By courtesy Gijectman & Stenp Sourabaya, Aug, 3.
During the week prices on the local market did not vary much, and practically speaking business only consisted of purchases from the VJ.P. and from non-associated ils. From agcond hand nothing is doing, only small lots of ready delivery' and a few unimportant parcels for forward delivery char ing hands at, prices below the pr sent limits of the V.J.P.
The total turnover from second hand during the interval amounted to about 1,000 tons Whites at prices of F.9.15 for ready Sourabaya, Foy for ready Tegal and Pekalongan; F.885 for October Sourabaya and F.8i for October-November, equal monthly quantities, delivery Probolinggo.
The rest of the business was done at first hand the V.J.P. disposed of 82,000 tons Whites, 18,000 tons Browns and 12,400 tons Molasses.
The first sales of Molasses took place on July 31 when 10,200 tons sold at F.6.50 for Nos. 8/9 and F.7 for Nos. 10 and higher.
Non-Associnted Mills disposed of about 3,500 tons Molasses at from F.7 to F.7.80 for Nos. 10 and Although more demand arose for sugars in first hand, sales are still disappointing. During July total e sales by the VJ.P. were as follows: 112,645 tons of 1,000 kilos, divided as follows:—65,258 tons Whites, 37,187 tons Browns, 10,200 tons Molasses, against an estimated production at the mills of 631,883 tons of 1,000 kilos, divided as follows:—445,297 tons' Whites, 1,397 tons superior soft sugar, 180,408 tons Browns, 4,781 tons Molasses.
Calculating the daily production of the Associated Mills at about 20,000 tons, the above mentioned sales show that the V.J.P. was only able to sell the production' of five and a half days in July, the rest having: had to be stored, Sales, therefore, must increase heavily if an enormous stock is to be avoided, ax the estimated produce tion in August (639,614 tons) and September (517,181 tons) will still be very big, and a decrease will only set in October.
Although Java has so far been the only seller in British India, [competition of European sugars to be feared from October to Apri next year, and from telegrams received during the week from London, it will be soon that this competition has already started, a fon August 1 London cabled that European sugar was offered to British India for August/September shipment at 7/9 por cwt, in single bags, against Javas for August at 8/45" (telegram of July 28 from London).
The London and New York markets were weak right up to the August 1, when a slight improvenient occurred, due to the rumours that Cubs would restrict crop 1931 by, 30 per cent, The Experimental Station reports that in many districts some showers were experienced during the second half of July, although these were generally of little importance. The weather was frequently cloudy and exceptionally results—when bearing in mind ther conditions—eontinuc the 173 pradaction statements, which have been received, 93 are higher and 78 lower than those of last year.
One hundred and eight mills have made progress when compared to the preceding peried, whilst the production declined in 7 cases.
Seventy-nine factories, equal 46 per cent., have now attained a production of more hun 150 quintals crystal per hectare, which was the. case with 79 estates, equal to 45 per cent., last year.
Text read from the printed page and cleaned; old type leaves the occasional error.