32 



THE CUBA REVIEW 



SUGAR REVIEW 



Specially Written for The Cuba Review by VVillett & Gray, of New York 



THE UNSETTLED BEET MARKET A DISTURBING ELEMENT — A FURTHER 

 RALLY IN PRICES EXPECTED 



Our last sugar review for this magazine was dated August H). 1910. 



At that date centrifugal sugar of VtG test was quoted at 4.39c. per pound. 



To-day's valuation is 3c. c. & f. equal to 4.3(jc. per pound. During the interval cen- 

 trifugals have sold at 3%c. c. & f. (4.48Vl'C.) per pound landed for September shipment. 



The general normal value of the Cuba crop has been 3c. c. & f., but twice during the 

 campaign the quotations have advanced to 3Vsc. c. & f., the first time early in the season 

 for May shipment, and the second time recently for September shipment, as foreshadowed 

 in our last report. After the hrst rise to 3Vsc. c. & f. the market reacted to 2%c. c. & f. 

 After the last rise to 3%c. c. & f. the market has leacted to 3c. c. & f., and is quite 

 steady with further buyers at the price. 



There are possibilities between now and the new Cuba crop in December that warrant 

 to some extent a third rally which may be developed any time when present unfavorable 

 conditions in Europe change to favorable ones. 



The disturbing element at the moment is the unsettled beet market, caused by the 

 necessary coming together of values of old and new crop sugars, such as was made yester- 

 day by a decline of 6%d. in the old, with only vid. decline in the new. The difference 

 remaining to be covered is now only 7%d., so that no further violent fluctuations should 

 be feared. October beets are now lis. <j%d. equal to 4.44c. per lb. for Centrifugals here. 



The sugars coming into direct competition with the 80,000 tons Cubas still to be mar- 

 keted are the Centrifugals held here by speculators say 6.j,000 tons, and say 150,000 tons 

 of Javas afloat with U. S. Options. The Javas are offered to some extent at basis of 

 4.42c. per lb. for 96 test, but have sold recently for Europe at basis of 4.4.ic. here. 



Thus far, Javas have not competed with Cubas and Porto Ricos. 



Looking ahead to next campaign, the European beet crops will be considerably larger 



C Continued on page 34) 



Acucarera Kohekirin. Isla de Formosa 

 Sugar Mill in Formosa. 



