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E-Malt.com Newsletter 10a
March 03 - March 05, 2008
Open!
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Quote of the week

"High achievement always takes place in the framework of high expectation."
Charles Kettering
Currency Rates
Base Currency: Euro, EUR
on 05-March-2008

1 EUR = 1.5203 USD
1 EUR = 0.7658 GBP
1 EUR = 1.5068 CAD
1 EUR = 1.6304 AUD
1 EUR = 156.915 JPY
1 EUR = 2.546 BRL
1 EUR = 36.5284 RUB
1 EUR = 10.8188 CNY
Base Currency: US Dollar
on 05-March-2008

1 USD = 0.6578 EUR
1 USD = 0.5037 GBP
1 USD = 0.9911 CAD
1 USD = 1.0725 AUD
1 USD = 103.217 JPY
1 USD = 1.6747 BRL
1 USD = 24.0268 RUB
1 USD = 7.1161 CNY
Currency Rates Chart

Equities of the Largest Breweries

Equities of the Largest Breweries

Average Market Prices Change trend
March 05, 2008
Type Crop 2007 Crop 2008
2rs Barley €279.0-281.0 €279.0-281.0 0.36%
6rw Barley €247.0-249.0 €247.0-249.0 0.40%
2rs Malt €536.5-538.5 0.09% €521.0-523.0 0.29%
6rw Malt €496.0-498.0 0.10% €480.5-482.5 0.31%
Feed Barley €192.0-194.0 nq  

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

China: Yanjing Brewery to raise beer prices and start processing its own barley ...Click here
UK: Scottish and Newcastle will be the first in the world to produce energy from spent grain ...Click here
Romania: Heineken acquires Bere Mures ...Click here
Philippines: San Miguel brewery’s net profit up 9% in 2007 ...Click here
Vietnam: Sabeco inaugurates Asia’s most modern beer plant ...Click here
Serbia: Carlsberg invests 30 million euro in Celarevo brewery to expand production capacity ...Click here
Uganda & Kenya: East African Breweries H1 pretax profit up 22% ...Click here
Europe: Malt markets inactive in February, prices not moved much ...Click here
Europe: Barley markets much weaker in February for both old and new crop ...Click here
Europe: Mild weather made farmers to start spring barley planting earlier ...Click here
Canada: Government introduces bill to end wheat board barley monopoly ...Click here




Belarus: President removes import quota on beer, allays advertising restrictions ...More Info
Canada: Russell Breweries announces Q2 2008 net loss of 49% ...More Info
Netherlands & UK: EU extends review of Heineken ...More Info
Malawi: Bottling and Brewing Group Limited launches Tuborg beer ...More Info
Australia: Fosters-owned Cascade brewery produces 'green' beer ...More Info
Luxembourg: Wernelin sells 250,000 InBev shares for 15.1 million euro ...More Info
Zimbabwe: SABMiller denies funding Makoni’s presidential campaign ...More Info
Canada: Sleeman Breweries replaces four senior executives including president ...More Info
Ukraine: Government to consider the question of barley export quota increasing on March 6 ...More Info
India: Barley futures may open higher on expected good demand from domestic brewers ...More Info
Jordan: Jordan tenders to buy 100,000 tonnes of feed barley ...More Info
Go to our news database with more than 12286 articles.
Today with the possibility to be translated in 7 different languages!
DE FR SP IT PT RU CN

Brewery News

China: Yanjing Brewery to raise beer prices and start processing its own barley

Beijing Yanjing Brewery Co will raise beer prices and start processing its own barley this year, as it joins other Chinese food and beverage companies moving into upstream production processes to battle rising raw material costs, Reuters reported March 5.

Yanjing Brewery said it would lift prices of select products in certain regions.

It will also establish barley processing operations in two provinces and push sales of high-end products, its annual report said.

Chinese makers of beer, wine and dairy products are moving to protect margins after prices of agricultural products, including wheat, raw milk and sugar, surged in 2007 and are still rising.

"Inflation actually benefits big players in the industry, like Yanjing and spirits maker Moutai (Kweichow Moutai Co Ltd, as it gives them an excuse for raising prices," said Guo Changsheng, analyst at Shanghai Securities.

"Rising costs would also help to eliminate smaller rivals with less pricing power and accelerate consolidation."

Yanjing's profit jumped 33 percent last year, outpacing its 15 percent gain in sales despite cost increases, as it sold more premium products and raised prices of six products in December.

Yanjing, which dominates the Beijing beer market with an 85 percent market share, also said it expected sales volume to double by ...More Info


UK: Scottish and Newcastle will be the first in the world to produce energy from spent grain

A brewery has taken a major step towards being self-sufficient in energy. Scottish and Newcastle (S&N) will be the first in the world to produce both electric and heat from spent grain, a by-product of the brewing process, Energycurrent reported March 3.

Wartsila has been awarded two contracts to supply and install equipment for two biomass-fuelled combined heat and power plants (CHP) at premises in Manchester. The CHP plants will each have a thermal output of 7.4 MWth and an electrical output of 3.1 MWe. The plants, which will burn a mixture of spent grain and wood chips from local sources, are due to start operations in the first and second quarters of 2009, producing steam and electricity for the breweries' processes and exporting excess electricity to the local electricity network.

S&N will earn Renewable Obligation Certificates for its production of renewable electricity. These BioPower plants will help the UK meet its target of having renewables power 10 percent of the country's electric supply by 2010.

S&N Project Manager Andrew McMurtrie said, "We believe the investments make good commercial sense, providing some protection from the volatility of the energy markets, as well offering additional security of supply."


Romania: Heineken acquires Bere Mures

Heineken N.V. announced that it is to acquire the Romanian brewer Bere Mures, in a press release, February 29. The transaction will strengthen Heineken’s number one position in the country, increasing both its market share - to 31% - and its volume to 6 million hectolitres.

The acquisition price has not been disclosed and the transaction will be funded from existing cash resources. It will be earnings enhancing in 2009 and value enhancing in 2012. The proposed acquisition is subject to approval by the Romanian competition authority.

The brewer, established in 1992, is situated in Targu Mures in the Transylvania region, 300 km north-west of Bucharest and employs 394 staff. The business is profitable with 2007 sales volumes of 1.2 million hectoliters and a production capacity of 1.6 million hectolitres.

Bere Mures has a beer portfolio which includes Neumarkt, one of the country’s leading beers, and the smaller Dracula and Sovata brands. All brands are available in one-way PET packaging.

The company also owns two profitable mineral water brands, Cezara sparkling mineral water and Cheile Cibului still water.

Nico Nusmeier, Regional President, Heineken Central and Eastern Europe, commented: “This transaction enables us to consolidate our leading position in Romania. It creates a stronger, more diversified ...More Info


Philippines: San Miguel brewery’s net profit up 9% in 2007

Southeast Asian food and drinks company San Miguel said net profit at its flagship Philippine beer unit grew 9 percent to 8 billion pesos ($196 million) in 2007, according to Reuters, March 3.

The Manila-headquartered company expects to rise up to 25 billion pesos from listing the beer group in the first half of this year to partly fund a foray into heavy industry in the Philippines.

San Miguel Brewery, which dominates the local market for beer, said net sales rose nearly 9 percent to 44.14 billion pesos in the year, with volume growth of almost 8 percent. The company benefited from improving demand and from congressional elections, which saw free beer distributed at some rallies.

In 2006, San Miguel Brewery's revenues fell 1 percent as consumption suffered from a higher sales tax.

San Miguel's chairman Eduardo Cojunagco was reported by local media on Monday as saying he was open to selling his 17 percent stake, valued at around 26 billion pesos, if a good offer came along.

San Miguel has been selling businesses to raise funds for a push into power, mining, infrastructure and real estate at home. Last year, it sold its biggest overseas business, Australian dairy and juice manufacturer National Foods, to ...More Info


Vietnam: Sabeco inaugurates Asia’s most modern beer plant

The Saigon Beer Alcohol Beverage Corporation (Sabeco) held an inauguration ceremony for its new brewery in Ho Chi Minh City’s outlying district of Cu Chi, Thanhniennews reported March 3.

The VND1.9 trillion (US$119 million) beverage factory, on a 50 hectare site, will have an initial output of 200 million liters a year, which may soon be lifted to 300 million liters.

The brewery will produce one billion liters of beer by 2010 and the product will be exported to the world, according to plant management.

Sabeco said the brewery, which will use German technology, was the most modern in the Southeast Asia.


Serbia: Carlsberg invests 30 million euro in Celarevo brewery to expand production capacity

Carlsberg Serbia has announced that it will invest EUR 30 mln in its Čelarevo brewery, Beta News reported March 3.

The money will be spent on development and expansion of the capacities, Carlsberg general director for Southeast Europe Isaac Sheps told Beta.

This investment would allow for beer production in Čelarevo to increase from 1.5 million hectoliters in 2007, to two million hectoliters this year, Sheps added.

Carlsberg is ranked second on the Serbian market with a 22.4 percent share, the agency said.


Uganda & Kenya: East African Breweries H1 pretax profit up 22%

East African Breweries posted a 22 percent rise in first-half pretax profit to 6.45 billion shillings, ($94.85 million) for the six months ended December 31, 2007, boosted by sales in its main Kenyan market, the company said, according to Reuters, March 3.

"We have delivered extremely good profit before tax growth of 22 percent. Kenya has provided the powerhouse of revenue growth," group commercial director Chris Caldwell told a briefing for investors.

Kenya contributed 66 percent of the group's 16.1 billion shillings of revenues in the first half to end-December, up 27 percent from the previous year's total.

The company, majority owned by the world's biggest drinks group, Diageo, had pretax profit of 5.3 billion shillings in the first half a year ago.

EABL said post-election unrest in Kenya had disrupted transportation of products and fuel to plants in Uganda for five days in December, and slowed sales in January and February.

A disputed presidential vote triggered violence that killed at least 1,000 people, displaced 300,000 and interrupted economic activity.

The company hopes to recover in the second half, after President Mwai Kibaki and opposition leader Raila Odinga signed a power-sharing deal last week, helping ease tension in the country and restore investor confidence.

"In the last ...More Info


Malt News

Europe: Malt markets inactive in February, prices not moved much

Malt markets have been inactive, prices have not moved much, analysts reported February 29. They have followed weaker malting barley prices only to a small extent, which seems to prove once more the tightness of malting capacities and malt supplies.

Present prices range from EUR 540,- to 570,- CPT breweries, delivery 2009. Only a few export contracts were reported, at prices of EUR 560,- to 570,- FOB seaport, in bulk in container.


Barley News

Europe: Barley markets much weaker in February for both old and new crop

Old crop markets are much weaker than in January, the analysts reported February 29. The reason is an unexpected large offer of French winter and spring barley of crop 2007, which put price levels of old crop and new crop almost at par, basis July, at EUR 280/282 FOB Creil and 290/292 FOB Moselle.

The amount of old crop barley offered is even more surprising, when one looks at the existing quality problems. Many brewers complain about major gushing problems of European malt. A technical solution seems out of the question, and Euromalt considers taking joint action to protect their members from negative contractual consequences. EU barley of several origins has shown a weak germination since the beginning of the campaign, lately the number of rejections has risen, and maltsters are apprehensive about the performance of barley in spring and summer.

New crop barley has also traded at lower prices in February. French spring barley markets are mentioned above, winter barleys Esterel and Vanessa are quoted EUR 260,-, basis July, FOB Moselle, Cervoise another EUR 10-15 lower. Danish two-row spring barley, basis first half October, FOB seaport, is quoted EUR 275, English barley for the same positon was sold at EUR ...More Info


Europe: Mild weather made farmers to start spring barley planting earlier

Winter is over, and it has been warmer again than in former years, analysts reported February 29. There has been sufficient precipitation except for the Iberian Peninsula, which had been extremely lucky last year. Winter grains are in good shape, and spring planting has begun very early.

France reports spring barley planting south of Paris almost finished, north of Paris at least 50 % done. The same goes for the U.K., where South England has planted almost all its spring barley, while East Anglia, Lincoln and Yorkshire have also seeded about half of their intended acreage. In Germany the Upper Rhine, Main and Neckar valleys have finished planting. If the mild weather continues, also Northern Europe will start seeding in March.


Canada: Government introduces bill to end wheat board barley monopoly

The Conservatives introduced a bill to end the Canadian Wheat Board's monopoly on sales of western barley, a move that opponents see as the start of a sinister scheme to eliminate the marketing agency, Canadian Press reported March 4.

The opposition parties all oppose the legislation and the government has mused about making it a matter of confidence, in essence daring them to vote it down and force an election.

Agriculture Minister Gerry Ritz, who says it is simply a matter of allowing producers the choice of selling their barley crops themselves or through the board, suggests the Liberals may back down.

"I'm hearing a glimmer there that they may decide this isn't the hill they want to die on," he said.

The board has a monopoly on sales of most western grain crops, in what is known as "single-desk" selling. Supporters say this helps farmers get the best prices. Opponents say farmers could do better cutting their own deals.

The Liberals are trying to kill the bill by claiming it doesn't meet legal requirements set out in the existing Canadian Wheat Board Act.

Wayne Easter, the Liberal agriculture critic, says the bill flies in the face of a key section of that Act.

"The section is ...More Info

Scientific Digest

Comparison of Foam Quality and the Influence of Hop a-Acids and Proteins Using Five Foam Analysis Methods

D. Evan Evans and Anne Surrel, Tasmanian Institute of Agricultural Research, University of Tasmania, Hobart, TAS, Australia; Megan Sheehy and Douglas C. Stewart, Joe White Maltings Ltd., Adelaide, SA, Australia; and Louise H. Robinson, Lion Nathan Limited, Lidcombe, NSW, Australia


Abstract
J. Am. Soc. Brew. Chem. 66(1):1-10, 2008 Rudin, NIBEM, lacing index, cylinder pour, and shake foam quality tests were comprehensively compared to evaluate their utility and responsiveness to beer components that are thought to influence foam quality. Each of the tests responded differently to beer characteristics that influence beer foam quality. The Rudin and shake tests responded positively to the level and content of foam-promoting proteins (i.e., protein Z4) and also to the level of isomerized hop a-acids in beer. However, the shake test did not differentiate between isomerized and hydrogenated hop a-acids, whereas the Rudin test did. The lacing index responded positively to isomerized hop a-acids, hydrogenated in particular, but possibly negatively to alcohol. Hydrogenation of hop a-acids and protein Z4 increased foam stability as measured by the cylinder pour test, whereas alcohol, higher pH, and CO2 level tended to reduce foam stability. A positive association with the level of isomerized hop acids was not observed; however, further investigation is required to clarify this. Finally, the NIBEM test results were influenced positively by the level of isomerized hop acids and protein Z4, while they were negatively correlated with viscosity and final gravity. Hop a-acid hydrogenation substantially improved NIBEM foam stability compared with isomerized hop a-acids. The NIBEM test was correlated positively with the Rudin, cylinder pour, lacing index, and shake (foam quality generated) tests. These comparisons and observations suggest how these foam quality evaluation tests may be best used for quality control/assurance and beverage development.
... Load full article, 10 pages, 212 Kb, PDF file

Malting barley prices.

French Malting Barley Prices. Nominal prices
EURO = USD 1.5203 March 05, 2008 
 Crop year   2007   2008 
 Parity   FOB Creil   FOB Creil 
 Position   July 2007   July 2008 
Type   Variety  EURO  USD  EURO  USD 
2RS  Scarlett  282.00  429.00  282.00  429.00 
2RS  Prestige  281.00  427.50  281.00  427.50 
2RS  Cellar  280.00  426.00  280.00  426.00 
2RS  Sebastien  279.00  424.50  279.00  424.50 
2RS  Astoria  279.00  424.50  279.00  424.50 
2RS  Cork   279.00  424.50  279.00  424.50 
6RW  Esterel   248.00  377.50  248.00  377.50 
French Feed Barley Prices. Nominal prices
EURO = USD 1.5203 March 05, 2008
Crop year 2007
Parity FOB Creil
Position July 2007
Type EURO USD
Feed Barley 193.00 293.00

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

Theoretical malt prices

EURO = USD 1.5203 March 05, 2008
Crop year  2007 
Parity  FOB Antwerp 
Position  March 2008 - Sept 2008 
Conditioning  Bulk   In bags  Bulk containers Bags, containers
Malting barley variety  EURO  USD  EURO  USD  EURO  USD  EURO  USD 
2RS  Scarlett  540.00  820.50  563.50  856.50  555.50  844.50  569.50  866.00 
2RS  Prestige  538.50  819.00  562.50  855.00  554.50  842.50  568.50  864.00 
2RS  Cellar  537.50  817.00  561.00  853.00  553.00  840.50  567.00  862.00 
2RS  Sebastien  536.50  815.00  560.00  851.00  551.50  838.50  566.00  860.50 
2RS  Astoria  536.50  815.00  560.00  851.00  551.50  838.50  566.00  860.50 
2RS  Cork   536.50  815.00  560.00  851.00  551.50  838.50  566.00  860.50 
2RS   Average price  537.50  817.00  561.00  853.00  553.00  840.50  567.00  862.00 
6RW  Esterel   497.00  757.00  521.50  793.00  513.50  781.00  528.00  802.50 
Asia Malt 70/30  525.50  799.00  549.50  835.00  541.50  822.50  555.50  844.50 
**  Asia Malt 50/50  517.50  787.00  541.50  823.00  533.50  810.50  547.50  832.50 


EURO = USD 1.5203 March 05, 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  524.50  797.50  548.00  833.50  540.00  821.00  554.00  842.50 
2RS  Prestige  523.50  795.50  547.00  831.50  538.50  819.00  553.00  840.50 
2RS  Cellar  522.00  793.50  545.50  829.50  537.50  817.00  551.50  838.50 
2RS  Sebastien  520.50  791.50  544.50  827.50  536.50  815.50  550.50  837.00 
2RS  Astoria  520.50  791.50  544.50  827.50  536.50  815.50  550.50  837.00 
2RS  Cork   520.50  791.50  544.50  827.50  536.50  815.50  550.50  837.00 
2RS   Average price  522.00  793.50  545.50  829.50  537.50  817.00  551.50  838.50 
6RW  Esterel   481.50  733.50  506.50  769.50  498.00  757.50  512.50  779.00 
Asia Malt 70/30  510.00  775.50  534.00  811.50  525.50  799.00  540.00  820.50 
**  Asia Malt 50/50  502.50  763.50  526.00  799.50  518.00  787.50  532.00  808.50 

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: E-malt.com

Table of the week

EU Malt Export Licence Fixations

(in tonnes) 2004-2005 2005-2006 2006-2007 July 01, 2007 -
February 26, 2008  
 France   674,140  648,338  460,829  234,846 
 Germany   295,876  236,735  239,633  247,220 
 Belgium   418,344  551,396  531,255  363,260 
 Bulgaria   1,270  2,070 
 U.K. 201,892  190,862  114,156  84,635 
 Finland   64,986  79,357  70,783  37,993 
 Denmark    74,743  68,809  72,374  63,910 
 Sweden   78,369  96,100  90,550  80,700 
 Netherlands   49,128  92,383  78,754  57,450 
 Ireland   56,924  7,001  2,250 
 Italy  181  1,840 
 Austria   16,954  38,932  22,743  5,740 
 Spain  
 Greece  
 Portugal   850  1,088  992  272 
 Czech Republic   82,062  77,036  41,769  15,935 
 Poland   167-  2,025 
 Hungary   85,792  16,865  5,474  2,075 
 Slovakia   76,916  75,863  23,157  7,445 
 Lithuania  54  172  1,185 
 Total EU   2,219,661  2,180,986  1,756,941  1,208,541 

  Total Wheat malt, tonnes  
Total 2004 - 2005  8,162 
Total 2005 - 2006  4,693 
Total 2006 - 2007  5,404 
July 01, 2007 - February 26, 2008  5,711 
   
  Total Roasted malt, tonnes  
Total 2004 - 2005  27,212 
Total 2005 - 2006  23,257 
Total 2006 - 2007  30,084 
July 01, 2007 - February 26, 2008  18,460 
Graph Of The Week



These Days in Business History
March 3
1885 American Telephone and Telegraph (AT&T) incorporates
1979 Meeting in Geneva, OPEC declares that its members will raise the price of crude oil 9% in a single leap, from $13.34 to $14.55, igniting another round of global inflation.
2000 On the same day, technology stocks set a record for industry representation in the Standard & Poor’s 500-stock index, at 34.9%, and Cisco Systems, Inc. becomes the world’s most valuable corporation, with a total market value of $548 billion.

March 4
1902 American Automobile Association, AAA, founded in Chicago
1977 1st CRAY 1 supercomputer shipped, to Los Alamos Laboratories, New Mexico
1991 Bank of Credit and Commerce International divests itself of 1st American Bank

March 5
1558 Smoking tobacco introduced in Europe by Francisco Fernandes
1868 Stapler patented in England by C. H. Gould
1924 Computing-Tabulating-Recording Corp becomes IBM
Agenda