20 



THE CUBA REVIEW 



THE SUGAR INDUSTRY 



THE SUGAR TRADE OF THE UNITED KINGDOM 



Returns (taken from the official figures) of the qviantities of all kinds of sugar imported to 

 and exported from the Tnited Kiiis<loin, tof^ether with the eonsumjjtion of the ooimtry for 

 the month ending December .'^1, and for the 12 months ending December 31: 



IVIonths Ending Dec. 31. 12 Months Ending Dec. 31 



1912 1913 1914 1912 1913 1914 



Tons. Tons. Totis. Tons. Tons. Tons. 



Refined 95,427 111,349 119,400 810,842 922,545 901,930 



Raw 102,597 107,056 155,478 906,734 1,046,714 1,132,436 



Molasses 16,000 19,151 19,766 195,087 163,061 169,622 



Totals 214,024 237,556 294,644 1,912,663 2,132,320 2,203,988 



Home Consumption: 



Refined 88,965 100,124 35,656 808,037 899,327 784,883 



Refined (in bond) in the U. K 50,788 50,134 57,918 714,471 715,661 731,658 



Raw 8,801 9,574 18,478 130,505 116,942 165,377 



Molasses 16,228 19,088 17,207 186,710 158,162 165,009 



Molasses mfctd. (in bond) in U.K. 7,289 6,495 5,766 68,070 85,584 79,289 



172,071 185,415 135,025 1,907,793 1,975,676 1,926,216 

 Less Exports: 



British Refined 2,035 1,558 336 29,738 23,271 15,026 



Totals 170,036 183,857 134,689 1,878,055 1,952,405 1,911,190 



Exports : 



Refined, foreign 65 25 89 1,778 761 937 



Raw 140 104 20 11,408 3,764 7,983 



Molasses 29 17 60 404 357 217 



Totals 234 146 169 13,590 4,882 9.137 



Total deliveries 174,340 187,119 135,530 1,951,121 2,003,829 1,950,379 



— Produce Markets Review, London. 



BRITISH SUGAR MARKET IN 1914 



The year opened in a very quiet manner, 

 there being a general feeling that stocks were 

 more than sufficient and were likely to be so 

 throughout the summer. The value of Con- 

 tinental beet was at a price which presented 

 no attractions to the growers, while cane 

 sugar was also depressed by the prospect of an 

 enormous Cuban crop. The immediate ef- 

 fect of these low prices was, however, that 

 holders both of beet and cane withdrew from 

 the markets of the world as much as possible, 

 or at least did not exert any special effort to 

 sell, and set to work to find fresh outlets for 

 their goods. For example: Cuban sugar 

 fovmd its way to Japan and other unusual 

 directions. So January and February passed 

 quietly enough in spite of reduced estimates 

 of the beet crops in the convention countries, 

 and suggestions of a moderate reduction in the 

 extent of the next sowings. At this period 

 considerable sales of Cuban centrifugals were 

 made to the LInited Kingdom for near deliv- 

 ery, being obtainable at prices which were 

 relatively cheaper than beet. The entry of 

 March was signalized by the reduced Ameri- 

 can Tariff coming into operation, and record 

 weekly receipts of sugar in the Cuban ports 

 throughout the month in question. In spite 



of this and the slow diminution of the visible 

 supplies, only small fluctuations occurred in 

 the value of beet, which remained obstinately 

 above 9s per cwt. In the following month of 

 April, the tone of the markets showed distinct 

 improvement on further purchases of Cuban 

 sugar both for the United Kindgom and 

 France. The value of Beet in this month 

 rose to 9s 5d per cwt., and this advance was 

 continued in May, when 9s 8J^d was reached. 

 During this period a marked improvement 

 was seen in the American markets and large 

 purchases of Cuban sugar at advancing prices, 

 were made by American operators for ship- 

 ment at their option to the United States or to 

 the United Kingdom. Later and revised 

 estimates of the beet sowings on the Conti- 

 nent which were now complete were now pub- 

 lished, and indicated a general increase in the 

 area, particularly in Russia. The close of 

 the first six months of the year was chiefly 

 noticeable for a sharp fall in the value of beet, 

 owing to the heavy liquidation of August 

 commitments, while the value of cane in New 

 York also showed a dechne with some recovery 

 at the finish. From now onwards the market, 

 which remained generally quiet until July 21, 

 became affected by the unsettled state of 

 Continental politics, and soon after specula- 

 tive beet became disturbed by the anxiety of 



