SUGAR PROFITS

Timaru Herald, Volume CXLIII, Issue 20894, 25 November 1937, Page 6

SUGAR PROFITS

REPORT OF COLONIAL COMPANY United Press Association— By Electrio Telegraph—Copyright (Received November 24, 10.10 pm.) SYDNEY, November 24. Moving the adoption of the report of the Colonial Sugar Company’s hall year of business to-day, the chairman (Mr E. R. Knox) said the Australian crop for 1937 was estimated to exceed the previous year by nearly 20,000 ton; of sugar. The Fiji crop, although it was below last season’s, would be satisfactory. The Improvement in the price levels, as the result of the international sugar agreement, had beer greatly offset by a substantial increase in freight rates to the United Kingdom The company had ordered anothei steamer of 5500 tons, and it expected delivery would be made in July next Favourable reports had been receiver regarding the pineapple areas in Fij' and a canning factory site had beer selected near the sugar mill at Lautoka It had been decided to develop th< fibre board industry on a large scale by the erection of a factory capable oi supply Australia’s total requirement: for some time. The report was adopted.