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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
27 Mar - 29 Mar 2006
Crop 2005
2rs Barley €115.50-117.50   
6rw Barley €102.00-104.00   
2rs Malt €244.50-246.50   
6rw Malt €227.50-229.50   
Crop 2006
2rs Barley €114.00-116.00   
6rw Barley €104.50-106.50   
2rs Malt €239.50-241.50   
6rw Malt €227.00-229.00   

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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Newsletter 10b, 2006

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 13a
March 27 - March 29, 2006
Quote of the week

"Any government that raises the price of beer cannot last longer than the next plum harvest."
Czech proverb

Currency Rates
Base Currency: Euro, EUR
on 28-March-2006

1 EUR = 1.2034 USD
1 EUR = 0.6893 GBP
1 EUR = 1.4071 CAD
1 EUR = 1.7029 AUD
1 EUR = 140.609 JPY
1 EUR = 2.6202 BRL
1 EUR = 33.4372 RUB
1 EUR = 9.6651 CNY
 Base Currency: US Dollar
on 28- March-2006

1 USD = 0.8312 EUR
1 USD = 0.5728 GBP
1 USD = 1.1693 CAD
1 USD = 1.4153 AUD
1 USD = 116.868 JPY
1 USD = 2.1775 BRL
1 USD = 27.7868 RUB
1 USD = 8.0318 CNY

EUR/USD Chart

Equities of the Largest Breweries

Top Industry News
EU: InBev invites trade unions to continue constructive social dialogue... Click here

Netherlands: Heineken faces action to unwind its ownership structure... Click here

Thailand: Srimuang not indicted for leading rally against the listing of Thai Beverage... Click here

UK: Wolverhampton & Dudley Breweries’ financial year results applying IFRS... Click here

USA: Australia's Best Beer now available in United States from Boag's Brewery... Click here

Canada: The Latest AAFC’s Barley Outlook... Click here

Kenya: New yielding variety of barley launched in Kenya... Click here

More News
Australia: ABB Grain opens new fertiliser facilities on the EP ... More Info

UK: SABMILLER appoints Liz Doherty as non-executive director ... More Info

UK: McMullen is to open a new brewery next month in Hertford ... More Info

UK: Britain's oldest brewer invests in 21st century visitor experience ... More Info

Russia: A further decline in barley exports shipments is forecast ... More Info

Denmark & Germany: Danish government is to ask EC to intervene in beer cans’ dispute with Germany ... More Info

Czech Republic: Confusion over the decision of the Czech antimonopoly office in favour of Plzeňský Prazdroj ... More Info

Australia: Perry Gunner re-elected ABB Grain chairman ... More Info

UK: Diageo launches and prices a $400m floating rate note and $600m fixed rate bond ... More Info

USA : Boston Beer to move into space on the top floor of Design Center in South Boston. ... More Info

Czech Republic: The first beer health centre to open in Chodova Plana ... More Info

UK: Shepherd Neame is to sponsor Wings & Wheels 2006 at Dunsfold Park, Surrey in August ... More Info

Australia: Foster’s Group Limited wins top grocery award ... More Info

New Zealand: DB expands beyond beer ... More Info

India: SABMiller to bring its global beer brands in India ... More Info

UK: Diageo agrees funding framework for UK pension fund deficit ... More Info

France: Pernod Ricard core shareholders, Kirin Breweries form shareholder pact ... More Info

USA: Pennsylvania Brewing announces $500,000 expansion ... More Info

USA: Oskar Blues Brewery expands in North Carolina ... More Info

Malaysia: National Press Club gets financial support from Guinness Anchor Berhad ... More Info



Brewery News
EU: InBev invites trade unions to continue constructive social dialogue

Pursuant to the European trade union demonstration on March 28 in Leuven, InBev has invited a delegation from the trade unions to a meeting, the company communicated the same day. InBev said that it wishes to express an understanding for the feelings of the demonstrators and continues working towards a constructive dialogue.

It is InBev’s on-going goal to address and discuss its announced intentions with respect for its employees, the established social partnership principles and the applicable national and international legislature. Wherever there could be repercussions with respect to employment, the basic premise is that InBev would seek to reduce the impact by measures such as natural personnel decreases, internal move or retraining and refresher training. Appropriate social support will be provided to employees who nevertheless lose their jobs. In some cases, InBev provides more than legal requirements stipulate in terms of communication, consultation or compensation.

Additionally in response to the demonstration, InBev highlights the market reality behind its proposed reorganisation.

“It has become necessary for InBev to adapt the size and structure of its organization to take into account the declining and increasingly difficult beer market in Western Europe. By means of stronger cost control it will be possible to ... More Info

Netherlands: Heineken faces action to unwind its ownership structure

Heineken, the Dutch brewing force, faces action to unwind its ownership structure after the Netherlands leading shareholder rights group on March 27 placed it on a blacklist of under-performing and poorly-governed companies, according to Financial Times.

VEB, the Dutch shareholders association, vowed to put pressure on the company over the ownership structure, which it said restricted Heineken's ability to compete with rivals.

The move came as overseas institutional investors continued to scour the Dutch market for new targets for action, Peter Paul de Vries, VEB director, told the Financial Times. Activist investors have already derailed strategy at VNU, the Dutch business information company, and shaken-up century-old governance structures at Royal Dutch Shell.

Mr de Vries said foreign funds had discussed potential targets with VEB, which has close ties to some foreign funds. He declined to name the targets or funds.

Heineken's governance is not a new issue, he said. The Heineken family controls the company by owning a little over half of the shares of a holding company that itself owns just over half of the brewing group.

However, noting "stagnating profits" – which could not all be blamed on US dollar exposure – and concerns that its ownership structure hindered acquisitions at a time ... More Info

Thailand: Srimuang not indicted for leading rally against the listing of Thai Beverage

The Pposecutors decided on March 24 not to indict Maj-Gen Chamlong Srimuang for leading a rally against the listing of an alcoholic drinks company. An advocacy group said the rally provoked conflict and blocked traffic.

The charge against Maj-Gen Chamlong was filed by Thephanom Siriwittaya, who represented the Public Interest Protection Assembly, for leading a rally against the listing of Thai Beverage, on the Stock Exchange of Thailand in mid-2005, Bangkok Post reported on 25 March.

He said the mass demonstration to put pressure on the listing decision caused social disorder and disruption of traffic flow.

The prosecution, however, deemed the charge to be unsubstantiated and decided not to indict Maj-Gen Chamlong on the ground that traffic police had allowed the rally to take place. In light of the pressure, the Securities and Exchange Commission delayed its consideration of the listing application pending the passing of a law aimed at controlling alcohol consumption.

However, ThaiBev is considering listing overseas, in Singapore.The demonstrators stated the listing would send the wrong signal to society, that the government endorsed drinking alcohol. Nevertheless, ThaiBev insisted on the need for the listing, which would finance the company amid growing competition in the alcoholic drinks market.

UK: Wolverhampton & Dudley Breweries’ financial year results applying IFRS

The Wolverhampton & Dudley Breweries, PLC released on March 28 its restated consolidated financial information for the year ended 1 October 2005, applying International Financial Reporting Standards. The company said that the adoption of IFRS will have no impact on the underlying business, cash flows or debt covenants of the Group.

Wolverhampton & Dudley Breweries PLC announced its pretax profit for the year to Oct 1 2005 rises by GBP 6.3 mln when restated for International Financial Reporting Standards (IFRS) to GBP 54.2 mln GBP from GBP 47.9 GBP a year earlier. Revenue for the year is down GBP 41.2 mln GBP to GBP 556.1 mln under IFRS. Profit after tax is up by GBP 5.7 mln to GBP 39.1 mln.

The accounting policy changes that have the most significant impact on the financial statements of the Group for the year ended 1 October 2005 are:
- Excise duty excluded from turnover and operating expenses - no impact on operating profit.
- Goodwill amortisation ceases - operating profit increased by £7.1m.
- Deferred tax liability recognised on property revaluation - net assets reduced by £89.9m, tax charge reduced by £1.0m.
- Post employment obligations - net assets reduced by £65.6m excluding deferred tax.
- Timing of ... More Info

USA: Australia's Best Beer now available in United States from Boag's Brewery

Boag's Brewery announced on March 27 that James Boag's Premium Lager, its flagship brand in Tasmania is available now in America.

Boag's Brewery said James Boag's Premium Lager is offered in bars and restaurants, as well as liquor stores, in the United States. Recognized as Australia's most awarded premium beer, James Boag's Premium Lager has received the Gold Medal from the International Monde Selection for eight consecutive years and was voted Best Australian Premium Beer by Australian retailers for three consecutive years.

American beer enthusiasts will appreciate this quality brew. The European-style lager is made from the finest pilsner malts. It is fermented at a lower temperature and employs an extended maturation period, resulting in a crisp pale lager.

James Boag's Premium Lager is crafted by Boag's Brewery in Tasmania. This island state of Australia has become renowned throughout international markets for the exceptional quality of its food and beverage products. Clean air, pure water and a remote location all contribute to a pristine environment where the world's best beer is brewed.

In the late 1800s, James Boag established his brewery and began creating quality beers using the freshest ingredients. Today, the pride and passion of the Boag's brewers ensures ... More Info

Barley News
Canada: The Latest AAFC’s Barley Outlook

For 2005-06, Canadian exports of barley are forecast by AAFC (Agriculture and Agri-Food Canada) to increase by 34%, due mainly to higher exports of feed barley. Carry-out stocks are forecast to decrease by 11%, but will be high historically, AAFC published on March 27, 2006.

For 2006-07, production is forecast to rise slightly, as lower yields are more than offset by larger area, but total supply is projected to rise only marginally due to lower carry-in stocks. Exports are expected to fall, as higher exports of malting barley only partially offset lower exports of feed barley. Carry-out stocks are projected to drop significantly due to higher feed use. The average off-Board feed barley price is forecast to rise by C$15/t. The CWB 2006-07 PRO for 2-Row and 6 Row designated barley is lower than 2005-06.

Kenya: New yielding variety of barley launched in Kenya

A new high-yielding variety of barley that is also resistant to drought and disease was introduced in Kenya. This new variety, known as Nguzo, is the result of 11 years' work by agriculture experts and researchers. Kenya Maltings agricultural manager, Paul Muthangya, said on March 27 that the new breed was ideal for high altitude areas such as Timau and Mau Narok.

"This breed has been researched for 11 years. We are confident it will enhance barley production because it is resistant to barley yellow dwarf, the biggest threat to the crop," stated Muthangya.

The barley disease, experts say, can cause up to 40 per cent loss in a crop. Muthangya said Nguzo was better than conventional varieties, Sabini and Karne, which farmers have been growing.The Nguzo variety has been derived from blending the good qualities of Sabini and Karne.

"The new variety yields 27 per cent higher than Sabini and 17 per cent more than Karne. It is very good for farming," said Muthangya.

East African Breweries Limited, the region's biggest beer manufacturer, contracts farmers to grow barley for it. EABL's internal affairs manager, Wanjiku Mugo, attributed increased production of barley to EABL's introduction of Senator, which is made with barley ... More Info


Malting barley prices. French barley prices.
Nominal prices.

EURO = USD 1.2034 March 28, 2006 
 Crop year   2005   2006 
 Parity   FOB Creil   FOB Creil 
 Position   July 2005   July 2006 
Type   Variety  EURO  USD  EURO  USD 
2RS  Scarlett  120.00  144.50  117.00  141.00 
2RS  Prestige  117.00  141.00  116.00  139.50 
2RS  Cellar  116.00  139.50  114.00  137.50 
2RS  Sebastien  115.00  138.50  114.50  138.00 
2RS  Astoria  115.00  138.50  114.50  138.00 
2RS  Cork   114.50  138.00  114.00  137.50 
6RW  Esterel   103.00  124.00  105.50  127.00 
Theoretical malt prices.

  EURO = USD 1.2034 March 28, 2006 
Crop year  2005 
Parity  FOB Antwerp 
Position  Mar 2006-Sept 2006 
Conditioning  Bulk   In bags  Bulk containers Bags, containers
Malting barley variety  EURO  USD  EURO  USD  EURO  USD  EURO  USD 
2RS  Scarlett  250.00  301.00  264.50  318.00  264.50  318.50  279.00  335.50 
2RS  Prestige  246.50  296.50  260.50  313.50  261.00  314.00  275.50  331.00 
2RS  Cellar  245.50  295.00  259.50  312.50  259.50  312.50  274.00  329.50 
2RS  Sebastien  244.00  293.50  258.50  310.50  258.50  311.00  272.50  328.50 
2RS  Astoria  244.00  293.50  258.50  310.50  258.50  311.00  272.50  328.50 
2RS  Cork   243.50  293.00  257.50  310.00  257.50  310.00  272.00  327.50 
2RS   Average price  245.50  295.50  260.00  312.50  260.00  312.50  274.50  330.00 
6RW  Esterel   228.50  275.50  243.50  293.00  243.50  293.00  258.00  310.50 
*  Asia Malt 70/30  240.50  289.50  255.00  306.50  255.00  307.00  269.50  324.00 
**  Asia Malt 50/50  237.50  285.50  251.50  303.00  251.50  303.00  266.00  320.50 

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

Shares of the Main Participants in the Brazilian Beer market as of December 2005


Rank Company Market share, % Top Beer Brands in Brazil
1AmBev 69.4 %1. Brahma 19.6 %
2Schincariol 12.2 %2. Nova Schin 11.1 %
3Kaiser 8.7 % 
4Cervejaria Petropolis 5.3 % 
 Others 4.4 % 
Source: ACNielsen
Newsletter SummaryTop
Graph of the week


Agenda


March 2006:
Hops on Equinox Spring Beer Festival More than 80 beers, many of them
Vancouver Beer and Wine Festival Presented By: Alma Mater Society of UBC, Just

April 2006:
Gitchee Gumee Brewfest More than 120 beers from over 30 Upper Midwest brewers
Classic City Brew Fest Mini-festival this year because of venue problems
Master of Beer Styles & Evaluation program The Master of Beer Styles
4TH BREWING RAW MATERIAL SEMINAR (ROHSTOFFSEMINAR) Dealing with market and scientific topics
Newcastle Beer Festival Organized By: Tyneside & Northumberland Branch, Campaign for Real Ale
2006 Australian International Beer Awards
Helsinki Beer Festival 2006. April 7-8, 2006
Okanagon Fest-of-Ale British Columbia's second-largest festival
Taming of the Brew Beer from nearly 20 breweries and distributors
World Beer Cup Competition Judging
BREWER 2006
Craft Brewers Conference & BrewExpo America 2006
BEER. WINES & DRINKS International Beer, Wine and Spirits Manufacturing Exhibition
World Beer Cup Gala Awards Dinner
Spring Beer & Wine Festival
Planet Thanet Ale Festival
Stuttgart Spring Festival
Dunstable Beer Festival
Spring Festival Held on the same Oktoberfest grounds
Peoria Jaycees International Beer Festival
Best of the Midwest Brewers Festival Historic setting
Great Brews From Around the World Beer
City Paper Brew Fest Beer from more than 40 microbreweries
Hickory Hops Brew Festival
Wine&SpiritsAsia International Exhibition of Wine
Reading Beer Festival Organized
Stourbridge Beer Festival
Chippenham Beer Festival
Ballpark Festival of Beers Sampling of 100 to 125 American specialty beers
Reading Phillies Beer Fest Beer
TAP New York 2006 More than 100 beers from New York State craft
Hevelius International Beer Festival - Beverages and Gastronomy Devices Fair
2006 Great Petaluma Chili Cook-off, Salsa, and Beer Tasting Beer from many of

May 2006:
THE 4 th EUROPEAN BEER AND HEALTH SYMPOSIUM
10th Annual Boonville Beer Festival
BIG BREW National Homebrew Day website
Great Japan Beer Festival
Beer Baron's World of Beer
TwinTrack Brewing Microbiology Program
Rugby Beer Festival
Australian International Beer Awards Beer Festival
Long Island Beer Festival Hundreds of beers from nearly 70 breweries
Calgary Brewfest 2006 Beer from Calgary
ALCO + SOFT International Specialized Exhibition of Drinks
Beer International Brewing Technology Exhibition
Iran food and drink tec International Food, Drink and Packaging Technology Trade
Mondial de la Biere Windsor Station & Courtyard


More events are available on site e-malt.com
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