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Newsletter Summary

Currency rates
Equities of largest breweries
Market prices change trend
Top industry news
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

July 23 - July 25, 2007
Crop 2006
2rs Barley €197.0-199.0
6rw Barley €170.0-172.0
2rs Malt €417.5-419.5
6rw Malt €383.0-385.0
Crop 2007
2rs Barley €244.0-246.0 1.66%
6rw Barley €216.0-218.0 1.88%
2rs Malt €456.0-458.0 1.11%
6rw Malt €420.5-422.5 1.20%

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 . 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

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Newsletter 29b, 2007

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Newsletter 29a, 2007

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Newsletter 28b, 2007

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Newsletter 28a, 2007

See this Newsletter!
Newsletter 27b, 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

All graphs issued with e-malt.com newsletters are published in "Graph" section of e-malt.com site.
Last five graphs

Open this Table!
World Barley Production (1985/86 - 2007/08f)

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USA Malt Exports by country of destination 2006 & 2005

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Netherlands Beer Production and Export (1990 - 2006)

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Australia Barley Production and Malting Barley Export

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World Beer Production



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 30a
July 23 - July 25, 2007

Quote of the week

"We would accomplish many more things if we did not think of them as impossible."

Vince Lombardi


Currency Rates
Base Currency: Euro, EUR
on 25-July-2007

1 EUR = 1.3823 USD
1 EUR = 0.6704 GBP
1 EUR = 1.4428 CAD
1 EUR = 1.5632 AUD
1 EUR = 166.908 JPY
1 EUR = 2.5539 BRL
1 EUR = 35.1014 RUB
1 EUR = 10.4678 CNY
Base Currency: US Dollar
on 25-July-2007

1 USD = 0.7235 EUR
1 USD = 0.4849 GBP
1 USD = 1.0438 CAD
1 USD = 1.1309 AUD
1 USD = 120.751 JPY
1 USD = 1.8476 BRL
1 USD = 25.3935 RUB
1 USD = 7.5727 CNY

EUR/USD Chart

Equities of the Largest Breweries

Top Industry News
USA & Belgium: Anheuser-Busch, InBev merger 70% likely in next 2 years... Click here

Mexico: Grupo Modelo sees export growth in rest of 2007... Click here

Belgium: InBev to enter India with Lowenbrau, followed by Stella Artois, Becks... Click here

USA: Budvar’s sales boost 58%... Click here

UK: Fuller, Smith & Turner P.L.C. issues first interim management statement... Click here

Europe: 2006 malt production dropped in Germany and France, UK’s unchanged... Click here

Ukraine & Russia: Barley crop affected by a long heat around the Black Sea... Click here

Canada: Federal Court hearings to begin on CWB barley issue... Click here

Europe: Despite barley’s poor condition malsters secured 100% of their needs in 2006/07... Click here

More News
USA: America's Beer drinkers embrace Miller Chill ... More Info

Philippines: San Miguel sets aside $750 mil for new businesses, food still core ... More Info

Canada: Big Rock Brewery Income Trust announces monthly distribution ... More Info

Netherlands: Heineken outperforms on target upgrades; Grolsch off on downgrade ... More Info

USA: SABMiller appoints WPP Group's Mediaedge:cia as its communications planning shop ... More Info

USA: City Brewery sells beer brands ... More Info

UK: InBev launches new font for Stella Artois beer ... More Info

Belgium: Brussels shares close higher; InBev leads the gainers ... More Info

Bulgaria: Bulgaria's dockyard Port-Burgas to invest 11.7 mil euros in commercial port ... More Info

China: Budweiser launched national bike riding tour in China to welcome upcoming Olympic Games ... More Info

Denmark: Danish shares close higher led up by Carlsberg ... More Info

Nigeria: Heineken sponsors Ikeja Golf Club tournament ... More Info

India: United Breweries likely to put 20% of its aviation business on sell ... More Info



Brewery News
USA & Belgium: Anheuser-Busch, InBev merger 70% likely in next 2 years

Speculation and expectations of a merger between Anheuser-Busch Cos. Inc. and Belgium's InBev surfaced again, this time in a Citigroup analyst report, St. Louis Business Journal reported July 23.

A group of seven analysts wrote: "The attractions of emerging market growth and a desire to reclaim leadership in the global beer industry, the potential for cost savings and other commercial synergies, leads us to expect an alliance between Anheuser-Busch and InBev, to which we attach a 70% probability of occurring within the next two years."

The analysts also raised A-B's stock rating from "sell" to "hold" and InBev's from a "hold" rating to a "buy" rating.

Belgium paper Trends magazine reported in June that a merger between A-B and InBev was "inevitable in the long run."

InBev, the leading global brewer by volume, is a publicly traded company based in Leuven, Belgium. It has a portfolio of more than 200 brands, including Skol, the third-largest selling beer brand in the world.

In May 2006, A-B bought the right to brew Rolling Rock and Rock Green Light from InBev USA in an $82 million deal.

St. Louis-based Anheuser-Busch Cos. Inc. (NYSE: BUD), the largest domestic brewer, manufactures and recycles aluminum cans ...
More Info


Mexico: Grupo Modelo sees export growth in rest of 2007

Mexican brewer Grupo Modelo, the maker of Corona beer, said it sees export volume growing in the high single digits during the second half of this year, Reuters reported July 20.

"It will be basically in the high single digits," Modelo Chairman and Chief Executive Carlos Fernandez said in a conference call with investors.

Export volume growth in the second quarter was 6.5 percent. Most exports go to the United States.

The company, half-owned by Budweiser brewer Anheuser-Busch Cos. Inc., posted a 12.6 percent rise in second-quarter net profit, helped by a jump in export revenue.

Export revenues for the second quarter surged 84 percent, the company said.

Shares of Modelo edged down 0.08 percent to 60.15 pesos in morning trading.

Modelo exports five of the 12 brands of beer that it produces, and has a presence in 150 countries.


Belgium: InBev to enter India with Lowenbrau, followed by Stella Artois, Becks

Belgian brewer InBev SA will debut in India with German beer Lowenbrau, followed by two more international brands Stella Artois and Beck's, which will hit the Indian market through local bottling in the initial phase, AFX News Limited reported July 24.

InBev India International Ltd, a joint venture with Ravi Jaipuria's RJ Corp, is scouting for potential alliances with independent brewers for rolling out beer, the paper said.

The paper quoted Jaipuria as saying, 'We are talking to all brewers who are not associated with United Breweries Ltd or SABMiller.'

The paper said the joint venture may make a bid to acquire a stake or strike a co-packing alliance with mid-sized independent brewers like Mount Shivalik Industries, which recently indicated an interest in divesting up to 50 pct.

The paper quoted Jaipuria as saying, 'We are working on greenfield projects, but we may have to go for an alliance if we have to hit the market this year.


USA: Budvar’s sales boost 58%

Czech brewer Budějovickż Budvar saw sales of its beer Czechvar soar 58 percent in the U.S. between January and June this year, Budvar’s PR agency said, according to Czech Business Weekly, July 23.

Czechvar is distributed in the U.S. by Budvar’s rival Anheuser-Busch. Budvar management would not disclose the amount of Czechvar sold on the U.S. market, but the company said it believes beer sales in the U.S. will set a record this year. According to available information, up to 8,000 hectoliters per year were sold in the U.S., and the figure might growup to 12,000 hectoliters this year. January to June beer supplies to the domestic market amounted to 319,737 hectoliters, up 11 percent year-on-year.


UK: Fuller, Smith & Turner P.L.C. issues first interim management statement

Fuller, Smith & Turner P.L.C., London’s last remaining traditional brewer, and pub retailer, issued the following Interim Management Statement in advance of the Company’s Annual General Meeting, held 24 July 2007 at the Hock Cellar, Griffin Brewery, Chiswick, London W4 2QB, according to company’s press release, July 24.

Fuller’s Inns, the managed and tenanted pubs and hotel division, saw invested like for like sales in its managed pubs increase by 5.4%* in the first 16 weeks to 21 July 2007 (uninvested by 4.3%). Tenanted pubs and hotels continue to make progress in line with expectations. The Fuller’s Beer Company’s volumes continue to show growth in a competitive market place.

The Group’s cash flows and debt levels are in line with expectations. As mentioned in the preliminary announcement of the Group’s results on 8 June 2007, since the year end, the Group has paid £8m into its pension fund, reducing the year end pension deficit from £16m to £8m.

Anthony Fuller, Chairman commented as follows:

“The first quarter has seen a good start to the year, in line with our expectations. The smoking ban came into effect on 1 July 2007, but it is ...
More Info

Malt News
Europe: 2006 malt production dropped in Germany and France, UK’s unchanged

French barley malt production July/April was 1.0 mil tons, equal to 1.2 mil tons for the whole crop year. Production last year was 1.35 mil tons, analysts reported July 2. Two large malting plants had been closed in France in 2006.

German barley malt production in July/March was 1.252 mil tons. Taking into account the slightly better figures since a few months (Weissheimer/Avangard), the final production figure for the crop year may arrive at 1,690 mil tons. German malt production has continuously dropped during the past years, from 2.03 mil in 2003/04 to 1,690 mil tons now. Confirmed closures in the past years had been 150.000 tons, and the production loss in the idle Weissheimer plants may have amounted to 100.000 tons in 2006/07.

The U.K. malt production was unchanged from last year, at 1,370 mil tons. Average production in the years 2001/06, though, had been 1,490 mil tons. British maltsters had closed 180.000 tons of capacity and opened only 20.000 tons during the past years.

Official statistics of malt production: (France and U.K. publish figures of barley usage, which are divided by 1.25 in this report). When comparing figures, it must be noted that France will produce 45.000 tons ...
More Info

Barley News
Ukraine & Russia: Barley crop affected by a long heat around the Black Sea

Crop prospects in the Ukraine and Southern Russia are affected by the long heat wave around the Black Sea, analysts reported July 2.

Barley crop estimates are down to 17 mil tons for Russia and 7 – 8 mil tons for the Ukraine. The Ukrainian government, facing national elections in September, introduced export quotas for all grains, 3000 tons of barley from July till end September, which is equal to an embargo. It is uncertain, when the Ukraine will re-enter export markets. Ukrainian barley exports of the grain year 2006/07 were 4,846 mil tons, Russian exports during July/May 1,396 mil tons. Ukrainian exports in 2007/08, if ever permitted, would hardly be more than 2 mil tons. The quality of malting barley is doubtful after heat, dryness and present rainfalls, which hinder the early harvest.

Estimates are that Russia must import several hundred thousand tons of malting barley this year.


Canada: Federal Court hearings to begin on CWB barley issue

Hearings begin at Federal Court in Calgary on whether the government’s plan to remove farmers’ single-desk marketing system for barley on August 1 is legal, CWB announced in a press release, July 24. The hearings, which start 9:30 a.m. MDT on July 25, are expected to run over three days with a decision expected at a later date.

The CWB has applied to have the introduction of change by regulation declared unlawful or beyond the federal government’s jurisdiction. The CWB application argues that the ultimate decision to remove grain from the single desk is reserved to farmers. It also argues that only Parliament -- not the government by itself -- can make the changes required to implement farmers’ decision.

The intent and effect of 1998 changes to The CWB Act was to make the CWB a farmer-controlled enterprise accountable to western Canadian farmers, who now elect a majority of its governing board. The CWB’s application, its written arguments, the affidavit of its Chief Operating Officer and 53 exhibits, have been posted at www.cwb.ca.

Controlled by western Canadian farmers, the CWB is the largest wheat and barley marketer in the world. One of Canada’s biggest exporters, the Winnipeg-based organization sells grain to over 70 ...
More Info


Europe: Despite barley’s poor condition malsters secured 100% of their needs in 2006/07

On June 30 the crop year 2006/07 ended, many traders, maltsters and brewers will not forget it, analysts reported July 2. The harvested quantity of 55 mil tons was no record, but not disappointing either. It was the poor condition of the harvested barley after endless rains, which provided for a year-long nightmare of the industries.

It is still unclear, how maltsters secured 100 % of their needed supplies, they reduced production, and bought large amounts of second grade barleys. Nevertheless they maintained a good quality standard of their malt deliveries.

Food use in the EU-25 was 40 Mill. tons, exports to third countries 3,2 mil tons. The EU Commission succeeded to sell virtually all barley intervention stocks, which had been 2,2 mil tons at the beginning of the grain year.


Malting barley prices. French barley prices.
Nominal prices.

EURO = USD 1.3823 July 25, 2007 
 Crop year   2006   2007 
 Parity   FOB Creil   FOB Creil 
 Position   July 2006   July 2007 
Type   Variety  EURO  USD  EURO  USD 
2RS  Scarlett  200.00  276.50  247.00  341.50 
2RS  Prestige  199.00  275.50  246.00  340.50 
2RS  Cellar  198.00  274.00  245.00  339.00 
2RS  Sebastien  197.00  272.50  244.00  337.50 
2RS  Astoria  197.00  272.50  244.00  337.50 
2RS  Cork   197.00  272.50  244.00  337.50 
6RW  Esterel   171.00  236.50  217.00  300.00 

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

Theoretical malt prices.
  EURO = USD 1.3823 July 25, 2007 
Crop year  2006 
Parity  FOB Antwerp 
Position  July 2007-Sept 2007 
Conditioning  Bulk   In bags  Bulk containers Bags, containers
Malting barley variety  EURO  USD  EURO  USD  EURO  USD  EURO  USD 
2RS  Scarlett  421.00  581.50  443.50  613.00  437.50  604.50  448.00  619.00 
2RS  Prestige  419.50  580.00  442.50  611.50  436.00  603.00  446.50  617.50 
2RS  Cellar  418.50  578.50  441.00  609.50  435.00  601.00  445.50  615.50 
2RS  Sebastien  417.00  576.50  440.00  608.00  433.50  599.50  444.50  614.00 
2RS  Astoria  417.00  576.50  440.00  608.00  433.50  599.50  444.50  614.00 
2RS  Cork   417.00  576.50  440.00  608.00  433.50  599.50  444.50  614.00 
2RS   Average price  418.50  578.50  441.00  609.50  435.00  601.00  445.50  615.50 
6RW  Esterel   384.00  532.50  408.00  564.00  401.50  555.50  412.50  570.00 
Asia Malt 70/30  408.50  564.50  431.00  596.00  425.00  587.50  435.50  602.00 
**  Asia Malt 50/50  401.50  555.50  424.50  586.50  418.50  578.00  429.00  592.50 


  EURO = USD 1.3823 July 25, 2007 
Crop year  2007 
Parity  FOB Antwerp 
Position  Oct 2007-Sept 2008 
Conditioning  Bulk   In bags  Bulk containers Bags, containers
Malting barley variety  EURO  USD  EURO  USD  EURO  USD  EURO  USD 
2RS  Scarlett  459.50  635.00  482.50  666.50  476.00  658.00  486.50  672.50 
2RS  Prestige  458.50  633.50  481.00  665.00  475.00  656.50  485.50  671.00 
2RS  Cellar  457.00  631.50  480.00  663.00  473.50  654.50  484.00  669.00 
2RS  Sebastien  456.00  630.00  478.50  661.50  472.50  653.00  483.00  667.50 
2RS  Astoria  456.00  630.00  478.50  661.50  472.50  653.00  483.00  667.50 
2RS  Cork   456.00  630.00  478.50  661.50  472.50  653.00  483.00  667.50 
2RS   Average price  457.00  631.50  480.00  663.00  473.50  654.50  484.00  669.00 
6RW  Esterel   421.50  584.00  445.50  615.50  439.00  607.00  449.50  621.50 
Asia Malt 70/30  446.50  617.50  469.50  649.00  463.50  640.50  474.00  655.00 
**  Asia Malt 50/50  440.00  608.00  462.50  639.50  456.50  630.50  467.00  645.50 

NB: Prices published are theoretical malt prices including financial cost, THC (for bulk and bags container) and all administrative costs. This prices may fluctuate according to the quantity per delivery and technical specifications.

* - 70/30 = 70% Average two Rows Spring and 30% Six Rows Winter
** - 50/50 = 50% Average two Rows Spring and 50% Six Rows Winter

Table of the week

Production in the most Important Malting Barley Countries of the EU

  Production 2006
in 1000 tonnes
Acreage 2007
in 1000 ha
Production 2007
in 1000 tonnes
Winter  Spring  Total  Winter  Spring  Total  Winter  Spring  Total 
 Czech Rep.  549  1,646  2,195  125  360  485  450  1,500  1,950 
 Denmark  891  2,362  3,253  159  440  599  922  2,288  3,210 
 France  7,683  2,793  10,476  1,187  501  1,688  7,863  2,700  10,563 
 Germany  9,441  2,614  12,055  1,476  500  1,976  8,690  2,250  10,940 
 Spain  1,957  6,362  8,319  693  2,507  3,200  2,400  8,800  11,200 
 Sweden  28  1,084  1,112  320  328  40  1,350  1,390 
 UK 2,575  2,602  5,177  389  520  909  2,510  2,702  5,212 
Newsletter SummaryTop

Graph of the week



These Days in Business History
23 July
776BC Officially recorded date of the first Olympic Games at Olympia, Greece
1829 William Burt patented a forerunner of the typewriter
1886 Gottlieb Daimler (1834-1900) invented the car

24 July
1847 Richard M. Hoe patented the rotary type printing press, NYC.
1938 Instant coffee invented.
1987 IBM-PC DOS Version 3.3 (updated) released

25 July
1978 The world's first test-tube baby, Louise Joy Brown, was born in Lancashire, England.
1946 1st bikini is shown at a Paris fashion show.
1984 Cosmonaut Svetlana Savitskaya became 1st woman to walk in space
Agenda
July 2007:
Olesummer Festival 2007
Portland International Beer Festival
51 Congress of The International Hop Growers Convention


August 2007:
Qingdao International Beer Festival, China
International Berlin Beer Festival
Great British Beer Festival
1st International Brewers Symposium Hop Flavor and Aroma
Great Japan Beer Festival 2007 in Osaka
Brew Drinks China 2007
The 13th Australian Barley Technical Symposium, Australia


September 2007:
Belgian Beer Weekend
Great Canadian Beer Festival
Great British Beer Festival
WBA Associate in Brewing Technology Program in Chicago
WBA International Diploma in Brewing Technology Program Chicago & Munich Campuses
WorldFood Moscow


October 2007:
The International Brewing Convention 2007 , UK
Newport International Oktoberfest, USA
World Beer Festival Durham , USA
Tasting Australia
2007 Master Brewers Association of the Americas Convention


November 2007:
The International Hop Growers' Convention (IHGC) Meetings, Germany
International convention for the drink technology and PET industry, India

More events are available on site e-malt.com

Copyright © E-Malt s.a. 2007