The Hawaiian gazette., 1916-04-14
BULLS IN CONTROL
OF SUGAR MARKET
Prices Rule High Because Actual
Supplies Cannot Be
Delivered
European Reports Indicate ST.
gar Hunger Is Extending
To All Lands

Sales Of raw sugar at New York dur.
ing the week ending March 80 were
about 100000 bags Cubas, all prompt,
or for April and May delivery. Viii
lett Gray report also saIos odf
Peru and Suriuams to Canadian re.
hners They state in part that
Stocks in the United States and Gu.
ba together were S2O, 49j tons, against
I4,O7l tons last week and GS9,74J tons
last year, an increase Of I30,75O tons
from last year.
The week under review has continu-
ed to show steady improvement in the
value of raw sugar in our market
mainly by reason Of the short supply Of
actual sugar ready for use or for near,
by delivery.
This advance in 960 test Centrifugal
is from SHE per ID. last week to O2.
this week (later $500. This advance
is unusually large for the season, and
may be accounted for partly at least
as follows:
Why The Price Jumped
Our weekly Cuba cable gives rcoript4
at shipping ports 156 332 tons, exports
%, ll5 tons, of which 7,267 tons 70
Europe $4,000 tons to New Orleans. az
cording to Mr.. Himely), 44,S4S tons to
Atlantic Ports, entirely Inadequate to
melting needs; stock 693 1925 tons
against 479,40O tons, and 1856 Ccntrals
working.
We have received an estimate Of
sugars held on estates in Cuba and in
transit to shipping ports, which to.
gether with the above stock. approxi
mates one million tons. This Iarnc
quantity of sugar is virtually tied upI
In Cuba, whore it Is not needed nv
reason of lack of freight facilities to
the U. s., where II is greatly needed. |
Full-duty sugars have followed the
advance in Cuba, recent sqles hav:ng
been made at from I1-lGc to 4%c
elf, the quantity sold being about
1000 tons, and chiefly for sugars from
Peru.
England Commanders Freighters
The cable received by. us recently
from the English Commission advising
the purchase of Javas for April ship
ment, shows the possibility of England
obtaining Javas even though freight
rates are prohibitive as far as private
individuals are concerned.
The British Government, however.
with IT'S power to cOmman deer vessels,
can OF course obtain relatively CHEAPER
rates. The Java crop, which does not
start harvesting generally until Nav
will not have much sugar to shin until
June-July. Under the above cCniitions
the sugars purchased are of course old
crop sugars. Recent quotation named
for Javas was los ct fob. Java, or say
3.7Oc fob. Java, and freight to New
York quoted by private parties is about
$3.50 per 100 lbs.
Porto Ricos are offered very freely
at varying prices, from j.S9r to 594r
Cuba Is Bullish
In spite of the largo receipts for the
week Of l56,332 tons, which has in
creased the stock in all ports of the
Island to 693,32G tons, against a stork
of 497,4OO tons at this time last wear,
the cabled figures are very \hulIish, as
the exports for the week amount to only
~, ll5 tons total, which is very small
or this total amount of exports. 7yG7
tons are destined to Europe, and a.
cordng to Mr.. Himely 1000 tons to
New Orleans, leaving a balance of A.,
S4S tons for the L. =. Atlantic ports.
Island Full Of Sugar
There is plenty of sugar in Cuba, rot
only in the ports but on plantations,
but the holders are strong and the ship
ping facilities are scarce. The point is
to get the sugars to New York, where
they are needed, rather than in Cuba.
Favorable weather has prevailed during
the week and 1856 Centyals are grinding.
Visible production to March - is ,6G4..
74S tons, against ,22l ,7l5 tons and
! ,462 ,352 tons to corresponding dates for
the two previous years.
One of our friends in the Island who
is we'll posted generally writes us that /
In his opinion on account of the prevail
ence OF dry weather the crop will finish ,
about month earlier than last wear, !
and amount to somewhat less than ;
. ,oOo,OO0 tons. Cuba = rail facilities
for moving sugar from the central fac ,
tories to the ports are already over
taxed. Our latest advirrs Nv cable 7
state that the weather continues dry.
Europe Beet Prices ,
Germany has, under Government CON
troll, established the prices Of brcts for
the 1857 campaign between $G.6G |
"h" 600 per tOh' me Austrian TOY
ernment has ordered that $S.I2 per ton ,
be the minimum price paid for brets. ,
France has previously fixed the beet $
price at $9.65 per ton. Il
In Holland the high beet prices do l
not attract the farmers, and only two
thirds Of the desired acreage has boon
Scruredi the farmers are holding back {
awaiting higher beet prices, which the, =
expect in view Of high sugar prices In
Belgium, the German authorities have !
stipulated $S.49 per ton US the beet