PRICE OF SUGAR

Dominion, Volume 12, Issue 238, 2 July 1919, Page 6

PRICE OF SUGAR

A' RISE OF 355. "PER TON. By arrangement with the Government, the Coloniaii Sugar Refining Company has agreed to keep the price of sugar at .£23 155., f.o.b. Auckland, from July 1 to March 31, 1920, for No. 1A sugar, 'l'o manufacturers, camps, and troopships the price will be X2l 15s. If fresh taxation (except land and income tax) is impoed on the company, it shall bo at liberty to revise the selling prices of sugar to»meet such increased taxation, An agreement between Government and the sugar company made on April 12, 1918, expired on June 30, 1919, but this has entailed a loss to the company, which has been compelled to arrango for imports from Java to make good the deficiency in their Fiji refining. The sugar to'be imported from Java, will cost per toil ex chip's slings at Auckland, and could not be sold under .£29 10s. pei ton. In order to meet this loss the company proposes tho new Agreement for nine months only. Tlio loss is estimated at -.£35,000 for the current month of July; Manufacturing costs have a.so increased, and cool is tho main factor. It is claimed -that New Zealand sugar at Aucklaud at .£23 15s. is .£5 10 s. cheaper than in New South Wales, .£5 121 Gil. cheaper than in Victoria, os. bd. cheaper than in South. Australia, anu J!" 5?. cheaper than in Western Austra* lia, and .£23 15s. per ton cheaper), or halt the price, in Great Britain. In July, 191G, the price of No. 1A sugar at Auckland was *£20; a year later it was <£21 per ton. .