SUGAR PRICES WILL HOLD.

Taranaki Daily News, 11 January 1921, Page 5

SUGAR PRICES WILL HOLD.

IMPORTS FROM JAVA TOO SMALL. 5000 TONS STILL REQUIRED. A reduction in the price of sugar, retail, is not likely yet, neither will the amount imported from Java or available there make much difference to New Zealand for months to come. Such is the opinion of Mr. W G. McDonald, chairman of the Board of Trade, who was asked as to the possibility of the Java importations (now proceeding) affecting prices for the consumer. “The largest importation into New Zealand to date has been only 500 tons at a price considerably over £lOO a ton. Within the last few days much lower quotations have been received in the Dominion—some as low as £7lO, but the quality of this sugar is unknown, though for household use it is no doubt all right. “However, supplies all over the world are still short, due to the damage done the beet sugar industry in Europe during the war. and that shortage has yet to be made up Even if we import a thousand tons into New Zealand from Java it will merely ease the situation. ! or we could do with five times as much the present demand would be filled.”