PRODUCTION OF SUGAR

Wairarapa Times-Age, 1 June 1939, Page 7

PRODUCTION OF SUGAR

AUSTRALIA’S RECORD OUTPUT CONSUMPTION SHOWS SLIGHT FALL. THE RECENT PRICE INCREASE. By Telegraph—Press Association —Copyright SYDNEY. May 31. The Colonial Sugar Refining Company’s total output of raw sugar in Australia last season was 794,454 tons, which exceeded the record production reached in 1937. Consumption, however, was slightly less per head of the population than in the previous year. It was necessary to export overseas 44.172 tons as a surplus of raw sugar, while the net return on it was slightly less than in the previous year. During the past few months there has been a sharp rise of approximately 40s a ton in the world’s sugar market, but this has given no direct benefit to the Australian industry, because the increase occurred after the last consignments of Australian sugar were sold overseas. In any case, the rise was only temporary, and was due to an artificial shortage, and the world’s desire to build up emergency stocks. These facts are contained in the company’s report, the adoption of which the chairman, Mr E. R. Knox, moved at a meeting of shareholders in Sydney today. Mr Knox emphasized that the company would enjoy an indirect benefit in the shape of an increase of 50,000 tons in the Australian export quota, which would be most helpful in disposing of the abnormally large production in sight in the coming season. Mr Knox added that the pineapple industry in Fiji was most promising. The cannery mere yielded 8500 cases during December and January, and it would be necessary to increase the capacity of the cannery, so encouraging was the undertaking. The report was adopted. Dr E. W. Fairfax was elected a director.