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Newsletter Summary
Currency rates
Equities of largest breweries
Market prices change trend
Brewery news
Barley news
More news
Theoretical malt prices
Malting barley prices
Malt market price evolution
Table of the week
Graph of the week
On These Days
Agenda
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Average market prices
Change trend
01 Mar - 04 Mar, 2007
Crop 2006
2rs Barley €213.0-215.0
6rw Barley €187.0-189.0
2rs Malt €416.5-418.5 0.60%
6rw Malt €383.5-385.5 0.52%
Crop 2007
2rs Barley €168.0-170.0 1.20%
6rw Barley €151.0-153.0 0.66%
2rs Malt €346.5-348.5 1.31%
6rw Malt €324.5-326.5 0.93%

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 09a, 2006
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Newsletter 08b, 2006
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Newsletter 08a, 2007
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Newsletter 07b, 2007
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Newsletter 07a, 2007

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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EU Malt Demand estimated 2006-2007
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Japan Beer Sales (1997-2006)
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Canada Barley Production
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Germany Beer Sales (1995-2006)
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World Barley Exports

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 09b
March 01 - March 04, 2007
Quote of the week

"There is more to life than beer alone, but beer makes those other things even better."
Stephen Morris


Currency Rates
Base Currency: Euro, EUR
on 02-March-2007

1 EUR = 1.3216 USD
1 EUR = 0.6737 GBP
1 EUR = 1.5469 CAD
1 EUR = 1.6805 AUD
1 EUR = 156.102 JPY
1 EUR = 2.8107 BRL
1 EUR = 34.5564 RUB
1 EUR = 10.2466 CNY
 Base Currency: US Dollar
on 02-March-2007

1 USD = 0.7567 EUR
1 USD = 0.5098 GBP
1 USD = 1.1704 CAD
1 USD = 1.2714 AUD
1 USD = 118.121 JPY
1 USD = 2.1267 BRL
1 USD = 26.147 RUB
1 USD = 7.7531 CNY

EUR/USD Chart

Equities of the Largest Breweries

Top Industry News
Belgium: InBev announces 2006 4th quarter and full year results... Click here

Vietnam: Carlsberg selected strategic partner of Vietnamese brewery Habeco... Click here

Thailand: Thai Beverage’s beer sales up to Bt100 billion... Click here

Czech Republic: Czech breweries reported record sales in January 2007... Click here

Latin America: Quilmes Industrial announces 2006 2nd half and full year results... Click here

Canada: Russell Breweries announces 2nd quarter 2007 results... Click here

UK: All barley intervention stocks had been sold... Click here

World: A very small barley export surplus is forecast, particularly for malting barley... Click here

More News
Uganda: SABMiller built a partnership with African farmers ... More Info

UK: Carlsberg plans to revive its Tuborg lager brand ... More Info

Romania: Interbrew reports 3.4 million hectolitres record beer sales ... More Info

Sri Lanka: Ceylon Brewery’s profits plunged 74% in 4th quarter 2006 ... More Info

UK: SABMiller’s share price recoups losses ... More Info

UK & Spain: Anheuser-Busch and Grupo Damm Partner to import Estrella Damm Barcelona to U.K. ... More Info

Brazil: AmBev reports 2006 4th quarter results ... More Info

USA: MacTarnahan’s reintroduce award-winning Amber Ale to celebrate 21th anniversary ... More Info

Mexico: Mexico's Femsa is flooding the market ... More Info

China: Brewery sponsors China Football Super League ... More Info

Japan: Sapporo proves their beer could mitigate hay fever symptoms ... More Info

USA: Pyramid Brewery celebrates 10 years in Berkley ... More Info



Brewery News
Belgium: InBev announces 2006 4th quarter and full year results

InBev, the world’s leading brewer, announced its results for the full year 2006 (FY06) and the fourth quarter of 2006 (4Q06) in company’s press release from March 1.

Organic volume growth: organic beer sales volume grew +5.5% for FY06, ahead of global industry growth; and +6.1% in 4Q06, year-on-year

Revenue initiatives paying off: revenue increased organically by 7.9% during FY06 and 8.2% for 4Q06, in line with our objective to increase revenue ahead of volume

Strict cost control to support top line growth: full year cost of sales (CoS) remained under strong control, while the company further optimized operating expenses. Our plant optimization and Zero Based Budgeting (ZBB) programs, which are supported by more coordinated procurement efforts, kept the overall cost base growing below average inflation, in line with InBev’s long-term goals. For the full year, organic CoS per Hl declined 2.5%. Organic operating expenses grew by 6.1%, as distribution expenses rose on the back of volume growth and direct distribution expansion

Significant EBITDA growth and margin improvement: normalized organic EBITDA grew by 16.8%, leading to an EBITDA margin of 31.9% in FY06 versus 28.6% in FY05, an increase of 321 basis points, of which 239 basis points was organic. Full year margins ... More Info

Vietnam: Carlsberg selected strategic partner of Vietnamese brewery Habeco

The Vietnamese Ministry of Industry has approved state-owned brewery Habeco's choice of Carlsberg as strategic partner, according to Carlsberg’s press release, March 2.

Habeco is market leader in the Northern Vietnam where Carlsberg is present through its brewery-joint venture in Hanoi. The partnership will provide opportunities for both Habeco and Carlsberg to further strengthen their market positions in Northern Vietnam but also in Central Vietnam where Carlsberg is market leader through its brewery-joint venture in Hué.

24% of Habeco will shortly be privatized. Carlsberg has been reserved 10% and the remaining 14% will be sold to employees and the public.

The Habeco/Carlsberg-partnership is expected to materialize in a number of areas among which joint investment in brewery projects is the most significant.
"The engagement with Habeco is an important part of our strategy to develop our business in Asia through partnerships and investment in market leading companies", says Senior Vice President Jesper B. Madsen, responsible for Carlsberg's business in Asia.

Carlsberg in Vietnam:

Carlsberg entered Vietnam in 1993 through the formation of at joint venture with Viet Ha Brewery owned by the
Hanoi Peoples Committee. Carlsberg owns 60% of South East Asia Brewery, which is the name of the operation. ... More Info

Thailand: Thai Beverage’s beer sales up to Bt100 billion

Thai Beverage, the country's leading alcoholic-drink company, saw sales rise to almost Bt100 billion last year, due mainly to increased sales of beer in the low-alcohol segment, The Nation (Thailand) published March 1.

Nevertheless sales revenues were reported to be Bt97.798 billion, up from Bt94.903 billion in 2005, the consolidated net profit declined 2.7 per cent to Bt10.055 billion, from Bt10.337 billion in 2005, because of the drop of other beverages.

In the statement, ThaiBev said last year's increase in sales was attributed to Archa Beer and the newly launched Chang Light and Chang Draught.

"We are satisfied that the business is continuing to perform consistently, despite the impact of unusually widespread flooding, high molasses prices, changes to the government and uncertainty about domestic economic, political and commercial issues," Thapana Sirivadhanabhakdi, ThaiBev executive vice president, said yesterday.

ThaiBev in the first quarter reintroduced a brand called Hong Thong, which proved a success with consumers, with sales rising to 4.8 million litres in nine months. Blend 285, another new favourite launched in October, was already selling 1.7 million litres by the end of the year.

Thapana said that sales of beer, with volume rising 12 per cent in one year, was an exciting sign that the ... More Info

Czech Republic: Czech breweries reported record sales in January 2007

Czech beer sales increased by 11.2% in Jan 2007 compared to Jan 2006, Access Czech Republic Business Bulletin reported February 28.

Reasons are the warm weather, high exports and strong demand for non-alcoholic beer. Plzensky Prazdroj increased its sales by 4.7%, Bernard by 6%, Mestansky Pivovar Havlickuv Brod by 10% and Krusovice by 10.6% in Jan 2007 compared to Jan 2006. Mainly small breweries succeeded. Some of them increased sales by nearly 100% in Jan 2007 compared to Jan 2006.

Latin America: Quilmes Industrial announces 2006 2nd half and full year results

Quilmes Industrial (Quinsa) S.A. LQU announced its results for the six months and full year ended December 31, 2006, according to PRNewswire, March 1.

Highlights - second half 2006

- Normalized EBITDA increased 25.3% to US$ 266.6 million, from US$ 212.7 million in 2005.
- Beer sales volumes increased 11.8% to 9.7 million hectoliters.
- Soft drink sales volumes increased 20.5% to 5.7 million hectoliters.
- Net profit after tax increased 10.7% to US$ 88.2 million, or US$ 0.814 per share for the second half of 2006.
- The Company completed the divestiture in Argentina of three brands, one brewery and a malting facility (*), in accordance with anti-trust requirements. The three brands accounted for approximately 7% of the Company's beer volumes for 2006 in Argentina, and contributed an estimated US$14 million in EBITDA.

(*) The malting facility was divested in January 2007.

Financial review - Second half 2006

Beer volume sales increased to 9,706,000 hectoliters from 8,682,000 hectoliters a year earlier, due to improvements in all of the Company's markets and particularly in Argentina, Bolivia and Paraguay. Volumes for soft drinks increased 20% to 5,738,000 hectoliters, reflecting a very strong performance in Argentina. Domestic volume breakdown (thousands of hectoliters)

Net sales increased to US$ 645.8 million, from ... More Info

Canada: Russell Breweries announces 2nd quarter 2007 results

Russell Breweries Inc. a producer of premium beer for fine pubs and eateries, reports its unaudited consolidated results for the three months and six months ended December 31, 2006, according to company’s press release, February 28.

Revenues for the three months ended December 31, 2006 were $341,942 up 4.2% from revenues of $328,121 (restated) for the three months ended December 31, 2005. Revenues for the six months ended December 31, 2006 were $708,006 up 9.8% compared to $645,030 (restated) for the six months ended December 31, 2005. Due to an error of recording sales, revenues for the first quarter ended September 30, 2006 were previously overstated by $25,557 and net loss understated by $25,557 and revenues for the three and six months ended December 31, 2005 overstated by $18,443 and net loss understated by $18,443. A balance of overstatement of revenues and understatement of loss $40,794 relates to the third and fourth quarter of the year ended June 30, 2006.

Gross profit for the three months ended December 31, 2006 was $237,454 up 15% compared to $206,269 in the comparative period and gross profit for the six months ended December 31, 2006 was $476,070 up 20% compared to $396,817 for the comparative ... More Info

Barley News
UK: All barley intervention stocks had been sold

UK barley production forecast for 2006-2007 is increased by 62,000t to 5.239Mt, according to Supply & Demand report published by Defra and Home-Grown Cereals Authority (HGCA) on March 1. No changes have been made to opening stocks or imports compared to January’s estimate. Total availability stands at 6.211Mt, down 4% on last season.

“H&I (human & industrial) use in the barley sector has been left unchanged at 1.682Mt, down 2% on last season. The forecast for H&I usage of maize has been lowered from the December forecast by 30,000t to 0.767Mt (up 2% on last season). H&I use in the oats sector has been increased by 30,000t from December at 0.411Mt (17% higher than last season).

Animal feed usage of barley has been increased by 7,000t from the December estimate to 3.086Mt, very similar to last season. Maize usage in the feed sector is unchanged at 0.434Mt (up 8% on last season) while oats usage is seen 1,000t higher at 0.234Mt (up 15% on last season).

There are no revisions to seed usage for wheat, although barley usage is revised 8,000t lower, to 0.135Mt, down 6% on last season, reflecting lower seed sowing rates.

Barley usage by retail compounders was 0.374Mt to ... More Info

World: A very small barley export surplus is forecast, particularly for malting barley

Russia exported 648,000 tonnes in July-December, Canada 649,000 and the U.S. 457,000 tonnes till mid January, Australia 993,000 tonnes of malting and 339,000 tonnes of feed barley in July/December.

Australian feed barley exports during the last three months of 2006 were only 44.000 tons, a result of the bad drought that hit the country.

Stocks of feed and malting barley in the Eastern part of Australia were used to alleviate the desperate feed situation so that carryover stocks were negligible. Maltsters, on the other hand, maintained good reserves for their operations. A crop of max. 3.7 million tonnes and a domestic consumption of 3.0 million tonnes leaves a very small export surplus, particularly for malting barley.


Malting barley prices. French barley prices.
Nominal prices.

EURO = USD 1.3216 March 02, 2007 
 Crop year   2006   2007 
 Parity   FOB Creil   FOB Creil 
 Position   July 2006   July 2007 
Type   Variety  EURO  USD  EURO  USD 
2RS  Scarlett  216.00  285.50  171.00  226.00 
2RS  Prestige  215.00  284.50  170.00  225.00 
2RS  Cellar  214.00  283.00  169.00  223.50 
2RS  Sebastien  213.00  281.50  168.00  222.50 
2RS  Astoria  213.00  281.50  168.00  222.50 
2RS  Cork   213.00  281.50  167.00  221.00 
6RW  Esterel   188.00  248.50  152.00  201.00 

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

Theoretical malt prices.
  EURO = USD 1.3216 March 02, 2007 
Crop year  2006 
Parity  FOB Antwerp 
Position  Mar 2007-Sept 2007 
Conditioning  Bulk   In bags  Bulk containers Bags, containers
Malting barley variety  EURO  USD  EURO  USD  EURO  USD  EURO  USD 
2RS  Scarlett  420.50  555.50  443.00  585.50  436.50  577.00  447.50  591.00 
2RS  Prestige  419.00  553.50  441.50  583.50  435.50  575.50  446.00  589.50 
2RS  Cellar  417.50  552.00  440.50  582.00  434.50  574.00  445.00  588.00 
2RS  Sebastien  416.50  550.50  439.50  580.50  433.00  572.50  443.50  586.50 
2RS  Astoria  416.50  550.50  439.50  580.50  433.00  572.50  443.50  586.50 
2RS  Cork   416.50  550.50  439.50  580.50  433.00  572.50  443.50  586.50 
2RS   Average price  417.50  552.00  440.50  582.00  434.50  574.00  445.00  588.00 
6RW  Esterel   384.50  509.50  408.50  540.00  402.50  531.50  413.00  545.50 
*  Asia Malt 70/30  408.00  539.50  431.00  569.50  424.50  561.50  435.50  575.50 
**  Asia Malt 50/50  401.50  531.00  424.50  561.00  418.50  552.50  429.00  566.50 

* - 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

Malt Market Price Evolution
Prices evolution

Table of the week

Number of German Breweries classified by production capacity

Production capacity, hl of beer  1997  1998  1999  2000  2001  2002  2003  2004  2005  2006 
 up to 5,000 hl  686  718  725  746  782  790  773  801  807  816 
 up to 10,000 hl  116  105  107  98  88  94  83  87  90  89 
 up to 50,000 hl  241  237  233  222  231  211  219  194  189  195 
 up to 100,000 hl  85  85  77  86  77  71  72  73  74  70 
 up to 200,000 hl  51  54  52  41  41  45  45  43  35  34 
 up to 500,000 hl  43  35  36  36  28  25  31  32  35  33 
 up to 1 Million hl  18  21  21  21  23  21  25  21  23  18 
 over 1 Million hl  33  30  30  30  29  31  27  30  26  29 
 Total German Breweries  1,273  1,285  1,281  1,280  1,299  1,289  1,275  1,281  1,280  1,284 
Source: Deutscher Brauer-Bund


Newsletter SummaryTop
Graph of the week

Source: USA Beer Institute

These Days in Business History
March 1
1867 Howard University chartered, Washington D.C.
1927 Bank of Italy becomes a National Bank
1947 International Monetary Fund begins operation

March 2
1809 The earliest known bank failure in the U.S. is reported when the Farmers Exchange Bank of Glocester, R.I., goes bust after issuing $800,000 in fraudulent loans against total capital of $45.
2000 Wall Street creates what may be the most worthless company of all time. 3Com Corp. spins off 23 million shares of Palm, Inc. on NASDAQ at an initial price of $38.
2000 Shares in MicroStrategy Inc., a hot software consulting firm, fall from $246.75 to $86.75 in a single day as chairman Michael Saylor announces that the company will have to slash its reported revenues and earnings for the past two years.

March 3
1885 American Telephone and Telegraph (AT&T) incorporates
1979 Meeting in Geneva, OPEC declares that its members will raise the price of crude oil 9% in a single leap, from $13.34 to $14.55, igniting another round of global inflation.
2000 On the same day, technology stocks set a record for industry representation in the Standard & Poor’s 500-stock index, at 34.9%, and Cisco Systems, Inc. becomes the world’s most valuable corporation, with a total market value of $548 billion.

March 4
1902 American Automobile Association, AAA, founded in Chicago
1977 1st CRAY 1 supercomputer shipped, to Los Alamos Laboratories, New Mexico
1991 Bank of Credit and Commerce International divests itself of 1st American Bank
Agenda
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

May 2007:
European Grain & Oilseed Convention 2007, Brussels
31-st International Congress of the European Brewery Convention , Italy
Hofex - 2007, China
InterFood Azerbaijan 13th Azerbaijan International Food Industry and Agriculture Exhibition
InterFood Astana , Kazakhstan, 9th Astana International Exhibition for Food, Beverages, Technologies



More events are available on site e-malt.com
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