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E-Malt.com Newsletter 50a
December 07- December 09, 2009
Open!
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Quote of the week

"Beer will always have a definite role in the diet of an individual and can be considered a cog in the wheel of nutritional foods."
Bruce Carlton
Currency Rates
Base Currency: Euro, EUR
on 09-December-2009

1 EUR = 1.4798 USD
1 EUR = 0.9042 GBP
1 EUR = 1.5611 CAD
1 EUR = 1.6245 AUD
1 EUR = 131.421 JPY
1 EUR = 2.5841 BRL
1 EUR = 44.9821 RUB
1 EUR = 10.1186 CNY
Base Currency: US Dollar
on 09-December-2009

1 USD = 0.6758 EUR
1 USD = 0.611 GBP
1 USD = 1.055 CAD
1 USD = 1.0978 AUD
1 USD = 88.814 JPY
1 USD = 1.7463 BRL
1 USD = 30.3978 RUB
1 USD = 6.8379 CNY
Currency Rates Chart

Equities of the Largest Breweries

Equities of the Largest Breweries

Average Market Prices Change trend

December 09, 2009

Type Crop 2009 Crop 2010
2rs Barley EUR100.0-104.0 0.99% EUR122.0-126.0
6rw Barley EUR95.0-99.0 EUR112.0-116.0
2rs Malt EUR286.0-290.0 0.52% EUR311.5-315.5
6rw Malt EUR278.5-282.5 EUR298.5-302.5
Feed Barley EUR95.0-99.0 nq 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

The Netherlands & India: Heineken, United Breweries announce creation of a strong partnership ...Click here
United Kingdom & Mexico: Diageo rumoured to be among those interested in FEMSA Beer ...Click here
Russia & Kazakhstan: Baltika brands to be brewed by Carlsberg’s Kazakh unit under license ...Click here
Ukraine: Carlsberg not to build, may close a brewery in Ukraine ...Click here
EU: Malt markets remarkably good last month, international trade drops behind ...Click here
EU: New malting barley crop prices minimum to keep the production alive ...Click here
Australia: Australian barley crop seen as disappointment ...Click here
France: Winter barley plantings down an estimated 4% - FranceAgriMer ...Click here


More News


The Netherlands & Mexico: Heineken strongly recommended to buy FEMSA’s beer division ...More Info
United Kingdom: Government earning five times as much from beer as the brewing and pub companies - research ...More Info
Canada: Malting industry disappointed by CWB’s payments to farmers ...More Info
South Africa: SABMiller reaches broad-based black economic empowerment transaction ...More Info
Ireland: Brewers demanding excise rates cut ...More Info
Go to our news database with more than 16247 articles.
Today with the possibility to be translated in 7 different languages!
DE FR SP IT PT RU CN

Brewery News

The Netherlands & India: Heineken, United Breweries announce creation of a strong partnership

Dutch brewer Heineken N.V. announced on December, 7 it had signed a new shareholders’ agreement with Dr. Vijay Mallya and United Breweries Limited (“UBL”) and agreed the key terms for the brewing and distribution of the Heineken brand in India.

The new agreement creates a strong partnership that will drive growth in one of the world’s fastest growing and most exciting beer markets, the Dutch company said.

As part of the new agreement, Heineken will acquire APB India and in a subsequent transaction intends to transfer this into UBL during 2010.

Heineken also announced that it has strengthened and enlarged Asia Pacific Breweries Ltd (“APB”), its successful joint venture partnership with Fraser and Neave Ltd (“F&N”) through the transfer of Heineken’s controlling interest in PT Multi Bintang Indonesia (“MBI”) and Grande Brasserie de Nouvelle-Calédonie S.A. (“GBNC”). This will create a more profitable business and a stronger platform for growth in South East Asia and the Pacific Islands.

Heineken expects that the effect of the transactions will be broadly neutral at net profit (beia) level. As a result of the transaction, an exceptional book gain of EUR 145 million before tax will be realised in 2010. Consolidated net debt is expected to be ...More Info


United Kingdom & Mexico: Diageo rumoured to be among those interested in FEMSA Beer

Speculation is mounting that drinks giant Diageo has shown a tentative interest in acquiring some or all of Latin American conglomerate FEMSA's beer business, possibly as part of a consortium with another bidder, The Telegraph reported on December, 9.

The families that control FEMSA put its beer business, which includes brands such as Sol, on the market several months ago. Analysts expect the division to change hands for between $7.5 bln and $9 bln.

SABMiller has been tipped as the most likely buyer of FEMSA's beer unit and sources said it is in more advanced negotiations than rival bidders, such as Kirin, Heineken and Sapporo.

However, on December, 8, Credit Suisse analysts warned that a deal would not be that great for SABMiller if it fails to buy FEMSA's convenience store chain, Oxxo, that sells its beers.

"FEMSA Cerveza bought on its own may present serious challenges to SAB over time that may not be apparent after a transaction that is greeted positively by the market," said Credit Suisse.


Russia & Kazakhstan: Baltika brands to be brewed by Carlsberg’s Kazakh unit under license

Baltika Breweries announced on December, 9 that on 2 December 2009, the conclusion of a license agreement for production of Baltika brands at DERBES Brewery Ltd in Kazakhstan was approved via absentee balloting at the Extraordinary General Shareholders Meeting.

The decision was supported by more than 97% of shareholders participated in the vote.

Anton Artemiev, President of Baltika Breweries: "The result of the shareholders’ meeting has once again served to confirm the course of development for the company’s business in foreign markets. The conclusion of the license agreement will create additional opportunities to strengthen our brand portfolio in Kazakhstan, thus improving the company’s leading position in this attractive market."

Imrich Havris, President of DERBES Brewery Ltd: "The conclusion of this agreement and our close cooperation with a company as big as Baltika opens up ample opportunities for exchange of experience, and will also allow for an increase in the overall level of production of the company. Licensed production of Baltika’s brands will lead to an increase of the loading of our capacities and correspondingly the staff workload."

Complete unity in operating procedures for marketing, distribution, and sales for Baltika and DERBES is planned in the near future. This step marks an important stage in ...More Info


Ukraine: Carlsberg not to build, may close a brewery in Ukraine

Danish beer giant Carlsberg has decided against constructing a new plant in Ukraine, Interfax-Ukraine reported on December, 8.

Previously, Ukrainian media said Danish company was planning to invest $USD 30-40 million in the construction of a new facility in the Kharkiv region.

“We are not going to consider this project in the nearest future as we do not expect the nation’s beer consumption to increase,” Slavutich Carlsberg Group CEO said.

Moreover, in a press release published this week, the company said it may consider closing one of its plants in Ukraine, if the government increases pressure on the brewing industry.

According to Carlsberg, the Ukrainian beer market is the second largest in the CIS, the former Soviet Union. Since 1998 the consumption of beer per capita has been increasing. In 2008 it reached 64 litres. Compared to neighboring countries, this is relatively small figure and considerable further increase is still expected, analysts said.

In the super-premium segment Carlsberg Group brand Tuborg has taken the number one position with market share of 52% within the segment. Another Carlsberg brand Baltika has become a leader of premium segment with market share of 30% within the segment. Main local brand Slavutich sales increased by +28.5% in 2008.


Malt News

EU: Malt markets remarkably good last month, international trade drops behind

In November activity in the EU malt markets was remarkably good, however, negligible in international malt trade, industry observers reported at the beginning of December.

EU brewers purchased already a large part of their malt demand for 2011, German maltsters speak of 65 to 75%.

There were some vague enquiries from Brazilian brewers, but no EU sales were reported to overseas destinations. Some larger transactions were reported from Mercosur, Argentina to Brazil.

The large groups are well covered by their long-term agreements, but also purchased some lots of their open demand inside Europe. InBev U.K. was reported to have held an internet tender for a small lot for delivery inside the U.K., but the result is unknown yet.

There is still quite a large demand open for 2010, in Asia, Africa and particularly in Brazil. The open quantities, however, are firmly installed in the malt industry’s planning, and do not present new opportunities.


Barley News

EU: New malting barley crop prices minimum to keep the production alive

There is much speculation about the barley acreage in 2010, experts informed early in December.

Reports of 5% less acres seem to be very wrong. In the U.K. alone it is expected that increase of 14% in 2009 will be lost again, an additional reduction is deemed possible. Germany expects up to 20% less, estimates in France are pessimistic for the Beauce-Gatinais region, but point to a good acreage in the Champagne. Danish sources speak of 10% less spring barley.

A smaller total barley crop would not pose any problems, but smaller availabilities of spring malting barley would stabilize barley and malt markets, experts said.

Markets are ahead of next year’s crop results. Prices for malting barley of crop 2010 in Denmark, France, Germany and the U.K. are EUR 26,- to 30,- per ton above the levels of old crop barley. One must admit that those new crop prices are the minimum level to keep the production of malting barley alive, otherwise changes to the production of wheat, maize, rapeseed, pulses etc. will accelerate, experts said.

In that context it is most interesting to note that markets for the crop 2011 are again EUR 20,- higher. Malting barley demand in ...More Info


Australia: Australian barley crop seen as disappointment

As the Australian harvest is well advanced, but not finished yet, the results are preliminary and may have to be corrected later on, analysts commented earlier this month.

The crop is a disappointment, the local demand will be covered, though it will need more inter-state trade than normal, possibly even from the West to the South and Victoria, experts state.

The export surplus of 1st and 2nd grade malting barley will be somewhere between 0.5 mln and one million tons. Estimates are that 500,000 tons have already been sold to China.

Now farmers are holding back their barley, exporters are short and markets appreciated by US$ 40,- to 50,- within a short time, it is reported.


France: Winter barley plantings down an estimated 4% - FranceAgriMer

Farmers in France, Europe's biggest grain grower, have switched into soft wheat and durum at the expense of barley, which is in even more plentiful supply than had been thought, FranceAgriMer communicated recently.

Winter barley plantings are down an estimated 4.0% to 1.26 mln hectares in the face of prices which have dropped sufficient to run into European Union intervention buying levels.

French farmers have been, after their German peers, the biggest users of intervention buying – which is being suspended next year - offering 313,100 tonnes last month.

And French barley supplies look even richer than had been thought, with AgriMer raising by 433,000 tonnes its forecast for stocks at the end of 2009-10, thanks to a better harvest than had been thought and weaker exports.

At 3.80 mln tonnes, they will be more than twice those at the start of the season.

Forecasts for Europe's barley stocks were already "pointing to very volumes of supply, pushing down the price and reducing the chances of a bounce back", French consultancy Agritel said in a report earlier this week.

"Only a weather alert for the 2010 harvest could underpin quotes", Agritel said.

Scientific Digest


Thermal recycling of spent grain as environmentally friendly energy source

Christian Pecher, Flottweg AG

Paper based on a lecture given at the ARFB study day,
Meurice, Brussels, October 12th 2007

ABSTRACT As a result of various waste disposal regulations coming into force, dumping or open ground tipping of organic waste with total organic carbon content (TOC) exceeding 5% will be prohibited. Therefore, industry has now to look for ways in which waste substances from breweries can be used efficiently. The present paper investigates the possibility of using the spent grain as source for thermal energy. Benefits of spent grain combustion are discussed, presenting cost savings, taking into account byproducts like ash used as fertilizer additive and biogas production from presswater. Side-effects on beer quality are also considered.
Cerevisia, 33 (1) 2008 http://www.cerevisia.eu

Barley Prices
EURO = USD 1.4798 December 09, 2009  
 Crop year   2009   2010 
 Parity   FOB Creil   FOB Creil 
 Position   July 2009   July 2010 
Type   Variety  EURO  USD  EURO  USD 
2RS  Scarlett  104.00  154.00  126.00  186.50 
2RS  Prestige  103.00  152.50  125.00  185.00 
2RS  Cellar  102.00  151.00  124.00  183.50 
2RS  Sebastien  101.00  149.50  123.00  182.50 
2RS  Tipple  101.00  149.50  123.00  182.50 
2RS  Henley  101.00  149.50  123.00  182.50 
6RW  Esterel   97.00  143.50  114.00  169.00 

French Feed Barley Prices. Nominal prices
EURO = USD 1.4798 December 09,2009
Crop year 2009
Parity FOB Creil
Position July 2009
Type EURO USD
Feed Barley 97.00 143.54


Theoretical Malt Prices

  EURO = USD 1.4798 December 09, 2009 
Crop year  2009 
Parity  FOB Antwerp 
Position  Dec 2009 - Sept 2010 
Conditioning  Bulk   In bags  Bulk containers Bags, containers
Malting barley variety  EURO  USD  EURO  USD  EURO  USD  EURO  USD 
2RS  Scarlett  290.50  429.50  321.50  475.50  314.00  464.50  328.00  485.50 
2RS  Prestige  289.00  427.50  320.50  474.00  312.50  462.50  327.00  483.50 
2RS  Cellar  288.00  426.00  319.00  472.00  311.50  460.50  325.50  481.50 
2RS  Sebastien  286.50  424.00  318.00  470.50  310.00  459.00  324.50  480.00 
2RS  Tipple  286.50  424.00  318.00  470.50  310.00  459.00  324.50  480.00 
2RS  Henley  286.50  424.00  318.00  470.50  310.00  459.00  324.50  480.00 
2RS   Average price  288.00  426.00  319.00  472.00  311.50  460.50  325.50  481.50 
6RW  Esterel   280.50  416.50  313.00  463.00  305.50  451.50  319.50  472.50 
Asia Malt 70/30  286.00  423.00  317.50  469.50  309.50  458.00  323.50  479.00 
**  Asia Malt 50/50  284.50  421.50  316.00  467.50  308.50  456.00  322.50  477.00 


EURO = USD 1.4798 December 09, 2009, 
Crop year  2010 
Parity  FOB Antwerp 
Position  Oct 2010 - Sept 2011 
Conditioning  Bulk   In bags  Bulk containers Bags, containers
Malting barley variety  EURO  USD  EURO  USD  EURO  USD  EURO  USD 
2RS  Scarlett  316.00  467.50  347.50  513.50  339.50  502.50  353.50  523.50 
2RS  Prestige  315.00  465.50  346.00  512.00  338.50  500.50  352.50  521.50 
2RS  Cellar  313.50  464.00  344.50  510.00  337.00  498.50  351.50  520.00 
2RS  Sebastien  312.50  462.00  343.50  508.50  336.00  497.00  350.00  518.00 
2RS  Tipple  312.50  462.00  343.50  508.50  336.00  497.00  350.00  518.00 
2RS  Henley  312.50  462.00  343.50  508.50  336.00  497.00  350.00  518.00 
2RS   Average price  313.50  464.00  344.50  510.00  337.00  498.50  351.50  520.00 
6RW  Esterel   300.50  445.50  332.50  492.00  325.00  480.50  339.00  501.50 
Asia Malt 70/30  310.00  458.50  341.00  504.50  333.50  493.50  347.50  514.50 
**  Asia Malt 50/50  307.50  455.00  338.50  501.00  331.00  489.50  345.00  510.50 

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



EU Malt Export Licence Fixations:

(in tonnes) 2007-2008 2008-2009 July 01, 2009 -
September 30, 2009
France 357,498 323,305 84,272
Germany 352,420 241,245 43,400
Belgium 578,586 688,350 58,072
Bulgaria 2,860 804 231
U.K. 106,867 127,324 37,408
Finland 60,217 46,540 7,995
Denmark 99,380 54,942 12,636
Sweden 96,700 84,880 7,468
Netherlands 90,756 99,057 33,075
Ireland - - -
Italy 3,148 2,773 564
Austria 9,085 6,511 1,411
Spain - 19,058 445
Romania 500 - -
Portugal 476 1,028 221
Czech Republic 25,203 21,635 6,699
Poland 2,025 2,066 2
Hungary 2,638 13,099 6,687
Slovakia 16,645 16,796 4,713
Lithuania 1,855 1,038 203
Latvia - 347 110
Total EU 1,806,858 1,750,797 213,283

Total Roasted malt, tonnes
July 01, 2008 - September 30, 2009 12,011
Total 2008 - 2009 39,945
Total 2007 - 2008 28,177
Graph of the Week


Source: Beer Institute

These Days in Business History
December 07
1877 Thomas A Edison demonstrates the gramophone
1926 Gas refrigerator patented
1941 Japanese attack Pearl Harbor (a date that will live in infamy)
1945 Microwave oven patented

December 08
1794 1st issue of Herald of Rutland, VT published
1863 Abraham Lincoln announces plan for Reconstruction of South
1923 Salary and price freeze in Germany
1993 Dow-Jones hits record 3734.53

December 09
1793 Noah Webster establishes New York's 1st daily newspaper, American Minerva
1843 P Paul Leroy-Beaulieu French economist is born
1905 French Assembly National votes for separation of church & state
1916 P Paul Leroy-Beaulieu French economist (Economist France), dies at 73
1967 Nicolae Ceausescu becomes President (dictator) of Romania
1968 Doug Engelbart demonstrates first computer mouse at Stanford
Agenda