36 THE CUB A RE VIE W 



Sugar Review 



specially written for THE CUBA REVIEW by Willett & Gray, New York, N. Y. 



In our last review we called attention to the remarkably heavy demand for refined 

 sugars, which was experienced not only throughout our own country but in Europe and 

 the rest of the world as well. During the past month this demand has continued along 

 the previous lines with, if anything slightly larger volume due to the approach of 

 summer and the exceptionally fine fruit crops grown in the United States this season, 

 many of which were record-breaking crops, particularly strawberries, which is a popular 

 preserve in this country and uses considerable sugar. These excellent conditions have 

 had the tendency to send the market up steadily, and from 334c. c. & f. basis, quoted 

 in our last report, advances took place, with practically no reaction, to 3^c. c. & f. Ir 

 order to bring quotations up to this comparatively high level, refiners had to buy 

 enormous quantities of raw sugars and hence when the market touched this point it 

 was difficult to interest any of the refiners in offerings at a higher figure. In fact, 

 some ill-advised parties in an effort to push prices above the 3^4C. c. & f. basis purchased 

 some granulated, ostensibly for export, at a price considerably above what the sugar 

 could really be obtained at and the market became somewhat excited on the reports 

 of these sales at 5c. We called attention to the absurdity of paying 5c. net cash in 

 bond for sugar that could be obtained at 34c. a pound cheaper and advised of the 

 danger that such methods would have to the general sugar situation, which of itself 

 is very sound and does not need any undue forcing on the part of speculators. That 

 our opinion was correct in this respect showed in the general easiness of the market 

 since that time, sugars now being obtainable at l/16c. below the top price of 3^c. 

 c. & f. and the demand for refined has practically ceased. The real export demand 

 continued quite large up to the end of July when it stopped short and refiners' sales 

 for August shipment are very, very small when compared with the large sales made 

 during the first six months of fully 550,000 tons. 



Refined naturally followed the advance in raw sugars and at every advance the 

 country took quite large lots of sugar and, at this writing, Federal and Atkins are 

 quoting 7.00c. with the other refiners at 6.90c. and the demand is generally quieter. 



In our opinion, a period of quietness for the next two or three weeks will be 

 best for the general good and any undue attempt on the part of speculators to force 

 prices unduly will only result unfavorably. 



New York, N. Y. 

 July 31, 1922. 



Revista Azucarera 



Escrita especiaUnente para la CUBA REVIEW por Willett & Gray, de Nueva York 



En nuestra ultima revista llamamos la atencion hacia la grande demanda por 

 azucares refinados, lo cual no solo tuvo lugar por todo este pais sino tambien en Europa 

 y hasta en todas partes del mundo. Durante el mes pasado ha continuado esta demanda 

 de la misma manera con un ligero aumento, si es que ha habido cambio, debido a 

 acercarse el verano y a las buenas y excepcionales cosechas de fruta producidas esta 

 estacion en los Estados Unidos, muchas de cuyas cosechas no habian sido nunca tan 

 grandes, especialmente las de las fresas, que es una fruta muy popular en este pais 

 para conservas y en que se usa muchisima azucar. Estas excelentes condiciones han 

 tenido tendencia a que mejorara el mercado constantemente, y de la base de 3^c. 

 costo y flete, cotizada en nuestra ultima resena, tuvieron lugar aumentos de precio, 

 verdaderamente sin reaccion alguna, a 3}ic. costo y flete. Para que las cotizaciones He- 



