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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

05 Feb - 07 Feb, 2007
Crop 2006
2rs Barley €211.0-213.0 0.47%
6rw Barley €185.0-187.0 0.54%
2rs Malt €409.5-411.5 0.24%
6rw Malt €376.5-378.5 0.27%
Crop 2007
2rs Barley €158.0-160.0 0.63%
6rw Barley €142.0-144.0
2rs Malt €332.0-334.0 0.30%
6rw Malt €311.5-313.5

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 05b, 2007

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Newsletter 05a, 2007

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Newsletter 04b, 2007

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Newsletter 04a, 2007

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Newsletter 03b, 2006



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E-malt.com Newsletter 06a
February 05 - February 07, 2007

Quote of the week

"Religions change, but beer and wine remain."
Harvey Allen


Currency Rates
Base Currency: Euro, EUR
on 07-February-2007

1 EUR = 1.294 USD
1 EUR = 0.6589 GBP
1 EUR = 1.5304 CAD
1 EUR = 1.668 AUD
1 EUR = 155.648 JPY
1 EUR = 2.7014 BRL
1 EUR = 34.3341 RUB
1 EUR = 10.0506 CNY
Base Currency: US Dollar
on 07-February-2007

1 USD = 0.7729 EUR
1 USD = 0.5092 GBP
1 USD = 1.1827 CAD
1 USD = 1.2891 AUD
1 USD = 120.288 JPY
1 USD = 2.0876 BRL
1 USD = 26.5329 RUB
1 USD = 7.7669 CNY

EUR/USD Chart

Equities of the Largest Breweries

Top Industry News
Japan: Kirin Brewery’s profit rises 4.4% due to higher demand for alternative beers... Click here

Chile: During 2006, CCU’s beer sales in Chile reached more than 4.7 mln hl, representing a 12.9% increase... Click here

South East Europe: Carlsberg concentrates breweries in the Balkans... Click here

Finland: Beer sales in 2006 remained similar to the previous year... Click here

EU: Malsters should avoid the risk of major price changes in the barley markets... Click here

EU: Analysts’ malt quotations as of February 2nd, 2007... Click here

Canada: 2006-07 barley exports are forecast to decrease significantly... Click here

EU: Barley quotations up for both old and new crops... Click here

EU: French farmers already sold 30 - 40 % of their expected malting barley production of 2007... Click here

More News
Brazil: Schincariol brewery names a new CEO as part of a management shake-up ... More Info

Ethiopia: Four out of the five breweries in the country have started making price adjustments on beer ... More Info

USA: Miller to launch Mexican-style beer ... More Info

Malaysia: Carlsberg Brewery Malaysia appoints new Managing Director ... More Info

India: Lord Karan Bilimoria sees India as the biggest market for Cobra beer ... More Info

USA: Pittsburgh Brewing has 3 weeks to get deal done ... More Info

Belgium: InBev’s rating raised to 'buy' vs 'hold' at Gilissen ... More Info

Japan: Asahi Breweries announced an increase in dividend for the year ended December 2006 ... More Info

USA: Lakefront Brewery sales up 41% in 2006 ... More Info

USA: Anheuser-Busch tries new fruity beer additives ... More Info

Vietnam: SABMiller Vietnam launches new Zo Rok beer brand for Tet festival ... More Info

Ukraine: Feed barley market remained unchanged ... More Info

Vietnam: Carlsberg still hopes to get a stake in Vietnamese state-owned brewer Hanoi Beer Company ... More Info

USA: Anheuser-Busch wins USA Today Ad Meter title ... More Info



Brewery News
Japan: Kirin Brewery’s profit rises 4.4% due to higher demand for alternative beers

Kirin Brewery Co., Japan's biggest beverage company, said 2006 profit rose 4.4 percent as increased demand for alternative beers and soft drinks pushed up sales, Bloomberg reported February 7.

Net income rose to 53.5 billion yen ($445 million), or 55.98 yen per share, from 51.3 billion yen, or 53.23 yen per share, in 2005, the company said in a statement to the Tokyo Stock Exchange today. Sales rose 2.1 percent to 1.67 trillion yen.

The Tokyo-based company, which wants to become Asia's biggest brewer, is strengthening international operations through seeking business partners and has pooled 300 billion yen for investments. Kirin expects to achieve sales of 2.15 trillion yen in 2009 after buying a 50.12 percent stake in Mercian Corp., the nation's biggest wine producer, in December.

Kirin had forecast a 2006 profit of 54 billion yen on sales of 1.68 trillion yen. For 2007, the company estimates profit will rise 2.8 percent to 55 billion yen on sales of 1.88 trillion yen, up 13 percent.

Shares of Kirin rose 0.5 percent, or 10 yen, to 1,913 yen in Tokyo trading today after it announced full-year earnings results.

Kirin, which celebrates its 100th anniversary this year, said last month it ...
More Info


Chile: During 2006, CCU’s beer sales in Chile reached more than 4.7 mln hl, representing a 12.9% increase

CCU announced in its press release, February 5, its consolidated financial results, stated in Chilean GAAP for the fourth quarter and full year ended December 31, 2006. All US dollar figures are based on the exchange rate effective December 31, 2006 (US$1.00 = Ch$532.39).

The year 2006 marked new records for CCU. Volumes reached 13.4 million hectoliters (HL), consolidated revenues grew to Ch$545,797 million (US$1,025.2 million), operating income increased to Ch$79,692 million (US$149.7 million) and EBITDA to Ch$121,761 million (US$228.7 million).

CCU also had a very positive fourth quarter. Consolidated revenues grew 10.4%, operating income increased 20.1%, net income grew by 15.1% and EBITDA increased 14.8%. These results are attributable to better performance in almost all of our business segments during the quarter.

This quarter, the operating income of the Chilean beer segment increased 16.7%, explained by higher volumes and prices, which grew by 7.9% and 1.8%, respectively. During 2006, beer sales reached more than 4.7 million HL, representing a 12.9% increase. The Argentine beer business grew its revenues by 32.7% and its EBITDA by 21.8%, due to 18.0% higher average prices and 11.2% volume growth during the quarter. Prices increased due to lower discounts and a higher mix of premium products, such ...
More Info


South East Europe: Carlsberg concentrates breweries in the Balkans

To further accelerate growth and efficiency by driving and sharing knowledge and key competencies across the Balkans Carlsberg have created a new organizational structure for the Carlsberg companies in Serbia, Croatia and Bulgaria, according to Carlsberg Company’s news room, February 6.

The new organization is named Carlsberg South East Europe and headquartered in Belgrade in Serbia.

In several functions such as production, procurement, logistics etc., there will be established a functional lead and management across the countries, whereas front end commercial responsibility will remain local.

"We are now taking the next step in the development of the Carlsberg companies in South East Europe. The new organization will bring us closer together in the region and we will gain benefits from the sharing of knowledge and key competences – not only in terms of efficiency but also in terms of ability to grow," say Executive Vice President Jørgen Buhl Rasmussen, responsible of Carlsberg's business in Eastern Europe.

Isaac Sheps is appointed CEO of Carlsberg South East Europe reporting to Executive Vice President Jørgen Buhl Rasmussen. Isaac Sheps will also take the roles of CEO of Carlsberg Serbia (his present job) and Carlsberg Croatia.

Alexander Grancharov will remain as CEO of Carlsberg Bulgaria reporting to ...
More Info


Finland: Beer sales in 2006 remained similar to the previous year

A total of 846.5 million litres of beer, cider, long drinks, soft drinks and mineral waters produced by members of the Finish Federation of the Brewing and Soft Drinks Industry were sold in 2006, representing a 2.5 per cent rise in domestic sales on the previous year, according to Federation’s release February 7. Non-alcoholic beverages – soft drinks and mineral waters – accounted for a significant proportion of sales growth, while beer sales remained almost at the same level as in the previous year. Cans also increased their share of sales.

A total of 281.6 million litres of soft drinks were sold, representing growth of 3.2 per cent or 8.7 million litres. Sales of sugar-free soft drinks rose by 10.6 per cent and accounted for 32.7 per cent of all soft drinks sold.

Figures for beer sales remained similar to the previous year, with sales rising by 0.05 per cent to a total of 425.7 million litres.

Retail accounted for 77 per cent, restaurants 20 per cent and Alko about 3 per cent of beer sales in 2006. Although the retail trade increased its share, sales in the restaurant sector and Alko stores declined.

Beer sold in refillable bottles accounted for 61.1 ...
More Info

Malt News
EU: Malsters should avoid the risk of major price changes in the barley markets

A year ago malt for the crop of 2006 was sold at levels of EUR 230,-/240,-, leaving malting margins of EUR 50,-/60,-, sometimes less, against the market prices of malting barley before the harvest, market analysts commented. According to them, the catastrophic barley crop catapulted barley prices to the level of the former malt sales.

One must stress the fact once more: if maltsters cover bad malt sales now, they book losses of EUR 150,-/200, - per ton, on basis of a production cost of about EUR 100, - per ton. It looks as if most maltsters have learnt their lessons; they know that there is at least a balance of supply and demand, maybe even a short of malt also for the next crop year. They need a malting margin well above EUR 100,- in view of the risen cost of energy, transport etc. And they must and will do the malt sale/barley purchase operation on a back to back basis to avoid the risk of major price changes in the barley markets.


EU: Analysts’ malt quotations as of February 2nd, 2007

Present malt markets for 2rs malt are EUR 435,-/445,- for prompt delivery, FOB seaport, if at all available, and EUR 365,-/375,- for new crop malt, shipment October/December of this year. Contracts for domestic business, delivery in 2008, franco breweries, have been concluded in the range of EUR 365,/380,- per ton.

Barley News
Canada: 2006-07 barley exports are forecast to decrease significantly

For 2006-07, Canada barley exports are forecast by Agriculture and Agri-Food Canada (AAFC) to decrease significantly due to lower exports of feed barley. Carry-out stocks are forecast to decrease to the second lowest in recent history. Off-Board feed barley prices are expected to average significantly higher than 2005-06, due to high corn prices in the US and low supplies of barley in Canada, AAFC stated in its Grains And Oilseeds Outlook on February 6, 2007.

For 2007-08, barley production is forecast to increase by 21% due to higher area seeded and yields. Total supply is also forecast to rise sharply. Exports are expected to increase slightly, while feed use remains similar to 2006-07. Carry-out stocks are expected to increase. The average off-Board feed barley price is forecast to fall by 10%, as the pressure from higher domestic and global barley production more than offsets the support from higher corn prices. For similar reasons, CWB pool returns are forecast by AAFC to decline, particularly for two-row designated barley.


EU: Barley quotations up for both old and new crops

According to market analysts, French two-row spring barley, variety Scarlett, had been quoted down to EUR 215,-, July, FOB Creil, in recent weeks, but has gone back up to 220, - . The parity FOB Moselle demands a premium of min. EUR 10,-. Six-row winter barley, variety Esterel, had been quoted at EUR 195,-FOB Moselle, but has traded now at an equivalent level of EUR 200,-.

New crop 2rs at EUR 165,- FOB Creil and 177,- FOB Moselle have also gained EUR 4,- to 5,- from their lowest levels. The Danish market has not yet reacted to the firmer trend, old crop 2rs is quoted EUR 224,- FOB seaport, February/March shipment, new crop for October at 175,-. Tight supplies are most obvious in Germany, February delivery traded at EUR 245, - franco malthouse, and there are no offers for deferred positions.


EU: French farmers already sold 30 - 40 % of their expected malting barley production of 2007

According to market analysts stating on February 2, 2007, it is estimated that French farmers already sold 30 - 40 % of their expected malting barley production of 2007, and an equally large amount is bound by frame contracts with a later price fixation.

In the UK forward sales seem to be no more than 50 – 75,000 tons, in Denmark 100 – 150,000 tons.

German farmers, who are offered around EUR 160, - for pre-contracts, shy away from selling new crop barley, they find the offered prices not attractive enough.


Malting barley prices. French barley prices.
Nominal prices.

EURO = USD 1.294 February 07, 2007 
 Crop year   2006   2007 
 Parity   FOB Creil   FOB Creil 
 Position   July 2006   July 2007 
Type   Variety  EURO  USD  EURO  USD 
2RS  Scarlett  214.00  277.00  161.00  208.50 
2RS  Prestige  213.00  276.00  160.00  207.50 
2RS  Cellar  212.00  274.50  159.00  206.00 
2RS  Sebastien  211.00  273.50  158.00  204.50 
2RS  Astoria  211.00  273.50  158.00  204.50 
2RS  Cork   211.00  273.50  157.00  203.50 
6RW  Esterel   186.00  241.00  143.00  185.50 

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

Theoretical malt prices.
  EURO = USD 1.294 February 07, 2007 
Crop year  2006 
Parity  FOB Antwerp 
Position  Feb 2007-Sept 2007 
Conditioning  Bulk   In bags  Bulk containers Bags, containers
Malting barley variety  EURO  USD  EURO  USD  EURO  USD  EURO  USD 
2RS  Scarlett  413.00  534.50  436.00  564.00  429.50  556.00  440.50  569.50 
2RS  Prestige  412.00  533.00  434.50  562.50  428.50  554.50  439.00  568.00 
2RS  Cellar  410.50  531.50  433.50  561.00  427.50  553.00  438.00  566.50 
2RS  Sebastien  409.50  530.00  432.50  559.50  426.00  551.50  436.50  565.00 
2RS  Astoria  409.50  530.00  432.50  559.50  426.00  551.50  436.50  565.00 
2RS  Cork   409.50  530.00  432.50  559.50  426.00  551.50  436.50  565.00 
2RS   Average price  410.50  531.50  433.50  561.00  427.50  553.00  438.00  566.50 
6RW  Esterel   377.50  490.00  401.50  519.50  395.50  511.50  406.00  525.00 
Asia Malt 70/30  401.00  519.00  424.00  548.50  417.50  540.50  428.50  554.00 
**  Asia Malt 50/50  394.50  510.50  417.50  540.00  411.50  532.00  422.00  546.00 

* - 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

EU Malt Export Licence Fixations

(in tonnes) 2001-2002 2002-2003 2003-2004 2004-2005 2005-2006 July 01, 2006 -
January 30, 2007  
 France   701,134  661,772  774,761  674,140  648,338  299,798 
 Germany   468,314  408,063  422,047  295,876  236,735  135,870 
 Belgium   296,368  287,850  317,292  418,344  551,396  331,513 
 U.K. 350,621  294,995  443,501  201,892  190,862  72,853 
 Finland   91,890  100,758  114,165  64,986  79,357  36,321 
 Denmark    96,812  94,791  90,452  74,743  68,809  36,321 
 Sweden   101,000  76,916  78,369  88,840  96,100  38,650 
 Netherlands   51,310  66,219  80,703  49,128  92,383  49,850 
 Ireland   35,145  31,140  38,900  56,924  7,001  2,250 
 Austria   8,840  8,620  60,211  16,954  38,932  16,818 
 Spain   2,400  5,640  10,000 
 Greece   1,744  1,306  979  130 
 Portugal   221  85  695  850  1,088  485 
 Italy  
 Czech Republic       34,340  82,062  77,036  23,644 
 Poland       7,604  32,084  167 
 Hungary       2,830  85,792  16,865  1,526 
 Slovakia       1,000  76,916  75,863  18,023 
 Lithuania      54 
 Total EU   2,205,799  2,038,157  2,477,849  2,219,661  2,180,986  1,057,018 

  Total Wheat malt, tonnes  
Total 2001 - 2002    12,805 
Total 2002 - 2003    30,908 
Total 2003 - 2004    15,768 
Total 2004 - 2005    8,162 
Total 2005 - 2006   4,693 
July 01, 2006 - January 30, 2007   2,255 
   
  Total Roasted malt, tonnes  
Total 2001 - 2002    23,480 
Total 2002 - 2003    23,603 
Total 2003 - 2004    24,438 
Total 2004 - 2005    27,212 
Total 2005 - 2006   23,257 
July 01, 2005 - January 30, 2007   16,239 
Newsletter SummaryTop
Graph of the week


These Days in Business History
February 5
1817 1st US gas co incorporated, Baltimore (coal gas for street lights)
1850 Adding machine employing depressible keys patented, New Paltz, NY
1878 Andre-Gustave Citroen is born, France, auto maker

February 6
1953 US controls on wages & some consumer goods were lifted
1964 France & Great-Britain sign accord over building channel tunnel
1974 Dutch speed limit set at 100 km due to oil crisis

February 7
1639 Academie Francaise begins Dictionary of French Language
1804 John Deere is born, pioneer manufacturer of agricultural implements
1935 Monopoly, board game invented by Charles Darrow symbol Rich Uncle Pennybags
Agenda
February 2007:
Singapore international beer festival.
WBA International Diploma in Brewing Technology Program Chicago
Grainworld 2007, Canada.


March 2007:
Beer Day, Iceland.
WorldFoodUzbekistan - 2007.
World Barley Malt & Beer Conference.
The 2nd International Trading Summit: Grains & Oilseeds, Turkey.


April 2007:
InterFood St. Petersburg
15th Annual International Beer Festival, USA.
The International Hop Growers’ Convention (IHGC) Meetings, France.
24th ANNUAL INTERNATIONAL BEER FESTIVAL SAN FRANCISCO




More events are available on site e-malt.com
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