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Newsletter Summary

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

05 Sept - 06 Sept 2005
Crop 2005
2rs Barley €117.0-118.0
6rw Barley €105.0-107.0

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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Other e-malt.com newsletters

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Newsletter 35b, 2005

See this Newsletter!
Newsletter 35a, 2005

See this Newsletter!
Newsletter 34b, 2005

See this Newsletter!
Newsletter 34a, 2005

See this Newsletter!
Newsletter 33b, 2005



Market price evolutions

The evolution of market prices for barley and malt, which are periodically issued with e-malt.com newsletters are published on e-malt.com site in Market Prices section. Just click here!

Available market price evolutions


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E-malt.com Tables

All e-malt.com tables are published in e-malt.com Statistics section. The Statistics section includes Barley statistics, Malt statistics and Beer statistics. The tables related to barley are published in Barley Statistics section, the tables related to malt in Malt Statistics section and the tables related to beer in Beer Statistics section.

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E-malt.com Newsletter 36a
September 05 - September 06, 2005

Currency Rates
Base Currency: Euro, EUR
on 06-September-2005

1 EUR = 1.2535 USD
1 EUR = 0.6799 GBP
1 EUR = 1.4915 CAD
1 EUR = 1.6337 AUD
1 EUR = 136.8 JPY
1 EUR = 2.9287 BRL
1 EUR = 35.3048 RUB
1 EUR = 10.1577 CNY
Base Currency: US Dollar
on 06-September-2005

1 USD = 0.798 EUR
1 USD = 0.5424 GBP
1 USD = 1.1899 CAD
1 USD = 1.3033 AUD
1 USD = 109.17 JPY
1 USD = 2.3364 BRL
1 USD = 28.165 RUB
1 USD = 8.1035 CNY

EUR/USD Chart

Equities of the Largest Breweries

Top Industry News
China: InBev acquires 100% ownership of K.K.... Click here

Netherlands: European Commission accuses 4 Dutch brewers for breaching EU competition rules... Click here

Turkey: Anadolu Efes announced its financial statements for 1H 2005 according to IFRS... Click here

Australia: Coopers Brewery's board unanimously rejects Lion Nathan’s bid... Click here

East Africa: East African Breweries sees growth in dividends... Click here

Japan: As beer sales are dropping, brewers fight over "chuhai” drink... Click here

UK: Concerns over the takeover of Crisp Maltings Group by Ragleth... Click here

Russia: Ochakovo Brewery has launched its second malting plant... Click here

Taiwan: First US barley purchase by Taiwan in four years... Click here

Lithuania: Overview on 2005 barley harvest... Click here

World: Alpha acid content in hops crop 2004... Click here

More News
Czech Republic: Interbrew Central European Holding buys out the minority stock of Pivovary Staropramen ...more info

UK: CAMRA calls Greene King brewery to reconsider closing its Ridleys Brewery ...more info

Australia: Coopers fills an application to Australian Takeovers Panel concerning Lion Nathan’s affair ...more info

Netherlands: Heineken acknowledges EC objection & refrains provisionally from comments ...more info

Russia: Vena Brewery reports increased sales for the first half of 2005 ...more info

USA: Idaho’s barley market trends ...more info

Japan: Asahi breweries withdrawing cans from market because of wrong labelling ...more info

Australia: Coopers advises strongly shareholders to take no action regarding Lion Nathan’s proposal ...more info

Thailand: Thai Beverages makes an IPO filling to Securities & Exchange Commission ...more info

USA: Heineken USA promises minimum $250,000 to hurricane Katrina relief efforts ...more info

Russia: Future trends of Baltica in Rostov region ...more info

UK: Budvar deploys a “10 commandments of the righteous brewer” campaign ...more info

Australia: ABB Grain appoints new General Manager, Trading ...more info

Russia: Baltika will take a decision concerning compromise deal for rebel shareholders ...more info

East Africa: EABL imports new fermentation vessels for Ruaraka plant ...more info

Scotland: Barley yields rated as average to very bad ...more info

Russia: Pension Fund visits Krasnoyarsk Pikra brewery ...more info

Singapore: Carlsberg Singapore to have new managing director ...more info

USA: Molson Coors renews its sponsorship deal with the National Football League ...more info



Brewery News

China: InBev acquires 100% ownership of K.K.

InBev S.A. announced on September 2 that it has acquired the remaining 30% interest in K.K.'s brewing activities, located in the Zhejiang Province in China. This transaction enhances InBev's position in the province -where InBev holds a 50% market share- and represents a further step in InBev's move to consolidate and strengthen its position in China.

InBev acquired a 70% stake of the K.K. brewing activities in April 2003. The K.K. breweries are located in the city of Ningbo, 200 km south of Shanghai. KK is a leading brewer in the Province of Zhejiang and holds an 80% market share in the city of Ningbo, the second largest harbour in China, after Shanghai.

K.K.'s breweries have a capacity of 3 million hl and produced 2.7 million hl in 2004. The company's main brands are K® and Zizhulin®, the leading standard lagers, and the premium brands K.K.® and One Week®. K.K.'s brewing operations include two breweries in Ningbo and Zhoushan, and one bottling line in Yuyao.

The cost of acquiring 100% blended ownership of the company represents an EV/EBITDA multiple of 4.1x and an Enterprise Value per hectoliter capacity of 18.4 USD. The total consideration is 61.5 million USD.

"We are ...

...
more info


Netherlands: European Commission accuses 4 Dutch brewers for breaching EU competition rules

The brewers Heineken, Grolsch, Bavaria and the Dutch branch of Belgium's Interbrew are suspected by the European Commission of having breached European Union competition rules in the Netherlands in the period before 2000, the Business Report announced on September 2.

The European Commission affirmed it had evidence that rival beer companies in the Netherlands agreed on prices, allocated customers, discussed individual customers and exchanged commercially important and confidential information.

All 4 brewers were officially informed that a formal case was being made. The companies have two months to respond in writing. If found guilty, the EU can fine them up to 10 % of their annual sales.

The investigation has been running for years, after Dutch authorities raided the brewers five years ago at the commission request. The same kind of investigations are conducted in Luxembourg, Belgium, France, and Italy.



Turkey: Anadolu Efes announced its financial statements for 1H 2005 according to IFRS

Anadolu Efes, the holding company of Efes Beverage Group’s, announced its financial statements for 1H 2005 prepared in accordance with IFRS. In H12005 the total beer sales volume reached 772 million liters growing by 10% over the same period in 2004. The total soft drinks volume including the Turkish Coca-Cola operations grew by 14% reaching 164million unit cases in H12005. Remarkable top line growth in all business segments led consolidated sales revenues to grow by 24% reaching 558million USD.49% of total Group revenues are generated by the international operations. Consolidated COP reached 156millionUSD in H12005 with a margin of 28%; COP up by 10% vs H12004.Consolidated net profit increased by 26% to 78 million USD inH12005 from 62 million USD in H12004. Consolidated net debt position is 61million USD as of end of H12005.

Domestic sales volume increased by 1% to 331million liters in H12005 in spite of full reflection of the increased special consumption tax in Q12005 to the sales prices. Including the export volume, which grew 35% in H12005, total sales volume of the Turkey beer operations reached 357million liters up3%vs. H12004. Revenues increased to 282 million USD in H12005, up 23% from229 million USD in H12004.The increase in ...

...
more info


Australia: Coopers Brewery's board unanimously rejects Lion Nathan’s bid

Australian takeover target Coopers Brewery announced on August 6 that its directors unanimously rejected a hostile A$352 million ($271 million) bid from Australia's second-largest brewer Lion Nathan Ltd, according to Associated Press. Lion Nathan, 46 % owned by Japan's Kirin Brewery Co, offered A$260 a share for unlisted South Australian-based Cooperswhose brands include Coopers Original Pale Ale and Coopers Sparkling Ale.

"It is the unanimous recommendation of the board to reject the opportunistic Lion Nathan offer. The board strongly advises shareholders to take no action," a Coopers spokesman said at the end of board meeting. Lion Nathan is being advised by the Caliburn Partnership and legal firm Mallesons Stephen Jaques.

Family-owned Coopers, which has about 117 shareholders, has hired N.M. Rothschild & Sons (Australia), with Piper Alderman as its legal adviser.



East Africa: East African Breweries sees growth in dividends

With EABL last week reporting a 22 per cent increase in pre-tax profit of Sh8.6 billion on revenues of Sh34.8 billion, many investors are wondering which other heights remain to be scaled by this brewing firm. With the EABL selling at Sh154 at market close on Friday, the stock has gone up by 54 per cent since it was split at Sh100 last year.

To gain more insights into the challenges and the direction that the company faces, Group Managing Director, GERALD MAHINDA made a statement and answered questions:

“During the past one-year, we have already seen a pick up in consumption both of the branded and illicit alcohol. We would expect that with the economy showing signs of maintaining the growth momentum, this trend should continue.

We believe that if the economy grew by the official projection, five per cent consumption of total alcohol should grow in line with it.

However, the growth of our branded beer depends on how many people we are able to convert from unbranded to branded segments. We have invested heavily, especially in Senator in order to achieve this.

How robust are your spirit brands and the operations in Uganda? Do you expect them to ...

...
more info


Japan: As beer sales are dropping, brewers fight over "chuhai” drink

Japanese brewers are aggressively competing to sell canned shochu drinks with low alcohol content known as "chuhai" to deal with declining beer sales, Kyodo announced on September 6. Sapporo Breweries, one of the nation's four top breweries, marketed the low-alcohol-content beverage for the first time in eight years in September when it rolls out a drink called the Fruit Sparkling.

And its introduction stands for that the four top beer makers in Japan are in the race to sell chuhai, a combination of shochu, a traditional Japanese distilled spirit, and fruit juice or carbonated water. Chuhai an abbreviated term for "shochu highball."

Sapporo previously backed away from the chuhai market after being in business for two years because its product was relatively expensive and not doing so well. It is more optimistic this time around as woman seemed to like the drink during test sales. "A type of chuhai putting emphasis on fruit juice is popular among women," said a clerk at the Kiba branch of Ito-Yokado Co. in Tokyo.

According to analysts women hold the key to the success of canned chuhai, and beverage makers have been successful in changing the image the concoction, which had a ...

...
more info

Malt News

UK: Concerns over the takeover of Crisp Maltings Group by Ragleth

The owner of UK's leading maltster, the Crisp Maltings Group, expressed worries on September 4, that the takeover of the 115-year-old business would lead to job cuts.

The chief executive of holding company Ragleth David Thompson, who came to purchase the Crisp Maltings Group from owner the Anglia Maltings Group on September 31, said there were no plans to change the business in any way.

Mr. Thompson said “There are no proposals to change the business, we are simply replacing one holding company with another. We hope the company continues to expand on its potential”
Ragleth was “delighted” to acquire the prestigious maltings, which is known for its high-quality malt.

Together with the Great Ryburgh maltings, Ragleth has acquired the three other maltings which make up the Crisp Maltings Group - one at Ditchingham near Bungay, and two more dedicated whisky maltings in Scotland.

Crisp Maltings Group runs as well a haulage business to support its operations. In total the group employs just under 300 people. In 2003 parent company Anglia Maltings reported an operating profit of ?3.6m and a turnover of ?51.9m.


Russia: Ochakovo Brewery has launched its second malting plant

One of the biggest Russian breweries, ZAO Ochakovo, based in Moscow, has announced it launched on September 2 its second malting plant in Russia. The new plant is placed in Belgorod and will be able to manufacture about 100 tonnes of malt per annum. Ochakovo has spent 3 years and US$ 40 million for the project. According to Ochakovo’s analysts, the malting plant in Belgorid will have a payback time of 7 years.

The first malting plant of Ochakovo with the capacity of 100 tonnes of malt was launched in September 2003 in Lipetsk region.

According to different estimations, the volume of Russian malt market comes to 1.2-1.6 million tonnes.


Barley News

Taiwan: First US barley purchase by Taiwan in four years

Last week 30 TMT of US barley were sold to Taiwan which represents the first US barley purchase by Taiwan in 4 years, according to Idaho Barley Comission. Taiwan imported a total of 140 TMT of barley in Calendar year 2004 about 60 to 70 TMT malting barley, with most of it supplied by Australia.

So far this year, the Taiwan Barley Products Industry Association has purchased 80 TMT of barley- 50 TMT from Australia and 30 TMT from the US.

The Canadian Wheat Board says Canada will have a large barley export program over the next month, including 177 TMT of feed barley (possibly headed to Japan and/or Saudi Arabia) and 132 TMT malting barley (most likely destined for China).


Lithuania: Overview on 2005 barley harvest

Barley sowing in Lithuania was completed around two weeks later than normal, but the ensuing Summer was quite favourable for plant development and harvesting started end of July. Due to heavy rainfalls in the second week of August, harvest work was delayed, according to a report of Viking Malt.

On the other hand official statistics show that malting barley was sown on 54 500 Ha this year.Tested pre-samples, representing around 15,000 tons shows protein content slightly lower than 11%, normal screening and normal germination capacity.

Hops News

World: Alpha acid content in hops crop 2004

With the 2004 hop harvest, the percentage shares of the world market, which had been disrupted by the unusually dry weather conditions in Europe in 2003, returned to normal, according to this summer Barth report.

Germany and the USA between them accounted for 70.9% of total world alpha production in crop year 2004 (2003: 63.5%). With a share of world alpha production totalling 37.7% (2003: 24.4%), Germany overtook the USA, whose share fell to 33.2% (2003: 39.1%), as the world’s biggest alpha producer. China remained in third place, although its share of 15.8% in 2003 dropped to 8.0% in 2004 as a result of the reduction in acreage and the lower average alpha content there.

In Alpha Group I – fine aroma hops – Germany produced 40.7% (2003: 27.4%), beating the Czech Republic, with 35.6% (2003: 40.6%), into second place. In Alpha Group II – aroma hops – Germany,with 44.0%, also regained the top position it had lost to the USA in 2003 with a share of only 30.2%. The USA’s share in 2004 was only 22.3% (2003: 34.5%). The USA, on the other hand, was able to maintain leadership in Alpha Group III – bitter hops/high-alpha hops – with 38.8%, ...

...
more info


Malting barley prices. French barley prices.
Nominal prices.

EURO = USD 1.2535 September 06, 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  119.00  149.50 
2RS  Prestige  nq  nq  118.00  148.00 
2RS  Cellar  nq  nq  118.00  148.00 
2RS  Aspen  nq  nq  nq  nq 
2RS  Optic  nq  nq  nq  nq 
2RS  Sebastien  nq  nq  117.00  147.00 
2RS  Astoria  nq  nq  117.00  147.00 
2RS  Cork   nq  nq  116.00  145.50 
6RW  Esterel   nq  nq  106.00  133.00 
nq - Not quoted
Prices for Danish and UK malting barley are available on site www.e-malt.com/MarketPrices

Barley Price Evolution

Source: ABARE, September 6, 2005

Table of the week

Finland and Sweden Barley Harvest

  Finland Sweden
2003 2004 2005 2003 2004 2005
Total Spring Barley acreage, in 1000 ha   530  564  600  360  395  395 
Malting barley acreage in 1000 ha  139  145  164  90  90  95 
Total Spring Barley crop, in 1000 tonnes  1650  1850  2000  1470  1700  1600 
Selected malting barley, in 1000 tonnes  170  220  425  360  280  425 
Varieties in 2005  Scarlett (50%)  Prestige (35%) 
Barke (25%)  Barke (15%) 
Saana (20%)  Pasadena (15%) 
Others (5%)  Astoria (30%) 
  Others (5%) 

Source: Viking Malt

Graph of the week

Agenda
September 2005:
International Brewery and Soft Drinks Industry Exhibition
4th WORLD BEER & DRINKS FORUM
Great Canadian Beer Festival
4th World Beer & Drinks Forum 2005
Brew Cruise to New England/Canada
Drinktec 2005
St. Feuillien Dinner at Monk's.
The Berghoff OKtoberfest
Birmingham Beer Festival
40th Annual Mt. Angel Oktoberfest
Fremont Oktoberfest
Munich Oktoberfest 2005
10th Annual Madison County Hop Fest
3rd Annual Big Lake Brewfest
Great Lakes Brew Festv Ludwig's Oktoberfest 2005
New South Wales Brewing Championships 2005
Great American Beer Festival
Keighley Beer
Stockholm Beer & Whisky Festival
Harpoon Octoberfest

October 2005:
7th Annual Charlotte Oktoberfest
Custom Brewcrafters Autumn Festival Of Ales
MBAA Brewing & Malting Science Course, Univ
BJ's Beer Appreciation Night Woodland Hills - Oktoberfest - Bavaria's Best
International Beer Summit / Kokusai Beer Matsuri
5th 2005 Technical Symposium, "The US Brewing Industry Considered"
10th Annual World Beer Festival
5th Annual Autumn Brew Review
Anuga 2005, is a biennial show and is known as the world’s
Maryland Brewer's Oktoberfest
Great Decatur Beer Tasting Festival 2005
Nottingham Beer Festival
Falmouth Beer Festival Cornwall CAMRA
28th Norwich Beer Festival
New England Beer Fest

November 2005:
US Grains Council International Malt Barley & Malting Buyers Conference San Francisco
GlobalGrain 2005
5th International Forum " Drinks Industry 2005"



More events are available on site e-malt.com
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