Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1913-11-07
Preliminary Estimates on the
]. American and European
Crop IS Published :

~ ? = p
wnlett e Gray's latest Sugar Jour
nal says:
STATISTICS BY SPECIAL CA
BLES.- Cuba. - The six principal
ports: Receipts, none: exports 1906
ions; stock, $1,000 tons.
Harvesting has ended.
Receipts entire Island 1000 tons
against 1000 tons last week. 1000 tons
last year, and 1000 tons in 1911.
Stocks in the United States and Gu
ba together of 242. 1886 tons. > agains
273, 1886 tons last week and S,109
tons last year. an Increase of 94,6S7
tons from last year.
Europe.-Stock in Europe, 49,, 00t
tons. against 3S4,O0o tons last year.
VISIBLE SUPPLY. - Total STOCK
Of Europe and America, 1876 toni
against 532, 109 tons last year at the
same uneven dates. The increase o.
stock Is 204,6S7 tons against an in
crease of 267,743 tons last week To
tai stocks and afloats together show 9
visible supply Of 1916 tons agains
653, 100 tons last year, or an increase
of 12S, 6S7 tons. :*s.. L..
: RAWS. ~ There has been nc
change in quotations for the week un
der review. - . ~
Centrifugals Of 96 degrees test ar,
still PIC. c.&f. and 3.4Sc per ID. dutl
paid. 49, IS. f.. =.
The business has been light ant
without need of special comment
akofR h.
ton of the annual sale Of a consider
able portion OF the Louisiana crop fol
early delivery to refiners. The amoun
to be delivered by planters and &C
cepted by the refiners is stated a
SOC, 900 to 100000 bags, before De
cember. 18th, and the price Is 3.31,
per h. basis 96 degree test, deliver
ed in New Orleans, which is Figured
Gs the equivalent of 3.48c per ID. de
livered in New York for So degre,
test centrifugals.
This establishes a continuous sal.
and purchase Of these sugars for thu
next two months at Base per ID. basi,
without regard to the fluctuations o
the New York market either up O
down. The quantity represents pos
sibly 100000 tons of the crop, which
is likely to be nearly as much as cal
be produced of refining grades during
the period named
. As this purchase will supply tn.
place Of an equal amount from othel
sources. 1t is scarcely likely that tn,
present New York price Will vary Il
any marked extent although tn,
strong and rising markets of Europe
would seem to- invite buying from
Cuba should any concession become
necessary with Cuban sellers. #
z give efsen here herewith aoul
views of the general sugar situation
and outlook. As seen by our revised
estimate OF the world crops herewith
The present views abroad as indi
Gated by the advancing course OIL
values for beet sugar, appear to con
firm our own. - - 49, s1s
The cable. today reports an active
demand for beet sugar at the advance
which represents a smart rise of Sd
per oWt. for the week, for this and
next month, and, 2114fh for futures Of
May delivery.
Cane .Iavas. are at los. 105sd. elf
basis. which cannot be compared with
last week ss quotation of lis. I'D.
floating landing basis. Hereafter the
quotations will be- given in the new
basis, which Isl virtually the. basis fol-
a61z test centrifagals, cost, freight
and insurance. s.~' -5 IA
Inasmuch as our present value OF
oentrifugals is 3.4Sc per h., against
414c per lib. parity of European sugar
landed in New York, it would seem
that some explanations of the large
difference of 66 cts. per 100 lbs. would
be in order, but the only. explanation
is the usual one of supply and, de-
mand, So long as supplies here can
be had at this difference below Euro
pean parity there is no occasion to
pay any more for unneeded supplies.
This condition will regulate itself
eventually under new tariff basis in
1914 and probably in the way Of the
course of the European markets more
closeIy. We somewhat doubt if very
much of the next Cuba crop will find
its way here at the mere cost of pro-
duction &c c. & f. provided the u K.
markets retain their strong advancing
tendency, which is now so prominent
in. the general situation.
Our domestic beet sugar producers
did a wise thing in Withdrawing their
competition from the extreme eastern
markets. There is encouragement in
this paper this week. we think, for
the curtailment. of disposition to dis
pose of their entire production at cur
rent prices before, March 1, 1914. They
may do better later!
Messrs. Guma- Meier give final out
turn of the Cuba crop of 1928 as
2,42S.537 tons, or 1860 tons over
their first estimate and 532,553 tons
in excess Of the previous crop.
Mr.. Himely's final outturn does not
vary materially from the above, his
crop outturn being 2,429,240 tons.
NEW CUBA CROP PROSPECTS,
In general there were smaller than
usual paintings made for the new