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Belgian brewer Interbrew, which will soon tie up with Brazil's Ambev announced on April 27 that it realized a total volume of 20.6 million hectoliters in the first quarter of 2004. This compares to a volume of 17.0 million hectoliters in the same period of last year. Organic volume growth amounted to 1.9 million hectoliters, or +11%. This growth is geographically broad-based, and is linked to share gains in key markets. In addition to this broad-based organic growth, Interbrew is especially pleased by the growth, worldwide, of its two global premium brands, Stella Artois®, which grew by more than +9%, and Beck's®, by more than +19%. In the U.S., which has been the focus of much effort by Interbrew recently, overall volume is up +18%, led by Stella Artois®, which continues its momentum, growing over +75%. With the introduction of the "Life Beckons" national advertising campaign in early January, the Beck's® family of brands also posted positive results in the U.S., growing well above the "Import" category. In Russia and Ukraine, Interbrew's volume growth was exceptional, with the highest growth rates being achieved by its domestic premium brand, Sibirskaya Korona®, its global premium brands, Beck's® and Stella Artois®, and its multi-country brand, Staropramen®...more info

Mexico, Monterrey: Fomento Economico Mexicano, S.A. de C.V. (FEMSA), the Leader in Latin Beverages, reported on April 27 strong operational and financial results for the first quarter of 2004. FEMSA Consolidated Operating Income up 43.7% reaching Ps. 2.561 billion. FEMSA Cerveza's beer sales volume grew profitably: domestic up 5.8% to 5.122 million hectoliters and exports up 32.8% to 480 thousand hectoliters, while operating income before management fee increased 24.5% reaching Ps. 675 million. Oxxo continued its expansion and opened 99 net new stores during the quarter, totaling 2,897 locations nationwide. Operating income increased by 50.3% to Ps. 169 million. Jose Antonio Fernandez, Chairman and CEO of FEMSA, commented, "We started the year 2004 on the right note. Our beer operations achieved significant volume growth and improved margins as we intensified our effort to grow profitably through focused market execution, efficient resource allocation, and better tailoring of our offers to the consumer. Our retail chain, Oxxo, continues its expansion, increasing its relevance for FEMSA as a valuable strategic vehicle for distributing our beverages...more info

Russia: Baltic Beverages Holding has recently made an announced about merging two of its ten Russian breweries in an attempt to cut costs, Russian newspaper Vedomosti posted on April 22. The group will merge St Petersburg’s Vena Brewery and Chelyabinsk-based brewer Zolotoi Ural. Analysts said that the move would allow the group to make savings of over US$1 million per year on transporting Vena’s Nevskoye and Tuborg brands to the Ural and Siberia regions. The merged unit will be headed by Pyotr Chernshyov, the general director of Vena brewery. Zolotoy Ural brewery (former Chelyabinsk brewery) was created in 1969. It came on BBH board in 1999. Now BBH controls 81% of Zolotoy Ural, which brew Zolotoy Ural and Yralsky Master brands. In 2003 the brewer output about 126 million litres of beer, 1.7% of all Russian beer production. Vena was created in 1872 and became part of BBH in 2002. 49.9% of brewer’s shares are owned by BBH and 49.9% by Carlsberg Breweries. Vena is brewing Nevskoe and Tuborg brands. In 2003 Vena produced about 140 million litres of beer, 1.8% of all Russian beer production...more info

China: Due to increases in the prices of barley, rice, water and electricity, the average cost of beer production has risen 7%, according to the China Winery Association. However, almost all major breweries on the mainland dare not raise prices for fear they will lose out in the fiercely competitive market. So far, only Hong Kong-listed Tsingtao Brewery and Harbin Brewery have announced slight price increases. According to the National Bureau of Statistics, grain prices rose 30 per cent in March year on year, pushing overall food prices up by 7.9 per cent.

USA, Boston: The Boston Beer Company, Inc. announced on April 26 first quarter 2004 volume, revenue and earnings compared to the first quarter 2003. For the 13-week period ended March 27, 2004, The Boston Beer Company recorded net sales of $44.7 million, a 1.5% decline from the 1st quarter in 2003. Net revenue per barrel increased by 1.1% during the quarter primarily due to price increases. As reflected on the following chart, reported shipment volume for the period was 263,000 barrels, a 2.6% decline from prior year. The Company recorded net income of $1.3 million or $.09 per diluted share for the quarter versus a net loss of $0.1 million and ($.01) per diluted share for the same period last year. Gross margins as a percent of net sales increased to 59.5% as compared to 58.6% in the prior year first quarter, principally due to net price increases implemented in the 1st quarter 2004 and certain operating efficiencies at its Cincinnati brewery, partially offset by changes in package mix. Advertising, promotional and selling expenses for the quarter were down by $1.8 million or 7.7% in comparison to the same period last year. The decrease was primarily driven by more effective purchasing of media. Additionally, point-of-sale expenditures declined by $0.8 million from the same period in 2003 that included an investment in new style tap handles. General and administrative expenses decreased by $0.6 million or 15.6% in comparison to the same period last year, due to reductions in employee-related costs and legal expenses...more info

	Maximum average price for 2RS Malt, crop 2003: 308.50 EUR/tonne - in November 2002
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