Page 91
SUGAR.
London terminal quotations made only
232
fractional variations during the month, and the tone
of world markets generally remains firm. Java quotations
remained unchanged, but local reselling prices were below
replacement costs and weakened further towards the end of
the month.
Owing to the depressed market there were no
fresh purchases and small quantities were resold to Java.
Dealers showed rather more interest in refined sugars as
their stocks were getting low and bought moderate quantities.
Small parcels of Javas were snipped to Ningpo,
and also to Macao. Fair quantities of refineds were sold
to Shanghai, Ningpo and Tientsin, and shipments to Malay a
and Southern destinations remained steady.
KNITTING INDUSTRI.
Since the re-opening of the factories after
Chinese New Year, there has been a small but steady demand
for singlets and for other classes of goods, most of which
are exported to Empire countries und er Imperial Preference.
These preferential benefits are of great importance to the
industry which otherwise would not compete in many markets.
In some markets, even with the benefit of lower tariffs,
Hong Kong-made goods experience competition with lower
priced Shanghai-made goods. This has been particularly
noticeable of late in regard to singlets and socks exported
to British Malaya. The lower levels of Shanghai currency
is a contributory cause of this competition.
Page 91
An
Page 91
Page 91