for Atlantic ports or Europe with probably the major portion of this quantity 
coming to the Ailantic ports. 
New York, N. ¥.. December 27, 14920. 
