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E-Malt.com Newsletter 04a
January 21 - January 23, 2008
Open!
Click here to get full size Newsletter


Quote of the week

"We brewers don’t make beer, we just get all the ingredients together and the beer makes itself."
Fritz Maytag, President Anchor Brewing
Currency Rates
Base Currency: Euro, EUR
on 23-January-2008

1 EUR = 1.4487 USD
1 EUR = 0.7439 GBP
1 EUR = 1.4955 CAD
1 EUR = 1.6822 AUD
1 EUR = 153.952 JPY
1 EUR = 2.6368 BRL
1 EUR = 35.8447 RUB
1 EUR = 10.5015 CNY
Base Currency: US Dollar
on 23-January-2008

1 USD = 0.6903 EUR
1 USD = 0.5135 GBP
1 USD = 1.0323 CAD
1 USD = 1.1612 AUD
1 USD = 106.269 JPY
1 USD = 1.8201 BRL
1 USD = 24.742 RUB
1 USD = 7.2487 CNY
Currency Rates Chart

Equities of the Largest Breweries

Equities of the Largest Breweries

Average Market Prices Change trend
January 23, 2008
Crop 2007 Crop 2008
2rs Barley €317.0-319.0 0.63% 2rs Barley €301.0-303.0 2.03%
6rw Barley €280.0-282.0 6rw Barley €257.0-259.0 0.78%
2rs Malt €577.0-579.0 0.43% 2rs Malt €546.0-548.0 1.39%
6rw Malt €530.5-532.5 6rw Malt €491.0-493.0 0.51%

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. The changes are compared to last Newsletter's prices. Arrows indicate the direction of the change.


Top Industry News

Turkey: Efes Breweries 2007 sales volume up 13.8% in 2007 ...Click here
UK: Beer market slumped by 6% in volume terms in November 2007 according to AC Nielsen ...Click here
USA & Denmark: Budweiser joins race for S&N ...Click here
Belgium: InBev launches new 300 million euro share buyback plan ...Click here
Romania: Beer price to increase by 30% in 2008 ...Click here
China: Yanjing Brewery eyes $207 million share selling to finance expansion ...Click here
USA: Imported beer volumes continue to grow ...Click here
Ukraine: Soufflet Group raise stake in Slavutsky malt plant ...Click here
India: SABMiller encouraging farmers to cultivate malting barley ...Click here




USA: Anheuser-Busch will advertise only its big beers at the Super Bowl ...More Info
Belgium: Duvel Moortgat bids for fellow brewer Liefmans ...More Info
Denmark: Carlsberg says S&N deal financing in place ...More Info
UK: Pubs could shut if licence laws change, warn pub bosses ...More Info
Canada: CEO of Baltic Beverages Holding visits Canada ...More Info
Austria: Stiegl Brewery reports 1.3% growth in beer production ...More Info
Republic of Moldova: Foster’s will be sold on a new market in Europe ...More Info
Bulgaria: Carlsberg revives century-old connoisseur tradition to check beer quality ...More Info
Canada: Molson's Montreal Brewery wins environmental award ...More Info
Canada: Steelback Brewery appoints new President ...More Info
Canada: University of Saskatchewan signs funding agreement for malting barley research ...More Info
Australia: Successful start to deregulated barley exports ...More Info
Go to our news database with more than 12046 articles.
Today with the possibility to be translated in 7 different languages!
DE FR SP IT PT RU CN

Brewery News

Turkey: Efes Breweries 2007 sales volume up 13.8% in 2007

Efes Breweries International NV said its total sales volume increased to 13.3 million hectolitres in 2007, by growing 13.8 pct over 2006, according to company’s press release, January 18.

In 2007 domestic sales volume of Turkey Beer Operations increased by 7.9% over the previous year and reached 7.1 mhl. Although the Ramadan moved primarily into the third quarter in 2007, which is the peak season for Turkish beer business, volume growth momentum accelerated owing to the increased tourism activity, the dynamic performance of our initiatives towards further development of off-premise outlets, in addition to favorable weather conditions and effective marketing activities in the period and throughout the year in general. The fourth quarter was especially strong with 22.1% year-on-year growth. Strong domestic volume growth resulted in market share appreciation taking our estimated market share to 83% from 82% in 2007.

In addition to factors listed above, volume growth in the fourth quarter was also positively affected by Government’s introduction of tag application for the alcoholic drinks sector in order to prevent contraband products, primarily in wine category. This resulted in a decreased presence of such products in the market, which impacted beer sales positively.

Export volumes improved on a quarter by quarter ...More Info


UK: Beer market slumped by 6% in volume terms in November 2007 according to AC Nielsen

On-trade volume figures published by AC Nielsen show the beer market slumped by 6% in volume terms in November 2007 compared to the year before, The Morning Advertiser published January 18.

The figures are not quite as bad as those published by the British Beer and Pub Association, which showed a 9.7% drop in beer volumes in November 2007.

The AC Neilsen figures show premium ale down 8%, standard ale down 8%, standard lager down 5%, premium lager down 10%, stout down by 2% and cider up by 3%.

Wine was down by 4% and spirits dropped by 3%, with soft drinks sales down by 2%.

AC Nielsen consultant Graham Page said: “Our beer numbers are not quite as bad as the BPPA’s, but here we are looking at sales in retail outlets, so some evidence of operators using stock and low reordering, as the smoking ban effects kick in harder.

“I think January to March will be very poor, without any real respite until June/July, assuming we have half a summer.

“I think we may be seeing the Moving Annual Total (MAT) for beer by Easter being -7/8%, possibly worse and the current economic circumstances are simply not supportive of anything other than consumers and ...More Info


USA & Denmark: Budweiser joins race for S&N

Budweiser maker Anheuser-Busch (A-B) may show up at United Breweries (UB) to acquire Scottish & Newcastle (S&N)’s 37.5% stake, which is in play with the latter entering into discussions with Carlsberg and Heineken combine to sell off its worldwide interests, TNN reported January 21. Dutch brewer Heineken has already moved for S&N stake in the Vijay Mallya-led Indian company as a possible carve up of the UK brewer could be achieved in the coming week.

Mr Mallya and UK brewer S&N hold equal 37.5% stake in UB, which accounts for 48% share of India’s rapidly expanding beer consumption with Kingfisher as its flagship brand. The likelihood of an unsolicited bid from A-B, and the other potential suitors like InBev or SABMiller, strengthened with UB stating that it possessed a right of first refusal on S&N stake under certain circumstances.

“We are fully aware of our rights. There is a right of first refusal under certain circumstances, and we are not going to explain in public. It is sufficient to say that we have received approaches from more than one global brewer,” a top UB official told ET.


Belgium: InBev launches new 300 million euro share buyback plan

InBev launches a new buy-back program for an amount up to 300 million Euro of InBev shares, according to company’s press release, January 21.

Following the successful completion of its 300 million Euro buy-back program announced on 30 August 2007, InBev’s Board of Directors resolved to initiate a new share buy-back program for an amount of up to 300 million Euro.

The share buyback will be executed pursuant to the powers granted at the Extraordinary General Meeting of Shareholders of 24 April 2007, and, in accordance with that mandate, may be conducted within 8 months of the date of the resolution.

InBev’s share buy-back programs are an integral component of its strategy to pro-actively manage its capital structure and return cash to shareholders, as well as to hedge the company’s share based compensation system.

About InBev

InBev is a publicly traded company based in Leuven, Belgium. The company's origins date back to 1366, and today it is the leading global brewer. InBev’s strategy is to strengthen its local platforms by building significant positions in the world's major beer markets through organic growth, world-class efficiency, targeted external growth, and by putting consumers first. InBev has a portfolio of more than 200 brands, including Stella Artois®, Brahma®, ...More Info


Romania: Beer price to increase by 30% in 2008

A double price for hops in 2007 compared with 2006 and the increase of malt price will generate a 30% growth in beer price, according to Vifor Versescu, President of Romanian Independent Beer Producers, Adevarul published January 21.

“The hop price for 2006 harvest was of 270 euro per tonne but in 2007 it has increased till 560-630 euro. For malt, the price was 107 euro per tonne in 2006, in 2007 it has reached even 1000 euro. Meanwhile the price for raw materials will continue to grow and will generate an increase in beer prices.”


China: Yanjing Brewery eyes $207 million share selling to finance expansion

Yanjing Brewery Co Ltd, China's second-biggest beer maker, aims to raise between 1.2 billion yuan ($166 million) and 1.5 billion yuan ($207 million) by selling additional shares to fund expansion, two people familiar with the plan said, according to Reuters, January 21.

A spokeswoman for Beijing-based Yanjing declined to confirm the fund-raising target, but said the share sale plan was under discussion and would be announced towards the end of the week.

Trading in Yanjing shares, which has been suspended since Jan. 18 pending an announcement, would resume next week, she said. The stock had risen 79 percent over the past 12 months.

Guangfa Securities Co has been appointed the underwriter for the new share offer, the market sources, who asked not to be identified, told Reuters.

Chinese brewers are racing to boost their share of the world's largest beer market by volume.

Yanjing's larger rival, Tsingtao Brewery Co, unveiled a plan in November to sell domestic corporate bonds to raise up to 1.5 billion yuan to increase capacity.

"Yanjing needs capital to expand nationwide because of increasing pressure from Tsingtao," said Chen Gang, analyst at Sinolink Securities Co.

Yanjing, which dominates the Beijing market, has 10 percent of China's beer market, much lower than the 16 ...More Info


USA: Imported beer volumes continue to grow

While beer drinking has declined since 2003, the imported-beer market penetration has held steady, says Chicago-based Mintel, according to MediaPostPublications, January 22. Between 2001 and 2006, imported beer's market share increased by 2.3%, which the consultancy says is the highest market share gain among all alcoholic beverages.

Mintel says imported-beer sales in the U.S. will grow 5.9% through 2012. A full 26% of beer drinkers imbibe imported beer.

The firm says import beers are benefiting from consumers' upgrading to brands like Stella Artois, and "consumer inclination to try new and small [import] brands." The firm says that Chinese brand Tsingtao, Czech brand Pilsner Urquell, German brands Hacker-Pschorr and Paulaner Biers, Italian brands Moretti and Peroni, Japanese brand Sapporo, Dutch brand Grolsch, and British brand Newcastle Brown Ale all have boosted U.S. sales and market share since 2002.

Mintel says the up-grade trend is being driven--as in other CPG, appliance, and auto market segments--by the expansion of higher-income households in the U.S. The firm notes that from 1999-2006, the number of households pulling in over $75,000 increased by 50%, or nearly 12 million.

The consultancy also says import-beer growth is being spurred by demographic diversity in the U.S., with Hispanic and Asian populations "considerably more ...More Info


Malt News

Ukraine: Soufflet Group raise stake in Slavutsky malt plant

Soufflet Group raised its share in Slavutsky Malt Plant, one of the biggest malt producers in Ukraine, till 67.34% by purchasing 16,639 million shares, Ukrbeer reported January 21.

European Bank of Reconstruction and Development is the owner of 5.92 million shares, or 24% of total shares.


Barley News

India: SABMiller encouraging farmers to cultivate malting barley

SKOL Breweries Ltd of the SAB Miller-India is encouraging farmers in Rajasthan to cultivate the type of malt barley required by the industry, The Financial Express reported January 21.

Barley grown in India has high protein content of 13% to 15% as a coarse cereal it caters to poor man’s nutrition needs. But as a neglected crop, the area under barley has been fast decreasing over the years. In the last year, area under barley was only 0.671 million hectare.

The reason being that farmers prefer to cultivate crops which has higher support prices and greater market demand.

“Market demand for a crop can be created if alternate uses are put in place. Right now Indian barley has few alternate uses. The high protein content in Indian barley is not suitable for making beer. Ideally the protein content in barley should be in the range of 7% to 10% if it is to be used in the beer industry,” said the director of corporate affairs and communication in SAB Miller-India, Sundeep Kumar.

He said that in previous year out of the total production of 1.227 million tonne barley, only 200,000 tonne was used for making beer. “We are sourcing seeds from different countries and ...More Info

Scientific Digest

Grain quality and yield of spring barley in field trials under variable growing conditions

M. Váňová(1), S. Palík(1), J. Hajšlová(2), I. Burešová(1) (1) Agricultural Research Institute Kroměříž, Ltd., Czech Republic (2) Institute of Chemical Technology, Prague, Czech Republic

Abstract
Effects of the year, previous crop and control of leaf diseases on grain yield, test weight, protein and starch content, Fusarium head blight (FHB) and deoxynivalenol (DON) content in grain were investigated in four spring barley varieties. The trials were set up in 2001–2004 at Kroměříž (235 m above sea level, average annual temperature 8.7°C, annual precipitation sum 599 mm) in a five-course crop rotation, where spring barley followed the previous crops sugar beet, winter wheat, maize, and oilseed rape. The experimental years differed a lot in temperature and precipitation. The years 2001 and 2002 were dry and warm and grain yield was much lower as compared to that in the following years even though the other growing conditions were identical. The most stable quality parameters were obtained after the previous crop sugar beet. The average value of test weight was 661 g/l (ranging from 629 to 685 g/l), protein content 11.2% (10.3–11.7%) and starch content 61.5% (58.9–64.9%). Grain yield averaged 6.67 t/ha. Test weight after maize was on average 658 g/l (619–692 g/l), protein content 11.5% (10.1–12.4%), starch content 60.7% (59.2–63.8%), and grain yield 6.24 t/ha. Test weight and starch content were lower and protein content higher after oilseed rape and winter wheat. A higher FHB incidence and DON content were found after the previous crop maize. In 2001 and 2002 with strong water deficit during the growing seasons, more grains infected by Fusarium spp. were detected and DON content was higher too. The increase was due to a short rainy period at heading of spring barley. Problems of variable conditions for growing malting varieties of spring barley and current possibilities of producing both good grain yields and quality are discussed. Keywords: malting spring barley; yield; quality parameters; Fusarium spp.; deoxynivalenol
... Load full article, 9 pages, 162 Kb, PDF file

Malting barley prices.
French barley prices. Nominal prices
EURO = USD 1.4487 January 23, 2008 
 Crop year   2007   2008 
 Parity   FOB Creil   FOB Creil 
 Position   July 2007   July 2008 
Type   Variety  EURO  USD  EURO  USD 
2RS  Scarlett  320.00  463.50  304.00  440.50 
2RS  Prestige  319.00  462.50  303.00  439.00 
2RS  Cellar  318.00  461.00  302.00  437.50 
2RS  Sebastien  317.00  459.50  301.00  436.50 
2RS  Astoria  317.00  459.50  301.00  436.50 
2RS  Cork   317.00  459.50  301.00  436.50 
6RW  Esterel   281.00  407.50  258.00  374.00 

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

Theoretical malt prices

EURO = USD 1.4487 January 23, 2008
Crop year  2007 
Parity  FOB Antwerp 
Position  Jan 2008 - Sept 2008 
Conditioning  Bulk   In bags  Bulk containers Bags, containers
Malting barley variety  EURO  USD  EURO  USD  EURO  USD  EURO  USD 
2RS  Scarlett  580.50  841.00  604.00  875.50  596.00  863.50  610.50  884.00 
2RS  Prestige  579.50  839.00  603.00  873.50  595.00  861.50  609.00  882.00 
2RS  Cellar  578.00  837.50  601.50  871.50  593.50  860.00  607.50  880.50 
2RS  Sebastien  577.00  835.50  600.50  870.00  592.50  858.00  606.50  878.50 
2RS  Astoria  577.00  835.50  600.50  870.00  592.50  858.00  606.50  878.50 
2RS  Cork   577.00  835.50  600.50  870.00  592.50  858.00  606.50  878.50 
2RS   Average price  578.00  837.50  601.50  871.50  593.50  860.00  607.50  880.50 
6RW  Esterel   531.50  771.50  556.50  805.50  548.00  794.00  562.50  814.50 
Asia Malt 70/30  564.50  817.50  588.00  852.00  580.00  840.00  594.00  860.50 
**  Asia Malt 50/50  555.50  804.50  579.00  838.50  571.00  827.00  585.00  847.50 


EURO = USD 1.4487 January 23, 2008 
Crop year  2008 
Parity  FOB Antwerp 
Position  Oct 2008 - Sept 2009 
Conditioning  Bulk   In bags  Bulk containers Bags, containers
Malting barley variety  EURO USD EURO  USD EURO USD  EURO  USD
2RS  Scarlett  549.50  796.00  573.00  830.50  565.00  818.50  579.50  839.00 
2RS  Prestige  548.50  794.50  572.00  828.50  564.00  816.50  578.00  837.50 
2RS  Cellar  547.00  792.50  570.50  826.50  562.50  815.00  576.50  835.50 
2RS  Sebastien  546.00  790.50  569.50  825.00  561.50  813.00  575.50  833.50 
2RS  Astoria  546.00  790.50  569.50  825.00  561.50  813.00  575.50  833.50 
2RS  Cork   546.00  790.50  569.50  825.00  561.50  813.00  575.50  833.50 
2RS   Average price  547.00  792.50  570.50  826.50  562.50  815.00  576.50  835.50 
6RW  Esterel   492.00  714.00  516.50  748.50  508.50  736.50  522.50  757.00 
Asia Malt 70/30  531.00  769.00  554.50  803.50  546.50  791.50  560.50  812.00 
**  Asia Malt 50/50  520.00  753.50  543.50  787.50  535.50  775.50  549.50  796.50 

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

Prices Evolution

Prices evolution
Source: Statistics Canada; Forecast: December 12, 2007

Table of the week

UK Barley Supply and Demand Estimates

  `000 tonnes  2002/03 2006/07 average 2005/06 estimate 2006/07 estimate 2007/08 Dec 2007 % change on 06/07
1 Opening Stocks 985 932 887 779 -12%
2 Production 5,804 5,495 5,239 5,149 -2%
3 Imports 79 76 110 108 -2%
4 Total Availability 6,868 6,503 6,236 6,036 -3%
5 Human and Industrial Consumption 1,819 1,714 1,715 1,737 1%
6 Usage as Animal Feed 3,207 3,094 3,051 3,011 -1%
7 Seed 144 143 135 133 -2%
8 Other 29 27 26 26 0%
9 Total Domestic Consumption 5,200 4,978 4,927 4,907 0%
10 Balance (4) - (9) 1,668 1,525 1,309 1,129 -14%
11 Exports 784 638 530 278 -48%
12 Intervention Stocks 38 30 0 0 -
13 Exports / Intervention Stocks (b) 822 668 530 278 -48%
14 Commercial End-Season Stocks 847 857 779 851 9%
Source: Home-Grown Cereals Authority (HGCA), December 2007 (July - June Years)
Graph Of The Week



These Days in Business History
January 21
1846 1st edition of Charles Dickens' "Daily News"
1976 Supersonic Concorde, 1st commercial flights, by Britain and France
1994 Dow Jones passes 3900 (record 3,914.20)

January 22
1970 1st commercial Boeing 747 flight, New York to London in 6 hours
1967 The microwave oven is invented

January 23
1932 The Reconstruction Finance Corp. is created under a law signed today by Pres. Herbert Hoover
1849 Patent granted for an envelope-making machine
1991 World's largest oil spill, caused by embattled Iraqi forces in Kuwait

Agenda