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“...realise that in the near future an
outlet will have to be found for the surplus production. The principal
market will probably be China, but an attempt will also be made
to dispose of Formosan sugar in Canada and India. With a view
to facilitating this trade the export duties on sugar from Formosa
were abolished in November. The authorities have also issued an
instruction to the effect that permission will not be given for the
present for the erection of refineries or for the building of new mills
or the extension of existing ones in Formosa. The object of this
prohibition is to protect the sugar refiners in Japan proper on the
one hand, and on the other to prevent over-production of raw sugar
in Formosa.
Sugar consumption tax.On April 1 a law was promulgated amend-
ing the rates of the sugar consumption tax. The law took effect
from the date of promulgation. The old and new rates compare
as follows :
Old.
Per 100 Kin.
Yen sen.
Below Dutch standard No. 8 and molasses 3 0
Between Nos. 8...”
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“...yarns from 46,228 tons,
valued at 3,231,600?., in 1909 to 60,219 tons, valued at 4,629,200?., in
1910. These totals furnish convincing proof of the rapidly increasing
productive capacities of the Japanese spinning mills.
Although the expansion of the trade in this line is almost solely
due to the greatly increased quantities sold to China, which took about
90 per cent, of the total export, yet it is worthy of notice that, as shown
by the table on page 82, other customers, notably Hong-Kong, pur-
chased more than in preceding years. On the Shanghai market the
chief competitor with Japanese yarns is of course India, and the
Japanese product appears to be steadily gaining ground.
Various causes, such as the increasing price of raw material, over-
production owing to all the mills working at full swing, depression
in the piece-goods trade, damage by the summer floods and the
financial panic in Shanghai following the collapse of the rubber boom,
led to an agreement being arrived at among the...”
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