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Newsletter Summary
Currency rates
Equities of largest breweries
Market prices change trend
Top industry news
Brewery news
Barley news
Hops news
More news
Theoretical malt prices
Malting barley prices
Price evolution
Table of the week
Graph of the week
On These Days
Agenda
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Average market prices
Change trend
Crop 2007
2rs Barley €282.0-284.0 0.71%
6rw Barley €246.0-248.0 0.82%
2rs Malt €502.5-504.5 0.40%
6rw Malt €457.5-459.5 0.55%

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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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
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Mexico Beer Production
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EU Malt Export Licence Fixations (1995/1996 - 2006/2007)
Open
World Leading Beer Companies by Production Volume in 2006
Open
EU-27 Malt Capacity and Demand (2008)
Open
Belgium Beer Production, Export and Consumption (1980 - 2006)

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 35a
August 27 - August 29, 2007
Quote of the week

"Every child is an artist. The problem is how to remain an artist once he grows up."
Pablo Picasso


Currency Rates
Base Currency: Euro, EUR
on 29-August-2007

1 EUR = 1.364 USD
1 EUR = 0.6793 GBP
1 EUR = 1.4424 CAD
1 EUR = 1.6558 AUD
1 EUR = 157.355 JPY
1 EUR = 2.6925 BRL
1 EUR = 35.0454 RUB
1 EUR = 10.3193 CNY
 Base Currency: US Dollar
on 29-August-2007

1 USD = 0.7332 EUR
1 USD = 0.498 GBP
1 USD = 1.0575 CAD
1 USD = 1.2139 AUD
1 USD = 115.364 JPY
1 USD = 1.9739 BRL
1 USD = 25.6929 RUB
1 USD = 7.5655 CNY

EUR/USD Chart

Equities of the Largest Breweries

Top Industry News
Czech Republic: Finance Ministry unveils plans to privatise Budvar Brewery... Click here

China: Tsingtao H1 profit increase on rising beer demand... Click here

Mexico: Grupo Modelo antitrust fine is upheld by court... Click here

The Netherlands: Heineken Holding N.V. reports strong organic Net Profit growth of 35% for HI 2007... Click here

Finland: By the end of June, only one per cent more beer had been sold than last year... Click here

Russia: Baltika Breweries announces share buy back... Click here

Belarus: According to Lukashenko, the country’s brewing industries can be upgraded without foreign investments... Click here

Canada: Government will decide this week the future of Wheat Board challenge... Click here

EU: Hop growing conditions favourable in general – significant damage in many growing regions caused by severe storms... Click here

More News
Czech Republic: InBev declines comment on Budvar interest following Czech govt sale offer report ... More Info

Romania: Bulgaria's beer threatens Romanian brewers ... More Info

Turkey: Anadolu Efes released its reviewed consolidated financial results as of and for the period ended 30.06.2007 ... More Info

Poland: Sales of SABMiller’s Tyskie beer brand tripled ... More Info

Czech Republic: Brewery Rodinny pivovar Bernard and malt house Sladovny Bernard raises profit by 7 pct in H1 ... More Info

World: San Miguel eyes Eastern Europe, Laos and USA beer markets ... More Info

Sweden: Study advises against ending Swedish alcohol monopoly ... More Info

World: InBev, Heineken may report higher earnings on Russia, Brazil ... More Info

UK: Farmers should take a fresh look at planting barley this autumn on better barley prices now being offered ... More Info

Malaysia: Guinness Anchor posts 7.0% rise in yr pre-tax profit ... More Info

UK: Namibia Breweries maintained at "buy" by Irwin Jacobs Greene ... More Info

UK: InBev axes wheat beer ahead of UK launch ... More Info



Brewery News
Czech Republic: Finance Ministry unveils plans to privatise Budvar Brewery

Budejovicky Budvar is a candidate for privatisation, said Finance Minister Miroslav Kalousek, according to Pravo and Radio Praha article published on August 27th. Deputy Finance Minister Ivan Fuksa outlined the government's privatisation plans in an interview with Mlada Fronta Dnes on Monday.

Mr. Fuksa told Mlada Fronta that teams had been formed within the Ministry to work on the privatisation deals. He said that brands such as Budejovicky Budvar beer would only be sold to those willing to maintain the product's integrity. The sale of the Budvar brewery has, however, sparked criticism. In a television debate on Sunday, deputy prime-minister Jiri Cunek spoke out against the plans, saying that it made little sense to sell off a company that made the government billions of crowns every year.

The daily Pravo said that the Agriculture Ministry is now expected to pave the way for the sale by transforming the state-owned enterprise into a joint-stock company.

Deputy Prime Minister Jiri Cunek expressed opposition to a Budvar selloff Sunday.

According to recent reports, Budvar is one of several state-owned companies being prepared for full or partial privatisation by the government, in a series of transactions that analysts estimate could raise more than 100 bln ... More Info

China: Tsingtao H1 profit increase on rising beer demand

Tsingtao Brewery Co Ltd , China's largest beer maker by revenue, posted a 63.4 percent increase in first-half profit from a year earlier as rising Chinese incomes boosted demand for beer and a taste for more expensive brews, Reuters published on August 27th.

China's beer market, where a 640-ml bottle can cost just 12 U.S. cents, is the world's largest by volume and grew more than 16 percent in the first half, according to Merrill Lynch.

Last year, the market grew nearly 15 percent to 351.5 million hectolitres -- a third consecutive year of double-digit volume growth.

Hong Kong and Shanghai-listed Tsingtao Brewery, 27 percent-owned by top U.S. beer maker Anheuser-Busch Cos. Inc. , has come under pressure from foreign rivals SABMiller , Heineken and Carlsberg and rising raw material costs.

January-June net income increased to 347.57 million yuan from 212.74 million yuan a year earlier.

The sales volume of Tsingtao's top four brands reached 19.04 million hl for year-over-year growth of 24.6 percent, the firm said in a statement.

Tsingtao hopes to maintain 12 percent sales growth this year to 50.8 million hectolitres against an 11.5 percent gain in 2006.

The brewer, established a century ago in the port city of Qingdao, should post a 5.6 ... More Info

Mexico: Grupo Modelo antitrust fine is upheld by court

Grupo Modelo SAB, Mexico's largest brewer, was ordered by a Mexican federal court to pay a fine for hampering an antitrust probe that focused on the beer maker's exclusive contracts with retailers, Bloomberg posted on August 28.

Modelo lost its last appeal against a fine of 746,460 pesos ($67,300), said Eduardo Perez Motta, president of the Federal Competition Commission. The punishment was levied during an investigation that stemmed from a complaint by SABMiller Plc, the agency said.

Modelo never handed over information on prices, sales volumes and other matters requested by the competition agency, Perez Motta said. The probe began in 2003 and centered on whether the brewer used unfair practices in contracts that sought to smaller, local stores from distributing rivals' brews.

``This is an important precedent for future investigations,'' Perez Motta said. ``It's very clear that not providing information to the agency can result in a fine.''

Jennifer Shelley, a spokeswoman for Grupo Modelo in Mexico City, said that the competition commission was wrong in saying that the fine related to the SABMiller complaint. She said the fine was for not providing information and declined to comment further.

Mexico's antitrust agency, armed with a tougher competition law enacted ... More Info

The Netherlands: Heineken Holding N.V. reports strong organic Net Profit growth of 35% for HI 2007

Heineken Holding N.V. announced on August 29th strong volume growth and an organic Net Profit growth of 35% for the first six months of 2007 with all regions delivering higher volumes and profits.

Heineken Holding confirms its increased full-year forecast of organic Net Profit growth of 20%-25%, which was upgraded in July from 10-13%, mainly as a result of exceptionally mild weather in Europe in the first few months of 2007. Heineken Holding will pay an increased interim dividend of EUR 0.24 per ordinary share on 20 September 2007 (2006: EUR 0.16).

The net result of Heineken Holding N.V.’s participating interest in Heineken N.V. for the first half of 2007 turned out at €151 million.

Robust organic EBIT (beia) growth of 27%: EBIT (beia) increased 26.8% to EUR906 million. Net Profit (beia) grew 35% organically driven by higher EBIT and a decrease of financing expenses of EUR24 million. Reported Net Profit of Heineken N.V. was 30.4% lower, reflecting EUR240 million of exceptional charges, which compares with EUR28 million exceptional gains in the first-half of 2006.

Accelerated top-line growth: Revenue grew 8.0% organically, driven by strong volumes, an improved sales mix and higher pricing. Consolidated beer volumes amounted to 58.2 ... More Info

Finland: By the end of June, only one per cent more beer had been sold than last year

According to the Federation of the Brewing and Soft Drinks Industry’s statistics, a total of 423.7 million litres of beer, cider, long drinks, soft drinks and mineral waters had been sold by the end of June, koffi.fi posted on August 22nd. Beverage sales were up 2.3 per cent on last year. First-half growth figures indicate that beverage sales have levelled out, and beer sales in Finland rose by only one per cent.

Finns drank a total of 423.7 million litres of Finnish brewery beverages during the first half of the year. By the end of June, total sales had risen by 2.3 per cent, or 9.5 million litres, compared to last year. First-half growth figures indicate that sales levelled out towards the end of the review period.

Growth in beer sales slowed during the first half of the year. By the end of June, only one per cent more beer had been sold than last year. A total of 212.6 million litres of beer was sold in the January-June period – 2.1 million litres more than last year.

First-half cider sales totalled 20.3 million litres. Although cider sales remained at the same level as in the previous year, the popularity of long drinks ... More Info

Russia: Baltika Breweries announces share buy back

The Board of Directors of Baltika Breweries has called an Extraordinary General Shareholders Meeting (EGSM) to pass a resolution to reduce its issued share capital by buying back and cancelling shares, Baltika posted in a press release on August 28th.

The proposed shareholders meeting will be held by absentee voting. The final date for receiving ballots from shareholders will be October 15, 2007.

Providing the EGSM approves the resolution, the purchase of ordinary and preference shares from shareholders willing to participate will be conducted in accordance with Russian Federation legislation and the share buy back procedure adopted by the Board of Directors.

The Board wishes to buy back up to 9,894,230 ordinary and up to 1,225,114 preference shares. The price of purchase is 1300 RUR for one ordinary share and 880 RUR for one preference share.

The reduction of the Company’s issued share capital will facilitate:

- growth in profitability per share, thus enhancing the attractiveness of investing in Baltika Breweries;
- improvement in the capital structure;
- shareholders’ ability to sell their shares at a market rate without having to pay intermediaries, brokers and stock exchange services, commissions and other expenses related to the sale of their shares.

Baltic Beverages Holding (BBH), ... More Info

Belarus: According to Lukashenko, the country’s brewing industries can be upgraded without foreign investments

Belarusian President Alexander Lukashenko reckons the country’s brewing industries can be upgraded without foreign investments, Agrobel.by commented on August 27th.

“What we need is a tiny sum of $125 million, which is a tear drop. So why should we turn our back on this business and let foreign companies lay their hands on it? Why did the state choose to withdraw from that sector?” the president asked turning to members of the government, where they tabled the prospects of brewing industry development.

“It was as early as last year that I ordered the government to produce the terms of drawing foreign capital in the brewing sector. There has been little progress made ever since, and now we have to decide whether to let foreign companies into that highly profitable sector, or to produce quality beer ourselves,” the president said.

The head of state admitted, the overall capacity of Belarus’ brewing industries does not match the ever-growing demand. Besides, Belarusian beer has been losing the quality battle to foreign beverages.

Lukashenko said he had been astonished to know beer imports were accelerating. The president said Krynitsa, Olivaria, Lidskoye, Brestskoye and Rechitskoye are the best beer Belarusian people can ever get, so there is no point ... More Info

Barley News
Canada: Government will decide this week the future of Wheat Board challenge

Federal Agriculture Minister Gerry Ritz says the government will decide later this week whether to launch an appeal of a Federal Court ruling on the barley monopoly of the Canadian Wheat Board, Canadian Press communicated on August 27th.

A judge ruled last month that the Tory cabinet overstepped its authority when it passed a new regulation allowing farmers to sell their barley independently, and said such a change would have to be made via a law passed by Parliament.

Speaking in Saskatoon today, Ritz says ramming changes to the board's mandate through Parliament is not an option, mainly because the Tories are in a minority government.

The Opposition Liberals and the NDP both support leaving the board's monopoly intact.

Ritz says he's spoken to government advisers and key players on the board about a possible legal challenge.

The issue has divided grain producers, some of whom say the board ensures higher prices, while others say they would get more cash selling their grain on the open market.

Hops News
EU: Hop growing conditions favourable in general – significant damage in many growing regions caused by severe storms

Hop growing conditions in Europe following the warm and dry April were generally favourable in most growing areas, Joh. Barth & Sohn GmbH & Co. KG commented in its Hop Market Telegram of August 2007. The same source said: “Hop fields received ampleprecipitation and sufficient periods of warm and sunny weather. However, the 2007 growing season also has seen damage by severe storms and hail to many growing areas in Europe and around the world to an unprecedented extent.

Germany
With the exception of the very early maturing varieties (mainly Hallertau Mittelfrüh) all varieties have developed satisfactorily. Damage caused by a severe hail storm at the end of July in the area around Geisenfeld, which is estimated to have destroyed approx. 1000 mt of hops, has been partially offset by the generally good growing conditions. The official crop estimate took place between Aug. 17-22 projecting the German crop at 30.939 mt.

Slovenia
Two very severe hail storms in Slovenia, one on Aug. 17th in Slovenia’s major hop region, the Savinja valley representing about 70% of the total hop area, and the other on Aug. 21st in the smaller region of Slovenj Gradec, have destroyed approximately 1/3rd of the Slovenian crop. Barth’s current estimate puts ... More Info


Malting barley prices. French barley prices.
Nominal prices.

EURO = USD 1.364 August 29, 2007 
 Crop year   2007 
 Parity   FOB Creil 
 Position   July 2007 
Type   Variety  EURO  USD 
2RS  Scarlett  285.00  389.00 
2RS  Prestige  284.00  387.50 
2RS  Cellar  283.00  386.50 
2RS  Sebastien  282.00  385.00 
2RS  Astoria  282.00  385.00 
2RS  Cork   282.00  385.00 
6RW  Esterel   247.00  337.00 

Prices for Danish malting barley are available on site www.e-malt.com/MarketPrices
Theoretical malt prices.
  EURO = USD 1.364 August 29, 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  506.50  690.50  529.00  721.50  522.50  713.00  533.50  727.50 
2RS  Prestige  505.00  688.50  527.50  720.00  521.50  711.50  532.00  725.50 
2RS  Cellar  503.50  687.00  526.50  718.00  520.50  709.50  531.00  724.00 
2RS  Sebastien  502.50  685.50  525.50  716.50  519.00  708.00  529.50  722.50 
2RS  Astoria  502.50  685.50  525.50  716.50  519.00  708.00  529.50  722.50 
2RS  Cork   502.50  685.50  525.50  716.50  519.00  708.00  529.50  722.50 
2RS   Average price  503.50  687.00  526.50  718.00  520.50  709.50  531.00  724.00 
6RW  Esterel   458.50  626.50  482.50  657.50  476.00  649.50  486.50  663.50 
*  Asia Malt 70/30  490.50  669.00  513.50  700.00  507.00  691.50  517.50  706.00 
**  Asia Malt 50/50  481.50  657.00  504.50  688.00  498.00  679.50  508.50  694.00 

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
Black Sea: Barley Production Forecast

in 1000 tonnes20062007
Ukraine11,3006,800
Russia18,00016,300
Kazakhstan2,0001,900
Moldova200100
Source: UkrAgroConsult
Newsletter SummaryTop

Graph of the week


Source: HGCA, August 2007

These Days in Business History
August 27
1910 Mother Teresa was born (Agnes Gonxha Bojaxhiu), Yugoslavia, Nobel 1979
1950 1st transmission of a TV program from continental Europe shown on BBC
1965 Le Corbusier, (Charles Jeanneret), Swiss/French architect, dies at 77

August 28
1565 Oldest city in the US, St Augustine Fla, established
1828 Lev Tolstoi was born, Russian writer (War & Peace, Anna Karenina) [OS]
1963 Martin Luther King Jr's "I have a dream” speech held at Lincoln Memorial

August 29
1831 Michael Faraday demonstrates 1st electric transformer
1854 Self-governing windmill patented (Daniel Halladay)
1885 Gottlieb Daimler registers his “Reitwagen” (“riding carriage”) as German patent DRP No. 36423.
Agenda
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