Salt Lake Telegram | 1923-04-29 | Page 21 | Sugar Supply and Demand

SUGAR SUPPLY AND DEMAND Most assuredly It would seem that If the tho sugar situation were inherently weak with prices sustained purely by speculative endeavor the market would have no such persist persistent ent upward tendency In the tho face of claims of abundance put out by the United States department of commerce and action by the department of justice jus- jus tice I IThe m The demand and supply situation ia sugar is still somewhat confused About all alV that we do know is that the previous previous pre pre- large estimates which were pez per adhered to are not likely to tobo bo be substantiated The Cuban crop was estimated by competent authorities authorities ties at around tons The figured fig tired have been reduced by other du- du probably as competent o tons and by other Judges worthy of credence to somewhere between be- be tween and 1 Undoubtedly the lower figures confirmed would Indicate a shortage of considerable severity Then would come the problem of figuring out not only demand but also the extent O which the deficit in uba could Ija le made up by accretions from other pro pro- duing countries such as Java Porto PortoRico Rico and the sugar beet production of Europe and the United States This country Is using more sugar than ever before Monthly by refiners In the United States are estimated estU esti- mated at the rate of tons When it la is kept In mind that estimates on Cuban Cubita grinding will be at the rate of only about tons monthly w ware we are evidently faced by a progressive scarcity Thus far two fifty Cuban centrals show 23 per cent decline 1 in grindings Moreover It Is necessary to keep in mind that Europe la is a large larg buyer of sugar and th the needs of Grat Cs-at Britain that la is he her prospective purchases from Cuba ar are placed at tons while It Is als also figured that France will require a aleast at least tons In the list of recent developments most of the evidence supports th the claims claIm of a shortage Until substantial indications are aro forthcoming that tha demand will bo be checked by higher prices or oi that the supply will be aug augmented augmented from other sources there willbe will wll be a disposition to operate on th the theory that more or less of a. a pinch J is In prospect Wollman Wollman Review 1