Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1912-07-11
MARKET SCARE
ON SUGAR STOCK
STRIKES EUROPE

Willett & Grays Journal for June
y reviews the raw sugar market in
part as follows:
i The week under review may be
Iclassed as European market scare,
pure and simple, due 10 the improved
outlook for worlds supplies. and the
effect on this side has been the check
ing Of the beginning Of an improve
mtnt here by the payment of l-32c.
per ID advance on one day, which has
been entirely lost and values returned
10 the previous 1-2c. c. & f. basis.
with q movement to lower level.
The special weak movement in Eu
rope began from the quotation of last
week when beet sugar was lis. 8 3-4d.
The first days decline was / i2d. to.
lis. / Id The second day saw 2 Id
decline to lis. Cd The next gave
] l-2d more TO lis. led. on Mon
day. lid more on Tuesday, Sd. more
Wednesday to los. IL lid.
Today the quotation is los. 9 3-4d:.
showing a full shilling decline for week
C22c per lb) and bringing beets at
Hamburg to parity of 4.2Sc per ID.
for centrifugals at New York against
nominal values here of 3.S3c per lb. =
The decline in Europe during the
past four weeks has amounted to Is
> lid on prompt beet and 10 I'D
on October December beet
Cane Javas Sympathetic.
Cane Javas also show a sympathetic
movement of cd. decline to lis Sd.
which is equal TO 247c. net c. f. & i. to
Liverpool against Cubas at 2.52c. c. f.
& j. to Liverpool. bringing Jayas below
the parity of value of centrifugals in
Cuba for shipment to the U. K, thus
leaving remaining supplies from the.
Cuba crop at the disposal of the u. S.
refiners, and new crop Java sugars
available for the u. X. in place of
Cubas
Javas for the U. S. are approaching
closer to the parity of Cubas and may
enter into competition a little later on.
but not now, los. 3D. being asked for
July shipment (September arrivaU,
equal to 40Sc landed
The Cuba crop continues to make
progress toward bumper crop of l.
$4,000 tons or more, Notwithstanding
the rainy season and local. insurrec- /
tons
European beet crops show favorable
progress in all directions and, no doubt,
has. much to do with the weakness of
prices abroad.
The outcome of sugar legislation is
so uncertain that it affects the value,
particularly of the large stock of Phil
ippine Island sugars Still unshipped.
Sellers are anxious to realize and buy
ers do not respond Offerings of sug-
ars at 3.10c. per h., basis .SS degrees.
for shipment not meeting business, bids
of &c. per Id. are solicited. Buyers,
however, limit their possible buying to
nearby cargoes on account of tariff
uncertainty
Unable to Operate.
Many refiners in Germany and Aus
tria are unable to operate for want
of raw material pending the harvest
ing of the new crops There is a stock
of Hungarian raws at Fiume, but being
declared for export, can not be used
at home, and of the 81 900 tons beet at
Hamburg there are 1880 tons Ger
man sugars which German refiners are !
seeking permission to reimport.
Such apparent deficiencies in sup
plies cause the premium on prompt de- /
liyeries, which will disappear when new !
crop sugars are available
1t is well to note that new crop beet |
quoted at SIS. Cd. is the parity of 4.04c. |
for centrifugals, and if we should be !
to import full duty sugars /
in quantity later on our market should :
rise closely to that parity. But if we t
can get along with privileged sugars |
the limit of decline here should be to |
about SAC. less or to 3.70c. for 60
degree test, with Europe remaining !
firm. There is a possibility, however, /
that we will need a few Javas this
year, perhaps not enough to bring the
two markets together.
BELIEVE Wild CTnMhHu