THE SUGAR INDUSTRY.

New Zealand Herald, Volume LXVI, Issue 20405, 6 November 1929, Page 9

THE SUGAR INDUSTRY.

INSTABILITY OF PRICES.

NEW REFINERY AT PERTH.

NO INCREASE IN ' CONSUMPTION.

Addressing the half-yearly mooting of the Colonial Sugar Company in Sydney last week, the chairman, Mr. E.W; Knox, said that the climatic prevailing during the last six months in both Australia and Fiji nffeclcd the growth of the Cane, and the total output of sugar will bo about 600,000 tons, including 220,000 tons from the company's, factories. It will be necessary to export from Australia 192,000 tons, \vhicji has. been sold to British refiners and should realise about the same, price as.the ship.-: ments of the 1928 crop. . Siucc August the production of sugar from the corn, pany's Australian and Fiji mills has aver-, aged over 10,000 tons a week. The prospects of the 1930 crop are not, so far, favourable—the winter and spring nights having been unusually cold —aud the rainfall for that period was below the average. Since the sharp fall in the world's price for sugar, which reached the lowest point in May last, there has been a slight recovery in values, but it cannot be said that this will be maintained. All the, producing countries, except Java, now depend more or les3 on protection of their sugar industry or on preferential duties, and a way out of the resulting tangle is not * manifest. To add to the difficulty, the British Chancellor of the Exchequer has stated his intention to propose next / year Jie abolition of the sugar duties and the consequent cessation of preference for the produce of the British colonies formally promised to those communities for a period of ten years from July, 1926. Mr. Knox remarked that the company's deliveries of refined sugar during the halfyear again showed no increase and they were still in doubt as to the cause of the slightly smaller consumption. But there had been a strong demand for syrup, as has been the case before when many people were out of regular work and a cheap substitute for butter was sought. He added that the company's refinery at Perth is nearly completed and it was expected to start work there in a few weeks. With that addition to the refining plant the company could provide a larger supply of refined sugar than is now required in Australia, so that it did not expect to be called on to enlarge any of the present factories for some time to come.'