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Newsletter Summary

Currency rates
Equities of largest breweries
Market prices change trend
Top industry news
Brewery news
Barley news
Hops news
More news
Malting barley prices
Table of the week
Graph of the week
Agenda
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Average market prices Change trend

25 Jul-27 Jul 2005
Crop 2005
2rs Barley €117.0-118.0     
6rw Barley €106.0-108.0     

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.
The changes are compared to last Newsletter's prices.
Arrows indicate the direction of the change.


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E-malt.com Newsletter 30a
July 25 - July 27, 2005

Currency Rates
Base Currency: Euro, EUR
on 27-July-2005

1 EUR = 1.2018 USD
1 EUR = 0.6912 GBP
1 EUR = 1.478 CAD
1 EUR = 1.5857 AUD
1 EUR = 135.21 JPY
1 EUR = 2.9372 BRL
1 EUR = 34.5445 RUB
1 EUR = 9.7585 CNY
Base Currency: US Dollar
on 27-July-2005

1 USD = 0.8323EUR
1 USD = 0.5752 GBP
1 USD = 1.2298 CAD
1 USD = 1.3194 AUD
1 USD = 112.53 JPY
1 USD = 2.444 BRL
1 USD = 28.744 RUB
1 USD = 8.1199 CNY

EUR/USD Chart

Equities of the Largest Breweries

Top Industry News
    Czech Republic: SABMiller buys out Prazdroj minority share ... Click here

    China & South Korea: Chinese beer safe to drink, says S.Korean food safety authority ... Click here

    Russia: Beer output in Russia in H1 2005 was the lowest in the last 5 years ... Click here

    USA: Craft beer production growth up 7.1% for first half of 2005 ... Click here

    Poland: Kompania Piwowarska is the leader for four quarters in a row ... Click here

    UK: High nitrogen levels in malting barley are causing concern ... Click here

    USA: Minor acreage increase in 2005 hops crop Click here


More News
    Germany: Huppmann transformed into a joint stock corporation ...more info

    Luxembourg: EU court upheld fines against three Luxembourg brewers ...more info

    Colombia: Standard & Poor's Ratings may raise the rating on Bavaria ...more info

    UK: The opposition has predicted chaos in the brewing industry ...more info

    Russia: Foreigners dominant on Russia's beer market ...more info

    UK: Foreign multinationals companies account for more than 50% of UK beer market ...more info

    USA: High Falls Brewing Co. will revive Narragansett Lager Beer brand ...more info

    UK: The smallest brewery in the world: Guinness World Record ...more info

    UK: Coors Brewers continues to work with the Old Firm in Scotland ...more info

    UK: Belhaven's financial year has 'started satisfactorily' ...more info

    USA: Beer wholesalers see 'price war' looming ...more info

    Russia: Investors accuse S&N of 'unethical' business practice ...more info

    Czech Republic: InBev is to acquire the remaining stock of Pivovary Staropramen ...more info

    Russia: Carlsberg, S&N to propose Baltika restructuring plan again within 6 weeks ...more info

    UK: Suffolk brewer Adnams replaces its brewing equipment with Huppmann ...more info

    Russia: Minority shareholders say Baltika is ready to pay too much for Pikra brewery ...more info

    UK: Greene King Directors' shareholdings ...more info

    UK: Yorkshire trader seeks to secure malting barley ...more info

    Bulgaria: InBev has achieved much in its first 10 years in Bulgaria ...more info



Brewery News
Czech Republic: SABMiller buys out Prazdroj minority shares

SABMiller plc announced on July 25 that its wholly owned subsidiary Pilsner Urquell Investments B.V. (“PUI”) has initiated a buy-out process to acquire the remaining 3.1% interest held by minority shareholders in the group’s Czech operating company, Plzenský Prazdroj a.s. (“Plzenský Prazdroj”). Following the proposed transaction, PUI will be the sole shareholder in Plzenský Prazdroj.

Following an amendment to the Czech Commercial Code and at the request of PUI, Plzenský Prazdroj’s majority shareholder, the board of directors of Plzenský Prazdroj has called an extraordinary general meeting of shareholders (“EGM”) at which it expects PUI’s offer to minority shareholders to be approved. The value of the gross assets to be acquired is US$18.0 million or CZK446.7 million (representing 3.1% of total gross assets). The EGM is expected to take place on 26th August 2005 and the acquisition of the minority shareholders’ interest is expected to complete in October 2005.

SABMiller plc is one of the world’s largest brewers, with 2004/05 lager sales volumes in excess of 148 million hectolitres. It has a brewing presence in over 40 countries across four continents and a portfolio of strong brands and leading market shares in many of the countries in which it has brewing operations. Outside the USA, SABMiller plc is one of the largest bottlers of Coca-Cola products in the world. In the year ended 31 March 2005, the group generated US$2,194 million pre-tax profit from a turnover of US$14,543 million. SABMiller plc is listed on the London and Johannesburg stock exchanges.

Plzenský Prazdroj is the leading brewing company in the Czech Republic with lager sales volumes of over 9.7m hls in 2004/05 in over 50 countries. Its main brands are Pilsner Urquell, Gambrinus, Radegast and Velkopopovický Kozel.



China & South Korea: Chinese beer safe to drink, says S.Korean food safety authority

South Korean food safety authority said on Tuesday, July 26, that Chinese beer is safe to drink as it found the formaldehyde content in Chinese beer is much lower than the standard set by the World Heath Organization (WHO), Xinhua News communicated.

The (South) Korea Food and Drug Administration (KFDA) said in a news release that the quantity of the formaldehyde detected in Chinese beer met the international guidelines.

Sample examination showed in the 13 brands of imported Chinese beer and four German beer sold in South Korea, the average content level of formaldehyde stood at 0.132 parts per million (ppm). The level of formaldehyde in the 19 brands of South Korea beer stands at 0.128 ppm on average, said the release.

The results of the examination showed both imported and domestically produced beer met the WHO's guideline of under 0.9 milligram (mg) formaldehyde per liter, it said, adding the traces of the substance may result from the natural brewing process.

The KFDA also said that in the future, imported beer with a formaldehyde content of less than 0.9 mg per liter will be allowed into the country without the need for further documentation, while those with levels between 0.9 mg and 2.0 mg will require manufacturers to submit documents testifying that the formaldehyde was not added as part of the manufacturing process.

...more info



Russia: Beer output in Russia in H1 2005 was the lowest in the last 5 years

The growth rate of beer production in Russia in the first half of this year compared to H1 2004 was the lowest rate over the last five years, the Russian Brewers' Union said in a press release citing the Federal State Statistics Service (Rosstat).

Growth in beer production in January-June 2005 increased 3.7% year- on-year, the union said. In the first half of 2004, beer production grew 14.4% year-on-year.

Vyacheslav Mamontov, chairman of the Russian Brewers' Union executive committee, was quoted in the release as saying "the stagnant trend in beer production is becoming more obvious."

The union is afraid that "the danger is growing of a break in the designed trend in a number of regions for decreasing the consumption of strong alcohol and increasing the consumption of low-alcoholic products." "The shift in the manner of alcohol consumption towards increasing consumption of low-alcoholic products is one of the key factors in strengthening the health and safety of the nation," Mamontov said. "The government could stimulate this process with economic methods in the current situation," he said.



USA: Craft beer production growth up 7.1% for first half of 2005

Brewers Association of USA has recently reported that craft beer production volume increased by 7.1% for the first half of 2005 (January-June 2005). The Association is forecasting about 7 million barrels (8.21 million hl) of craft beer to be produced in the U.S. in 2005. Craft beer industry production is set to grow again in 2005 as it has every year for the last 35 straight years.

Total U.S. craft beer industry annual dollar volume for 2005 is forecast by the Brewers Association at $3.7 billion compared to $3.5 billion in 2004. 1,396 craft breweries are operating in 2005 in USA.

Craft beer is the fastest growing segment of the beverage alcohol industry in the US. Craft beer growth has exceeded that of imports for two years straight (2003 and 2004). The 7.2 percent growth rate in 2004 is five times the 1.5 percent growth rate posted by the craft beer industry in 2003. “Craft beer volume growth outpaced that of imports, large brewers, wine and spirits in 2004,” said Paul Gatza, Director of the Brewers Association.

“2004 was a difficult year for the beer industry, but it was a huge year for craft breweries. Overall consumption was up 0.9 %, and import's growth rate of 1.5 % was the lowest figure for import growth in 13 years. What this means is that craft beers are increasingly making headway in the areas of market share and consumer enjoyment," Paul Gatza, Director of the Brewers Association said.

Craft Beers: Generally, "all-malt," domestic beers produced using 100 percent malted barley. Craft beers that are not all-malt sometimes substitute a percentage of malted wheat (for wheat beers) or malted rye (for rye beers). Their inspiration can be traced to British, German or Belgian traditions or is often uniquely American. Craft beers range from pale to dark in color and from mild to strong in alcohol content. Sometimes they include unusual ingredients such as fruit, herbs or spices. Compared with other beers, their emphasis is more on flavor, and less on appealing to a mass market. (The best-selling American beers are brewed using 30 to 40 percent rice or corn "adjunct," resulting in a paler, lighter-bodied and lighter-flavored beer).



Poland: Kompania Piwowarska is the leader for four quarters in a row

Kompania Piwowarska, a subsidiary of SABMiller, announced on July 27 that its domestic sales in the second quarter of 2005 (April - June) amounted to 3.1 million hectolitres, up on the prior year by 12% and the highest among all brewers in Poland. Kompania Piwowarska has now shown undisputed market leadership in the Polish brewing industry for four quarters in a year.

The outstanding sales growth achieved by Kompania Piwowarska translates into a market share of 35.7%. Market share gains have been substantial, amounting to 2.7% over a period of 12 months.

Kompania Piwowarska domestic sales over the past six months amounted to 5.15 million hectolitres, up by 15% on prior year, while domestic sales over the past twelve months amounted to 10.63 million hectolitres, also up by 15%. This growth rate is substantially more than the industry growth rate of around 3% in the past twelve months.

Managing Director comments: "Our outstanding sales results - says Karl Lippert, Managing Director of Kompania Piwowarska - were the result of superior brand marketing, trade marketing and customer service. We strongly believe that these three pillars of excellence are the basis of our long term success. Of course, superior brand marketing has its roots in superior consumer insight, much as superior trade marketing has its roots in superior shopper insight. But ultimately, the beer business is a relationship business, and we take pride in our relations with our customers and our consumers. We therefore expect our healthy growth trend to continue."

...more info

Barley News

UK: High nitrogen levels in malting barley are causing concern

Rainy conditions continue to slow things down for farmers today, Farmers Weekly Interactive communicated on July 26. Reports are indicating high nitrogen levels in malting barley are causing problems around the country.

Jonathan Arnold of Robin Appel Ltd in Hampshire noted the high nitrogen levels were causing around 70% of Pearl winter barley to be going for feed rather than malting. This has caused an inundation of farmer interest in Fanfare and Maris Otter for next year instead of Pearl, he said.

Mike Clay from Hampshire Grain also noted the high nitrogen levels across the county, based on 90% of winter barley having been cut in his area.

Pearl barley for Jim Meadows’ neighbour in Warwickshire did not make malting with 1.89% nitrogen levels. Low yields were also a feature, and his own crop suffered from “too many bare headlands”. But nitrogen levels of 1.75% were lower than last year for James Dean in Wiltshire. He said: “The malting barley has done well, but we had poor feed barley.”

Yields for Brian Mummery in Canterbury varied from 6.8 to 7t/ha, and he hopes “it meets the [malting] standards”. However given the change to the weather, he added: “I’m glad to have some barley [harvested] under my belt."

Hops News

USA: Minor acreage increase in 2005 hops crop

The official hop acreage survey conducted by the USDA has already been published. The US growers who used to play a leading role with regard to acreage reductions in former years have increased their acreage by 586 ha (1,448 acres) in crop 2005, Joh. Barth & Sohn GmbH & Co. KG, the agricultural company that processes and trades hops and hop products worldwide, announced at the beginning of July 2005. This number is composed of 430 ha (1,062 acres) bitter hops (Galena, Super High Alpha, Nugget) and 156 ha (385 acres) aroma hops. The aroma sector also shows clear variety changes: Willamette +255 ha (+630 acres / +11%); Cascade -107 ha (-264 acres / -18%); US-Perle -82 ha (-203 acres / -67%).

The dollar which is still undervalued will help US high alpha hops in crop 2005 to regain more importance on the world market.

The big surplus of bitter hops from former crops that influenced the price structure for US spot hops has mainly been sold. Therefore the price for bitter hops crop 2005 has already recovered. Furthermore, new markets have opened up for hops outside the brewing industry. Their needs are mainly satisfied by US hops and will have growing influence on demand.

Some varieties already show a shortage in supply at present. E.g. the varieties Galena and Nugget have been completely sold by pre-contracts. The variety Millennium, however, is available to balance Nugget shortage. The variety Cluster has become a niche variety and can only be secured by making pre-contracts.

Some growers intended to introduce a Hop Marketing Order in the US. After longer hearings, this petition was finally declined by the USDA.


Malting barley prices. French barley prices.
Nominal prices.

EURO = USD 1.2018 July 27, 2005 
 Crop year   2004   2005 
 Parity   FOB Creil   FOB Creil 
 Position   July 2004   July 2005 
Type   Variety  EURO  USD  EURO  USD 
2RS  Scarlett  nq  nq  118.00  142.00 
2RS  Prestige  nq  nq  118.00  142.00 
2RS  Cellar  nq  nq  118.00  142.00 
2RS  Aspen  nq  nq  nq  nq 
2RS  Optic  nq  nq  nq  nq 
2RS  Sebastien  nq  nq  117.00  141.00 
2RS  Astoria  nq  nq  117.00  141.00 
2RS  Cork   nq  nq  116.00  139.50 
6RW  Esterel   nq  nq  107.00  128.50 
nq - Not quoted
Prices for Danish and UK malting barley are available on site www.e-malt.com/MarketPrices

Table of the week
EU Malting Barley Supply and Demand Estimate 2005/2006

(in 1,000 tonnes) Malt production (estim.) Barley demand  Supply Spring malting barley  Supply Winter Malting barley  Net Plus / Minus 
Total Spring Winter
  Northwest: 
  Belgium  700  875  15  - 860  - 560  - 300 
  France  1,350  1,700  1,900  2/6 row 1,350  + 1,550  + 900  + 650 
  Germany  1,900  2,375  1,600  2 row      100  - 675  - 575  - 100 
  Ireland  80  100  150  + 50  + 50 
  Netherlands  280  350  250  - 100  -50   - 50 
  United Kingdom  1,420  1,775  1,500  2row    900  + 625  + 425  +200 
  Total Northwest  5,730  7,175  5,415  2,350  + 590  + 190  + 400 
 
  Baltic
  Denmark  280  350  1,450  + 1,100  + 1,100 
  Finland  150  190  190 
  Lithuania  70  90  90 
  Poland  250  310  210  - 100  - 100 
  Sweden  160  200  180  - 20  - 20 
  Total Baltic  910  1,140  2,120  + 980  + 980 
 
  Southeast
  Austria  150  190  160  - 30  - 30 
  Czech Republic  480  600  800  + 200  + 200 
  Hungary  120  150  120  - 30  - 30 
  Slovakia  175  220  250  + 30  + 30 
  Total Southeast  925  1,160  1,330  + 170  + 170 
 
  Mediterranean:               
  Greece 30  40    - 40  - 20  - 20 
  Italy 60  75  25    - 50  - 30  - 20 
  Portugal 80  100    - 100  - 60  - 40 
  Spain 460  575  275    - 300  - 250  -50 
 Total Mediterranean  630  790  300  - 490  - 360  - 130
 
  Net Total  8,195  10,265  9,165  2,350  + 1,250  + 980  + 270 
Graph of the week

Agenda
July 2005:
Interwine China. International Wine, Brewery and Beverage Processing Technology and Equipment Trade Fair;
2005 North American Barley Researchers Workshop;
U.S. Grains Council Summer Board Meeting;
The 50 th International Hop Growers’ Congress (IHGC). China;
District Eastern Canada MBAA annual convention;
Open Door to "Mortal's Beers";

August 2005:
IFDE INDIA 2005 / INTERNATIONAL FOOD & DRINK EXH;
FOOD EXPO 2005, Hong Kong;
FOOD INGREDIENTS SOUTH AMERICA 2005, Sao Paulo, Brazil;
35th BCCA Canvention 2005, NC USA;

September 2005:
International Brewery and Soft Drinks Industry Exhibition. Ukraine ;
4th WORLD BEER & DRINKS FORUM, before the drinktec in Munich;
Great Canadian Beer Festival;
Brew Cruise to New England/Canada;
Drinktec 2005. Munich, Germany;
Fremont Oktoberfest,Seattle, WA, USA;
Great American Beer Festival;


More events are available on site e-malt.com
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