OCR Text |
Show Cuban Sugar Now Controls Market Near exhaustion of supplies from domestic sources is stated by Facts About Sugar as the cause of the advance ad-vance in the price of sugar during the past two weeks which has carried raw sugar up to 4.77 cents a pound and refined to 0 cents a pound wholesale at the refinery. According to statistics compiled by the trade journal the balance of the 1026-27 beet sugar crop remaining to be distributed is only 175,000 tons, while about an equal amount is available avail-able from Hawaii, Poito Rico and the Philippines. As the normal trade re quiremtnts of this country are over 450 000 tons a month the market will be forced to rely on Cuba for its sun-plies sun-plies until new crop beet sugar becomes be-comes available. Realizing, this situation situ-ation Cuban holders have advanced their prices and expect to dispose of the balance of their crop on profitable profit-able terms. |