14 THE CUBA REVIEW 



THE SUGAR REVIEW 



• Specially uritten for The Cuba Review by YVilleU & Gray, Xew York 



Our last review for this inaKazine was dated February 8th, 1916. 



At that date, Cuba Centrifugal sugar of 90° test was quoted at 8 27-.32<\ per lb. c & f, 

 the value at this ^^Titing has risen to 4^c. c & f for prompt shipment March and April ship- 

 ments, showing the unusual advance for a month of 53 cts. per 100 lbs., together with an active 

 buying market by both refiners and operators on the way upwards, and most largely and per- 

 sistently by refiners, owing to a large and increasing demand for the refined jjroducts, both for 

 local consumption and for export demand. 



The Porto Rico free duty sugar participated in the advance and rose from 4.70c. per lb. 

 to 5.27c. per lb. Porto Rico futures sold at 5.33c. per lb. for April. 



Many buyers of refined have now secured supplies for 60 days and in some instances as far 

 ahead as to July Lst, the latter buying being of domestic beet refined, rather than of cane 

 refined. This fact together with the report that the buying of all sugars for both the Great 

 Britain and J'rance consumption is now placed in the hands of the British Commission, indi- 

 cates a more conservative market for both raws and refined from now forwards still, inasmuch 

 as the original estimates of the cane sugar crops of the world were scarcely more than sufficient 

 to supply the cane sugar requirements of the countries shut out from obtaining the beet sugar 

 crops of Europe by the war. There is always the possibility that any resulting shortage of any 

 cane crop by drought or other unfavorable conditions will have the eflfect of further advancing 

 values. Such at the moment is the indication from the Cuba crop which is being affected by a 

 long continued spell of dry weather which, if continued long enough, will no doubt reduce that 

 crop somewhat below the original higher estimates though perhaps not materially below our 

 own estimate of 3,000,000 tons which we see no reason to change at this WTiting. 



Tariff, action on the free duty clause has been delayed by other important matters which 

 are now out of the way, and the bill rescinding free duty after May 1, 1916, will soon be acted 

 upon and no doubt be confirmed, so that the duty on Cuba sugars will probably remain in- 

 definitelj' at 1.004c. per lb. for 96° test as at present. 



The strong market for raws and refined may be continued until July when the usual down- 

 ward trend may begin by reason of the domestic beet sugar crop begiiming to come in the 

 market in July from California followed later by the production of other states. 



Freight rates continue as high as ever and at the moment the offering of distant month 

 sugars from Cuba is restricted by absence of available vessels. 



Recent labor strikes are now settled at the refineries. 



The Franklin Refinery of the American Sugar Refg. Co., which has been closed for many 

 years, is about to be re-opened for supplj-ing export orders for refined. 



Fine granulated sugar is now generally held at 6.50c. less 2%. 



New York, March 9, 1916. WILLET & GRAY. 



SUGAR MILL PURCHASES ^^ suspend operations until new equipment 



It is the out-of-season time for the sugar can be obtained. The opinion is expressed 



.„ . " , ,1 , c that a good market could be made in Cuba for 



mills lust now to make large purchases of , . ^ .,, . , , , , 



machmery, mill equipment, articles of hard- 



machinery- and hardware articles, but a large ^^.^^^^ ^^^^ -^ ^^jj^^^^. ^^^,j ,^^ guaranteed for 



demand for these articles is expected to begin next October and November; but it is said 



about May or June in preparation for sugar that many of the American concerns manufac- 



operations the following season, and com- turing these articles are devoting themselves 



plaints are heard of delays in receiviag orders to the manufacture of other more profitable 



placed in the United States, and still greater lines intended for use of the warring nations. 



difficulties in obtaining supplies from Europe, It may be said in general, however, that most 



whereordersarebeingonly partially executed. of the hardware articles formerly imported 



In some cases these delays are causing con- from Europe are now being brought from the 



siderable loss to the mills, as thej' are forced United States. 



