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E-Malt.com NewsLetter
Flash Summary

RombBullet Quote of the week
RombBullet Currency rates
RombBullet Brewers equities
RombBullet Market prices change trend
RombBullet Industry news
RombBullet Graph of the week
RombBullet Table of the week
RombBullet Prices evolution
RombBullet Barley prices
RombBullet Theoretical malt prices
RombBullet Scientific digest
RombBullet Business history
RombBullet Agenda
RombBullet News articles

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E-Malt.com Flash 09a
February 26 - February 28, 2018

Quote of the Week

A cloudy day is no match for a sunny disposition.
William Arthur Ward

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Currency Rates

Base Currency: Euro
on February 28, 2018
Base Currency: US Dollar
on February 28, 2018
      1 EUR = 1.2301 USD
1 EUR = 0.8840 GBP
1 EUR = 1.5647 CAD
1 EUR = 1.5698 AUD
1 EUR = 131.7700 JPY
1 EUR = 3.9831 BRL
1 EUR = 68.6599 RUB
1 EUR = 7.7665 CNY
      1 USD = 0.8135 EUR
1 USD = 0.7173 GBP
1 USD = 1.2713 CAD
1 USD = 1.2771 AUD
1 USD = 107.1200 JPY
1 USD = 3.2328 BRL
1 USD = 55.6717 RUB
1 USD = 6.3107 CNY

Currency Rates Chart

Equities of the Largest Breweries

Breweries Equities

Average Market Prices Change Trend

February 28, 2018
French Barley/Malt
Crop 2017
2RS Malting Barley (FOB Creil) 184.50-186.50 down0.54%
6RW Malting Barley (FOB Creil) 158.00-160.00 up0.63%
2RS Malt (FOB Antwerp) 383.50-385.50 down0.32%
6RW Malt (FOB Antwerp) 351.00-353.00 up0.35%
Feed Barley (FOB Creil) 158.00-160.00up1.27%
French Barley/Malt
Crop 2018
2RS Malting Barley (FOB Creil) 186.50-188.50 -
6RW Malting Barley (FOB Creil) 160.00-162.00 up0.63%
2RS Malt (FOB Antwerp) 382.50-384.50 -
6RW Malt (FOB Antwerp) 350.00-352.00 up0.35%
Feed Barley (FOB Creil) nq 
German Malting Barley
Crop 2017
Ex Farm
Average Malting Barley Price 191.50-193.50 up0.13%
Danish Malting Barley
Crop 2017
Free on truck
Ex Farm
Malting Barley (East) 1,184.00-1,186.00 -
Malting Barley (West) 1,184.00-1,186.00 -
Danish Malting Barley
Crop 2018
Free on truck
Ex Farm
Malting Barley (East) 1,174.00-1,176.00 -
Malting Barley (West) 1,174.00-1,176.00 -
Canadian Barley/Malt
Crop 2017
2-Row Malting Barley, bulk, truck/railcar, Winnipeg 310.00-312.00 -
2-Row Malting Barley, bulk in store, Vancouver 329.00-331.00 -
6-Row Malting Barley, bulk, truck/railcar, Winnipeg nq  
2-Row Malt, bulk, truck/railcar, Winnipeg 649.00-651.00 -
2-Row Malt, bulk in store, Vancouver 649.00-651.00 -
6-Row Malt, bulk, truck/railcar, Winnipeg nq  
Feed Barley, basis Lethbridge 231.00-233.00 up3.57%
Feed Barley, basis Winnipeg 231.00-233.00 up3.57%
Feed Barley, bulk in store, Vancouver 294.00-296.00 up2.79%
US Barley
Crop 2017
2-Row Malting Barley, bulk, railcar Great Falls, Montana 170.00-172.00 -
6-Row Malting Barley, bulk, railcar Minneapolis, Minnesota nq  
Feed Barley, basis Great Falls, Montana 115.00-117.00 -
Feed Barley, basis Minneapolis, Minnesota 130.00-132.00 -
-No change; upPrice increase; downPrice decrease versus last publication.

Click here to see our Market Prices History.

Top Industry News

Malt news UK: UK’s brewers, maltsters, and distillers increase barley and wheat usage in Q4 2017 ...Click here

Brewery news Germany: Number of breweries jumps to 1,492 ...Click here
Brewery news Mexico: Heineken opens its seventh brewery in Mexico, optimistic about talks on revamping NAFTA trade deal ...Click here
Brewery news New Zealand: Volume of high strength beer consumed in New Zealand up 34 per cent last year ...Click here
Brewery news Ethiopia: Heineken not interested in buying any company in Ethiopia – Managing Director ...Click here
Brewery news India: United Breweries confident of maintaining its market share despite competition ...Click here
Brewery news Australia: AB InBev’s Carlton and United Breweries to invest heavily in its Cascade brewery ...Click here

Barley news Canada: Maltsters and farmers singing praises of three emerging barley varieties ...Click here
Barley news UK: Farmers urged to sustain increased barley production levels to meet demand ...Click here

More Industry News

Brewery news Spain: Mahou San Miguel to invest EUR11 mln in craft “brew hub” ...Click here
Barley news France: French farmers begin sowing spring barley ...Click here
Brewery news Thailand: ThaiBev preparing for its biggest baht bond issue ...Click here
Brewery news Slovakia: Beer consumption declines in 2016 ...Click here

Graph of the week

Source: Deutscher Maelzerbund e. V.

Table of the week

UK Barley and Wheat Usage for Malting

Table of the week.
Prices Evolution

Prices evolution

Barley Prices

Theoretical Malt Prices

Scientific Digest


An impressive theoretical approach is being undertaken by French researchers, whom are experts in analysing thiols and thiol precursors in beer, malt and hops. For a couple of years, brewing scientists show that these fruity thiols are key aroma compounds with extremely low flavour thresholds. However the free form of these thiols varies significantly among hop varieties and also in beer. The potential of the thiol aroma compounds is extremely high, however the majority of these compounds is linked to larger protein-type molecules and only released by specific enzyme activity. In this work, a calculation is proposed to determine the thiol potential for the three compounds 3MH, 3MHA, 4MMP. Hop varieties with a high free potential would be more suitable for dry hopping while hop varieties with a high bound potential are more suitable for an earlier addition. The hypothesis is very fascinating but needs to be further investigated with brewing trials. If a strong sensory correlation is established, the proposed "thiol potency values" could provide great value to brewers.


Roland, A.: A Powerful Analytical Indicator to Drive Varietal Thiols Release in Beers: The "Thiol Potency"
Read more

Source: Barth Innovations

These Days in Business History

26 February
1848 - 2nd French Republic proclaimed
1907 - Royal Oil and Shell merge to form British Petroleum (BP)
1993 - World Trade Center bombing
1995 - Barings Bank, one of the oldest and most distinguished investment banks in the world, declares bankruptcy

27 February
1557 - 1st Russian Embassy opens in London, Russia and U.S. sign trade agreement
1990 - Exxon Corp and Exxon Shipping are indicted on 5 criminal counts
1998 - Apple discontinues developing Newton computer

28 February
1956 - Forrester issued a patent for computer core memory
1982 - American Telephone and Telegraph Co. looses record $7 BILLION for fiscal year ending on this day
1986 - European Economic Community sign "Special Act" for Europe free trade


February 2018:
02-04: Brau Kunst Live 2018 (Munich, Germany)
09-12: HoReCa 2018 (Athens, Greece)
17-20: Beer Attraction 2018 (Rimini, Italy)
20-24: Great British Beer Festival Winter 2018 (Norwich, UK)
27-01 March: Beviale Moscow 2018 (Moscow, Russia)

March 2018:
05-07: 105th Brewing and Engineering Conference (Munich, Germany)
06-08: Expo Antad & Alimentaria Mexico 2018 (Mexico City, Mexico)
07-10: Festival Brasileiro de Cerveja 2018 (Blumenau, Brazil)
08-10: Alltech Craft Brews & Food Fair 2018 (Dublin, Ireland)
14-15: BeerX 2018 (Sheffield, UK)
16-18: Barcelona Beer Festival 2018 (Barcelona, Spain)
19-22: IBD Asia Pacific Convention 2018 (Wellington, New Zealand)

April 2018:
08-12: International Malting and Brewing Symposium "13th Trends in Brewing" (Ghent, Belgium)
13-14: Helsinki Beer Festival 2018 (Helsinki, Finland)
28-29: Zythos Beer Festival 2018 (Leuven, Belgium)
30-03 May: Craft Brewers Conference & BrewExpo America 2018 (Nashville, USA)

May 2018:
16-18: Craft Beer China 2018 (Shanghai, China)
22-24: Beer 2018 (Sochi, Russia)
23-27: Latvia Beer Fest 2016 (Riga, Latvia)
31-02 June: Copenhagen Beer Festival 2018 (Copenhagen, Denmark)

June 2018:
06-09: Mondial de la Biere 2018 (Montreal, Canada)
07-08: The Brewers of Europe Forum 2018 (Brussels, Belgium)

10-13: ASBC Malt Flavor and Aroma Symposium 2018 (Roseville, MN, USA)
20-22: Sea Brew 2018 (Manila, Philippines)
29-01 July: Mondial de la Biere 2018 (Paris, France)

August 2018:
03-05: The 22nd International Berlin Beer Festival (Berlin, Germany)
07-11: The Great British Beer Festival 2018 (London, UK)
08-11: Vietfood & Beverage 2018 (Ho Chi Minh City, Vietnam)
10-11: Beervana 2018 (Wellington, New Zealand)
12-15: Brewing Summit 2018 (San Diego, USA)

September 2018:
04-06: food & drink technology Africa (fdt Africa) (Johannesburg, South Africa)
12-14: 6th International Symposium for Young Scientists and Technologists in Malting, Brewing and Distilling (Bittburg/Trier, Germany)
20-22: The Great American Beer Festival 2018 (Denver, USA)
22-07 October: Oktoberfest 2018 (Munich, Germany)

October 2018:
23-26: China Brew China Beverage 2018 (Shanghai, China)
24-26: drink technology India 2018 (Mumbai, India)

November 2018:
13-15: Brau Beviale 2018 (Nuremberg, Germany)

More events are available on site e-malt.com

MaltMalt News Malt

Malt newsUK: UK’s brewers, maltsters, and distillers increase barley and wheat usage in Q4 2017
In Q4 2017, United Kingdom’s brewers, maltsters and distillers used 470 thousand tonnes of barley up 1.1% and 211 thousand tonnes of wheat up ...More info on site

BreweryBrewery News Brewery

Brewery newsGermany: Number of breweries jumps to 1,492
The trend for craft beers saw the number of breweries in Germany jump by 82 in 2017, the same as in the previous eight ...More info on site

Brewery newsMexico: Heineken opens its seventh brewery in Mexico, optimistic about talks on revamping NAFTA trade deal
The world's second largest brewer, Heineken, is optimistic that talks to revamp the NAFTA trade deal will be successful, its Americas division chief said ...More info on site

Brewery newsIndia: United Breweries confident of maintaining its market share despite competition
Bengaluru-based United Breweries Ltd. is confident of maintaining its market share despite stiff competition and rising taxes, Bloomberg reported on February 27.

The beer industry ...More info on site

Brewery newsNew Zealand: Volume of high strength beer consumed in New Zealand up 34 per cent last year
New Zealanders taste for craft beers continues to grow, with the volume of high strength beer consumed up 34 per cent last year, the ...More info on site

Brewery newsEthiopia: Heineken not interested in buying any company in Ethiopia – Managing Director
With the Ethiopian beer market in a stiff competition to interest the pocketbooks of the ever-increasing beer drinking population and BGI Ethiopia scooping little ...More info on site

Brewery news Australia: AB InBev’s Carlton and United Breweries to invest heavily in its Cascade brewery
Australia’s Carlton and United Breweries, part of AB InBev, has announced a A$10.3 mln (US$8 mln) capital investment in Cascade to create a ‘craft brewing hub’ for the Asia Pacific region, BeverageDaily.com reported on February 27. The investment will significantly increase Cascade’s brewing capability at its Tasmania base and ‘launch Cascade as one of Australia’s leading craft breweries’, according to the company. Production will increase by 65%.

“Cascade will expand its craft brewing options, including brewing experimental beers for our Australian and Asia Pacific region operations,” says Carlton and United Breweries.

“It will also brew a number of beers from some of the world’s leading craft brands.”

Established in 1824, Cascade Brewery Co is Australia’s oldest brewery, and uses Tasmanian water from Mount Wellington and Tasmanian grown hops and barley.

Carlton and United Breweries says the investment demonstrates its long-term commitment to the brand and to Tasmania, with the expansion securing existing jobs and creating five full-time positions.

The Tasmanian Government made a A$1 mln contribution to the upgrade.

Beers brewed at Cascade will be distributed across Australia, as well as being exported to Asia Pacific.

Anita Holdsworth has been appointed as Cascade’s brewery ...More info on site

Brewery news Spain: Mahou San Miguel to invest EUR11 mln in craft “brew hub”
Mahou San Miguel is to invest €11 million in the creation of a “brew hub” in Spain, offering a collaborative space for domestic and international brewers to come together to share ideas and develop new beers using the latest technology, The Drinks Business reported on February 28.

The space will be available to “nomadic” beer makers, that do not have their own brewery but are in search of growth, created with the needs of the craft beer industry in mind. The project has been conceived in collaboration with Javier Aldea, the founder of Nómada Brewing – a Spanish craft brewer that Mahou bought a 40% stake of in 2016.

The brewer hopes that the new Mahou San Miguel Brewhub will become a “reference centre” for new beer makers, not only domestically but also internationally, with its facilities capable of producing a wide variety of styles, batches of any size. Notably, it will offer the facilities needed for adapting to new beer trends, including oxidative ageing, cold storage of unpasteurised products, and lager, ale, hybrid or mixed fermentations.

It will also feature a multi-option packaging line that will offer a variety of formats, such as bottle, keg or the can, as well as label ...More info on site

Brewery news Thailand: ThaiBev preparing for its biggest baht bond issue
Thai Beverage is preparing to raise up to Bt50 bln (S$2.09 billion) in its biggest baht bond issue, adding to a string of acquisition-related financings in the local debt market, Reuters reported on February 23.

Bangkok Bank, Bank of Ayudhya, Kasikornbank, Krungthai Bank, Phatra Securities, Siam Commercial Bank and Standard Chartered Bank have won the mandate for the five-tranche bond, which will come with tenors of two to 10 years. Bookbuilding is scheduled for the second week of March.

ThaiBev is targeting a minimum issue size of Bt40 bln with a Bt10 bln greenshoe. The seven banks are finalising the various tranches, which will offer tenors of two, three and five years as well as seven-year non-call five and 10-year non-call five.

Preliminary spread talk is in the range of 45bp-110bp over Thai government bonds across the tranches.

Demand from Thai investors is expected to be healthy, as ThaiBev is a well-known name and a rare credit, which has not sold bonds since 2006. It privately placed a handful of short-dated bills of exchange in 2016 and 2017 but these went to a limited number of investors.

Its identity as an alcohol producer and distributor in a devoutly Buddhist country has caused problems in the ...More info on site

Brewery news Slovakia: Beer consumption declines in 2016
The consumption of beer in Slovakia has declined from over 4.36 mln hl in 2006 to 3.70 mln hl in 2016. Beer consumption was at 68.3 litres per capita in 2016, The Slovak Spectator reported on February 27.

Beer market watchers see several reasons behind the decline.

“Primarily it is the introduction and later increase of the excise tax on beer,” Tomás Vašuta from the specialised website dedicated to beer Opive.sk told the Hospodárske Noviny daily. “The second factor that significantly affects consumption is the opening of the market and extension of what is on offer.”

While in the past Slovaks decided between beer, wine and spirits, today there are also premium distillates and mixed drinks as well as ciders on the market.

Two major breweries - Heineken, which is based in Hurbanovo (Nitra Region) with its economic brand Kelt, and Topvar from Topolčany (Nitra Region), which offers the inexpensive Czech brand Velkopopovický Kozel - dominate the Slovak beer market. In total, the Slovak market features some 70 breweries with Heineken and Topvar accounting for about 80 percent of the market.

Among the most popular premium beers are the Heineken flagship Zlatý Bažant (Golden Pheasant) and the premium lager Pilsner Urquell from Topvar.

BarleyBarley News Barley

Barley news Canada: Maltsters and farmers singing praises of three emerging barley varieties
For a change, it’s not just farmers who are eagerly greeting new malting barley varieties. Maltsters, too, are singing the praises of emerging varieties intended to replace the big two in Canada, the Country Guide reported on February 26.

The Canadian Malting Barley Technical Centre’s 2018-19 list of recommended malting barley varieties emphasizes growing demand for AAC Synergy, plus two new varieties, AAC Connect and CDC Bow.

“I think brewers are very content with Copeland and Metcalfe… but at the same time I think they do recognize that if they want to have a consistent, good-quality supply from Canada, they are going to have to start looking at some of these new varieties that are more agronomically promising for growers,” says Lorelle Selinger, Cargill Malt’s North American merchandising manager.

In 2017, malting varieties accounted for 60.8 per cent of total barley seeded area, with CDC Copeland and AC Metcalfe representing about 81 per cent of the malting total. For the second straight year, Copeland seeded area significantly exceeded Metcalfe area at 49 per cent.

“Copeland is the most popular variety grown in Western Canada because of its diversity in both export and craft brewing markets,” says Kevin Sich, Rahr Malting Canada’s supply chain director.

But ...More info on site

Barley news France: French farmers begin sowing spring barley
French farmers have begun sowing spring barley for this year's harvest, with 6 percent of the expected area sown by February 19, farm office FranceAgriMer said on February 23.

The sowing pace was slower than last year, when 14 percent of the area had been sown by the same date, FranceAgriMer said, suggesting field work this year has been slowed by heavy rain followed by cold spells.

Spring barley is sown earlier than other spring crops like maize (corn) and sugar beet. In its weekly cereal crop report, FranceAgriMer estimated that 85 percent of soft wheat crops were in good or excellent condition by February 19, up from 84 percent a week earlier but below a year-ago score of 93 percent.

Some 94 percent of soft wheat crops had reached the tillering phase, compared with 90 percent a year earlier, and 1 percent was now in the subsequent 1-cm ear growth stage versus zero a year ago, FranceAgriMer said. Grain markets are monitoring a cold spell that is expected to intensify next week, with more advanced crops and those lacking snow cover more vulnerable to frost damage.

France is the European Union's largest cereal producer. For other winter cereals, FranceAgriMer rated 82 percent ...More info on site

Barley news UK: Farmers urged to sustain increased barley production levels to meet demand
With an upturn in whisky production on the cards, a leading UK maltster told farmers on February 23 that they would need to sustain increased barley production levels to meet demand – or face the prospect of some of the major distilling companies tying themselves into long-term commitments for imported malting barley, the Press and Journal reported.

Speaking at the Scottish Agronomy annual conference in Perth, Bob King, commercial director with the Crisp Malting Group, told farmers that the supply chain needed stability and end-users such as the major distillers needed a commitment to sustained production levels to build into their long-term programmes.

However farm manager David Aglen, from Fife, expressed the audience’s view that this story had been heard before.

“We have often been told to build relationships with these buyers – but whenever more barley comes on to the market the price drops.”

Mr King replied that while there had been a lack of communication in the past, the buyers were now beginning to realise that they needed to take some long-term action to ensure the provenance on which they relied.

And he added that with Brexit raising the possibility of tariffs on grain going out and coming in from Europe, both farmers ...More info on site

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