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E-Malt.com Newsletter 03a
January 11 - January 13, 2010
Open!
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Quote of the week

"Experience is not what happens to you; it is what you do with what happens to you."
Aldous Huxley
Currency Rates
Base Currency: Euro, EUR
on 13-January-2010

1 EUR = 1.4497 USD
1 EUR = 0.8991 GBP
1 EUR = 1.5013 CAD
1 EUR = 1.5662 AUD
1 EUR = 132.948 JPY
1 EUR = 2.5276 BRL
1 EUR = 42.7336 RUB
1 EUR = 9.9113 CNY
Base Currency: US Dollar
on 13-January-2010

1 USD = 0.6898 EUR
1 USD = 0.6202 GBP
1 USD = 1.0356 CAD
1 USD = 1.0804 AUD
1 USD = 91.7042 JPY
1 USD = 1.7435 BRL
1 USD = 29.4767 RUB
1 USD = 6.8366 CNY
Currency Rates Chart

Equities of the Largest Breweries

Equities of the Largest Breweries

Average Market Prices Change trend

January 13, 2010

Type Crop 2009 Crop 2010
2rs Barley EUR100.0-104.0 EUR125.0-129.0 0.79%
6rw Barley EUR94.0-98.0 1.03% EUR113.0-117.0
2rs Malt EUR284.0-288.0 EUR313.5-317.5 0.48%
6rw Malt EUR276.5-280.5 0.36% EUR298.5-302.5
Feed Barley EUR93.0-97.0 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

Netherlands & Mexico: FEMSA Beer acquired by Heineken ...Click here
Vietnam: Vietnam’s top brewer projects rise in domestic demand for beer in 2010 ...Click here
World: Beer mergers and acquisitions won’t stop, but it’s difficult to find sizeable targets - analysts ...Click here
Belgium & India: AB InBev may consider divesting its Indian unit - sources ...Click here
United States: Idaho barley growers without signal to grow acres this year ...Click here


More News


Belgium: Workers’ protests starting to have impact on AB InBev’s operations ...More Info
Greece: Government increases beer tax level ...More Info
Russia & Kazakhstan: Baltika Breweries licenses Carlsberg’s Kazakh subsidiary to produce two of its brands ...More Info
Mexico: Sale of brewing division knocks down FEMSA’s shares ...More Info
Australia: Farmers waiting for Hindmarsh malting trials results ...More Info
Australia: VB beer brand losing market share due to wrong positioning - report ...More Info
Denmark: Carlsberg’s Danish brewery unable to keep up with demand for canned beer ...More Info
South Africa: Breweries operate as usual - SABMiller ...More Info
Go to our news database with more than 16390 articles.
Today with the possibility to be translated in 7 different languages!
DE FR SP IT PT RU CN

Brewery News

Netherlands & Mexico: FEMSA Beer acquired by Heineken

Mexican beverage company Fomento Económico Mexicano, S.A.B. de C.V. (“FEMSA”) announced on January, 11 that its Board of Directors has unanimously approved a definitive agreement under which FEMSA will exchange its FEMSA Cerveza (beer) business unit for a 20% economic interest in Heineken.

Under the terms of the agreement, FEMSA will receive 43,018,320 shares of Heineken Holding N.V. and 72,182,201 shares of Heineken N.V., of which 29,172,502 will be delivered pursuant to an allotted share delivery instrument.

It is expected that the allotted shares will be acquired by Heineken in the secondary market for delivery to FEMSA over a term not to exceed five years.

Heineken also will assume US$ 2.1 billion of indebtedness including FEMSA Cerveza’s unfunded pension obligations. The total transaction is valued at approximately US$ 7.347 billion, based on closing prices of € 32.92 for Heineken N.V. and € 29.38 for Heineken Holding N.V. on January 8, 2010, including the assumed debt.

José Antonio Fernández Carbajal, Chairman of the Board and Chief Executive Officer of FEMSA, will join Heineken N.V.’s Supervisory Board as a Vice Chairman. Mr. Fernández will also serve as Chairman of the newly-formed Americas Committee and will be a member of the Heineken Holding N.V. ...More Info


Vietnam: Vietnam’s top brewer projects rise in domestic demand for beer in 2010

Vietnamese brewers will produce about 2.7 bln litres of beer this year to meet the rising demands of local consumers, Viet Nam News cited an estimate by the Sai Gon Alcohol, Beer and Beverage Corporation (Sabeco) on January, 13.

Sabeco, which currently accounts for roughly 35 per cent of the domestic beer market, also anticipated that the consumption of beer in Vietnam would have a growth rate of roughly 15 per cent in 2010 and in the next few years.

However, it also warned that the next three years would be hard for domestic beer producers as special consumption tax on beers, excluding draught beer, would decline from 75 per cent to 45 per cent. The tax on draught beer, meanwhile, would increase to 45 per cent from the current 40 per cent.

"This will be a chance for high-quality beer products brewed by foreign beer producers to enlarge their market share," Sabeco said.

Currently, local beer producers mainly concentrate on the draught beer market.

Viet Nam has a lot of potential for beer producers as consumption in the country currently averages out at 14 litres per capita a year, much lower than around 40 litres in Indonesia and 160 litres in Germany, experts ...More Info


World: Beer mergers and acquisitions won’t stop, but it’s difficult to find sizeable targets - analysts

Analysts do not expect the mergers and acquisitions trend in the brewing industry to stop, but the complexion of future deals is forecast to change, MarketWatch communicated on January, 11.

Heineken's acquisition of FEMSA Cerveza is only the lip of the mug when it comes to mergers and acquisitions in the global beer industry.

The biggest was the 2008 deal that saw Belgian InBev take over Anheuser-Busch for more than $50 billion, as well as Heineken and Carlsberg's joint acquisition of Scottish & Newcastle for $15 billion.

In 2005, a deal worth $3.3 billion created Molson Coors through the merger of Molson and Coors.

And Molson Coors got together with SABMiller to form MillerCoors, which is a conglomeration of their U.S. interests.

Currently, the four top players control about 50% of the global market. And in his remarks, Heineken CEO Francois van Boxmeer said it is likely they will soon gobble up another 25% between them.

"The trend toward global consolidation is continuing and there is a significant amount more of it that will happen," said Benj Steinman, editor of Beer Marketer's Insights.

FEMSA accounts for only a couple of percentage points in the global market, he noted, so there is plenty of ...More Info


Belgium & India: AB InBev may consider divesting its Indian unit - sources

Belgium-based world’s No. 1 brewer AB InBev may consider sale of shares in its standalone brewery Crown Beers India Pvt Ltd, Reuters cited on January, 12 sources directly familiar with the situation.

AB InBev, which is exploring an exit or a significant stake sale, is seeking a valuation of $30 mln for the brewery, sources claim.

The global giant has been open to either a total sale or a majority divestment in the fully-owned manufacturing unit, which is currently parked outside its marketing and distribution joint venture with New Delhi-based RJ Corp, a diversified conglomerate owned by serial entrepreneur Ravi Jaipuria, which is also India's largest bottler for PepsiCo.

AB InBev, which has a minority stake in this with RJ Corp, may not play an aggressive India game in the next 2-3 years, said one source in direct contact with the company, who confirmed that sale of shares in Crown Beers was a possibility if attractive suitors emerged. Any deal will have a clause for a long-term brewing of Budweiser and other AB InBev beers at Crown.

Crown Beers, which used to be the Indian arm of Anheuser Busch, came to the fold as part of the US brewer’s takeover by InBev in 2008. ...More Info


Barley News

United States: Idaho barley growers without signal to grow acres this year

As Idaho's barley producers begin planning for the 2010 crop, they are facing a much changed economic environment than just two years ago, AG Weekly communicated on January, 8.

Crop failures in key barley producing areas coupled with surging wheat prices, forced malting barley buyers to significantly increase contracts to compete. But good yields across all growing regions - even worldwide - have left elevators full of 2009 barley. Add to less demand for malting barley, and not only have contract prices been cut, but some growers are finding their acres cut as well.

"There is no signal to grow open market acres," said Kelly Olson, executive administrator of the Idaho Barley Commission.

Beer sales began to pick up in the third quarter of 2009 and that has brewers hoping that demand will continue to rebound as the economy picks up.

However, more brewers worldwide are releasing light beers, even those in Latin American countries that don't traditionally drink light beers.

Light beers require less malt and that will keep demand for malt lower even as beer consumption increases as the economy improves, Olson said.

To compete, growers will need to watch for opportunities to increase yields and cut costs.

IBC is also working with brewers ...More Info

Scientific Digest

Flow Cytometry for Age Assessment of a Yeast Population and its Application in Beer Fermentations

Michal Kurec, Martin Baszczynski, Radek Lehnert, André Mota, José A. Teixeira and Tomáš Brányik

J. Inst. Brew. 115(3), 253–258, 2009 ABSTRACT
An expeditious method of yeast age estimation was developed based on selective bud scar staining (Alexa Fluor 488-labelled wheat-germ agglutinin) and subsequent fluorescence intensity measurement by flow cytometry. The calibration curve resulting from the cytometric determination of average bud scar fluorescence intensities vs. microscopically counted average bud scar numbers of the same cell populations showed a good correlation and allowed routine cell age estimation by flow cytometry. The developed method was applied for yeast age control in traditional batch and continuous beer fermentations. At the pitching rates used in industrial beer fermentations, our results support former findings by locating a gradient of increasing yeast age from the top to the bottom zone of the fermenter cone. The results also indicate that in continuous beer fermentation, the increasing bud scar fluorescence of immobilized cells could help to schedule the replacement of aged biomass, prior to loss of viability or deterioration of process performance and product quality. Key words: aging, beer, bud scar, flow cytometry, staining, yeast.
Load full article, 6 pages, 557kb , PDF file

Barley Prices
EURO = USD 1.4497 January 13, 2010  
 Crop year   2009   2010 
 Parity   FOB Creil   FOB Creil 
 Position   July 2009   July 2010 
Type   Variety  EURO  USD  EURO  USD 
2RS  Scarlett  104.00  151.00  129.00  187.50 
2RS  Prestige  103.00  149.50  128.00  185.50 
2RS  Cellar  102.00  148.00  127.00  184.50 
2RS  Sebastien  101.00  146.50  126.00  183.00 
2RS  Tipple  101.00  146.50  126.00  183.00 
2RS  Henley  101.00  146.50  126.00  183.00 
6RW  Esterel   96.00  139.50  115.00  167.00 

French Feed Barley Prices. Nominal prices
EURO = USD 1.4497 January 13, 2010
Crop year 2009
Parity FOB Creil
Position July 2009
Type EURO USD
Feed Barley 95.00 137.72


Theoretical Malt Prices

  EURO = USD 1.4497 January 13, 2010 
Crop year  2009 
Parity  FOB Antwerp 
Position  Jan 2010 - Sept 2010 
Conditioning  Bulk   In bags  Bulk containers Bags, containers
Malting barley variety  EURO  USD  EURO  USD  EURO  USD  EURO  USD 
2RS  Scarlett  288.50  418.00  319.50  463.00  312.00  452.00  326.00  472.50 
2RS  Prestige  287.00  416.00  318.50  461.50  310.50  450.00  325.00  471.00 
2RS  Cellar  286.00  414.50  317.00  459.50  309.50  448.50  323.50  469.00 
2RS  Sebastien  284.50  412.50  316.00  457.50  308.00  446.50  322.50  467.50 
2RS  Tipple  284.50  412.50  316.00  457.50  308.00  446.50  322.50  467.50 
2RS  Henley  284.50  412.50  316.00  457.50  308.00  446.50  322.50  467.50 
2RS   Average price  286.00  414.50  317.00  459.50  309.50  448.50  323.50  469.00 
6RW  Esterel   278.50  403.50  309.50  449.00  302.00  437.50  316.50  458.50 
Asia Malt 70/30  283.50  411.00  315.00  456.50  307.00  445.00  321.50  466.00 
**  Asia Malt 50/50  282.00  409.00  313.50  454.00  305.50  443.00  320.00  463.50 


EURO = USD 1.4497 January 13, 2010 
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  317.50  460.50  349.00  505.50  341.50  494.50  355.50  515.50 
2RS  Prestige  316.50  458.50  347.50  504.00  340.00  493.00  354.50  513.50 
2RS  Cellar  315.50  457.00  346.50  502.50  339.00  491.00  353.00  511.50 
2RS  Sebastien  314.00  455.00  345.50  500.50  337.50  489.50  351.50  510.00 
2RS  Tipple  314.00  455.00  345.50  500.50  337.50  489.50  351.50  510.00 
2RS  Henley  314.00  455.00  345.50  500.50  337.50  489.50  351.50  510.00 
2RS   Average price  315.50  457.00  346.50  502.50  339.00  491.00  353.00  511.50 
6RW  Esterel   300.50  435.50  331.50  481.00  324.00  469.50  338.50  490.50 
Asia Malt 70/30  311.00  450.50  342.00  495.50  334.50  484.50  348.50  505.50 
**  Asia Malt 50/50  308.00  446.50  339.00  491.50  331.50  480.50  345.50  501.00 

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

Czech Hops Production and Acreage 2000 - 2009
  Production (t)
Variety/Year 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
Saaz 4532 6269 5992 4959 5407 6816 4718 4563 5563 5395
Sladek 168 153 217 256 195 471 364 488 549 568
Premiant 124 153 194 273 151 366 245 424 479 484
Bor 19 26 17 16 17 29 14 5 11 7
Agnus - - 6 16 52 125 87 120 114 124
Rest 22 20 16 6 16 24 27 30 37 38
Total 4865 6621 6442 5526 5838 7831 5453 5631 6753 6616
  Acreage (ha)
Variety/Year 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
Saaz 5913 5860 5639 5574 5519 5231 4926 4840 4748 4627
Sladek 82 92 152 163 378 202 222 215 239 275
Premiant 70 88 141 149 305 153 181 249 267 293
Bor 17 19 19 18 20 17 17 10 13 13
Agnus - - 3 19 69 52 51 51 51 58
Rest 13 16 13 19 21 17 17 24 26 39
Total 6095 6075 5967 5942 6311 5672 5414 5389 5344 5305
Source: Hop Growers Union of the Czech Republic
Graph of the Week


Source: FAS USDA

These Days in Business History
January 11
1757 Alexander Hamilton, future U.S. Secretary of the Treasury and founder of the American financial system, is born on the Caribbean island of Nevis
1759 1st American life insurance company incorporated, Philadelphia
1873 1st livestock market newspaper published, Drover's Journal, Chicago

January 12
1914 Henry Ford announces that he will share the Ford Motor Co.’s profits with its workers by raising wages from $2.34 for a nine-hour day to $5.00 for an eight-hour day.
1970 Boeing 747 makes its maiden voyage
1975 Chrysler Corp offers 1st car rebates

January 13
1785 John Walter publishes 1st issue of London Times
1942 Henry Ford patents a method of constructing plastic auto bodies
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