The Hawaiian star. [volume] (Honolulu [Oahu]) 1893-1912, 1905-07-08
THE WORLDS
SUGAR MARKET
REVIEW OF THE SITUATION BY
THE LEADING BEET SUGAR OR
GAN OF THE MIDDLE WEST.

The American Sugar Industry and
Beet Sugar Gazette, in its issue Of
June 20 gives the following review of
the sugar market:
The discourag cement which has been
the characteristics of the worlds mar
kets for several months still continues.
The decline of prices seems even to
become more pronounced. STILL the
producers are not suffering from this
state of affairs as much as it may APP
pear at first sight. The real sufferers
are the merchants and the refiners,
and the latter are the ones who were
in the first place to blame for the al
most phenomenal rise in prices which
preceded the present decline. As a
rule, the producers profited by the high
prices, so that they can now view the
situation with equanimity. In Europe,
for instance. nearly all raw sugar fac
tories disposed not only of all their
stock on hand at good prices, but they
were also in a position to sell from
one-half to one-third of the new crop
at very acceptable rates.
A pronounced low range of prices
having followed the high quotations,
the raw sugar men can now very well
afford to look on and wait for the fur
Their development of the market. In
the meantime spectators, commerce
and the refiners have had to bear quite
heavy losses, and the report period for
this review has not changed the situa
ton in any respect. Purchases for flu
ture delivery, closed a month or so ago
at the then prevailing prices, are beir(
rapidly liquidated, which, of course,
tends to further depreciate prices. To
all this come the reports of the pros
poets for the coming campaign, which
now make it appear that the acreage
in Europe will be at least 20 per cent
more than that of last year.
! In this connection, however, sta
tistical review by the official organ of
the Central Society for Beet Sugar In
dustry Germany is of interest. The
paper says that the condition of the
visible worlds supply admits OF the
conclusion that on September /, at the
utmost, 100000 tons of sugar VIII. pass
into the new campaign, giving the fol-
lowing figures of the visible supply for
the years named:
1885,. 100000 tons 1902. L, 92S, 900 tons
1904. L. $4,000 tons 1901. i, O64, 600 tons
1908. 2, 100000 tons 1907. 727OO0 tons
These figures show that the visible
worlds supply alone, in order to reach
the normal figure of 100000 tons
makes an increased production OF
about 100000 tons requisite.
Continued realizations, unfavorable
reports from foreign sources and unex-
pected deliveries caused further
. weakening of prices in the English
market according to reports up to May
81, though during the early part of tie
report reriod there was a slight recov-
ely from former low quotations Cash
deliveries of raw product to refineries
were extremely limited and for Sec
ond products there was no call at all
The French market was subject to
many fluctuations during the second
week of the report period, closing with
June 2. During the entire period the
market was weak, giving way at the
close to a slightly better feeling. A
somewhat better demand for refined
was the feature at the close Of the
perrod.
In the Austrian market the situation
remained unchanged during the entire
period, and was weak, because there
were no offers from producers. Quota
tions fiuctuated under the influence O
reports from foreign markets, anC
closed lower Refined We're entirely
neglected
reports from Amsterdam state TIM
the market there was in somewhat bet