SUGAR PRICE JUMP
Hectic Activity On Markets
(N.Z. Press Assn.—Copyright) LONDON, May 8. Hectic activity in both the London and New York sugar markets has seen the London daily price jump nearly £6 in three weeks, “The Times” reported today. The volume in New York set a new daily record and the London turnover recently has been twice last year’s daily figure. A lot of public speculation has boosted turnover in a commodity very sensitive to rumours. Big Impact
The United States’ Department of Agriculture’s lifting of restrictions of the imports of all raw sugar during April to June, and adverse crop reports from India, made a big impact in London.
Estimates of world output for 1966-67 have varied at 64,405,000 metric tons and 66,760,000 metric tons, with most dealers favouring the lower figure. Cuban Difficulties Difficulties of harvesting the Cuban crop has caused some price rises in the sugar markets. With office workers pressed into service the crop is expected to yield 5.7 m tons instead of the official target of 6.5 m tons.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19670509.2.186
Bibliographic details
Press, Volume CVI, Issue 31364, 9 May 1967, Page 21
Word Count
175SUGAR PRICE JUMP Press, Volume CVI, Issue 31364, 9 May 1967, Page 21
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.
Log in