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E-Malt.com Newsletter 14b
April 03 - April 06, 2008
Open!
Click here to get full size Newsletter


Quote of the week

"The way to get started is to quit talking and begin doing."
Walt Disney
Currency Rates
Base Currency: Euro, EUR
on 04-April-2008

1 EUR = 1.5636 USD
1 EUR = 0.7868 GBP
1 EUR = 1.5835 CAD
1 EUR = 1.7105 AUD
1 EUR = 160.277 JPY
1 EUR = 2.701 BRL
1 EUR = 36.9529 RUB
1 EUR = 10.9873 CNY
Base Currency: US Dollar
on 04-April-2008

1 USD = 0.6396 EUR
1 USD = 0.5032 GBP
1 USD = 1.0127 CAD
1 USD = 1.0939 AUD
1 USD = 102.509 JPY
1 USD = 1.7274 BRL
1 USD = 23.6333 RUB
1 USD = 7.0269 CNY
Currency Rates Chart

Equities of the Largest Breweries

Equities of the Largest Breweries

Average Market Prices Change trend

April 04, 2008

Type Crop 2007 Crop 2008
2rs Barley €262.0-264.0 1.13% €261.0-263.0 4.03%
6rw Barley €242.0-244.0 €242.0-244.0 1.22%
2rs Malt €522.0-524.0 0.76% €504.0-506.0 2.60%
6rw Malt €496.5-498.5 €479.5-481.5 0.72%
Feed Barley €185.0-187.0 2.62% 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

Argentina: CCU to acquire beer brands Bieckert, Palermo and Imperial ...Click here
Netherlands & Denmark: Heineken and Carlsberg satisfy antitrust conditions for acquisition of Scottish & Newcastle ...Click here
USA: Modelo's Corona beer suffers U.S. sales decline ...Click here
Latin America: Femsa beer exports unhurt by U.S. slowdown ...Click here
Europe: Domestic malt market calm, prices slightly declined ...Click here
Europe: Malting barley share to increase in UK, Sweden ...Click here
France: Malting barley prices continue to decrease, feed barley market motionless ...Click here
China: Barley imports forecasted to remain around 1.5 million tons in 2008 ...Click here
USA: Sam Adams brewer shares hops with other craft brewers ...Click here




UK: Marston's acquires Refresh UK brewer ...More Info
USA: Miller to launch craft-style Miller Lite beer ...More Info
UK: Beer sales down 8% for Globe Pub Company in first quarter of the year ...More Info
Russia: Russian Railways infringes the interests of Heineken again, Federal Antimonopoly Service said ...More Info
USA: Anheuser-Busch sets up new deal with distributors ...More Info
Bulgaria: Tuborg Lemon beer available in Bulgaria ...More Info
UK: Tadcaster brewery celebrating 250 years ...More Info
India: GM Breweries board recommends 25% dividend ...More Info
Ukraine: Peter Chernyshov is acknowledged as the best manager of the beer industry in Ukraine ...More Info
Kenya: Farmers drop wheat for barley ...More Info
Australia: South Australia and Victorian barley growers share in ‘top up’ pool payments ...More Info
Egypt: The 10th International Barley Genetics Symposium to start on April 5 in Alexandria ...More Info
Go to our news database with more than 12480 articles.
Today with the possibility to be translated in 7 different languages!
DE FR SP IT PT RU CN

Brewery News

Argentina: CCU to acquire beer brands Bieckert, Palermo and Imperial

Argentinean Government authorised the acquisition of beer brands Bieckert, Palermo and Imperial by Chilean group Compañía Cervecerías Unidas (CCU), Cronista reported April 4.

The three brands were into the hands of Brewing Industrial Company (Cicsa), property of the industrialist Ernesto Gutié¬rrez, who had as well bought them from Quilmes.

In order to face this ope¬ration, CCU Argentina received an extraordi¬nary contribution of capital of $85 million.

This transaction also includes a malt plant in Luján.

At the moment, CCU controls 16% of the Argentinean beer market, dominated by InBev-Quilmes and Brahma, with 68%. With the purchase of Bieckert, Palermo and Imperial, the Chilean group adds another 5.8% of market share. The intention of holding is to set up an aggressive plan of growth in order to become a bigger player in Argentina.


Netherlands & Denmark: Heineken and Carlsberg satisfy antitrust conditions for acquisition of Scottish & Newcastle

Heineken and Carlsberg (the “Consortium”) welcome the announcement of the European Commission’s approval of the acquisition of selected S&N assets by Heineken in all EU member states with the exception of the Republic of Ireland, Heineken reported in a press release, April 3. The acquisition by Heineken of S&N’s Irish subsidiary, Beamish & Crawford plc ("B&C"), will be referred to the Irish Competition Authority (“ICA”) for consideration.

Today's announcement follows receipt of approval from the European Commission in respect of the acquisition of selected S&N assets by Carlsberg, the expiry of the applicable antitrust waiting period in the United States, and the receipt of approval from the relevant regulatory authorities in Russia and the Ukraine. The Consortium confirms that the antitrust conditions to the acquisition of S&N by Sunrise Acquisitions Limited (the "Acquisition") have now been satisfied and that the referral to the ICA will not delay completion of the Acquisition. Therefore, the Consortium expects that the effective date of the Acquisition will be 28 April 2008.

Heineken believes that the ICA is well positioned and equipped to conduct such an examination. Heineken has fully briefed the ICA on the terms of the Acquisition and expects that the ICA will reach a ...More Info


USA: Modelo's Corona beer suffers U.S. sales decline

Grupo Modelo SAB, a Mexican brewer, has seen U.S. sales of its Corona Extra beer drop since a price increase last year gave competitors an edge, the Wall Street Journal said, according to Bloomberg, April 3.

Last year, Mexico City-based Modelo shipped 1.7 percent less Corona to the U.S. over the previous year, the newspaper said, citing Beer Marketer's Insights newsletter.

With the economy slowing this year, sales by volume at food, drug and convenience stores have declined 5.9 percent through Feb. 23, the Journal said, citing Nielsen Co. data.

Corona's problems hurt Anheuser-Busch Cos., which owns about half of Grupo Modelo, the newspaper said. Corona's U.S. importer, Crown Imports LLC, raised Corona prices by as much as 5 percent last year, the Journal said.


Latin America: Femsa beer exports unhurt by U.S. slowdown

Femsa, the largest Coke bottler and brewer in Latin America, is not seeing any negative impact on its beer exports to the United States despite the economic slowdown in Mexico's top trading partner, Reuters reported April 3.

Chief Executive Officer Javier Astaburuaga said the company's exports to the U.S. market, where its sells its Sol, Tecate and Dos Equis beers, was "good, favorable and sustained."

Femsa's beer exports, mainly to the United States, jumped 19.3 percent in the fourth quarter of last year.

"Our performance in the U.S. market continues to be pretty positive," Astaburuaga told the Reuters Latin American Investment Summit on Thursday.

Astaburuaga also said Femsa planned to set up its retail store chain, which sells the company's Coca-Cola products and beers alongside snacks, in Colombia over the next 12 to 18 months.

"It is about setting up a base of around 30 stores, it could be a few more or a few less," Astaburuaga said of Oxxo, the largest convenience store chain in Latin America.

Asked if Femsa planned to focus on Bogota or other main cities, Astaburuaga said: "We are not thinking of a model that has a big reach in terms of cities."

Femsa has 5,500 Oxxo stores in Mexico, dotting the ...More Info


Malt News

Europe: Domestic malt market calm, prices slightly declined

EU domestic malt markets have been calm, but nevertheless purchases continued in a slow and unexcited fashion, according to analysts, March 28. At least two of the large brewing groups are rumoured to be well covered for 2009, the others, large, medium and small brewers seem to buy one piece at a time, thereby not driving up malt and barley markets.

As barley markets declined a bit, also malt prices came down from their top levels for the new season, albeit by a few Euros only. In the central Continental region and in the U.K. prices range from EUR 540,- to 560,- delivered breweries, average price for 2009. Sales in Czech and Slovakia have hardly begun, as last year’s experiences of non-fulfilments of barley contracts increased caution of sellers and buyers.


Barley News

Europe: Malting barley share to increase in UK, Sweden

Historically high malting barley prices for the crops 2007 and 2008 induced farmers in a number of countries to plant more barley than last year and also more than earlier planned for this year, analysts have recently reported.

We still do not expect major changes from last year in France and Germany, but as reported earlier, Denmark may plant up to 100.000 HA more, Sweden 50 – 60.000 HA more, the U.K. 50.000 – 70.000 HA more. What may even be more important is the share of malting barley varieties, which will increase from 75 to 85 % in the U.K. and from 30 to 40 % in Sweden.

The Czech and Slovak Republics had forecast a strong reduction of their spring barley plantings after the disappointing crops of last year, but do report different plans by now, Czech about unchanged, Slovakia plus 5%.


France: Malting barley prices continue to decrease, feed barley market motionless

The malting barley market has been disestablished this week with prices which continued to decrease, La Depeche published April 4. Deals have been very limited.

There have been no deals in feed barley this week. The prices were affected by the brutal drop on feed wheat market.


China: Barley imports forecasted to remain around 1.5 million tons in 2008

Chinese barley imports in January/February of this calendar year were 234.000 tons and are forecast to remain around 1,5 Mill. tons for the year, analysts have recently reported.

China uses 8 kilos of malt or even less per HL of beer; it uses more and more local barley and also much wheat. It must import quality barley, though, for its premium beer and expected malt exports of 400.000 tons in 2008.


Hops News

USA: Sam Adams brewer shares hops with other craft brewers

A shortage of a key ingredient in beer has shown that even business competitors can come together over a cold one now and then. Boston Beer Company -- the maker of the Samuel Adams brand -- has agreed to share 20,000 pounds of its hops with craft brewers throughout the country, The Associated Press reported April 2.

A worldwide shortage of hops has left smaller brewers unable to buy the important perennial flower that adds some of the bitterness and aroma to beer.

About six weeks ago Boston Beer sent out notifications to small brewers that it wanted to help them by making available some of its hops at cost. The company said it received 352 requests totaling about 100,000 pounds, but was only able to fill 20 percent of those.

Boston Beer founder Jim Koch says the shortage became acute last year when the hops crop came in below average, the third bad season in a row. He says increased beer consumption has also boosted the demand for hops.

Scientific Digest

A superior prediction of malt attenuation

D.E. Evans1, C. Li2, J.K. Eglinton3 1TIAR, University of Tasmania, Private Bag 54, Hobart, Tasmania, 7001, Australia; 2Dept of Agriculture Western Austraia, 3 Baron-Hay Court, Sth Perth, WA 6151, Australia; 3School of Agriculture and Wine, University of Adelaide, Glen Osmond, SA, 5064, Australia

SUMMARY
Data is presented to support the replacement of the diastatic power (DP) malt specification in favour of the measurement of the DP enzymes (DPE), alpha-amylase, limit dextrinase, beta-amylase, and beta-amylase thermostability. The use of the DPE via a multi-linear regression equation predicts ~90% of variation in malt attenuation compared to <50% of variation by DP alone. The measurement of the individual DPE would most likely have a number of advantages over DP or the time consuming AAL parameter for maltsters and their brewer customers. Firstly, the three DPE determinants of fermentability are independently assessed. This is important information as the ratios of alpha-amylase to limit dextrinase to beta-amylase vary between malt samples from the same variety. Knowledge of the levels of these enzymes would allow maltsters to potentially to blend their malt batches more precisely within or between varieties to balance the levels of DPE to better satisfy brewers fermentability expectations. At very least brewers could be fore warned when a delivery of malt was being made that differed from the specifications desired, thus take steps in the brew house to accommodate such changes. The application of these insights in the brewing industry is predicted to result in substantial improvements in brewing consistency and enable more specific quality targets for barley breeders to be defined.
... Load full article, 12 pages, 566 Kb, PDF file

Malting barley prices.

French Malting Barley Prices. Nominal prices
EURO = USD 1.5636 April 04, 2008 
 Crop year   2007   2008 
 Parity   FOB Creil   FOB Creil 
 Position   July 2007   July 2008 
Type   Variety  EURO  USD  EURO  USD 
2RS  Scarlett  265.00  414.50  264.00  413.00 
2RS  Prestige  264.00  413.00  263.00  411.50 
2RS  Cellar  263.00  411.50  262.00  410.00 
2RS  Sebastien  262.00  410.00  261.00  408.50 
2RS  Astoria  262.00  410.00  261.00  408.50 
2RS  Cork   262.00  410.00  261.00  408.50 
6RW  Esterel   243.00  380.00  243.00  380.00 

French Feed Barley Prices. Nominal prices
EURO = USD 1.5636 April 04, 2008
Crop year 2007
Parity FOB Creil
Position July 2007
Type EURO USD
Feed Barley 186.00 291.00

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

Theoretical malt prices

EURO = USD 1.5636 April 04, 2008
Crop year  2007 
Parity  FOB Antwerp 
Position  Apr 2008 - Sept 2008 
Conditioning  Bulk   In bags  Bulk containers Bags, containers
Malting barley variety  EURO  USD  EURO  USD  EURO  USD  EURO  USD 
2RS  Scarlett  525.50  821.50  549.50  858.50  541.00  846.00  555.50  868.00 
2RS  Prestige  524.50  819.50  548.00  856.50  540.00  844.00  554.00  866.50 
2RS  Cellar  523.00  818.00  546.50  855.00  538.50  842.00  553.00  864.50 
2RS  Sebastien  522.00  816.00  545.50  853.00  537.50  840.50  551.50  862.50 
2RS  Astoria  522.00  816.00  545.50  853.00  537.50  840.50  551.50  862.50 
2RS  Cork   522.00  816.00  545.50  853.00  537.50  840.50  551.50  862.50 
2RS   Average price  523.00  818.00  546.50  855.00  538.50  842.00  553.00  864.50 
6RW  Esterel   497.50  779.50  522.00  816.50  514.00  803.50  528.50  826.00 
Asia Malt 70/30  515.50  806.50  539.50  843.50  531.50  830.50  545.50  852.50 
**  Asia Malt 50/50  511.00  798.50  534.50  835.50  526.50  823.00  540.50  845.00 


EURO = USD 1.5636 April 04, 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  507.50  793.00  531.00  830.00  523.00  817.50  537.00  839.50 
2RS  Prestige  506.00  791.50  529.50  828.50  521.50  815.50  536.00  837.50 
2RS  Cellar  505.00  789.50  528.50  826.50  520.50  813.50  534.50  835.50 
2RS  Sebastien  503.50  787.50  527.50  824.50  519.00  811.50  533.50  834.00 
2RS  Astoria  503.50  787.50  527.50  824.50  519.00  811.50  533.50  834.00 
2RS  Cork   503.50  787.50  527.50  824.50  519.00  811.50  533.50  834.00 
2RS   Average price  505.00  789.50  528.50  826.50  520.50  813.50  534.50  835.50 
6RW  Esterel   480.50  752.50  505.00  789.50  497.00  777.00  511.50  799.50 
Asia Malt 70/30  498.00  778.50  521.50  815.50  513.50  802.50  527.50  824.50 
**  Asia Malt 50/50  493.00  771.00  517.00  808.00  508.50  795.50  523.00  817.50 

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

Table of the week

EU Malt Export Licence Fixations

(in tonnes) 2004-2005 2005-2006 2006-2007 July 01, 2007 -
March 25, 2008  
 France   674,140  648,338  460,829  262,846 
 Germany   295,876  236,735  239,633  277,714 
 Belgium   418,344  551,396  531,606  418,802 
 Bulgaria   1,270  2,220 
 U.K. 201,892  190,862  114,156  90,033 
 Finland   64,986  79,357  70,783  45,950 
 Denmark    74,743  68,809  72,374  74,560 
 Sweden   78,369  96,100  90,550  92,700 
 Netherlands   49,128  92,383  78,754  69,756 
 Ireland   56,924  7,001  2,250 
 Italy  181  2,352 
 Austria   16,954  38,932  22,743  5,913 
 Spain  
 Romania   500 
 Portugal   850  1,088  992  272 
 Czech Republic   82,062  77,036  41,769  18,660 
 Poland   167-  2,025 
 Hungary   85,792  16,865  5,474  2,215 
 Slovakia   76,916  75,863  23,157  9,725 
 Lithuania  54  172  1,185 
 Total EU   2,219,661  2,180,986  1,756,691  1,377,427 

  Total Wheat malt, tonnes  
Total 2004 - 2005  8,162 
Total 2005 - 2006  4,693 
Total 2006 - 2007  5,404 
July 01, 2007 - March 25, 2008  5,881 
   
  Total Roasted malt, tonnes  
Total 2004 - 2005  27,212 
Total 2005 - 2006  23,257 
Total 2006 - 2007  30,084 
July 01, 2007 - March 25, 2008  20,062 
Graph Of The Week



These Days in Business History

March 31
1889 300m Eiffel Tower officially opens, commemorates French Revolution
1896 Whitcomb Judson, Chicago, patents a hookless fastening, also know as the zipper
1917 U.S. purchases Danish West Indies for $25M and renames them Virgin Islands

April 1
1778 Oliver Pollock, a New Orleans businessman, creates "$" symbol
1826 Samuel Mory patents internal combustion engine
1986 World oil prices dip below $10 a barrel

April 2
1850 City of Los Angeles incorporated
1875 Walter P. Chrysler is born in Wamego, Kansas. He goes on to found the Chrysler Corp. as successor corporation to the failing Maxwell Motor Car Co. in 1925 and to buy Dodge Brothers, Inc., in 1928.
1961 The first patent for an integrated circuit is awarded to Fairchild Semiconductor’s Robert Noyce, who later co-founds Intel Corp. with Gordon Moore.
Agenda