PRICE OF SUGAR

Dominion, Volume 14, Issue 201, 20 May 1921, Page 4

PRICE OF SUGAR

NO SIGNS OF REDUCTION IN AUSTRALIA.

The Commonwealth sugar controller (Colonel Oldershaw) does not agree with the statement made at the half-yearly meeting of shareholders of the Colonial Sugar Refining Company to the effect that it was not expected that the jf sugar from the present crop would wholly cover consumption in Australia until the 1922 crop was available. Colonel Oldershaw says that it is expected that Australian requirements will be wholly met by . the present crop, and there' will lie no more purchases or sugar from overseas. It was stated some weeks ago, by officials of the Sugar Producers’ Association, that the present crop would yield 280.000 ton. 9 of Ungar. and that the Australian consumption, was less than 300,000 tons. Ample supplies of sugar are now available in direct; contrast to the position twelve months ago. .The cost to the Commonwealth Government, which still maintains control over all sugar supplies, has decreased substantially ot late, but the fixed retail price of 6d. a pound remains. This is said io be necessarv as a set-off against the losses on importations made by the Government during the period' when sugar was bringing such high rates, and during which the retail price in Australia was kept at Gd. a pound, though on the wholesale cost more should have been chaiged. These foreign importations have fiow ceased, but it is not considered likely that there will be a reduction in the retail price of sugar for at least two years by which time the deficit will he wiped out. It is claimed that control has meant a uniform price to the householder. instead of a prohibitive price at any one stage—Melbourne “Argus.”