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Newsletter Summary

Currency rates
Equities of largest breweries
Market prices change trend
Top industry news
Brewery news
Malt news
Barley news
More news
Theoretical malt prices
Malting barley prices
Table of the week
Graph of the week
Agenda
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Average market prices Change trend

16 Jan - 18 Jan 2006
Crop 2005
2rs Barley €115.50-117.50
6rw Barley €103.00-105.00
2rs Malt €242.00-244.00
6rw Malt €226.50-228.50
Crop 2006
2rs Barley €118.50-120.50
6rw Barley €106.00-108.00
2rs Malt €245.00-247.00
6rw Malt €229.00-230.00

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 02b, 2006

See this Newsletter!
Newsletter 02a, 2006

See this Newsletter!
Newsletter 01, 2006

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Newsletter 52, 2005

See this Newsletter!
Newsletter 51b, 2005



Market price evolutions

The evolution of market prices for barley and malt, which are periodically issued with e-malt.com newsletters are published on e-malt.com site in Market Prices section. Just click here!


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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 03a
January 16 - January 18, 2006

Quote of the week

"History flows forward on rivers of beer."
Anonimous

Currency Rates
Base Currency: Euro, EUR
on 17-January-2006

1 EUR = 1.213 USD
1 EUR = 0.6855 GBP
1 EUR = 1.4069 CAD
1 EUR = 1.6079 AUD
1 EUR = 139.192 JPY
1 EUR = 2.7659 BRL
1 EUR = 34.327 RUB
1 EUR = 9.79 CNY
Base Currency: US Dollar
on 17-January-2006

1 USD = 0.8245 EUR
1 USD = 0.5651 GBP
1 USD = 1.1598 CAD
1 USD = 1.3254 AUD
1 USD = 114.757 JPY
1 USD = 2.2801 BRL
1 USD = 28.2986 RUB
1 USD = 8.0707 CNY

EUR/USD Chart

Equities of the Largest Breweries

Top Industry News
World: SABMiller Q3 global beer volumes rise 1.8 %... Click here

Japan: The shipments of beer and beer-like alcoholic beverages fell by 3.1% in 2005... Click here

South Korea: Oriental Brewery has gained a bigger market share than industry leader Hite Co.... Click here

Canada & Brazil: Molson Coors sells controlling stake in Brazil operations to FEMSA, announces fourth quarter business trends... Click here

Philippines: San Miguel gains ground in China beer market... Click here

Australia: Coopers Brewery has closed its share buyback... Click here

Ukraine: Obolon has started the construction of a new malting plant... Click here

Australia & China: Kirin, Lion Nathan and San Miguel will jointly buy malt from Australia and China... Click here

USA: 2006 Recommended Malting Barley Varieties by AMBA... Click here

More News
Serbia and Montenegro: First offers for the sale of Peja Brewery in Kosovo ... More Info

Thailand: Thai Beverage could encounter reporting complications if it listed first on the Singapore Stock Exchange ... More Info

Finland: Raisio announces write-down of assets in malt and potato businesses ... More Info

India: Cobra Beer to set up a brewery in Hyderabad ... More Info

Hong Kong: UBS stays neutral on Tsingtao Brewery ... More Info

USA: Stella Artois will sponsor The Sundance Film Festival ... More Info

Canada: New research to help in getting more malting barley ... More Info

Laos: Beerlao has snapped up 99 % of its domestic market ... More Info

Ukraine: Beer production is forecast to increase by 10% in 2006 ... More Info

Mexico: FEMSA announces it buys 68% of Kaiser for US$ 68 Million ... More Info

Colombia: Bavaria has elected board members ... More Info

USA: A new barley variety expected to offer brewers an improved quality ... More Info

USA: Cargill reports second-quarter fiscal 2006 earnings ... More Info

USA: Beer tax to increase in Iowa State ... More Info

UK: Job losses at Britain's leading independent maltster, Crisp Malting Group ... More Info

China: Selling of beer and other alcoholic drinks to minors forbidden in China ... More Info

Japan: Kirin announces the appointment of Chairman & CEO and President & COO ... More Info

New Zealand: New Zealand’s Government to review alcohol advertising policy ... More Info

Thailand: Boon Rawd Brewery plans raising the profile of its Singha Beer and increase export sales ... More Info

Australia: 11 candidates for positions in ABB Grain’s board ... More Info

UK: Low-cost brews resembling beer but with no malt could catch on in developing countries ... More Info

UK: The number of microbreweries to be in rise ... More Info

Thailand: SET president repeats vow to quit if Thai Beverage listing derailed ... More Info

UK: CAMRA announces the winners of Pub Design Awards 2005 ... More Info

USA: Beer Enthusiasts help choose newest Samuel Adams beer style ... More Info



Brewery News
World: SABMiller Q3 global beer volumes rise 1.8 %

Brewing giant, SABMiller plc, announced on January 18 that following the summer peak season in South Africa, SABMiller plc issued its trading update for the group’s third quarter and for the nine months ended 31 December 2005. The calculation of the organic growth rates included below excludes volumes for Bavaria SA that became part of the group in October 2005.

The group’s organic lager volume growth for the third quarter was 1.8%, and 4.5% for the year to date. Volumes were impacted by cool and wet weather during December in South Africa, and South Africa Beverages achieved a marginal increase in beer volumes during the quarter, cycling the 4% growth reported in the prior year’s third quarter. Underlying economic performance and consumer confidence in South Africa remain positive, contributing to further mix improvements. In South Africa, year to date beer volumes are up 1.8% on a comparable basis. Soft drink volumes were also impacted by the December weather, and a 4% increase was recorded in the quarter, with year to date growth of 7%.

Miller’s third quarter domestic sales to retailers (STRs) were 1.0% below prior year when adjusted for the reduced number of trading days in the quarter ...
More Info


Japan: The shipments of beer and beer-like alcoholic beverages fell by 3.1% in 2005

Shipments of beer and beerlike alcoholic beverages by the top five Japanese breweries fell 3.1 % in 2005. This is for the first decline in two years. The decline is attributed to the colder than usual winter, the Brewers Association of Japan reported on January 17.

Shipments by Kirin Brewery Co., Asahi Breweries Ltd., Suntory Ltd., Orion Breweries Ltd. and Sapporo Breweries Ltd. came to 501.01 million cases. One case holds 20 633-milliliter bottles.

The downturn also reflects how strong sales were boosted by the hot summer of 2004, according to the Brewers Association of Japan and beer makers.

Beer shipments dropped 7.9 % to 282.33 million cases, marking the ninth consecutive year of decline. Shipments of "happoshu" low-malt beer slumped 24.8 % to 139.26 million cases -- the third straight year of decline.

But shipments of so-called third-category beer, including beerlike sparkling drinks, showed sharp growth.


South Korea: Oriental Brewery has gained a bigger market share than industry leader Hite Co.

South Korea's second-leading beer maker, Oriental Brewery Co., has gained a bigger market share than industry leader Hite Co. in monthly sales of draft beer for the first time in 11 years, Asia Pulse and Yonhap cited an industry association saying on January 17.

Oriental Brewery's flagship beer Cass led the market with a 46.2 % market share in October. Hite Brewery's leading item Hite was the No. 2 player with a 43.9 % share, the Korea Alcohol & Liquor Industry Association said. According to the survey results of Oriental Brewery, Cass controlled 44.8 % of the market in November and 45.8 % in the following month.

"Our six years of working to broaden our popularity among people in their 20s has finally started to pay off," said Oriental Brewery President Kim Jun-young. The company said people in the 20-29 age bracket consume 49 per cent of the draft beer sold in South Korea.

As of 2005, the domestic market for draft beer amounted to 354 million liters and accounted for 23 per cent of the total beer market.


Canada & Brazil: Molson Coors sells controlling stake in Brazil operations to FEMSA, announces fourth quarter business trends

Molson Coors Brewing Company announced on January 16 that it sold a 68 percent equity interest in its Brazilian unit, Cervejarias Kaiser ("Kaiser"), to FEMSA Cerveza S.A. de C.V. ("FEMSA") for US$68 million cash, including the assumption by FEMSA of certain Kaiser-related debt and contingencies.

Following the transaction, Molson Coors will own 15 percent of Kaiser and have one seat on its board. Heineken NV remains a 17 percent equity partner in the Kaiser business.

"Last year, we committed to a strategic review of our Brazilian business. We made good on that commitment, and this transaction is the result," said Leo Kiely, President and CEO of Molson Coors. "The transaction allows us to focus on our biggest markets and to continue to deliver the cost synergies and other benefits related to the Molson Coors merger. It also represents a winning proposition for Kaiser in Brazil, as it further aligns branding, production, selling and distribution operations." FEMSA owns the largest distributor of Kaiser products in Brazil.

Kiely added, "We believe this partnership with FEMSA will strengthen Kaiser's overall position in the Brazilian market. By maintaining a minority ownership ...
More Info


Philippines: San Miguel gains ground in China beer market

San Miguel Corp., the Philippines' largest food and beverage conglomerate, announced on January 18 that sales revenue at its San Miguel Guangdong Brewery in southern China rose 21 % to about 21.38 million dollars last year, with sales volume increasing by 16 percent over 2004, Dow Jones Commodities News communicated.

It said sales volume for 2005 at the Guangdong brewery increased 16% on year as a result of aggressive marketing of the Dragon beer brand, particularly in southern China.

San Miguel also sells its flagship brand San Miguel Pale Pilsen and the Valor brand in China.

The Guangdong brewery was inaugurated in 1994. San Miguel A-shares closed steady on Wednesday at 64.00 pesos, and its B-shares closed steady at 87.50. (One dollar = 52.76 pesos)


Australia: Coopers Brewery has closed its share buyback

Coopers Brewery from Australia, which has managed so far to resist a A$420 million (US$316.6 million) hostile takeover bid from Lion Nathan Ltd, has closed a share buyback, with shareholders willing to part with only a small %age of their stock, Asia Pulse informed on January 16. Coopers said that under the buyback approved by shareholders in December 2005, the company had offered to buy back up to 15 % of Coopers shares.

But at the close of the buyback only 4.26 % of shares had been offered to the company. "The fact that just 4.26 % of Coopers shares have been put into the current share buyback process indicates that shareholders are happy with the way the company is being managed and is a gratifying response," Coopers managing director Tim Cooper said.

When the buyback closed last week, about 57,600 Coopers shares worth just under A$15 million - at A$260 per share - were put up for sale. Coopers launched the buyback to match Lion Nathan's initial takeover bid of A$ 260 per Cooper's share.

Lion Nathan later lifted its bid to A$310 per share, but the Lion Nathan bid was effectively defeated when Coopers shareholders voted to withdraw ...
More Info

Malt News
Ukraine: Obolon has started the construction of a new malting plant

ZAO Obolon, one of the leading beer makers of Ukraine, announced on January 13 that they have started the construction of a new malting plant in Khmelnitsk region. The new plant is planned to produce about 60 thousand tonnes of malt per year and to start the production process by 2007. A spokesman of the company mentioned that Obolon plans to invest about EUR 20 million in the construction of the plant, not taking into the account the investments made so far. It is supposed that the plant is to supply with malt only Obolon brewery.

Preliminary works on the project were started in January 2005. Now the main body of the plant is being constructed.

Nowadays the leading Ukraine’s malting producers are Slavutsky malting plant, owned by Soufflet Group, Malteurop company, ZAO Obolon and brewing company Sarmat.

In 2005 ZAO Obolon increased beer production by 37.7% compared to 2004 up to 7.68 million hl.

According to Ukrpivo, the volume of Ukrainian beer market is to account around 23 million hl when in 2005 it came to 21.2 million hl.


Australia & China: Kirin, Lion Nathan and San Miguel will jointly buy malt from Australia and China

Kirin Brewery teamed up with Lion Nathan Ltd. of Australia and San Miguel Corp. of the Philippines in buying malt from Australia and China for this year's beer production, Kyodo communicated on January 14.

Kirin holding a 46 % stake in Lion Nathan and a 20 % share in San Miguel, has launched the joint procurement framework so that the three can negotiate for lower prices with malt producers in those countries, the economic daily said. Kirin buys about 180,000 tons of malt a year for beer to be supplied in the Japanese market. Of that, about 25 % is bought in Australia.

Kirin is negotiating prices for the Australian portion of the malt through the joint procurement framework. In China, Kirin's two Chinese units -- a wholly owned subsidiary in Zhuhai, Guangdong Province, and an affiliate in Dalian, Liaoning Province, have joined forces with San Miguel's four beer factories in negotiations with local malt producers, it said.

Barley News
USA: 2006 Recommended Malting Barley Varieties by AMBA

The American Malting Barley Association, Inc. (AMBA) announced on January 12 its recommended malting barley varieties for planting in 2006, listed in alphabetical order. When delivered to market in pure carlots of sound, bright, plump, low moisture barley in an acceptable protein range, they may command premium prices over feed barley.

Growers are encouraged to contact their local elevator, grain handler or processor to gauge market demand for any variety grown in their region prior to seeding. 2005 crop plantings by variety are included at the end of this announcement.

Changes from 2005: Morex has been dropped as a recommended variety and Stellar-ND has been added. AMBA no longer makes recommendations by state and asks producers to check with local purchasers of malting barley before finalizing planting decisions.

Recommended Six-Row Malting Barley Varieties

Drummond 2002*
Robust 1984
Excel 1990
Stander 1995
Foster 1997
Stellar-ND 2006
Lacey 2000
Tradition 2004
Legacy 2001

* Year the variety was first added to the AMBA list of recommended malting barley varieties.

Stellar-ND, a six-row developed at North Dakota State University has been ...
More Info


Malting barley prices. French barley prices.
Nominal prices.

EURO = USD 1.2130 January 17, 2006 
 Crop year   2005   2006 
 Parity   FOB Creil   FOB Creil 
 Position   July 2005   July 2006 
Type   Variety  EURO  USD  EURO  USD 
2RS  Scarlett  118.00  143.50  121.00  147.00 
2RS  Prestige  117.00  142.00  120.00  145.50 
2RS  Cellar  117.00  142.00  120.00  145.50 
2RS  Sebastien  115.50  140.50  119.00  144.50 
2RS  Astoria  115.00  139.50  118.00  143.50 
2RS  Cork   115.00  139.50  118.00  143.50 
6RW  Esterel   104.00  126.50  107.00  130.00 
Theoretical malt prices.

  EURO = USD 1.2130 January 17, 2006 
Crop year  2005 
Parity  FOB Antwerp 
Position  Dec 2005-Sept 2006 
Conditioning  Bulk   In bags  Bulk containers Bags, containers
Malting barley variety  EURO  USD  EURO  USD  EURO  USD  EURO  USD 
2RS  Scarlett  246.00  298.50  260.50  315.50  260.50  315.50  262.50  318.50 
2RS  Prestige  244.50  297.00  259.00  314.00  259.00  314.50  261.50  317.00 
2RS  Cellar  244.50  297.00  259.00  314.00  259.00  314.50  261.50  317.00 
2RS  Sebastien  243.00  294.50  257.00  312.00  257.50  312.00  259.50  315.00 
2RS  Astoria  242.50  294.00  256.50  311.00  256.50  311.50  259.00  314.00 
2RS  Cork   242.50  294.00  256.50  311.00  256.50  311.50  259.00  314.00 
2RS   Average price  243.50  295.50  258.00  313.00  258.00  313.00  260.50  316.00 
6RW  Esterel   227.50  277.50  243.00  294.50  243.00  295.00  245.50  297.50 
Asia Malt 70/30  239.50  290.50  253.50  307.50  253.50  307.50  256.00  310.50 
**  Asia Malt 50/50  236.50  286.50  250.50  304.00  250.50  304.00  253.00  307.00 

NB: Prices published are theoretical malt prices including financial cost, THC (for bulk and bags container) and all administrative costs. This prices may fluctuate according to the quantity per delivery and technical specifications.

* - 70/30 = 70% Average two Rows Spring and 30% Six Rows Winter
** - 50/50 = 50% Average two Rows Spring and 50% Six Rows Winter

Theoretical malt prices for crop 2006 are available on site www.e-malt.com/MarketPrices

Table of the week

Sweden's Beer Consumption 1983-2004

Year  Consumption,
in '000 hl 
Per capita consumption,
liters 
1983  3,748  45.0 
1984  3,728  44.7 
1985  3,915  47.0 
1986  4,201  50.2 
1987  4,345  51.7 
1988  4,689  55.8 
1989  4,968  58.4 
1990  5,116  60.1 
1991  5,244  61.1 
1992  5,475  62.4 
1993  5,537  63.8 
1994  5,886  67.3 
1995  5,687  64.5 
1996  5,228  59.1 
1997  5,459  61.7 
1998  5,077  57.3 
1999  5,253  59.3 
2000  5,011  56.4 
2001  4,932  55.3 
2002  4,998  55.9 
2003  4,969  55.4 
2004  4,635  51.4 

Source: Swedish Brewers' Association
Newsletter SummaryTop
Graph of the week

Source: USDA, January 2006
Agenda

January 2006:
Big Beers Belgians & Barleywines Festival
Great Alaska Beer & Barley Wine Festival
The Great Alaska Beer
St. Paul Winterfest
Hop Leftoverus Challenge Entrants...
AHA Membership Rally - Boston Beer The Samuel Adams® Brewery.
Atlanta Cask Ale Tasting Sweetwater Brewery.

February 2006:
Pianeta Birra - Beverage & Co.
Sarasota Rhythm & Brews
Florida's best beer festival offering more...
World Brewing Academy International Diploma Conducted at the facilities of Siebel Institute...
August Schell Brewings' Annual Bock Fest...

March 2006:
China Drinktec - China International Exhibition on Beverage, Brewery and Wine Technology
Florida Brewers Guild Beer Festival. Beerfest 2006
Nightclub & Bar/Beverage Retailer Beverage & Food Convention and Trade Show
The 10th China International Exhibition on Beverage, Brewery and Wine Technology
Ale Street News' Ultimate Belgian Tasting


More events are available on site e-malt.com
Copyright © E-Malt s.a. 2006