THE CUBA REVIEW 



SUGAR REVIEW 



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



Our last review for this magazine was dated September 13, 1911. 



At that time centrifugals were quoted at 5.75c. per pound 96 test basis. At this writing 

 they are quoted at 5.96c., the highest point reached, showing .21c. per pound advance. 



At that time beet sugar was quoted at 18s. 3d. and is now 17s. l%d. per cwt. During 

 the meantime, however, the quotations rose to 19 shillings and the market made many 

 fluctuations as follows : From ISs. 3d. to 17s. 6d., to 19s., to 17s. 3d., to 18s. 6d., to 

 16s. 10 1/2 d., to 18s. 4V2d., to 17s. 9d., to 17s. iVsd. at the close. 



The steadiness and advance in the New York market was the direct result of an ab- 

 solute scarcity of raw sugars for refiners' use and such small parcels as came on the 

 market were eagerly bought at almost any price. On the contrary, European beet sugar 

 is the subject of great speculation on the foreign exchanges and price varied from day 

 to day as influenced by the current reports relating to the outturn of the beet crops of 

 Europe. During all the time of the growing and maturing of the beet roots the weather 

 was unfaxorable throughout nearly all countries and the preliminary estimate of F. O. 

 Licht, given out on the 15th of September, was for a total European beet crop of 

 6,520,000 tons maximum and 5,855,000 tons minimum, or an average of 6,187,500 tons 

 against the crop last season of 8,100,000 tons, indicating a deficiency of 1,580,000 to 

 2,245.000 tons, a very serious proposition to confront in view of the usual annual increase 

 of consumption of sugar throughout the world, indicating that some countries, and par- 

 ticularly the United Kingdom, would be facing a positive forced cutting down of con- 

 sumption. No doubt, prices already reached have checked consumption to a very con- 

 siderable extent, so that the actual final shortage in crops will be counterbalanced by 

 this circumstance and present prices being raised to the parallel of those of 1898 when 



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