As showing the rapid growth of the beet sugar industry during the past sixteen years, the following table, giving comparisons of the production in tons, should prove interesting: Consumption.-There was another satisfactory increase in the con sumption of sugar in the United States, which could be attributed to the stimulating effect of low prices, though the normal growth of population was not without its influence. The total of 3,671,824 tons makes a new record for the country, being an increase of 123,515 tons or 3.48 per cent. The interesting feature shown by statistics for the year is the further encroachment upon refiners from beet sugar which accounted for 17 per cent. as against 15.01 in 1912 and 15.51 in 1911. Of the output of cane refined, the independents increased their quota to 46.34 per cent. comparing with 46.09 in 1912, the proportion of the American Sugar Refining Co. falling off to 36.27 per cent. as against 38.48 the previous year and 42.12 in 1911. Hawaiian refiners contributed the same percentage as in 1912, .37 compared with .41 in 1910. The proportion of foreign refined was very insignificant, .02 per cent. as against .05 in 1912 and the same percentage in 1911. As a consequence of the keen competition, the large crops and tariff revision, the average cost to the consumer was reduced 78 cents per hundred pounds. The per capita consumption of the United States is 83.7 pounds so that we rank next to Great Britain which increased its takings to 95.52 pounds, this being due to the fact that cheap sugar stimulated the manufacture of jams and other sweets for the export trade. The total consumption of sugar in the United States in tons for the past ten years follows: The relative per capita consumption in this and European countries for the last ten years is as follows: The following table shows the distribution of sugar at the Port of New York in tons for the past ten years: Prices. The market had its periods of upward movement during the year, but generally speaking the trend was downward and the lowest level in sixteen years were reached. At the beginning of the year, raw sugar sold at 3.73 cents per pound, owing to the fact that refiners were bare of supplies and using preferential importations, but prices proceeded to drop sharply under the stimulus of the Cuban movement. Although competition by Europe for Cuban sugar caused a small recovery in March, the calling of a special session of Congress for April forced down values steadily until 3.30 cents was reached the middle of May. There was naturally little demand for raws because of the expectation of an early establishment of reduced duties. By the latter part of June, however, it was apparent that no change in the tariff would take effect during 1913 and the market continued upward until 3.80 cents was touched August 26th. This was the high for 1913 and, with intermittent rallies, prices subsequently reacted steadily until 3.23 cents was quoted at the close of the year, this being also the lowest for the twelve months. The December rally was occasioned by the Southern Pacific railroad strike which checked the movement of Louisiana crop, but this was short-lived. The high price for 96° centrifugals, it should be noted, was made at the beginning of the year, 3.73 cents, and the low at the close, 3.23 cents or a decline of exactly cent. The average for the year was 3.506 cents which compares with 4.162 cents in 1912. Refined sugar was sympathetically weak, though the influences affecting raws were accentuated by the excessive competition of refiners, as is indicated by the results of the year. poor Fine granulated was quoted at the beginning of January at 4.90 cents which was also the high for the year, declined steadily, except for a temporary lull in March, until 4.10 cents was reached in May. Distributors refused to buy ahead arguing that a reduction in the duty on raw sugar would be passed on to the buyers of refined, and there was also competition from domestic beets, a larger quantity than usual being carried over from 1912. The latter part of June, as a result of the holding off policy of the country, invisible supplies became so depleted that wholesale grocers and manufacturing interests were forced into the market, with the result that prices advanced rapidly until 4.70 cents was reached in August. The postponement of the duty reduction until 1914 restored confidence in the trade, and business was of normal proportion. In September, the demand fell off and prices, gradually, declined until the end of December when 4 cents was touched, the lowest for the year. The average for 1913 was 4.36 cents for fine granulated which compares with 5.14 cents in 1912. The average price for fair refining or 89° test Cuba Muscovado for the past decade compares as follows: Refined sugar showed the following yearly average for granulated during the last ten years: year. Crop Prospects. The prospects favor a still further increase in production for the coming year. It is estimated that the total yield of sugar in the world for 1913-1914 will be 18,548,000 tons, as compared with 18,174,000 the previous year. Beet sugar will furnish approximately 50 per cent. of the total, in round figures 9,003,000 tons, so there will be a gain of only 39,000 over the yield of the previous The United States increased its crop of beet sugar materially but Europe showed only a little advance owing to moderate sowings, more attention being paid to grain crops. The convention countries, as a matter of fact, decreased their production over 400,000 tons; countries like Russia accounting for whatever increase was recorded. With low prices, and competition from Cuba, it is only natural that there is less interest shown in Europe and even in the United States; the affect of tariff reduction will ultimately be to decrease the output. Since cane as a rule, is not planted yearly, the yield from this quarter is not so easily curtailed and good crops are, therefore, expected. Cuba will increase its record-breaking yield of 1912-1913 to 2,550,000 tons, Java following with 1,345,000 tons, Hawaii 500,000 tons, and Porto Rico 300,000 tons. The Philippines promise 220,000 tons, there being now no limit to the quantity of sugar, which can be exported to the United States, though as a matter of fact, the Far East is taking the cheaper grades, and only the higher quality comes to this country. European Beet Sugar.-The beet sugar crop in Europe for the year 1912-1913, was 8,342,000 tons or 108,000 less than the estimates, but it proved, nevertheless, a record breaker. The weather was favorable and sowings large in the convention countries. While not up to early predictions, the coming crop 1913-1914 will be rather larger, a yield of 8,348,000 tons being foreshadowed. Conditions have not been so favorable for the convention countries, and they show an estimated decrease of 492,000 tons which is made good by Russia and other producing nations. Germany will hold its own but Austria should decrease 170,000 tons and France 173,000. Although Russia gains 364,000 tons, it is said that its exports will fall off, since the home consumption is increasing, and England finds Cuban raws comparatively cheaper. Under the Brussels Convention, as modified, Russia may export 250,000 tons during 1914, the same as for 1913. The following table shows the latest estimate for the European beet campaign, now practically completed, together with a comparison of previous years as compiled from official data: Cuba. The final showing for this sugar crop during 1912-1913 was 2,428,537 tons or 178,537 tons larger than estimated, the preliminary figures being 2,250,000 tons. Despite this immense production, however, the coming season may witness an even more surprising yield, estimates running as high as 2,550,000 tons. It would naturally seem that planters will be compelled to sell at around the cost of production, since they are dependent upon the American refiner for a market and, as a rule, press offerings during the active grinding However, it is interesting to note that low prices have stimulated the demand from Europe and Canada, as well as the far East. Over 317,000 tons were taken for these outside points. Progress has been made in Cuba in the matter of better financing and storage facilities, which should aid in holding back sugar. Modern machinery and better management, generally, have brought down the cost of production, and even when Cuba loses its twenty per cent. duty differential in 1916 through the advent of free sugar it will still have an season. advantage over other countries on account of the low cost of transportation as compared with Java, Europe or South America. The abolition of the Dutch color standard will facilitate the production of white sugars in competition with refined, though this is not yet on a commercial basis. The Cuban crop during the past ten years compares, 1914 being estimated : The estimated production of the world, so far as the quantities available for export are concerned, may be tabulated as follows, with comparisons of previous years: 1913-14. 1912-13. 1911-12. 1910-11. 1909-10. 1,483,451 1.804,349 320,000 295.000 308,000 |