The Hawaiian gazette., 1911-11-21
PHENOMENAL YEAR
IN SUGAR MARKET

Remarkable conditions in the sugar
market for the past few weeks are
commented upon by Willett and Gray
in their Sugar Trade Journal for Mo-
vember 2. Under the heading of
"Raws'' they say in part:
The present week marks the usual
annual return from prices recently paid
because Of scarcity of home grown
sugars, to the usual difference below
European parity when homegrown
sugars became obtainable.
Last weeks quotation for Centri-
fugals at 5.735c. per pound, which was
.0s5c. per pound above the European
parity, is now reduced to 5.SOc. per
pound on sale of 1900 tons Java
sugar in port, or say .S4c. per pound
below the European parity, and Sac.
per pound is the advantage in. duty
given to Cuba by her reciprocity treaty.
The year 1910 was somewhat phe'
nomenal in respect to values In the
United States below Europe causettby
the large crop Of Cuba that year. Early
in the season Cuba Centrifugals sold
at, ct one time, May %, :99c. per pound
below European parity, while toward
the close Of the year the markets for =
time were at parity, but the yearly
average of Centritugais for 1910 was
.526e. per pound below Europe. ~
1t win be interesting to follow this
parity through year like the present
when a decided scarcity of supplies
exists for European consumption OPP
posed by an apparent nearly sufficient
supply of duty favored sugar for the
United States consumption, if not inter
fered with by competition for Cuba
sugars from Europe, which latter is a
possibility.
European markets still maintain
comparatively high level for the season
of crop making Beet sugar huctuated
for the week within very moderate lin
its for the speculative markets.
European crop news of the week is
unimportant and no new estimates
made. The notable feature was the
calling together of the Brussels con-
vention on October 20 to discuss the
| application of Russia for an increase of
| its export limit. The convention re-
ceived the application favOrably, but
adjourned to December to give the
| delegates opportunity. to obtain specific
instructions from their governments.
There is difference of opinion as to
| the final outcome ON account of the con-
flicting interests involved The United
| States is interested to the extent of
knowing the effect of compliance or
non compliance with Russia's demand,
upon the Cuban situation.
The only business of Importance here
during the week was the two sales
made at reduced prices, the first of
$500 tons Philippine sugar nearly due,
at four and quarter cents per pound,
So test basis, and 5000 tons jaws in
port, at 5.30c. per pound, 96 degrees
test, both bought by the Federal rein.
cry, which is now closed temporarily.
The sale of the Philippines was com
paratively low by reason of only a
limited demand for low grade sugar, Ia
be worked in connection with Centri
fugals.
New crop Cuba Centrifngals of EARL
est deliveries (January) are offered al
three and a half cents c. x 4. (4,S6e.)
and February March at three aud sew
en-sixteenths cents e. +. (4.eOe.).
During the week bids OF 3.40e. e.
T., or a,3Oc, I, o. b., were refused, prob
ably from European buyers
oar rehneTH thus far show no inter
: est Ia future supplies,
Louisiana deliveries 10 renners nudel
contract have been making ~ higher
basis than ihe local market afforded
otheT sellers November deliveries 81
these sugars under contract win b. 81
los per pound undef New York quo
talion.
JaYas haeai hRYs boon oaedng b
hasiH ~ 6A0e per pound landed, bu
in oiieF % sell lower must hf iakeH
/ Philippines feI arrival afe Hiill ~ b
! ma ana eve ~ Hnrefinin YnlHe for ih
I frnfon ihm Irhnnls afs ofef npppiie'
I aiih lau madn
Table noas ffim fuhH D ail mpn
faFeuble ~ ihe eIop ihan IesssilI
lIfnanea
lemsfaH rIQp tHgaff aff 80 eHfffa
~ lfhfeH, pafllF ~ 3 tHHf'if 3
NflFM fnaH 80 NfHHW FlilWfHl
800 nHilaaf = taHffHf iNNaH -.
i q eefnafl lhHesaf ~ iine ~
Naf.l ~ y ta8N aaiiaH ~ Wfafa
Z sIiH
30 faflsii11 n fsne nlgs ~ An.
AiF1 iAEH AFlfINt hllsif ilff'l