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Newsletter Summary
Currency rates
Equities of largest breweries
Market prices change trend
Brewery news
Malt news
Barley news
More news
Theoretical malt prices
Malting barley prices
Table of the week
Graph of the week
On These Days
Agenda
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Average market prices
Change trend
09 Oct - 11 Oct 2006
Crop 2006
2rs Barley €167.0-169.0     
6rw Barley €148.0-150.0     
2rs Malt €328.0-330.0     
6rw Malt €304.0-306.0     
Crop 2007
2rs Barley €153.0-155.0     
6rw Barley €131.0-133.0     
2rs Malt €306.0-308.0     
6rw Malt €278.0-280.0     

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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Newsletter 41a, 2006
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Newsletter 40b, 2006
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Newsletter 40a, 2006
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Newsletter 39b, 2006
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Newsletter 39a, 2006

Market price evolutions

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Per Capita Beer Consumption in 2 largest beer markets in North America (1999, 2005)

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.

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E-malt.com Newsletter 41b
October 12 - October 13, 2006
Quote of the week

" Blessed is the mother who gives birth to a brewer. "
Czech saying


Currency Rates
Base Currency: Euro, EUR
on 13-October-2006

1 EUR = 1.2536 USD
1 EUR = 0.6753 GBP
1 EUR = 1.4250 CAD
1 EUR = 1.6778 AUD
1 EUR = 149.899 JPY
1 EUR = 2.7068 BRL
1 EUR = 33.7895 RUB
1 EUR = 9.9344 CNY
 Base Currency: US Dollar
on 13-October-2006

1 USD = 0.7978 EUR
1 USD = 0.5387 GBP
1 USD = 1.1367 CAD
1 USD = 1.3382 AUD
1 USD = 119.576 JPY
1 USD = 2.1592 BRL
1 USD = 26.9531 RUB
1 USD = 7.9245 CNY

EUR/USD Chart

Equities of the Largest Breweries

Top Industry News
UK & South Africa: SABMiller plc released a trading update for the six-month period ended September 30... Click here

Argentina: Quilmes Industrial plans to sell assets to Argentine group Inversora Cervecera in order to comply with anti-trust rule... Click here

Mexico: Modelo's chief unaware of Anheuser-Busch plan to sell 50% stake... Click here

Japan: Beer shipments dropped by 4.7% to lowest level since 1992... Click here

Russia: Baltika-owned Pikra brewery reported loss of RUR34 million for 1H 2006... Click here

EU: Barley production estimated lower 2.24 million t to 54.55 million t... Click here

Canada: Barley production has fallen by 20%, exports expected to decrease by 28%... Click here

EU: Experts believe barley exports to third countries will rank between 100,000 and 200,000 t... Click here

More News
Mexico: Modelo expects 2006 exports to improve by 10% ... More Info

EU: Countries which planted and harvested earlier the barley crop proved to be in great advantage ... More Info

USA: Cargill reports first-quarter fiscal 2007 earnings ... More Info

China: Zhaoke Investment Co. is expected to soon complete acquisition of Jinan Beer brewery ... More Info

USA: Proposal to reopen the malthouse in Cannon Falls is explained by the need to avoid celiac disease ... More Info

Poland: Kompania Piwowarska extended its Depot network ... More Info

USA: Anheuser-Busch launches new super energy drink 180 Blue with Acai ... More Info

Russia: Baltika brewery will place 3rd additional 1.8 million shares issue to convert shares of merged breweries ... More Info

UK: Small fire alert at maltsters Muntons plc in Stownmarket on October 11 ... More Info

Ireland: Diageo launches the six-pointed star Guinness North Star ... More Info

EU: EU barley exports face a rough competition from Black Sea origin barley exports on the international market ... More Info

US: SABMiller develops unique chocolate lager ... More Info

UK & South Africa: WestLB downgraded SABMiller to ‘hold’ ... More Info

USA: The malting barley index stood at US$2.50 per bushel in North Dakota ... More Info

Singapore: Diageo opens SG$13 million logistics hub in Tuas to handle Asia Pacific sales ... More Info

UK: Ministers condemn under-age alcohol sales ... More Info

Poland: Industry report revealed that beer companies posted the healthiest gains in the food industry ... More Info

World: Barley buyers are reluctant to enter the market, prices risk to soar ... More Info

Chile: Chileans started to celebrate Oktoberfest ... More Info

USA: The youngest brewer in the world acquired the oldest brewery in the Midwest of USA ... More Info

India: SABMiller intends to introduce Peroni Nastro Azzuro initially to Mumbai ... More Info

Ukraine: Barley export quotes were set to 600,000 t ... More Info

UK: Scottish & Newcastle UK's director of national sales says the smoking ban will affect less the English pubs than the Scottish ones ... More Info

USA: Tennessee Brewery project moves forward even if neighbors oppose citing their concerns about the excessive height of the 14-story condominium ... More Info

Kenya: East African Breweries Ltd launches Sh28 million sales promotion ... More Info

UK: Blackburn’s Thwaites brewery to celebrate 200 year anniversary in 2007 ... More Info

Bulgaria: About 250,000 ha estimated to be seeded with barley ... More Info



Brewery News
UK & South Africa: SABMiller plc released a trading update for the six-month period ended September 30

SABMiller plc provided October 12 an update regarding trading during the six-month period to 30 September 2006, which is the first half of its current financial year. The calculation of the group's organic growth rate excludes volumes for South America which became part of the group in October 2005.

“The group’s lager sales volumes grew by some 9% on an organic basis in the period, whilst financial performance was in line with management’s expectations.

In South America, favourable trading conditions continued with all countries delivering strong performances, resulting in 11% growth overall in lager volumes for the first half, on a pro forma basis. In Peru, competitor activity at lower prices has stimulated sales volumes. Our integration activities in the region are proceeding well, and we have commenced a period of increased investment in the market place as evidenced by the recent launches in the premium segment of Peroni Nastro Azzurro in Colombia and Barena in Peru. In Central America, both beer and soft drink volumes were up by some 6%, reflecting an improvement in trading conditions.
Europe continued to perform well with organic growth in lager volumes of 8%, assisted by additional consumption during the World Cup. Poland continued to ... More Info

Argentina: Quilmes Industrial plans to sell assets to Argentine group Inversora Cervecera in order to comply with anti-trust rule

InBev announced October 13 that Quinsa has selected Inversora Cervecera, a consortium headed by Mr. Ernesto Gutierrez, to acquire the Palermo, Bieckert and Imperial brands, and the Lujan brewery.

The sale of these assets was required by Argentine anti-trust authorities in connection with the approval of the strategic alliance with AmBev in 2003. Quinsa has submitted the transaction to Argentine anti-trust authorities for approval.

Quinsa is the largest brewer in Argentina, Bolivia, Paraguay and Uruguay, having a share of the Chilean market as well. It also is the main Pepsi bottler in Argentina and Uruguay. AmBev has a more than 91 percent stake in Quinsa, a Luxembourg-based holding company.

AmBev, short for Companhia de Bebidas das Americas, is Latin America's largest brewer and the Brazilian unit of global brewer leader InBev. It makes Brazil's three best-selling beers: Skol, Brahma and Antarctica.

InBev is a publicly traded company based in Leuven, Belgium. The company's origins date back to 1366, and today it is the leading global brewer by volume. InBev's strategy is to strengthen its local platforms by building significant positions in the world's major beer markets through organic growth, world-class efficiency, targeted external growth, and by putting consumers first. InBev has ... More Info

Mexico: Modelo's chief unaware of Anheuser-Busch plan to sell 50% stake

Mexico's Modelo is unaware of any plan by U.S. partner Anheuser-Busch Cos. Inc. to sell its 50 percent stake in the brewer of Corona beer, Modelo's chairman said on October 11, Reuters accordingly released.

Asked if the companies were in talks, Modelo Chairman Carlos Fernandez, who is a member of the U.S. brewer's board and part of the family that controls Modelo, said: "Not that I know of, and I ought to know if there were something."

Shares of Anheuser-Busch, which brews Budweiser, rose 2 percent October 10 to one-month highs, as investors weighed the possibility that the No. 1 U.S. brewer could be bought out by Edward Lampert, the activist investor who controls retailer Sears Holdings Corp. Its shares gave back 1.35 percent on Wednesday.

Some analysts suggested Anheuser-Busch or a future owner could sell its 50 percent stake in Modelo back to the Mexican brewery's controlling family in order to reduce its $7.8 billion debt load.

Modelo, which is debt free and also has more than $1 billion of cash on its books, exports Corona around the world and the beer is the top import in the United States ahead of Heineken's premium brand.

If Modelo's controlling family were to buy ... More Info

Japan: Beer shipments dropped by 4.7% to lowest level since 1992

Shipments of beer in September by five major Japanese manufacturers, including low-malt beverages, dropped 4.7 percent from the year earlier to the lowest level since an industry organization began compiling statistics in 1992, officials said October 12, Mainichi Daily News posted October 12.

Bad weather and a campaign against drink-driving launched by the restaurant industry following a fatal car crash caused by a local government worker in Fukuoka are believed to have discouraged consumers from drinking beer, industry sources said.

Last month, the five companies shipped 40.95 million crates of 20 large beer bottles, including low-malt beer that is not classified as beer under tax laws, according to the Brewery Association of Japan.

Kirin Brewery Co. was the No. 1 brewer over the January-September period, with a market share of 38 percent, followed by Asahi Breweries, Ltd. at 37.3 percent.

Russia: Baltika-owned Pikra brewery reported loss of RUR34 million for 1H 2006

Pikra, a brewery in Krasnoyarsk that is being merged into top Russian brewer Baltika, posted a net loss of RUR33.8 million in the first half of 2006, compared to a net profit of 17.5 million rubles in the same period of last year, the company said in a financial statement, Interfax News Agency released October 11.

Loans came due, which affected the brewery's financial results for the first half, a source at the company told Interfax. However, production grew compared to the same period last year, he said.

Pikra financial highlights for the first half of 2006 ('000 rubles): Pikra’s 1H 2006 sales were said to have decreased to 537,451 hl from 803,251 hl in 1H 2005. Pikra's payables decreased to 206.122 million rubles as of June 30 from 215.432 million rubles at the beginning of the year, and receivables dropped to 228.922 million rubles from 34.463 million rubles. The company's assets shrank to 2.259 billion rubles from 2.31 billion rubles.

Pikra is the biggest producer of beer and non-alcoholic beverages in the Krasnoyarsk territory. Following the completion of an exchange of Pikra shares for new shares in Baltika Brewing Company in July, Baltika now owns 92% of Pikra stock. Pikra will become ... More Info

Barley News
EU: Barley production estimated lower 2.24 million t to 54.55 million t

COCERAL, the European association representing trade in cereals, feedstuffs, oilseeds, olive oil and agro-supply at the European Union, estimated barley production in Europe 2.24 million t lower down to 54.55 million t. This is still above the last year's level of 52.88 million t. This year's estimated production is higher for Germany, France and Spain, and lower for the Czech Republic and Poland, UkrAgroConsult said in its Market Weekly report for October 02-09, 2006.

In the cash market of European feed grains past week an increase in buying activity was reported. The high level of domestic prices is still an obstacle for active export. French barley is at the level of €/t 118-119 FOB Creil.

For the past week Tunisia has bought 125,000 t of Black Sea barley priced US$/t 181.5 – 184 CFR, and that puts FOB values to US$/t150. Jordan announced a tender for 100,000 t barley on October, 18. Saudi didn't find any offers for US$/t 180 CFR.
UkrAgroConsult noticed a decrease in spread between European and Black Sea prices for barley, due to tightening supply.

Ukrainian feed barley is priced 785 UAH/t CPT in big Black Sea ports. As of October 05, Ukrainian farmers ... More Info

Canada: Barley production has fallen by 20%, exports expected to decrease by 28%

According to Agriculture and Agri-Food Canada’ Grains and Oilseeds outlook of October 12, barley production in Canada has fallen by 20%, due to lower area and yields, with supply down by 16%. Exports are forecast to fall by 28%, with higher malting barley exports only partly offsetting lower exports of feed barley.

Despite lower exports and domestic use, ending stocks are forecast to fall sharply. The average off-Board feed barley price is projected to rise by $20/t. The CWB PRO for No. 1 CW feed barley for Pool A is $142/t, vs. $131/t for 2005-06 Pool B. The PRO for SS2R malting barley is $189/t vs. $171/t for 2005-06, due to lower exportable supplies from major competitors and strong import demand from the US.

EU: Experts believe barley exports to third countries will rank between 100,000 and 200,000 t

The European Union will export 1 – 200,000 t of malting barley to third countries, experts asserted October 02.

For comparison these were the latest available production figures in 2005/06: Germany 1.846 million t, France 1.325 million t, UK 1.355 million t, Czech Republic 0.515 million t.

No immediate relief can be expected from next years barley crop. September weather was ideal for planting in the EU, farmers seeded more winter wheat and rapeseed, leaving less space for spring grains. We also expect that the acreage of winter barley, mostly of feed varieties, will increase further in France and Germany. As the climate change is an accepted fact by now, farmers feel safer planting winter crops. The greatest competitor of spring barley is the bio-industry, rapeseed for bio-diesel, maize and other grains for bio-gas and bio-ethanol. Forecasts are that this industry will absorb the whole grain and oilseed surplus of the EU within the next few years. Profits for farmers and industries of this new sector are far better than in the traditional food and feed business. Hopefully present high market prices and possibly pre-contracts for malting barley for next year can convince farmers to still plant sufficient malting barley. ... More Info


Malting barley prices. French barley prices.
Nominal prices.

EURO = USD 1.2536 October 13, 2006 
 Crop year   2006   2007 
 Parity   FOB Creil   FOB Creil 
 Position   July 2006   July 2007 
Type   Variety  EURO  USD  EURO  USD 
2RS  Scarlett  170.00  213.50  156.00  195.50 
2RS  Prestige  169.00  212.00  155.00  194.50 
2RS  Cellar  168.00  211.00  154.00  193.50 
2RS  Sebastien  167.00  209.50  153.00  192.00 
2RS  Astoria  167.00  209.50  153.00  192.00 
2RS  Cork   166.00  208.50  152.00  190.50 
6RW  Esterel   149.00  187.00  132.00  165.50 

Prices for Danish malting barley are available on site www.e-malt.com/MarketPrices

Theoretical malt prices.
  EURO = USD 1.2536 October 13, 2006 
Crop year  2006 
Parity  FOB Antwerp 
Position  Oct 2006-Sept 2007 
Conditioning  Bulk   In bags  Bulk containers Bags, containers
Malting barley variety  EURO  USD  EURO  USD  EURO  USD  EURO  USD 
2RS  Scarlett  331.50  416.00  346.00  433.50  346.00  434.00  360.50  452.00 
2RS  Prestige  330.50  414.50  345.00  432.50  345.00  432.50  359.50  450.50 
2RS  Cellar  329.50  412.50  343.50  430.50  343.50  430.50  358.00  449.00 
2RS  Sebastien  328.00  411.50  342.50  429.00  342.50  429.50  357.00  447.50 
2RS  Astoria  328.00  411.50  342.50  429.00  342.50  429.50  357.00  447.50 
2RS  Cork   327.00  409.50  341.00  427.50  341.50  427.50  355.50  445.50 
2RS   Average price  329.00  412.50  343.50  430.50  343.50  430.50  358.00  448.50 
6RW  Esterel   305.00  383.50  320.50  401.50  320.50  401.50  334.50  419.50 
*  Asia Malt 70/30  322.00  403.50  336.50  421.50  336.50  422.00  351.00  440.00 
**  Asia Malt 50/50  317.50  398.00  332.00  416.00  332.00  416.00  346.50  434.00 

* - 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 2007 are available on site www.e-malt.com/MarketPrices

Table of the week

Australian Barley Supply and Disposal 2001-2007f


in thousand tonnes 2001-2002 2002-2003 2003-2004 2004-2005 2005-2006 s 2006-2007 f
Production 8 280 3 865 10 382 7 740 9 869 5 840
   Domestic use 2 535 2 016 2 476 2 685 2 805 2 921
   as malt and other human use 161 165 168 172 176 180
   feed 2 200 1 650 2 100 2 300 2 450 2 560
   seed 174 201 208 213 180 181
 Exports  5 274 2 608 6 996 4 862 5 760 5 031
   as malting barley 1 705 1 099 2 135 1 464 1 765 1 493
   malt (grain equivalent) 600 624 624 601 595 565
   feed barley 2 971 885 4 241 2 798 3 401 2 972
s - ABARE estimated, f-ABARE forecast. Source - ABARE September, 2006

Australian Barley Crop Forecast

  Area (in 1000 ha) Production (in 1000 tons)
2005 - 2006s 2006 - 2007f 2005 - 2006s 2006 - 2007f
Queensland 156 90 259 122
New South Wales 1,015 900 2,245 1,350
Victoria 937 850 2,059 1,131
South Australia 1,317 1,070 2,685 1,500
Western Australia 1,303 1,070 2,598 1,712
Tasmania 11 10 23 26
Total Australia 4,739 3,990 9,869 5,841
s - ABARE estimated, f-ABARE forecast. Source - ABARE September, 2006
Newsletter SummaryTop
Graph of the week


These Days in Business History
October 12
1918 1st use of iron lung (at Boston's Children Hospital). The iron lung is called a negative pressure ventilator. It enables a person to breathe when normal muscle control has been lost.

October 13
1884 Greenwich established as universal time meridian of longitude
1971 Intel Corp. goes public on NASDAQ.

October 14
1964 Philips begins experimenting with color TV

October 15
1993 Amstel brewery on Curaçao produces 1,000,000,000th bottle
Agenda
October 2006:
International Beer Summit 2006, Japan.
World Beer Festival, USA
Food And Beverages, Novi Sad Fair, Serbia & Montenegro.
MBAA Brewing and Malting Science Course
Lighthouse International Beer Festival, USA.
Belgian Beer Festival. website:www.beerfestival.be
Belgian Beer Fest - Sunday Brunch, USA.
World Food Ukraine / Ingredients Ukraine International Food and Drinks Exhibition

November 2006:
Balkan Food & Drinks 2006, Bulgaria.
World Food Kazakhstan - 2006
Food & Drinks 2006, Georgia.
EBC SYMPOSIUM ON DRINKABILITY, UK.
InterDrink - 2006, Moscow
PeterFOOD - 2006, Saint-Petersburg
Americas Food & Beverage Show
IHGC meetings Germany
Interfood & Drink, Bulgaria
BRAU Beviale European Trade Fair for the Beverage Industry
Interfood Georgia - 2006
Foodapest - 2006, Budapest
International Forum 'Drinks Industry'
InterFood Tajikistan - 2006

December 2006:
12th OBER Kerstbierfestival , Belgium



More events are available on site e-malt.com
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