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E-Malt.com Newsletter 19b
May 06 - May 09, 2010
Open!
Click here to get full size Newsletter


Quote of the week

"I recommend:...bread, meat, vegetables and beer.
Sophocles' philosophy of a moderate diet
Currency Rates
Base Currency: Euro, EUR
on 07-May-2010

1 EUR = 1.2735 USD
1 EUR = 0.8495 GBP
1 EUR = 1.3235 CAD
1 EUR = 1.4172 AUD
1 EUR = 118.261 JPY
1 EUR = 2.3118 BRL
1 EUR = 38.6966 RUB
1 EUR = 8.7067 CNY
Base Currency: US Dollar
on 07-May-2010

1 USD = 0.7854 EUR
1 USD = 0.667 GBP
1 USD = 1.0392 CAD
1 USD = 1.1127 AUD
1 USD = 92.862 JPY
1 USD = 1.8153 BRL
1 USD = 30.3857 RUB
1 USD = 6.8368 CNY
Currency Rates Chart

Equities of the Largest Breweries

Equities of the Largest Breweries

Average Market Prices Change Trend

May 07, 2010

Type Crop 2009 Crop 2010
2rs Barley EUR99.0-103.0 EUR136.0-140.0
6rw Barley EUR96.0-100.0 EUR119.0-123.0
2rs Malt EUR280.0-284.0 EUR321.0-325.0
6rw Malt EUR276.5-280.5 EUR300.0-304.0
Feed Barley EUR90.0-94.0 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

Japan: Kirin reports first quarter results ...Click here
United Kingdom: Diageo achieves strong organic net sales growth for the third quarter of its current financial year ...Click here
India: United Breweries sales volume growth outpaces the industry in the year ended March, 31 ...Click here
The Czech Republic: Heineken CR posts profit in 2009 ...Click here
United States: Boston Beer’s net income up $4.9 mln in Q1 2010 ...Click here
Canada: 2010-11 barley production, total supply to decrease, forecast for exports left unchanged at 2.3 mln tonnes ...Click here
The Czech Republic: Czech hops export down 5.37% last year ...Click here


More News


World: Bud Light remains world’s most valuable beer brand in 2010 ...More Info
United States: Minnesota barley plantings stable this year due to contracts with maltsters ...More Info
Uzbekistan: Carlsberg Uzbekistan starts brewing Baltika No. 7 beer under licence ...More Info
Belarus: Government-regulated malting barley prices are too high ...More Info
India: The state of Kerala announces a 10% cut in beer taxes ...More Info
Go to our news database with more than 16917 articles.
Today with the possibility to be translated in 7 different languages!
DE FR SP IT PT RU CN

Brewery News

Japan: Kirin reports first quarter results

Japanese brewer Kirin Holdings said on May, 7 its consolidated sales reached just 442.772 bln yen in the first quarter of this year versus 487.287 bln yen a year ago.

Operating income surged to 23.846 bln yen (9.454 bln yen in Q1 2009). The company achieved a net income of 6.157 bln yen, versus a loss of 6.172 bln yen in the same quarter last year. Consolidated ordinary income increased by 56.3% to 20.6 bln yen.

While beer and happoshu markets shrank due to a heightened sense of frugality among consumers in the first quarter of this fiscal, but primary product sales remained strong, Kirin said.

Kirin’s Alcohol Beverages business reported a 5.8% increase in consolidated sales (236.4 bln yen), and a 15.2% growth in consolidated operating income to 15.8 bln yen.

For the full fiscal year, Kirin kept unchanged the earnings outlook it released earlier this year. The company continues to predict a group net profit of 48 billion yen, an operating profit of 133 billion yen and sales of 2.2 trillion yen.


United Kingdom: Diageo achieves strong organic net sales growth for the third quarter of its current financial year

London-based drinks giant Diageo plc issued on May, 6 an interim management statement for the nine months ended 31 March 2010.

In the nine months ended 31 March 2010 net sales were up 2% on an organic basis against the comparable period. In the quarter ended 31 March 2010 organic net sales growth was 12%, the owner of the iconic Guinness beer said.

On a reported basis net sales grew by 4% in the nine months ended 31 March 2010 and by 9% in the quarter ended 31 March 2010, against the comparable prior period in each case. Growth for the year to date was driven broadly equally by organic growth and the impact of exchange rates movements since the comparable period. Net assets were £4,418 million at 31 March 2010, having been £4,591 million at 31 December 2009. The only material change in the financial position of the group was the liability in respect of the interim dividend partially offset by foreign exchange movements.

Paul Walsh, Chief Executive of Diageo commented: “As we had anticipated we delivered strong organic net sales growth for this third quarter. While we have seen some signs of recovery, albeit fragile in the mature markets and ...More Info


India: United Breweries sales volume growth outpaces the industry in the year ended March, 31

India’s largest brewer, United Breweries (UBL), said on May, 5 its sales volume grew by 20% against a total industry growth of 10% in the year ended March 31, 2010.

Through the market outperformance, the brewer reinforced its position as market leader in both the mild & strong categories with Kingfisher Premium & Kingfisher Strong continuing to dominate their respective segments.

The strong beer market grew 13% versus a decline in mild beer by 2%.

UBL’s overall market share now stands at twice that of its nearest competitor. Key contributors to the company’s growth were Maharashtra, Rajasthan, West Bengal, Tamil Nadu, and Orissa. This growth is all the more significant as UBL discontinued supplies to Andhra Pradesh in the height of summer, and given the slump in Karnataka beer consumption because of severe increases in the Government’s taxation of beer. In the last month of the financial year, the Karnataka market has shown signs of recovery.

UBL’s gross margin increased by Rs. 159 crore in the financial year, despite the fact that recycled bottle prices have increased substantially. The company has lowered costs of power and fuel by 15% in absolute terms through efficiency improvements and the increased use of biomass ...More Info


The Czech Republic: Heineken CR posts profit in 2009

Czech beer maker Kralovsky pivovar Krusovice, bearing the name Heineken CR since the beginning of this year, posted Kc176 mln profit in 2009 after a loss of Kc44 mln in 2008, CTK reported on May, 7.

Heineken CR is the third biggest player on the Czech market.

According to the company’s financial statement, its sales grew from Kc1.195 bln in 2008 to Kc3.092 bln last year, partly thanks to a merger with brewery Starobrno, whose sales reached Kc1.627 bln in 2008.

On the other hand, the firm ended operation in the Znojmo brewery.

Heineken entered the Czech market in 2003, when it bought Starobrno. In 2007 it acquired Kralovsky pivovar Krusovice and Drinks Union in 2008. Drinks Union has four breweries.

Domestic breweries of the Heineken group last year brewed 2.62 million hectolitres of beer, down 5.2 percent year-on-year. Beer sales on the domestic market fell by 1 percent, exports decreased by almost 5 percent.

According to Heineken's estimates, its market share in the Czech Republic last year rose to 12.4 percent.


United States: Boston Beer’s net income up $4.9 mln in Q1 2010

The Boston Beer company reported on May, 5 a first quarter core product depletions increase of approximately 14% as compared to the first quarter of 2009. Net income for the first quarter was $6.3 million, or $0.44 per diluted share, an increase of $4.9 million, or $0.34 per diluted share, from the first quarter of 2009, primarily as a result of increased core shipment volume, partially offset by increased investments in advertising and expansion of the company's sales force. Net revenue for the first quarter of 2010 was $94.0 million, an increase of $12.9 million, or 16%, over the same period last year, mainly due to core shipment volume gains, with minor improvements in pricing, partially offset by a decrease in non-core revenue of $3.6 million, due to the termination of the Packaging Services Agreement with Diageo North America, Inc. in May 2009.

Core shipment volume for the three months ended March 27, 2010 was approximately 454,000 barrels, a 19% increase versus the same period in 2009.

Jim Koch, Chairman and Founder of the company, commented, "Our wholesaler and sales force execution in the quarter propelled us to a record first quarter for depletions. The introduction of our new spring seasonal, Samuel ...More Info


Barley News

Canada: 2010-11 barley production, total supply to decrease, forecast for exports left unchanged at 2.3 mln tonnes

For 2010-11, Canada’s barley seeded area is expected to fall by 4% to 3.38 mln ha and harvested area is expected to fall by the same amount to 2.8 mln ha, Agriculture and Agri-Food Canada reported on May, 5.

Production is forecast to decline by 7% to 8.83 mln tonnes as yields fall to trend levels. Total supply is forecast to fall by 1% to 11.1 mln tonnes due to lower carry-in stocks.

The nation’s total barley exports are forecast to be unchanged at 2.3 mln tonnes, while carry-out stocks fall by 27% to 1.6 mln tonnes.

The CWB malt barley PROs are about 4% lower than 2009-10. The non-board price of feed barley is forecast to fall slightly from 2009-10. For 2010-11 the US, China and Japan should remain Canada’s largest export destinations for malt barley.

Australia and Ukraine have replaced Canada as the feed barley supplier to Saudi Arabia which had been an important market. Canadian feed barley exports are expected to remain very low, similar to 2009-10. The livestock feed market in Western Canada continues to be one of the world’s highest priced feed barley markets. This, in combination with high shipping costs decreases the competitiveness of Canadian feed ...More Info


Hops News

The Czech Republic: Czech hops export down 5.37% last year

The Czech Republic exported 4,144 tonnes of hops to 44 countries last year, which was 5.37 percent less than in 2008 and the lowest amount in the past ten years, Michal Kovarik of the Czech Hop Growers Association was quoted as saying by CTK on May, 5.

Czech growers last year harvested 6,616 tonnes of hops, down by 2 percent on the year.

After the poor harvest results in 2006 and 2006 the situation on the hops market is turning to a global overproduction, Kovarik said.

Among the largest buyers of Czech hops are Japan, Germany, Poland, China, Russia, Belgium and Britain. Breweries in Finland, Peru, Columbia, New Zealand, Ukraine, Slovakia, Romania and Hungary are among important clients as well.

Japan, traditionally the biggest buyer, took up over 43 percent of the exports last year.

There were two new buyer countries in the year - Taiwan and Zambia.

"The total number of countries to which Czech hops have been exported since the year 1998 thus grew to 77," Kovarik said.

Hop yields reached 1.25 tonnes per hectare last year, while in 2008 it was 0.02 tonnes more.

The Czech Republic ranks fourth in the world in terms of hop fields, right behind Germany, the USA and China.

Scientific Digest


Isothermal and short mashing with or without pH adjustment and use of exogenous enzymes compared to infusion mashing

A. VAN LANDSCHOOT, N. VANBENEDEN, D. VANDERPUTTEN AND K. PIENS

ABSTRACT In 16 case studies the traditional infusion mashing method was compared with isothermal mashing at 60-65°C combined with short mashing at half of the normal mashing time. Also, the effect of mash pH adjustment (5.4-5.6) and application of exogenous enzymes (proteases, glucanases, amylases, and amyloglucosidases) was studied. The results indicated that isothermal short mashing is a potential economic mashing process. Adjustment of the mash pH had a positive effect on the mashing performance. The use of exogenous enzymes in infusion mashings gave an increase in the amino acid concentration but this is not essential for the later fermentation process since basic wort free amino nitrogen (FAN) levels are already high enough.
Cerevisia, 34(3) 2009 http://www.cerevisia.eu

Barley Prices
French Malting Barley Prices
EURO = USD 1.2735 May 07, 2010
 Crop year   2009   2010 
 Parity   FOB Creil   FOB Creil 
 Position   July 2009   July 2010 
Type   Variety  EURO  USD  EURO  USD 
2RS  Scarlett  103.00  131.50  140.00  178.50 
2RS  Prestige  102.00  130.00  139.00  177.50 
2RS  Cellar  101.00  129.00  138.00  176.00 
2RS  Sebastien  100.00  127.50  137.00  174.50 
2RS  Tipple  100.00  127.50  137.00  174.50 
2RS  Henley  100.00  127.50  137.00  174.50 
6RW  Esterel   98.00  125.00  121.00  154.50 

Nominal French Feed Barley Prices
EURO = USD 1.2735 May 07, 2010
Crop year 2009
Parity FOB Creil
Position July 2009
Type EURO USD
Feed Barley 92.00 117.16
Canadian Barley Prices
USD = CAD 1.0392, May 07, 2010
Canadian Malting Barley Prices, CWB Quotes/Indications, Basis Export Position Crop 2009 in C$/tCrop 2010 in C$/t
2-Row Malting Barley, Domestic 232.00 232.00
2-Row Malting Barley, Off Shore 230.00 230.00
2-Row Malting Barley, for USA 230.00 230.00
2-Row Malting Barley, for Mexico 230.00 230.00
6-Row Malting Barley, Domestic 219.00 219.00
6-Row Malting Barley, Off Shore * 215.00 215.00
6-Row Malting Barley, for USA 215.00 215.00
6-Row Malting Barley, for Mexico 215.00 215.00
Canadian Feed Barley Values, Basis Lethbridge non board Crop 2009 in C$/tCrop 2010 in C$/t
Feed Barley, Basis Lethbridge non board 150.00 nq
* rarely traded


US Barley Prices, Crop 2009
USD = EUR 0.7854, May 07, 2010
Malting Barley Pricesin US$/t
2-Row Malting Barley, Basis Great Falls, Montana 133.00
6-Row Malting Barley, Basis Minneapolis, Minnesota 137.00
Feed Barley Pricesin US$/t
Feed Barley Basis Great Falls, Montana 112.00
**Thin trading
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 1.2735 May 07, 2010 
Crop year  2009 
Parity  FOB Antwerp 
Position  May 2010 - Sept 2010 
Conditioning  Bulk   In bags  Bulk containers Bags, containers
Malting barley variety  EURO  USD  EURO  USD  EURO  USD  EURO  USD 
2RS  Scarlett  284.50  362.00  315.50  402.00  308.00  392.00  322.00  410.00 
2RS  Prestige  283.00  360.50  314.50  400.50  306.50  390.50  321.00  408.50 
2RS  Cellar  282.00  359.00  313.00  398.50  305.50  389.00  319.50  407.00 
2RS  Sebastien  280.50  357.50  312.00  397.00  304.00  387.50  318.50  405.50 
2RS  Tipple  280.50  357.50  312.00  397.00  304.00  387.50  318.50  405.50 
2RS  Henley  280.50  357.50  312.00  397.00  304.00  387.50  318.50  405.50 
2RS   Average price  282.00  359.00  313.00  398.50  305.50  389.00  319.50  407.00 
6RW  Esterel   278.50  354.50  309.50  394.00  301.50  384.50  316.00  402.50 
Asia Malt 70/30  281.00  357.50  312.00  397.50  304.50  387.50  318.50  405.50 
**  Asia Malt 50/50  280.00  356.50  311.50  396.50  303.50  386.50  318.00  404.50 


EURO = USD 1.2735 May 07, 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  325.50  414.00  356.50  454.00  348.50  444.00  363.00  462.50 
2RS  Prestige  324.00  412.50  355.50  452.50  347.50  442.50  361.50  460.50 
2RS  Cellar  323.00  411.00  354.00  450.50  346.50  441.00  360.50  459.00 
2RS  Sebastien  321.50  409.50  352.50  449.50  345.00  439.50  359.50  457.50 
2RS  Tipple  321.50  409.50  352.50  449.50  345.00  439.50  359.50  457.50 
2RS  Henley  321.50  409.50  352.50  449.50  345.00  439.50  359.50  457.50 
2RS   Average price  323.00  411.00  354.00  450.50  346.50  441.00  360.50  459.00 
6RW  Esterel   302.00  384.50  333.00  424.00  325.50  414.50  339.50  432.50 
Asia Malt 70/30  316.50  403.00  347.50  442.50  340.00  433.00  354.50  451.00 
**  Asia Malt 50/50  312.50  397.50  343.50  437.50  336.00  427.50  350.00  446.00 

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

Canadian Malt Prices
USD = CAD 1.0392, May 07, 2010
Theoretical Canadian Malt Prices, Basis Export Position Crop 2009 in C$/tCrop 2010 in C$/t
2-Row Malt, Domestic 451.00 451.00
2-Row Malt, Off Shore 449.00 449.00
6-Row Malt, Domestic 431.00 431.00
6-Row Malt, Off Shore* 430.00 430.00
* 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

Thailand Unroasted Malt Imports
in tonnes
  2004 2005 2006 2007 2008 2009 Jan, 2010
Australia 48,604 84,763 104,922 137,024 134,751 106,534 7,681
Belgium 21,144 28,058 24,345 9,019 19,404 1,539 -
Canada - - 475 9,533 5,017 - -
China - - - 441 2,681 12,847 875
Germany 3,544 11,371 15,272 24,649 31,652 18,890 30
Denmark 4,773 8,921 7,036 - 882 1,218 -
France 24,977 18,361 32,689 32,858 22,769 24,590 1,683
United Kingdom 73,324 33,960 25,049 27,420 15,557 14,294 1,131
Georgia - - 15 - - - -
Iran 480 465 - - - - -
Ireland 19,845 22,183 5,001 - - - -
Japan - 468 - - - - -
Poland - - - - - 847 -
Philippines 18 72 - 1 - - -
Netherlands 9,796 460 13,762 5 24 - -
New Zealand - - - 46 - - -
United States - - - - 3,092 - -
TOTAL 206,505 209,082 228,566 240,996 235,829 180,759 11,400
Source: AWEX
Graph of the Week


Source: Brand Finance ®

These Days in Business History
May 6
1851 San Francisco Chamber of Commerce starts
1889 Universal Exposition opens in Paris, Eiffel Tower completed
1927 Academy of Motion Picture Arts and Sciences forms

May 7
1955 West Europe Union established
1979 5th UNCTAD-conference opens in Manila
1982 IBM releases PC-DOS version 1.1

May 8
1888 George Eastman patents "Kodak box camera"
1899 Friedrich August von Hayek is born in Vienna (Nobel Prize in economics in 1974)
1929 John Clifton Bogle, future founder of the Vanguard Group of Investment Cos., is born in Montclair, N.J.

May 9
1785 British inventor Joseph Bramah patents beer-pump handle
1886 At the soda fountain of Jacob’s Pharmacy in Atlanta, Dr. John S. Pemberton sells the first glass of Coca-Cola, his new "tonic" beverage.
Agenda