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E-Malt.com Newsletter 10b
March 04 - March 07, 2010
Open!
Click here to get full size Newsletter


Quote of the week

"Beer is good food"
John Goodman
Currency Rates
Base Currency: Euro, EUR
on 05-March-2010

1 EUR = 1.3632 USD
1 EUR = 0.9054 GBP
1 EUR = 1.406 CAD
1 EUR = 1.5137 AUD
1 EUR = 120.955 JPY
1 EUR = 2.4422 BRL
1 EUR = 40.6719 RUB
1 EUR = 9.3198 CNY
Base Currency: US Dollar
on 05-March-2010

1 USD = 0.7337 EUR
1 USD = 0.6641 GBP
1 USD = 1.0314 CAD
1 USD = 1.1103 AUD
1 USD = 88.735 JPY
1 USD = 1.7915 BRL
1 USD = 29.8353 RUB
1 USD = 6.8366 CNY
Currency Rates Chart

Equities of the Largest Breweries

Equities of the Largest Breweries

Average Market Prices Change Trend

March 05, 2010

Type Crop 2009 Crop 2010
2rs Barley EUR95.0-99.0 EUR121.0-125.0 0.82%
6rw Barley EUR92.0-96.0 EUR109.0-113.0 1.83%
2rs Malt EUR276.0-280.0 EUR304.5-308.5 0.49%
6rw Malt EUR272.0-276.0 EUR289.5-293.5 0.87%
Feed Barley EUR87.0-91.0 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

World: Malt shipments slowing this campaign ...Click here
Belgium: AB InBev’s 2009 profit up despite a slight decline in beer sales ...Click here
Brazil: AmBev reports net profit, volumes growth for Q4 and full year 2009 ...Click here
China: Beijing Yanjing Brewery’s sales volume up 12% in 2009 ...Click here
Japan & Philippines: Kirin would like to have all 100% of San Miguel Brewery ...Click here
Russia: Beer and malt consumption forecast to decline further this year ...Click here
EU: Malting barley plantings may drop by as much as 20% ...Click here
Australia: Barley crop and malting barley share seen as disappointing ...Click here
South America: Local barley production still insufficient ...Click here


More News


United States & Canada: Molson Coors to consider acquisitions as long as they are ‘smart’ ...More Info
World: Top brewers expected to continue on their de-leveraging path and further strengthen their balance sheets ...More Info
Australia: Foster’s Group to offer more premium beers as mainstream brands lose popularity ...More Info
Spain: Barley plantings down 3.3% versus the previous season ...More Info
Mexico: Beer demand slightly rises in 2009 ...More Info
Latvia: Beer output increases by 5.6% in 2009 ...More Info
Czech Republic & Austria: Austrian consumers still fond of Budweiser Budvar ...More Info
Go to our news database with more than 16663 articles.
Today with the possibility to be translated in 7 different languages!
DE FR SP IT PT RU CN

Brewery News

Belgium: AB InBev’s 2009 profit up despite a slight decline in beer sales

AB InBev’ the world’s largest brewer, said on March, 4 it gained or maintained market share in markets representing approximately 70% of its total beer volumes.

However, the brewer’s total beer volumes decreased by 1.1% in the full year to 364.54 mln hl despite a slight increase of 0.7% in the last quarter. Own beer volumes grew 0.8% in Q4 and decreased by 0.8% to 358.78 mln hl in the full year 2009.

FY09 Focus Brand volumes grew 1.9% led by Antarctica, Brahma and Skol in Brazil, the Bud Light family in Canada, Budweiser and Harbin in China, and Stella Artois in the UK. In 4Q09 Focus Brand volumes grew 2.6%.

Revenue rose 2.5% to USD36.76 bln in FY09 and 5.1% to USD9.30 bln in 4Q09, with revenue per hl up 4.5% in FY09 and 4.1% in 4Q09.

FY09 EBITDA grew 16.6% to USD13.037 bln, with EBITDA margin of 35.5% compared to 30.8% in FY08 on a combined basis, up 415 bp organically. 4Q09 EBITDA rose 11.5% to USD3.105 bln with a margin of 33.4%, an organic improvement of 179 bp.

Normalized profit attributable to equity holders of AB InBev of USD3.927 bln in FY09 compares with USD2.511 bln in FY08 on a reported basis, ...More Info


Brazil: AmBev reports net profit, volumes growth for Q4 and full year 2009

Companhia de Bebidas das Américas (AmBev), AB InBev’s Brazilian division, announced on March, 4 its results for the 2009 fourth quarter (Q4 2009).

The company’s Q4 net sales grew 13.9% to 6.78 bln reias driven by volume growth in Brazil and HILA-Ex (Hispanic Latin America - Argentina, Bolivia, Chile, Paraguay, Uruguay) as well as price increases across all its regions, which drove net revenue/hl growth of 7.3% in the period.

Full year 2009 net sales increased by 11.1% organically to 23.19 bln reias.

Organic volume growth of 6.1% (to 47.03 bln reias) in the fourth quarter was driven by a 11.6% volume growth in Brazil and 11% of volume growth in HILA-Ex, which was partly offset by volume contraction of 6.5% in Latin America South and 5.6% in Canada.

Beer volumes grew organically 7.1% to 33.66 bln reias in Q4, and by 5.9% to 110.69 bln reias in the full year.

Normalized EBITDA reached 3.021 bln reias in Q4 2009, an organic growth of +9.1%, while margin contracted 200bps in the period to 44.6%, mainly due to higher accruals for variable compensation. Excluding these effects, normalized EBITDA would have grown by 13% and margins would have dropped by 40 bps, AmBev said. Operating cash ...More Info


China: Beijing Yanjing Brewery’s sales volume up 12% in 2009

Beijing Yanjing Brewery Co Ltd has announced a net profit of RMB 627.49 million for 2009, 36.03% more than in 2008, China Knowledge reported on March, 4.

The brewer’s operating revenue surged 15.08% from a year earlier, hitting RMB9.49 billion.

Earnings per share were RMB0.52 and a dividend of RMB0.16 per share will be paid, the company said.

In 2009, the brewery's sales volume increased 12% year on year, whereas the industry's sales volume grew only 7% year on year on average.

In Beijing, the beer producer's sales volume increased 13% year on year, and its market share was around 85%. During the period from July to December last year, the firm's average output reached nearly 5,000 kiloliters per day, and the highest daily output was 6,300 kiloliters.

In China's market excluding Beijing, brewery sales were 3.24 million kL, up 12% year on year. The firm sold 860,000 kL in Guangxi Zhuang Nationality Autonomous Region, 490,000 kL in Inner Mongolia Autonomous Region, 310,000 kL in Guangdong Province and 190,000 kL in Hunan Province.

Beijing Yanjing Brewery plans to issue up to RMB1.2 billion worth of convertible bonds with interest rates ranging from 0.5% to 2%.

The proceeds from the issuance will be used to ...More Info


Japan & Philippines: Kirin would like to have all 100% of San Miguel Brewery

Kirin Holdings wants to raise its 48 percent stake in San Miguel Brewery in the Philippines, possibly as high as 100 percent, to help fuel its overseas expansion, the incoming president of the Japanese brewer was quoted as saying by Reuters on March, 5.

“We’d like to take a majority” of San Miguel Brewery Inc. from the current 48 percent if its parent is willing to sell, Senji Miyake, who will become Kirin’s president this month, said in an interview.

“We’re not in hurry,” he said, declining to say whether they’re in talks.

Japanese beverage makers are accelerating overseas expansion to tap wider margins and offset falling domestic beer sales. The brewer of Kirin Lager and Ichiban Shibori has spent about $7 billion on overseas purchases in the past three years, including taking Lion Nathan Ltd. private. Kirin on Feb. 8 ended talks to buy Suntory, balking at the $10 billion asking price.

“Kirin may now get going again and begin growing again, and most of the growth will come from outside Japan,” said Edwin Merner, president of Atlantis Investment in Tokyo, which manages about $3 billion in assets. Japan’s largest beverage company will focus expansion in Asian countries with growing populations and rising ...More Info


Russia: Beer and malt consumption forecast to decline further this year

Russia’s beer output dropped drastically in 2009 and will drop further this year, analysts communicated at the beginning of this month.

The nation’s beer consumption fell from 115.3 mln hl in 2008 to 103.5 mln hl in 2009 and is forecast to reach only 94 mln hl in 2010.

Both the reduction of output and the sharply reduced malt usage in beer production reduced malt needs by 50 % (as per a Russian industry expert).

Russia’s malting capacity is 1.889 mln tons, of which 47 % or 884,000 tons belongs to breweries. The forecast had been for a malt usage of 1.926 mln tons in 2009. Instead the usage was approx. one million tons, and stocks of half a million tons were piled up, which necessitate a further slowdown of production during this year, experts said.


Malt News

World: Malt shipments slowing this campaign

IGC’s latest statistics demonstrate the slowdown of export malt shipments during the present campaign.

Shipments were in July/November from Argentina 205,000 tons (last year 198,000), from the EU 726,000 (1,000,000), in July /December from Australia 357,000 tons (362,000), from Canada 371,000 tons (420,000) and from the U.S. 267,000 tons (317,000).


Barley News

EU: Malting barley plantings may drop by as much as 20%

With farmers all over the EU totally disillusioned with the performance of malting barley markets, plantings will be sharply reduced this spring and estimates of the acreage vary greatly, industry experts communicated earlier this month.

The guesstimates for the four key malting barley countries of the EU are as follows:

Denmark 410,000 ha (last year 449,000), France 460,000 (553,000), Germany 370,000 (427,000), U.K. 490,000 (751,000).

Other countries give following estimates: Austria and Sweden 15% less spring barley, Czech Republic less spring barley (no figure given), Poland less 20% and Finland less 30-40% spring malting barley.

If true, it would result in a 20% reduction of malting barley plantings in the EU, experts summed up.

Spring planting will take place much later this year than in 2009 after a long winter with frost and snow, followed by heavy storms in Western Europe during the past days. So far only the Mediterranean countries could plant much of their spring grains, France is reported to have seeded 3% of its total intentions, in the Charente along the Atlantic coast. It is possible that also the barley fields are completely destroyed by the devastating floods of last weekend.

Sales of certified seed and fertilizer are very disappointing; ...More Info


Australia: Barley crop and malting barley share seen as disappointing

Most private estimates give even lower barley crop figures than ABARE’s latest estimate of a disappointing barley crop in Australia, an analysts’ note said on March, 1.

According to industry sources, malting barley constitutes a low share of the total barley crop this year. The crop was affected by heat and dryness in Queensland and NSW, by a heat wave followed by heavy rain falls just before and during harvest in Victoria and South Australia, and mixed conditions in Western Australia, less good than last year.

ABARE’s official estimate of Australia’s barley production is set at 8.05 mln tonnes for 2009-10, whereas private estimates do not exceed 7.95 tonnes. The estimates of malting barley share vary between 1.61 to 1.97 mln tonnes, it is reported.

Quality problems are screenings, high and low protein, sprouted grains, it is reported.

It is reported that 600,000 tons of malting barley were already sold to China, and there is almost no further export surplus available. Bids in the country range from US$ 215,- to 235,- FOB seaport equivalent, but any large parcel would cost US$ 240,- equal 270,-/275,- CFR Chinese ports. Most sellers are withdrawn, anyway. Farmers withhold barley, adding to the tightness of markets, where some ...More Info


South America: Local barley production still insufficient

Argentina’s barley crop is estimated by both USDA and IGC at 1.6 mln tonnes. Though the quality is poor as drought has affected screenings and protein in most growing regions, the Argentinean malting and brewing industry will take as much as possible local barley, being tolerant on quality specifications. Estimates are that 400,000 tons can be exported.

Brazil needs imports of about 550,000 tons. Uruguay is self-sufficient, but has no export surplus. Import demand of Colombia/Ecuador/Peru is about 350,000 tons. Therefore South American imports are projected of half a million tons from Canada and the EU.

Chile reports 60% of its harvest is in the bins, quality so far good, it is possible that the country will need no imports.

Efforts to reintroduce the production of malting barley in Colombia and Peru have seen little success so far, industry sources reported.

Scientific Digest


Malt quality and wort filtration: comparison between laboratory and industrial wort filterability

A. DEBOURG, M. FONTEYN, F. HARMEGNIES AND L. VAN NEDERVELDE

ABSTRACT Several conventional malt analyses are done to measure parameters which could influence mash filtration. Nevertheless, they are difficult to integrate in a system allowing predicting processability and brewhouse performances of the malt. In this collaborative study a method developed by Meura for measuring filterability coefficient in a laboratory scale filtration has been tested and results were compared to malt behaviour in industrial mash filter process. Results were correlated to some malt analytical characteristics.
Cerevisia, 34 (3) 2009 http://www.cerevisia.eu


Barley Prices
EURO = USD 1.3632 March 05, 2010  
 Crop year   2009   2010 
 Parity   FOB Creil   FOB Creil 
 Position   July 2009   July 2010 
Type   Variety  EURO  USD  EURO  USD 
2RS  Scarlett  99.00  135.00  125.00  170.50 
2RS  Prestige  98.00  133.50  124.00  169.50 
2RS  Cellar  97.00  132.50  123.00  168.00 
2RS  Sebastien  96.00  131.00  122.00  166.50 
2RS  Tipple  96.00  131.00  122.00  166.50 
2RS  Henley  96.00  131.00  122.00  166.50 
6RW  Esterel   94.00  128.50  111.00  151.50 

French Feed Barley Prices. Nominal prices
EURO = USD 1.3632 March 05, 2010
Crop year 2009
Parity FOB Creil
Position July 2009
Type EURO USD
Feed Barley 89.00 121.32


Theoretical Malt Prices

  EURO = USD 1.3632 March 05, 2010 
Crop year  2009 
Parity  FOB Antwerp 
Position  Mar 2010 - Sept 2010 
Conditioning  Bulk   In bags  Bulk containers Bags, containers
Malting barley variety  EURO  USD  EURO  USD  EURO  USD  EURO  USD 
2RS  Scarlett  280.50  382.00  311.50  424.50  304.00  414.00  318.00  433.50 
2RS  Prestige  279.00  380.50  310.50  423.00  302.50  412.50  317.00  432.00 
2RS  Cellar  278.00  378.50  309.00  421.50  301.50  410.50  315.50  430.00 
2RS  Sebastien  276.50  377.00  308.00  419.50  300.00  409.00  314.50  428.50 
2RS  Tipple  276.50  377.00  308.00  419.50  300.00  409.00  314.50  428.50 
2RS  Henley  276.50  377.00  308.00  419.50  300.00  409.00  314.50  428.50 
2RS   Average price  278.00  378.50  309.00  421.50  301.50  410.50  315.50  430.00 
6RW  Esterel   274.00  373.50  305.50  416.00  297.50  405.50  312.00  425.00 
Asia Malt 70/30  276.50  377.00  308.00  419.50  300.50  409.50  314.50  428.50 
**  Asia Malt 50/50  276.00  376.00  307.00  418.50  299.50  408.50  313.50  427.50 


EURO = USD 1.3632 March 05, 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  309.00  421.00  340.00  463.50  332.50  453.00  346.50  472.50 
2RS  Prestige  307.50  419.50  338.50  461.50  331.00  451.50  345.50  470.50 
2RS  Cellar  306.50  417.50  337.50  460.00  330.00  449.50  344.00  469.00 
2RS  Sebastien  305.00  416.00  336.50  458.50  328.50  448.00  343.00  467.50 
2RS  Tipple  305.00  416.00  336.50  458.50  328.50  448.00  343.00  467.50 
2RS  Henley  305.00  416.00  336.50  458.50  328.50  448.00  343.00  467.50 
2RS   Average price  306.50  417.50  337.50  460.00  330.00  449.50  344.00  469.00 
6RW  Esterel   291.50  397.50  323.00  440.00  315.00  429.50  329.50  449.00 
Asia Malt 70/30  302.00  411.50  333.00  454.00  325.50  443.50  339.50  463.00 
**  Asia Malt 50/50  299.00  407.50  330.00  450.00  322.50  439.50  336.50  459.00 

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

US Beer Shipments of Largest Brewers and Beer Importers 2008-2009s
in '000 hl 2008 2009 % change
Anheuser-Busch* 125219 122616 -2.08
MillerCoors** 75465 74061 -1.86
Crown Imports*** 13552 12870 -5.03
Heineken USA 10483 10032 -4.30
Pabst 6903 6756 -2.12
Diageo/Guinness USA 3340 3100 -7.18
Boston Beer 2330 2369 1.66
Yuengling 2118 2369 11.82
Labatt USA 1807 1643 -9.06
*US unit of AB InBev; **Joint venture between SABMiller and Molson Coors;
***Importer of Corona, Corona Light, Modelo Especial, others
Source: Beer Marketer's Insights
Graph of the Week


Source: Axereal

These Days in Business History
March 4
1902 American Automobile Association, AAA, founded in Chicago
1977 1st CRAY 1 supercomputer shipped, to Los Alamos Laboratories, New Mexico
1991 Bank of Credit and Commerce International divests itself of 1st American Bank

March 5
1558 Smoking tobacco introduced in Europe by Francisco Fernandes
1868 Stapler patented in England by C. H. Gould
1924 Computing-Tabulating-Recording Corp becomes IBM

March 6
1899 "Asprin" patented by Felix Hoffmann
1926 Alan Greenspan, future chairman of the Federal Reserve, is born in New York City
1959 At a press conference in New York City, Texas Instruments executives demonstrate a new device invented by one of the company`s top engineers, Jack S. Kilby – the "integrated circuit."

March 7
1876 Alexander Graham Bell receives U.S. Patent for his "Improvement in Telegraphy".
1878 The Toronto Stock Exchange is incorporated
1932 Thousands of Ford Motor Co. workers stage a "Hunger March" to the immense River Rouge factory complex, protesting Henry Ford's decision to cut the company`s minimum wage from $7 per day to $4 per day.
Agenda