CHEAPER SUGAR

Sun (Auckland), Volume IV, Issue 953, 22 April 1930, Page 11

CHEAPER SUGAR

WHOLESALE PRICE REDUCED BELOW 1914 LEVELS A reduction ot los a ton in the wholesale price of sugar is announced by the Colonial Sugar Reflning Company. Although the movement is in the right direction. It is not likely that the householder who buys just a few pounds at a time will benefit to any extent, as the difference in tike wholesale price a pound is equivalent to approximately one-eighteenth of a penny. This week’s reduction brings the price below the rate which ruled at the end of 1914. On December 22 1914. the price was raised from JEI9 7s 6d a ton to 1.20 2s lid, compared with 119. the rate current in Auckland today. Prices rose steadily during the war and post-vvur years, reaching the peak in July. 1920, when the quotation was £47 10s. exactly two and a-half times today’s rate. This peak price was maintained until November, 1921. when there was a sharp drop to £35 10s. Prices fluctuated considerably in the following years, but the general trend ■was downward. Thus, in 1922. the rate was down to A’27 15s, but in 1924 it had risen again to X 35. A steady decline followed, a series of reductions bringing the price down to £22 in November, 3925. hy December of the following year the rate liifd risen again to £25 10s. Since that date the downward tendency has been steadily resumed, there being lour reductions of 10s a ton each in 3927, five in 3928, three in 1929 and one in the current year to date. The prices quoted are the wholesale rates for No. 1A sugar, the popular table grade. The latest reduction of 30s a ton applies from today to all grades of raw and refined sugars with the exception of tablet and icing sugars, tb Lies for which were reduced on April 1.