SUGAR PRODUCTION

Timaru Herald, Volume CXLVI, Issue 21360, 1 June 1939, Page 9

SUGAR PRODUCTION

REPORT ON AUSTRALIAN OPERATIONS United Press Association—By Electric Telegraph—Copyright (Received May 31, 7.50 pun.) SYDNEY, May 31. The Colonial Sugar Refining Company’s total output of raw sugar in Australia last season was 795,454 tons, which exceeded the record production of 1937. Consumption, however, was slightly less per head of population than in the previous year. It was necessary to export oversees 444.173 tons of surplus raw sugar, while the net return on it was slightly 'ess than the previous year. During the past few months there has been a sharp rise of approximately 40s per ton in the world’s sugar market, but this has had no direct benefit to the Australian industry because the increase occurred after the last consignments of Australian sugar were sold overseas. In any case the rise was only temporary, due to an artificial shortage and ‘‘e desire to build up emergency stocks. These facts were contained in the company’s report, the adoption of which the chairnian <Mr E. R. Knoxi moved at a meeting of shareholders in Ssydney to-day. Mr Knox emphasised that the company would enjoy an indirect benefit in the shape of an increase of 50,000 tons in the Australian export quota, which would be most helpful in disposing of the abnormally large production in sight in the coming season. Mr Knox added that the pineapple industry in Fiji was most promising. The cannery there yielded 8500 cases during December and January. It would be necessary to increase the capacity of the cannery, so encouraging was the undertaking. The report was adopted. Dr. E. W. Fairfax was elected a director.