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E-Malt.com Newsletter 25b
June 18 - June 22, 2008
Open!
Click here to get full size Newsletter


Quote of the week

"When in doubt, mumble; when in trouble, delegate; when in charge, ponder."
James H. Boren
Currency Rates
Base Currency: Euro, EUR
on 19-June-2008

1 EUR = 1.5504 USD
1 EUR = 0.7932 GBP
1 EUR = 1.5797 CAD
1 EUR = 1.6437 AUD
1 EUR = 167.487 JPY
1 EUR = 2.5021 BRL
1 EUR = 36.6782 RUB
1 EUR = 10.6877 CNY
Base Currency: US Dollar
on 19-June-2008

1 USD = 0.645 EUR
1 USD = 0.5116 GBP
1 USD = 1.0189 CAD
1 USD = 1.0602 AUD
1 USD = 108.029 JPY
1 USD = 1.6138 BRL
1 USD = 23.6567 RUB
1 USD = 6.8933 CNY
Currency Rates Chart

Equities of the Largest Breweries

Equities of the Largest Breweries

Average Market Prices Change trend

June 19, 2008

Type Crop 2007 Crop 2008
2rs Barley nq   €243.0-245.0 0.83%
6rw Barley nq   €224.0-226.0 1.35%
2rs Malt €529.5-531.5 €488.5-490.5 0.41%
6rw Malt €496.5-498.5 €464.5-466.5 0.87%
Feed Barley €175.0-177.0 0.57% 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

USA & Belgium: Anheuser-Busch board to meet face-to-face for the first time since rival brewer InBev formally made its bid to buy the company ...Click here
Ukraine: Carlsberg to boost beer production in Ukraine by building a brand new brewery ...Click here
Mexico: Modelo seen embracing InBev bid for Bud ...Click here
India: APB row threatens to spoil Mallya’s Heineken party ...Click here
Japan: Sapporo, the first brewery in the world, to show CO2 emissions on each can ...Click here
France: Beer consumption continues slowing down ...Click here
USA & France: Discussions on ADM’s possible sale of its subsidiary ADM Malting to the Malteurop group ...Click here
Australia: ABB Grain's Malt Plant suspended operations due to West Australia gas outage ...Click here
Australia: Significant tonnages of some malting barley varieties could be downgraded to feed ...Click here
Canada: Free Trade Agreement with Colombia ...Click here




USA: Lawmakers vow to fight InBev-Anheuser deal ...More Info
USA: Buffett's Berkshire may get $600 million if InBev buys Anheuser ...More Info
Word: Global sales of premium beer by volume rose by 150% between 2000 and 2006 ...More Info
USA: Miller Brewing puts craft beers on ice ...More Info
Europe: The first European Beer Consumers Union (EBCU) constitution will be signed on 24 June. ...More Info
The Netherlands: Heineken tendered 80.7 percent in Eichhof's beverage business; bid succeeds ...More Info
Canada: Russell Breweries Inc. grants incentive stock options ...More Info
Dominican Republic: The Dominican National Brewery as one of the best company to work for ...More Info
Australia: Wine and beer tax hike not on agenda ...More Info
Australia: A new form of DNA testing for barley may make your beer taste even better ...More Info
Canada: CWB expects Saudi Arabia to stick with barley ...More Info
Go to our news database with more than 12963 articles.
Today with the possibility to be translated in 7 different languages!
DE FR SP IT PT RU CN

Brewery News

USA & Belgium: Anheuser-Busch board to meet face-to-face for the first time since rival brewer InBev formally made its bid to buy the company

Anheuser-Busch Cos's board plans to meet face-to-face tomorrow for the first time since rival brewer InBev formally made its $46bn bid to buy the company, The Financial Times posted on June 19, citing people close to the situation.

The directors will weigh a variety of options for Anheuser, the 150-year-old brewer of Budweiser beer. But in a sign that Anheuser may not unequivocally reject InBev's advances, insiders say its advisers will focus the board's attention on the valuation of InBev's bid. At $65 per Anheuser share, they may argue that the bid is too low for a brand that InBev has called "iconic".

The offer, which equates to roughly 12 times Anheuser's 2007 earnings before interest, taxes, depreciation and amortisation, represents a 35 per cent premium to Anheuser's average share price over the month before the bid announcement. Carlos Brito, InBev's chief executive, said yesterday that it had offered a "full price".

Sales of other well-known brands including Wrigley and Gillette have earned richer valuations, however, and Anheuser may point to those examples in its response to InBev.

Anheuser's shares closed yesterday at $61.90, as investors attempted to handicap the likelihood of a deal. The bid by the Belgian brewer for Anheuser has all ...More Info


Ukraine: Carlsberg to boost beer production in Ukraine by building a brand new brewery

The brewing force, Carlsberg Group, is mulling plans to build a brand new brewery in Ukraine, a move which will strengthen its already strong position in a country where per capita beer consumption has doubled in five years, Kyiv Post communicated on June 18.

Analysts estimate that the new brewery, the first brand new beer­making facility built in Ukraine since Soviet days, could cost $10 million. This year, the Carlsberg group consolidated 100 percent ownership over Baltic Beverage Holdings, which in prior years acquired three breweries in Ukraine.

In acquiring BBH, Carlsberg gained a leading position in Ukraine through the Slavutych breweries in Kyiv and Zaporizhia, and the Lvivske brewery in Lviv.

Olena Markova, a BBH spokesperson in Ukraine was tight­lipped, neither confirming nor denying plans to build a new brewery.

But on June 11, Viktor Kovalenko, head of the main administration of foreign economic relations and European integration at Kharkiv Oblast State Administration, told journalists that Carlsberg representatives conducted negotiations on a site for the brewery with Arsen Avakov, head of Kharkiv Oblast State Administration. Carlsberg was offered six land plots to choose from, Kovalenko added.

Oleksandr Sokolov, head of the analytical department of Financial­Analytical Group Pro­Consulting, said construction of the new brewery ...More Info


Mexico: Modelo seen embracing InBev bid for Bud

Mexico's No. 1 brewer, Modelo, run by a family not known for risk taking, is expected to emerge from InBev's $46.3 billion takeover battle for Anheuser-Busch with only one major change -- a new partner, Reuters communicated on June 18th.

Modelo, already 50 percent owned by Anheuser, is expected to block any attempt by the brewer of Budweiser to buy full control as a defensive move. Neither does it want to take on billions of dollars of debt to buy back its stake in the St. Louis-based giant.

Analysts say the most likely outcome is that Modelo, which makes Corona beer, will embrace InBev's bid for Anheuser and hope the Belgian brewer proves to be a more dynamic and innovative partner than the biggest U.S. brewer.

"At the end of the day, if InBev buys Anheuser, Modelo is going to play safe. OK, now I don't have Anheuser causing me grief. I have InBev and everything remains the same," said Ixe brokerage analyst Marco Reyes.

Modelo CEO Carlos Fernandez told Reuters two weeks ago -- before InBev launched its $65 a share bid for Anheuser -- that he expected his company, which has no debt and more than $1 billion in cash, to remain ...More Info


India: APB row threatens to spoil Mallya’s Heineken party

Dutch brewing giant Heineken has indicated it will not leave the Asian partner, Singapore-based Asia Pacific Breweries (APB), in the lurch, while partnering United Breweries (UB) in India, The India Times posted on June 2008..

Heineken, which is taking 37.5% stake in UB after the worldwide acquisition of Scottish & Newcastle, appears to be preparing ground for APB’s continued presence in the domestic market, which is hotly contested by India’s largest brewer.

On Tuesday night, in London, UB chairman Vijay Mallya told ET : “Heineken is my shareholder. And I will talk to Heineken only.” Mr Mallya and Heineken CEO Jean Francois van Boxmeer are expected to meet in Paris on coming Monday for crucial talks to work out a business relationship, but APB operations in India, with its flagship Tiger beer, remains a stumbling block.

The board of APB —in which Heineken holds 42% and Fraser & Neave 38% stake—is believed to have taken a strong stance against quitting India’s rapidly expanding beer market. Sources said Heineken has put forward at least two options aimed at “meaningfully” covering the interests of all the three parties . One, APB will continue as an entity with its market operations tied to ...More Info


Japan: Sapporo, the first brewery in the world, to show CO2 emissions on each can

Sapporo Breweries Ltd. said on June 19th it will list the amount of carbon dioxide emitted during the manufacture of each can on the labels of its flagship beer product, Japan’s Corporate News communicated.

Starting in March next year, the major Japanese brewer will indicate how much CO2 is emitted from the time ingredients are planted to the time the can is disposed of on "Kuro Label" 350-mililiter cans.

According to the company, no other beer maker in the world is announcing its product's carbon footprint in such a way, and the company sees it as a measure against global warming.

Sapporo Breweries can accurately figure out the amount of CO2 emissions because it fully controls the beer-making process, including barley and hop production, which are entirely undertaken by contracted farmers, company officials said.

The move by Sapporo Breweries, part of Sapporo Holdings Ltd., is in line with the possible nationwide implementation of carbon footprints in Japan.

The Japanese Economy, Trade and Industry Ministry launched a task force this month made up of academics, food and food package makers and retailers to establish rules on CO2 emission labeling by March next year.


France: Beer consumption continues slowing down

Beer consumption in France dropped by 8.2% for the first quarter 2008, following the tendency already felt in 2007, according to the figures published on June 19 by the professional organisation of French Brewers.

This decrease is “probably” due to the interdiction of smoking in public places, Gérard Laloi, the president of French Brewers commented. The law came into force since January 2nd this year.

Beer consumption of about 30 litres per capita every year in France is one the lowest in Europe. So, a French drinks four times less beer then a German.


Malt News

USA & France: Discussions on ADM’s possible sale of its subsidiary ADM Malting to the Malteurop group

The US group ADM and the French group Malteurop, recently held discussions on ADM’s possible sale of its subsidiary ADM Malting to the Malteurop group, a subsidiary of the holding SICLAE of which Champagne Céréales Group is the main shareholder.

The Malteurop Group is the third-largest world malting company and is one of the leading operators on today’s malt market, with an annual production capacity exceeding 1,200,000 metric tons, according to company's official site. The Group is present in seven European countries and in Asia at fifteen industrial sites. With 450 employees, the Group’s annual business volume is 330 million euros.


Australia: ABB Grain's Malt Plant suspended operations due to West Australia gas outage

Leading Australian agribusiness ABB Grain has announced that production at its Joe White Maltings Perth malt house has been temporarily suspended following a gas pipeline rupture which has led to supply disruptions throughout Western Australia, Flex News communicated on June 18.

Joe White Maltings will operate its seven other malt plants in Australia at full capacity and draw upon existing stocks in order to meet customer requirements. The Perth facility is the largest malthouse in the southern hemisphere.

Although ABB was unable to give a date for the resumption of operations or to estimate the financial consequences the interruption would have for the company, it expected no material impact after considering insurance recoveries.

Joe White Maltings, ABB Grain’s malting division, is one of the world’s largest producers of malt with the capacity to produce 500,000 tonnes per annum.


Barley News

Australia: Significant tonnages of some malting barley varieties could be downgraded to feed

With the introduction of the minimum protein level for delivery of malting barley, significant tonnages of Baudin and Gairdner, with grain protein less than 9.5 per cent, have been downgraded to feed, directly affecting grower profit, Fairfax Media, posted on June 19.

Due to world demand for malt barley increasing at 6 to 9 % every year, the future looks bright for growers who can achieve barley protein levels within the malt barley receival specification.

As there can be a large difference between malt and feed grade prices, growers and consultants are seeking the most efficient way to achieve grain protein levels of 10 to 11 % to meet market specifications.

To help, Grains Research and Development Corporation supported Department of Agriculture and Food WA researchers looked at managing nitrogen inputs in malting barley and assessed decision support tools for nitrogen application.

DAFWA Albany researcher Jeremy Lemon said growers should use caution when interpreting any study. “It is not possible to make universal recommendations, because barley response to nitrogen is highly site and season specific and it can be difficult to unequivocally explain trial outcomes,” he said. “If a barley grower achieves poor results, they need to do something different and find a system ...More Info


Canada: Free Trade Agreement with Colombia

Talks have wrapped up between the Canadian government and the government of Colombia on a free trade agreement. Colombia currently applies an average tariff of 16.6 percent to Canadian agricultural goods. David Boyes, market analyst with the Canadian Wheat Board, says this deal is significant for prairie producers.

Over 400 thousand tonnes of wheat and 80 thousand tonnes of malting barley was shipped to Columbia in 2007.

The agreement calls for an immediate end to tariffs on wheat, barley, peas and lentils with improved access for beef and beans.

Tariffs will be phased out on pork and oilseeds.

Scientific Digest

Application of Ultrasonic Waves as a Priming Technique for Accelerating and Enhancing the Germination of Barley Seed: Optimization of Method by the Taguchi Approach

Maryam Yaldagard Seyed Ali Mortazavi and Farideh Tabatabaie

Abstract
J. Inst. Brew. 114(1), 14-21, 2008 In this study the effects of different intensities and exposure time of ultrasound on barley seed have been investigated to determine the optimal conditions for accelerating germination. For optimization, the Taguchi approach was used. The germination rates and/or yield of the treated sample seed were compared with those of the untreated seed germinated under normal conditions. The seeds were treated with ultrasonic energy (input power 20- 90% of 460W) and were exposed to three time periods ranging from 5 to 15 min. It was found that germination of the treated barley seed was increased about 1.042–1.065 times compared with that of the untreated seed. The ultrasonic treatment proved to be efficient in reducing the germination period by 30-45%. It was concluded that priming of seeds with ultrasound was effective in improving water uptake and germination. The data presented in this paper suggest that the increase in final germination percentage, together with the reduced germination period in treated seeds, may be due to the action of ultrasound and that it led to an improved hydration process with concurrent shell fragmentation. Key words: Barley seed, enhancing germination, optimization, Taguchi technique, ultrasonic priming technique. ... Load full article, 8 pages, 353 Kb, PDF file

Barley Prices

French Malting Barley Prices. Nominal prices
EURO = USD 1.5504 June 19, 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  246.00  381.50 
2RS  Prestige  nq  nq  245.00  380.00 
2RS  Cellar  nq  nq  244.00  378.50 
2RS  Sebastien  nq  nq  243.00  377.00 
2RS  Tipple  nq  nq  243.00  377.00 
2RS  Henley  nq  nq  243.00  377.00 
6RW  Esterel   nq  nq  225.00  349.00 

French Feed Barley Prices. Nominal prices
EURO = USD 1.5504 June 19, 2008
Crop year 2007
Parity FOB Creil
Position July 2007
Type EURO USD
Feed Barley 176.00 273.00

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

Theoretical Malt Prices

EURO = USD 1.5504 June 19,2008
Crop year  2007 
Parity  FOB Antwerp 
Position  June 2008 - Sep 2008 
Conditioning  Bulk   In bags  Bulk containers Bags, containers
Malting barley variety  EURO  USD  EURO  USD  EURO  USD  EURO  USD 
2RS  Scarlett  533.00  826.50  557.00  863.50  548.50  850.50  563.00  872.50 
2RS  Prestige  532.00  824.50  555.50  861.50  547.50  848.50  561.50  870.50 
2RS  Cellar  530.50  822.50  554.50  859.50  546.50  847.00  560.50  869.00 
2RS  Sebastien  529.50  821.00  553.00  857.50  545.00  845.00  559.50  867.00 
2RS  Tipple  529.50  821.00  553.00  857.50  545.00  845.00  559.50  867.00 
2RS  Henley  529.50  821.00  553.00  857.50  545.00  845.00  559.50  867.00 
2RS   Average price  530.50  822.50  554.50  859.50  546.50  847.00  560.50  869.00 
6RW  Esterel   497.50  773.00  522.50  810.00  514.50  797.50  528.50  819.50 
Asia Malt 70/30  521.00  808.00  545.00  844.50  536.50  832.00  551.00  854.00 
**  Asia Malt 50/50  514.50  798.00  538.50  834.50  530.50  822.00  544.50  844.00 


EURO = USD 1.5504 June 19,2008 
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  492.00  763.00  516.00  799.50  507.50  787.00  522.00  809.00 
2RS  Prestige  491.00  761.00  514.50  797.50  506.50  785.00  520.50  807.00 
2RS  Cellar  489.50  759.00  513.50  796.00  505.50  783.50  519.50  805.50 
2RS  Sebastien  488.50  757.50  512.00  794.00  504.00  781.50  518.50  803.50 
2RS  Tipple  488.50  757.50  512.00  794.00  504.00  781.50  518.50  803.50 
2RS  Henley  488.50  757.50  512.00  794.00  504.00  781.50  518.50  803.50 
2RS   Average price  489.50  759.00  513.50  796.00  505.50  783.50  519.50  805.50 
6RW  Esterel   465.50  723.00  490.00  759.50  482.00  747.00  496.00  769.00 
Asia Malt 70/30  482.50  748.50  506.50  785.00  498.50  772.50  512.50  794.50 
**  Asia Malt 50/50  478.00  741.00  501.50  777.50  493.50  765.00  507.50  787.00 

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: ABARE, June 2008

Table of the Week

Australian 2008 Hop Crop
Area and Production


Variety Tasmania Victoria Totals
Hectares Yield
T/ha
Production
(Tonnes)
Hectares Yield
T/ha
Production
(Tonnes)
Hectares Yield
T/ha
Production
(Tonnes)
Cluster 8.9 2.51 22 10.0 2.00 20 18.9 2.24 42
Millennium 47.4 2.10 99 - - - 47.4 2.10 99
Others 30.7 1.51 46 2.4 4.05 10 33.1 1.70 56
Pride of Ringwood 88.5 2.71 240 20.0 2.00 40 108.5 2.58 280
Super Pride 103.8 2.29 237 71.0 1.83 130 174.9 2.10 367
Topaz - - - 75.7 3.58 271 75.7 3.58 271
Victoria 12.4 3.18 39 13.2 2.54 34 25.6 2.85 73
Total 2008 292 2.35 685 192 2.62 504 484 2.46 1189
Total 2007 258 2.07 534 183 1.94 355 441 2.02 889
Graph of the Week



These Days in Business History
June 19
1464 French King Louis XI forms postal service
1764 John Barrow is born, founder of Royal Geographical Society
1963 1st woman in space returns to Earth

June 20
1793 Eli Whitney patents his cotton gin
1863 1st bank chartered in U.S., National Bank of Davenport, Iowa
1867 President Andrew Johnson announces purchase of Alaska

June 21
1948 One of the world’s earliest modern computers, the Small-Scale Experimental Machine runs its first program successfully, proving that it can store data and user programs and process them at electronic speed.
1990 After decades of closure, the Budapest Stock Exchange reopens for trading.

June 22
1899 Michal Kalecki is born, Polish economist
1775 US Congress authorizes the first issuance of Continental Currency, or U.S. paper money
Agenda