In what was referred to as "la danza de los millones", with the destruction of European sugar-beet farms during World War I, sugar prices rose to their highest level in history, from $5.50 in 1914 to $22.50 per pound in 1920. Dominican sugar exports increased from 122,642 tons in 1916 to 158,803 tons in 1920, earning a record $45.3 million. However, European beet sugar production quickly recovered, which, coupled with the growth of global sugar cane production, glutted the world market, causing prices to plummet to only $2.00 by the end of 1921. This crisis drove many of the local sugar planters into bankruptcy, allowing large U.S. conglomerates to dominate the sugar industry. By 1926, only twenty-one major estates remained, occupying an estimated . Of these, twelve U.S.-owned companies owned more than 81% of this total area. While the foreign planters who had built the sugar industry integrated into Dominican society, these corporations expatriated their profits to the United States. As prices declined, sugar estates increasingly relied on Haitian laborers. This was facilitated by the military government's introduction of regulated contract labor, the growth of sugar production in the southwest, near the Haitian border, and a series of strikes by "cocolo" cane cutters organized by the Universal Negro Improvement Association.