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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
Scientific Digest
Theoretical malt prices
Malting barley prices
Table of the week
Graph of the week
Agenda
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Average market prices
Change trend
20 Apr - 21 Apr 2006
Crop 2005
2rs Barley €117.00-119.00   
6rw Barley €104.00-106.00   
2rs Malt €247.00-249.00   
6rw Malt €230.50-232.50   
Crop 2006
2rs Barley €114.50-116.50   
6rw Barley €105.00-107.00   
2rs Malt €240.00-242.00   
6rw Malt €227.50-229.50   

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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Other e-malt.com newsletters
Last five newsletters
See this Newsletter!
Newsletter 16a, 2006
See this Newsletter!
Newsletter 15b, 2006
See this Newsletter!
Newsletter 15a, 2006
See this Newsletter!
Newsletter 14b, 2006
See this Newsletter!
Newsletter 14a, 2006

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!

Available market price evolutions
E-malt.com graphs
All graphs issued with e-malt.com newsletters are published in "Graph" section of e-malt.com site.
Last five graphs

The graphs are updated from time to time. Just see the updates online on e-malt.com site !

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.

Last five tables
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E-malt.com Newsletter 16b
April 20 - April 21, 2006
Quote of the week

"Young beer must ferment"
~Young people should be given a chance to paint the town red

Currency Rates
Base Currency: Euro, EUR
on 21-April-2006

1 EUR = 1.2345 USD
1 EUR = 0.6915 GBP
1 EUR = 1.4048 CAD
1 EUR = 1.6623 AUD
1 EUR = 145.092 JPY
1 EUR = 2.6215 BRL
1 EUR = 33.9144 RUB
1 EUR = 9.9048 CNY
 Base Currency: US Dollar
on 21- April-2006

1 USD = 0.8101 EUR
1 USD = 0.5602 GBP
1 USD = 1.1379 CAD
1 USD = 1.3466 AUD
1 USD = 117.549 JPY
1 USD = 2.1235 BRL
1 USD = 27.4722 RUB
1 USD = 8.0234 CNY

EUR/USD Chart

Equities of the Largest Breweries

Top Industry News
Canada: Brick Brewing opens of new distribution, warehouse and packaging centre... Click here

Poland: SABMiller introduces Peroni Nastro Azzurro in Poland... Click here

Malaysia: High excise duty for beer would make 2006 a challenging year for the industry... Click here

China: Deutsche Bank cuts Kingway Brewery target to HK$3.86... Click here

The Netherlands: Heineken N.V. General Meeting of Shareholders adopts all proposals on agenda... Click here

Russia: Russian malt imports decline... Click here

EU: Permanent and temporary closures have brought the malt output down to 8 mln tonnes... Click here

EU: The EU Grains Management Committee resumed barley export subsidies... Click here

More News
Russia: In March 2006 Russia exported 114,000 t and imported 21,800 t of barley ... More Info

China: Tsingtao Brewery maintained as 'sell' by Merrill Lynch ... More Info

Albania: Economy Committee puts off lifting beer customs duties ... More Info

Czech Republic: Jihlava brewery produced a record volume of beer ... More Info

Australia: Fatal incident at Abbotsford brewery, Victoria ... More Info

UK: Asahi launches new UK advertising campaign ... More Info

USA: Miller Lite invites Americans to join the 'taste revolution' ... More Info

UK: Belhaven plans to assess the impact of the smoking ban on trade electronically ... More Info

Canada: Big Rock Brewery Income Trust announces monthly distribution ... More Info

Belgium: Hoegaarden takes Gold at the 2006 World Beer Cup Competition ... More Info

Australia: South Australian barley growers can expect slightly better prices ... More Info

USA: Rock Bottom moves temporary shutdown date ... More Info

Brazil: AmBev "buy," target price raised by UBS ... More Info

Nigeria: Bendel Brewery Fund trapped in Sierra Leone ... More Info

USA: Bruce MacDonald - the new chief executive officer of Mad River Brewing Co. ... More Info

Canada: Molson boosts employee volunteerism through its new 'MVP' community support initiative ... More Info

Philippines: San Miguel Corp. will market a dollar-denominated debt and equity issue ... More Info

USA: Stronger Beer accepted in South Carolina ... More Info

USA: Scientists to have the tools that might fight Fusarium headlight ... More Info

USA: Bud Light shares a good laugh with Jibjab Jokebox ... More Info

USA: California Brewery earns Top Honors again at Prestigious International Beer Competition ... More Info



Brewery News
Canada: Brick Brewing opens of new distribution, warehouse and packaging centre

Brick Brewing Co. Limited announced on April 20 the grand opening of its new distribution, warehouse and packaging centre in Kitchener, Ontario.

As one of the fastest growing breweries in Canada, Brick required a centralized warehouse and delivery system and increased packaging capabilities to remain cost-efficient, yet keep up with the growing demand for its beers, especially with the busy summer season just around the corner. The new 100,000 square foot distribution, warehouse and packaging centre is a multi-million dollar project that took 12 months to complete. The investment allows Brick to substantially increase its annual packaging capacity for beer, capacity Brick plans to fully utilize in the coming years.

"This investment allows us to increase our production at substantially lower overall operating costs so we can continue to successfully compete and grow our niche in the highly competitive Ontario beer market," said Doug Berchtold, President and CEO. "Over the past two years, our brands have enjoyed a significant rise in market share, and the additional packaging capacity from this facility will help ensure we meet the expected demand for all our beers this summer." Brick operated at full capacity last summer and expects to nearly double its packaging capacity this ... More Info

Poland: SABMiller introduces Peroni Nastro Azzurro in Poland

SABMiller plc, one of the world’s leading brewers, announced on April 21 that its Polish subsidiary, Kompania Piwowarska (‘KP’), is launching the group’s international premium lager, Peroni Nastro Azzurro, into Poland’s US$250 million premium lager market. As Poland’s leading brewer with a 37% market share, KP has unveiled Peroni Nastro Azzurro in Warsaw with Europe’s second ‘Emporio Peroni’, a minimalist boutique so exclusive that no-one is able to shop there. Situated in the capital’s Sir Norman Foster-designed ‘Metropolitan’ building in the stylish shopping thoroughfare of Pilsudskiego Square, the shop permits window shopping only. This innovative consumer experience will be supported by an integrated marketing campaign that celebrates Peroni Nastro Azzurro’s timeless Italian heritage, rolling out across Poland’s major cities, which will include Warsaw, Cracow, Poznań, Wrocław and Gdańsk-Sopot- Gdynia.

The introduction of Peroni Nastro Azzurro in Poland will reinforce SABMiller’s position in the country’s international premium beer segment, and breathe new life into the category: “We believe that Peroni Nastro Azzurro’s unique, authentic offering – Italian style in a bottle – will bring back the true meaning of ‘premium’ to the category, making it the premier choice for consumers seeking quality, stylish products that look and taste great,” says Chris ... More Info

Malaysia: High excise duty for beer would make 2006 a challenging year for the industry

Carlsberg Brewery Malaysia Bhd is initiating several promotion exercises this year to boost sales of its beer products and increase its market share for Royal Danish Stout, The Edge Daily posted on April 19.

Its chairman Datuk Lim Say Chong expressed confidence that the company will maintain its market leadership for beer products this year even if the government decides to increase excise duties for the fourth straight year. However, if higher taxes and duty were the government's strategy to discourage Malaysians from picking up the bottle, the plan seemed to be working, said Carlsberg chairman Datuk Lim Say Chong.

“The third consecutive increase in duties (last October) has caused a contraction in the size of the market," he said, adding that the government's revenue from the excise duties will be reduced because of the smaller beer market.

Carlsberg Brewery Malaysia Bhd has reiterated that high excise duty for alcoholic beverages, particularly for blond beer and stout, would make 2006 another challenging year for the brewery industry.

Speaking to reporters after Carlsberg’s AGM in Shah Alam on April 19, Lim said the company had found ways to reduce costs through logistic efficiencies and optimising production and work processes since the last excise ... More Info

China: Deutsche Bank cuts Kingway Brewery target to HK$3.86

Deutsche Bank (DB) cuts Kingway Brewery (0124.HK) target price to HK$3.86 from HK$3.92 but maintains buy rating, Dow Jones Newswires posted on April 21.

The bank says it's "positive that its above-industry average growth would sustain through next few years via healthy beer sales growth in existing and new markets (in China)". Predicts FY06 net profit HK$227 million vs HK$198 million year earlier. Says risks for stock include strong competition, price wars, raw material costs hike. Stock down 0.8% at HK$3.25

The Netherlands: Heineken N.V. General Meeting of Shareholders adopts all proposals on agenda

Heineken N.V. announced on April 10 that its Annual General Meeting of Shareholders (AGM) has adopted all proposals on the agenda of the meeting. The most important resolutions are listed below.

Dividend

As an interim dividend of €0.16 was paid on 21 September 2005, the final dividend will be €0.24 per share.

Heineken N.V. shares will be quoted ex final dividend on Monday 24 April 2006. With effect from Monday 8 May 2006 the final dividend of €0.24 per share will be made payable.

Authorisation of the Executive Board to repurchase own shares

The AGM has authorised the Executive Board for the statutory maximum period of 18 months starting 20 April 2006 to repurchase shares subject to the following conditions and with due observance of the law and the Articles of Association:

a. The maximum number of shares which may be repurchased is the statutory maximum of 10% of the issued share capital of the company;

b. Repurchase transactions must be executed at a price between the nominal value of the shares and 110% of the opening price quoted for the shares in the Official Price List (Officiële Prijscourant) of Euronext Amsterdam on the date of the repurchase transaction or, in the absence of ... More Info

Malt News
Russia: Russian malt imports decline

According to the latest figures, Russia imported about 344,000 tonnes in 2005 compared to 555,000 tonnes in 2004. Analysts said that Russian malt imports are anticipated to drop to 150,000 tonnes this year. Lower Russian imports during the past two years explain most of the EU export dilemma.

The Russian malt industry of 1.4 million tonnes is not yet working at 100 % of its capacity, but most of the enterprises are running well and supply the malt demand of the dominating Russian brewing groups. They also export to Ukraine, Kazakhstan and other CIS countries

EU: Permanent and temporary closures have brought the malt output down to 8 mln tonnes

In 2004 the EU still produced 8.7 million tonnes of malt. Domestic needs or beer and whisky are 5.7 – 5.8 million tonnes, exports will be 2.1 – 2.2 million tonnes, according to analysts. Permanent and temporary closures have brought the production down to 8 million tonnes.

During March business was done between maltsters, a clear sign that supply is back in balance with demand. Analysts’ production forecast for 2006/07 is also 8 million tonnes, there will not be any large surplus stocks, which led to desperate price actions in the past.

Barley News
EU: The EU Grains Management Committee resumed barley export subsidies

The EU Grains Management Committee resumed barley export subsidies this week with the approval of licenses to export 27.6 thousand metric tonnes of subsidized free market barley at a 5.9 Euro refund and approved bids to export a total of 7.5 thousand metric tonnes of intervention German barley stocks at a minimum selling price of 95.00 Euro/ metric tonne, according to the latest reports.

The Japanese Ministry of Agriculture (MAFF) purchased 20 thousand metric tonnes of Australian food barley in their weekly grain import tender.

Scientific Digest
Investigation of Beer Flavor by Gas Chromatography-Olfactometry

A. A. Murakami, H. Goldstein, A. Navarro, J. R. Seabrooks, and D. S. Ryder, Miller Brewing Company, 3939 W. Highland Blvd., Milwaukee, WI 53201, U.S.A.

ABSTRACT J. Am. Soc. Brew. Chem. 61(1):23-32, 2003

Gas chromatography-olfactometry (GCO) is an analytical technique for evaluating the aroma characteristics of volatile constituents separated by gas chromatography (GC). This article presents three case studies employing the GCO technique in brewing, including investigation of kettle hop aroma, an off-aroma in beer, and aged-beer aroma. The kettle hop aroma was studied using a GCO technique called CharmAnalysis (DATU, Inc., Geneva, NY) and beer strongly hopped with Oregon Cascade hop pellets at 45 min before end of kettle boil. CharmAnalysis can quantitate the intensity of an aroma detected at a sniff port. It revealed that linalool was an important aroma compound in hopped beer and that phenylethyl alcohol and two coeluting, tentatively identified constituents were important aroma compounds in hopped and unhopped beers. In a second study, GCO was employed for investigating an objectionable aroma described as medicinal/phenolic/Band-Aid in a production beer. GCO was able to reveal the eluting off-odor that matched the off-aroma character in the beer. In a third case study, a quantitative GCO technique called AromaTrax (Microanalytics, Round Rock, TX) was employed to determine aged-beer aroma. This technique revealed that quantitative changes of many minor components possessing unpleasant aroma notes, particularly the carboxylic acids, were involved in aged-beer aroma.
Keywords: Aged-beer aroma, Kettle hop aroma, Off-odor
... Load full article, 10 pages, 625 Kb, PDF file


Malting barley prices. French barley prices.
Nominal prices.

EURO = USD 1.2345 April 21, 2006 
 Crop year   2005   2006 
 Parity   FOB Creil   FOB Creil 
 Position   July 2005   July 2006 
Type   Variety  EURO  USD  EURO  USD 
2RS  Scarlett  122.00  151.00  118.00  146.00 
2RS  Prestige  119.00  147.00  117.00  144.50 
2RS  Cellar  117.50  145.50  115.00  142.00 
2RS  Sebastien  117.00  144.50  114.50  141.50 
2RS  Astoria  116.00  143.50  114.50  141.50 
2RS  Cork   115.00  142.00  114.00  141.00 
6RW  Esterel   105.00  130.00  106.00  131.00 
Theoretical malt prices.
  EURO = USD 1.2345 April 21, 2006 
Crop year  2005 
Parity  FOB Antwerp 
Position  Apr 2006-Sept 2006 
Conditioning  Bulk   In bags  Bulk containers Bags, containers
Malting barley variety  EURO  USD  EURO  USD  EURO  USD  EURO  USD 
2RS  Scarlett  253.00  312.50  267.50  330.00  267.50  330.50  282.00  348.00 
2RS  Prestige  249.50  308.00  263.50  325.50  264.00  325.50  278.50  343.50 
2RS  Cellar  247.50  305.50  262.00  323.50  262.00  323.50  276.50  341.00 
2RS  Sebastien  247.00  305.00  261.50  322.50  261.50  322.50  276.00  340.50 
2RS  Astoria  245.50  303.50  260.00  321.00  260.00  321.00  274.50  339.00 
2RS  Cork   244.50  302.00  259.00  319.50  259.00  319.50  273.50  337.50 
2RS   Average price  248.00  306.00  262.50  323.50  262.50  323.50  276.50  341.50 
6RW  Esterel   231.50  286.50  246.50  304.50  246.50  304.50  261.00  322.50 
*  Asia Malt 70/30  243.50  300.50  257.50  318.00  257.50  318.00  272.00  335.50 
**  Asia Malt 50/50  240.00  296.50  254.50  314.00  254.50  314.00  269.00  332.00 

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

Canada, Malting Barley Percentage of Acreage by Variety, 2005

Variety  Prairie Average  Manitoba  Saskatchewan  Alberta  Percent of 2005-2006 Selections 
Two-Row 
AC Metcalfe  55  59  54  55  54 
CDC Kendall  15  3  20  9  17 
Harrington  9  0  5.3  16  8 
CDC Copeland  12  15  14  9  18 
Merit  1.9  0  1.9  2.4  1.3 
CDC Stratus  1.6  9.4  1  0.9  0.4 
Stein  1.8  0  1.5  2.6  1.9 
Six-Row 
Robust  19  42  4.7  1.4  4 
Excel  31  24  37  25  27 
Legacy  31  17  42  16  63 
B1602  2  0  1.6  16  0 


Recommended Malting Barley Varieties 2006-2007 
Two-Row  Six-Row 
AC Metcalfe   Robust 
CDC Kendall   Excel 
Harrington   Legacy  
CDC Copeland   Tradition  
Merit   CDC Battleford  
Stein    

Newsletter SummaryTop
Graph of the week


Agenda
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

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


June 2006:
ProPak Asia International Food and Drink Processing and Packaging Technology Exhibition
BevTech / BrewTech International Exhibition of Beverage and Brewary Processing and Packaging
IGC GRAINS CONFERENCE 2006
For conference sponsorship opportunities
National Homebrewers Conference
Beer festival - 2006 St.Petersburg

More events are available on site e-malt.com
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