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E-Malt.com Newsletter 12b
March 19 - March 22, 2009
Open!
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Quote of the week

"The grand essentials of happiness are: something to do, something to love, and something to hope for."
Allan K. Chalmers
Currency Rates
Base Currency: Euro, EUR
on 20-March-2009

1 EUR = 1.3541 USD
1 EUR = 0.9436 GBP
1 EUR = 1.6809 CAD
1 EUR = 1.9883 AUD
1 EUR = 129.184 JPY
1 EUR = 3.0607 BRL
1 EUR = 45.5197 RUB
1 EUR = 9.2589 CNY
Base Currency: US Dollar
on 20-March-2009

1 USD = 0.7386 EUR
1 USD = 0.6969 GBP
1 USD = 1.2413 CAD
1 USD = 1.4681 AUD
1 USD = 95.4078 JPY
1 USD = 2.2603 BRL
1 USD = 33.616 RUB
1 USD = 6.8376 CNY
Currency Rates Chart

Equities of the Largest Breweries

Equities of the Largest Breweries

Average Market Prices Change trend

March 20, 2009

Type Crop 2008 Crop 2009
2rs Barley EUR112.0-116.0 1.72% EUR138.0-142.0 1.41%
6rw Barley EUR106.0-110.0 0.92% EUR119.0-123.0 2.42%
2rs Malt EUR329.5-333.5 0.90% EUR353.5-357.5 0.56%
6rw Malt EUR321.5-325.5 0.31% EUR329.0-333.0 1.05%
Feed Barley EUR97.0-101.0 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

Vietnam: SABMiller now full owner of brewery SABMiller Vietnam JV Co ...Click here
Czech Republic: Czech beer export increases 2.7% in 2008 ...Click here
Colombia: Bavaria brewery says domestic beer sales slightly decreased in 2008 ...Click here
United States: More than doubling the excise tax on beer is not an answer to economic crisis – Anheuser-Busch plant manager ...Click here
Mozambique: The only brewer suffers from losses ...Click here
Latvia: Beer sales fall 17% in January - February ...Click here
France: Barley exports to drop, ending stocks revised upward for 2008/2009 ...Click here
EU: Malting barley market blocked, feed barley sees small purchases in the north ...Click here




United Kingdom: British Beer & Pub Association asks Treasury officials to make duty lower on draught beers than on packaged alternatives ...More Info
Vietnam: Ministry of Industry and Trade says new players would hardly survive the competition in the nation’s beer industry ...More Info
Nigeria: Nigerian brewers rated “buy” by Renaissance Capital as analysts see significant opportunities for the nation’s beer consumption ...More Info
United States: MillerCoors to spend "well north of $100 million" on reviving its flagship Miller Lite ...More Info
Belgium & United Kingdom: AB InBev seeks to protect its brands online and in the media ...More Info
United Kingdom: British women drink only 13% of the beer sold in the country - research ...More Info
Zimbabwe: Beer taxes revenue keeps afloat Zimbabwe’s government ...More Info
Go to our news database with more than 14591 articles.
Today with the possibility to be translated in 7 different languages!
DE FR SP IT PT RU CN

Brewery News

Vietnam: SABMiller now full owner of brewery SABMiller Vietnam JV Co

SABMiller plc announced on March, 20 that it has signed an agreement with its JV partner, Vietnam Dairy Products Joint Stock Company (Vinamilk), to acquire Vinamilk's 50% interest in SABMiller Vietnam JV Company Limited (the Company).

Conditions to the transaction have been fulfilled and SABMiller Asia BV is now the sole shareholder in the Company, the world’s second-largest brewer posted on its official website.

The Company's assets which are the subject of the transaction totalled US$31.8 million at the fiscal year end, 31st December 2008.

The JV’s brewery is located in Binh Duong province and supplies the key markets of Ho Chi Minh City, Mekong Delta and Da Nang through an expanding distribution network. The beer industry in Vietnam is still relatively small with total volumes of 18.5 mln hl but is expected to grow significantly. Current per capita consumption is modest and is estimated to be 21 litres per annum.

Ari Mervis, Managing Director of SABMiller Asia BV, said: "Having acquired Vinamilk's interest in the Company, we look forward to developing and expanding our interests further in the growing and attractive Vietnamese beer market. Partnering with Vinamilk at the outset has benefited SABMiller significantly as a result of ...More Info


Czech Republic: Czech beer export increases 2.7% in 2008

Export of Czech beer increased slightly from 3.6 mln hl in 2007 to 3.7 mln hl last year, CTK cited Czech Beer and Malt Association data on March, 20.

The nation’s total beer production is estimated to have fallen to 19.8 mln hl from 19.9 mln hl registered in the previous year. The official results, however, will be released by the Association next week, it is reported.

According to Jan Vesely, head of Czech Beer and Malt Association (CSPS), the Czech brewing industry has suffered from the economic crisis. The same can be expected for the current year, he said.

“Czech Republic’s domestic beer consumption has remained at about 159 litres per capita and is increasingly relying on tourists,” Mr Vesely said.

Licensed production of Czech beer in Slovakia, Russia, Poland and Hungary remained at about 1.91 mln hl last year.


Colombia: Bavaria brewery says domestic beer sales slightly decreased in 2008

SABMiller’s Colombian subsidiary, Bavaria brewery, said its domestic sales of beer and other malt drinks amounted to 21.9 mln hl in 2008, Portafolio.com reported on March, 20.

The 2007 sales were 0.9% higher, estimated at 22.1 mln hl.

Nevertheless, the producer of Colombia’s best-selling beer said the second half of 2008 saw its sales increase by 12.2% compared to the first six months.

Bavaria’s operational profit dropped 3.2% last year, whereas its consolidated net profit fell 13.5% in comparison with 2007. The brewer attributed the drop to an increase of the distribution costs.


United States: More than doubling the excise tax on beer is not an answer to economic crisis – Anheuser-Busch plant manager

Across the US, governors and state legislators are trying to plug gaping holes in their budgets by increasing taxes on beer, St. Louis Today published on March, 19.

New York’s recent experience shows that making beer taxes heavier will be fraught with controversy. New York Gov. David Paterson’s idea of raising excise taxes to cover a $14 billion deficit brought protesters onto the streets…or at least into meeting rooms, it is reported.

The plan is falling flat, partly because Anheuser-Busch is allowing its workers to voice their vociferous objections. The company recently stopped production at a New York plant so workers from the 815-employee plant could go to news conference and blast the proposed tax hike - a 118 percent increase - in front of reporters.

About 300 people attended the conference in a large meeting room inside the brewery.

“We know these are challenging times,” said Plant Manager Steve McCormick. “We recognize that the state of New York, like so many other states, is confronting economic challenges and is evaluating steps to correct these problems.

“However, more than doubling the excise tax on an industry that provides good-paying jobs and generates revenue for the state is not the answer,” McCormick said.

The tax would ...More Info


Mozambique: The only brewer suffers from losses

Mozambique's sole brewing company, Cervejas de Mocambique (CDM - Beers of Mozambique), claims that it made a loss of six million US dollars between August 2008 and January 2009, allafrica.com reported on March, 19.

CDM director Jose Moreira said that in recent months consumption of CDM's beers had declined "drastically", and as a result the amount of unsold beer, stored in the company's warehouses, had soared.

By the end of February, there were 600,000 crates of beer in the CDM warehouses, Moreira said. Unsold stock meant heavy financial losses for the company, he claimed, particularly since CDM had already paid the taxes owed on this beer.

Moreira, who was speaking at a meeting between company managers and the Minister of Industry and Trade, Antonio Fernando, said that CDM was no longer producing at full capacity, and had reduced its imports of beer and hops.

With such a crisis of overproduction, it seems a strange time to increase the prices of CDM beer. Yet that is precisely what the company did on 2 March, announcing a price rise of about eight per cent for most of its brands. This is unlikely to make it any easier to move the 600,000 crates that Moreira ...More Info


Latvia: Beer sales fall 17% in January - February

During the first two months of 2009, the slump in Latvia’s beer sales constituted 17%, the Union of Russian Brewers communicated on March, 19.

According to experts, the industry development suffered from a negative trend in the Latvian economics, as well as from a sudden increase of the excise tax on beer.

The nation’s brewers lost about LVL1 mln in January – February. Another blow was delivered by imported beer, especially beer from Russia and Belarus which became more competitive in Latvia as a result of the devaluation of the national currencies.


Barley News

France: Barley exports to drop, ending stocks revised upward for 2008/2009

Despite falling prices, the estimate of France’s ending stock of barley for the 2008/2009 crop year has been increased, ONIGC posted on March, 11.

The forecast for the nation’s ending stocks of barley, previously set at 2.6 mln tonnes, was increased by 170,000 tonnes.

In 2008/2009, France is expected to harvest 12.3 mln tonnes of barley, of which more than 10.8 mln will be available for the market taking into consideration the opening stocks (0.7 mln tonnes) and the imported volumes estimated at 50,000 tonnes of barley.

France’s domestic use of barley has been maintained by the IGC at 2.4 mln tonnes, of which 1.5 mln tonnes will be used in the production of feed for animals.

The estimate of the nation’s sales to other EU members is unchanged (slightly over 3.4 mln tonnes).

IGC forecasts that in 2008/2009 crop year France will export to third countries about 1.1 mln tonnes of barley (estimate reduced by 100,000 tonnes since last month due to competition with Ukraine).

Malt exports are expected to remain stable on the level of the previous year: more than 1.2 mln tonnes.


EU: Malting barley market blocked, feed barley sees small purchases in the north

The cancellations of contracts registered last week on the European market of malting barley have blocked the market’s activity, La Depeche posted on March, 20.

This has made defining the level of malting barley prices a very difficult task, operators say.

The barley crop 2008 sees absolutely no demand. This is a disturbing situation as the offer of the crop is still large almost in all EU countries, experts report.

The feed barley market was livened up by small-scale deals in the north of the EU. Prices are influenced by the dynamics of wheat prices.

Scientific Digest

Effects of Wheat Protein Content on Endosperm Composites and Malt Quality

Yuhong Jin, Kaili Zhang and Jinhua Du

Abstract:
J. Inst. Brew. 114(4), 289–293, 2008 In this study, the malting performance of six traditional Chinese wheat varieties was evaluated. The effects of protein content on wheat endosperm composition and the malt quality were studied. The beta-glucan in the malt showed a positive correlation (r = 0.806, P<0.1) with the protein content of the wheat. With an increase in protein content, there was a significant linear decrease in extract (r = ..0.923, P<0.01) and Kolbach Index (r = ..0.850, P<0.05), but diastatic power, soluble protein and FAN gave a peak value at 16.0% protein content. Because of the suitable protein and starch content, the malt qualities of wheat W-3 were satisfactory. Extract was 81.7%, saccharification time was 6.5 min, diastatic power was 484.07WK, FAN was 136.58 mg/100 g, the Kolbach index was 40.0% and viscosity was 1.77 cP. Key words: beta-glucan, malt, protein, wheat. Load full article, 5 pages, 718 Kb, PDF file

Barley Prices

French Malting Barley Prices. Nominal prices
EURO = USD 1.3541 March 20, 2009 
 Crop year   2008   2009 
 Parity   FOB Creil   FOB Creil 
 Position   July 2008   July 2009 
Type   Variety  EURO  USD  EURO  USD 
2RS  Scarlett  116.00  157.50  142.00  192.50 
2RS  Prestige  115.00  156.00  141.00  191.00 
2RS  Cellar  114.00  154.50  140.00  189.50 
2RS  Sebastien  113.00  153.50  139.00  188.50 
2RS  Tipple  113.00  153.50  139.00  188.50 
2RS  Henley  113.00  153.50  139.00  188.50 
6RW  Esterel   108.00  146.50  121.00  164.00 

French Feed Barley Prices. Nominal prices
EURO = USD 1.3541 March 20, 2009
Crop year 2008
Parity FOB Creil
Position July 2008
Type EURO USD
Feed Barley 99.00 134.06


Theoretical Malt Prices

EURO = USD 1.3541 March 20, 2009, 2009 
Crop year  2008 
Parity  FOB Antwerp 
Position  Mar 2009 - Sept 2009 
Conditioning  Bulk   In bags  Bulk containers Bags, containers
Malting barley variety  EURO USD EURO  USD EURO USD  EURO  USD
2RS  Scarlett  334.50  452.50  365.50  494.50  357.50  484.50  372.00  503.50 
2RS  Prestige  333.00  451.00  364.00  493.00  356.50  482.50  370.50  502.00 
2RS  Cellar  331.50  449.00  363.00  491.50  355.50  481.00  369.50  500.50 
2RS  Sebastien  330.50  447.50  361.50  489.50  354.00  479.50  368.50  498.50 
2RS  Tipple  330.50  447.50  361.50  489.50  354.00  479.50  368.50  498.50 
2RS  Henley  330.50  447.50  361.50  489.50  354.00  479.50  368.50  498.50 
2RS   Average price  331.50  449.00  363.00  491.50  355.50  481.00  369.50  500.50 
6RW  Esterel   323.50  439.00  355.50  481.50  348.00  471.00  362.00  490.50 
Asia Malt 70/30  329.50  446.00  360.50  488.50  353.00  478.00  367.50  497.50 
**  Asia Malt 50/50  328.00  444.00  359.50  486.50  351.50  476.00  366.00  495.50 


EURO = USD 1.3541 March 20, 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  357.50  484.50  389.00  526.50  381.50  516.00  395.50  535.50 
2RS  Prestige  356.50  482.50  387.50  525.00  380.00  514.50  394.50  533.50 
2RS  Cellar  355.50  481.00  386.50  523.50  378.50  513.00  393.00  532.00 
2RS  Sebastien  354.00  479.50  385.50  521.50  377.50  511.00  391.50  530.50 
2RS  Tipple  354.00  479.50  385.50  521.50  377.50  511.00  391.50  530.50 
2RS  Henley  354.00  479.50  385.50  521.50  377.50  511.00  391.50  530.50 
2RS   Average price  355.50  481.00  386.50  523.50  378.50  513.00  393.00  532.00 
6RW  Esterel   331.00  449.50  363.00  491.50  355.50  481.50  369.50  500.50 
Asia Malt 70/30  348.50  471.50  379.50  513.50  371.50  503.50  386.00  522.50 
**  Asia Malt 50/50  343.50  465.00  374.50  507.50  367.00  497.00  381.50  516.50 

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

World Malt Imports 2008/2009f

REGION '000 tons
EUROPE 142
CIS & Baltics 195
Russia 120
Other 75
N & C AMERICA 1`020
Mexico 500
USA 270
Other 250
S AMERICA 1`308
Brazil 885
Venezuela 293
Other 130
N E ASIA 27
F E ASIA 1`555
Japan 500
Korea S 185
Philippines 155
Thailand 255
Vietnam 215
Other 245
AFRICA 612
Angola 70
Cameroun 62
Nigeria 77
South Africa 54
Other 349
OTHER/UNSP 11
TOTAL 4`870
Graph of the Week



These Days in Business History
March 19
1775 Poland and Prussia sign trade agreement
1831 1st U.S. bank robbery (City Bank, New York/$245,000)
1965 Indonesia nationalizes all foreign oil companies

March 20
1886 1st AC power plant in U.S. begins commercial operation, Massachusetts
1991 U.S. forgives $2 billion in loans to Poland

2000 Shares in MicroStrategy Inc., a hot software consulting firm, fall from $246.75 to $86.75 in a single day as chairman Michael Saylor announces that the company will have to slash its reported revenues and earnings for the past two years.

March 21
1868 In London, the prospectus for the earliest known mutual fund is published as the Foreign and Colonial Government Trust offers its shares to the public for 85 pounds sterling.1986 Pittsburgh Associates buy Pittsburgh Pirates for $218 million
1906 John D Rockefeller III is born, billionaire philanthropist (oil)
1986 199.22 million shares traded in New York Stock Exchange

March 22
1895 Auguste and Louis Lumière show their 1st movie to an invited audience
1933 Franklin D. Roosevelt makes wine and beer with up to 3.2% alcohol legal
1960 1st patent for lasers, granted to Arthur Schawlow and Charles Townes
Agenda