SUGAR SUPPLIES

Wairarapa Times-Age, 14 October 1939, Page 9

SUGAR SUPPLIES

NO INCREASE IN PRICE. ARRANGEMENT WITH SUGAR CO. (By Telegraph—Press Association.) WELLINGTON, This Day. An announcement that the Government had just concluded an arrangement with the Colonial Sugar Refining Co., Ltd., which would ensure fulfilment of the Dominion’s sugar requirements for almost 'a ye'ar hence was made last night by the Minister of Supply, Mr Sullivan. There will be no increase in Hie price of sugar to the consumer. “The sugar market in recent months has been uncertain, due to countries stocking up in anticipation of war,” said Mr Sullivan, “but immediately after the outbreak of war world prices hardened considerably. The British Government acquired all Empiregrown sugar, paying a price considerably higher than the price at which Java raw sugar had been acquired for New Zealand. The Dominion’s requirements for four months hence had been covered with Javan purchases, but shipping difficulties have necessitated falling back on Empire-grown supplies. “By averaging the price of the new purchase at the higher price with the cheaper price of raw sugar at present in stock, it has been possible to avoid any increase in the current retail price of sugar to the public, which is 4d a lb. at main centres,” said Mr Sullivan. “This had been effected by an arrangement whereby the Colonial Sugar Refining Co., Ltd., will receive a smaller margin of profit, the wholesale merchant will have his commission pegged at the amount he received a ton on September 1 when the War Emergency Regulations came into effect, and the retailer’s margin will be slightly diminished.”