HOARDED SUGAR
Effect On Price {N Z.PA.-RtuXtr—Copyright) WASHINGTON, June 12. The Agriculture Department yesterday announced its intention to discover hoarded sugar. American cane sugar refiners. beet sugar processors, and importers of refined cane sugar have been asked to report by the end of June the names and addresses of all persons to whom they shipped a railway truckload or more of sugar during April and May. The move followed evidence by two senior officials of the department appearing before Congressional committees, ttating that they believed the recent rise in American sugar prices to be due in pgrt to hoarding. “The increase in sugar stocks of over 500.000 tons since the beginning of the year was an important factor in the rise in sugar prices this year,” an announcement by the Agriculture Department said. About 400,000 tons of the stockpiling took place in April and May.
“There is some indication that the build-up has abated in view of the department’s assurance that sugar supplies available to the United States this year are well above normal requirements,” the announcement said.
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Bibliographic details
Press, Volume CII, Issue 30157, 14 June 1963, Page 7
Word Count
178HOARDED SUGAR Press, Volume CII, Issue 30157, 14 June 1963, Page 7
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