Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1915-01-20
FRANCE IS Still
in MARKET FOR
HAWAIIAN SUGAR
Other European Nations Are
Well Stocked, WiIiet &
r. I. Gray Reports


Gray for the week ending Dec. 80.
The report follows in part;
Crop conditions in Cuba have not
materially improved since our last re-
port and the production of the island
since the beginning of the campaign
Is only 34,700 tons, against 1lS,1Sl
tons produced last year to end of De-
cember. . .- +. g.. g..
The Cuban situation has, no doubt,
had an influence in continuing the
market quotation at SC C. & I. (4.0lc
per h., duty paid, and in special
few instances 1-16c above these prices
has been paid, both for Cubas and for
full-duty sugar by refners needing
supplies for immediate use. the sup
ply of such sugar having given out to
an unusual extent at the close OF the
campaign. .s ..... ..-..-...
Naturally the delayed crop produe-
ton has also delayed the customary
buying of our refiners Of early deliY-
cry sugar and but few purchases have
been made for the United States sup
Plies of 1915. .e r.. ~ t.. .
British Purchases Delayed.
In the meantime the sales to Great
Britain, made last August, of 10000
tons for January-March shipments
are Withholding such amount from be-.
ing offered now on the market.
1t begins to look very much as il.
the present values may be maintained,
at least until increased production Is.
sufficient to make free offerings.
AS regards further competition for
Cuba sugar from Great Britain and
France, there are no indications of
such at this writing, both countries
being abundantly supplied for some
months to come. "a
Eventually, however, both countries
must obtain new supplies from sources
outside of beetroot countries at war,
If the war continues Indefinitely.
In meantime, Germany and Austria,
from present crop supplies, have SUI
ficient sugar for their own use for
two years, and thus about half OF the
usual beetseed sowings next spring
will be turned into an increase OF
their cereal crops. s2tAss I
Our latest Cuba reports confirm con, /,
tinued unsettled weather conditions,
SO last year and Is in 1912.
Several holidays come into notice
during the last days of the year, which
have their influence on the market to
some extent in contracting business,
and hence present stocks of sugar be-
came reduced and buying for the fu-
ture is much curtailed by the amount
on offer being reduced by the ship
ments to go forward to Europe, as
well as the unsuitable weather condi-I
lions in Cuba.
AS frequently mentioned by US, the
English government purchased during
August large quantity of Cuba sug-
ars for shipment during January
March, 1915. The quantity understood
purchased at the time was 200, 600
tons minimum and 250,060 tons maxi
mum.
Only 10000 Tons Bought.
Z Considerable effort has been made
to confirm these quantities, but from
best sources we can now state that
not over 100000 tons was purchased
for shipment during January March,
1915, instead of the larger quantities
mentioned above. These sugars are
to be shipped in about equal quanti-
ties each month. Government adj
vices already confirm that 10000 tons
are to be shipped in January in eight
steamers
We have recently reported in our
journal that France had secured be-
tween 10000 and $4,000 tons of sug-
ars from Italy and other neutral coun-
tries, and while this business was
fully confirmed, advices received re-
Gently from Europe state that for
some reason France has cancelled a.
large portion of the Italian purchases,
the quantity being estimated at $1,000
tons.
The cancelling Of these sugars will
necessitate the French government to
look for further supplies to america,
and 1t is understood that negotiations
are at present under way to secure
part, or all, of this quantity from our
refiners. ~"
At the close the market is firm at
the SC C. & 4. (401c) basis for SO de-
grees test centrifugals, with little de-
sire for business, except on the hand
tomouth basis for necessary require
ments of refiners.
Trading in sugar futures on the Cot
fee Exchange has become rather more
active, with an advancing market quo
tation. Sales include February at
2.90c. July at 3.18e and September at |
3.29c, In store, in bond.
The several holidays interrupted
sales and deliveries to some extent, |
but refiners' business for the week
was fairly good. I
France Buying Heavily.
Some refiners having an increased
demand from France, have been some |
what pushed for necessary supplies of /
raws, thus holding both the raw ana
refined prices quite firm. and even.
showing an advance in refined for the
week from 4.753c to AISLE per h.,
net cash, for fine granulated j
The local demand is fairly good forii
the season. There has been some ac.f