DEARER SUGAR

Taranaki Daily News, 22 September 1931, Page 15

DEARER SUGAR

SUBSTANTIAL RISES, RESULT OF HIGHER TAX. A substantial rise in the prices of sugar is announced by the Colonial Sugar Refining Company, Limited. _ This will doubtless be reflected by an increase in the retail prices of sugar throughout the Dominion. The Colonial Sugar Refining Co., Ltd., is increasing the prices of all grades of raw and refined sugars (except tablets and icing sugar) by £5 a ton. lhe prices of tablets and icing sugar are being raised by £2 a ton. The prices of golden svrup and treacle will remain unaltered. *.The rises are the result of the increased duty on sugar imposed in July, hi his Budget statement the Prime Minister said it was proposed to increase the duty on sugar by per lb, and the same time to reduce the surtax to 1-ZOth of the duty. “In dealing with this commodity,” said the Prime Minister, it should be remembered that the proposed duty is much less than that in foice m certain other British countries. In Australia, for example, the rate of duty is Id per lb, and in South Africa it is slightly over that amount, Another po?nt that should be remembered is that the price of sugar in New Zealand today is just over £l6 per ton, as compared with about £37 in Australia. Furthermore, the price in New Zealand a; shown in the Abstract of Statistics dropped from £24 12s 6d per ton in 1927 to £23 in 1928 and is £l6 6s 8d at the present time.”