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Newsletter Summary
Currency rates
Equities of largest breweries
Market prices change trend
Top industry news
Brewery news
Barley news
Hops news
More news
Malting barley prices
Table of the week
Graph of the week
Agenda
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Average market prices Change trend
17 Nov - 18 Nov 2005
Crop 2005
2rs Barley €117.0-118.0
6rw Barley €104.0-106.0

Note: Just click on the price link and you will be led to our Market Price History. Average barley market prices are French and are estimated on FOB Creil basis.
The changes are compared to last Newsletter's prices. Arrows indicate the direction of the change.

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Last five newsletters
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Newsletter 46a, 2005
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Newsletter 45b, 2005
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Newsletter 45a, 2005
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Newsletter 44b, 2005
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Newsletter 44a, 2005

Market price evolutions

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All e-malt.com tables are published in e-malt.com Statistics section. The Statistics section includes Barley statistics, Malt statistics and Beer statistics. The tables related to barley are published in Barley Statistics section, the tables related to malt in Malt Statistics section and the tables related to beer in Beer Statistics section.

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E-malt.com Newsletter 46b
November 17 - November 18, 2005
Quote of the week

"A mouth of a perfectly happy man is filled with beer."
Source: Ancient Egyptian Wisdom, 2200 B.C.

Currency Rates
Base Currency: Euro, EUR
on 18-November-2005

1 EUR = 1.1757 USD
1 EUR = 0.684 GBP
1 EUR = 1.3951 CAD
1 EUR = 1.6005 AUD
1 EUR = 139.58 JPY
1 EUR = 2.5812 BRL
1 EUR = 33.8978 RUB
1 EUR = 9.5073 CNY
 Base Currency: US Dollar
on 18-November-2005

1 USD = 0.8507 EUR
1 USD = 0.5817 GBP
1 USD = 1.1866 CAD
1 USD = 1.3613 AUD
1 USD = 118.75 JPY
1 USD = 2.1955 BRL
1 USD = 28.832 RUB
1 USD = 8.0865 CNY

EUR/USD Chart

Equities of the Largest Breweries

Top Industry News
Denmark: Royal Unibrew A/S announced 24% increase in sales... Click here

Russia: Report on the Russian beer market as totals of the Q3 of 2005... Click here

Australia: Coopers secures important legal victory in its takeover war with Lion Nathan... Click here

USA: An advertising battle in the USA beer market is brewing... Click here

Finland: Beer sales increased by 3.1 % for January-September 2005... Click here

Ukraine: Malting barley quality is less good than in Russia; Feed barley exports increase... Click here

Australia: ABB Grain announces malt barley pool estimate (WA)... Click here

China: Hops market situation in China... Click here

More News
South Africa: Local premium-beer market is to increase by 10% a year ...More Info

South Korea: Hite Brewery rated "equal weight" ...More Info

South Africa: SAB launches distribution network empowerment project ...More Info

USA: Granite City Food & Brewery opens in Kansas City, Missouri ...More Info

EU: Barley market this week can really be described as dull, analysts said ...More Info

Australia: Little World Beverages makes a strong debut on Australian Stock Exchange ...More Info

India: Cobra Beer is planning to develop its second Greenfield brewery in India ...More Info

Canada: Russell Breweries Inc. announces fourth quarter and year-end result ...More Info

Iran: Baltika - the first Russian brewery with shipment to Iran, restarts exporting in this country ...More Info

Denmark: Share Buy-back at Royal Unibrew A/S ...More Info

Russia: Efes Breweries intends increasing turnover by 20% in Russian market ...More Info

UK: Diageo warns that sales and profit may go down ...More Info

UK: Carlsberg UK launches Tetley's Original ...More Info

China: The dominance of the 20 leading brewers has accelerated ...More Info

Netherlands: Heineken intends to nominate A.M. Fentener van Vlissingen as Supervisory Board member ...More Info

USA: Washington State fines Yakima Brewing former president $7,500 ...More Info

South Africa: Country’s oldest commercial brewer in R39m expansion ...More Info

Slovakia: Pressure on Slovak breweries continues ...More Info

Canada: Mark Russell steps down from board of directors to focus on brewery operations ...More Info

USA: Granite City Food & Brewery’s class A warrants to expire December 15, 2005 ...More Info

Australia: Better quality expected as harvest continues ...More Info



Brewery News
Denmark: Royal Unibrew A/S announced 24% increase in sales

Royal Unibrew A/S announced on November 17 that its beer, malt and soft drinks sales amounted to 4.4 million hectolitres, for Q1-Q3 2005 that is a 24% increase over the same period of 2004.

The increase in group sales is primarily attributable to the soft drinks producer Cido and the Lacplesa Alus brewery, both in Latvia, as well as the Polish breweries Brok and Strzelec acquired in H1 2005. Furthermore, Germany, among other countries, saw increasing sales.

Some 19 percentage points of the total sales increase of 24% were due to the acquisition of the abovementioned activities in Latvia and Poland, whereas organic sales growth represented 5 percentage points of the total growth.

Total net revenue of the Group increased by some 13% in the year to date aggregating DKK 2,423 million. 9 percentage points of the increase were attributable to consolidation with the Latvian and Polish activities, whereas organic growth of some 4 percentage points was attributable primarily to increases in Germany and Italy.

Gross margin decreased in the year to date to 50.4% from 52.3% in the same period of 2004. Some 0.5 percentage point of the gross margin decrease was due to the effect of the change of deposit prices ...More Info

Russia: Report on the Russian beer market as totals of the Q3 of 2005

According to the totals of the third quarter of 2005, the growth in beer production in comparison with the same period of the last year has amounted to 4.6%, and the total score for the entire 2005 per branch will make up, according to our prognosis, not more than 5 % , stated the Association of Russian Brewers in its report elaborated with the participation of Business Analytica Company and is based on data related to the status and development of the Russian beer market.

The results of the third quarter afford ground for assuming that the further growth of the Russian brewing market will be within the limits of 5-7 %, and may be characterized as being "steadily moderated". As main reference point of the market development shall serve the industrial parameters of the basic players - the largest manufacturers which produce approximately 80 % of product release. However, in opinion of experts unforeseen jumps and falling of rates of development of the entire brewing branch are not excluded. Thus, the observed increase in production according to the results of 8 months of 2005 in comparison with the similar period of 2004 has amounted to 4.6 % while in 2004 ...More Info

Australia: Coopers secures important legal victory in its takeover war with Lion Nathan

Coopers Brewery Ltd. scored on November 18 a major victory in its battle to fend off a hostile takeover bid by Lion Nathan Ltd. when a Melbourne court moved to allow an extraordinary general meeting of the target's shareholders to proceed, Dow Jones announced on November 18.

In a decision that threatens to derail Lion Nathan's A$352 million offer, the Federal Court judge Alan Goldberg discharged a temporary injunction against the planned Coopers meeting, subject to agreed undertakings to the company's shareholder documents. The privately-owned Coopers plans to hold the meeting on Nov. 29 to vote on changes to the company's constitution to remove Lion Nathan's existing pre-emptive rights to buy shares and effectively prevent Lion Nathan from owning Coopers shares.

The justice Goldberg ordered Coopers to provide more information to its shareholders on a valuation from the company's auditor KPMG. In September, Lion Nathan bid A$260 a share for Coopers. KPMG subsequently valued Coopers shares at A$190 apiece in the absence of the Lion Nathan offer, while independent expert Grant Samuel has put a value on Coopers of between A$284 and A$320 a share.

Beforeof the court decision, some analysts suggested that Lion Nathan is unlikely to secure a ...More Info

USA: An advertising battle in the USA beer market is brewing

USA’s beer maker, Miller Brewing Co., a subsidiary of SABMiller Plc, said on November 15 that several cable networks pulled new Miller ads on complaints by rival Anheuser-Busch Co. Inc., the largest U.S. brewer, according to Reuters news. "They (Anheuser-Busch) made calls to just about every cable network that they analyze their decision to run the Miller spots," Miller spokesman Peter Marino said.

The Miller spots, launched on November 11, claim that despite a change in Anheuser-Busch's Bud Light, Miller Lite still has more taste.

Anheuser-Busch said that it hasn't changed the formula for Bud Light, the top-selling light beer in the United States, but added that its brew masters constantly make small adjustments for seasonal changes in raw ingredients.

Several cable networks have temporarily placed the Miller spots on hold and asked the company to provide substantiation for the claim, Miller said, adding that it was providing the requested substantiation.

Anheuser-Busch responded to what it felt were negative ads by Miller, an Anheuser-Busch executive said. "We addressed this directly in a way that was most appropriate," Douglas Muhleman, group vice president at Anheuser-Busch, said in a faxed response. "We saw negative advertising that included our product, and we were in the best position ...More Info

Finland: Beer sales increased by 3.1 % for January-September 2005

By the end of September, members of the Finnish Federation of the Brewing and Soft Drinks Industry had sold a total of 633.3 million litres of beer, cider, long drinks, soft drinks and mineral waters. Beverage sales rose by 1.4 per cent on the previous year.

Beer sales were up 3.1 per cent. Sales of sugar-free soft drinks also increased by 7.5 per cent. Imports of beverages by travellers surged during the summer. Due to the trend in the price of beer in Finland, beer imports by travellers are remaining at the 2004 level. On the other hand, imports of cider and long drinks by travellers are on the rise. Federation members’ sales of cider in Finland have decreased.

By the end of September, members of the Finnish Federation of the Brewing and Soft Drinks Industry had sold a total of 633.3 million litres of beverages, up 8.6 million litres. This increase was mainly accounted for by the growth in beer sales. Beer sales grew by 3.1 per cent – 9.7 million litres – on the previous year, rising to 323.3 million litres in the January-September period of 2005. Growth centred on sales of medium-strength beer in daily consumer goods stores, ...More Info

Barley News
Ukraine: Malting barley quality is less good than in Russia; Feed barley exports increase

The Ukrainian barley crop of 8.8 million tonnes is almost 2 million tonnes smaller than in 2004. Malting barley quality is less good than in Russia, especially in Western Ukraine maltsters complain about high protein and poor condition.

Exports of feed barley are estimated to have reached 1.66 million tonnes by end October. During October 2005 Ukraine exported 536.1 thousand tonnes of barley that is 16.3% less than in September 2005, according to ProAgro’s figures. The Ministry of Agriculture estimates that the 2006 wheat crop will be 9 million tonnes vs. 19 million tonnes this year.

Planting continued into late October, so that 5,6 Mill. Ha or 88 % of the planned acreage were seeded. But less than half of the planted winter grains had sprouted to-date. No doubt, winter weather, if mild and moist, can improve conditions and prospects quite a bit.

Feed barley UAH prices have grown again, up to UAH680–695/t, CPT port; some companies are purchasing big lots UAH690–700/t (CPT port), according to Agro Perspektiva. US$ prices remain US$127–131/t (FOB)/US$120–126/t (CPT port).

Australia: ABB Grain announces malt barley pool estimate (WA)

ASX-listed ABB Grain has announced on November 18 the Gross Pool Indicator for its WA malt barley pools at $210 FOB with no tonnage restrictions.

WA grain accumulation manager Anthony Fitzgerald said there was no restriction on the percentage of crop that growers can deliver to the pools.

“Grain can be delivered by nominating the pools on the Carters Delivery Form at delivery or transferring from warehouse,” Mr Fitzgerald said.

The pools are a result of extensive consultation with growers and aim to capture domestic market benefits for participants. Gairdner (grades malt 1 and malt 2) and Baudin and Hamelin (malt 1 grade) will be accepted at sites in the Kwinana and northern half of the Albany zones.

Pool returns will be generated from a malt sales program that will include Joe White Maltings, ABB’s wholly owned subsidiary, which is part of ABB’s integrated agribusiness strategy.

Joe White Maltings is Australia’s largest malt producer and the eighth largest in the world. The company’s Forrestfield plant is currently undergoing a $40 million upgrade designed to double malt production to 200,000 tonnes per year. Growers stand to benefit from this expansion because processed malt will penetrate new markets.

“Other than a grade spread between malt 1 and malt ...More Info

Hops News
China: Hops market situation in China

The decrease in hop acreage led to a corresponding decrease in hop supply. The production volume was additionally reduced due to unfavourable weather conditions, according to The Barth Report of first half of 2005. Prices for hops from crop year 2004 were two to three times higher than those for the 2003 crop, which brought them back to normal levels. Farms were paid prices of 12 to 13 renminbi/kg for Tsingdao Flower hops. This corresponds to approx. 1.20 to 1.30 EUR/kg.

In mid-April, some 900 mt of hops (approx. 50 mt alpha) from crop year 2004 and previous crop years remained unsold. When the 2004 harvest began, the quantity of unsold hops from crop year 2003 and previous years is said to have been as much as 3,500 mt.

There will be a slight increase in acreage again in 2005. This increase will be in the region of 250 ha.


Malting barley prices. French barley prices.
Nominal prices.

EURO = USD 1.1757 November 18, 2005 
 Crop year   2005 
 Parity   FOB Creil 
 Position   July 2005 
Type   Variety  EURO  USD 
2RS  Scarlett  119.50  140.50 
2RS  Prestige  118.50  139.50 
2RS  Cellar  118.00  139.00 
2RS  Aspen  nq  nq 
2RS  Optic  nq  nq 
2RS  Sebastien  117.00  137.50 
2RS  Astoria  117.00  137.50 
2RS  Cork   116.50  137.00 
6RW  Esterel   105.00  123.50 
Table of the week

EU Malt Export Licence Fixations:

(in tonnes)   2001-2002   2002-2003   2003-2004  2004-2005   July 01, 2005 -
October 25, 2005  
 France   701,134  661,772  774,761  674,140  166,200 
 Germany   468,314  408,063  422,047  295,876  77,425 
 Belgium   296,368  287,850  317,292  418,344  186,654 
 U.K. 350,621  294,995  443,501  201,892  67,632 
 Finland   91,890  100,758  114,165  64,986  11,090 
 Denmark    96,812  94,791  90,452  74,743  22,262 
 Sweden   101,000  76,916  78,369  88,840  31,000 
 Netherlands   51,310  66,219  80,703  49,128  16,280 
 Ireland   35,145  31,140  38,900  56,924  7,000 
 Austria   8,840  8,620  60,211  16,954  8,737 
 Spain   2,400  5,640  10,000  -  - 
 Greece   1,744  1,306  979  130  - 
 Portugal   221  85  695  850  374 
 Italy   -  2  -  -  - 
 Total EU 15  2,205,799  2,038,157  2,432,075  1,942,807  594,654
 New EU members  May-June, 04     
 Czech Republic       34,340  82,062  14,655 
 Poland       7,604  32,084  - 
 Hungary       2,830  85,792  11,918 
 Slovakia       1,000  76,916  27,890 
 Total EU 25   2,205,799  2,038,157  2,477,849  2,219,661  649,117 

  Total Wheat malt, tonnes  
Total 2001-2002    12,805 
Total 2002-2003    30,908 
Total 2003-2004    15,768 
Total 2004-2005    8,162 
July 01 –October 25, 2005    1,843 
   
  Total Roasted malt, tonnes  
Total 2001-2002    23,480 
Total 2002-2003    23,603 
Total 2003-2004    24,438 
Total 2004–2005    27,212 
July 01 - October 25, 2005    8,897 
Graph of the week

Source: USDA

Agenda
November 2005:
Weekend of Belgian BeersFestival
THE DUTCH BEERFESTIVAL
Brew BLAST. Annual Beer, Lager, Ale, and Stout Tasting
Georgia Craft Brew Challenge
Maine Beer Festival
US Grains Council International Malt Barley & Malting Buyers Conference San Francisco,
GlobalGrain 2005 For more information on GlobalGrain 2005
Regina Festiv-Ale. A premium beer festival featuring the best beer from Canada
Brewtopia. The event has two tasting sessions, local brews, live entertainment, food
Festival of Barrel-Aged Beer
Great International Beer Festival
Phinney Neighborhood Association Beer Taste
Orlando Beer Festival
Great Brews of America Beerfest
5th International Forum " Drinks Industry 2005"

December 2005:
Holiday Ale Festival.
Beer Tasting & Education.
Great Welsh Beer & Cider Festival features 150 Beers and 40 Ciders.
Americas Food & Beverage Show.
BrewTech International Exhibition of Beverage and Brewery Processing and Packaging
10th Annual Holiday Ale Festival .
9th Annual San Diego Strong Ale Festival.
2005 Winter Beer Festival
Winter Beer Festival...
Charity Beer Walk features.
Beer & Cheese Tasting Series American & British Ales.
December Holidaze Beer Tasting.
Kerstbierfestival (11th Christmas Beer Festival). O.B.E.R.

January 2006:
Big Beers Belgians & Barleywines Festival
Great Alaska Beer & Barley Wine Festival.
The Great Alaska Beer
St. Paul Winterfest.


More events are available on site e-malt.com
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