HIGH PRICE OF SUGAR

Gisborne Herald, Volume LXVI, Issue 19998, 25 July 1939, Page 11

HIGH PRICE OF SUGAR

ARTIFICIAL SHORTAGE NATIONS HOLD STOCKS SIR U. GOLDFINCH'S VIEWS (Per Prtiss Association.) AUCKLAND, this day. “Sugar prices at present are high because of the artificial shortage brought about by the desire countries to have reserve stocks, said Sir Philip Goldfinch, general manager of the Colonial Sugar Refining Company, Limited, when he arrived from Sydney by the Mariposa yesterday, on his way to Fiji on a business visit Sir Philip said the desire by some countries to have sugar reserves was due to the international situation.

“There are already .signs that prices will return to something like th 2)' were before the advances started,” he added, “but it is impossible to say when the position will correct itself. Sir Philip said the Australian sugai crop this year was going to be paiticularlv heavy—much larger than was last year. However, this would have no effect upon world pi ices, liecause Australian exports were only a “drop in the bucket” compared wit." the world consumption. After spending several weeks at the company's properties in Fiji, Sn Philip will return to Australia by the Mariposa on its next voyage south, ft' will not break his journey at New Zealand, but he said he might visit the Dominion later in the year.