THE CUBA REVIEW 



SUGAR REVIEW 



Specially Written for The Cuba Review by Willett & Gray, of New York 



Our last review for this magazine was dated April 17, 1011. 



At that date centrifugals were quoted at 3.S6c. per pound duty paid. To-day's valua- 

 tion is unchanged at 3.86c. per pound, although in the meantime, under small fluctua- 

 tions, centrifugals have sold at 3.92c per pound and at 3.80c. per pound. 



European beet sugars were then 10s. 9d. and are now 10s. 6d., having fluctuated in 

 the meantime downward to 10s. 2%d. on the 3d inst., recovering since to 10s. SVid. on 

 the 11th inst. and closing at 10s. 6d. for May and June and 10s. 7V2d. for August, with 

 Java sugars at lis. 6d. against lis. 9d. April 13th, selling in the meantime at lis. lO^ijd. 

 and lis. 4:V2d. 



The quotations given herewith indicate the fluctuations and course of the market dur- 

 ing the time under review. These circumstances resulting mainly from the varying 

 reports cabled to Europe regarding the prospects and size of the Cuban crop, which 

 estimates varied largely from different sources, as such lower estimates made in April 

 or May have frequently proved to be considerably less than the final outturn of the 

 crop, we have thought it best to confine our estimate to returns from estates as they 

 come to hand. Our latest returns at this writing, we give herewith, indicate a crop in 

 excess of 1,550,000 tons, which appears to be the accepted estimate here at the present 

 time. The final result, however, depends largely upon the length of time which the 

 present factories running can use to complete their crops with the amount of cane they 

 still have in the fields. 



Cuba Central Outputs. Havana, May 3, 1911. — Since April 26tli the following centrals have finished 

 their crop, with outputs as stated, compared with their production last year: 



Central District Output — Bags 



Reforma Caibarien 97,000 



Santo Domingo Matanzas 52,000 



San Ignacio Matanzas 43,000 



Santa Lutgarda Sagua 38,000 



San Isidro Sagua 27,000 



Conchita Matanzas 124,991 



San Ramon Havana 21,500 



Jatibonico 123,000 



Feliz Matanzas 58,975 



San Agustin Caibarien ■ 90,809 



Trinidad 57,984 



Triunfo Matanzas 14,042 



Elena Matanzas 10,500 



Francisco Santa Cruz del Sur 127,000 



Total bags 885,801 998,124 



showing an average fallshort of 11 14 per cent. 



(It will be noted that these centrals are located in nearly all parts of the island, except the east, and 

 that the outturns vary from 39 per cent less to 8 per cent more than last year's, the average _ being 

 11% per cent fallshort. If this percentage is applied to last year's production of 1,804,349 tons, it will 

 give a total crop this year of 1,596,849 tons. — W. & G.) 



Regarding the immediate outlook, the present price of centrifugals in New York is 

 .35c. per pound below the parity of European beet sugar, which difference should gradu- 

 ally be closed up as the season progresses and it becomes evident from the short supplies 

 of Cuban sugar for the remainder of the season that a certain amount of full duty- 

 paying sugars, either Javas or beets, must be imported to fill the requirements for con- 

 sumption of the United States, These requirements are variously estimated at from 

 200,000 to 300,000 tons, according to the outturn of the Cuba crop and the increase or 

 decrease of consumption in the United States. 



F. O. Licht's estimate of the European beet crop gives Germany 2,602,000 tons ; Austria, 

 1,570,000 tons ; France, 740,000 tons ; Holland, 225,000 tons : Belgium. 285,000 tons ; Russia, 

 2,115,000 tons; other countries, 590,000 tons or a total of 8,127,000 tons. 



The Java crop promises to be about the same size as last year — say, 1,230,000 tons. 

 Thus far this season no Java sugars have been purchased by our refiners, the sellers' 

 views being at the parity of 4.07c. per pound laid down for July-August shipments, while 

 buyers' views are not above 4c. per pound at the outside. 



From other countries very few changes are reported in crop estimates. 



Our refiners are well suppHed for their immediate wants, but will be obliged to pur- 

 chase, freely for requirements forward from June. The later deliveries for June are 



(To Be Continued on Page 34) 



