OCR Text |
Show THE OUTLOOK FOR 1926 During 1925 the world's supply of sugar increased 3,500,000. tons over what it had been the previous year. That is roundly! the amount by which the sugar crop of the 1924-25 season exceeded that of 1923-24, and the latter was the largest crop ever made up to that time. : This tremendous expansion in production which was equal to between 4 and 5 pounds for every member of the world's, popu-j laiion was the direct cause of the low prices that have prevailed, during the past year. The immense Cuban crop had a particularly' depressing effect upon the. American sugar market because sugar j from Cuba; entering the United Statese,- enjoys a tariff protection of; 44 cents a hundred pounds over sugar from any other part of the I world and so the Cuban producers send as much of their crop as they possibly can to this country. For 1926 the increase in the world's sugar supply will be much smaller than last year probably not "more than about 800,-000' 800,-000' tons. It is estimated that t takes roundly 1,000,000 tons to keep up with the yearly increase in world demand for sugar. Consequently there shojuld be an improvement in prices as the ydair progresses and by the time the 1926 crop of beet sugar comes on the market sugar should be worth considerably more than it is selling for today. Nobody can. predict anything about the future course of sugar with certainty but from the present outlook 1926 ought to be a more profitable year for sugar beet grower than 1925 has been. |