Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1916-12-16
PRICE OF SUGAR
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tspecisl star.Builetin o0rrespOnaenee)

H. tSpecl3i Star-butletin Oorfe4p0Enencel
NEW YORK, n. Y, Nov. 25.-The
bag situation as IA; as the cane
sugar producers in Cuba. Porto Rico
and the United States are concerned
point to a continuation, during the
coming crop season, of the presen,
era OF high prices that has ruled with
out a break throughout 1916. On the
face Of present reports 1t is not un
reasonable TO expect that prices may
even go TO higher levels.
The two most important prevailing
influences affecting both the price and
supply of bags are the increase in
freight rates on jute and bagging from
| the East to the United States, and
the continued Communicating by the
English government of large quantities
OF bagging for war usage.
Latest adyices from London state
that the freight rates on jute and
bagging from Calcutta to the United
States have increased from IS to 100
per cent, and he freight space even
at these increases is difficult to pro-
cure as the English government has
commandeered practically all of the
available tonnage to move supplies to
the United Ki1cdom and France. A
recent cable rom Dundee, Scotland,
states that all the ships plying be-
tween India ana the United States
have been engaged to carry 100000
tons of wheat to England, France and
Italy, and that as a result no space
is now available for jute and bagging
shipments TO this country untif the
end OF January.
Local sugar bag dealers in COM
menting on these factors this week,
held the opinion generally that prices
during the next two months will
closely reflect the working out OF
the high freight situation, the scarcity
Of tonnage. and subsequent demands
Of the British government for lutte and
bags. The latter factor is the most
important one CT the three. Recent
reports indicate that Great Britain has
recently increased, its former order
of $4,000, 900 bags, used in trench war
fare, to 172,0o0.000 Tags from the
1861 jute crop, and In fact fur
Their increase is considered among the
probabilities. This demand on the
bag material supply in itself will large
ly govern prices. and wiki seriously
affect bag supplies for sugar produc-
ers in the Western Hemisphere.
Bags are now quoted at from &c
to 80 cents for Cuban bags, January
to February shipment, a slight in
crease over the prices prevailing last
August. What price they will COM
mand before January there is no pos
sibility of forecasting as any number
of world events may depress or sky.
rocket the market.
The majority of the bag dealers are
not alarmed over the situation as bag
supplies have been largely anticipated
by both Cuban and Porto Rican sugar
producers to meet The needs Of the
coming crop season, and it is safe to
predict that large percentage of the
larger companies have filled their re-
quirements for the 1851 season.
Local importers estimate that IS
per cent Of their supplies for the 1916
II jute crop have already been made.
and that while the balance may be
delayed due to the communicating
of the vessels, they will eventually
reach here in time to prevent any
acute shortage being reached. The
outstanding view of the situation is
to be found in the trend of prices and
they point to upward end higher lev
els, due to the influences described
above.