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E-Malt.com Newsletter 04a
January 19 - January 21, 2009
Open!
Click here to get full size Newsletter


Quote of the week

"We all need lots of powerful long range goals to help us past the short-term obstacles."
Jim Rohn
Currency Rates
Base Currency: Euro, EUR
on 21-January-2009

1 EUR = 1.298 USD
1 EUR = 0.9194 GBP
1 EUR = 1.6354 CAD
1 EUR = 1.9652 AUD
1 EUR = 117.292 JPY
1 EUR = 3.0574 BRL
1 EUR = 43.2049 RUB
1 EUR = 8.8916 CNY
Base Currency: US Dollar
on 21-January-2009

1 USD = 0.7705 EUR
1 USD = 0.7082 GBP
1 USD = 1.2599 CAD
1 USD = 1.5138 AUD
1 USD = 90.358 JPY
1 USD = 43.2049 BRL
1 USD = 33.285 RUB
1 USD = 6.85 CNY
Currency Rates Chart

Equities of the Largest Breweries

Equities of the Largest Breweries

Average Market Prices Change trend

January 21, 2009

Type Crop 2008 Crop 2009
2rs Barley EUR120.0-122.0 EUR136.0-138.0
6rw Barley EUR114.0-116.0 EUR126.0-128.0
2rs Malt EUR341.5-343.5 EUR352.5-354.5
6rw Malt EUR333.0-335.0 EUR339.5-341.5
Feed Barley EUR103.0-105.0 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

India: Unites Breweries achieves a 67% increase in net profit for Q3 ended December, 2008 ...Click here
Japan & Philippines: Kirin to buy a 43.25% stake in San Miguel Brewery ...Click here
CIS: Efes Breweries reports full year 2008 sales volume figures ...Click here
Latvia: Beer market volume forecast to decline in 2009 ...Click here
India: Cobra Beer India reportedly seeking a partner, may not be sold after all ...Click here
United States: Feed and malting barley prices surprisingly add 25 cents and more ...Click here
Canada: Government puts on hold plans for barley legislation ...Click here




India: SABMiller enumerates factors hampering its business in India ...More Info
World: Anheuser-Busch InBev planning sale of a three-part bond in euro and sterling ...More Info
Ireland: Diageo to revise plans for Kildare brewery ...More Info
Australia: Shortage of feed barley felt as farmers store more grain on farm ...More Info
Japan: Japan’s low-malt happosu beer is an effective barrier against imported lagers - analyst ...More Info
United Kingdom: 39 British pubs closed weekly by price hikes and government policy ...More Info
Canada: Competition Bureau says no reasons to challenge Labatt Brewery’s 2007 acquisition ...More Info
Russia: Baltika pays 2007 dividend to shareholders ...More Info
Nigeria: Guinness Nigeria Plc puts up for sale a historical brewery ...More Info
Go to our news database with more than 14253 articles.
Today with the possibility to be translated in 7 different languages!
DE FR SP IT PT RU CN

Brewery News

India: Unites Breweries achieves a 67% increase in net profit for Q3 ended December, 2008

United Breweries Holdings reported a 67 per cent increase in net profit for the third quarter ended December 2008 at Rs 6.93 crore as against Rs 4.15 crore posted in the corresponding quarter last year, The Business Standard posted on January, 20.

Total income of the company in the quarter, however, declined 11 per cent to Rs 91.75 crore when compared to Rs 102.91 crore in the same quarter last year.

The company’s total expenditure in the quarter has decreased 8 per cent at Rs 51 crore as compared to Rs 55.25 crore in the corresponding quarter last year.

UB’s net sales amounted to Rs 72.05 crore in Q3 ended December, 2008 (Rs 60.07 crore in Q3 ended December, 2007).


Japan & Philippines: Kirin to buy a 43.25% stake in San Miguel Brewery

Kirin Holdings Company, Limited and San Miguel Corporation (SMC) have executed the Memorandum of Understanding regarding the exclusivity for Kirin in its negotiation to invest in San Miguel Brewery, Inc., the beer business subsidiary of SMC, the Japanese brewer announced on January, 19.

Kirin will enter into exclusive negotiations with SMC to acquire 43.25% of the issued and outstanding capital stock of SMB. This investment will significantly contribute Japanese company’s further growth in its alcohol business in Asia and Oceania.

According to the report, the details of the transaction are to be further discussed by both parties. Kirin and SMC will target on signing definitive agreements by the end of February.

SMB's beer market share in the Philippines is approximately 95%, and its parent SMC has long been in the business in Asia, including China, Vietnam, Indonesia and Thailand. Through the contemplated investment, Kirin is aiming to establish the strong operational base on both manufacturing and sales in the Asia and Oceania markets, accelerating creation of group synergies in alcohol business.

San Miguel Brewery Inc. shares rose the most in eight months in Manila trading after the announcement, Bloomberg reported on January, 20.

San Miguel Brewery jumped 11 percent to close at 9.80 pesos, the ...More Info


CIS: Efes Breweries reports full year 2008 sales volume figures

Efes Breweries International N.V. announced on January, 19 its sales volume figures for the year ended 31.12.2008.

In 2008, EBI’s consolidated sales volume reached 14.1 mln hl, recording a growth of 5.8% over the previous year. Sales volume growth on an organic basis was 4.9% in the year.

According to the company’s statement, the data on sales volume organic growth are calculated without including the sales volume of JSC Lomisi in Georgia, the FY2007 and 1H 2008 sales volume of Efes Serbia, which is excluded from EBI’s financials after the end of 1H2008, and the sales volume of “Viva” and “Real” mineral water brands in Moldova, which were sold to the Coca-Cola Company in February 2007.

Fourth quarter sales volume was down by 0.5% compared to a year ago, due to the effects of a sharp economic slowdown in the region combined with the strong base of last year, the brewer posted.

In Russia, 2008 sales volume reached 11.1 mln hl, by growing 6.8% over the previous year. The negative impact of deteriorating consumer confidence in Russia was apparent throughout the year, but was witnessed to its greatest extent in the fourth quarter. The market is expected to have contracted by more than 5% ...More Info


Latvia: Beer market volume forecast to decline in 2009

In comparison with 2008, the total volume of Latvia’s beer market will shrink by 5-6%, or 7-8 mln litres, this year, Aldaris Brewery board chairwoman Inara Sure was quoted as saying by DELFI on January, 19.

According to Ms Sure, the year 2008 saw a smaller decline – 3.5%, or 5.5 mln litres, from 2007.

This volume decline is enough to negatively influence not only the financial results of the Latvian brewers but also the nation’s tax proceeds.

Sure says the crisis will hit harder due to the government’s rash decision to increase beer excise and the value-added tax.

Nevertheless, she assessed Aldaris’ performance in 2008 as good.


India: Cobra Beer India reportedly seeking a partner, may not be sold after all

Cobra Beer founder Lord Karan Bilimoria is scouting for a partner to steer the Indian arm of the brewing enterprise out of losses, The Economic Times reported on January, 20.

Besides, Mr Bilimoria may decide against an outright sale of the operations, sources inform.

Ravi Jain, a veteran expert of the alcoholic beverage industry who is emerging from a three-year no-compete pact with UB chairman Vijay Mallya, is mentioned as a potential partner.

The Billimoria family is also believed to be talking to financial investors for taking the Indian operations forward.

Last month, Cobra Beer invited separate bids to sell-off the UK and India business. While sectoral observers predict a bidding war for the mainstay UK business, the Indian arm is unlikely to attract robust offers.

Market rumours have pointed to InBev’s joint venture with RJ Corp as a potential bidder for the India unit, but a top company official denied them.

Sources close to the Bilimoria family said the promoter was interested to take the local arm forward, as it might fetch a higher valuation a few years down the line.

"If there is no irresistible offer, he (Bilimoria) will want to steer the business to profitability with the help of a partner ...More Info


Barley News

United States: Feed and malting barley prices surprisingly add 25 cents and more

Both the feed and malting barley markets have shown upward movement in the past couple weeks, which has come as a surprise to many, The Farm & Ranch Guide reported on January, 19. “We've seen feed barley come up 30 cents or more in the last couple of weeks,” says Jeremy Burkhart, a grain merchandiser with Sun Prairie Grain in Minot, North Dakota, “and that's probably a combination of two factors: there just isn't any barley moving at the time with the weather conditions we have and the corn market has strengthened, which has supported feed barley prices. The buyers are trying to shake a little bit of barley out of the bins with these higher prices.”

As a means of comparison, Burkhart referred to marketing sheets back on Dec. 22 when feed barley was at $2.15 a bushel and compared it to Jan. 9 when the local cash price for barley was at $3, and that figure is about the average over the entire state.

Future movement of cash feed barley prices will be pretty much determined by what corn prices do, he noted.

“With the ethanol industry struggling a little right now we are seeing more corn going into feed use, ...More Info


Canada: Government puts on hold plans for barley legislation

Canada's Conservative government will not introduce legislation in the short term to seek an end to the Canadian Wheat Board's monopoly on barley marketing, Agriculture Minister Gerry Ritz was quoted as saying by Reuters on January, 19.

"We are holding back on legislation on barley," Ritz told reporters on a conference call.

"I don't see that on my radar screen in the next short time," he said, adding that he would focus on expanding international trade opportunities for agricultural exporters.

Ritz said the government remains committed to eventually reforming the farmer-controlled CWB, one of the world's largest wheat exporters.

Prime Minister Stephen Harper, first elected in 2006, has wanted to give Prairie farmers the choice of selling to the CWB or dealing directly with buyers.

Ottawa's first attempt to open up barley marketing was successfully challenged in court. It later introduced legislation on the issue, but never brought it before Parliament for a vote.

Harper won a strengthened minority in an election last October and will lay out his policy agenda in a major speech when Parliament resumes, it is reported.

Scientific Digest

The Impact of a Xanthohumol-Enriched Hop Product on the Behavior of Xanthohumol and Isoxanthohumol in Pale and Dark Beers: A Pilot Scale Approach

Paulo J. Magalhaes, Pavel Dostalek, Jose M. Cruz, Luis F. Guido and Aquiles A. Barros

Abstract:
J. Inst. Brew. 114(3), 246–256, 2008 Based on the health-promoting properties of xanthohumol (XN), the production of an enriched beer in this substance would be of interest to the brewing industry, from the perspective of pointing out the benefits that beer could bring consumer health. For that purpose, in this work efforts were applied to produce a beer enriched in XN. Also investigated was the influence of a XNenriched hop product on the content of XN and isoxanthohumol (IXN) in pale and dark beers. It was verified that XN was largely converted into IXN during wort boiling. However, the use of dark malts revealed a positive effect on the thermal isomerisation of XN. These results are indicative of the isomerisationinhibiting effect of the stout production process, which resulted in high levels of XN in the beer. Further losses of XN were due to incomplete extraction from the hops into the wort, adsorption to insoluble malt proteins and adsorption to yeast cells during fermentation. It was possible to produce a dark beer enriched in XN (3.5 mg/L) by using coloured malt (caramel malt, roasted malt and roasted malt extract) and a special XN hop extract combined with late hop usage during wort boiling. Key words: beer, health, hop, isoxanthohumol, polyphenols, xanthohumol. Load full article, 11 pages, 513 Kb, PDF file

Barley Prices

French Malting Barley Prices. Nominal prices
EURO = USD 1.298 January 21, 2009 
 Crop year   2008   2009 
 Parity   FOB Creil   FOB Creil 
 Position   July 2008   July 2009 
Type   Variety  EURO  USD  EURO  USD 
2RS  Scarlett  123.00  160.00  139.00  180.50 
2RS  Prestige  122.00  158.50  138.00  179.50 
2RS  Cellar  121.00  157.50  137.00  178.00 
2RS  Sebastien  120.00  156.00  136.00  176.50 
2RS  Tipple  120.00  156.00  136.00  176.50 
2RS  Henley  120.00  156.00  136.00  176.50 
6RW  Esterel   115.00  149.50  127.00  165.00 

French Feed Barley Prices. Nominal prices
EURO = USD 1.298 January 21, 2009
Crop year 2008
Parity FOB Creil
Position July 2008
Type EURO USD
Feed Barley 104.00 135.00


Theoretical Malt Prices

EURO = USD 1.298 January 21, 2009 
Crop year  2008 
Parity  FOB Antwerp 
Position  Jan 2009 - Sept 2009 
Conditioning  Bulk   In bags  Bulk containers Bags, containers
Malting barley variety  EURO USD EURO  USD EURO USD  EURO  USD
2RS  Scarlett  344.50  447.50  376.00  488.00  368.00  478.00  382.50  496.50 
2RS  Prestige  343.50  445.50  374.50  486.50  367.00  476.50  381.00  494.50 
2RS  Cellar  342.50  444.00  373.50  484.50  365.50  474.50  380.00  493.00 
2RS  Sebastien  341.00  442.50  372.00  483.00  364.50  473.00  378.50  491.50 
2RS  Tipple  341.00  442.50  372.00  483.00  364.50  473.00  378.50  491.50 
2RS  Henley  341.00  442.50  372.00  483.00  364.50  473.00  378.50  491.50 
2RS   Average price  342.50  444.00  373.50  484.50  365.50  474.50  380.00  493.00 
6RW  Esterel   334.00  434.50  366.00  475.00  358.50  465.00  372.50  483.50 
Asia Malt 70/30  340.00  441.50  371.50  481.50  363.50  471.50  377.50  490.50 
**  Asia Malt 50/50  338.50  439.50  369.50  480.00  362.00  470.00  376.50  488.50 


EURO = USD 1.298 January 21, 2009
Crop year 2009
Parity FOB Antwerp
Position Oct 2009 - Sep 2010
Conditioning Bulk In bags Bulk containers Bags, containers
Malting barley variety EURO USD EURO USD EURO USD EURO USD
2RS  Scarlett  356.00  462.00  387.50  502.50  379.50  492.50  393.50  511.00 
2RS  Prestige  355.00  460.50  386.00  501.00  378.50  491.00  392.50  509.50 
2RS  Cellar  353.50  459.00  384.50  499.50  377.00  489.50  391.50  508.00 
2RS  Sebastien  352.50  457.50  383.50  497.50  376.00  488.00  390.00  506.50 
2RS  Tipple  352.50  457.50  383.50  497.50  376.00  488.00  390.00  506.50 
2RS  Henley  352.50  457.50  383.50  497.50  376.00  488.00  390.00  506.50 
2RS   Average price  353.50  459.00  384.50  499.50  377.00  489.50  391.50  508.00 
6RW  Esterel   340.50  443.00  372.50  483.50  365.00  473.50  379.00  492.00 
Asia Malt 70/30  350.00  454.00  381.00  494.50  373.50  484.50  387.50  503.00 
**  Asia Malt 50/50  347.50  451.00  378.50  491.50  371.00  481.50  385.00  500.00 

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

Table of the Week

US Barley Supply and Distribution

  1998
1999
1999
2000
2000
2001
2001
2002
2002
2003
2003
2004
2004
2005
2005
2006
2006
2007
2007
2008
2008
2009f
Harvested
Area (ha)
2373 1916 2110 1736 1669 1913 1627 1323 1194 1417 1524
Yield (mt) 3 3 3 3 3 3 4 3 3 3 3
Production 7667 6103 6939 5430 4940 6059 6091 4613 3923 4575 5214
Import 649 602 636 521 402 449 264 117 264 688 653
TY Imports 597 627 646 519 282 497 157 124 354 764 600
Exports 621 613 1258 579 695 409 506 606 441 902 435
TY Exports 550 852 1065 511 552 384 771 357 528 901 450
Feed Dom. Consumption 3505 3007 2683 1920 1819 1617 2238 1132 1071 706 1742
Domestic Consumption 7207 6752 6427 5665 5179 4990 5672 4570 4596 4376 5225
Ending Stocks 3084 2424 2314 2021 1510 2619 2796 2350 1500 1485 1692
Note: Trading Year (TY) statistics are on Oct/Sept years. Source: USDA
Graph of the Week



These Days in Business History
January 19
1898 Edward Crosby Johnson II, future founder of Fidelity Management & Research Co., is born in Milton
1938 GM began mass production of diesel engines
1992 IBM announces a nearly $5B loss for 1992

January 20
1781 1st edition of Pieter It Hoens "Post of Neder-Rhijn" published
1872 Californian Stock Exchange Board organized
1995 Russian ruble drops to 3,947 per dollar (record)

January 21
1846 1st edition of Charles Dickens' "Daily News"
1976 Supersonic Concorde, 1st commercial flights, by Britain and France
1994 Dow Jones passes 3900 (record 3,914.20)
Agenda