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E-Malt.com Newsletter 15b
April 08 - April 11, 2010
Open!
Click here to get full size Newsletter


Quote of the week

"Of beer, an enthusiast has said that it could never be bad, but that some brands might be better than others."
A.A. Milne
Currency Rates
Base Currency: Euro, EUR
on 09-April-2010

1 EUR = 1.3329 USD
1 EUR = 0.8757 GBP
1 EUR = 1.3412 CAD
1 EUR = 1.4395 AUD
1 EUR = 124.193 JPY
1 EUR = 2.3825 BRL
1 EUR = 39.2331 RUB
1 EUR = 9.1113 CNY
Base Currency: US Dollar
on 09-April-2010

1 USD = 0.7504 EUR
1 USD = 0.6569 GBP
1 USD = 1.0062 CAD
1 USD = 1.0799 AUD
1 USD = 93.1816 JPY
1 USD = 1.7874 BRL
1 USD = 29.4334 RUB
1 USD = 6.8355 CNY
Currency Rates Chart

Equities of the Largest Breweries

Equities of the Largest Breweries

Average Market Prices Change Trend

April 09, 2010

Type Crop 2009 Crop 2010
2rs Barley EUR93.0-97.0 EUR125.0-129.0
6rw Barley EUR91.0-95.0 EUR109.0-113.0
2rs Malt EUR272.0-276.0 EUR307.5-311.5
6rw Malt EUR269.5-273.5 EUR287.5-291.5
Feed Barley EUR86.0-90.0 1.12% 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

EU: Malt output down in Germany, France, UK ...Click here
Czech Republic: 2009 malt output declines versus the previous year’s record volume ...Click here
China: Tsingtao Brewery’s 2009 net profit soars, sales volume up 9.9% ...Click here
Czech Republic: Czech Beer and Malt Association members brew 5.9% less beer in 2009 ...Click here
Japan & India: Asahi Breweries at the threshold of India’s lucrative market ...Click here
Latin America: SABMiller happy with Latin America’s fast recovery ...Click here
EU: Demand for barley of crop 2010 not to exceed 10 mln tonnes - experts ...Click here
France: Total area under barley to drop by 11.6% ...Click here
Canada: Barley acreage to decline this year, CWB ships almost half of total amount planned for the crop year ...Click here


More News


India: Carlsberg confirms early stage of talks with AB InBev over India ...More Info
Australia: Hindmarsh barley a step closer to receiving malt accreditation ...More Info
Latvia: Aldaris starts distributing Tuborg beer ...More Info
Europe: Carlsberg names new CEO for its South East Europe operations ...More Info
Go to our news database with more than 16800 articles.
Today with the possibility to be translated in 7 different languages!
DE FR SP IT PT RU CN

Brewery News

China: Tsingtao Brewery’s 2009 net profit soars, sales volume up 9.9%

Tsingtao Brewery, China's best-known beer brand and No.2 brewer by volume, posted a 91.7 percent rise in second-half profit on rising beer sales and lower raw material costs, Reuters reported on April, 8.

The Chinese brewer said in the earnings statement that it aims to enlarge its market share and increase production volume in 2010 in an effort to tap the continuing recovery of the beer market in China.

Tsingtao said it had benefited from soft barley costs and a recovering beer consumption in China.

The Chinese brewer, in which Asahi Breweries holds more than 19 percent stake, said its July-December 2009 net profit rose to 610.22 million yuan ($78.6 million) from 318.4 million yuan a year earlier, according to Reuters calculations using data filed to the Shanghai stock exchange.

Full-year net profit was 1.25 billion yuan against 699.6 million yuan in 2008 (+ 79%).

In February, Tsingtao estimated that net profit for 2009 would rise 75-85 percent on efforts to cut costs, strengthen plant management, and improve brand integration and product mix.

Tsingtao said its sales volume rose 9.9 percent year-on-year to 59.1 hectolitres for the full year of 2009. Its sale volume rose 12.6 percent in the first half to 30.2 hectolitres.

Analysts are ...More Info


Czech Republic: Czech Beer and Malt Association members brew 5.9% less beer in 2009

Czech Beer and Malt Association has said that beer output of its members dropped by 5.9 percent last year compared with 2008, CTK reported on April, 9.

Beer exports declined by more than 10 percent, showing the first year-on-year drop in the history of the Czech Republic.

Absolute figures, that will also include results of breweries which are not members of the association, should be available in July.

"The Czech beer industry has been hit by a drop in demand, just like other segments, although this is not true about all breweries," the association's head Jan Vesely said.

In the past several years, there has been a trend of a slow but lasting shift to quality beers, Vesely said.

Demand for draught beer decreased by around 10 percent last year. In contrast, demand for lagers recorded a slight growth of 0.3 percent.

Output of non-alcoholic beer decreased by 1 percent in 2009, which was the first drop in the past 10 years.

Consumers' shift from weaker to stronger beers was even bigger on the domestic market, according to the association.

Output of draught beer for the Czech market declined by 10 percent, while output of lagers grew by almost 5 percent compared with 2008.

Consumption of bottled beer fell ...More Info


Japan & India: Asahi Breweries at the threshold of India’s lucrative market

Japan’s Asahi Breweries is is preparing to enter the Indian market. At the moment, the company is in the process of studying the market and liquor sales regulations in different states, The Financial Chronicle reported on April, 8.

“Asahi plans to open firm owned kiosks in luxury malls and hypermarkets. It hopes to start off with sale of beer and wine in select cities. They may also look at the option of forming joint ventures with domestic partners to enter the country,” Arvind Singhatiya, head of Franchise India’s international initiatives, said.

“They are studying the operations of foreign liquor brands here,” Singhatiya added.

The regulatory framework for selling alcoholic drinks in India is highly complicated and different states follow one among of the three types of sales - open, auction or government-controlled retail network. Asahi is looking at states like Maharashtra, Karnataka, and Goa, it is reported.


Latin America: SABMiller happy with Latin America’s fast recovery

Latin America was the first of SABMiller's major beer markets to recover from the global economic downturn, while the U.S. brewing industry remains depressed, the company's CEO Graham Mackay was quoted as saying by Dow Jones on April ,7.

"Of all our major trading regions this is the one that was least affected and which recovered fastest," Mackay said.

The brewing industry is highly sensitive to changes in the economy, which is one reason why beer drinking in the sluggish U.S. economy is in decline, Mackay said.

"Beer is an affordable luxury, as we say. It's a drink of the working man, it's very closely correlated to employment."

The CEO refused to comment on whether the dramatic hike in sales tax on beer in Colombia would damage sales in the company's most important beer market in the world, and would not say if the company is lobbying to reverse the measure. In January, the Colombian government announced an increase in tax on beer to 14%, from 3%. The tax came into effect on Feb. 1, and the tax will rise again to 16% on Jan. 1, 2011.

Colombia is now SABMiller's "single most profitable beer market", according to Mackay, and second-largest market ...More Info


Malt News

EU: Malt output down in Germany, France, UK

Germany’s malt output declined by 9.7% to 1.722 mln tonnes in 2009, industry observers communicated on April, 6.

The slowdown was 7% during the first half and 12.3% during the second half of the year.

In France production was reduced by 11.4% from July 2009 till January 2010.

In the U.K. the reduction was 14.5% during the same period, sources report.


Czech Republic: 2009 malt output declines versus the previous year’s record volume

Czech malt houses produced 500,387 tonnes of malt last year, which is a drop of 3.8 percent against 2008, the Czech Beer and Malt Association (CSPS) communicated on April, 8.

Nearly half of Czech malt or 239,000 tonnes were exported last year, reaching thus the second highest level in history.

Poland was traditionally the biggest importer of Czech malt, receiving nearly half of all exported malt.

Romania, Germany and Great Britain rank among other long-term importers of Czech malt. Japan registered the most dynamic rise in imports of Czech malt last year. Switzerland was the first country last year to import Czech malt.

Sladovny Soufflet CR is the largest Czech malt producer, contributing around 70 percent to the Czech production of malt and 95 percent to exports. One of its malt houses located in Nymburk, central Bohemia, produced 108,000 tonnes of malt, which was historically the highest amount produced by one malt house.

In 2008, Czech malt houses produced record 540,510 tonnes of malt, which was up by nearly 2.5 percent against 2007.


Barley News

EU: Demand for barley of crop 2010 not to exceed 10 mln tonnes - experts

The crop year 2009/10 started with a huge unsalable surplus of malting barley, which depressed prices almost to levels of feed barley, industry analysts communicated earlier this week.

Most of the winter malting barley, and large amounts of spring barley were sold to the feed sector and to intervention. The large export business came unexpected. And there is a small quality problem after all, namely very low protein of large quantities of French spring barley, sources said.

Is it still right to speak of a carry-over of malting barley, which will cover the EU maltsters’ demand until December or January, reducing any demand of new crop barley to an eight months campaign? It must not be forgotten that maltsters will want to carry stocks from crop 2010 as well, because crop 2011 barley carries a premium of EUR 20,- per ton above crop 2010.

The demand for barley of crop 2010 is expected to be between 9 and 10, probably closer to 10 mln tonnes, analysts believe.


France: Total area under barley to drop by 11.6%

Total area planted to barley in France this year is expected to decline by 11.6% to 1.67 mln ha, the nation’s Ministry of Agriculture announced on April, 8.

According to the initial estimates, the marketing year 2010-2011 (July-June) will see the area under spring barley will shrink by 22.1% versus 2009, to 439,000 ha, the Ministry said.

France’s winter barley plantings will decrease by 7.2% to 1.23 mln ha.


Canada: Barley acreage to decline this year, CWB ships almost half of total amount planned for the crop year

Official forecasts set Canada’s and the US barley production at 9.5 mln tonnes and 5.0 mln tonnes respectively, however, private estimates and farmers announcements look different, an analysts’ note said earlier this month.

A lower acreage should be expected in both countries, experts said.

The Canadian Wheat Board shipped 240,000 tons of malting barley to China by end March, but the total program for the crop year seems to be above half a million tons.

South Africa and South America will receive between 2-300,000 tons. Present price levels are around US$250,- FOB Vancouver, the Canadian dollar is on par with the U.S. dollar.

Scientific Digest


Relationship between Polyphenols and Beer Flavour Stability

Dr. Patrick BOIVIN

ABSTRACT Beer quality that is depending on the processes (malting and brewing) and raw materials is a very fragile product. The flavour quality of the beer decreases during the storage and the challenge for the breweries is to maintain a fresh flavour in their product for about 9 to 12 months. The T2N that is the major contributor of oxidised, is formed during malting and during brewing from milling to boiling by enzymatic and non enzymatic oxidation of lipids. Polyphenols from malt and hop that have antioxidant activities (inhibition of Lox-1 activity, metal chelating activity, and radical scavenging activity), contribute to improve the flavour stability of beer.
Cerevisia, 33(4) 2008 http://www.cerevisia.eu

Barley Prices
French Malting Barley Prices
EURO = USD 1.3329 April 09, 2010
 Crop year   2009   2010 
 Parity   FOB Creil   FOB Creil 
 Position   July 2009   July 2010 
Type   Variety  EURO  USD  EURO  USD 
2RS  Scarlett  97.00  129.50  129.00  172.00 
2RS  Prestige  96.00  128.00  128.00  171.00 
2RS  Cellar  95.00  127.00  127.00  169.50 
2RS  Sebastien  94.00  125.50  126.00  168.00 
2RS  Tipple  94.00  125.50  126.00  168.00 
2RS  Henley  94.00  125.50  126.00  168.00 
6RW  Esterel   93.00  124.00  111.00  148.00 

Nominal French Feed Barley Prices
EURO = USD 1.3329 April 09, 2010
Crop year 2009
Parity FOB Creil
Position July 2009
Type EURO USD
Feed Barley 88.00 117.30
Canadian Barley Prices, Crop 2009
USD = CAD 1.00, April 09, 2010
Canadian Malting Barley Prices, CWB Quotes/Indications, Basis Export Positionin C$/t
2-Row Malting Barley, Domestic 232.00
2-Row Malting Barley, Off Shore 212.00
2-Row Malting Barley, for USA 212.00
2-Row Malting Barley, for Mexico 212.00
6-Row Malting Barley, Domestic 220.00
6-Row Malting Barley, Off Shore * 200.00
6-Row Malting Barley, for USA 192.00
6-Row Malting Barley, for Mexico 192.00
Canadian Feed Barley Values, Basis Lethbridge non boardin C$/t
Feed Barley, Basis Lethbridge non board 148.00
*rarely traded


US Barley Prices, Crop 2009
USD = EUR 0.75, April 09, 2010
Malting Barley Pricesin US$/t
2-Row Malting Barley, Basis Great Falls, Montana 133.00
6-Row Malting Barley, Basis Minneapolis, Minnesota 107.00
Feed Barley Pricesin US$/t
Feed Barley Basis Great Falls, Montana 112.00
Canadian malt and barley prices as well as US barley prices information provided by
Integrated Malt Barley Management Ltd IMBM


Malt Prices

Theoretical EU Malt Prices
  EURO = USD 1.3329 April 09, 2010 
Crop year  2009 
Parity  FOB Antwerp 
Position  Apr 2010 - Sept 2010 
Conditioning  Bulk   In bags  Bulk containers Bags, containers
Malting barley variety  EURO  USD  EURO  USD  EURO  USD  EURO  USD 
2RS  Scarlett  276.50  368.50  307.50  410.00  300.00  399.50  314.00  418.50 
2RS  Prestige  275.00  366.50  306.50  408.50  298.50  398.00  313.00  417.00 
2RS  Cellar  274.00  365.00  305.00  406.50  297.50  396.50  311.50  415.50 
2RS  Sebastien  272.50  363.50  304.00  405.00  296.50  394.50  310.50  413.50 
2RS  Tipple  272.50  363.50  304.00  405.00  296.50  394.50  310.50  413.50 
2RS  Henley  272.50  363.50  304.00  405.00  296.50  394.50  310.50  413.50 
2RS   Average price  274.00  365.00  305.00  406.50  297.50  396.50  311.50  415.50 
6RW  Esterel   271.50  362.00  302.50  403.50  295.00  393.00  309.50  412.00 
Asia Malt 70/30  273.50  364.00  304.50  405.50  296.50  395.50  311.00  414.50 
**  Asia Malt 50/50  272.50  363.50  304.00  405.00  296.50  394.50  310.50  413.50 


EURO = USD 1.3329 April 09, 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  311.50  415.50  343.00  457.00  335.50  447.00  349.50  465.50 
2RS  Prestige  310.50  414.00  341.50  455.50  334.00  445.00  348.50  464.00 
2RS  Cellar  309.50  412.00  340.50  453.50  333.00  443.50  347.00  462.50 
2RS  Sebastien  308.00  410.50  339.50  452.00  331.50  442.00  345.50  461.00 
2RS  Tipple  308.00  410.50  339.50  452.00  331.50  442.00  345.50  461.00 
2RS  Henley  308.00  410.50  339.50  452.00  331.50  442.00  345.50  461.00 
2RS   Average price  309.50  412.00  340.50  453.50  333.00  443.50  347.00  462.50 
6RW  Esterel   289.50  386.00  321.00  427.50  313.00  417.50  327.50  436.50 
Asia Malt 70/30  303.50  404.50  334.50  446.00  327.00  435.50  341.00  454.50 
**  Asia Malt 50/50  299.50  399.00  330.50  440.50  323.00  430.50  337.00  449.50 

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

Canadian Malt Prices
USD = CAD 1.00, April 09, 2010
Theoretical Canadian Malt Prices, Basis Export Position in C$/t
2-Row Malt, Domestic 451.00
2-Row Malt, Off Shore 426.00
6-Row Malt, Domestic 435.00
6-Row Malt, Off Shore* 410.00
*rarely traded
Canadian malt and barley prices as well as US barley prices information provided by
Integrated Malt Barley Management Ltd IMBM
Table of the Week

EU MALT EXPORTS

  Licence Fixations Export Shipments
(Adjusted)
Export Shipments
(To be adjusted)
(in tonnes) 2007-2008 2008-2009 July 01, 2009 -
January 31, 2010
France 357,498 323,305 158,538
Germany 352,420 241,245 104,919
Belgium 578,586 688,350 342,900
Bulgaria 2,860 804 284
U.K. 106,867 127,324 94,590
Finland 60,217 46,540 20,329
Denmark 99,380 54,942 26,923
Sweden 96,700 84,880 27,536
Netherlands 90,756 99,057 70,360
Ireland - - -
Italy 3,148 2,773 1,237
Austria 9,085 6,511 3,488
Spain - 19,058 6,004
Romania 500 - -
Portugal 476 1,028 680
Czech Republic 25,203 21,635 17,638
Poland 2,025 2,066 -
Hungary 2,638 13,099 10,181
Slovakia 16,645 16,796 8,652
Lithuania 1,855 1,038 2,254
Latvia - 347 110
Total EU 1,806,858 1,750,797 1,027,027

Total Roasted malt, tonnes
July 01, 2009 - January 31, 2010 24,856
Total 2008 - 2009 39,945
Total 2007 - 2008 28,177
Source: Eurostat
Graph of the Week


Source: Brewers' Union of Austria

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Agenda