Sugar

Title

Sugar

Creator

Jamieson, S.

Language

English

Source

The American Chamber of Commerce Journal Volume XXIV (Issue No.5) May 1948

Year

1948

Rights

In Copyright - Educational Use Permitted

Fulltext

174 AMERICAN CHAMBER OF COMMERCE JOURNAL May, 1948 Philippine pressings do not seem to have perturbed United States buyers, who have been able to obtain increased quantities of Central American abaca at relatively cheaper prices than those at which Philippine abaca was available. Production for March, measured by the official gov ernment pressings, showed a sharp decline. Davao balings for March were 14,863 bales, and non-Davao, 44,635 bales, making a total for the Islands of 59,498 bales, compared with 71,125 bales for February. This brings the total pro duction for the first quarter of 1948 to 189,959 bales, com pared with 172,321 bales for the same period last year. April production for Davao is likely to be somewhat higher than that of March, but a decline is expected in non-Davao districts which is likely to result in the April pressings being even lower than those of March. Sugar S. Jamieson Acting Secretary-Treasurer, Philippine Sugar As sociation SALES of Philippine export sugar continued to be made in the New York market as opportunity offered at 5.50i for shipment during the months of April to August, inclusive. Toward the close, this price was not obtainable, and a few sales have been made at 5.45^. Send it by Prices for domestic sugar improved dqring the month on the sale of fairly large parcels to local soft-drinks manu facturers, and dealers are now willing to give up to P16.50 per picul, delivered Manila, for the regular grade of centri fugal sugar. Sponsored by the National Federation of Sugarcane Planters, the Sugar Producers’ Marketing Agency has been formed, with branches at present in Cebu, Bacolod, and Iloilo, for the purpose of pooling the sale and distribution of planters’ domestic sugar with a view to stabilizing prices in the local market. Quotations on the New York Sugar Exchange for the period from March 15 to April 12, 1948, under Contracts Nos. 4 and 5, ranged as follows: High Contract No. 4 (World Market) May, 1948................4.53 July ” ................4.50 Sept. ” ............... 4 50 March, 1949................3.90 May ” ................3.90 Low Close Sales 4.10 4 10 15,900 tons 4.15 4.15 5,050 ” 4.12 4.12 10,600 ” 3.60 3.60 1 1,600 ” 3.65 3.65. 800 ” 33,950 tons Total......................................................................... Clipper Cargo offers fast delivery to 6 con tinents. And we route your goods straight through to any place in the U. S.—any place in the world—on one PAA airway bill. Clipper flights are frequent—al ways dependable. Clipper Cargo offers extra low rates on bulk shipments of 100 lbs. or more. And careful handling reduces packing and crating cost. Contract No. 5 May, 1948.................5.09 July ” 5.08 Sept. ” 5.08 Dec. ” ................5 04 March, 1949.................4.78 May ” — 4.91 4 * 91 59,350 tons 4.90 4.90 36,650 ” 4.93 4 93 44,750 ” 4.95 4.95 3,600 ” 4.73 4.73 1,300 ” — 4.54 — 145,650 tons Total......................................................................... Tobacco By the Conde de Churruca Compahia General de Tabacos de Filipinas THE tobacco buying season is about to open in the provinces of Pangasinan, Union,. Ilocos, and Cebu. The total production in each of these 'provinces is more or less as follows: Pangasinan...................................................................... La Union......................................................................... Ilocos................................................................................. Cebu.................................................................................. 20,000 quintals 34,000 5,000 20,000 Between san Francisco and manila, bulk shipments are carried by the new all-cargo Clipper, Pacific Trader . . . supplementing regular Clipper Cargo schedules. Manila Hotel Phones.......... 2-97-96 — 2,-79-01 Downtown Office Phones .. 2-92-61 — 2-92«-05 Airport Phones..................... 5-10-75 — 5-12-65 World Airways c~'lle ffyWem of Clippers Besides the foregoing, the first two provinces produce an extra 7,000 quintals in "Batec” tobacco. This is much appreciated by the people, and is sold in the markets leaf by leaf. The Cagayan Valley crop comes in later, and will not be sold until June or July. It has been very greatly re duced by floods and typhoons, and will run to around 80,000 quintals only. The prices will be around last year’s, but may very well be higher in some localities. It is too early to predict them yet, and the needs of local manufacturers will in fluence their oscillations. Exports are very few, and quite a number of sales to foreign governments have not been closed because of lack of dollars.

pages

174

Media