26 



THE CUBA REVIEW And Bulletin. 



SUGAR IN APRIL. 



Specially written for The CUBA KEVIKW by Wlllett & Gray, of New York. 



April proved to confirm all that was expected from it in our review for March. 



Beginning the month with Centrifugals at 2'4c. per lb. cost and freight for 96 test 

 equal to 3.61c. per lb., duty paid landed in the U. S., we can quote the closing prices 

 of the month at 27-16C. c and f for May shipment and 2)/Sc. c and f for June shipment, 

 showing a gain of .3-16C. to '/Jc. per lb. for the month. 



This advance followed closely on the weekly news from Cuba by cable, giving 

 the rapid drawing to an end of the making of the crop. 



At the beginning of .\pril 180 centrals were working, while at the close only 82 

 were grinding, a quite unusual decrease of 98 centrals for the month. Last season the 

 full number of 180 centrals kept at work throughout the month of April. 



The rapidity with which the crop is making this season is shown by the figures of 

 visible crop on April i of 1,017,152 tons and on May i of 1,20c, 000 tons. 



The indications are now that the total production in Cuba this season will reach 

 1,325,000 tons against last crop of 1,178,749 tons sugar. 



The rei)orts received from Cuba naturally afifected the European beet-sugar mar- 

 kets, con.-tantly causing an improvement in values there from 9s 3d at beginning to 

 9s 6d during the month, the final quotation at end of April being 9s 554d, equal to 

 3.98c. for Centrifugals 96 te^t parity against New York spot quotation of 3.765c. The 

 difference in parity of beet-sugar and Centrifugals at beginning of April was .32c. 

 per lb. and at the close .21SC. per lb. 



The advance in Cuba values more than keeps pace with beet-sugar improvement. 



The fact tliat beet sowings for the European crops are now estimated at only 

 2j/2% increase instead of 5%, as expected, is an important factor for continued im- 

 provement in all ."-ugar ]iositions for a long time to come. 



The reports from Cuba of continued drought and its effect upon the next crop 

 season is, also, an imjiortant factor in the same direction of increased value per 

 pound for the crop to be made. 



From the first of May to the present writing (May 6) there has been quite 

 a sharp advance in values both here and in Europe. 



Java sugars, which have been neglected because of the high prices asked, have 

 now found buyers in considerable amount at the asking prices of ics 3d to los 45^d 

 c. i. f., equal to 3.97c. to 3.99c. per lb. duty paid for August/September arrival. 

 This is the beginning of a demand from United States refiners for outside sugars, 

 as the indications are that after absorbing all of the sugar available from Cuba and 

 American possessions, it will be probably necessary to bring 375,000 tons from 

 Java/and/or Europe before the next Cuba crop comes to market freely next 

 January. 



Next crop beet-sugars hardly yet above ground are in demand at 6d, recent 

 advance to 9s gd, the parity of 4.04c. for Centrifugals at New York. 



The whole outlook is extremely favorable for continued advance extending into 

 the next Cuba crop season. 



Refined sugar has been in fairly good demand through April, but with only 

 one change in quotations, an advance of loc. per 100 lbs. made on the nth. Further 

 advances must be expected as soon as the demand for new business shows more 

 activity. 



Centrifugal Sugar 96° test. 

 Price at New York for March. 

 Solid line 1907. 

 Dotted line 1906. 



Centrifugal Sugar 96° test. 

 Price at New York for April. 

 Solid line 1907. 

 Dotted line 1906. 



