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Table of the week
Graph of the week
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Average market prices Change trend
11 Aug - 12 Aug 2005
Crop 2005
2rs Barley €120.0-121.0     
6rw Barley €107.0-109.0     

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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Newsletter 32a, 2005
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Newsletter 31b, 2005
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Newsletter 30b, 2004
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Newsletter 30a, 2004

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E-malt.com Newsletter 32b
August 11 - August 12, 2005
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Currency Rates
Base Currency: Euro, EUR
on 12-August-2005

1 EUR = 1.2468 USD
1 EUR = 0.6882 GBP
1 EUR = 1.4975 CAD
1 EUR = 1.6097 AUD
1 EUR = 136.68 JPY
1 EUR = 2.9248 BRL
1 EUR = 35.3577 RUB
1 EUR = 10.111 CNY
 Base Currency: US Dollar
on 12-August-2005

1 USD = 0.8024 EUR
1 USD = 0.5521 GBP
1 USD = 1.2012 CAD
1 USD = 1.2911 AUD
1 USD = 109.66 JPY
1 USD = 2.3460 BRL
1 USD = 28.361 RUB
1 USD = 8.1102 CNY

EUR/USD Chart

Equities of the Largest Breweries

Top Industry News
Brazil: AmBev Reports Second Quarter 2005 Results... Click here

China: The 2008 Olympic Games has a new sponsor- Beijing Yanjing Brewery Co... Click here

Denmark: Carlsberg releases financial results saying annual profit expectations are maintained... Click here

Australia: Lion Nathan Confirms 2005 Net Profit after Tax Guidance of $230-$235m... Click here

Canada: Sleeman reports second quarter results... Click here

Denmark, Sweden and U.K: Planting pattern of principal malting varieties... Click here

UK: Greencore gives a new lease of life to its malting plant from Carnoustie... Click here

China: One million tonnes of Australian malting barley exported this year to China... Click here

Canada: Analysts’ forecasts on barley production and exports... Click here

More News
USA: Drinks Americas Holdings announces joint venture agreement with Sackets Harbor Brewing Company ...more info

Belgium: "La Saison Dupont” is the world’s best beer, according to “Men' s Journal” ...more info

Australia: By August 2006 one brewery will be built in Cowaramup region ...more info

USA: Tempo Beer Industries gets the franchise to market Samuel Adams beer ...more info

Japan: Beer shipments for July register a drop ...more info

Czech Republic: Legendary Czech B.B. Burgerbrau beer obtainable from now on in Unites States ...more info

Germany: Regional overview of barley harvests ...more info

Thailand: The Buddhist monks’ and anti-alcohol campaigners’ protests made the listing of Thai Beverages to be postponed ...more info

USA: Seattle-based Pyramid Breweries links its results to Portland Brewing brands acquisition ...more info

USA: South Dakota’s barley harvest conditions ...more info

UK: Adnams employs Germans to replace its present equipment ...more info

Australia: Malt Exports for July-March periods of 2004 and 2005 ...more info


Brewery News

Brazil: AmBev Reports Second Quarter 2005 Results

Companhia de Bebidas das Americas - AmBev , the world's fifth largest brewer and the leading brewer in Latin America, announced on August 10 its results for the second quarter 2005 (2Q05). The following financial and operating information, unless otherwise indicated, is presented in nominal Reais pursuant to Brazilian Corporate Law.

AmBev's consolidated results are the sum of the three following business units:
-Brazil: comprised of (i) Beer Brazil; (ii) CSD & Nanc (Carbonated Soft Drinks and Nanc - non-alcoholic, non-carbonated beverages); and (iii) Malt and By-Products Sales;
-Hispanic Latin America (HILA): comprising (i) AmBev's average 55.2% economic stake in Quinsa; and (ii) HILA-ex (which corresponds to AmBev's controlled franchises in Northern Latin America); and
-North America: representing the operations of the Canadian franchise Labatt Brewing Company Limited ("Labatt"). Comparisons, unless otherwise stated, refer to the second quarter 2004 (2Q04).

Operating and financial highlights:
-Consolidated EBITDA reached R$1,418.2 million (+92.9%); EBITDA margin reached 38.3% (+460 bps).
-Solid growth in volumes and net revenues per hectoliter in Brazil; total net revenues of this business unit grew by 23.1%.
-HILA's sales volumes increased by 11.5%; in June AmBev reached its all time high market share in Venezuela, of 14.5%.
-Labatt's EBITDA margin reached 35.0%; EBITDA was of R$384.1 million ...

...more info

China: The 2008 Olympic Games has a new sponsor- Beijing Yanjing Brewery Co

Beijing Yanjing Brewery Co. Ltd has been selected as the official domestic beer sponsor of the 2008 Olympic Games, organisers announced on August 10 according to Xinhua. Yanjing's signing up means the 2008 Olympics have two sponsors in the beer category as Busch-Anheuser Budweiser Beer signed last year as the international beer sponsor to support the Games.

There is an established principle in Olympic marketing that only one enterprise can be selected as the sponsor and enjoys exclusive marketing rights within the designated product category. "This is an exception," said Yuan Bin, marketing director of the Beijing Organizing Committee for the 2008 Olympic Games (BOCOG). "The IOC and BOCOG jointly decided to give both enterprises the sponsor status in light of the special situation," she added. Yuan added that the two breweries enjoy the same rights and obligations.

Yanjing, one of China's leading brewery based in Beijing, will provide funds, beer products and related services to the Beijing 2008 Olympics and Paralympics, BOCOG, the Chinese Olympic Committee and the Chinese sports delegations to the Turin 2006 Winter Olympics and 2008 Olympics. Li Fucheng, Yanjing's chairman of board, said ...

...more info

Denmark: Carlsberg releases financial results saying annual profit expectations are maintained

Denmark’s Carlsberg announced on August 11 its financial results for the second quarter of 2005. The company says they obtained good results in Q2 and annual profit expectations are maintained.

• Beverage activities showed increased profit in all regions in Q2.
• Net revenue increased by 5% in H1 to a total of DKK 17.8bn, driven by the positive trend in BBH and the other Eastern European activities.
• Operating profit (EBIT) in H1 amounted to DKK 1,328m of which profit from beverage activities accounted for DKK 1,314m (DKK 1,105m in H1 2004), corresponding to an increase of 19%.
• Carlsberg's share of profit for H1 increased to DKK 314m (DKK 104m in H1 2004).
• Annual profit expectations maintained. Operating profit approximately DKK 3.4bn, Carlsberg's
share of profit up by approximately 15%.

BUSINESS DEVELOPMENT
H1 shows a healthy development with progress in activities and profitability. Beer volumes (calculated proportionally) rose by 13%, of which 6% was organic growth, and operating profit from beverage activities was up by 31% in Q2 and 19% in H1. The growth markets in Eastern Europe, including Russia and Poland, have contributed significantly to this development.

The Carlsberg brand saw a decline of 5% which should be seen in the light of ...

...more info

Australia: Lion Nathan Confirms 2005 Net Profit after Tax Guidance of $230-$235m

Lion Nathan brewery announced on August 11 that they remain on track to deliver full year Net Profit after Tax (‘NPAT’) from Operations of between $230 million and $235 million, prior to one time charges.

Commenting on the third quarter results to June 2005, Lion Nathan CEO Rob Murray said: “The performance of our Australian beer business has improved over the year and while the New Zealand beer market remains challenging, it is pleasing to confirm our previous guidance of full year NPAT from Operations of between $230 and $235 million. This is prior to the impact of previously announced one time costs relating to the Two Dogs product recall of $5.8 million and other fourth quarter one time charges.”

Total beer volumes for the group were flat for the third quarter at 188 million litres excluding licensed XXXX volume in the UK and the discontinued China business (74 million litres, 2004).

Australian beer volumes were marginally ahead of the same quarter last year but on a year to date basis were slightly lower reflecting overall market volume decline. The impact of the lower year to date volume was offset by the value benefits of continued growth in ...

...more info

Canada: Sleeman reports second quarter results

Sleeman Breweries from Canda released on August 10 its financial results for the second quarter ended July 2, 2005.

Second Quarter Financial Highlights
- Net revenue was $57.9 million compared to $58.7 million for the same period last year.
- Earnings before interest, taxes, depreciation and amortization (EBITDA) were $7.7 million compared to $9.0 million
- for the same quarter last year. The decrease in quarterly EBITDA was due primarily to the $1 million increase in last
- year’s second quarter results from the effects of the large brewers’ distribution company strike in British Columbia.
- Total selling, general and administrative (SG&A) expenses increased $2.6 million to $21.8 million resulting from the
- inclusion of Unibroue which was acquired June 30, 2004 and the timing of marketing expenditures.
- Net earnings were $2.5 million, compared to $3.8 million in the second quarter of 2004.
- Normalized diluted earnings per share were $0.17 vs $0.23 in the prior year. Reported diluted earnings per share were$0.15.

First Six Month Financial Review
· Net revenue increased 1% to $98 million.
· EBITDA was $13.9 million compared to $15.5 million in the first six months of 2004.
· Net income was $4.1 million, or $0.24 per share on a diluted basis, compared to $6.1 million, or $0.37 per share in thesame period in ...

...more info

Malt News

Denmark, Sweden and U.K: Planting pattern of principal malting varieties

Denmark, Sweden and U.K some of major malting barley countries of the EU report the following provisional planting pattern of their principal malting varieties:

-Sweden: Prestige, Barke, Class, Alliot in the South, Astoria in Central Sweden.
-Denmark: Prestige 33 %, Power 17 %, Class 12,5 %, Barke 12 %, Sebastian 7,5 % of malting barley varieties.
-U.K: Pearl 48 % of all winter, Optic 33 %, Cocktail 39 %, Cellar 5 % of all spring barleys.


UK: Greencore gives a new lease of life to its malting plant from Carnoustie

A Greencore’s barley malting plant, having occupied a famous site in the west end of Carnoustie for more than 30 years, is set to be given a new lease of life as a housing development according to Evening Telegraph .

Sheffield-based Greencore Malting Group has submitted outline plans to develop the site for residential use and the application has been recommended for approval by planning and transport director Alex Anderson. In a letter submitted in support of the application, Greencore’s agents state the company wishes to dispose of the redundant industrial site and that, by identifying it as a brownfield site suitable for housing, pressure on greenfield land in the area would be reduced.

The company have carried out a ‘desktop’ study to address the potential of contamination at the site, the results of which will be made available to potential purchasers. Two letters of representation have been received in relation to the application — one from the Carnoustie Business Association and one from a householder whose property is adjacent to the site.

The CBA have expressed the view that the application may be contrary to Angus Local Plan and that “the presence of ...

...more info

Barley News

China: One million tonnes of Australian malting barley exported this year to China

There was always a natural link between the demand for Australian beer consumption and malting barley, but it now seems the relationship has become dependent on how much beer the Chinese are drinking, according to Easygrain as of August 10.Chinese beer drinkers and Australian graingrowers have developed a common interest when it comes to beer, with one million tonnes of this year’s barley harvest exported to China.

More than 60 % of export malting barley is bound for Chinese breweries, which are being pushed hard by that country’s astounding growth in demand for beer. Chinese beer consumption is growing at 10 per cent a year and the supplier quenching most of that thirst is Australia, with a forecast 1.15 million tonnes of our malting barley to be exported to China in 2005/06. The next biggest, Canada, will supply less than half that.

Australia is lucky to have the majority share of this huge market, but we can’t afford to sit back and sip our beer, as plenty of other countries are willing and able to take some of the froth off the top. Addressing the Grains Research and Development Corporation supported ‘Investing in the Future’ Nuffield seminar, experienced ...

...more info

Canada: Analysts’ forecasts on barley production and exports

The barley production of Canada is forecasted to stay in 2005/2006 unchanged from the 2004/2005 level of 13.2 MMT, despite a general drop in seeded acreage.

The forecasted higher-than-average crops of Saskatchewan and Alberta will more than offset the small decline in seeded acreage, thereby holding barley production at the same level as the 2004/2005 crop year.

Moreover, whole supply is expected to increase from 15.4 MMT in 2004/2005 to 16.3 MMT in 2005/2006 as a result of high carry-in stocks of low quality barley from the 2004/2005 crop year and the steady production level.

The exports of barley are forecast to increase to 2.6 MMT in 2005/2006 from 1.3 MMT in 2004/2005 as result of an increase of higher quality malting barley and limited export competition for feed barley. Imports of barley in 2005/2006 are expected to decline as a result of high carry-in stocks, steady production and an increase in higher quality barley.

Domestic use of barley will continue to remain high the high carry-in stocks of low quality barley and steady production provide ample feed supplies for livestock producers. Barley ending stocks are forecast to decline from 3.1 MMT in 2004/2005 to 2.7 ...

...more info

Malting barley prices. French barley prices.
Nominal prices.

EURO = USD 1.2468 August 12, 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  121.00  151.00 
2RS  Prestige  nq  nq  121.00  151.00 
2RS  Cellar  nq  nq  121.00  151.00 
2RS  Aspen  nq  nq  nq  nq 
2RS  Optic  nq  nq  nq  nq 
2RS  Sebastien  nq  nq  120.00  150.00 
2RS  Astoria  nq  nq  120.00  150.00 
2RS  Cork   nq  nq  119.00  148.50 
6RW  Esterel   nq  nq  108.00  135.00 
nq - Not quoted
Prices for Danish and UK malting barley are available on site www.e-malt.com/MarketPrices

Table of the week
EU Malt Export Licence Fixations:

(in tonnes)   2001-2002   2002-2003   2003-2004  2004-2005   July 01, 2005 - July 27, 2005  
 France   701,134  661,772  774,761  674,140  60,000 
 Germany   468,314  408,063  422,047  295,876  10,340 
 Belgium   296,368  287,850  317,292  418,344  44,287 
 U.K. 350,621  294,995  443,501  201,892  33,093 
 Finland   91,890  100,758  114,165  64,986  1,020 
 Denmark    96,812  94,791  90,452  74,743  6,500 
 Sweden   101,000  76,916  78,369  88,840  8,000 
 Netherlands   51,310  66,219  80,703  49,128  3,940 
 Ireland   35,145  31,140  38,900  56,924  - 
 Austria   8,840  8,620  60,211  16,954  1,500 
 Spain   2,400  5,640  10,000  -  - 
 Greece   1,744  1,306  979  130  - 
 Portugal   221  85  695  850  85 
 Italy   -  2  -  -  - 
 Total EU 15  2,205,799  2,038,157  2,432,075  1,942,807  168,765 
 New EU members  May-June, 04     
 Czech Republic       34,340  82,062  3,135 
 Poland       7,604  32,084  - 
 Hungary       2,830  85,792  1,454 
 Slovakia       1,000  76,916  7,489 
 Total EU 25   2,205,799  2,038,157  2,477,849  2,219,661  180,843 

  Total Wheat malt, tonnes  
Total 2001-2002    12,805 
Total 2002-2003    30,908 
Total 2003-2004    15,768 
Total 2004-2005    8,162 
July 01/2005 – July 27/2005    500 
   
  Total Roasted malt, tonnes  
Total 2001-2002    23,480 
Total 2002-2003    23,603 
Total 2003-2004    24,438 
Total 2004–2005    27,212 
July 01/2005 – July 27/2005    1,506 
Graph of the week
Source: Brasseurs Belges

Agenda
August 2005:
IFDE INDIA 2005 / INTERNATIONAL FOOD & DRINK EXH
Great British Beer Festival BA Gathering
Flour City Brewers Fest,the summer beer event in Rochester
FOOD EXPO 2005, Hong Kong. Food & Beverage
18th Annual Great Taste Of The Midwest
FOOD INGREDIENTS SOUTH AMERICA 2005, Sao Paulo, Brazil
35th BCCA Canvention 2005

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

October 2005:
7th Annual Charlotte Oktoberfest
Custom Brewcrafters Autumn Festival Of Ales
MBAA Brewing & Malting Science Course
BJ's Beer Appreciation Night Woodland Hills - Oktoberfest - Bavaria's Best Beers
10th Annual World Beer Festival
5th Annual Autumn Brew Review
Anuga 2005,a biennial show and is known as the world’s most important trade fair
New England Beer Fest


More events are available on site e-malt.com
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