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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
Barley price evolution
Table of the week
Graph of the week
On These Days
Agenda
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Average market prices
Change trend
04 Dec - 06 Dec, 2006
Crop 2006
2rs Barley €212.0-214.0     
6rw Barley €195.0-197.0     
2rs Malt €403.5-405.5     
6rw Malt €382.0-384.0     
Crop 2007
2rs Barley €171.0-173.0     
6rw Barley €151.0-153.0     
2rs Malt €340.0-342.0     
6rw Malt €314.5-316.5     

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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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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South America Barley Malt Imports (2005-2006e)

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 49a
December 04 - December 06, 2006
Quote of the week

"I would give all my fame for a pot of ale and safety"
William Shakespeare, Henry V


Currency Rates
Base Currency: Euro, EUR
on 05-December-2006

1 EUR = 1.3324 USD
1 EUR = 0.6736 GBP
1 EUR = 1.5249 CAD
1 EUR = 1.6919 AUD
1 EUR = 153.89 JPY
1 EUR = 2.8964 BRL
1 EUR = 34.9054 RUB
1 EUR = 10.4434 CNY
 Base Currency: US Dollar
on 05-December-2006

1 USD = 0.7507 EUR
1 USD = 0.5055 GBP
1 USD = 1.1445 CAD
1 USD = 1.2698 AUD
1 USD = 115.514 JPY
1 USD = 2.1738 BRL
1 USD = 26.1976 RUB
1 USD = 7.8381 CNY

EUR/USD Chart

Equities of the Largest Breweries

Top Industry News
China: Grupo Modelo appoints Anheuser-Busch as the Importer of its brands in China... Click here

India: Carlsberg announced it builds brewery in India... Click here

Australia: Foster’s barley costs rise... Click here

UK & China: SABMiller expects Snow beer on the rise in China... Click here

Romania: Special beers account for merely 3% of the market... Click here

Germany & Russia: Friedrich Weissheimer Malzfabrik announced that its 4 German plants are sold to Avangard Bank... Click here

Ireland: Greencore Group plc posted a decline in Malt performance, but a positive trajectory already in place for FY07... Click here

Australia: Barley production is estimated by ABARE to decline to around 3.7 million tonnes... Click here

UK: HGCA Malting Barley Varieties Recommended Lists for 2007-08... Click here

More News
UK: Greene King Plc’s interim results for the 24 weeks ended 15 October 2006 ... More Info

Canada: The government wants to end the monopoly of the CWB on wheat and barley sales ... More Info

Ukraine: Exporters applies all their efforts to complete shipping out barley lots accumulated in ports ... More Info

Nigeria: Nigerian Breweries’ profit after tax rises by 41,6% ... More Info

Denmark: New CEOs in Carlsberg Danmark and Türk Tuborg ... More Info

Australia: Coopers Brewery’s beer sales continued their growth increasing 13.6% on last year ... More Info

Korea: Hite Brewery jumps on share buyback plan ... More Info

Australia: Barley single desk marketing system abolished ... More Info

Uganda: Nile Breweries aids victims ... More Info

Romania: Caru' cu bere projects 2.5m-euro revenues in 2007 ... More Info

USA: Anheuser's InBev pact – analysts’ forecast ... More Info

UK: Malt barely market reform agreed ... More Info

Russia: Barrandov restaurant – a combination of Czech beer and Czech cinema ... More Info

Germany: Bag-in-Box packaging to replace steel kegs ... More Info



Brewery News
China: Grupo Modelo appoints Anheuser-Busch as the Importer of its brands in China

Grupo Modelo, the leader in the production, distribution and sale of beer in Mexico, announced an agreement with its partner Anheuser-Busch to import Modelo’s beers into China as of January 2007, according to Anheuser-Busch press room on December 4th.

The New Contract Allows Grupo Modelo to Leverage A-B’s Solid Distribution Network in China.

Grupo Modelo and Anheuser-Busch have a long history of successful collaboration that began when they partnered in 1993. Modelo is the exclusive importer of Anheuser-Busch’s brands in Mexico, among which Budweiser and Bud Light are notable.

“This new partnership ideally complements the international strategy that Modelo has successfully implemented for several decades. We are very pleased with this association, which offers excellent long-term growth opportunities for Grupo Modelo’s brand portfolio in China, a very important market for our company,” stated Carlos Fernández, chairman of the board of directors and chief executive officer of Grupo Modelo.

“The popularity and high quality of Corona Extra make it an excellent complement to our Budweiser and Harbin beers,” said August A. Busch IV, president and CEO of Anheuser-Busch Cos. Inc. “Corona Extra competes in the super-premium segment of the market, which is experiencing strong growth. With our continued success in this segment, and our ... More Info

India: Carlsberg announced it builds brewery in India

Danish brewing force, Carlsberg A/S, announced on December 7th 2006 it has entered into a joint venture in India with the aim of building a green field brewery in the state of Rajasthan. The name of the joint venture is South Asia Breweries Ltd.

The potential for growth in the Indian beer market is significant. The annual beer consumption per capita is among the lowest in Asia, at only about 0.7 litres per year, and the annual GDP growth rate is more than 9%. The total beer market in India is approximately 8 million hl; however, it is currently among the top 3 markets in Asia in terms of expected growth rates. The total beer consumption in 2005 in the state of Rajasthan and the 3 neighbouring states of Delhi, Haryana, and Uttar Pradesh was 1.7 million hl with a population base of 250 million.

The brewery will have a capacity of 450,000 hl and will be operational in Q1 2008.

Carlsberg will hold 45% of the shares, Industrialisation Fund for Developing Countries ("IFU") will hold 10%, and the remaining 45% will be owned by a group of investors, lead by Carlsberg's partner in Sri Lanka, The Lion Brewery Ceylon Ltd. The main ... More Info

Australia: Foster’s barley costs rise

Foster's Group Ltd. FGL.AX, Australia's top beer and wine maker, expects its grape and barley costs to rise as a result of Australia's drought, but expects to be able to pass most of those costs through to customers, Reuters reported December 6.

Chief Executive Trevor O'Hoy said the company's scale and technology had helped it to prepare for and weather the drought.

"We are very well positioned, so it's not catastrophic," O'Hoy told reporters after speaking at a business lunch.

He said the company's use of aerial photography to predict grape yields and its ability to negotiate discounts with grape and barley suppliers because of its size and reliability as a customer gave it a competitive edge.

"In both cases we will expect higher costs. But, again, I say it's manageable in our case," O'Hoy said.

He reiterated that the company had not been approached by any private equity firms or any other potential suitors, despite takeover speculation that has driven Foster's shares up 26 percent between August and November.

Foster's shares fell 1.5 percent to A$6.43 on Wednesday in a market that was up 0.6 percent.

O'Hoy did not see Foster's as more vulnerable to a takeover now that it has completed its integration of Southcorp, ... More Info

UK & China: SABMiller expects Snow beer on the rise in China

SABMiller Plc's top Chinese beer Snow is set to become the group's biggest brand in 2006 and one of the world's top four beers, but raising profits in the world's biggest beer market will take time, the brewer said, according to Reuters on December 6.

London-based SABMiller , the world's second largest brewer, says the low profitability of the Chinese brewing industry will only improve after further takeover activity in a nation which currently boasts 536 breweries.

SABMiller overtook Tsingtao Breweries Co. Ltd in the first-half of 2006 to be China's biggest brewer, and Snow – China's biggest beer brand since 2005 – has seen volumes almost double in the first nine months of 2006.

The Snow and Miller Lite brewer, which operates in China through its 49 percent stake in China Resources Snow Breweries, expects Snow volumes to top 25 million hectolitres in 2006, not surprising since it sold 24.4 million in the first nine months.

Analysts estimate Snow volumes could reach 26-27 million hectolitres for 2006, ahead of Miller Lite which had volumes of 22 million in 2005 and probably only behind Budweiser, Brazil's Skol and Mexican beer Corona in world beer rankings.

Snow's probably leap to this No 4 ... More Info

Romania: Special beers account for merely 3% of the market

Special beers are one of the latest trends in terms of consumption on the local beer market, but cover only 3% of the market currently, with beer specialties accounting for as much as 10% of the world market, according to Ziarul Financiar report of December, 04.

Volumes of special beer sold are much more profitable than lager beers," says Vasile Joanta, general manager of Galati-based Martens, one of the top ten players on the local market which produces white beer Ma Donna and abbey beer Altvs Abbey Beer. Profitability is high given that worldwide, with a 10% share in the volumes of beer on the market, special beers account for 30% of the market in terms of value.

According to data on the market, 96% of the Romanian consumers still favour blond beer. Only 1% of the market is accounted for by alcohol-free beer or low-alcohol beer.

"If we consider all types of special beer, this segment accounts for some 3% of the Romanian beer market," says Edwin Botterman, president and CEO of Brau Union, the biggest player on the local market. This percentage puts the market of special beers at a volume of 450,000 hectolitres of a beer ... More Info

Malt News
Germany & Russia: Friedrich Weissheimer Malzfabrik announced that its 4 German plants are sold to Avangard Bank

Friedrich Weissheimer Malzfabrik announced on December 4th the creditors’ committee decision taken on December 1st , 2006, to sell the Koblenz, Gelsenkirchen, Bremen and Grossaitingen plants of the Friedrich Weissheimer Malzfabrik to the Russian Avangard Bank.

Friedrich Weissheimer Malzfabrik stated in its press release: “No decision has been made yet for the daughter companies SACHSEN MALZ, BALTIC MALT, MALTAMORE and MALTAGEN.

In April 2006, the Avangard Bank acquired from the Bankingpool the outstanding FWM loans including securities to become a co-shareholder of the FWM Company in order to secure the continuity of the Weissheimer Group within a debt to equity swap. Instead, the Avangard Bank acted as an unfriendly creditor by executing its assignment of receivables towards FWM's customers. This forced the Company into a final insolvency procedure.

Additionally, the CommerzLeasing sold the leased assets of the Grossaitingen plant at a further discount of EUR 3 million resulting in a total discount to Avangard Bank of EUR 13 million.

A small part of this amount would have taken the liquidity strain off the Company in spring 2006. The 143 year long history of the Weissheimer family Company has now come to an end. We take this opportunity to extend our gratitude to all ... More Info

Ireland: Greencore Group plc posted a decline in Malt performance, but a positive trajectory already in place for FY07

Greencore Group plc, one of Europe's leading convenience foods producers and the leading Malt producer in Ireland, UK and Belgium, announced on December 5th 2006 a strong performance for the year ended 29 September 2006. The company posted a decline in Malt performance, but a positive trajectory already in place for FY07.

Greencore Group plc commented in its press release on December 5th: “As anticipated, over-capacity in European malt markets and significant energy price inflation adversely impacted on the performance of our Malt business. We are, however, currently seeing a significant improvement in the malt cycle that commenced in the last quarter of FY06. During the year, we also significantly increased our focus on unlocking the value from the Group's property assets.”

“A recovery in the EU malt market should deliver a trading improvement in the Malt business and that, allied to the exciting property opportunities that we are pursuing, represents a positive outlook for Ingredients, Agribusiness and Related Property.”

The division delivered total operating profit (pre-tax) of Euro27.6m, consisting of continuing operating profits of Euro5.6m and discontinued operating profits of Euro22.0m. This represents a fall of Euro9.1m (24.7%) on FY05 levels, driven by upheavals in the EU sugar market ... More Info

Barley News
Australia: Barley production is estimated by ABARE to decline to around 3.7 million tonnes

Barley production is estimated by ABARE (Australian Bureau of Agricultural and Resource Economics) in its “Australian Crop Report” from December 5th to decline to around 3.7 million tonnes, a 63 per cent drop from the previous season.

New South Wales:

The area planted to barley is estimated to have fallen by 11 per cent to 900 000 hectares in 2006-07, following the late start to the season. Below average spring rainfall is expected to result in signifi cant yield penalties, with production forecast to fall by 76 per cent in 2006-07 to 550 000 tonnes.

Victoria:

The area planted to barley in Victoria in 2006-07 is estimated to have been 850 000 hectares, a 9 per cent decline from the previous year. Production is estimated to be 510 000 tonnes, a 75 per cent fall from the previous season, and the lowest barley production since the 1982-83 drought.

Queensland:

The area planted to barley is estimated to have fallen by 42 per cent, to 90 000 hectares in 2006 07, primarily refl ecting a signifi cant reduction in sowings on the Darling Downs, one of the state’s major barley growing regions. Production is estimated to be 95 000 tonnes, a 63 per cent fall ... More Info

UK: HGCA Malting Barley Varieties Recommended Lists for 2007-08

HGCA reported on November 30th, 2006 its recommended varieties for 2007-08. Eight barley varieties have been added to the HGCA Recommended Lists for 2007/08, while seven have been removed.

Three varieties were grown in HGCA trials in 2006 but were not included in the Recommended List. These are: Blythe, Marado and Shangrila

The new varieties are:

Winter barley
Cassata: Potential brewing variety
Accrue: Two-row feed
Retriever: Two-row feed
Suzuka: Two-row feed
Bronx: Hybrid six-row feed
Pelican: Six-row feed

Cassata was added to the HGCA Recommended List as a potential malting variety with stiff straw and barley yellow mosaic virus resistance. Under test by IBD is a potential malting variety for brewing use. Treated yield similar to Flagon. Good lodging resistance. Good resistance to Rhynchosporium , moderately good resistant to brown rust but very susceptible to yellow rust. Resistant to the common strains of barley mosaic viruses (BaYMV strain 1 and BaMMV). Breeder/ UK agent: Nickerson-Advanta Ltd (www.nickersonuk.com).

Three winter barley varieties were grown in HGCA trials in 2006 but were not included in the Recommended List. These are: Blythe, ... More Info


Malting barley prices. French barley prices.
Nominal prices.

EURO = USD 1.3327 December 06, 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  286.50  174.00  232.00 
2RS  Prestige  214.00  285.50  173.00  230.50 
2RS  Cellar  213.00  284.00  172.00  229.50 
2RS  Sebastien  212.00  282.50  171.00  228.00 
2RS  Astoria  212.00  282.50  171.00  228.00 
2RS  Cork   211.00  281.50  170.00  226.50 
6RW  Esterel   196.00  261.50  152.00  202.50 

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

Theoretical malt prices.
  EURO = USD 1.3327 December 06, 2006 
Crop year  2006 
Parity  FOB Antwerp 
Position  Dec 2006-Sept 2007 
Conditioning  Bulk   In bags  Bulk containers Bags, containers
Malting barley variety  EURO  USD  EURO  USD  EURO  USD  EURO  USD 
2RS  Scarlett  407.50  542.50  421.50  561.50  421.50  562.00  436.00  581.00 
2RS  Prestige  406.00  541.00  420.50  560.00  420.50  560.50  435.00  579.50 
2RS  Cellar  405.00  539.50  419.00  558.50  419.00  558.50  433.50  577.50 
2RS  Sebastien  403.50  537.50  418.00  557.00  418.00  557.00  432.50  576.00 
2RS  Astoria  403.50  537.50  418.00  557.00  418.00  557.00  432.50  576.00 
2RS  Cork   402.50  536.00  416.50  555.00  416.50  555.50  431.00  574.50 
2RS   Average price  404.50  539.00  419.00  558.00  419.00  558.50  433.50  577.50 
6RW  Esterel   383.00  511.50  398.00  530.50  398.50  530.50  412.50  550.00 
*  Asia Malt 70/30  398.50  531.00  412.50  550.00  412.50  550.00  427.00  569.50 
**  Asia Malt 50/50  394.50  525.50  408.50  544.50  408.50  544.50  423.00  563.50 

* - 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

Barley Price Evolution
Australia Barley Price Evolution Q4 2006
Source: ABARE, December 2006

Table of the week

USA Barley Supply and Distribution

 MY June/May, TY Oct/Sept

 1999/00 2000/01 2001/02 2002/03 2003/04 2004/05 2005/06 2006/07*f
 Area harvested, thousand ha  1,851  2,104  1,729  1,669  1,913  1,627  1,323  1,194 
 Yield, t/ha 3.2  3.3  3.1  3.0  3.2  3.7  3.5  3.4 
 Production, thousand metric t 5,922  6,919  5,407  4,940  6,059  6,091  4,613  3,920 
 Imports / Mkt Year, thousand metric t 602  636  521  402  449  264  117  327 
 Imports / Trade Year, thousand metric t 644  663  538  282  497  157  150  300 
 Exports / Mkt Year, thousand metric t  613  1,258  575  659  409  506  605  435 
 Exports / Trade Year, thousand metric t 853  1,068  517  552  384  771  350  400 
 Feed Cons., thousand metric t 2,827  2,951  2,272  1,819  1,617  2,248  1,131  871 
 Total Cons., thousand metric t  6,571  6,407  5,661  5,179  4,990  5,672  4,571  4,246 
 Ending Stocks, thousand metric t 2,424  2,314  2,006  1,510  2,619  2,796  2,350  1,916 
Source: USDA, November 2006, *f - forecast
Newsletter SummaryTop
Graph of the week

Source: HGCA

These Days in Business History
December 04
1619 America's 1st Thanksgiving Day (Va)
1791 Britain's Observer, oldest Sunday newspaper in world, 1st published
1930 Vatican approves rhythm method for birth control
1933 Franklin Roosevelt creates Federal Alcohol Control Administration
1991 Due to Persian Gulf crisis gas hits $1.60 per gallon price in New York NY

December 05
1879 1st automatic telephone switching system patented
1880 Blue Jeans are invented
1901 Walter Elias Disney was born, Chicago IL, animator (father of Mickey Mouse)
1978 European Union establishes EMS, European Monetary System
1985 Dow Jones Industrial Average rises above the 1,500 level for 1st time
1989 France TGV train reaches world record speed of 482.4 kph

December 06
1768 1st edition of "Encyclopedia Brittanica" published (Scotland)
1877 Washington Post publishes 1st edition
1922 1st electric power line commercial carrier in U.S., Utica, New York
Agenda
December 2006:
12th OBER Kerstbierfestival , Belgium

January 2007:
2007 Barley Improvement Conference, USA.
IFBM (The French Institute for Brewing and Malting) Advanced Course In Malting Technology

February 2007:
Singapore international beer festival.

March 2007:
Beer Day, Iceland.
WorldFoodUzbekistan - 2007.
World Barley Malt & Beer Conference.



More events are available on site e-malt.com
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