The Sun.
London, England, 1846-12-23 00:00:00

PROBABLE PRICE OF SUGAR.

We have already more than once directed attention
to this interesting subject ; and, so far as experience
has as yet gone, our prognostications have been found
to be pretty nearly correct. During the ensuing sea-
son, it is not likely that sugar will fall lower than an
average—say of 30s. per cwt. in bond ; and had the
past fruit season in the mother country been more favour-
able, it is not improbable that the price might have ruled
even a shilling higher. Lower, during the period of
the 7s. differential duty, it is certainly not likely
to go, as that would be to suppose that the present
price in the continental markets would fall, which under
the circumstances is almost impossible. Thus, calculat-
ing the prices on the continent for brown at 225., and
yellow 255., they will not be sold in England under 435.
and 4Gs., and our planters obviously need not sell
similar qualities under these rates, which leaves them
295. and 325., liable, of course, to the various expenses
of transit. The following, with which we have
been recently favoured, puts the matter in a
very clear light; and may be relied on, as the
opinion of a party capable from his position of arriving
at a just conclusion :—" Taking 50s. 6d. as the average
price of sugar in the British market since the reduction
of the duties on British plantation sugar to 145., it
follows from reference to actual sales, that 295. Id.
per cwt. has been the price lately received by the
producer on the average. Of this price 9s. Id. has
been the result of protection, which take away, and
(other things remaining the same) 19e. 10d. will be the
future price of sugar; that is, the grower will receive
nearly 15.22d5, say two-thirds of the present price
only. Hence, to preserve the present ratio of profit (or
loss) the cost
of production must be reduced 33 per
cent. or one-third. Now, in the year 1848, when the
crop which we are now about to plant will come to
market, there will be after July 5 a protection of 4s. 6d.
which will go to aufament the price of slave-grown sugar
just admitted to competition with ours. F,r the last
year foreign slave-grown sugar—say Porto Rico,
similar in quality with ours, brought on the average
145., but for several years previous only 12s. could be
obtained for it, and at that rate it was found that the
commodity could be profitably grown by slaves, and
new lands were continually brought under cultiva-
tion. Assuming, however, the price to be 14Q., and
adding the differential duty of 4s. 6d., it results that
foreign sugar will rule at 18:. 61 for our quality in
the British market. or come into competition with ours
at about the price British plantation has been va-
lued at for the year commencing July 5, 1848. If from
any cause foreign sugar advances beyond the estimated
price., the price of British plantation will also be aug-
mented in like sum; and so, on the other hand, if the
price of foreign sugar recede to what it was in 1845,
and previously, the price of British plantation will be
lower than 183. 6d., or less than two-thirds of the pre-
sent price, will be realised to the grower."—Jamaica
k Times.