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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - December 13, 1974, Lethbridge, Alberta 16 THE LETHBRIDGE HERALD Friday, December 13, 1974 Announcement from the Western Canadian Sugar Industry Sugar prices have been at an all-time high. Many conflicting statements have been made about the situation. We want you to know the facts. The world situation: 1 The world will produce about 80 million tons of sugar this year. 9 65 million tons will be consumed by sugar- producing countries, or traded under special arrangements. 3 The million tons the world sugar market. 4 Today, world demand for this 15 million tons exceeds supply prime reason that sugar prices have risen so rapidly in Canada. 5 The current imbalance between supply and demand is the result of poor crops over the last three years and increasing world consumption, mainly in developing countries. Canada buys on the world market and refiners must import raw sugar at the going world market price. So refined sugar prices directly reflect the ups and downs of the world market. 7 Today, over 90% of the cost of refined sugar is the cost of raw sugar. Cane and beet sugar: 8 Western Canadians consume about tons of sugar. Half of this is cane sugar. Half is beet sugar. 9 Raw cane sugar, imported for refining in B.C., is purchased from the most economical sources of supply. At present, these are Australia and Fiji. 10 Beet sugar (about 12% of Canada's consumption) is primarily produced and marketed in the prairie provinces. 11 Beet sugar must sell competitively with cane sugar. When world prices are low, beet sugar prices are also low. 12 If beet sugar returns are too low, farmers will turn to other crops which are less expensive to produce and more profitable. 13 Beet growers participate directly in the return from sugar sales, so their income reflects fluctuations in the world market prices. 14 In the past twenty years, world market sugar prices have generally been lower than prices under special trading arrangements. 15 After forty years, the United States is about to abandon its Sugar Act and revert to world market purchasing. Sugar is good value: Canadians eat about 100 Ibs. of sugar per person each year. 50 Ibs. of this is in soft drinks, ice cream and other manufactured goods. The other 50 Ibs. is purchased at the grocery store. 17 Over the last year, the cost of direct sugar purchases by Canadians averaged less than 6? per person per day. 18 The Food Prices Review Board Report of June 27, 1974 states that direct sugar purchases account for less than 1% of a family's food expenditure. 19 Sugar remains the most convenient sweetener and an economical source of quick energy. Canadian sugar beet production: 20 Present sugar beet processing facilities are operating at near capacity. Sugar beet crops in Western Canada were slightly below average this year. Canadian consumers have benefitted from the very low average sugar prices of the past twenty years. These low prices discouraged expansion of the industry in Canada. In Eastern Canada, production declined sharply. Canada can produce more of its sugar requirements from sugar beets provided long-term price stability at economic levels is assured to both grower and processor. World sugar prices cannot be controlled by Canada or any individual sugar company. Current high prices have been caused by poor crops in large producing countries and by international economic forces over which Canada has no control. It is unlikely that sugar will return to its depressed low price of the sixties. But it will drop when a normal supply and demand condition returns to the world market. Until then, don't deny your family the benefits of sugar. Alberta Sugar Beet Growers Association Lefhbridge, Alberta Canadian Sugar Factories Company Lethbridge, Alberta Manitoba Beet Growers Association Winnipeg, Manitoba Manitoba Sugar Company Winnipeg, Manitoba British Columbia Sugar Refining Company Limited Vancouver, British Columbia ;