Evening bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1895-1912, 1912-02-24
Why SUGAR PRICES ARE HIGH and "
Why WORLDS MARKET IS firm

all over the world have been pros
sugar experts Of the world that II Is
only since the existence OF this Brus-
sells agreement that the cane sugar
industry has become so prosperous,
and II II had not been for this agree.
ment, not only would the cane sugar
industry not have developed, but q
good many cane sugar estates would
have gone bankrupt This European
bounty system. and the consequent
over-production Of sugar, depressed
the prices all over the world. and even
in the United States, where always
countervailing duties had been levied
against oil bounty-fed sugars. ..'.
When the expiration of this Br,is-
sells agreement, on September 1, 1908,
drew near, the European nations ex-
tended the same for another term OF
five years. until September !, 1913
and allowed Russia to become a par
tial member, with the proviso that
they export only 100000 tons per an
mum to the western countries OF Eu-
rope. After Russia would have ex-
ported 100000 tons of sugar In any
one year, II would not be allowed to
export over its western frontier an
other pound Of sugar.
European Production.
The total production OF sugar In
all Europe this year is placed at
$3.50, 900 tons (of 2,240 pounis), as
against 8,lO5,l26 tons last year, or a
shortage of 1.S55.0OO tons. On ac-
count of this shortage, the price OF
sugar all over the world has increased
a great deal. England being the
largest consumer of sugar in Europe,
and seeing the difficulty of keeping its
sugarbowi filled, made application to
the Sugar Convention at Brussels, In
session at the present time. that Rus
sia be allowed to export during the
present year 100000 tons In addition
TO its allowance OF 100000 tons.
From telegraphic advices II seems
that all European nations seem to
idNoi IhSlSioCs WIN tte tACtDtlOU
Of Germany. who Is willing to allow
an increase OF 10000 tons only, pro-
vided that 'tfe Brussels Convention
receive another extension Of Ave
years. with all European countries ad-
herring. The reason why Germany is
SO strenuously opposed to allowing q
greater increase in the exports from
Russia is the fact that Germany alone
which heretofore has been the largest
sugar exporter In Europe. has a Short
age OF l.132.569 tons of sugar this
year, and consequently It will be able
TO export but a small amount of sugar
this year, and feels that 1t Is entitled
to higher prices Tor what little suga,
1t has for export. .....
Final Agreement. ,.......a.' II
From the latest advices II appears
that the nations will agree to make
certain concessions to Russia and that
the Brussels Convention, with all pow.
ers adhering. will be extended for an
additional term OF Ave years after
September !, 1913 The concessions
will be as follows: ..
Russia will be allowed to export
10000 tons additional during the
present year, ending September /
1912. making total OF $4,000 tons
OF exports; 100000 tons additional for
the year ending September !, 1919
making a total for that year OF 3OO, OOO
tons; and $4,000 tons additional for
the next Ave years. making In each
OF the remaining FIVE years total OF
225.000 tons of sugar exports.
As has been said. the existence OF
the Brussels Convention has been OF
immense benefit to the cane sugar In
dustry OF the world and II the same IL
going to be extended for another five
years, with the slight increase II
$4,000 tons of Russian exports, Il will
mean great stability to the sugar In.
dustry In the coming years. An In
crease of $4,000 tons OF sugar Is q
very small matter. when II Is consid.
cred that the worlds increase In con-
sumption OF sugar on the average
amounts to about 100000 tons at the
present time. which average is con-
tinu0usly increasing, because II IL be-
ing realized more and more that sugar
Is not an article of luxury. but an
article of food In the most concen.
trated form.
The 100000 tons OF sugar addition Il
which Russia will be allowed TO ex-
port this year will be more than of.
set from present Appearances, by the
decreased receipts expected from
Cuba.
Cuban Conditions.
At the opening of last years cam
paign In Cuba, II was estimated that
Its crop would be 100000 long tonf
Of sugar The actual Outturn was
4S3,45l tons, as against 1.S04.34s
tons the preceding year Last sum
mer there were many experts Of the
opinion that this years Cuban croI
would amount to 100000 tons. hui
conservative estimate made two
months ago fixes the amount OF THU