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The sleeve price that sugar here will climb to about $2.20 because that a five‐pound bag after job Day native the current shelf selection of between $1.79 and $1.89. The price a year ago was about 89 cents.

According to street brokers yesterday, the enhanced price will certainly reflect merely the higher costs the raw street being payment by the refiners.

This week the major refiners announced the the price of bulk sugar to commercial users would go up by 2 cent a pound, to practically 39 cents.

Given the cost of refining, packaging and also transporting the commodity to the retailers and also the normal markups, the store price have to be in between $2.20 and also $2.30 within two weeks, or as soon as current stocks room replaced.


Meantime, sources in Washington reported the the room of agriculture was studying the possibility of eliminating import quotas prior to they were because of expire Dec. 31.

If so, the would typical that any type of foreign nation with diplomatic relationships with Washington would be able to send that is sugar here without restriction.

However, most brokers here, worried about losing their profession to competing vegetable and also chemical sweetners, doubt the the lifting of share would aid much.

Situation Explained

“The producers space holding back supplies,” one broker noted. “They want more money. Lock need much more money to pay for imported oil and other points today. Remember, most sugar‐producing floor are poor lands.”

Besides, another broker said, the united States must now contend with the rest of the people for supplies. Actually, sugar consumption here functions out to about 102 pounds per capita a year, contrasted with, say, 10 pounds in China.


While consumption in this nation has remained mainly static in recent years, that is climbing quick elsewhere. Meanwhile, higher labor prices have included to residential cane street production, while bad Weather has diminished the beef sugar output this year. Also, numerous sugar‐beet growers have switched to soybeans and other plants this season.

Over‐all the world sugar calculation for the 1973‐74 crop year is meant to with 81.8 million metric tons and also consumption is estimated at 81.3 million.

Elsewhere in the commodity markets, many prices of key raw products were bid increase yesterday.

In the large Midwest serial markets, wheat for future delivery was up 13 to 16 cents a bushel top top the day, after being down around 6 cents on the carryover marketing from Tuesday's sharp decline.

That sell‐off attractive some an ext export organization in the wheat pit and in corn, i m sorry closed a cent or so lower on the old crop and also up as much on the remote contracts.

Soybeans, which to be again under as lot as the 20‐cent limit, rebounded so late in the conference to reduced the loss to around 5 cents, but the old crop closed unchanged.

Brokes thought that few of the strength displayed in wheat may have actually been led to by the uncertain labor case in western Canada, wherein grain handlers have not fixed their conflict with the shipping companies. Part Canadian business, it to be thought, might be change to American exporters.

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In the new York markets, inflation fears following President Ford's declared opposition to wage and price controls dominated the markets. As well as sugar, which rose an additional two‐thirds the a cent a pound, cocoa, copper and also silver closeup of the door with strong gains.