The Hawaiian gazette., 1910-02-15
The Sugar Market

early. We give elsewhere some impor-
tant statistics relating to Cuba.
From Europe, as already mentioned,
cables came irregular from day to day,
indicating a hesitating uncertainty to
the beet sugar speculation, but finally,
turning strong, with increased demand
and sharp advance, which advance is
maintained at the close Beet crop es-
Inmates were raised by F., o. LIGHT for
Europe to 6,1s5,000 tons, while Otto
| LIGHT also, raised his estimates 10000
tons to 6,l55,000 tons. The factory es-
| Inmates remain unchanged at 6,045,000
tons. The average of these three ex-
| pert estimates is 6.12S,300 tons for the
! European beet crop. against last sea-
son Is outturn of 6,517 900 TONS.
| The production in Germany and
| France in December was somewhat
larger than expected, and is used TO
explain the reaction noted in Europe.
+! In France we have reports of floods
which promise an injurious effect on
the crop of winter wheat, with pos
sible result that wheat fields may be
plowed under and the ground sown with
beet seed in place. The present crop
| in France is estimated at only S25, 900
tons sugar, while in 1905.06 crop Of
! 1,0s9,6s4 tons were produced. This
opens the way for increased sowings in
France this season without exceeding
the former crop.
| Renned.
| The advance to list prices failed to
materialize during the week except in
the case of some reiners short of sup
plies owing to the continued irregular
ity of the raw sugar markets, and at
the close there is no change in sight,
although an improvement in prices
must naturally follow Improvement in
raws. The withdrawal business under
former contracts has been quite large
and satisfactory TO refners, and the
next change, when it comes, should be
firm quotations at present list prices,
which are ten cents per 100 pounds
above actual business basis. 1t is UNI
derstood that the lowest price for gran
ulated is 4.95c. less l per cent.
/ The fact that the domestic beet
sugar production is rapidly going into
consumption leaves larger opening in
the immediate future for cane refined
output; prices follow the New York
market at the usual difference.
The Pacific Coast refneries are espe-
cially firm in their pretentions and an
ticipate an advance in the near future.
4 Raws are now arriving in sufficient
quantities to meet requirement for melt
ings, enabling refners to catch up some
what with orders in hand.
4 The Previous Week.
The week ending January 90 was re-
dictionary, centrifugals declining from
lie. to 4 .0Sc., but with intermediate
: high price of 1 lie. for prompt ship
: ment and including quite large transac-
lions on the same basis of 4.17c. (2.s1c.
lie. g. f.), for aJnuiry, February and
March shipments of Cuba sugars, es-
timated sales amounting to 100000
: bags, after which the market became
more quiet, with resulting small sales,
at declines for each sale, finally clos
ing at 4.0Sc., with the tone and tend
ency in favor of buyers, principally for
the reason that these large purchases
filed up reiners' wants for some time
to come leaving the market without
support and, also, under the influence
of reaction in European beet sugars.
The sales of the week include some
Porto Ricos for shipment on same basis
as Cubas.
A severe storm early in the week in
terrupted wire and railroad communica-
; ton, and had something to do with
, starting the downward reaction which
. apparently is not yet complete.
, Refiners supplies already secured do
I. not contain many centrifugals for
March and April shipments and none
g beyond, so that after the present de-
preston has run its course, fresh ad.
: vance movement can be counted upon
with certainty.
Buyers showing Indifference except
: declining basis, limited business to very
small amounts and sellers realized this
0 fact TO the extent of Withholding free
1 offerings on the market. At the close
t 23-4c. c. & f., 96o test are generally
t asked for shipments while buyers were
not disposed TO 60 on at the last sales
S price of 2.72c. c. & f., but pretended
$ . Use. to 11-l6c. C. & f., with thu
r market trend in their favor.
e Increased arrivals during the week
e notwithstanding increased MEETINGS
5 raised the stocks of the four ports Il
Y s9.145 tons, against 66,599 tons las
: year, indicating the more rapid produc
n ton of sugars in Cuba.
: The first cargo of new crop Hawaiian
: sugars, 1859 tons, arrived in New Yorl
e leading eventual arrivals from thii
5 crop of say of about two-thirds of tn,
t entire crop of 100000 tons at the At
;. lantic ports. the balance of this croI
T going to the Pacific Coast.
n Louisiana domestic sugars, also, cam,
( in to the extent of 1876 tons.
y From now forward United States sup