T H E C U B A R E V I E W 35 



SUGAR REVIEW 



Specially written for The Cuba Renew, by WilleU & Gray, New York 



Our last review for this magazine was dated August 5th, 1915. 



At that date Cuba Centrifugal sugar of 96 test was quotetl at 4.39c. per lb. duty paid, 

 and it is now 4.45c. per lb. 



The trend of the market as is usual at this season of the crop year has been quite irregular 

 during the time under review. 



The first change of importance was an advance to 4.64e. per lb. on the 9th of August; to 

 4.77c. on the 10th; 4.83c. on the 11th; 4.95c. on the 12th; from this high point the downward 

 trend was again renewed to 4.70c. on Aug. 23d; followed on the 25th to 4.64c. per lb.; rallied to 

 4.70c. on the 26th; and to 4.77c. on the 30th; declining to 4.58c. on Sept. 2d and to 4.45c. on the 

 8th at this writing. The decline is checked by purchases made by operators of some 80,000 

 bags. 



Several influences now dominate the sugar market, and these are of most imjxjrtance on 

 the downward side. 



September is the month preceding the commencement of the marketing of the new 

 domestic beet sugar crop. The marketing of this crop this season is to be done under different 

 conditions than was evident in any preceding crop. The crop is larger than any previous crop, 

 and as the Tariff Law now reads there will be about one cent per lb. less duty to pay on Cuba 

 sugar, which if enforced means one cent per pound less value for domestic sugar after May 1st, 

 1916. 



Naturally there will be pressure to sell the domestic crop sugars without carrying them over 

 into the free duty period. 



Several suggestions regarding sugar duties come from more or less authoritative sources, 

 viz.: a retention of the present duty which provides for about Ic. per lb. on Cuba sugar; a sug- 

 gestion of free duty sugar with small internal revenue tax on all sugars going into consumption. 



It is too early to anticipate what definite action will be taken by the next congress. 



There are no conditions as to supplies and demand that warrant am' gootl expectation of a 

 renewal of advancing prices to former levels. 



Buying of refined for Great Britain and France continues to some extent, some 20,000 tons 

 granulated having been taken this week, but not so largely as to make any danger of trespassing 

 on the required supplies for the United States to end of year. 



This domestic beet crop jiromises to turn out as favorably as before reported, say 750,000 

 to 800,000 tons. 



Refined sugar has participated in the decline in raws and whereas a month ago granulated 

 was 5.80c. less 2%, it is now 5.50c. less 2% by some refiners. 



Domestic Beet Granulated sells on a basis of 5.30c. to 5.40c. less 2%, as again.st Cane 

 Granulated. 



The sugar outlook is toward a slow decline for remainder- of the year, in the absence of any 

 visible short supplies. 



New York, September Sth, 1915. WILLETT & GRAY. 



REVISTA AZUCARERA 



Escrita esP'-ciilmente para .'u Cuba Review por Willett & Gray, de Nueva York 



Nuestra ultima re.sena para esta publicacion estaba fechada el 5 de Agosto de 1915, en 

 cuyo periodo el azucar centrifuge de Cuba, polarizacion 96°, se cotizaba a 4.39c. la libra derechos 

 pagatlos, y ahora se cotiza a 4.45c. la hbra. 



La tendencia del mercado segiin es usual en esta estacion del ano respecto a la cosecha ha 

 sido bastante irregular durante el periodo bajo reseiia. 



El primer cambio de import ancia fue un alza a 4.64c. la libra el 9 de Ago.sto; a 4.77c. el dia 

 10; a 4.83c. el dia 11; a 4.95c. el dia 12; de.sde este alto punto volvio a tener lugar la tendencia 



