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E-Malt.com Newsletter 07b
February 12 - February 15, 2009
Open!
Click here to get full size Newsletter


Quote of the week

"History flows forward on rivers of beer"

Currency Rates
Base Currency: Euro, EUR
on 13-February-2009

1 EUR = 1.2861 USD
1 EUR = 0.9001 GBP
1 EUR = 1.6006 CAD
1 EUR = 1.9725 AUD
1 EUR = 116.061 JPY
1 EUR = 2.9409 BRL
1 EUR = 44.8604 RUB
1 EUR = 8.8007 CNY
Base Currency: US Dollar
on 13-February-2009

1 USD = 0.7776 EUR
1 USD = 0.6998 GBP
1 USD = 1.2445 CAD
1 USD = 1.5337 AUD
1 USD = 90.237 JPY
1 USD = 2.2867 BRL
1 USD = 34.8809 RUB
1 USD = 6.8429 CNY
Currency Rates Chart

Equities of the Largest Breweries

Equities of the Largest Breweries

Average Market Prices Change trend

February 13, 2009

Type Crop 2008 Crop 2009
2rs Barley EUR125.0-129.0 EUR158.0-162.0
6rw Barley EUR118.0-120.0 -0.83% EUR138.0-142.0 1.45%
2rs Malt EUR346.0-348.0 EUR379.0-381.0
6rw Malt EUR335.5-337.5 -0.3% EUR353.0-355.0 0.71
Feed Barley EUR107.0-111.0 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

World: Africa and Latin America keep afloat Diageo’s beer sales in the six months ended December 2008 ...Click here
China: Chinese beer market to become a major battleground for multinational brewers - analysts ...Click here
Singapore: Asia Pacific Breweries posts first quarter gains ...Click here
Poland: SABMiller’s Polish brewer boosts sales along with the nation's beer industry ...Click here
Japan: Asahi sells 93,154 kilolitres of beer in January 2009 ...Click here
Canada: CWB posts 2007/2008 annual report ...Click here
France: No interest in feed barley, malting barley market blocked by bad weather ...Click here
Australia: All barley pools 2008/2009 closed by ABB Grain ...Click here
Ukraine: Hop crop 2008 sees no demand ...Click here




Philippines: San Miguel downgraded to “underperform” as analysts see no growth potential for the brewer in its domestic beer market ...More Info
Australia: An impressive feed barley variety may gain a malting status by 2010 ...More Info
Denmark: UBS says Carlsberg’s 2008 results will fall short of forecast ...More Info
Russia: Baltika offers two more varieties of Tuborg beer ...More Info
Ukraine: Obolon brewery sued for not paying its barley supplier ...More Info
Russia: Malting barley production grew five times in the last five years ...More Info
United Kingdom: Coors Brewers signs a 10-year distribution contract worth more than £500 mln ...More Info
Go to our news database with more than 14390 articles.
Today with the possibility to be translated in 7 different languages!
DE FR SP IT PT RU CN

Brewery News

World: Africa and Latin America keep afloat Diageo’s beer sales in the six months ended December 2008

Global alcoholic drinks maker Diageo published on February, 12 the results of its performance during the six months ended December 31, 2008.

The company’s first-half net income rose to 1.14 billion pounds, exceeding the 1.08 billion-pound median estimate of seven analysts surveyed by Bloomberg. So-called organic operating profit, which excludes exchange rate movements and acquisitions, increased 6 percent. Sales, excluding acquisitions, rose 3 percent to 5.07 billion pounds, less than 2008’s 7 percent growth on that basis.

“Diageo's performance in this first half again demonstrates the resilience we have from our brand range across categories, price points and geography. The global economic slowdown has affected business in the period and in November and December this impact was more pronounced. In this difficult market environment Diageo has delivered 3% organic net sales growth, 6% organic operating profit growth and 9% underlying eps growth and we have maintained our financial strength,” Paul Walsh, Chief Executive of Diageo, commented.

According to Diageo’s report, its North American net sales of beer declined by 2%. The planned stock reduction was the main driver of a volume decline of 5% in beer. Guinness volume declined by 7% as the planned stock reduction was implemented. Price increases on over half ...More Info


China: Chinese beer market to become a major battleground for multinational brewers - analysts

The July 2008 merger of Belgian brewing giant InBev with America's Anheuser-Busch has upped the stakes in the battle for the Chinese beer market, China.org.cn posted analysts’ opinion on February, 12.

In China, apart from owning the Budweiser brand, AB InBev has inherited dominant positions in the southeast where InBev had 33 breweries, and the northeast where AB owned Harbin Beer.

The world's second largest brewer South African Breweries (SAB) owns Shenyang Snowflake Beer and Sichuan Blue Sword Beer as well as a 49 percent stake in China Resources Breweries.

Western China's beer market is dominated by Carlsberg Beer, which owns the Kunming Huashi Beer Company, Chongqing Brewery and the brewing division of the Xinjiang Hops Company.

In China as a whole, Yanjing Beer and Henan Jinxing Beer are the only two domestic brewers without foreign partners.

In 2007 the combined production of AB and InBev was 9.88 million kiloliters, compare with the 6.9 million kiloliters produced by South African Breweries (SAB) and Yanjing’s 4.2 million kiloliters.

Ding Feng, director of the Investment Advisory Professional Committee for National Food Industry Productivity Center says the fast growing China market, comprising the world's largest population of consumers, is shaping up as a major battleground for the ...More Info


Singapore: Asia Pacific Breweries posts first quarter gains

Asia Pacific Breweries Ltd (APB) announced on February, 13 that attributable net profit (after exceptional items) for the group rose 13.4% to S$48.3 million for the first quarter ended 31 December 2008.

Group profit before interest, tax and exceptional items (PBIT) stood at S$87.3 million, an increase of S$4.0 million or 5% over last year. Without factoring in translation difference and gestation losses, PBIT rose 12% organically.

Attributable net profit before exceptional items (APBE) rose 2% or S$0.8 million to S$44.8 million. Excluding translation difference and gestation losses*, APBE increased organically by 12%.

Versus the same period last year, revenue increased 2.2% to S$580.2 million.

Mr Roland Pirmez, Chief Executive Officer, APB, commented on the results as follows: “APB is heartened to post first quarter gains amidst a very demanding economic climate.

We increased prices of our beers in several markets and coupled with enhanced volume, sales revenue improved by 2.2%. Attributable net profit enjoyed a healthy growth of 13.4% as we registered a one-time gain of S$3.5 million from the sale of Liquorland Limited in New Zealand. APB’s brewery operations in the Asia Pacific region have continued to actively participate in each market for greater volume and earnings. Amongst the ...More Info


Poland: SABMiller’s Polish brewer boosts sales along with the nation's beer industry

SABMiller's Polish unit Kompania Piwowarska sold 15 mln hl of beer in Poland in 2008, up 6.2% versus 2007, Interfax cited a company press release on February, 12.

The company said its market share rose to 42.1% in 2008 from 40.4% at end-2007. The organic growth was at 4.7% in 2008, adjusted for Browar Belgia, which the company acquired in January 2008.

Kompania Piwowarska's flagship brand Tyskie boosted its market share to 17%. The company's other main brands all expanded on the market.

The company's total production capacities are currently at 18 mln hl a year after the completion of investments at Browar Belgia that cost PLN 250 mln and expanded the factory's standalone capacities to 7.5 mln hl.

The company’s growth compares favourably to the wider market results, with local brewing lobby ZPPP stating that beer sales rose by 1.7% to 35.6 million hectolitres in 2008.


Japan: Asahi sells 93,154 kilolitres of beer in January 2009

Asahi’s total domestic beer volume sold in January, 2009 amounted to 93,154 kilolitres (7,358 thousand of cases), the brewer reported on February, 12.

The company’s sales this January were 14.2% lower than in January, 2008.

Domestic beer sales decreased by 19.5% to 64,650 kilolitres. Sales of low-malt happoshu beer fell by 17.3% to 15,782 kilolitres. New genre no-malt beer sales grew by 20% to 12,722 kilolitres.

Asahi said its Jukusen brand achieved the highest sales increase last month, + 50% to 60 cases. The Super Dry brand sold 5,400 cases (- 15.7%). Style Free sales increased by 11.5% to 680 cases in January 2009.


Barley News

Canada: CWB posts 2007/2008 annual report

Canada’s prairie farmers earned a record C$7.2 billion from their wheat, durum and barley, with total pooled revenue up 94 per cent for designated barley, the CWB announced in its annual report published on February, 11.

The CWB said for designated barley it achieved C$29.47 per tonne above competitors’ prices, slightly below the target of C$33.70.

“The combination of single-desk marketing and pooled pricing worked very well for farmers in last year’s highly volatile international marketplace,” said Larry Hill, chair of the CWB’s farmer-controlled board of directors. “Not only was the CWB able to capture high international prices, its marketing structure allowed Prairie farmers to participate in price rallies when supplies were depleted in most other exporting nations.”

Hill said the volatile marketplace was not without its challenges for all participants in the grain markets. In the CWB’s case, the extreme volatility of futures and basis values, plus a large forward inverse in market values from December 2007 to March 2008, created risk-management issues for its Producer Payment Options (PPOs). Particularly challenging were the often poor correlations between U.S. futures markets and prices in other markets into which the CWB sells, coupled with the volatile basis levels. This led to a ...More Info


France: No interest in feed barley, malting barley market blocked by bad weather

The interest in feed barley has completely disappeared from the French market, La Depeche reported on February, 13.

The prices of feed barley have been falling invariably. The producers of fodder are now absolutely inactive. Deals are very rare, not to say nonexistent, both for export and domestic sales.

The French malting barley market, as well as the seeding activities, has been completely immobilized by unfavourable weather forecasts. Prices show but small evolution, slightly moving downwards.


Australia: All barley pools 2008/2009 closed by ABB Grain

Australian agribusiness ABB Grain announced on February, 13 it has closed all of its 2008/09 season pools.

ABB’s previously open pools were its National Number 1 Wheat Pool, Number 2 Feed Barley Pool and Number 2 Malt Barley Pool, which have now all been closed effective immediately, the company said.

ABB’s pooled grain business unit manager Anthony Fitzgerald said these pools are closed for further deliveries except for existing contracts to deliver to the pools.

“The closure of these pools effectively ends our pool program for 2008/09, which is consistent with the approach we outlined in the run up to harvest,” said Mr Fitzgerald.

“History shows us that from this point onwards there are limited deliveries to pools, with the majority of remaining warehoused grain likely to be sold for cash.

“While grower deliveries to our pools have been finalised, the work involved in marketing the barley, wheat, and canola delivered to the pools continues,” said Mr Fitzgerald. “And the first distribution to growers that elected the quarterly distribution cash flow alternative will be in late March.”

ABB Grain has maintained the estimated pool returns for all its pools. ABB has reduced its grower indicator rate to 7.65%, down from 8.85%, following the recent move ...More Info


Hops News

Ukraine: Hop crop 2008 sees no demand

Despite the fact that domestically grown hops cover only 15% of the Ukrainian beer industry’s needs, the nation’s hop producers report problems with selling their crop 2008, Pivnoe-delo communicated on February, 13.

The situation is worsened by the economic crisis and the consequences of an extremely unsuccessful for the nation’s brewing sector year 2008. Besides, the Ukrainian market is invaded by resellers, and the hop growers are unable to sell their production directly to brewers.

According to Ivan Doskoch, General Director of NVP Zapad-Khmel, Ukraine produced more than 900 tonnes of hops last year. “This is not much, taking into account the needs of our beer industry,” he said. “According to Ukrpivo data, the hops needs of Ukrainian brewers in 2009 are 6 thousand tonnes (alpha acid 3.5). Consequently, domestically produced hops covers only 15% of the needs, and Ukraine’s brewers have to import the missing amounts,” he notes.

However, Ukrainian brewers are not eager for buying domestic hops. “The volumes and the quality of our hops are constantly improving. But this year we have faced difficulties in selling our production. Brewers take their times in purchasing hops. 2008 was unsuccessful for the beer industry, they had problems with sales. Besides, beer product ...More Info

Scientific Digest

The Relevance of Different Enzymes for the Hydrolysis of beta-glucans in Malting and Mashing

Makoto Kanauchi and Charles W Bamforth

Abstract:
beta-Glucosidase and to a lesser extent endo-beta1-4-glucanase are present in significant quantity in raw barley. These enzymes, as well as endo-beta1-3, 1-4-glucanase, endo-beta1-3-glucanase and exo- beta1-3-glucanase, increase in activity during steeping and germination. Exo-beta1-3-glucanase stands apart through its very late development during germination and it may be a limiting enzyme in malts that have not received substantial modification. Three separate exo-glucanases were located in malt and each of them displayed a preference for beta1-3 linkages. As the principle product of endo-beta1-3, 1-4-glucanase is oligosaccharides with a beta1-4 linkage at the non-reducing end (from which end exo enzymes approach the substrate), this is likely to be a second reason (alongside the late development of the enzyme) why such oligosaccharides survive in significant quantities into wort. A third contributing factor may be the sensitivity of the exoglucanasesto ions such as potassium, sodium and magnesium. Key words: Barley, endo, exo, glucanase. Load full article, 6 pages, 347 Kb, PDF file

Barley Prices

French Malting Barley Prices. Nominal prices
EURO = USD 1.2861 February 13, 2009 
 Crop year   2008   2009 
 Parity   FOB Creil   FOB Creil 
 Position   July 2008   July 2009 
Type   Variety  EURO  USD  EURO  USD 
2RS  Scarlett  129.00  166.00  162.00  208.50 
2RS  Prestige  128.00  165.00  161.00  207.50 
2RS  Cellar  127.00  163.50  160.00  206.00 
2RS  Sebastien  126.00  162.50  159.00  204.50 
2RS  Tipple  126.00  162.50  159.00  204.50 
2RS  Henley  126.00  162.50  159.00  204.50 
6RW  Esterel   119.00  153.50  140.00  180.50 

French Feed Barley Prices. Nominal prices
EURO = USD 1.2861 February 13, 2009
Crop year 2008
Parity FOB Creil
Position July 2008
Type EURO USD
Feed Barley 109.00 140.18


Theoretical Malt Prices

EURO = USD 1.2861 February 13, 2009 
Crop year  2008 
Parity  FOB Antwerp 
Position  Feb 2009 - Sept 2009 
Conditioning  Bulk   In bags  Bulk containers Bags, containers
Malting barley variety  EURO USD EURO  USD EURO USD  EURO  USD
2RS  Scarlett  349.50  449.50  381.00  489.50  373.00  480.00  387.50  498.00 
2RS  Prestige  348.50  448.00  379.50  488.00  372.00  478.50  386.00  496.50 
2RS  Cellar  347.00  446.50  378.50  486.50  370.50  476.50  385.00  495.00 
2RS  Sebastien  346.00  445.00  377.00  485.00  369.50  475.00  383.50  493.50 
2RS  Tipple  346.00  445.00  377.00  485.00  369.50  475.00  383.50  493.50 
2RS  Henley  346.00  445.00  377.00  485.00  369.50  475.00  383.50  493.50 
2RS   Average price  347.00  446.50  378.50  486.50  370.50  476.50  385.00  495.00 
6RW  Esterel   336.50  433.50  368.50  474.00  361.00  464.00  375.00  482.50 
Asia Malt 70/30  344.50  442.50  375.50  482.50  367.50  473.00  382.00  491.00 
**  Asia Malt 50/50  342.50  440.00  373.50  480.50  365.50  470.50  380.00  488.50 


EURO = USD 1.2861 February 13, 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  382.50  491.50  413.50  531.50  406.00  522.00  420.00  540.50 
2RS  Prestige  381.00  490.00  412.50  530.50  404.50  520.50  419.00  538.50 
2RS  Cellar  380.00  488.50  411.00  528.50  403.50  518.50  417.50  537.00 
2RS  Sebastien  378.50  487.00  410.00  527.00  402.00  517.00  416.50  535.50 
2RS  Tipple  378.50  487.00  410.00  527.00  402.00  517.00  416.50  535.50 
2RS  Henley  378.50  487.00  410.00  527.00  402.00  517.00  416.50  535.50 
2RS   Average price  380.00  488.50  411.00  528.50  403.50  518.50  417.50  537.00 
6RW  Esterel   354.50  457.00  386.50  497.00  378.50  487.00  393.00  505.50 
Asia Malt 70/30  372.50  479.00  403.50  519.00  396.00  509.50  410.50  527.50 
**  Asia Malt 50/50  367.50  472.50  398.50  513.00  391.00  503.00  405.50  521.50 

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

China Barley Supply and Disposition

in thousand metric tons 1998
1999
1999
2000
2000
2001
2001
2002
2002
2003
2003
2004
2004
2005
2005
2006
2006
2007
2007
2008
2008
2009f
TY Exports  49  81  25 
TY Imports  1986  2111  2300  1913  1792  1519  2049  2217  1127  1091  1300 
Production  2656  2970  2645  2893  3322  2717  3222  3400  3300  3185  3400 
Total consumption  5209  5131  4926  4500  4900  4700  5350  5400  4450  4250  4700 
Note: Trading Year (TY) statistics are on Oct/Sept years. Source: USDA
Graph of the Week



These Days in Business History
12th February
1719 - The Onderlinge van 1719 u.a., the oldest existing life insurance company in the Netherlands is founded
1873 – US Congress abolishes bimetallism & authorizes $1 & $3 gold coins

13th February
1920 - League of Nations recognizes perpetual neutrality of Switzerland
1959 - Barbie doll goes on sale
1985 - Dow Jones closes at 1297.92 (record high) after topping 1300 earlier

14th February
1966 - Australian currency is decimalised
1978 - 1st "micro on a chip" patented by Texas Instruments

15th February
1946 - Bank of England nationalized
1972 - Sound recordings are granted U.S. federal copyright protection for the first time
2005 - YouTube, the popular Internet site on which videos may be shared and viewed by others, is launched in the United States
Agenda