THE CUB A RE V IE W 33 



Sugar Review 



specially written for The Cuba Review by Willett & Gray, New York, N. Y. 



Since our last report, October 16, the markets have been quite uninteresting 

 in that they have showed practically no fluctuations in that time. At the time of our 

 last review, Cuban sugars were quoted at 3^c. c. & f., and since then the market has 

 been unchanged with the exception of one attempt to put sugars up to the 3%c. c. & f. 

 basis. This move did not meet with success and after moderate transactions of 3%c. 

 c. & f., the market re-acted to the 3^4C. c. & f. level. At this basis, Cuban sellers were 

 willing to meet the demand freely from refiners and this selling on their part enabled 

 the refiners to overcome their previous small supplies of raw sugars, so that they are 

 now in a fairly comfortable position. In fact, we think that some of the refiners now 

 have more raws than they have sold against in the shape of refined. During the month 

 refined buyers have bought very freely. In fact, some refiners have been oversold as 

 much as a month but now, with the free arrivals of raw sugars, these oversales are being 

 rapidly shortened and it is now possible to buy refined sugar for prompt shipment. 

 The large shipment of refined sugar throughout the country has caused some buyers to 

 rc-sell as they had more refined than they knew what to do with and this re-selling 

 keeps the market quiet. 



Of course, the whole trade is now watching developments of the new Cuban crop 

 and as rains have been quite general, the reports from Cuba indicate that the crop is 

 in a very fine condition and if the cane continues to improve under favorable conditions 

 this crop is likely to break all records as to tonnage. In this respect, we have issued 

 our preliminary estimate for the new sugar campaign year and, in making our prelim- 

 inary estimate of 4,000,000 tons for Cuba, we have taken into consideration the excellent 

 condition of the cane at the present time. 



SUGAR CROPS OF THE WORLD 



The Follo^atxg are Willett & Gray's Latest Estimates 



Harvesting Tons Tons Tons 



Period 1922-23 1921-22 1920-21 



United States— Louisiana Oct.-Jan. 215,000 289,669 150,996 



Texas Oct.-Jan. 1,000 2,920 6,238 



Porto Rico Jan.-June 400,000 385,000 438,494 



Hawaiian Islands. Nov.-July 490,000 490,000 508,392 



Virgin Islands W. I Jan.-June 6,000 5,000 4,500 



Cuba Dec-June 4,000,000 3,996,387 3,936,040 



British West Indies— Trinidad Jan.-June 55,000 52,000 54,933 



Barbados Jan.-June 35,000 36,000 24,817 



Jamaica Jan.-June 38,000 42,167 39,960 



Antigua Feb.-July 12,000 9,850 11,320 



St. Kitts Feb.-Aug. 15,000 8,426 8,063 



Other British West Indies Jan.-June 10,000 9,238 3,603 



French West Indies— Martinique Jan.-Juh- 19,700 18,329 23,834 



Guadeloupe Jan.-Julv 30,000 32,000 25,426 



San Domingo Jan.-June 200,000 225.000 185,546 



Havti Dec-June 12,000 12,283 5,625 



Mexico Dec-June 120,000 119,800 115,000 



Central America— Guatemala Jan.-June 20,000 19,090 17,500 



Other Central America Jan.-June 28,000 27,972 36,692 



So. America— Demerara Oct.-Dec & May- June 100,000 108,270 96,168 



Surinam Oct.-Jan. 11,000 10.000 9,394 



Venezuela Oct.-June 16,000 16,000 15,000 



Ecuador Oct.-Feb. 8,000 7,000 6,998 



Peru Jan.-Dec 340,000 325,000 344,024 



Argentine May-Nor. 200,000 175,000 202,158 



Brazil Oct.-Feb. 340,000 325,000 340,063 



Total IN America 6 721,700 6,747,401 6,610,784 



