The Sugar Market.
BOARD OF TRADE STATEMENT. [BA TKLEGItAPH —PEE PRESS ASSOCIATION] WELLINGTON, July 13 An important bulletin lias been issued by the Board of Trade dealing with the Dominion’s sugar supply. It contains a comprehensive survey of the world s sugar position.
The statement defends the Govern ment’s contract with the Colonial ’ugar Refining Company, ft claims there has been a net saving to New Zealand consumers under the existing contrne:. in comparison with the world’s prices, aggregating in the region of £900.000. It claims that this, added to savings stated to he just over £4,000,000 on the previous arrangements, makes a tom saving to New Zealand consumers, as compared with the users of sugar in other parts of the world, of about £0,000,000 in the past six years. Summarising the position, the statement says: “The definite contract between the Government and the Colonial Sugar Refining Company has provided for: (1) a goad supply of sugar, considerably in excess of that available in other countries of the world ; and, (2) important price advantages by reason of the fixed retail price being less in comparison with other countries, and the market stabilised.” HEAVY STOCKS AT CHELSEA. AUCKLAND, July 12 A statement that the Colonial Sugar Refining Company lias some thousands of tons of refined sugar in stock at the Chelsea works was made by the works manager, Air A. Campbell, under crossexamination during the bearing of the sugar workers’ dispute at Auckland last Thursday. Air Campbell said the cause of the accumulation was simply that the public was not buying sugar. Tlic contract with the Government would expire at the end of this month, and what would happen then lie was unable to say. There was. .however, a general co'nviction, on more or less reliable grounds, that there would be a reduction in the price. In answer to Air ■Justice Frazer, witness said .lava sugar had also been a disturbing factor, Imt lie did not think it would bo so any longer. •>
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Hokitika Guardian, 14 July 1921, Page 4
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332The Sugar Market. Hokitika Guardian, 14 July 1921, Page 4
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