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Newsletter Summary
Currency rates
Equities of largest breweries
Market prices change trend
Brewery news
Malt news
Barley news
Hops 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
23 Nov - 26 Nov 2006
Crop 2006
2rs Barley €212.0-214.0     
6rw Barley €195.0-197.0     
2rs Malt €399.0-401.0     
6rw Malt €377.5-379.5     
Crop 2007
2rs Barley €173.0-175.0     
6rw Barley €152.0-154.0     
2rs Malt €340.5-342.5     
6rw Malt €314.0-316.0     

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 47a, 2006
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Newsletter 46b, 2006
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Newsletter 46a, 2006
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Newsletter 45b, 2006
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Newsletter 45a, 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
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South America Barley Malt Imports (2005-2006e)
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Beer Consumption in Russia (per capita 1991-2005)
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Top 10 European Beer Brands (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 47b
November 23 - November 26, 2006
Quote of the week

"Fermentation may have been a greater discovery than fire."
David Rains Wallace


Currency Rates
Base Currency: Euro, EUR
on 24-November-2006

1 EUR = 1.2947 USD
1 EUR = 0.6762 GBP
1 EUR = 1.4782 CAD
1 EUR = 1.6715 AUD
1 EUR = 150.802 JPY
1 EUR = 2.8102 BRL
1 EUR = 34.3763 RUB
1 EUR = 10.192 CNY
 Base Currency: US Dollar
on 24-November-2006

1 USD = 0.7725 EUR
1 USD = 0.5223 GBP
1 USD = 1.1418 CAD
1 USD = 1.2909 AUD
1 USD = 116.485 JPY
1 USD = 2.1706 BRL
1 USD = 26.552 RUB
1 USD = 7.8722 CNY

EUR/USD Chart

Equities of the Largest Breweries

Top Industry News
Malaysia: Carlsberg Brewery Malaysia Bhd 3Q 2006 net profit dropped by 20% to MYR24 million... Click here

UK: Brewers tap into new drinking trend with lower-strength beers... Click here

Latvia: Breweries plan to increase beer prices by 10 pct next year... Click here

Romania: Bergenbier brand helped Interbrew Romania to boost sales by 31% in January-September 2006... Click here

Canada: Molson Coors fights rough competition in discount beer segment by building market share for premium brands... Click here

Ukraine: Domestic malt output has grown to 36,000 t in October 2006... Click here

USA: Minnesota Barley Growers Association’ executive director looks for new ways of setting malting barley contract prices... Click here

Canada: The Canadian Wheat Board released the November Pool Return Outlook for the 2006/07 crop year... Click here

Czech Republic: The 2006 hop yield is estimated at 5,200-5,300 t... Click here

More News
Australia: Foster’s saw shares soaring after alleged takeover rumours ... More Info

UK: Brewer Daniel Thwaites reported a 7.7 decline in half year profit ... More Info

Romania: Brewers invested EUR164 million in advertising in January-October 2006 ... More Info

Japan: Suntory will start brewing the Premium Malt beer at the Kyushu Kumamoto facility ... More Info

Latvia: SIA Piebalgas Alus will double beer output in 2007 thanks to new Czech bottling line ... More Info

Germany: Beverage company Wild targets the innovative beer mix drinks market ... More Info

EU: The Court of Justice ruled against the “alcohol booze cruises” ... More Info

Romania: Brau Union’s Golden Brau brand sales upped by 10% in 1H 2006 ... More Info

USA: Internet beer retailers in Vermont will be subject to sales tax collections ... More Info

UK: Hartlepool-based Camerons acquired nine new pubs for £5.3 million ... More Info

Romania: Local branch of the Belgian Martens Breweries aims to double beer exports in 2007 ... More Info

Australia: Broker at WestLB dismissed SABMiller and InBev interest in Foster's ... More Info

UK: Coopers’ Vintage Ale awarded Best Import by Retail giant Tesco ... More Info

Australia: Brokers at Macquarie said InBev is unlikely to bid for Foster's ... More Info

UK: Fuller, Smith & Turner Plc aims for new acquisition on its solid financial standing ... More Info

USA: Granite City has banned sale of 40 ounces or larger glass bottles of beer ... More Info

India: Mumbai-based NCDEX will launch barley futures starting with December 2006 ... More Info

Canada: Big Rock Brewery Income Trust announced CA$0.11 per trust unit monthly distribution ... More Info

Australia: Broker at WestLB dismissed SABMiller and InBev interest in Foster's ... More Info



Brewery News
Malaysia: Carlsberg Brewery Malaysia Bhd 3Q 2006 net profit dropped by 20% to MYR24 million

Carlsberg Brewery Malaysia Bhd posted a net profit of MYR24.36 million for its third quarter ending Sept 30, 2006, down 19.6% from MYR30.31 million a year ago, The Edge Daily posted November 24.

The net profit was affected by higher cost of sales and a comparatively lower margin average, the result of significant lower domestic sales composition, Carlsberg said on Nov 24.

Revenue rose 1.1% to MYR256.67 million from MYR253.76 million. Earnings per share dropped to MYR7.97.

Carlsberg said the higher 3Q revenue, despite a contraction in duty paid sales volume, was due to higher domestic prices following an increase in duties, a better product mix, and higher export sales.

For the nine months, net profit rose 8.6% to MYR79.97 million from MYR73.63 million in the previous corresponding period. Revenue rose 6.61% to MYR751.1 million from MYR704.55 million.

The cumulative increase in revenue and net profit for the nine months of the year, it said, was mainly due to less aggressive price discounting during the Chinese New Year festivities, lower brand and trade marketing costs, and an increase in export sales.

Carlsberg said, while it was pleased with the government’s decision not to impose further excise duties for beer and ... More Info

UK: Brewers tap into new drinking trend with lower-strength beers

Lower-strength beers are making a comeback in Britain as brewers try to recruit new drinkers and offset worries of tighter regulations and fears over excessive, or binge, drinking, beermakers and analysts said November 16, Reuters accordingly reported.

Brewers hope a flurry of new, lower-alcohol beers will tap into a trend away from higher-alcohol premium beers towards more moderate drinking and help deflect pressure on the UK government to tighten up rules over alcohol sales.

The makers of Britain's top two-selling beers, Carling and Foster's, are offering or testing products at half the alcohol of their standard beers, while the brewers of premium beers such as Stella Artois, Beck's and Budweiser have launched products with the same alcohol of their standard cousins.

Britain's drinkers have been encouraged by brewers over the last 20 years towards premium beers, largely from continental Europe, led by the phenomenal growth of Stella Artois and also Kronenbourg 1664 and Grolsch. But now there is a rethink.

Analysts say there is a reaction against high-alcohol beers with UK drinkers demanding a "session" beer for drinking more on one night, while the lower-alcohol beers may encourage more "drinking occasions" and attract new drinkers such as women.

"Over the last three years we ... More Info

Latvia: Breweries plan to increase beer prices by 10 pct next year

Next year breweries will be pushed to increase beer prices because malt prices are showing between a 20-60 pct increase due to the fact that there was a poor barley harvest across Europe this year, and possible growth in tariffs of natural gas and electric, Baltic Business News said.

Eva Sietinsone, chairwoman of JSC Cesu Alus stresses that the beer industry will be not able to avoid a price rise. “Beer prices will be pushed up mainly to the malt price”, she said. At present, we do not have direct estimations, but we expect beer prices to grow by 5-10 pct next year, as malt producers have announced about significant malt price increase due to the poor bailey harvest this year”, admits Sietinsone.

Modris Goba from JSC Agrofirmas Tervete points that malt prices already doubled in EU from EUR 200 to EUR 480 per ton at present. As JSC Agrofirmas Tervete uses its own malt, the beer price will grow as will the Latvian barley prices.

According to Viesturs Silovs from Latvia’s largest brewery Aldaris , currently there is no clarity concerning natural gas and electric price increases but this fact will add more pressure on beer producers.

Romania: Bergenbier brand helped Interbrew Romania to boost sales by 31% in January-September 2006

InBev’s local subsidiary, Interbrew Romania, reported a 31% increase in sales in January-September 2006, the biggest growth rate reported by an InBev group’s affiliate in the Central and Eastern Europe, Ziarul Financiar published November 10.

Interbrew, Romania’s third brewer by volume, performed a growth rate which is double than the InBev’s Russian affiliate (16.2%) and which surpassed by 9 p.p. the Ukrainian branch on InBev. The three markets fueled a 14% increase of InBev’s sales in Eastern Europe.

Interbrew Romania’s sales in January-September 2006 overcame the market’s needs and were three times larger than the company officials’ preliminary estimates.

“This outstanding performance is mainly due to our Bergenbier brand which showed a speedy growth exceeding the sector’s growth during the first nine months of 2006,” Mihai Ghyka stated.

Ghyka also said that Stella Artois and Beck’s premium brands succeeded an aggregated progress of sales of 21.5%.

According to the company’s figures, Interbrew’s market share in January-September reached 21.9% against a 21.5% stake posted at the end of 2005.

Starting with March 2007, Interbrew Romania will proceed upon the merger with Efes Brewery which was entirely purchased in 2006 by InBev. The new company shall be named InBev Romania. In May this year, InBev paid EUR20.8 ... More Info

Canada: Molson Coors fights rough competition in discount beer segment by building market share for premium brands

Under assault in Canada from discount brewers, Denver-based Molson Coors is reinforcing its strategy of relying on higher-priced beers such as Molson Canadian and Coors Light.

"It has been a very competitive environment up there in Canada. Consumers have shown a penchant for buying brands based on price," said Patrick Schumann, an analyst with Edward Jones.

Discounts by InBev NV, owner of premium beer Labatt, and other rivals reduced Molson Coors' Canadian sales volume by 2.5 percent in the third quarter. But Molson Coors has no intention of following Labatt deeper into discount brands, said Molson Coors spokesman Paul de la Plante.

"If our competitors choose to go out and cut prices, it is not going to be automatic for us to do the same," he said. "If we lose unprofitable share because our competitors choose to buy it away from us, so be it."

Instead, Molson Coors is concentrating on building market share for premium brands like Molson Canadian, Coors Light and super-premium brands Rickard's Red and Creemore Springs.

Methods for building market share could include advertising and improvements in the way the company deals with clients and customers, de la Plante said. "We support brands that win for ... More Info

Malt News
Ukraine: Domestic malt output has grown to 36,000 t in October 2006

Ukrainian maltsters produced 36,000 t of malt in October 2006 which induced a 8% year-on-year increment and which is 1.6 times more compared to levels reported for September 2006.

Carry-over stocks were reported to attain 42,300 t, 41% more than the levels registered in the previous month.

According to statistical operative findings, the July-September 2006/07 domestic malt production stood at 115,400 t compared to 114,500 t a year ago.

Barley News
USA: Minnesota Barley Growers Association’ executive director looks for new ways of setting malting barley contract prices

Both feed and malting barley prices continue to move upwards, especially in concert with corn prices, according to Marvin Zutz, executive director of the Minnesota Barley Growers Association.

Even though cash barley prices are good right now, growers haven't heard too much about barley contracts from the maltsters.

“Right now the growers are patiently waiting, hoping the maltsters will come out with contracts in mid-December that will be competitive with the other crops,” he said. “The maltsters are going to have to find out that the producers are going to need stronger prices if they are going to grow barley. That's the long and short of it.”

With some of the other crops already coming out with contracts for the 2007 growing season, Zutz feels the malting industry can't wait much longer if they are going to successfully compete for acres next year.

“We're seeing contracts already for sunflowers and the wheat, corn and soybean people have futures so they can lock in profits and the maltsters are stuck in the mud with their old pricing philosophies,” Zutz said.

“We've tried to impress upon the maltsters the fact that the growers are out there looking at their farm plan for next year already. The farmers ... More Info

Canada: The Canadian Wheat Board released the November Pool Return Outlook for the 2006/07 crop year

The CWB released November 23 its November Pool Return Outlook (PRO) for the 2006-07 crop year. The PRO for feed barley Pool A (which runs from August 1 to January 31) is up $/t7 compared to October. The first PRO for feed barley Pool B (February to July 31) has been announced, with values at $/t175. Designated barley pool returns are forecast at $/t3 to $/t4 higher than last month's PRO (all prices are given in store Vancouver or St. Lawrence, CA$).

Feed barley

Pool A - Given tight export feed barley supplies in the Black Sea, Australia, and U.S., as well as the tightening U.S. corn supply situation, global feed barley prices have increased since last month. Sales in this pool are approaching completion.

Pool B - Unlike feed barley pool A, the feed barley B pool is affected to an extent by global new crop barley supply expectations. Although prices are anticipated to remain strong into the spring of 2007, a return to more typical supply levels will impact feed barley prices going forward.

November PRO 2006-2007:
1 CW - Pool A: $/t177.00 ($/bu3.85)
1 CW - Pool B: $/t175.00 ($/bu3.81)

October PRO 2006-07
1 CW - Pool A: $/t70.00 ($/bu3.70)

Designated barley

Global malting barley prices have ... More Info

Hops News
Czech Republic: The 2006 hop yield is estimated at 5,200-5,300 t

The Hop Growers Union of the Czech Republic said October 27 in its Czech Hop Report that Czech hop growers finished harvesting by the middle of September. The final official numbers for the crop will however be released by the Central Institute for Testing and Supervising in Agriculture in the middle of December.

The Hop Growers Union’ estimates according to the information from the Czech hop growing regions show at an under-average yields especially in the Saaz region where the yields were seriously affected by the damages from the hail storms in May.

There will therefore be a substantial decrease in production compare to the previous years, especially in comparison to crop 2005, since there was also a further decrease in the total acreage.

The Hop Growers Union estimates that there will probably be approx. 2,500 t less hops than in 2005 and approx. 1,000 t less than in 2004. As for the Saaz variety production there will probably be approx. 2,300 t less than in 2005 and approx. 1,000 t less than in 2004. The first estimates show at a total production of around 5,200-5,300 t (with approx. 4,500 t of Saaz variety). If these numbers are confirmed in December ... More Info


Malting barley prices. French barley prices.
Nominal prices.

EURO = USD 1.2947 November 24, 2006 
 Crop year   2006   2007 
 Parity   FOB Creil   FOB Creil 
 Position   July 2006   July 2007 
Type   Variety  EURO  USD  EURO  USD 
2RS  Scarlett  215.00  278.50  176.00  228.00 
2RS  Prestige  214.00  277.50  175.00  226.50 
2RS  Cellar  213.00  276.00  174.00  225.50 
2RS  Sebastien  212.00  274.50  173.00  224.00 
2RS  Astoria  212.00  274.50  173.00  224.00 
2RS  Cork   211.00  273.50  172.00  223.00 
6RW  Esterel   196.00  254.00  153.00  198.50 

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

Theoretical malt prices.
  EURO = USD 1.2947 November 24, 2006 
Crop year  2006 
Parity  FOB Antwerp 
Position  Nov 2006-Sept 2007 
Conditioning  Bulk   In bags  Bulk containers Bags, containers
Malting barley variety  EURO  USD  EURO  USD  EURO  USD  EURO  USD 
2RS  Scarlett  402.50  521.50  417.00  540.00  417.00  540.00  431.50  558.50 
2RS  Prestige  401.50  519.50  415.50  538.50  416.00  538.50  430.50  557.00 
2RS  Cellar  400.50  518.00  414.50  536.50  414.50  536.50  429.00  555.50 
2RS  Sebastien  399.00  516.50  413.50  535.00  413.50  535.00  427.50  554.00 
2RS  Astoria  399.00  516.50  413.50  535.00  413.50  535.00  427.50  554.00 
2RS  Cork   397.50  515.00  412.00  533.50  412.00  533.50  426.50  552.50 
2RS   Average price  400.00  518.00  414.50  536.50  414.50  536.50  429.00  555.00 
6RW  Esterel   378.50  491.00  393.50  509.50  393.50  509.50  408.00  528.50 
*  Asia Malt 70/30  394.00  510.00  408.00  528.50  408.00  528.50  422.50  547.00 
**  Asia Malt 50/50  389.50  504.50  404.00  523.00  404.00  523.00  418.50  541.50 

* - 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

Italian Beer Market (in 000 hl)

Year Production Import Export Consumption
1996 11,117 3,069 428 13,758
1997 11,455 3,341 261 14,535
1998 12,193 3,681 373 15,501
1999 12,179 3,875 379 15,675
2000 12,575 4,142 428 16,289
2001 12,782 4,414 502 16,694
2002 12,592 4,437 689 16,340
2003 13,673 4,664 884 17,453
2004 13,170 4,873 849 17,194
2005 12,798 5,258 716 17,340
Source: Assobirra Annual Report 2005
Newsletter SummaryTop
Graph of the week

Source: Hopsteiner

These Days in Business History
November 24
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November 25
1867 Alfred Nobel patents dynamite

November 26
1987 Matsushita purchases the movie and entertainment company MCA Inc. for $6.6 billion
Agenda
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

January 2007:
2007 Barley Improvement Conference, USA.



More events are available on site e-malt.com
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