THE CUBA REVIEW And Bulletin. 



■^7 



SUGAR IN AUGUST. 



Little Change in Prices — ^Weather Conditions Unsatisfactory — Refined Sugars 

 Demand Below the Average — The Brussels Convention. 



Specially wi-itten for The CUBA REVIEW by Wlllett & Gray, of New York. 



August opened with centrifugals quoted at 3.94c. per lb. for 96 test, and closed 

 at 3.92c. per lb. 



Beet root sugar opened the month at 9s. 9d. per cwt. f. o. b. Hamburg, 88 analysis, 

 and closed at los. 



During the month the highest quotation for centrifugals, 96 test, was 3.94c. per lb., 

 and the lowest 3.89c. per lb. 



The highest for beet sugar was los. ^d., and the lowest 9s. 8i^d. 



Refined granulated opened at 4.65c. per lb., and closed at 4.65c. per lb., the highest 

 during the month, being 4.65c. and the lowest 4.65c. 



It will be noted that very little change in prices occurred in August. The market 

 as a whole was extremely dull for both raws and refined, and this dullness led to 

 the decline in raws in the middle of the month to 3.89c., which was not fully recovered 

 until the beginning of September. 



The weather conditions for the growing crops of European beet and Cuba cane 

 during the month, and especially at the close, were reported unsatisfactory by experts, 

 giving a very marked strength to the European sugar exchanges under an active 

 demand both for consumption and speculation. 



Owing to a rather unusual shortage in the fruit crops in this country, the demand 

 for the refined product has been below the average and has kept the wants of 

 refiners for raw sugars much less urgent than was anticipated. Hence the European 

 markets have been allowed to advance to 19c. per 100 lbs. above the parity of our 

 market. Eventually, our market must respond with an improvement, also. 



Even with the drawback of a limited refined market, the sugar situation as a 

 whole must be considered satisfactory and capable of further improvement in prices. 



The Brussels convention, to which reference was made last month, has held a 

 meeting of its permanent committee, the result being that England's proposal to with- 

 draw was accepted, and the convention extended by the remaining countries until 

 September i, 1913. This action leaves England free to buy sugar from any part of 

 the world, whether bounty fed or not, but by further action England is prevented 

 from exporting into convention countries any manufactures containing bounty-fed sugar. 

 It remains to be seen what effect, if any, will be noticed in the general sugar situa- 

 tion after September i, 1908. Very much will depend on the sugar policy of Russia 

 as it may develop in the meantime. 



Cuba need not necessarily be specially influenced except that the present satis- 

 factory world conditions will be somewhat disturbed by the action of Great Britain. 



September opens with an upward tendency for both raws and refined. 



Sugar Prices at New York for August: 



Broken Line 1906 1 



Solid Line 1907 



MIGUEL de CARDENAS 



Statistics Regarding Importations and 

 Exportations through the port of 

 Havana furnished. 



P. O. Box 741 



Havana, Cuba 



