Evening bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1895-1912, 1910-12-08
CROP
Estimates GROW
Experts Give Out Figures On
Beet Sugar That Are
Startling. 'm


Nov. go reviews matters of interest
TO the sugar trade as follows:
RAWS.-The notable features OF
the week is the large increase in the
estimates of the European beet sugar
crop by all the leading crop experts
The Factories" considered the
NEST conservative OF all, places the
crop at 1880, 600 tons. and is only ex.
ceeded by Otto Licht. who says L..
953, 900 tons. f, o. LIGHT estimates
1876. 900 tons. With these large crop
estimates In hand II was to be expect.
ed that European prices for beet SUI.
gar would decline considerably. but
in fact prices barely dipped below
9s.. and recovered and remain sta
tiOnary at 9s, confirming the conclu-
sion that IS. {. o. b. Hamburg Is the
virtual cost of production, and any
decline from that price is quickly re.
covered.
Whether n big crop like this may
reduce the cost of production Cd. and
permit decline to SIS. Cd. remains
to be seen. but even at this lower
price for beet sugar the Cuba plant
or can figure profit on cost and
still sell to the United States at be.
low the European parity.
Sales Of the week comprise 5000
tons Javas at Hreakwater at los. C.
|. f.. reducing quotation to 3.S7c. The
next sale OF $500 tons Cuba Centrlfu.
gals for prompt shipment from Liver
pool at 3.S9c. raised quotation to
3.S9c The remaining sale CT the
week of 1000 barrels Of Louisiana
clarified sugar for refining at 3.9Oc.,
basis gGo test. restored the quotation
to 3.90c.. the same as last week. Sell
ing Louisiana clarified for refining Is
somewhat unusual, as these sugars
generally go directly into consump-
tion. Possibly the quantity made Is
larger than the grocers can handle
nj once, and the fear of decline In
general values little later induces
sales for refining.
About 1000 tons Jayas Mt Break
water remain unsold and held above
the market. About 10000 tons centri
fugals In warehouse unsold and held
for 395c About 5 600 tons Cuba cen
trifugals for shipment from Liverpool
unsold and held at 3.95c. These com
prise remaining offerings at the nom
ent of old crop sugars. New croI
! Cubass are offered at 2hc. Q. & {
(3.Gic1 January shipment. 2 alto. C
! 3 T. February.March but buyers
show no interest. New crop Philip
pine Islands increases s04S and early
deliveries February shipmenD arc
offered at 2Ac. c, & I. $50 test basis
ecual to 1.99c. c. T. for Cuba cen
tifugals, 80 basis (3.35c. per pound
! duty paid. These sugars look cheal
Tor April-May arrival, indicating somt
sellers expectation of hitherto un
known low prices for those months
delivery.
Rains have recently fallen freely II
I sections Of Cuba where most needed
/ The first estate TO commence grind
ing as mentioned in Government re
port will probably be the Franchises
Central on December first. Louisiana
crop outturn reports are somewha
contradictory, but our report here
with shows largely increasing re
CENTS, largest week of the season, o
corresponding week last year, indical
ing final outturn about as our esti
mate. The weather Is Terorted gen
orally favorable for all crops of Yves
Indies. Hawaii. India and Philippines
the latter Is responding to5free dut
privileges rapidly. India gives prom
Use of slightly smaller crop owing Z
reduced cane areas, Total import
! into India are now about the same a
last year. Demerara crop reports re
main nessimistic. t-.,- -g.
See New Japan Sugar Tariff schec
ule herewith which will increase d'
ties about 4O% on the principal grade
of import next year. For Unite
Kingdom trade see Statistics and ma
ket letters herewith. Russian GRO
. estimates are Of special interest. ON
Russian special coTrespnpdence give
two crop estimates to add to the otl
ers.
The enormous Russio1 crop II
crease is really the cause of niue
of the prevailing depression, but 1t
well to note that stocks IN Russia .
the beginning OF the crop year wer
reduced 10 $4,000 tons against norm;
stocks of 100000 to 100000 tons. an
that exports to convention countrie
are limited TO 100000 tons.
: Non convention countries in 1901
received from Russia 10000 tor
against 250,0O0 tons in 10000.
Larger receipts from Russia
] 1901 may displace some receipt
from convention countries. German
sent about 100000 tons in 1901
Austria 100000 tons, France 10000
tons. but these were not material
larger than In normal years, Russ
can always hold in reserve a lare
surplus production for consumptio
in smaller crop years.
Receipts at the United States Fol-
( Ports for the week amounted TO p
O46 tons including the first arrival {
Cubas from Liverpool, and, first a
rival of new Louisiana crop fro
New Orleans.