CHEAPER SUGAR

Sun (Auckland), Volume III, Issue 683, 7 June 1929, Page 10

CHEAPER SUGAR

REDUCTION OF 10/- A TON LOWEST PRICE SINCE 1914 A further reduction in the price of sugar, the third this year, is announced by the Colonial Refining Cornpar- The new price of £l9 10s a ton is the lowest since 1914. On December of that year the price was raised from £l9 7s 6d to £2O 2s 6d a ton. Prices rose steadily during the war and post-war years, reaching the peak in July, 1920, when the quotation was £47 10s. or almost two and a-half times today's rates. This peak price was maintained until November, 1921, when there was a sharp drop to £35 10s. Prices fluctuated considerably in following years, but the general trend was downward. Thus in 1922 the rate was down to £27 15s, but in 1924 had risen again to £35. A steady decline a, series of reductions bringing the price down to £22 in November, 1925. By December of the following year the price had risen again to £2i> 10s. Since that date the downward tendency has been steadily resumed, there being four reductions of 10s a ton each in 1927, five in 1925, and three in the current year to date. The prices quoted are the wholesale rates for No. 1A sugar, the popular table grade. The latest reduction to £l9 10s a ton applies from today to all grades of raw and refined sugars with the exception of table and icing sugars, rates for which remain unchanged.