15
picul between April and May, whilst Cubans which were quoted at about 9 cents previous to the revised estimate reached over 21 cents. After large quantities of Sugar had passed hands at these exceptional rates a slump took place, which was largely brought about by the over-anxiety of America to fill her shortages and prices fell away equally rapidly, the actual difference between the highest and lowest prices touched between the middle of May and December being 61 Guilders a picul.
The Refined markets follow the upward trend of prices to a certain extent in April and May and satisfactory sales were made to India, America and Europe both for prompt and forward deliveries.
Demand from China was consistent throughout the year but for the first six months prices were disappointing.
Yarn. The Yarn trade during 1920 was very unsatisfactory and resulted in severe losses to native dealers, some of the smaller ones being forced to close down.
Trade was brisk until March but the Japanese financial crisis and the raising of the embargo on Japanese Yarn exports brought down prices with a run and so far there has not been any reasonable reaction from this collapse.
The total quantity of Indian Yarn imported into the Colony during the Year amounted to 120,000 bales and 17,000 bales were brought forward from the previous year.
bales.
Clearances totalled 112,000 bales leaving a carryover of 25,000
Cotton-Middling American Cotton in Liverpool was quoted in January at 28.50d. for spot, it declined to 27.38d. at the end of January, but then rose until on 18th February it reached the phenomenal height of 31.16d. It has since gradually fallen away, with an occasional setback, to 8.65d. at the end of the year (lowest since August, 1916).
2
The year opened with Exchange at 4/11 T/T. It advanced rapidly and reacted its topmost height of 6/2 T/T. on 10th February. It then reacted and declined steadily with one or two small setbacks until the close of the year, when T/Ts. on London were quoted at 3.2.
Rope Making, 1920.-The demand for Manila Cordage was not so good and the total turnover showed a falling off from that of the previous twelve months. The high rate of exchange which ruled throughout the year adversely affected our business with gold standard countries to a large extent.
Cement Manufacture.--Although exchange ruled very high throughout the year, there developed a very good demand from all markets and prices rose all round. The turnover was a record one.
15
picul between April and May, whilst Cubans which were quoted at about 9 cents previous to the revised estimate reached over 21 cents. After large quantities of Sugar had passed hands at these exceptional rates a slump took place, which was largely brought about by the over-anxiety of America to fill her shortages and prices fell away equally rapidly, the actual difference between the highest and lowest prices touched between the middle of May and December being 61 Guilders a picul.
The Refined markets follow the upward trend of prices to a certain extent in April and May and satisfactory sales were made to India, America and Europe both for prompt and forward
deliveries.
Demand from China was consistent throughout the year but for the first six months prices were disappointing.
Yarn. The Yarn trade during 1920 was very unsatisfactory and resulted in severe losses to native dealers, some of the smaller ones being forced to close down.
Trade was brisk until March but the Japanese financial crisis and the raising of the embargo on Japanese Yarn exports brought down prices with a run and so far there has not been any reasonable reaction from this collapse.
The total quantity of Indian Yarn imported into the Colony during the Year amounted to 120,000 bales and 17,000 bales were brought forward from the previous year.
bales.
Clearances totalled 112,000 bales leaving a carryover of 25,000
Cotton-Middling American Cotton in Liverpool was quoted in January at 28.50d. for spot, it declined to 27-38d. at the end of January, but then rose until on 18th February it reached the phenomenal height of 31 16d. It has since gradually fallen away, with an occasional setback, to 8'65d. at the end of the year (lowest since August, 1916).
2
The year opened with Exchange at 4/11 T/T. It advanced rapidly and reacted its topmost height of 6/2 T/T. on 10th February. It then reacted and declined steadily with one or two small setbacks until the close of the year, when T/Ts. on London were quoted at 3,2.
Rope Making, 1920.-The demand for Manila Cordage was not so good and the total turnover showed a falling off from that of the previous twelve months. The high rate of exchange which ruled throughout the year adversely affected our business with gold standard countries to a large extent.
Cement Manufacture.--Although exchange ruled very high throughout the year, there developed a very good demand from all markets and prices rose all round. The turnover was a record one.
No comments yet.
Private notes are available after approval.