Tobacco

Title

Tobacco

Creator

Pujalte, Luis A.

Language

English

Source

The American Chamber of Commerce Journal Volume XXVII (Issue No. 5) May 1951

Year

1951

Rights

In Copyright - Educational Use Permitted

Fulltext

164 AMERICAN CHAMBER OF COMMERCE JOURNAL May, 1951 The world “spot” market price on April 30 was 5.90/ as compared with 5.50/ on March 30. Local Market, (a) Domestic Sugar: Keen competi tion among dealers for the remainder of stocks held by mills and planters forced prices up and fairly large parcels were traded. We give below the Bureau of Commerce quotations as of April 25: Centrifugal 97°............. P14.50—3P14.7O per picul '98°............. 15.00— 15.50 ” ” 99°........... 16.30— 16.50 ” (b) Export Sugar: During the first half of the month the local market was dull in keeping with the trend of the New York market, buyers quoting from P12.80 to P13.05 ex mill warehouse. With the subsequent improvement in the New York market there was more activity, and quite large quantities were traded on the basis of P13.20 per picul ex mill warehouse. Brisk trading has continued at steadily advancing prices, and at the close there are buyers at P13.70 per picul. General — 1950-51 Crop. Seventeen of the 27 operat ing mills have already finished milling. In general their out-turns ran below estimates, and it looks as though the final crop out-turn would be approximately 3% less than the estimated 14,200,000 piculs (883,964.98 long tons). This is attributed to a prolonged spell of dry weather throughout the cane growing districts. 1950-51 Sugar Shipments. It is estimated that approximately 400,000 long tons will have been shipped to the United States up to the end of April, and that about 100,000 tons more are already booked for shipment in May. The total quantity available for export against our United States quota is estimated at 640,000 long tons, or about 210,000 long tons short of the total United States quota of 850,000 long tons. Freight. A request by the Shippers’ Committee to the Sugar Freight Committee of the Associated Steam ship Lines for a reduction in the present Philippines/U. S. Atlantic Coast freight rate of $21.00 was not granted. The present outlook is that there will be no difficulty in securing space at the current rate for the unbooked balance of 1950-51 export sugar. Tobacco By Luis A. Pujalte Secretary-Treasurer Manila Tobacco Association, Inc. THE tobacco harvest is almost over and there isn’t much to add over last month’s report except to say that the second and third primings in La Union province are coming out fairly well. T feel certain that my readers will be highly interested 'in a comparative statement on the specific taxes paid on cigarettes, domestic and imported, during 1949 and 1950. The statement follows: Months February................ March..................... April......................... May......................... June......................... July. ..................... September.............. November.............. December............... P SPECIFIC TAXES PAID ON CIGARETTES Domestic Imported 1949 1950 1949 1950 364,913.02 337,281.70 365,871.49 298,755.80 454,635.00 472,719.00 261,468.45 280,821.40 280,184.00 338,149.25 325,707.35 386,428.00 P 611,449.56 749.200.00 928,566.50 1,164,525.61 2,375,931.38 1,502,264.66 1,996,857.20 3,623,755.05 3,946,027.48 4,147,221.19 3,080,428.19 3,878,683.68 P 5,839,687.05 4,421,219.68 5,037,161.04 5,664,184.48 P 2,771,098.13 5,116,521.00 5,275,142.19 4,906,780.92 4,694,552.62 4,734,333.04 3,437,479.38 5,580,627.88 4,236,986.90 1,335,901.85 845,301.33 833,304.00 1,300,952.28 1.551.158.12 1.788.203.13 3,395,682.97 . . P 4,166,95446 P28,024,910.52 P58,944,676.18 P22.563.337.18 TOTAL LOVSTED AT YOUR PRODUCTS SERVICE TIGER BRONZE BUSHINGS & CASTINGS PAL-WELD COMPOUND MO-LO RING STOCK & CASTINGS SUGAR MILL & LUMBER MILL PARTS ROYAL STEEL CASTINGS ROTTLER BORING BARS LOVSTED BABBITTS, SOLDERS & LADLES SHAFER PILLOW BLOCKS ROYAL BLUE IRON CASTINGS TOOTS-E WHISTLES & SIGNAL SYSTEMS MANGANESE CASTINGS TOOLSTEEL GEARS, PINIONS, ETC. DIAMOND ROLLER CHAIN & SPROCKETS RAIL & TRACK MATERIALS DIAMOND FLEXIBLE COUPLINGS CANE CARS & CAR PARTS NORTH COAST DRY KILNS LOCOMOTIVE PARTS SPRINGS—COIL & LEAF On Any of Your Other Requirements, Please Write Us. C. M. LOVSTED & CO., (Manila) LTD. 101, 13th St., Corner Boston, Port Area, Manila — Telephone 3-32-40 Represented by SMITH, BELL & CO., LTD. in Cebu—Iloilo—Bacolod—Davao—Legaspi May, 1951 AMERICAN CHAMBER OF COMMERCE JOURNAL 165 As my readers will notice, domestic cigarettes paid in 1950 approximately P24,000,000 over 1949, while im ported cigarettes paid approximately P35,000,000 less in 1950 than in 1949. This year, domestic cigarettes will pay from two to two-and-a-half times as much as during 1950. During the first three quarters of 1950 most local cigarettes were classified under the low selling-price bracket and paid Pl.50 per 1000 cigarettes, and only a small proportion paid P3.00. Last September, taxes on locally manufactured cig arettes of imported leaf were increased, in accordance with the retail selling price, to P6, P8 and P10 per 1000 cigaret tes. The law was again amended early this year, and now all locally manufactured cigarettes of imported leaf pay P10 per 1000, regardless of selling price. Imports By S. SCHMELKES Mercantile, Inc.' ALL figures are in kilos with the exception of those for foodstuffs which are given in package units. Commodities March, 1951 Automotive (Total).................................... 653,802 Automobiles.............................................. 194,196 Auto Accessories..................................... 2,883 Auto Parts................................................ 184,223 Bicycles.................:................................... 1,561 Trucks........................................................ 7,261 Truck Chassis.......................................... 119,642 Truck Parts.............................................. 46,050 Building Materials (Total)...................... 2,206,316 Board, Fibre............................................. — Cement....................................................... 52,218 Glass, Window......................................... 684,330 Gypsum...................................................... 140,613 Chemicals (Total)....................................... 10,788,260 Caustic Soda................ 392,556 Explosives (Total)......... ........................ 176,807 Firearms (Total).......................................... 7,677 Ammunition....................................... 7,398 Hardware (Total)........................................ 4,029,054 Household (Total)............................. 835,165 Machinery (Total)............................. 1,646,746 Metals (Total)....................................... 4,674,815 Petroleum Products (Total).................... 71,172,760 Radios (Total).............................................. 7,706 Rubber Goods (Total)............................... 918,850 Beverages, Misc. Alcoholic...................... 5,627 Foodstuffs (Total Kilos)........................... 36,512,466 Foodstuffs, Fresh (Total)......................... 77,561 Apples......................................................... 12,556 Oranges....................................................... 25,509 Onions......................................................... 8,085 Potatoes..................................................... 17,395 Foodstuffs, Dry Packged (Total)........ 36,683 Foodstuffs, Canned (Total)...................... 399,831 Sardines................................................. 118,092 Milk, Evaporated................................... 89,051 Milk, Condensed................................... 69,884 Foodstuffs, Bulk (Total).......................... 627,353 Rice............................................................. 102,070 Wheat Flour............................................. 476,791 Foodstuffs, Preserved (Total)................. 23 March, 1950 1,713,399 48,612 535 238,614 152 73,845 425,787 ■ 49,124 12,980,053 575 8,306,976 799,943 134,673 5,552,042 1,103,278 60,200 6,191,480 566,712 2,213,805 10,647,783 46,848,701 ' 26,998 1,106,400 7,212 23,923,466 89,873 16,899 13,050 17,000 13,288 8,763 239,438 2,100 147,710 50,600 550,550 794 489,676 174 . then I’ll have STILL MORE POWER!” Bottling, Misc. (Total)............................. 671,031 Cleansing and Laundry (Total)............. 35,982 Entertainment Equipment (Total). . . . 3,580 Livestock-bulbs-seeds (Total)................. 2,349 Medical (Total)............................................ 333,216 Musical (Total)........................................... 26,886 Office Equipment (Total)......................... 53,724 Office Supplies (Total)............................... 49,570 Paper (Total)......................................... 4,277,270 Photographic (Total)................................. 42,490 Raw Materials (Total).............................. 580,879 Sporting Goods (Total)............................. 23,083 Stationery (Total)....................................... 215,274 Tobacco (Total).......................................... 302,237 2,700,258 925,349 1,479 2,600 574,230 12,075 161,335 53,287 7,062,106 90,569 288,106 8,820 306,955 489,487 Looking into the future we have seen the need for additional generating capacity. Another 25,000 kilowatt unit has been ordered to supplement the two units recently installed in our new Rockwell Station. There will then be MORE POWER for your homes, stores and industries-MORE POWER for the fur ther economic development of the Philippines. MANILA ELECTRIC COMPANY 134 San Marcelino Manila

pages

164-165

Media