THE CUBA REVIEW And Bulletin. 



25 



SUGAR IN JANUARY. 



Specially written for THE CUBA REVIEW by WILLETT & GEAY, of New York. 



The month of January opened with Cuba Centrifugals selling at 2 3-i6c. per lb. 

 for 96 test basis, equal to 3.550. per lb. duty paid at New York. 



European beet sugar quotation at the same time was 8s. 9^d. f. o. b. Hamburg, 

 equal to parity of 3.84c. per lb. for Cuba Centrifugals at New York. 



Thus Cuba relinquished 29c. per 100 lbs. of the 34c. per 100 lbs. given by recip- 

 rocity. This difference of selling value has continued through the month, sometimes 

 being as great as 39c. per 100 lbs., or losing more than the entire advantage of 

 reciprocity allowance. 



From 2 3-i6c. the market declined with sales at 2^c. c. and f on the nth, when 

 we remarked that prices must be at or near the bottom. In confirmation of this 

 opinion there came into the situation a large buying disposition which under large 

 purchases has kept the price from going lower throughout the month, while at times 

 business was done at 1-32C per lb. higher. The close is at 23^c'. c. and f. for 96 test 

 basis, notwithstanding the fact that quotation for beet sugar is reduced at the close to 

 8s. 7j^d., equal to 3.80c. per lb. for Cuba Centrifugals, reducing the present parity of 

 value of Cuba Centrifugals to 32c. per ico lbs. below beet sugar in New York. 



Indications now point to a greater influence from Europe if its decline continues 

 and a lower basis for Cuba Centrifugals as a temporary result. 



Thus far the sales of the Cuba crop for present and future delivery up to March 

 have kept pace with the production notwithstanding the fact that the production is 

 much more rapid than in previous years, the last week in January showing the largest 

 receipts at the shipping ports in Cuba of any week in any series of crop years. 



A little curtailed demand and a resulting accumulation of stocks in the island 

 would lead to a desire to sell more freely than required by the United States for 

 immediate use. 



Looking ahead, however, all the Cuba crop will be wanted by the United States 

 refiners sooner or later, and the more sugar that is forced to a sale below beet sugar 

 parity the higher will be the value of that portion of the crop held over for sale at 

 parity value later in the season. 



Refined sugar during January held firmer than raw sugar on a steady, fair 

 demand which makes a good report of satisfactory consumption. 



Regarding the political problems of the island, they will no doubt work out with 

 Cuban independence again established under an advisorj^ commission of the United 

 States, backed by sufficient stability to succeed. 



Oentrifugal 

 for January. 



Sugar 96° test. 

 Solid line, 190' 



Price at New York 

 •. Dotted line, 1906. 



Engineers and Contractors 



PURDY e HE.NDE,RSON, Inc. 

 ) Engineers and Contractors 

 New Yorfc Chicago Boston 



Caba Office, Empedrado 32. HaVana 



ORANGE GROVES 



Four Years Old, $3 Per Tree 



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the most up-to-date colony in Cuba, located in 

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CUBAN FRUIT GROWERS' ASS'N 

 220 Broadway, New York 



