September sugar review

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Part of The American Chamber of Commerce Journal

Title: September sugar review
Creator: Fairchild, Geo H.
Language: English
Source: The American Chamber of Commerce Journal Volume 6 (Issue No.10) October 1926
Year: 1926
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Fulltext: October, 1926 THE AMERICAN CHAMBER OF COMMERCE JOURNAL 27 TOBACCO REVIEW By P. A. Meyer Alhambra Cigar and Cigarette Manufacturing Co. RAW LEAF: No important develop ments in the local market can be re ported for Septem ber. Buying, in li mited quantities, in a few Ysabcla dis- . tricts, has been started toward the latter part of the month by some of the local factories. Local dealers have ilready received parcels of the new Cagaran and Ysabela crops but so far no im>ortant transactions resulted. The export >usiness is very quiet, only one fair sized •onsignment to France being noticeable. Shipments abroad during September are as ollows: Leaf Tobacco and Scraps Kilos Australia ................ . ...’ 481 China ...................... ........ 3,207 France .................... ........ 574,080 Holland ................... ........ 105,895 Hongkong ............... ........ 4,140 Indochina ............... ........ 53 United States ........ ........ 43,011 730,867 CIGARS: September shipments to the United States show a decrease of nearly 40% over the corresponding 1925 figure, a result of the cigar-makers’ strike, which was terminated only on September 27. The laborers returned at the old wages with the understanding that committees of manufac turers and cigarmakers, to be appointed, would work out a reduced schedule of wages, to become effective after November 6. Comparative figures for the trade with the United States are as follows: Cigars__ September 1926 ........ 13,758,438 August 1926 ........ 13,579,849 September 1925 ........ 21,812,973 THE RICE INDUSTRY By Percy a. Hill of Munoz Nueva Ecija, Director. Kice Producers' Association, Prices for palay have taken a slight downward trend at a time when they ordinarily increase Rice as a consequen ce has also decreas ed in price in the consuming centers and ranges from P9.40 to 9.70 per sack according to grade. The reason given is that stocks held for the European market remain un called for in Indo-Asia, hence a small de crease in price accelerates trade. The present outlook for the Philippine crop is good, but weather conditions, as always, will predicate the full or partlly filled breadbasket. The new irrigation systems will of course insure the crop returns based on moisture properly distributed but plant ers in the areas affected have not as yet got into the game of selecting a seed that will give greater returns-which after all will be based on the actual ability to de liver the water as per contract. The field for chemical fertilizers for the rice producer is opening up, but sales of these will be-based on the old economic law of returns in proportion to costs. Ad vance by trial and error will rule for some years until a fertilizer is evolved that will satisfy both Philippine soil conditions and the pockets of the producers, all of which will connote an advance for our basic in dustry. In reference to this we might say the Philippines are handicapped by freight conditions except when the fertilizers are shipped in their more concentrated form and mixed by capable chemists who are familiar with Philippine conditions. Their universal use will of course increase yields, which after all is the vital need of the rice in dustry. A bumper crop of rice will of course result in a lowering of price and all other industries will benefit by this factor. Again in some cases areas will be abandon ed to grow export crops which promise to render greater returns. A rise in the price of the cereal would again cause these to be planted to rice, and so it goes. Not only do we need stability in the political future but we also need stability along agricultural lines well, all of which is no doubt due at a not very distant day. SEPTEMBER SUGAR REVIEW By George H. Fairchild NEW YORK MARKET: The New York spot mar ket during the month of September has ruled steady and firm with prices on the upward trend. The market opened at the be ginning of the month with sales of Cubas at a price of ZVtC c. & f. equiva lent to 4.27<J landed terms, duty paid, for Philippine centrifugals. This price was maintained throughout the first week. To wards the second week the market took an upward trend and substantial quantities of Oubas were sold on the basis of 2%<? c. & f. or 4.40£ landed terms, duty paid, for centrifugals. The market continued strong and steady with advancing prices toward the latter half of the month and Cubas were sold at prices ranging from c. & f. to 2-25/32^ c. & f. Toward the close of the month prices again ad vanced to 2%(' c. & f. for Cubas, equivalent to 4.65^ landed terms, duty paid, for Phil ippine centrifugals, the highest price ob-, tained for sugar since April of last year. Stocks in the U. K., U. S., Cuba and five principal continental countries at the end of September were 1,940,000 tons as com pared with 1,550,000 tons at this time last year and 810,000 tons in 1924. It is to be noted from these figures that there has been a decrease of visible supplies of 1,010,000 tons from those of the previous month as compared with a decrease of r NOTEi 'THESE1! i facts; A Means to an End. WE often hear the expression “I need glasses." This is quite true in a way, but the thing that is needed before glasses is advice—competent, professional advice—such as CLARK & CO. Optomet rists are able to give. Glasses or lenses are only the means of translating correct optical service into con crete usable form. at Always the best in quality but never higher in price. Washington Grocery NG TIP & COMPANY Exclusive importers Colonial Brand Best German Export Beer Light Wines and Liquors 207-209 ECHAGUE PHONES/ 1065 IN RESPONDING TO ADVERTISEMENTS PLEASE MENTION THE AMERICAN CHAMBER OF COMMERCE JOURNAL 28 THE AMERICAN CHAMBER OF COMMERCE JOURNAL October, 1926 640,000 tons for the same month in 1925 and 850,000 tons in 1924. This may ac count for the decided improvement in the market for the month under review, as it is apparent that the surplus of visible stocks is disappearing at a satisfactory rate. It is believed in some quarters that the world’s invisible supplies are undoubtedly below normal, and that in spite of the ap parent large visible supplies, the total world’s supplies, visible and invisible, are not much larger than those of previous years. Quotations for futures on the New York exchange have steadily advanced during the month. These follow: High Low Latest December ........ ........ 2.90 2.59 2.88 January ........... ........ 2.91 2.63 2.90 March ............. ........ 2.83 2.60 2.83 July ................. ........ 2.98 2.91 2.98 September ....... ........ 3.06 2.99 3.06 Sales of Philippine centrifugals, near ar rivals and afloats, were made at prices ranging from 4.30(? to 4.65? landed terms. The market for refined has shown mark ed improvement, latest quotations ranging from 5.90? to 6.00? as compared with those of the previous month ranging from 5.60? to 5.70?. LOCAL MARKET: The local market for centrifugals has been quiet for the first half of the month, but steadied toward its close. Transactions of centrifugals were made at prices ranging from Pl 1.00 to P11.25 per picul. The market for muscovados has been quite active during the month, prices paid for No. 1 ranging from 6.50? to 7.50?, with 25? down per grade. Shipments of Philippine sugar to various LUMBER REVIEW FOR AUGUST By Florencio Tamesis Acting Director, Bureau of Foreetry The activities of the sawmill oper ators during the month of August were practically the same as those re ported in the month of July. In other words, the slacken ing of the lumbering activities due to the rainy weather is still manifest. But it can be seen from the following figures that the production and movement of lumber for this month are considerably greater than those of the TIMBER AND LUMBER EXPORT Destination United States ...................................... Japan .................................................... Australia .. ........................................... Great Britain ...................................... Netherlands ......................................... China .................................................... Italy ..................................................... Canada ................................................. Egypt ................................................... Other British ...................................... East Indies ...................................... Total ........................ 6,007,232 P431.582 4,128,064 P269.878 countries from January 1 to September 22, 1926, are as follows in metric tons: U. S. U- S. China & Pacific Atlantic Japan Total Centrifu gal .. 45,056 244,012 289,068 Muscova dos .. .. 62,045 62,045 Refined 1,645 .. 139 1,784 1(5,701 244,012 62,184 352,987 Negros in general reports favorable weather prevailing during the month, with plenty of sunshine and seasonable rains at intervals; in some localities, however, there has not been sufficient rain. With a con tinuance of favorable weather hope is ex pressed for another bumper crop on that island. In view of the expected large crop this coming season, milling will commence earlier this year than has been case in pre vious years. Some of the large centrals will begin grinding in October. Luozn also has had favorable weather, and it is expected a good crop will be har vested this season, although it may not be as large in certain districts as that har vested in the previous year. Work on the new mills is being pushed. The Bataan Sugar Company announced that their central at Balanga, Bataan, will be completed by next December, while the Central Luzon Milling Company which is erecting a central at Bamban, Tarlac, re ported that their mill will begin grinding next January. The Philippine Sugar Association had a very sucessful convention during the week of September 6 to 10. About 150 sugar men from the different sugar districts of the Islands attended. Many important pro blems affecting the sugar industry were discussed, and means of solving them re commended. Among the resolutions passed by the convention were: corresponding period last year. For ins tance the mill production reported from 33 mills for the month of August amount to 15,917,770 board feet; lumber shipment, 16,432,927 board feet; lumber inventory, 31,441,791 board feet as compared with 13,921,620 board feet, 14,066,293 board feet, and 37,292,298 board feet, respectively, for the corresponding month in 1925. The corresponding figures for the month of July of this year are as follows: mill production, 12,392,269 board feet; lumber shipment, 16,894,075 board feet; and lumb er inventory, 32,030,829 board feet. These figures indicate, as has been stated above, that the activities of the sawmills for the month of July were practically the same as those of August. The value of our lumber export for Aug ust is about P20.000 less than that of July, but about Pl62,000 greater than that of August of last year. The exact figures of our export for August of this year and August of last year are shown by the fol lowing table: 1925 August 1926 August Board Feet Value Board Feet Value 2,922,208 P263.226 1,803,272 Pl 72.984 2,024,176 ’ 76,506 1,043,464 22,810 676,280 67,423 524,488 27,964 288,320 16,407 53,000 5,273 49,184 4,270 12,720 1,100 43,672 3,652 13,922 1,836 3,392 100 10,600 900 636,424 34,008 30,104 3,003 (1) Urging the conversion of La Granja in Negros into an experiment station for the Philippine Sugar Association. (2) Requesting the legislature to renew the charter of the Bank of the Philippine Islands, provided 60 per cent of its capital be devoted to agricultural loans. (3) Asking the legislature to lift the ban on importation of foreign carabaos. (4) Providing for the study of sugar cane varieties giving the greatest yields. (5) Providing for the continuation of the soil survey work of the sugar centrals. (6) Creating a committee to study the means of raising the food nutrition of laborers in the sugar plantations in order to produce greater efficiency. (7) Providing for the study of improv ing the general health and sanitation of the sugar planters. (8) Creating a committee to study the most practical plan of accounting for the centrals. (9) Providing for the holding of a con test among certified public accountants to PROVINCIAL ADVERTISING PHILIPPINE EDUCATION MA6AZINE reaches 25,000 teachers in 49 provinces, and the educated English-speaking class, the leaders of 13,000,000 people, every month. These teachers have a pur chasing power of considerably more than Pl,500,000a month. e/4re you going after their trade? Have you seen a copy of Philippine Education Magazine lately? Clifford Butler—Advertising Manager PHONE 2-21-31 Philippine Guaranty Company, Ing. (Accepted by all the Bureaus of the Insular Government) Executes bonds of all kinds for Customs, Immigration and Internal Revenue. DOCUMENTS SURETYSHIPS For Executors, Administrators, Receivers, Guardians, etc. We also write Fire and Marine Insurance Low rates lberal conditions ocal Investments oans on real estate repayable by monthly or quarterly Instalments at ow interest Call or write for particular! Room 403, Filiplnas Bldg. P. O. Box 128 Manila, P. I. Manager's Tel. 22110 Main Office Tel. 441 IN- RESPONDING TO ADVERTISEMENTS PLEASE MENTION THE AMERICAN CHAMBER OF COMMERCE JOURNAL
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