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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

11 Dec - 13 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 €169.0-171.0     
6rw Barley €151.0-153.0     
2rs Malt €337.5-339.5     
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. Average Malt Prices are theoretical and based FOB Antwerp being estimated on French malting barley prices. The changes are compared to last Newsletter's prices. Arrows indicate the direction of the change.


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Newsletter 49a, 2006

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Newsletter 48b, 2006

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Newsletter 48a, 2006

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Newsletter 47b, 2006



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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 50a
December 11 - December 13, 2006

Quote of the week

"Happiness is good health and a bad memory."
Ingrid Bergman (1917-1982)


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

1 EUR = 1.3248 USD
1 EUR = 0.6752 GBP
1 EUR = 1.5233 CAD
1 EUR = 1.6869 AUD
1 EUR = 154.883 JPY
1 EUR = 2.8452 BRL
1 EUR = 34.7874 RUB
1 EUR = 10.3867 CNY
Base Currency: US Dollar
on 13-December-2006

1 USD = 0.755 EUR
1 USD = 0.5097 GBP
1 USD = 1.1499 CAD
1 USD = 1.2733 AUD
1 USD = 116.921 JPY
1 USD = 2.1477 BRL
1 USD = 26.2596 RUB
1 USD = 7.8405 CNY

EUR/USD Chart

Equities of the Largest Breweries

Top Industry News
China: SABMiller best positioned in China... Click here

Canada: Brick Brewing reports reduced performance... Click here

Ukraine: Obolon’s beer production increased... Click here

Czech Republic: Purchase of IPB depended on beer agreement... Click here

Japan: Sapporo Holdings anticipates higher profits... Click here

UK: Returns for Maltsters and Growers to Improve as Market Balance is Restored... Click here

Denmark: Scandinavian barley production difficult to predict... Click here

World: The international barley market review... Click here

Czech Republic: Hop production down in 2006... Click here

More News
Japan: Sales growth for Asahi Breweries in November ... More Info

Brazil: AmBev was the market leader in November with 68.8% share ... More Info

Canada: Pro-monopoly farmers win Canada Wheat Board vote ... More Info

Romania: BRAU UNION Romania launched Ciuc Winter Beer during the holiday season ... More Info

Japan: Beer shipments post 1st rise in 3 months ... More Info

Russia: "Ochakovo" announces "Stolichnoe" beer’s relaunch ... More Info

Ukraine: Barley market waiting Government export decision ... More Info

India: CLSA picks up 0.74 pc stake in United Breweries ... More Info

Chile: CCU S.A. announces interim dividend ... More Info

Australia: ABB buys out Graintrust ... More Info

Nigeria: Nigerian Breweries launches Fayrouz new beverage brand ... More Info

Australia: ABB and Lion Nathan stocks slid ... More Info

South Korea: Big Rock Pub offers quality Canadian beer ... More Info

Australia: ABB Grain’s profit lifts to a record A$66.7m ... More Info

Australia: Mad Monk Micro Brewer oversubscribed in Christmas ASX listing ... More Info

Lithuania: Kalnapilis beer wins two silver medals at 2006 World Beer Championships ... More Info

Australia: Lion Nathan drops Independent Liquor bid ... More Info



Brewery News
China: SABMiller best positioned in China

SABMiller plc is “arguably the best positioned” European brewer in China thanks to its 49 percent stake in CR Snow, which has surged to become the biggest brewer by volume and revenue in the country, according to a recent report from Merrill Lynch, Miller Brewing Co. announced December 11, 2006.

Moving forward, the report said, SABMiller is focusing on brand building, particularly behind Snow, which recently became the No. 1 brand in China; driving increased regional scale; and managing price points.

The report maintained a sell rating on Tsingtao - previously the “undisputed leader in the domestic premium beer segment” - saying “intensifying competition is likely to require higher marketing spending to simply defend market share, let alone grow it.”

Anheuser-Busch has a minority ownership stake in Tsingtao. In 2004 it also acquired a stake in Harbin after a bidding war with SABMiller.


Canada: Brick Brewing reports reduced performance

Brick Brewing Co. Limited released on December 13 its third quarter financial results for the quarter ended October 31, 2006.

"Our financial performance in the quarter was partially impacted negatively by one time costs associated with establishing a direct distribution network in Quebec," said Jim Brickman, Executive Chairman and Founder. "This one time expense related to a reduction of Quebec inventories, although we believe that this strategic investment will provide us with improved distribution capabilities for both Brick and partner brands in Quebec into the future" Brickman added.

"Our third quarter performance did not meet our expectations" said Doug Berchtold, President and CEO. "Our gross margins were also adversely affected by the changing package mix of our products and duplicate production overheads," he added. "We are taking more aggressive steps to fully complete our production transition to Kitchener by early in the new year. Both the Quebec distribution transition and the production transition remain fundamental to our overall strategy. We continue to believe that both initiatives will provide ongoing financial benefits in the future," he said.

Third Quarter Financial Highlights:

- Net revenue for the third quarter increased to $8.7 million compared to $8.6 million for the same period last year, ...
More Info


Ukraine: Obolon’s beer production increased

ZAO "Obolon" (Kiev) increased its beer production in November 2006 with 15,2% compared with November 2005, or with 0,8 million dl, and reached 6,1 million dl according to Russian beerunion, December 13.

In 2006 the company produced 86,9 million dl of beer, increasing its production with 21,6% or 15,4 dl compared with 2005. The Ukrainian beer market’s capacity has risen with 12,2% and the sales – with 11,4%. Meanwhile, ZAO "Obolon" has brought up the local sales with 25,8%.

January-November ZAO "Obolon" production share constituted 34,8%, with 2,7% higher than in the same period of 2005. Company’s market share has risen to 3,3% and constituted 29,3%.

"Obolon" increased its exports with 10,5% in January-October period and its export share was of 81,5% from total Ukrainian beer exports.

In 2005 the Ukrainian beer production was of 237,970 million dl, with 23% or 44,434 million dl more than in 2004.

The local market capacity is estimated to 145 – 150 million dl per year.

The Ukrainian beer market is controlled by 4 huge companies: "SUN Interbrew Ukraine", "Obolon", "VVN Ukraine" and "Sarmat" brewery group.


Czech Republic: Purchase of IPB depended on beer agreement

On March 8, 1999, Randall Dillard, who was then executive manager of Nomura International’s Central and Eastern European banking group, sent a letter to the board of Investiční a Poštovní banka (IPB), saying that Japanese investment bank Nomura would purchase a stake in IPB contingent on IPB agreeing to sell its stakes in major Czech breweries to a company that Nomura soon gained control over, Czech Business Weekly published December 11.

CBW obtained a copy of an accusation, called the Information on the Commission of a Crime, which initiated criminal charges against Dillard and two other Nomura managers: Eduard Onderka who was also a director at IPB, and David Thirsk, who was involved in the acquisition of the breweries’ shares. The accusation was prepared by law office Spojené advokátní kanceláře Virág & partneři and commissioned by Československá obchodní banka (ČSOB), successor of IPB.

The accusation includes the list of evidence for the case submitted to Attorney General Marie Benešová on Sept. 14, 2004. It specifically cites Dillard’s letter as one of the most important pieces of evidence. The accusation says that this letter proves Nomura’s main interest in IPB was to obtain the shares in two breweries — Pivovar Radegast and ...
More Info


Japan: Sapporo Holdings anticipates higher profits

Sapporo Holdings Ltd. up 3.3 percent to 726 yen after Merrill Lynch lifted its rating on Japan's third-biggest brewer to buy from neutral and set the target price of 900 yen, Reuters reported December 11.

Merrill Lynch analyst Ritsuko Tsunoda wrote in a note to clients on Friday the brokerage expects Sapporo's earnings to bottom out from the business year ending December 2007, with the medium-term business plan targeting lower fixed costs.

"We anticipate a robust 29 percent increase in (calendar 2007) operating profit, with contribution from the acquisition of Canada-based Sleeman and higher rental income from property development," she said.

The Sapporo Breweries Ltd. unit of Sapporo Holdings said in October it succeeded in its bid to buy up Canadian Sleeman Breweries Ltd., in a deal worth C$300 million ($265 million).

Malt News
UK: Returns for Maltsters and Growers to Improve as Market Balance is Restored

The past two years have been two of the most difficult ever encountered by British maltsters, according to MAGB Chairman’s statement from November 7th 2006.

"Malt prices have been driven down to historic lows as a result of global overcapacity and sustained downward pressure from buyers. The UK, however, faced up to this challenge and led the industry by making the difficult decision to close malting capacity in the UK. We have seen Continental and North American maltsters follow our lead with further closures being announced in the past year. Rather sadly we also had the high profile collapse of one of Europe’s largest malting companies, which left some breweries without the malt they thought they had secured", MAGB Chairman stated.

"As supply and demand comes back into balance nature reminds us that we can never take for granted an adequate supply of quality raw material. European malting barley crops were looking promising as we approached the summer, but persistent rains during harvest led to crop failures in some key producing Northern and Eastern European countries. At the same time Australia has experienced a drought which has affected its malting barley. Fortunately the UK avoided the worst of the weather, but malting ...
More Info

Barley News
Denmark: Scandinavian barley production difficult to predict

Weather continues to be mild after record high temps. September, October and November. Winter crops are progressing well but a sudden real winter could change things as well. With winter crops well advanced a spell of frost without snow cover could this year have disastrous effects. Consequently Scandinavian participation in the EU spring barley production is more difficult to predict than for several years, mentioned H. Abildstrom&Co. ApS in his 13th November report.

Prices all aver EU showed a hardly ever seen steep rise practically unbroken from 15th August. Old crop prices in fact are still very firm in France, Germany England and obviously in Scandinavian countries. Turnover, however, lost speed after the BRAU Nurnberg in November. New crop especially lost wind and has recently lost 3-10 Euros dependent on market.

Trade out of Denmark is momentarily almost non-existent, but any inquiry will still be met with the high levels mentioned below irrespective of 1st or 2nd hand offerings. For the first time though, there seems to appear some farmer interest to sell. They are asking exorbitant prices but if their burley is found in order, especially goods bellow 11,5%, the merchants are paying up. The Danish malsters – though ...
More Info


World: The international barley market review

Brewing accounts for about one-third of barley usage, World Commodity Profiles Via Thomson Dialog News Edge stated December 12.

Special varieties have been bred for malting, with a further distinction between types suitable for low-alcohol and high-alcohol beers. In some countries, farmers have contracts with maltsters to grow particular varieties. Whether or not malting barley is fit for the intended purpose depends much on the weather: high protein content seriously impairs malting quality. Grain that fails to meet malting standards is sold for feed, as are the by-products of the brewing industry. While the brewing industry is still chiefly based in industrialised countries, it is growing fast in East Asia notably China and in Latin America. Barley remains a staple food in some rural areas in East Asia and North Africa and there is a niche health food market in North America and Europe. Ethanol production represents a new use for barley, so far limited to the EU.

Regional consumption trends

World usage of barley was declining until the late 1990s, when growing feed demand, especially in the Commonwealth of Independent States (CIS), brought a limited recovery. Consumption now averages about 145m tonnes/year (t/y). Some 100m tonnes are used for animal feed, representing ...
More Info

Hops News
Czech Republic: Hop production down in 2006

Czech hop growers produced 5453,4 t of hops in 2006, according to Hop Growers Union of the Czech Republic, December 14.

The average yield for 2006 was 1,01 t/ha. The total production was 30,4 % down from 2005 and 13,6 % down compared to 2004.

The total production in the main growing region of Saaz reached 3645,5 t of hops, the highest yields were recorded in the Moravian Tirschitz region with 1,54 t/ha.
Saaz, the main Czech variety, accounted for 86,5 % of the Czech hop production with average yield of 0,96 t/ha and total production of 4717,9 t.

Saaz hop growing region produced 3181,6 t of Saaz variety, Auscha hop region 682 t, and Tirschitz hop region 854,3 t of Saaz.

The main reason for the lower crop in the Saaz hop growing region were the damages after two hail storms in May and June. The crop in all areas and especially the alpha content was influenced by the tropical weather in July.

Lower crop than in previous years was recorded with the new Czech varieties Sladek and Premiant, where yields were also largely affected by hail storms in May.
The acreage of varieties Sladek, Premiant and Agnus is increasing year by ...
More Info


Malting barley prices. French barley prices.
Nominal prices.

EURO = USD 1.3248 December 13, 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  285.00  172.00  228.00 
2RS  Prestige  214.00  283.50  171.00  226.50 
2RS  Cellar  213.00  282.50  170.00  225.50 
2RS  Sebastien  212.00  281.00  169.00  224.00 
2RS  Astoria  212.00  281.00  169.00  224.00 
2RS  Cork   211.00  279.50  168.00  222.50 
6RW  Esterel   196.00  260.00  152.00  201.50 

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

Theoretical malt prices.
  EURO = USD 1.3248 December 13, 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  539.50  421.50  558.50  421.50  558.50  436.00  577.50 
2RS  Prestige  406.00  538.00  420.50  556.50  420.50  557.00  435.00  576.00 
2RS  Cellar  405.00  536.50  419.00  555.00  419.00  555.50  433.50  574.50 
2RS  Sebastien  403.50  534.50  418.00  553.50  418.00  553.50  432.50  572.50 
2RS  Astoria  403.50  534.50  418.00  553.50  418.00  553.50  432.50  572.50 
2RS  Cork   402.50  533.00  416.50  552.00  416.50  552.00  431.00  571.00 
2RS   Average price  404.50  536.00  419.00  555.00  419.00  555.00  433.50  574.00 
6RW  Esterel   383.00  508.50  398.00  527.50  398.50  527.50  412.50  546.50 
Asia Malt 70/30  398.50  527.50  412.50  546.50  412.50  546.50  427.00  566.00 
**  Asia Malt 50/50  394.50  522.50  408.50  541.00  408.50  541.50  423.00  560.50 

* - 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

Europe Barley Crop Estimate 2005 and Forecast 2006

Country Year BARLEY  thereof SPRING BARLEY 
    Area
1000 ha
Yield
100kg/ha
Production
1000 t
Area
1000 ha
Yield
100kg/ha
Production
1000 t
Austria  2006  206  44.0  906  142  41.3  586 
2005  192  45.9  881  119  41.8  498 
Belgium/Lux.  2006  58  75.0  435  66.0  56 
2005  50  71.6  358  64.0  32 
Denmark  2006  677  48.1  3 253  519  45.5  2 361 
2005  705  53.9  3 800  566  52.3  2 961 
Finland  2006  564  32.0  1 805  564  32.0  1 805 
2005  594  35.0  2 079       
France  2006  1 662  62.7  10 421  493  57.1  2 815 
2005  1 606  65.0  10 439  545  58.4  3 183 
Germany  2006  2 031  59.1  12 007  548  46.8  2 563 
2005  1 947  59.7  11 614  602  46.4  2 795 
Greece  2006  170  18.0  306       
2005  150  20.0  300       
Ireland  2006  150  58.8  882  135  57.0  770 
2005  153  55.8  854  140  54.0  756 
Italy  2006  325  37.5  1 219       
2005  320  37.5  1 200       
Netherlands  2006  44  61.2  269  41  60.7  249 
2005  53  63.6  338  50  63.3  317 
Portugal  2006  41  23.0  94       
2005  34  7.0  24       
Spain  2006  3 136  25.8  8 100  2 370  26.2  6 200 
2005  3 200  13.9  4 449  2 310  14.4  3 324 
Sweden  2006  305  36.5  1 112  299  36.3  1 085 
2005  371  33.1  1 593  366  42.7  1 562 
U.K.  2006  880  59.1  5 201  498  52.2  2 600 
2005  941  58.9  5 545  558  54.9  3 065 
TOTAL EU-15  2006  10 249  44.9  46 010  5 618  37.5  21 090 
2005  10 316  42.1  43 474  5 261  35.2  18 493 
Cyprus  2006  50  22  50       
2005  50  22.0  110       
Czech Rep.  2006  529  37.1  1 963  426  37.0  1 576 
2005  522  42.1  2 196  397  41.5  1 646 
Estonia  2006  125  21.0  263  123  21.0  258 
2005  142  25.8  366  141  25.8  364 
Hungary  2006  300  38.0  1 140  122  37.7  436 
2005  324  26.4  1 227  151  35.0  519 
Latvia  2006  142  20.0  284  140  20.0  280 
2005  149  18.6  277  146  18.6  272 
Lithuania  2006  305  23.2  708  295  23.0  679 
2005  349  27.2  949  342  27.0  923 
Malta  2006  26.0       
2005  27.5       
Poland  2006  1 225  26.8  3 283  1 070  26.0  2 782 
2005  1 110  30.8  3 420  960  30.0  2 880 
Slovakia  2006  186  36.7  683  167  37.0  618 
2005  206  38.8  800  172  37.2  640 
Slovenia  2006  17  36.0  61       
2005  15  39.6  61       
TOTAL new 10 members  2006  2 880  29.3  8 436  2 343  28.3  6 628 
2005  2 868  32.8  9 409  2 309  31.4  7 243 
TOTAL EU-25  2006  13 129  41.5  54 446  7 961  34.8  27 719 
2005  13 184  40.1  52 883  7 570  34.0  25 736 
Romania  2006  330  21.9  723  200  19.3  386 
2005  391  24.5  958  165  21.0  347 
Bulgaria  2006  210  24.5  515  25  20.0  50 
2005  242  25.6  620  30  22.0  66 
Serbia  2006  115  38.3  440  45  31.0  140 
2005  140  32.3  452  70  27.5  193 
Croatia  2006  59  32.5  192       
2005  45  31.0  140       
Bosnia  2006  20  25.0  50       
2005  20  25.0  50       
Macedonia  2006  35  25.0  88       
2005  55  25.0  138       
Albania  2006  10  30.0  30       
2005  10  30.0  30       
TOTAL Non EU  2006  779  26.1  2 037  270  21.3  576 
2005  903  26.4  2 387  265  22.8  606 
TOTAL EUROPE 31  2006  13 908  40.6  56 483  8 231  34.4  28 294 
2005  14 087  39.2  55 270  7 835  33.6  26 341 
Source: COCERAL, 8 December 2006
Newsletter SummaryTop
Graph of the week


These Days in Business History
December 11
1812 1st newspaper on Curaçao (Curaçao Gazette & Commercial Advertiser)
1901 Marconi sends 1st transatlantic radio signal, Cornwall to Newfoundland
1930 Bank of the United States opens in New York NY
1967 SST prototype "Concorde" 1st shown (France)
1985 General Electric acquires RCA Corp & its subsidiary
1985 Dow Jones closes above 1,500 for 1st time (1,511.70)

December 12
1791 Bank of the US opens
1800 Washington DC established as capital of US
1858 1st Canadian coins circulated (1¢, 5¢, 10¢ & 20¢)
1878 Joseph Pulitzer begins publishing "St Louis Dispatch"
1901 Marconi receives 1st transatlantic radio signal, England to US
1991 Maastricht Treaty signed to create a European Community

December 13
1734 England & Russia sign trade agreement
1789 1st loan to U.S. Government (from New York City banks)
1898 Hannibal Goodwin patents celluloid photographic film
1983 British Airways incorporates
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
Copyright © E-Malt s.a. 2006