Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1912-10-26
SUGAR PRICES
Will DECLINE

According to W1lett & Gray, the
worlds prices of sugar the coming
season are bound to average much
less than for two years past, no mat
ter whether manipulated abroad as
usual or not. Following is Willett &
Gray's review Of the raw sugar mar
ket under date Of October 3.
October is the opening month for
new beet crop quotations, and the
passing over from the September old
crop to the new was marked, as usu-
al, with a large reduction m quota
tions. -.' .-- Z.
1t is a matter of congratulation on
our side of the water that our local
supplies of raw sugar have become
so sufficiently large as to make us
almost independent of the world s
prices. so much so that while Euro
pean refiners have been paying full
up prices of the world quotations, our
refiners have been able to buy at
much lower parity, the benefit OF
which has gone to the consumers of
sugar.
ALI crop news Is favorable with few
exceptions, and it is the general
opinion abroad that beet sugar will
decline to about IS. (now quoted IS.
Cd. to 9s. 9Ad.l. y go.
Cuba crop centrifugals are now Of.
fered at 2hc. C. & I. for early next
year delivery, but buyers views are
not above 2Ac. C. & I. for such ship
rnents. - ..- 49,
/ 1t is reliably said by some Cuban
estate owners that at 214c. Q. & (.
there is little or no profit now, ow.
ing principally to the high prices pay
ing for cane and to the labor conti.
lions in the Island, caused by the
political and other circumstances,
There is little doubt that cane enough
is in the fields this season for q two
million crop of sugar, but 1t remains
to be seen If labor and weather con
ditions will permit Of suen final re
suit. ,zz..,r~.s - .....t...sesi5
In any event, with the large Euro.
pean beet crops well assured, the
worlds prices will average much less
than for two years past, with or with
out the usual interference with nor
ma conditions by the Sugar Elk
, change manipulations abroad. 81. (
Centrifugal quotations remained un
changed most of the week at 1850,
C. & f.. and 417c. per h., duty paid
for go test basis. The amount oil
business doing has been limited BY
restriction of offerings.
Philippine sugars to arrive are Of
fered at last price paid, basis OF 3.40c
for $50 test. ..... ...-.
The former purchases of European
beet sugars are arriving. and do not
| look quite as cheap now as at the
time they were secured, but still they
are required to fill the demand until
new crops are available for use; the
making of such purchases Is one Of
the risks refiners are obliged to take
| in preparing to meet the demand.
October shipments of beet sugar
are on offer as low as los. Cd. c. & t
| (4.01c.), and even 9s. 10hd. &c. & t
! is intimated, for shipment from
Fiume, from which port freight rates
are unusually low and much less than
! from Hamburg, from which port the
offerings are at los. AID. to los. Cd
| c. & +. )4.09c. to 4.12e.). Fiume. ship
ments require about 80 days for ar.
rival, against Is days from Hamburg
While the offers to sell euntrifu'
gals at 2 13-16c. c. & f., are generally
withdrawn from absence of supplies
yet it is a little doubtful if this price
| is available from buyers, who are In
clined to wait further developments
! of the october situation abroad; at
the close a sale is reported OF prompt
Cubas at 2 25-32c. c. & f., reducing
spot quotation .0Sc.. to ALAG, which
i, is .0Sc. above the parity of European
beet sugars for October shipment.