Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1916-05-30
Sugar Trade Journal Tells OF
Cuban and European Crops
and Shipping Conditions

/ ILss = SuShF L Idut JOuI HdI IOi +ho'
Is. inc following extracts are inter
esting:
RaSs. 49,.
We wrote last week that hesitation
was shown to the advance in prices
| beng carried further at present.
I "Ihe same hesitation continued
through the present week until yes
teIday, when cargo OF Porto RCos
| was sold to Boston at 6.2Sc, or say,
/ making IL days Since sugar trans
/ action had been reported i'll the mar
4 ket Such circumstance as this can
| occur Cniy under most unusual COndi-
tons, such as plenty OF ready supplies
! in refiners' stock and plenty Of profits
in sellers pockets, 10 enable them IL
| be, Tor a time al least, Independent
! of further selling. How long this eX,
! treme dizziness to trade may continue
! Is hard to say, or in whose favor
buyer Or seller, il will eventually eni.
/ AS in the case with the Porto Ricoa,
| it appears natural that some seller OF
| CuDas win be found to make con
| to buy. ...-
Thus far only intlmations arc
thrown out that at 53sc c. 4 (. t6.40c)
| for Cubas the next business N these
sugars may be put through. AS we
| go to press the market quotations arc
lower at 5ssc c. & 1. (6.40c) for afloats
and prompt shipment, and 51zc c. & f.
| (6.52c) for June shipments, with the
outlook favoring a decline in prices
ha,. n11 H.
! sold today at 6.02c for prompt ship.
ment. A renewal of advance later on
is by no means an impossibility, pro-
vided Cuban holders so will}it, by re-
naming firm and offering lightly un-
til buyers require fresh supplies of
raw sugar. All sugar business at the
moment, in both raws and refined, is
reduced to the hand-to-mouth basis,
which sometimes proves dangerous TO
both interests, and may prove so now
while necessary. supplies from any
other source than Cuba are still 4
long distance into the future.
The United States beet sugar
crops, due after July, are the first
real competitors against present
sources of supply.
"A disturbing factor of the week
is the labor and river strikes, which
have made difficult the moving of
vessels and cargoes in the harbor, and
these are not yet overcome.
Cuba. ...
THE figures for the week ending
May IL give receipts of 105,229 tons,
against 100000 tons for same week
last year. Total exports are some
what larger, at 97,842 tons, of which
an increased amount, II 1874 tons, are
destined to the United States Atlantic
ports and 1000 tons to New Orleans;
$500 tons ito Galveston and 22,35S
tons to Europe. Stocks are further in.
creased to 942,333 tons, the highest
point so far. Visible production to
May Is has passed the two and one
half million mark, standing at 1885,
946 tons, compared with 1,994,092
tons and 2,124,82S tons to correspond
ing dates of the two previous years.
The centrals that continue grinding
(89 on the 18TH, are about common
surate with those of two years ago,
when SO were bringing at this time.
Market opinions for the future are de-
pendent to quite some extent upon
the final outturn of the present Cuba
crop, so we give herewith the stas-
tics as we view them: Cuba has pro-
duced SO far visible of 2,56S,946
tons, with the central still working
amounting to about the same number
as those of 1914, but with undoubtedly
a larger invisible stock existing on
the plantations in the island at this
time than two years ago. We think
it may safely be taken that at least
the balance OF production for this
crop will equal that of 1914, say 49,
902 tons. Adding this figure to the
present visible production, We have
3,041 $50 tons. so that a three million
ton crop seems almost certainty.
Weather during the week has been
unsettled with heavy rains in the
easter provinces Latest cable ad-
vices state torrential rains have oc-
CURED in eastern provinces, with light
and partial rains in western prov.
inces. On May II so centrals' were
grinding. :r-
Java. ........
Our regular monthly cable reports
$4,000 tons shipped to the United
Kingdom during the month of April,
while $4,000 tons were exported to
Oriental ports. The earliest ship
ments to Europe last year we're IN
June, when 10000 tons were shipped.
This years shipments may be expect. |
ed to be large each month now TO
complete the United Kingdoms pur.
chases of 100000 tons
"A report was received here by |
mail that the royal commission of Eng !
land had purchased some 100000 tons
of the Java crop, harvesting of which |
begins May, 1917. but upon inquiry !
cable was received by US stating that
the United Kingdom had purchased |
no Javas from the. above mentioned |
crop, but that all their Javas bought /
would be shipped from the crop ma |
turing May, 1916
Russia--petroara1.
"a large Russian sugar manufac
turer mas prepared Z report on the
position and prospects Of the sugar +