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E-Malt.com Newsletter 15b
April 10 - April 13, 2008
Open!
Click here to get full size Newsletter


Quote of the week

"If you don't drive your business, you will be driven out of business."
B. C. Forbes
Currency Rates
Base Currency: Euro, EUR
on 11-April-2008

1 EUR = 1.5824 USD
1 EUR = 0.8006 GBP
1 EUR = 1.6116 CAD
1 EUR = 1.6984 AUD
1 EUR = 160.121 JPY
1 EUR = 2.6683 BRL
1 EUR = 37.1483 RUB
1 EUR = 11.0788 CNY
Base Currency: US Dollar
on 11-April-2008

1 USD = 0.632 EUR
1 USD = 0.5059 GBP
1 USD = 1.0184 CAD
1 USD = 1.0732 AUD
1 USD = 101.194 JPY
1 USD = 1.6862 BRL
1 USD = 23.4752 RUB
1 USD = 7.001 CNY
Currency Rates Chart

Equities of the Largest Breweries

Equities of the Largest Breweries

Average Market Prices Change trend

April 09, 2008

Type Crop 2007 Crop 2008
2rs Barley €251.0-253.0 1.95% €259.0-261.0 0.76%
6rw Barley €225.0-227.0 5.04% €233.0-235.0 2.09%
2rs Malt €508.5-510.5 1.16% €501.5-503.5 0.50%
6rw Malt €475.5-477.5 3.05% €468.5-470.5 1.26%
Feed Barley €183.0-185.0 1.08% 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

Philippines: San Miguel Brewery Q1 2008 net profit up 37% on higher sales ...Click here
India: Carlsberg strengthens India operations and opens 2 more breweries ...Click here
Japan: Asahi leads beer, quasi-beer market in January-March 2008 ...Click here
Switzerland: Heineken announces intention to acquire Eichhof Holding’s beverage division in Switzerland ...Click here
Romania: Ursus, Timisoreana and Bergenbier, best-selling beer brands ...Click here
Madagascar: Phoenix Beverage to build a 17.5 million euro brewery ...Click here
Peru: AmBev launches new beer exclusively for Peru ...Click here
France: Malting barley market atonic, prices slide down ...Click here
World: Feed barley use dropped by 7 million tons this crop year ...Click here




UK: Cains Beer Company makes loss of £2.8 million over 14 months, still optimistic about its prospects ...More Info
Nigeria: Consolidated Breweries counts gains, applauds distributors ...More Info
Philippines: San Miguel shrunk the price range for its domestic beer unit's IPO by 29% ...More Info
UK: Edinburgh's last remaining brewery will come under Dutch ownership by the end of this month following the S&N deal ...More Info
USA: Coors to expand Blue Moon seasonals by introducing a pale ale beer – Pale Moon ...More Info
UK: The beer slump means pubs will disappear ...More Info
USA & UK: SABMiller and Molson Coors name two executives to key positions in the MillerCoors joint venture ...More Info
USA: Labatt adds Buffalo to beer label ...More Info
UK: Scotland's biggest beer festival comes of age in Paisley ...More Info
Swaziland: SABMiller invited to partner with Swaziland for 2010 Football World Cup ...More Info
USA: Heineken USA celebrates 75th anniversary as first imported beer to hit shores at the end of prohibition ...More Info
UK: Tuborg beer to sponsor more music festivals ...More Info
Australia: South Australian and Victorian barley growers share in the distribution of top up payments for 2007/2008 barley select pools ...More Info
Belarus: Spring malting barley crop expected to reach 150.000 tones this year ...More Info
India: Barley futures slightly higher on some demand from domestic brewers ...More Info
Go to our news database with more than 12529 articles.
Today with the possibility to be translated in 7 different languages!
DE FR SP IT PT RU CN

Brewery News

Philippines: San Miguel Brewery Q1 2008 net profit up 37% on higher sales

San Miguel Corp. said its brewery unit posted a 37-percent increase in net profit for the first quarter on the back of higher sales and continued cost management efforts, Inquirer reported April 11.

San Miguel Brewery Inc.'s quarterly net profit stood at P2.5 billion ($60 million), with sales up 13 percent at P12.3 billion, San Miguel said in a statement.

Sales volume grew 18 percent and operating profit expanded 35 percent to P3.7 billion.

The results immediately followed an announcement that SMBI, which has a share of about 93 percent of the domestic beer market, has lowered the top end of the indicative price range for its initial public offering.

The indicative offer price now ranges between P8.00 and P11.00 per share, narrower compared to the previous range of P8.00 to P15.40, said Eduardo Francisco, president of underwriter BDO Capital and Investment Corp.

"We did some pre-marketing and there is strong demand within that range. Hopefully, there will be no more price adjustments," he told reporters. It was the second time the indicative price range of the IPO had been adjusted. In an initial filing, SMBI said it was looking to sell up to 1.5 billion shares at between P9.50 and P16.30 per share.

SMBI will ...More Info


India: Carlsberg strengthens India operations and opens 2 more breweries

Carlsberg's joint venture South Asia Breweries strengthens its operations in India via the addition of two more Greenfield breweries, one in Maharashtra (West India) and one in West Bengal (East India), according to company’s press release, April 10.

Both breweries are planned to commence production during Q2 this year.

The brewery in Maharashtra is located in Aurangabad near Mumbai. This plant is almost identical to the greenfield plant in Rajasthan, and will have an initial licensed capacity of 500.000 hl.

The brewery in West Bengal is located near Kolkata, and is part of a joint venture between South Asia Breweries (60%) and local partners from West Bengal lead by Mr. Parag Mitra and Mr. Debasis Mukherjee. This plant will have an initial capacity of 120,000 hl, however with significant possibilities for expansion.

As planned, the greenfield brewery in Alwar, in Rajasthan, commenced production and deliveries in Q1 this year.

The fourth brewery owned by South Asia Breweries is located in the state of Himachal Pradesh north of the Indian capital of New Delhi. This brewery launched production of Carlsberg Group brands last summer and it has a capacity of 150.000 hl with possibilities for expansion.

The portfolio of the four breweries includes a number of brands ...More Info


Japan: Asahi leads beer, quasi-beer market in January-March 2008

Asahi Breweries Ltd. captured the top position in beer and quasi-beer shipments in Japan in January-March, according to data released by major beer producers, Jiji Press reported April 10.

Asahi, which raised the prices of its beer and beer-like drinks in March, saw its shipments fall 2.8 pct from a year before to 35,050,000 cases in the period.

Shipments by Kirin Brewery Co., which raised its product prices in February, dropped 6.9 pct to 33,998,000 cases.

As a result, Asahi's market share came to 37.0 pct, against 35.9 pct for Kirin, which ranked second in January-March shipments. One cases contains the equivalent of 20 633-milliliter bottles.

Shipments by Sapporo Breweries Ltd., which hiked its product prices this month, fell 0.9 pct to 12,631,000 cases. It ranked third with a market share of 13.3 pct.

Suntory Ltd. saw its shipments increase 8.6 pct to 12,080,000 cases with a market share of 12.8 pct. The company raised the prices of its restaurant-use barreled and bottled beer products this month while keeping the prices of other products unchanged.

Overall domestic shipments of beer and quasi-beer products came to 94,685,000 cases in January-March, down 2.6 pct from a year earlier, according to data released by the Brewery Association of Japan ...More Info


Switzerland: Heineken announces intention to acquire Eichhof Holding’s beverage division in Switzerland

Heineken N.V. announced the intended acquisition of the beverage division of Eichhof Holding AG in Lucerne, Switzerland, in a press release, April 10. The intended transaction will strengthen Heineken's number two position in the market, giving the company an estimated, combined market share of 23%.

The beverage division of Eichhof Holding comprises the production and distribution of beers, non-alcoholic beverages and wine and employs approximately 450 staff. The company is the owner of the Eichhof brewery in Lucerne, which has a production capacity of 400,000 hectolitres and 2007 domestic beer sales volumes of 361,000 hectolitres. Its main brand, Eichhof, is the leading mainstream beer in the Lucerne region. The company has an estimated 10% market share of the Swiss beer market. Soft drinks and wine account for 45% of total volumes. The purchase price is CHF 278.5 million (EUR 176 million) or CHF 1657.30 for every Eichhof Getränke Holding share. The enterprise value is CHF 290 million, corresponding to a multiple of 12 times 2007 EBITDA, implying a significant premium to the sector average. The acquisition will be funded from existing credit facilities and will be earnings enhancing in 2009 and value enhancing in 2010. The intended acquisition will be ...More Info


Romania: Ursus, Timisoreana and Bergenbier, best-selling beer brands

The best-selling beer brands in hotels, restaurants and outdoor restaurants are domestic brands Ursus, Timisoreana and Bergenbier, with the first two included in the portfolio of Ursus Breweries, while the third is part of InBev Romania, according to a survey conducted by MEMRB market research firm, Ziarul Financiar published April 11.

The on-premise segment annually generates over 30% of total beer sales, namely 5.8m euros.

Ursus, the best-selling beer on this segment, holds a 15% share of the on-premise market, closely followed by Timisoreana, which held a 14.2% share between December 2007-February 2008, according to representatives of Ursus Breweries, which rank second on the market.

"The on-premise channel is very important, not only in terms of sales, but also in terms of the company's image and brand. (...) We have solid results on the on-premise segment and we'll make further investments, because we consider it to be the channel where brand image is best built," stated Mihai Barsan, a group mainstream and economy brand manager of Ursus Breweries, which derived turnover worth above 185m euros in 2006.

Club owners also see consumption in this type of locations as an important boost for their image.

The results Ursus posted on the on-premise segment last year are ...More Info


Madagascar: Phoenix Beverage to build a 17.5 million euro brewery

Mauritanian group Phoenix Beverages will invest 17.5 million euros to build a brewery in partnership with a Belgian company, G4S reported April 11.

The new brewery will start production next year. All the production will be designated for local market.

Phoenix Beverages is also operating in Sri Lanka but the capacity of that brewery is lower and the market conditions are more difficult.


Peru: AmBev launches new beer exclusively for Peru

AmBev Peru, one of the country's leading beer companies and the producer of Brahma, has announced the launch of a new alcoholic drink in the country, exclusively made for Peruvians, Living in Peru reported April 10.

It was announced that the new beer will only be made and sold in Peru. The name of AmBev's new product has not been announced yet.

According to El Comercio, Peruvians will now have an even greater variety of beers to choose from. Since Aje, a Lima-based corporation, entered the beer market there has been a greater variety of products, said El Comercio.

The formula was developed by InBev's best and most-qualified specialists, said Cristiano Sampaio, the general manager of AmBev Peru.

With the release of this new beer, AmBev is diversifying the products it is offering in Peru. It was reported that the company did not rule out launching a third brand in the near future.

"Brahma and the new beer will stay on the market. We'll see, depending on how things go, if we bring more of InBev's international brands," said Sampaio.

AmBev's new beer is to be launched before the end of April.


Barley News

France: Malting barley market atonic, prices slide down

Malting barley market has bee atonic this week with almost no malsters interested in purchasing barley, La Depeche reported April 11. The prices continue to decrease.

On feed barley market the situation seems to be the same, with no interest from buyers and prices which go down. The exports are also calm.


World: Feed barley use dropped by 7 million tons this crop year

As per IGC figures the use of barley for feed dropped by 7 million tons worldwide during the present crop year, because prices were substantially higher than maize and sorghum in the first 7 to 8 months of the season, analysts have recently reported. But barley stocks remain very tight anyway, because imports of the deficit countries will only drop from 15.4 to 14.8 mil tons (IGC).

Russia virtually prohibits barley exports by an export tax of 30 %, the Ukraine had not exported at all until February and has now increased its permitted export quota to 900.000 tons, but shipments to-date are no more than 200.000 tons. All other exporters, Canada, USA, EU, Australia and Kazakhstan had to make up for the gap left by Russia and Ukraine.

Scientific Digest

Biochemistry and Molecular Biology of Arabinoxylan Metabolism in Germinated Barley

Robert Lee, Maria Hrmova, Rachel Burton and Geoffrey Fincher Department of Plant Science, The University of Adelaide, Waite Road, Urrbrae S.A. 5064.

Introduction
Following water uptake and germination of a barley grain, hydrolytic enzymes that are mainly secreted from the scutellar epithelial layer and the aleurone layer, catalyse the depolymerization of starch and protein reserves in the starchy endosperm. Degradation products are subsequently absorbed by the scutellum and translocated to the developing seedling. During commercial malting operations, barley grain is steeped in water and germinated under conditions designed to maximise the modification of the starchy endosperm, but to minimise vegetative growth of the young seedling (Bamforth and Barclay, 1993; Briggs et al., 1981). In both processes enzymic degradation of cell walls in the starchy endosperm is crucial. Because most of the key enzymes are secreted from the aleurone layers, the walls of starchy endosperm cells represent a physical barrier which denies the enzymes free access to their substrates within starchy endosperm cells. As a result, the rapid early removal of the cell wall is of central importance both for the successful germination of the grain (Fincher, 1989) and for the production of a well-modified malt (Bamforth and Barclay, 1993).
... Load full article, 6 pages, 82 Kb, PDF file

Malting barley prices.

French Malting Barley Prices. Nominal prices
EURO = USD 1.5824 April 11, 2008 
 Crop year   2007   2008 
 Parity   FOB Creil   FOB Creil 
 Position   July 2007   July 2008 
Type   Variety  EURO  USD  EURO  USD 
2RS  Scarlett  254.00  402.00  262.00  414.50 
2RS  Prestige  253.00  400.50  261.00  413.50 
2RS  Cellar  252.00  399.00  260.00  411.50 
2RS  Sebastien  251.00  397.50  259.00  410.00 
2RS  Astoria  251.00  397.50  259.00  410.00 
2RS  Cork   251.00  397.50  259.00  410.00 
6RW  Esterel   226.00  358.00  234.00  370.50 

French Feed Barley Prices. Nominal prices
EURO = USD 1.5824 April 11, 2008
Crop year 2007
Parity FOB Creil
Position July 2007
Type EURO USD
Feed Barley 184.00 291.50

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

Theoretical malt prices

EURO = USD 1.5824 April 11, 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  512.00  810.00  535.50  847.50  527.50  834.50  541.50  857.00 
2RS  Prestige  511.00  808.50  534.50  845.50  526.50  833.00  540.50  855.50 
2RS  Cellar  509.50  806.50  533.50  843.50  525.00  831.00  539.50  853.50 
2RS  Sebastien  508.50  804.50  532.00  841.50  524.00  829.00  538.00  851.50 
2RS  Astoria  508.50  804.50  532.00  841.50  524.00  829.00  538.00  851.50 
2RS  Cork   508.50  804.50  532.00  841.50  524.00  829.00  538.00  851.50 
2RS   Average price  509.50  806.50  533.50  843.50  525.00  831.00  539.50  853.50 
6RW  Esterel   476.50  755.50  501.50  793.00  493.00  780.50  507.50  802.50 
Asia Malt 70/30  500.00  791.00  523.50  828.50  515.50  815.50  529.50  838.00 
**  Asia Malt 50/50  493.50  781.00  517.50  818.50  509.00  805.50  523.50  828.00 


EURO = USD 1.5824 April 11, 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  505.00  798.50  528.50  836.50  520.50  823.50  534.50  846.00 
2RS  Prestige  503.50  797.00  527.50  834.50  519.00  821.50  533.50  844.00 
2RS  Cellar  502.50  795.00  526.00  832.50  518.00  819.50  532.00  842.00 
2RS  Sebastien  501.00  793.00  525.00  830.50  516.50  817.50  531.00  840.00 
2RS  Astoria  501.00  793.00  525.00  830.50  516.50  817.50  531.00  840.00 
2RS  Cork   501.00  793.00  525.00  830.50  516.50  817.50  531.00  840.00 
2RS   Average price  502.50  795.00  526.00  832.50  518.00  819.50  532.00  842.00 
6RW  Esterel   469.50  744.50  494.00  781.50  486.00  769.00  500.00  791.50 
Asia Malt 70/30  493.00  779.50  516.50  817.00  508.50  804.50  522.50  826.50 
**  Asia Malt 50/50  486.50  769.50  510.00  807.00  502.00  794.00  516.00  816.50 

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

German Beer Market Overview

  2001  2002  2003  2004  2005  2006  2007 
Number of Brewers  1,298  1,289  1,275  1,281  1,281  1,289  1,302 
Beer sales, in mln hl  107.80  107.80  105.60  105.90  105.40  106.80  103.90 
Beer Exports, in mln hl  10.84  11.06  12.09  13.69  13.86  14.90  15.44 
Beer Imports, in mln hl  3.81  3.31  3.07  4.40  5.41  5.60  6.43 
Beer Consumption, in mln hl  114.84  115.55  114.63  115.19  113.85  116.09  112.91 
Source: German Brewers Association
Graph Of The Week



These Days in Business History

April 7
1348 Prague University, 1st university in central Europe, formed by Charles IV
1902, Texaco, Oil Company forms
1948 World Health Organization forms by U.N.

April 8
1862 John D. Lynde patents aerosol dispenser
1904 John R Hicks is born, British economist (Nobel 1972)

April 9
1799 Income Tax introduced in UK
2007 Apple Computer unveils the revolutionary iPhone

April 10
1790 U.S. Patent system forms
1930 Synthetic rubber 1st produced
1956 Philips broadcasts 1st Dutch color TV programs

April 11
1929 Loetafoon celluloid film system demonstrated in Amsterdam
1992 Euro-Disney opens near Paris
1994 Software programmer Marc Andreesen, then 22 years old, and venture capitalist Jim Clark, the co-founder of Silicon Graphics Inc., found Mosaic Communications Corp.

April 12
1903 Jan Tinbergen is born, Dutch economist and U.N. advisor, Nobel 1969
1905 French Dufaux brothers test helicopter
1996 One of the first companies ever to go public with an exclamation point in its name, Yahoo! Inc., launches its IPO on NASDAQ, selling 2.6 million shares at an initial price of $13 a share.

April 13
1785 John Walter publishes 1st issue of London Times
1888 National Geographic Society founded in Washington, D.C.
1942 Henry Ford patents a method of constructing plastic auto bodies
Agenda