THE CUBA REVIEW 33 
SUGAR REVIEW 
Specially written for The Cuba Review by Willett & Gray, New York, N. Y. 
The lack of demand for refined sugar in the United States has continued to have 
a depressing effect on the raw sugar situation and quotations for the latter have de 
clined until at this writing they are established at the basis of 3%c ¢c. & f., at which 
level buyers are showing a-little more interest. 
Quotations for cane granulated sugar are on the seaboard basis of 7144¢ less 2 
per cent., although there is considerable competition among the refiners for the small 
business obtainable, and while some refiners are consigning sugars to many sections 
where it has been unusual in the past to do so, other refiners offset this by guarantee- 
ing prices against decline up to the arrival of the sugar at ultimate destination. In 
central territory there has been considerable competition between cane and beet 
sugars and a series of rapid declines have resulted until cane sugars are now on the 
basis of 7.45¢, with best granulated on the basis of 7.40c in territory east of Chicago 
and 7.35¢ in territory west of Chicago, instead of the usual 10 and 20 point differen- 
tials respectively below cane sugars. 
Since our last report we have issued our figures on the United States consumption 
of sugar. 
The consumption of Continental United States for the calendar year 1920 was 
4,084,672 tons refined or consumption value. This is an increase over the consumption 
in 1919 of 17,001 tons or 0.418 per cent., against an average increase in consumption 
of 5.263 per cent. for 98 years. The per capita consumption in 1920 was 86.56 pounds. 
The year 1920 was the most remarkable and historic in the sugar trade. The 
year started off with very small or ‘practically no invisible stocks and with the 
cessation by the Government of the control of sugar prices, all consumers, from the 
housewife to the jobber and manufacturer, started in to protect themselves with a 
supply of sugar and the very large imports of sugar together with the rise in prices 
and heavy speculation during the first part of the year gave most people the idea 
that there would be an immense increase in the United States consumption for 1920. 
The so-called shortages were in many cases not shortages in relation to previous 
normal supplies, but shortages only in relation to abnormal demand. However, after 
the peak of raw sugar prices was reached May 19th the ensuing decline was carried 
to such an extent that the public drew on their own invisible stocks instead of taking . 
on more new sugar and for this reason the production of Continental United States, 
both beet and Louisiana cane, coming as they do at the end of the calendar year, 
suffered most, and this accounts for the small amounts of their sugars consumed. 
The operations of the Atlantic Ports refiners show an increase as compared with 
their outturn of last year, both considered as to the amount of their product con- 
sumed in this country and also the aggregate of their operations, including the 
exports, even though the exports of this year were less than last year. The con- 
sumption through New Orleans is also increased. This was caused to a great extent 
by the large amount of sugars which were imported through that port and which 
went into consumption in the raw or plantation state. Savannah and Galveston 
figures are also largely in excess of those of the previous year, as was also the con- 
sumption through the Port of San Francisco. It must be remarked in passing that 
through all these principal ports of entry, due to the high prices and delays in refiners’ 
deliveries, there were imported large quantities of white or other raw sugars which 
found their way into direct consumption. This will be evidenced when the net figures 
for this class of sugar are taken into consideration, the amount this year being 
609,902 tons, against 167,727 tons in 1919. 
We have already noted above the small consumption of the United States beet 
