DEARER SUGAR.

Hawera & Normanby Star, Volume XLII, Issue XLII, 21 May 1923, Page 5

DEARER SUGAR.

A WORLD SHORTAGE.

New Zealand is not the only place where sugar lias increased in price, indeed, it seems tiiat its people are fortunate in being able to get sugar as low as 4d per lb. The l>any Man (London) on February 9, said: —

"Sugar, which to-day costs the housewife 6d per Ib, is likeiy to be dearer.

Wholesale nnoes have been rising steadily, and American granulated is

now realising from 60s to ois per cwt.,

duty paid, compared with 48s a fortnigiit ago. The new Cuban crop, winch has now been in process of gniiuing lor four weeks, is the keynote to the situation. British refiners Believed that the acceleration, in the output —nearly double the number of centrals have been at work.—would mean an excess of production, and tnat when the American demand was satisfied they would be able to obtain their supplies on more satisfactory terms. They were mistaken. The American mari^et has readily absorbed every pound of Cuban sugar sent to it at rising prices. The consumption of sugar m the United States rose by 1,110,000 tons last year, and there is no sign of a deorase in the demand. The net result is that the British refiners, who might have bought raw Cuban sugar a fortnight ago at 16s 3r per cwt., c.i.f., for February delivery, are now being forced to purchase at 17s 6d to 18s per cwt."