THECUBAREVIEW 35 



THE SUGAR REVIEW 



Specially written for the Cuba Review by Willett & Gray, New York. 



Guir last review for this magazine was dated September 7, 1916. 



At that date, Cuba Centrifugal sugar £6° test basis was quoted at 4J^c. per lb. c. & f. 

 (5.14c. duty paid) and is now 5.00c. c.& f. (6.02c. per lb. duty paid), showing an advance during 

 the period under review of J-gc. per lb. 



The increased demand for refined sugar by the country has been beyond the means of the 

 refiners to meet promptly, and hence, a continued advance in the price of refined was made and 

 necessitated a corresponding advance in raw sugar. 



When raw sugar was at 5.14c. per lb. duty paid on Sept. 7th, the refined granulated was at 

 6.125c. per lb. net cash, giving a difference between raws and refined of 0.£85c. per lb. to cover 

 cost of refining. Cn Sept. 12th the raw sugar changed to 5.39c., reducing dilTerence to 0.735c. 

 per lb.; Sept. 13th, raws further advanced to 5.52c. and refined to 6.272c. per lb., a commercial 

 difference of 0.752c. per lb. Sept. 14th, raws reacted to 5.27c. per lb. without change in refined. 

 Sept. 18th, raws returned to 5.52c. with refined unchanged. Sept. Kth, the raws advanced to 

 5. 64c. and reduced the difference between raws and refined to 0.632c. per lb. Eaws continued 

 advancing to 6.02c. and refined to 6.615c., reducing difference to 0.5S5c. per lb. The market 

 reacted to 5.8€c. for raws until October 2d, it returned to 6.02c. and granulated advanced to 

 6.762c. net cash, giving difference between raws and refined of 0.742c. per lb., which has con- 

 tinued the net mai'ket quotations until now. 



Items of special interest during the period under review have been the acceptance of 

 orders by Michigan and Ohio beet sugar producers for October deliveries at 6.05c. per lb., New 

 York basis, but advancing prices to correspond with the rise in cane sugar value till the present 

 time, when domestic beet refined is quoted at Kansas City, Missouri, at 6.S0c. basis against 

 7.00c. less 2% for cane refined. iV^ichigan beet refined is at the same basis 6.80c. at Detroit. 



The IT. S. domestic beet sugar crop has been delayed so that but little of this sugar has as 

 yet been delivered for actual consumption. 



About Sept. 22d, the American Sugar Eefining Co. contracted with Louisiana planters for 

 50,000 tons of that crop raw sugar November January delivery at New Orleans at price 20c. per 

 100 lbs. below New York price of €6 Centrifugals on days of deliveries. The Henderson re- 

 finery, New Orleans, also bought 40,003 bags of the Louisiana crop sugars on the same basis. 

 Neither the domestic beet sugar nor the Louisiana cane sugars of the new crops are yet inter- 

 fering with or influencing the value of the Cuba cane old crop sugars. The new Cuba crop 

 which matures from December onward, is without influences on prices for the present. 



The Louisiana planters were given till October 7th the privilege of increasing amounts of 

 contracts to the American. 



The 1215-16 Cuba crop has now outturned to Sept. 30th, 2,£78,855 tons sugar, continued 

 estimate of 3,000,000 tons total for this crop appears approaching correctly. As appears from 

 all we have written, there is still some time left for continuance of present values of Cuba raws 

 before the IT. S. domestic cane and beet crop sugars become largely available. 



Export business in refined sugar has continued to various European countries and still 

 extends into 1S17 by recent reported contracts for 30,000 tons January, February, March 

 deliveries. 



With continued war well into 1£17, sugar prices are likely to be higher at times than in 

 1916, while with an unanticipated sudden end of war in Europe, the sugar values of K16 can 

 hardly be expected to be maintained. WILLETT & GRAY. 



New York, October 7, 1£16. 



REVISTA AZUCARERA 



Escrita especialmente para la Cuba Review por Willett & Gray, de Xueva York. 



Nuestra ultima resena para esta publicacion estaba fechada el 7 de septiembre de 1916. 

 En esa fecha, el azucar Centrifugo de Cuba polarizacion C6 se cotizaba a 4J^c. la libra 



