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E-Malt.com Newsletter 21b
May 21 - May 25, 2008
Open!
Click here to get full size Newsletter


Quote of the week

"Any plan conceived in moderation must fail when the circumstances are set in extremes."
Clemens Metternich
Currency Rates
Base Currency: Euro, EUR
on 22-May-2008

1 EUR = 1.5709 USD
1 EUR = 0.7986 GBP
1 EUR = 1.5528 CAD
1 EUR = 1.6349 AUD
1 EUR = 162.407 JPY
1 EUR = 2.5957 BRL
1 EUR = 37.1043 RUB
1 EUR = 10.9495 CNY
Base Currency: US Dollar
on 22-May-2008

1 USD = 0.6366 EUR
1 USD = 0.5084 GBP
1 USD = 0.9885 CAD
1 USD = 1.0408 AUD
1 USD = 103.393 JPY
1 USD = 1.6524 BRL
1 USD = 23.6205 RUB
1 USD = 6.9704 CNY
Currency Rates Chart

Equities of the Largest Breweries

Equities of the Largest Breweries

Average Market Prices Change trend

May 22, 2008

Type Crop 2007 Crop 2008
2rs Barley nq   €237.0-239.0 1.65%
6rw Barley nq   €217.0-219.0 1.80%
2rs Malt €527.0-529.0 0.38% €478.5-480.5 1.03%
6rw Malt €494.0-496.0 0.41% €452.5-454.5 1.09%
Feed Barley €166.0-168.0 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

Belarus: Heineken acquires Rechitsa brewery in Belarus ...Click here
China: China Resources Enterprise increased beer sales by 11% in Q1 2008 ...Click here
Czech Republic: Brewery Staropramen more than doubles profit in 2007 on record beer sales ...Click here
Romania: Ursus Breweries sales up 28% in FY 2007 ...Click here
Vietnam: New 500,000 hectolitres brewery operational in Thanh Hoa ...Click here
Russia & Canada: Baltika Brewery increases export deliveries to Canada ...Click here
Australia: A record 4.8 million ha of barley will be sown this year ...Click here
France: Malting barley market in expectation, feed barley motionless ...Click here
Europe: Barley crop in EU-27 forecasted at 59.5 million tonnes ...Click here
World: Barley crops threatened in Turkey, Cyprus, Syria and Iraq ...Click here
Czech Republic: Hop acreage reached 5345 ha in 2008, almost unchanged from previous ...Click here




Uganda: Nile Breweries grows by 4% in three years, plans to invest $20 million in 2008 ...More Info
China: Yanjing Brewery share sale to raise 1.5-2 billion yuan ...More Info
India: Beer market ready for new low alcohol content and fruit-flavored beers ...More Info
USA: Miller Brewing to roll out new light beer in Portland ...More Info
USA: Molson Coors awaits approval for SAB Miller merger ...More Info
Austria & Switzerland: Beer more expensive in Austria than in Switzerland with only 2 weeks till European Football Championship ...More Info
USA: Molson Coors Brewing Company raises its dividend by 25% ...More Info
Turkey: Efes Beverage Group Anadolu Efes announces changes in the board of directors ...More Info
Canada: Big Rock Brewery Income Trust announces monthly distribution ...More Info
UK: Whitstable Bay Premium Ale makes its annual appearance as a seasonal guest beer ...More Info
USA: Bass Hall director moving to San Antonio brewery complex post ...More Info
USA: Deschutes Brewery raises more than $12,000 for clean rivers ...More Info
India: Carlsberg and Tiger beer manufacturers are said to be exploring tie-ups with Pepsi ...More Info
India: Barley futures hit highs on demand from the domestic malt-makers ...More Info
Go to our news database with more than 12787 articles.
Today with the possibility to be translated in 7 different languages!
DE FR SP IT PT RU CN

Brewery News

Belarus: Heineken acquires Rechitsa brewery in Belarus

Heineken N.V. announced that it is to acquire the Rechitsa brewery, strengthening Heineken’s number two position in the fast growing Belarus market giving the company a production share of 24%, according to company’s press release, May 22.

Under the terms of the transaction, Heineken has agreed to invest US$ 9.9 million (EUR 6.4 million) in an increase in the share capital of Rechitsa, ultimately leading to a 51% share in the company. The transaction is to be financed from existing credit facilities and will be immediately earnings enhancing and value enhancing in 2010. The proposed acquisition is subject to regulatory approvals.

In 2007, Rechitsa sold 285,000 hectolitres, equating to a national production share of 8%. The brewery, has a technical capacity of 525,000 hectolitres, employs 588 staff and is located in the city of Rechitsa in South Eastern Belarus, 280 km from Minsk. The business also operates a maltery, with a capacity of 10,000 tons. The portfolio consists of the mainstream beer brand Rechitsa and its 6 sub brands, the economy brand Dneprovska and a newly launched premium brand, BergG, which has three variants.

Nico Nusmeier, Regional President Central and Eastern Europe, Heineken N.V. commented: “Following the acquisition of Syabar in December 2007, ...More Info


China: China Resources Enterprise increased beer sales by 11% in Q1 2008

China Resources Enterprise, Limited (‘The Company’ or together with its subsidiaries, ‘The Group’) announced its unaudited quarterly financial and operational review for the three months ended 31 March 2008, in a press release, May 22. Profit attributable to the Company’s shareholders amounted to HK$639 million. Excluding the after-tax effect of revaluation of investment properties and major disposals, underlying net profit for the current quarter would have increased by 4% driven by the 45% growth of the core consumer-related businesses.

Sales volume of beer increased by 11% to 13 million hectolitres. The national brand, SNOW, expanded its sales volume further to 10.7 million hectolitres, up 30%, consolidating its position as the single largest beer brand on the mainland and one of the leading brands in the world. The first quarter of a year is typically a low season for the brewery business and there were initial losses incurred by the new breweries. The overall slightly higher gross margin and steady sales volume growth helped reduce net loss to HK$32 million from HK$35 million, paving solid platform for the imminent peak beer sale seasons. Earnings contribution of purified water operation surged by 333% to HK$13 million driven by a substantial sales volume ...More Info


Czech Republic: Brewery Staropramen more than doubles profit in 2007 on record beer sales

Czech brewery Pivovary Staropramen more than doubled profit to Kc578.4m last year from Kc231.3m in 2006, and raised revenues from Kc3.56bn to Kc3.75bn, the company says in an invitation to its general meeting, according to CTK, May 22.

Beer sales excluding foreign licence production rose by 5.9 percent to a record 3.24 million hectolitres. Sales on the Czech market added 4.7 percent to 2.55 million hectolitres, while sales abroad increased to 1.54 million hectolitres of which 687,000 hectolitres was net exports and 849,000 hectolitres licence production.

Pivovary Staropramen is the second largest Czech brewery and the second largest Czech beer exporter. It covers roughly 15 percent of the domestic market and exports its Staropramen beer to 30 countries. The company is a unit of InBev, the largest beer producer in the world.


Romania: Ursus Breweries sales up 28% in FY 2007

SAB Miller Romania sold 5 million hectolitres of beer in the financial year that ended 31 March, up by 28% y/y, thus securing the most substantial progress of all the European markets, Bursa reported May 16.

Revenues advanced 25%, whereas the market share gained 3.5% to a sound 25.4%. The group"s business in Europe delivered another excellent performance, with organic lager growth of 8%, and EBITA growth of 15% in organic constant currency and 30% on a reported basis. Strong volume growth in Poland, Romania and Russia was complemented by market share gains in several countries. Timisoreana spearheaded sales on the Romanian market following the introduction of a PET packaging. The volume progress reached 43%, whereas revenues gained 51% for Timisoreana. The Ursus Premium brand maintained its leadership in the premium segment, with 8% growth, and has increased penetration in upscale on-premise outlets. All brands benefited from better point of sale execution and a new distributor incentive scheme, with intensive display and tailored service packages in all channels. Current capacity expansions will bring overall capacity to 6.8 million hl. The overall Romanian market advanced 9% amid an increase in the average revenue per ...More Info


Vietnam: New 500,000 hectolitres brewery operational in Thanh Hoa

Thanh Hoa – Nghi Son Brewery Joint Stock Company on May 19 officially launched the operation of Nghi Son Brewery Plant in Nghi Son Economic Zone in Tinh Gia district, Thanh Hoa province, Nhan Dan Online reported May 20.

The new brewery plant has a capacity of 50 million litres a year. Total investment for the plant is put at VND 210 billion. The plant is equipped with modern equipment from Germany and Japan.

The plant’s products in the initial period are draught beer, PET beer and bottled beer.

Thanh Hoa - Nghi Son Brewery Joint Stock Company will increase investment to expand production and produce canned beer and other products of competitive advantages.


Russia & Canada: Baltika Brewery increases export deliveries to Canada

OJSC "Brewing Company "Baltika" increases export deliveries to Canada, according to the media, May 21.

Beer "Baltika N 3 Classical" will be delivered in two provinces of Canada: British Columbia and Albert which population makes more than 7mln persons.

"Baltika" delivers production to Canada since 2003. Earlier "Baltika N 3" was exported only to the province of Ontario. Today beer of this mark in glass bottles of 0.5l is presented in the largest network of alcoholic supermarkets of Canada - LCBO.

"Baltika" since 1996 is the leader of the Russian brewing market, owns 10 breweries and 3 malt enterprises in 9 regions of Russia. The basic shareholder is Baltic Beverages Holding AB (BBH) which owns 86.32 % in the authorized capital of "Baltika" and 91.48 % of voting shares. In 2006 "Baltika" united with companies "Vena", "Pikra" and "Yarpivo".


Barley News

Australia: A record 4.8 million ha of barley will be sown this year

Australia will plant a record area of barley this year, ProFarmer Australia said, according to Bloomberg, May 21.

Barley plantings may gain 11 percent, Richard Koch, managing director of the Perth- based forecaster said.

Grain growers in Australia are planting bigger crops to benefit from higher prices and replenish incomes depleted by years of drought. An increase in output in Australia may ease a global food crisis that's spurred riots from Haiti to Egypt.

The nation may sow a record 4.8 million hectares of barley, up from the previous record of 4.6 million hectares in 2004-05, ProFarmer said.

Australian grain growers rely on rain at this time of the year to sow winter grain crops for harvest starting about October.


France: Malting barley market in expectation, feed barley motionless

The malting barley market is in expectation this week with the operators assured by the good crop development both for winter and spring barley, La Depeche published May 22. The quotations were lower following the prices for other cereals.

Feed barley market was motionless this week. The operators have registered only several coverage operations. The prices decreased.


Europe: Barley crop in EU-27 forecasted at 59.5 million tonnes

Coceral had forecast a barley crop of 59.5 million tonnes vs. 57.5 million tonnes in 2008 for the EU-27, of which 31.2 million tonnes (last year 32.0) spring barley, the analysts have recently reported.

Recent estimates of spring barley acreage and production in the more important producer countries have been collected from trade and industry, except for Finland, Poland and Spain, for whom we took the Coceral figures:

Czech Republic 1450 tonnes, Denmark 2800 tonnes, Finland 1972 tonnes, France 3000 tonnes, Germany 2400 tonnes, Poland 3328 tonnes, Spain 6988 tonnes, Sweden 1600 tonnes, U.K. 3000 tonnes.


World: Barley crops threatened in Turkey, Cyprus, Syria and Iraq

A bad drought area is the Eastern Mediterranean and the Arab Peninsula. Barley crops are threatened in Turkey, Cyprus, Syria and Iraq, according to analysts.

Grazing is poor in Saudi Arabia. Import demand in this part of the world will be larger than usual.


Hops News

Czech Republic: Hop acreage reached 5345 ha in 2008, almost unchanged from previous

According to the report of Central Institute for Supervising and Testing in Agriculture, department for hops, the total acreage of hops in the Czech Republic is 5345 ha for the year 2008, which is only a very slight change from the last year acreage of 5389 ha, Hops Growers Union of Czech Republic published May 20. The major variety is still SAAZ fine aroma hops with 88,8 % of the total acreage.

Compare to the previous year there was an increase of the variety Premiant and variety Sladek and a slight decrease of the Saaz variety, mainly in the Saaz and Auscha hop growing regions. The positive news is that compare to the previous years there was more new plantings of the Saaz variety and we foresee that this trend will continue. There was even an increase of the acreage of the Saaz variety in the Tirschitz hop growing region.

Scientific Digest

Optimal Beer Fermentation

W. Fred Ramirez and Jan Maciejowski

Abstract
J. Inst. Brew. 113(3), 325–333, 2007. A new tool was developed to solve a wide range of optimal beer fermentation problems. Using a mathematical model of beer fermentation, the direct dynamic optimization technique of sequential quadratic programming was investigated for determining the optimal cooling policy to maximize ethanol production for a fixed final time, including effects that optimize flavor. The new tool is very efficient for determining optimal cooling strategies. New control strategies were found that increase ethanol production while decreasing the deleterious effects of fusel alcohols and keeping the acetaldehyde concentrations at moderate levels. Model parameter sensitivity was investigated and it was shown that the system could be regulated successfully around optimal temperature profiles. Key words: Dynamic optimization, fermentation, mathematical modeling, optimal flavor. ... Load full article, 9 pages, 1153 Kb, PDF file

Barley Prices

French Malting Barley Prices. Nominal prices
EURO = USD 1.5709 May 22, 2008 
 Crop year   2007   2008 
 Parity   FOB Creil   FOB Creil 
 Position   July 2007   July 2008 
Type   Variety  EURO  USD  EURO  USD 
2RS  Scarlett  nq  nq  240.00  377.50 
2RS  Prestige  nq  nq  239.00  375.50 
2RS  Cellar  nq  nq  238.00  374.00 
2RS  Sebastien  nq  nq  237.00  372.50 
2RS  Astoria  nq  nq  237.00  372.50 
2RS  Cork   nq  nq  237.00  372.50 
6RW  Esterel   nq  nq  218.00  342.50 

French Feed Barley Prices. Nominal prices
EURO = USD 1.5709 May 22, 2008
Crop year 2007
Parity FOB Creil
Position July 2007
Type EURO USD
Feed Barley 167.00 262.50

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

Theoretical Malt Prices

EURO = USD 1.5709 May 22, 2008
Crop year  2007 
Parity  FOB Antwerp 
Position  May 2008 - Sep 2008 
Conditioning  Bulk   In bags  Bulk containers Bags, containers
Malting barley variety  EURO  USD  EURO  USD  EURO  USD  EURO  USD 
2RS  Scarlett  530.50  833.50  554.50  870.50  546.00  858.00  560.50  880.00 
2RS  Prestige  529.50  831.50  553.00  868.50  545.00  856.00  559.00  878.00 
2RS  Cellar  528.00  829.50  552.00  866.50  543.50  854.00  558.00  876.50 
2RS  Sebastien  527.00  827.50  550.50  865.00  542.50  852.00  556.50  874.50 
2RS  Astoria  527.00  827.50  550.50  865.00  542.50  852.00  556.50  874.50 
2RS  Cork   527.00  827.50  550.50  865.00  542.50  852.00  556.50  874.50 
2RS   Average price  528.00  829.50  552.00  866.50  543.50  854.00  558.00  876.50 
6RW  Esterel   495.00  779.50  520.00  816.50  511.50  803.50  526.00  826.00 
Asia Malt 70/30  518.50  814.50  542.50  851.50  534.00  839.00  548.50  861.00 
**  Asia Malt 50/50  512.00  804.50  536.00  841.50  527.50  829.00  542.00  851.00 


EURO = USD 1.5709 May 22, 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  482.00  756.50  505.50  794.00  497.50  781.00  511.50  803.50 
2RS  Prestige  480.50  755.00  504.50  792.00  496.00  779.50  510.50  801.50 
2RS  Cellar  479.50  753.00  503.00  790.00  495.00  777.50  509.00  799.50 
2RS  Sebastien  478.00  751.00  501.50  788.00  493.50  775.50  508.00  797.50 
2RS  Astoria  478.00  751.00  501.50  788.00  493.50  775.50  508.00  797.50 
2RS  Cork   478.00  751.00  501.50  788.00  493.50  775.50  508.00  797.50 
2RS   Average price  479.50  753.00  503.00  790.00  495.00  777.50  509.00  799.50 
6RW  Esterel   453.50  714.50  478.50  751.50  470.50  738.50  484.50  761.00 
Asia Malt 70/30  472.00  741.50  495.50  778.50  487.50  765.50  501.50  788.00 
**  Asia Malt 50/50  467.00  733.50  490.50  770.50  482.50  758.00  496.50  780.50 

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

Australian Barley Outlook 2005 - 2013

  2005-2006  2006-2007  2007-2008f  2008-2009z  2009-2010z  2010-2011z  2011-2012z  2012-2013z 
 Area '000 ha  4 406  4 098  4 350  4 524  4 406  4 450  4 464  4 473 
 Production kt  9 483  4 176  5 915  8 958  8 812  8 989  9 142  9 280 
 Price-nominal, A$/t 
 Feed barley 187  276  317  276  282  287  290  293 
 Malting Barley 202  321  370  322  328  335  338  342 
 Price-real, A$/t  
 Feed barley 198  284  317  269  267  266  262  258 
 Malting Barley 214  330  370  313  312  310  306  301 
Source: ABARE; f-ABARE forecast; z-ABARE projection.
Graph of the Week



These Days in Business History
May 22
1785 Benjamin Franklin announces his invention of bifocals
1900 Associated Press News Service forms in New York
1918 King Oil/Shell refinery on Curacao officially opens

May 23
1922 Walt Disney incorporates his 1st film company Laugh-O-Gram Films
1956 World Trade Center dedicated in Ferry Building, San Francisco
1995 Sun Microsystems launches Java, the universal Internet programming language

May 24
1688 The earliest known book on the stock market, Joseph Penso de la Vega’s Confusion de Confusiones (Confusion of Confusions), appears.
1973 The Stock Exchange of Singapore is founded.
1985 Quantum Computer Services is incorporated in Delaware. In 1991 it changes its name to America Online, Inc.

May 25
1915 Thomas Edison invents telescribe to record telephone conversations
1954 IBM announces vacuum tube "electronic" brain that could perform 10 million operations an hour
1960 1 millionth Dutch telephone installed
Agenda