The daily herald. [volume] (Honolulu, Hawaiian Islands) 1886-1887, 1886-11-30
TUESDAY, NOVEMBER 80, 1886
THE SUGAR MARKET.
A Ray Ct Hope.

The weekly review OF Wlllett &
Hamlen, dated New York, November
4th, has the following concerning the
statistical position and prospects of the
Sugar trade: "As October Ist is the
close of all crop years, it appears that
the consumption Of Sugar in the
world for the twelve months October,
1885, to October, ISS6-was II4.5 5oz
tons more than the production of the
world, plus a surplus Of invisible stock
which is conceded to have been in
second hinds on October !, 1885, in
excess of such surplus stock Of October
1, 1886, Of at least 1000 tons; that
is, the actual consumption of the year
was 3I4,4oz tons more than the pro
duction. The increased consumption
of sugar for the coming twelve months
should be at least 10000 tons, which
might be apparently increased by Ioo,-
900 to 10000 tons if the sentiment Of
dealers changed 10 carrying larger
actual requirements of the coming
twelve months are at least 464, 900 tons
and possibly 6oo, 900 tons more than
the production Of the past twelve
months. Against this We have
an estimated increase of the Beet crop
Of $4,000 tons, OF the Cuba crop OF
10000 tons, of the British West India
crop Of 10000 tons, of the Brazil crop
Of 10000 tons, and deficiencies in
Louisiana crop Of 10000 tons, and in
Mauritus and some other crops of
say 10000 tons, and 10000 tons OF
PHILIPPINES sugar less ahoat for United
States of last crop, but included IN
stocks on hand. The sum Of these
figures gives estimated increased pro
duction for twelve months of 44o, 700
tons against increased requirements OF
464. 900 tons and possible requirements
OF Goo, 1000 tons. There is great doubt,
also, about Russia allowing bounty
on exports, the absence Of which will
be equivalent to reduction in pro
duction of 65,ooo to 100, 900 tons o.
sugar for the consuming countries
Under these conditions there would
seem to be no good basis for the mos
extraordinary depression now existing
in the sugar market, which has broken
the price of Sugar to lower than the
lowest prices Of the century, and nearly
Ic per pound below prices OF yea
ago, when the actual statistical position
was much worse than the statistica
outlook is at the present time. The
improvement noticeable in genera
business, and affecting all articles o.
merchandise except sugar, cannot
much longer withhold its influence
upon the value of an article of such
prime necessity, and an improvement
Of at least &c per pound can be conf
IDENTIFY looked for during the coming
twelve months. The first half of 1885,
will show large increase in consump
ton Of foreign sugar in the United
States. There has been no further de.
cline during the week, and sellers are
generally rather frmer in their preten
sions, in view Of the depth to which
prices have already been depressed.
Home consumption is fairly satisfac
tory, in view of the marketing of the
domestic crop now beginning. Export
demand has virtually ceased with the
enforcing of the new bounty conditions
from November Ist Stock in all
hands is reduced 1874 tons for the
week. Beet crop estimates remain
unchanged, by M. LIGHT, at 3So,oo
tons over last year S. The New York
stock contains very little of high grade,
being made up mostly OF low grade
sugar, which should rapidly diminish
when the demand for it begins. Cost
and freight business is neglected.