The Hawaiian star. [volume] (Honolulu [Oahu]) 1893-1912, 1912-03-01
NORMAL SUGAR
PRICES UNLIKELY

IUOIO UWGluEEI
Under date of February IS, Wil,ett
& Gray's offers an explanation OF the
recent high prices Of cane centrifu.
gals, and forecasts the decline which
has occurred during the past few
days. However, there seems to be no
likelihood of pr'co going as low as
normally throughout the coming year.
The analyses follows:
Last week centrifugals 90 deg. test
were quoted at 44S5c. per ID. This
week the quotation is 4735c., showing
an advance for the week of .25c. per
/ ID. The reason for this continuation
of the upward turn noted last week
is found in a general change of pre-
vailing conditions at home and abroad
Under an expectation that activity
might not come so soon as it has in
the business of refined sugar our re-
finers neglected to purchase as freely
as they might have done at the ex-
IRENE low point for Cuba sugar, 9
1920. to 1-16c. per ID. c. & f., SO
deg. test, An active demand for re-
fined, however, set in to fill the de-
pleted stocks throughout the country
and necessitated the buying of raws
! to cover the large sales of refined and
hence the advance. Other conditions
contributing to the rising market were
corresponding advances in the foreign
beet sugar market stimulated by the
decreased receipts coming forward
from the Cuba crop. An inquiry as
to the cause of this delay brings reply
from our correspondent indicating
that It is still possible to make up
the present apparent deficiency If
good weather prevails during the rest
of the season, therefore it would seem
ass If the recent values of soc, to
.635c. per 100 lbs. below Europe, the
planters may possibly be holding back
sugars on the plantations, with hope
of better prices before placing them
at shipping points. In either case the
trend of the market has turned up
wards and the effect of the general
universal shortage Of sugar is being
felt again in the United States, al
though not nearly to the extent here
as it is coming to be fe.t again abroad.
1t is evident as we have before this
time frequently stated that normal
conditions of prices can not be looked
for during the present campaign.
Just at this writing We have receiv-
ed by cable an official weather report
/ from Cuba stating that it IS raining
throughout the island and interrupting
grinding, causing loss of time in
making the crop, but on the other
hand, improving the spring cane for
later grinding if the length of the sea
son permits, therefore, the total out
put of the crop is still problematical
Considering the short supplies fol
the United Kingdom this campaign
we inquired of our friends there, as
to their probable requirements OF
Cuban sugars and received their re
ply by cable estimating 100000 tons
which is rather smaller than generally
anticipated.
The Brussels Convention has finally
reached a conclusion after much dis
cussion, and it is not a conclusion
likely to relieve the short supply stu
alton very much. Only 100000 tons
extra is allowed to come out of the
bottled-up sugar supply in Russia dur
ing 1912, and apparently provision hal
been made for only 100000 tons above
the 100000 tons yearly limit, to come
out at such time and in such quantit!
as the situation at the time may cal
for during the following years. Tn,
convention has been renewed for fiv,
years, from September 1, 1913, pei
hitting Russia to export 100000 ton
annually, as before. The action of tn
convention has apparently been dis
TcoGnted by the prices now current il
Europe, and operators there are nov
more particularly interested In tn
Cuba crop reports.
Fewer people would jump at con