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E-Malt.com Newsletter 34b
August 20 - August 23, 2009
Open!
Click here to get full size Newsletter


Quote of the week

" Go back a little to leap further"
John Clarke
E-Malt.com recommends:


Currency Rates
Base Currency: Euro, EUR
on 21-August-2009

1 EUR = 1.4233 USD
1 EUR = 0.8618 GBP
1 EUR = 1.5581 CAD
1 EUR = 1.7142 AUD
1 EUR = 134.11 JPY
1 EUR = 2.6259 BRL
1 EUR = 45.3414 RUB
1 EUR = 9.7387 CNY
Base Currency: US Dollar
on 21-August-2009

1 USD = 0.7026 EUR
1 USD = 0.6054 GBP
1 USD = 1.0947 CAD
1 USD = 1.2044 AUD
1 USD = 94.2207 JPY
1 USD = 1.8449 BRL
1 USD = 31.8556 RUB
1 USD = 6.8421 CNY
Currency Rates Chart

Equities of the Largest Breweries

Equities of the Largest Breweries

Average Market Prices Change trend

August 21, 2009

Type Crop 2008 Crop 2009
2rs Barley nq   EUR102.0-106.0
6rw Barley nq   EUR102.0-106.0
2rs Malt EUR320.0-324.0 EUR299.0-303.00 0.33%
6rw Malt EUR314.5-318.5 EUR298.0-302.0 0.33%
Feed Barley nq    EUR95.0-99.0 1.04%

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

The Netherlands: Heineken forecast to post revenue growth for the first half of this year ...Click here
Turkey: Anadolu Efes buys only 3.24% of shares from Efes Breweries International minority shareholders ...Click here
Colombia & Ecuador: Colombian brewer Bavaria to divest its stake in Ecuadorian beer maker ...Click here
Poland: Beer growth pace slows in 2008, consumers prefer canned brews ...Click here
Thailand: Thailand’s largest brewer eyes acquisitions in several foreign and domestic beverage firms ...Click here
The Czech Republic: Brewer Rodinny pivovar Bernard maintains in the first half the positive trend of last year ...Click here
Canada: CWB reminds: no pre-harvest chemicals in malting barley ...Click here


More News


South Korea: Beer market resilient in 2008 ...More Info
Thailand: Thai consumers expected to continue preferring spirits to beer ...More Info
United States: Money-conscious Americans turn to boutique beers ...More Info
Germany: No beer labels amid crisis ...More Info
Malaysia: Malaysia’s beer preferences in the spotlight ...More Info
Belarus: Export prices for Belarusian malt are absurdly lower than those set for the domestic market ...More Info
United Kingdom: Budvar Yeast Beer for the first time available outside the Czech Republic ...More Info
United States: Beers not containing malted barley or hops to be labelled under the US Food and Drug Administration ...More Info
Canada: Brick Brewing launches first Ontario-brewed lime beer ...More Info
Vietnam: SABMiller to introduce Miller High Life to Vietnam ...More Info
Russia: Efes adds some lemon to its Gold Mine Beer ...More Info
Go to our news database with more than 15640 articles.
Today with the possibility to be translated in 7 different languages!
DE FR SP IT PT RU CN

Brewery News

The Netherlands: Heineken forecast to post revenue growth for the first half of this year

Netherlands-based Heineken NV, the world's third largest brewer, is expected to post an 8.3 percent rise in first half revenue, driven by its part purchase of Scottish & Newcastle (S&N), Reuters reported on August, 19.

According to the average in a Reuters poll of 15 analysts, the Dutch brewer is expected to report earnings before interest and tax (EBIT), prior to exceptionals, of 927 million euros.

Beer volume in money terms is forecast to grow 4.9% to 61.5 mln euros in the first half. Revenues are expected to reach 6.943 bln euros. The net profit, however, is expected to be 0.2% lower than last year, at 407 mln euros.


Turkey: Anadolu Efes buys only 3.24% of shares from Efes Breweries International minority shareholders

Turkish brewer Anadolu Efes said on August, 20 it has acquired only 3.24%, or 6,858,785 shares of the issued share capital of Efes Breweries International (EBI), its subsidiary operating in the CIS and Georgia.

On 20 July 2009, Anadolu Efes made a recommended cash offer for the entire issued share capital of EBI other than the 148,457,429 shares already owned by Anadolu Efes (which represent approximately 70.22 per cent. of the issued share capital of EBI) at an offer price of US$2.22 in cash for each EBI Share, valuing each EBI GDR at US$11.10.

As at 1.00 p.m. (London time) on 19 August 2009 (being the first closing date of the Offer), Anadolu Efes had received valid acceptances in respect of 6,858,785 EBI Shares, representing approximately 3.24 per cent of the issued share capital of EBI.

Accordingly, as at 1.00 p.m. (London time) on 19 August 2009, the sum of EBI Shares that Anadolu Efes owned or for which it had received valid acceptances of the Offer was 155,316,214 EBI Shares, representing in aggregate approximately 73.46 per cent of the issued share capital of EBI.

The Turkish brewer declared the offer unconditional in all respects and said it will remain open for acceptance ...More Info


Colombia & Ecuador: Colombian brewer Bavaria to divest its stake in Ecuadorian beer maker

Bavaria S. A., SABMiller’s subsidiary in Colombia, will sell its 90.8% stake in Ecuadorian brewer Cervecería Nacional to SABMiller Latin America, Portafolio.com.co reported on August, 20.

The stake comprises more than 18 mln shares will be sold at US$29.17 each.

Total value of the transaction is estimated at US$542.7 mln.


Poland: Beer growth pace slows in 2008, consumers prefer canned brews

In Poland, the pace of growth of beer sales slowed down to 3% after an outstanding year in 2007, when volume sales increased by more than 9% again, Euromonitor posted in a report on the nation’s beer market early this year.

For one thing, the per capita consumption of beer has moved closer to saturation point. For another, the jump in prices resulting from growing prices of raw materials such as barley and hops as well as increasing pressure in terms of personnel costs tempered demand for beer. What is more, weather conditions, with a relatively mild summer with temperatures lower than the average over the last 10 years, did not provide any impetus for faster increases in sales. Finally, the competition for sales share continued to intensify. Concerns about the impact of the financial crisis on consumers’ budgets helped reduce demand for beer as well, experts explain.

The 2008 percentage volume sales increase was slower than the average annual rate of growth in the review period as a whole. The per capita consumption of beer was 95 litres in Poland in 2008. This means that space for growth is limited. Poland is the 10th biggest beer market in the world, and ...More Info


Thailand: Thailand’s largest brewer eyes acquisitions in several foreign and domestic beverage firms

Singapore-listed Thai Beverage, Thailand's largest brewer, is looking at acquiring stakes in beverage firms in Thailand, Philippines and Singapore, an executive was quoted by Reuters on August, 21.

"We are working on four due diligences on beverage firms - two in Singapore, one in Thailand and one in the Philippines," Sithichai Chaikriangkrai, a finance director at the firm, said.

He declined to give the names of the firms or the size of the stakes.

Philippine firm San Miguel Corp said earlier this month it is in talks with foreign groups to sell a substantial stake in its liquor arm Ginebra San Miguel Inc in coming months.

Beverage firms listed in Singapore include Del Monte Pacific , Fraser & Neave and Asia Pacific Breweries.

Sithichai said Thai Beverage had also been approached by global investment banks, namely Barclays, Goldman Sachs, JPMorgan and Royal Bank of Scotland to acquire beverage firms in Russia, India, Sri Lanka and China.

"Our goal is to have international revenues to account for a third of our revenues in three years, from about 5 percent now," Sithichai said.


The Czech Republic: Brewer Rodinny pivovar Bernard maintains in the first half the positive trend of last year

Czech brewery Rodinny pivovar Bernard returned to the black last year, posting a net profit of nearly Kc6 mln against a loss of Kc7.7 mln in 2007, CTK reported on August, 21.

Total sales grew from Kc277.7 mln in 2007 to Kc350.6 mln in 2008. Beer sales alone exceeded Kc328 mln against Kc251 mln in 2007.

"The growth was caused by an increase in total output as well as a rise of the Bernard beer price," the company’s annual report says.

The brewery's output in 2008 increased by 20 percent year-on-year to a record-high 188,000 hectolitres of beer. Exports accounted for more than 12 percent of the total output. The volume of exported beer grew by nearly 29 percent to 23,300 hectolitres. Half of this amount went to Slovakia. The exports also headed for Russia, Sweden, Australia, Japan, the USA and other countries.

This year the company plans to raise revenues from sales of beer by 8.4 percent and to reach a profit of around Kc8.5 mln.

In Jan-June this year the brewery raised beer output by 5 percent year-on-year to 95,455 hectolitres in spite of the overall decrease in domestic beer industry output, spokesman Zdenek Mikulasek said.

The brewery's beer sales in H1 2009 grew ...More Info


Barley News

Canada: CWB reminds: no pre-harvest chemicals in malting barley

Canadian Wheat Board reminds Canadian farmers that maltsters have zero tolerance for the use of pre-harvest chemicals such as glyphosate on malting barley, Saskatoonhomepage.ca posted on August, 19.

According to Doug Munro, the CWB's malting barley program manager, maltsters are even more concerned that this summer's adverse weather conditions and late harvest may lead to increased use.

The caution against glyphosate applies only to malting barley and is not a concern for other crops like wheat, durum and feed barley, Munro said.

He understands there may be some confusion among farmers, because some companies are sending mixed messages about glyphosate use.

Munro says it is an industry standard that there is a zero tolerance for desiccants or any glyphosate residue on malting barley and the policy isn't new.

Zero tolerance for glyphosate residues on malting barley has been part of selected barley contracts for many years.

He says if it was found, due to the conditions in the contract, the barley would be rejected.

If farmers have questions about glyphosate use they should contact their selector, the malt companies, or the grain companies.

Munro says when using any chemicals on malting barley, farmers need to strictly follow label rates and pre-harvest intervals.

Scientific Digest

Effect of High Temperature–High Humidity Treatment of Germinated Unkilned Barley on Malt Quality and Extract Characteristics

S. Tejinder

Abstract:
J. Inst. Brew. 113(2), 219–227, 2007 The effect of a high temperature–high humidity treatment (HTHHT) of germinated unkilned barley on malt quality and extract characteristics was studied. Two samples of six-row barley were steeped to 42% moisture and germinated, with and without gibberellic acid, at 15°C for 5 days. The germinated barley was placed in a high humidity (75–80%) atmosphere maintained at 45, 55, and 65°C, respectively. For each temperature, treatments were carried out for 30, 60 and 90 min, respectively. At 45°C for 30–60 min, the malts developed high diastatic power and proteolytic activity. The high values for cold water extract and reducing sugars in the extracts indicated extensive amylolysis of starch granules during HT-HHT of the germinated barley at 55– 65°C. The worts were light in colour, with a pH of 5.3–5.8 and titratable acidity was in the range of 0.09–0.23%. A consistent increase in soluble nitrogen and Kolbach index was observed in the malts treated at 45–55°C for 30–90 min. Free -amino nitrogen of the malts was in the desirable range of 120–150 mg L–1. Therefore, HT-HHT can be useful for improving malt modifica tion and wort characteristics and to shorten the germination time for malts from poor quality barley. Key words: Extract analysis, germinated unkilned barley, high temperature–high humidity treatment, Kolbach index, malt. Load full article, 9 pages, 620 kb , PDF file

Barley Prices

French Malting Barley Prices. Nominal prices
EURO = USD 1.4233 August 21, 2009 
 Crop year   2008   2009 
 Parity   FOB Creil   FOB Creil 
 Position   July 2008   July 2009 
Type   Variety  EURO  USD  EURO  USD 
2RS  Scarlett  nq nq 106.00  151.00 
2RS  Prestige  nq nq 105.00  149.50 
2RS  Cellar  nq nq 104.00  148.50 
2RS  Sebastien  nq nq 103.00  146.50 
2RS  Tipple  nq nq 103.00  146.50 
2RS  Henley  nq nq 103.00  146.50 
6RW  Esterel   nq nq 104.00  148.50 

French Feed Barley Prices. Nominal prices
EURO = USD 1.4233 August 21,2009
Crop year 2009
Parity FOB Creil
Position July 2009
Type EURO USD
Feed Barley 97.00 138.06


Theoretical Malt Prices

EURO = USD 1.4233 August 21,2009 
Crop year  2008 
Parity  FOB Antwerp 
Position  Aug 2009 - Sept 2009 
Conditioning  Bulk   In bags  Bulk containers Bags, containers
Malting barley variety  EURO USD EURO  USD EURO USD  EURO  USD
2RS  Scarlett  324.50  462.00  356.00  506.50  348.00  495.50  362.50  515.50 
2RS  Prestige  323.50  460.00  354.50  504.50  347.00  493.50  361.00  514.00 
2RS  Cellar  322.00  458.50  353.50  503.00  345.50  492.00  360.00  512.00 
2RS  Sebastien  321.00  456.50  352.00  501.00  344.50  490.00  358.50  510.50 
2RS  Tipple  321.00  456.50  352.00  501.00  344.50  490.00  358.50  510.50 
2RS  Henley  321.00  456.50  352.00  501.00  344.50  490.00  358.50  510.50 
2RS   Average price  322.00  458.50  353.50  503.00  345.50  492.00  360.00  512.00 
6RW  Esterel   316.50  451.50  348.50  496.00  340.50  485.00  355.00  505.00 
Asia Malt 70/30  320.50  456.50  352.00  500.50  344.00  490.00  358.50  510.00 
**  Asia Malt 50/50  319.50  455.00  351.00  499.50  343.50  488.50  357.50  508.50 


EURO = USD 1.4233 August 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  303.50  432.00  334.50  476.50  327.00  465.50  341.00  485.50 
2RS  Prestige  302.50  430.00  333.50  474.50  325.50  463.50  340.00  483.50 
2RS  Cellar  301.00  428.50  332.00  472.50  324.50  461.50  338.50  482.00 
2RS  Sebastien  299.50  426.50  331.00  471.00  323.50  460.00  337.50  480.50 
2RS  Tipple  299.50  426.50  331.00  471.00  323.50  460.00  337.50  480.50 
2RS  Henley  299.50  426.50  331.00  471.00  323.50  460.00  337.50  480.50 
2RS   Average price  301.00  428.50  332.00  472.50  324.50  461.50  338.50  482.00 
6RW  Esterel   300.00  428.50  332.00  472.50  324.50  461.50  338.50  482.00 
Asia Malt 70/30  301.00  428.50  332.00  472.50  324.50  461.50  338.50  482.00 
**  Asia Malt 50/50  301.00  428.50  332.00  472.50  324.50  461.50  338.50  482.00 

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

Table of the Week

EU Malt Export Licence Fixations

(in tonnes) 2006-2007 2007-2008 July 01, 2008 -
May 31, 2009*
France 460,829 357,498 288,416
Germany 239,633 352,420 222,843
Belgium 531,606 578,586 728,749
Bulgaria 1,270 2,860 738
U.K. 114,156 106,867 116,822
Finland 70,783 60,217 41,080
Denmark 72,374 99,380 50,068
Sweden 90,550 96,700 78,698
Netherlands 78,754 90,756 91,164
Ireland 2,250 - -
Italy 181 3,148 2,210
Austria 22,743 9,085 5,165
Spain - - 17,760
Romania - 500 -
Portugal 992 476 926
Czech Republic 41,769 25,203 18,711
Poland - 2,025 2,066
Hungary 5,474 2,638 10,002
Slovakia 23,157 16,645 14,586
Latvia 2,127 1,485 347
Lithuania 172 1,855 1,037
Total EU 2,180,986 1,756,691 1,691,385

Total Roasted malt, tonnes
July 01, 2008 - May 31, 2009 35,550
Total 2006 - 2007 30,084
Total 2007 - 2008 28,177
*) Eurostat statistics of actual export shipments
Graph of the Week



These Days in Business History
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August 21
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1975 U.S. lightens trade embargo against Cuba
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August 22
1864 International Red Cross forms
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August 23
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Agenda