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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
Table of the week
Graph of the week
On These Days
Agenda
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Average market prices
Change trend

26 Mar - 28 Mar, 2007
Crop 2006
2rs Barley €213.0-215.0
6rw Barley €187.0-189.0
2rs Malt €427.5-429.5 0.47%
6rw Malt €394.5-396.5 0.51%
Crop 2007
2rs Barley €173.0-175.0 1.16%
6rw Barley €152.0-154.0
2rs Malt €360.5-362.5 0.98%
6rw Malt €334.0-336.0 0.30%

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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Other e-malt.com newsletters

Last five newsletters
See this Newsletter!
Newsletter 12b, 2007

See this Newsletter!
Newsletter 12a, 2006

See this Newsletter!
Newsletter 11b, 2007

See this Newsletter!
Newsletter 11a, 2007

See this Newsletter!
Newsletter 10, 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!


Available market price evolutions


E-malt.com graphs

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Last five graphs

Open this Table!
Malt Exports of Czech Republic (1993 - 2006)

Open this Table!
Brazil Beer Production (1995 - 2006e)

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Canada Malting Barley Exports by Country of Destination, 2005 - 2006

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USA Imports of Malt Beverages including Beer

Open this Table!
EU Malt Demand estimate 2006-2007



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 13a
March 26 - March 28, 2007

Quote of the week

"To be able to fill leisure intelligently is the last product of civilization."
Arnold Toynbee


Currency Rates
Base Currency: Euro, EUR
on 28-March-2007

1 EUR = 1.3339 USD
1 EUR = 0.6781 GBP
1 EUR = 1.546 CAD
1 EUR = 1.6492 AUD
1 EUR = 157.542 JPY
1 EUR = 2.7535 BRL
1 EUR = 34.6868 RUB
1 EUR = 10.3291 CNY
Base Currency: US Dollar
on 28-March-2007

1 USD = 0.7498 EUR
1 USD = 0.5084 GBP
1 USD = 1.159 CAD
1 USD = 1.2364 AUD
1 USD = 118.118 JPY
1 USD = 2.0644 BRL
1 USD = 26.005 RUB
1 USD = 7.7438 CNY

EUR/USD Chart

Equities of the Largest Breweries

Top Industry News
Vietnam: SABMiller & Vinamilk open a $45 mln brewery... Click here

China: China's beer output the largest in the world for four consecutive years... Click here

Brazil: AmBev talks to acquire Brazilian brewer Cintra... Click here

Bulgaria: A remarkable 2006 year for beer industry... Click here

Australia: Coopers Brewery starts major expansion program... Click here

Ukraine: Ukrainians prefer more expensive beers... Click here

Latvia: Aldaris sees the biggest turnover in its history... Click here

Vietnam: Sabeco to sell 20% of stake in August... Click here

Australia: ABB’s barley regulation system abandoned by parliament... Click here

Canada: Farmers lose barley value without single desk... Click here

More News
Vietnam: Vietnam Brewery Ltd acquires 2 Foster breweries ... More Info

South Africa: SABMiller launches a new premium beer ... More Info

USA: International Beverage Holdings appoints 2 zone vice presidents ... More Info

Finland: Saku Kuld and Baltika 1 join Sinebrychoff’s beer selection ... More Info

Hungary: Brau Union Hungaria board proposes HUF 6.65bn dividend ... More Info

Canada: Big Rock Brewery Income Trust announces record earnings and increase to monthly distribution ... More Info

South Africa: SABMiller sells draft Peroni after Amstel loss ... More Info

Czech Republic: Chodovar brewery’s beer baths turned out to be a success ... More Info

India: Beer sales expected to increase 17.2% y/y to 2011 ... More Info

South Africa: PenBev will not use CO2 made from beer ... More Info

World: Ukraine is the largest barley exporter this year ... More Info

Namibia: Namibia Breweries rating "hold" ... More Info

Belarus: Belarus opens its beer market for Russia ... More Info

UK: Shepherd Neame announces strong interim results for 2nd half of 2006 ... More Info

Japan: Sapporo Holdings try to block hostile takeover attempt ... More Info

UK: SABMiller appoints Miles Morland as director and chairman of Indochina Capital Vietnam Holdings Limited ... More Info



Brewery News
Vietnam: SABMiller & Vinamilk open a $45 mln brewery

South Africa’s SABMiller, the second largest brewery company in the world by volume, and Vietnam’s top dairy firm Vinamilk formally opened a brewery Monday in Binh Duong Province, Thanhnien News reported March 27.

SABMiller Vietnam Joint Venture’s US$45 million facility, which began operations a few months ago, is situated in My Phuoc II Industrial Zone and has a capacity of 100 million liters per year.

Its first beer was introduced earlier this year under the brand name Zorok. It is set to make others like Peroni, Pilsner UrQuell and Miller. All its products are distributed through Vinamilk’s network.

The listed Vinamilk is the leading producer of dairy products in Vietnam with an overwhelming 75 percent market share of milk and dairy products.

SABMiller was formed in 2002 by the merger of South African Breweries and Miller Brewing and is traded on the London Stock Exchange where it is a constituent of the FTSE 100 Index.

The total beer market in Vietnam is estimated to be in excess of 1.5 billion liters a year.


China: China's beer output the largest in the world for four consecutive years

China's beer output has been the highest in the world for four consecutive years and the nation has one of the fastest beer growing markets in the world, according to China Non-staple Food Circulation Association’s "2006-2007 Report on China's Sugar and Alcohol Market", People's Daily published March 27.

According to the report, China's produced 35.15 million kiloliters of beer in 2006, 14.7 percent more than in 2005; all large enterprises in the industry realized a sales income of more than 83.88 billion, up 16.37 percent from 2005, making a total profit of 3.676 billion yuan.

He Jihong, the president of the China Non-staple Food Circulation Association and the general economizer of the China sugar and alcohol group, said that as consumer demand rises, production grows to meet demand. The industry is expected to maintain its growth rate of 10 percent per annum over the next two years; according to the product structure, lighter beers will be the most popular in the market.

China's beer industry is in the latter stages of a reshuffle, said He, with the competition pattern stabilized and the sector streamlined. In 2006, China's 8 beer makers recorded a profit tax of over 500 million yuan and made ...
More Info


Brazil: AmBev talks to acquire Brazilian brewer Cintra

AmBev, the Brazilian unit of global brewing giant InBev, is in talks to buy a small local brewer, Cintra, a leading Brazilian newspaper reported, according to Reuters, March 28.

Citing unnamed sources close to the deal, financial daily Valor Economico said AmBev was in advanced negotiations to buy Cintra's two factories. The deal would not include the Cintra brand name so as to avoid antitrust concerns, Valor said.

AmBev, which commands almost 70 percent of Brazil's beer market, declined to comment.

Cintra, a closely held brewer based in Rio de Janeiro, has been up for sale for about two years. Another family-owned Brazilian brewer, Schincariol, and Portuguese brewing company Sagres have also been widely reported as potential buyers.

An acquisition of Cintra, which Valor said could be worth about $150 million, would help AmBev block Schincariol's attempts to make headway in the key market of Rio de Janeiro.

Though Cintra has just 1.12 percent of the national beer market, its market share in Rio is almost 6 percent, according to market research firm AC Nielsen.


Bulgaria: A remarkable 2006 year for beer industry

Bulgaria’s brewing industry, predominately controlled by international players, celebrated a remarkable year in 2006, Sofia Echo reported March 26.

The coming year will see the launch of a new brewery in the country and stabilising growth. Beer consumption in Bulgaria rose by 31 per cent year-on-year to 207 628 hectolitres in January, according to the Union of Brewers in Bulgaria (UBB). Consumption was in fact even higher, as not all brewers in Bulgaria are counted.

Currently, only about 1.5 per cent of the beer consumed in the country is imported. Overall annual sales in 2006 were boosted by good weather and breweries using a 2.5 litre polyethylene terephthalate (PET) bottle format.

PET bottles provide value as they enable brewers to sell beer at a higher volume and they have become a big phenomenon in Eastern Europe. There is also a cultural tradition of sharing beers, which obviously a large PET bottle helps. Last year, 37 per cent of all the beer sold in the country was in PET bottles. The brewing industry in Bulgaria is growing at an incredible speed, Kamenitza general manager Johan De Smet-Van Damme told OBG.The fact that you have three of the top brewing companies in ...
More Info


Australia: Coopers Brewery starts major expansion program

Coopers Brewery has commenced work on an $8 million program to boost capacity at its Regency Park brewery in Adelaide, according to company’s press release of March 26.

The centrepiece of the program is a major expansion of its warehouse, which will boost capacity by about a third. Other activity includes the installation of a new labeller to speed up the bottling line and the purchase of two new fermenters.

Planning of the warehouse expansion is in its final stages and construction is expected to commence by the end of April. It will involve extending the warehouse approximately 51 metres towards South Road and will add 7000 square metres of storage space.The work will involve re-siting of some existing employee parking and extensive additional landscaping.

Coopers Managing Director, Dr Tim Cooper, said the work was vital if Coopers was to continue meeting the rising demand for its beers around Australia and overseas. “Since Coopers moved to its Regency Park brewery in 2001, we have enjoyed double digit growth year on year,” he said. “We are now producing twice as much beer as we did the year before we left the old Leabrook brewery.

“In the calendar year 2006, Coopers sales rose 12.6% around Australia, ...
More Info


Ukraine: Ukrainians prefer more expensive beers

The most important 2006 year’s trends were seen in premium beer segment, with an increase in sales volume, Russian Beer Union announced March 26. “Premium beer market share rose 60% in 2006 and reached 8% of the market while medium sector growth didn’t overpass 5%”, Serghey Kalinin, General Manager of Sarmat Brewing Group said.

The total beer production rose 12.4% in 2006 which is less than in 2005, when the growth constituted 23%. Thus, in 2006 an average Ukrainian consumed 45-50 litres of beer. Market analysts noted an increase of interest in strong beer sector, with 15% increase in consumption.

Market participants expect a price growth for beer. More expensive water, barley and excise-duty increase are the main factors for that. “Already today the barley prices rose 20-30% and could overpass last year index by 80-90%”, Oksana Pirojok, company’s PR commented.


Latvia: Aldaris sees the biggest turnover in its history

Latvian beer market grew 8.7% in 2006, Russian Beer Union reported March 26. Sizing-up 2006 year’s results, AO Aldaris’ Management noted that company’s sales increase was bigger than the branch average and constituted 11%.

Aldaris’ total beverage sales reached 100.79 mil liters or 14.15 mil liters more than in 2005. The company kept its leader position on the market with 39.4% share. Beer consumption grew from 62 liters in 2005 to 66 liters of beer per capita in 2006. The export rose 31%.

AO Aldaris’ total net turnover constituted 28.4 mil LAT, 25.4% more than in 2005. Net profit constituted 4.7 mil LAT, thanks to growing sales volumes, product portfolio restructuring (premium beers and new products) and expenses’ optimization.

In 2007, the company plans to invest around 2.5 mil LAT and to introduce new product categories. Currently the company is modernizing its bottling-labelling lines as well as loading machines, after having invested 0.5 mil LAT. It would permit to increase line productivity by 25% - to 45 000 bottles per hour or 13 bottles per second.

From 1992, when Baltic Beverages Holding AB became AO Aldaris’ main shareholder, 42 mil Lat have been invested in new technologies and innovations.


Vietnam: Sabeco to sell 20% of stake in August

The Saigon Beer, Alcohol and Beverage Corp or Sabeco will sell a 20% stake in August this year, Vietnam Economic Times reported March 26.

The Industry Ministry established an equitization board for Sabeco and is expected to auction shares in August. The equitization plan was approved by Vietnam Prime Minister and Industry Ministry

Under the approval, the state will hold 80% and 20% will be floated on bourse, said Nguyen Quang Minh, director of Sabeco Corporation.

Foreign investors are keen to buy shares in Vietnam beer producers. The Hanoi Beer, Alcohol and Beverage or Habeco will also equitize in 2007

Minh said beer production grows by 10%, but remains at a modest level compared with regional and global markets

Foreign investors see great potential in Vietnam's beer market; however, it will be full of risk, even waste of state-owned capital if lacking state guidance

Barley News
Australia: ABB’s barley regulation system abandoned by parliament

The South Australian parliament has passed legislation abandoning the single desk system operated solely by ABB Grain Export Ltd which has long regulated the export of barley, The Age reported March 28.

"The new act allows growers to deliver bulk barley to the exporter of their choice," said state Agriculture Minister Rory McEwen.

Mr McEwen said an independent regulator, the Essential Services Commission of South Australia, would administer the scheme over the next three years.

"The future of the barley single desk has been a complex and long-standing issue and it's been pleasing to see the leadership shown by the industry in recommending these changes," the minister said.


Canada: Farmers lose barley value without single desk

After extensive analysis, the CWB board of directors has concluded that no other marketing option comes close to achieving the value the single desk brings to barley farmers, according to CWB’s newsroom, March 26.

“A plan to transition the CWB completely out of barley may be the only realistic option if the single desk is dismantled,” board chair Ken Ritter said. “Recognizing this, the board has agreed that we must work to secure the single desk for farmers.”

The analysis shows that without a radical transformation of the CWB into a grain company with a complete range of physical assets and a large capital infusion, the CWB could not market barley. Even if this transformation could be accomplished, the CWB’s ability to add extra value for farmers would be small compared to the value of the single desk, independently verified at $59-million a year for barley.

Last week, the CWB’s directors continued their extensive discussions and analysis of the conditions necessary for the government’s stated vision of “a strong and viable” CWB in an open barley market.

“The board tested all options against the following proposition: Does the CWB provide farmers with a materially higher net benefit relative to competing entities?” Ritter said. ...
More Info


Malting barley prices. French barley prices.
Nominal prices.

EURO = USD 1.3339 March 28, 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  288.50  176.00  235.00 
2RS  Prestige  215.00  287.00  175.00  233.50 
2RS  Cellar  214.00  285.50  174.00  232.50 
2RS  Sebastien  213.00  284.50  173.00  231.00 
2RS  Astoria  213.00  284.50  173.00  231.00 
2RS  Cork   213.00  284.50  172.00  229.50 
6RW  Esterel   188.00  251.00  153.00  204.50 

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

Theoretical malt prices.
  EURO = USD 1.3339 March 28, 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  431.50  575.00  454.00  605.50  447.50  597.50  458.50  611.50 
2RS  Prestige  430.00  573.50  452.50  604.00  446.50  595.50  457.00  609.50 
2RS  Cellar  428.50  572.00  451.50  602.50  445.50  594.00  456.00  608.00 
2RS  Sebastien  427.50  570.50  450.50  600.50  444.00  592.50  454.50  606.50 
2RS  Astoria  427.50  570.50  450.50  600.50  444.00  592.50  454.50  606.50 
2RS  Cork   427.50  570.50  450.50  600.50  444.00  592.50  454.50  606.50 
2RS   Average price  428.50  572.00  451.50  602.50  445.50  594.00  456.00  608.00 
6RW  Esterel   395.50  529.50  419.50  559.50  413.50  551.50  424.00  565.50 
Asia Malt 70/30  419.00  559.00  442.00  589.50  435.50  581.00  446.50  595.50 
**  Asia Malt 50/50  412.50  550.50  435.50  581.00  429.50  572.50  440.00  586.50 

* - 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

Australian Barley Supply and Disposal 2001-2007f
in thousand tonnes 2001-2002 2002-2003 2003-2004 2004-2005 2005-2006 s 2006-2007 f
Production 8 280 3 865 10 382 7 740 9 869 3 722
   Domestic use 2 535 2 016 2 476 2 685 2 805 3 160
   as malt and other human use 161 165 168 172 176 166
   feed 2 200 1 650 2 100 2 300 2 450 2 784
   seed 174 201 208 213 180 210
 Exports  5 274 2 608 6 996 4 862 5 917 2 665
   as malting barley 1 705 1 099 2 135 1 464 2 067 1 240
   malt (grain equivalent) 600 624 624 601 595 627
   feed barley 2 971 885 4 241 2 798 3 191 798
s - ABARE estimated, f-ABARE forecast. Source - ABARE February, 2007
Newsletter SummaryTop
Graph of the week


These Days in Business History
March 26
1780 The British Gazette and Sunday Monitor was published for the first time. It was the first Sunday newspaper in Britain.
1885 Eastman Kodak (Eastman Dry Plate and Film Co.) produced the first commercial motion picture film in Rochester, NY.
1996 The International Monetary Fund approved a $10.2 billion loan for Russia to help the country transform its economy.

March 27
1855 Abraham Gesner patents kerosene
1933 Polythene discovered by Reginald Gibson and Eric William Fawcett
1999 The macro virus "Melissa" was reported for the first.

March 28
1797 Nathaniel Briggs of NH patents a washing machine
1841 1st U.S. steam fire engine tested, New York City
1866 1st ambulance goes into service
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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