SUGAR PRICES DOWN.

Hawera Star, Volume XLVIII, 14 February 1925, Page 4

SUGAR PRICES DOWN.

ALL GRADES REDUCED. The Colonial Sugar Refining Co has reduced prices for all grades of refined sugar, deluding golden syrup, and irwoe, by £1 lbs per ton, which makes The wholesale rate for 1A £26 per ton, golden syrup 2’s 26s 3d per cwt, and treacle 2’s 23s 3d per cwt, with other grades of refined altered proportionately in cost. l ids is the sixth reduction made in sugar within the past nine months, the aggregate fall amounting to £9 per ton. Treacle and syrup have only iii-.i.ed twice since April, i 923, the present alteration making a reduction of £2 10s since that date. Loaf sugar in both bulk and cartons has been reduced £2 per ton in 1'.0.b. Sydney value, wffiieh makes the total fall over the same period £ll per ton. The decline in market values has been brought about by the big increase in the estimates of the world sugar crop, Cuba alone having an ' increase in the estimated production of over 850,000 tons, or a total crop of 4,724,714 tons, as compared with a final outturn of 4,066,642 tons for the previous season.

The total world production of both can? and sweet sugar is estimated at 22.632,914' tons, showing an increase of 2,934.026 tons over the final production of the last season. During the past couple of years the •'onsr.mption of sugar in North America, United Kingdom, and Europe has shown a considerable increase and although the crop estimates for this season show a total increase in production of close on three million tons, when the new crop of Cuban raws came on the market there were less than one week’s supply of old crop Cuban sligars on hand, thus showing that in 1924 consumption had increased like a million and a half tons. With a fairly low price this year on refined sugar, coupled With the fact, that Europe is gradually coming “hack financially, it is quite likely that the year 1925 will likewise show an increased consumption that will practically take care of the increase in this year’s production.

POSITION IN HAWERA. REDUCTION NEXT WEEK. In Haw'era the recent reduction in the price of sugar has not yet been brought into operation as stocks purchased at the old price have not yet been cleared. However, it is expected that purchasers will receive the lienefit of the dron equal to about one shilling per bag. early next week. There was a previous reduction in January last of about 9d per bag, which, with the present alteration will amount to a /Saving to cansumers of about Is 8d per bag.