If you want to see the web version you may click here or access http://e-malt.com/Publications.asp?Command=PublicationShow&PublicationID=1510
E-Malt.com NewsLetter.
Sent to: . 
User ID: @USERID@.

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
Table of the week
Graph of the week
Agenda
Do you know e-malt.com?



Average market prices Change trend

09 Nov - 11 Nov 2005
Crop 2005
2rs Barley €117.0-118.0 +0.37%
6rw Barley €104.0-106.0

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.


Easy E-malt.com




Access to E-malt.com

User name

Password


Use the above form to have a full immediate access to E-malt.com site!

Through the drop-down menu you can easily remind your username and password; change your username and password or even edit your account!




Do you know
E-malt.com ?

Dear E-malt Reader!

E-malt.com Newsletters Archive could be found directly on e-malt.com site. Browsing through our Newsletters' Archive you may see all the issues you have missed. To this purpose you just have to login e-malt.com and click on Newsletters link in the menu. Reading our Newsletters you will be kept informed with the latest news and events regarding malting and beer world. You may also submit your own news, events or other information to the address info@e-malt.com!

Updated figures related to USA barley and malt trade with Mexico and Canada could be seen in NAFTA section of e-malt.com menu. To this purpose please enter e-malt.com!

You may find updated malt, barley and beer statistics on e-malt.com Statistics section. Just enter e-malt.com! Here you will find all tables issued with e-malt.com newsletters.

E-malt.com Agenda gives the possibility to keep you informed about the Events planned to be held in the whole world related to the brewing and malting industries. To this purpose you just have to login e-malt.com and click on Agenda link in the menu. Reading our Event Agenda you will find out about the future symposia, conferences and festivals related to malting and beer world. You may also submit your own events to the address info@e-malt.com

E-malt.com has Trading Online system. The system is to be used for malt/barley trading. One can register a malt/barley offer or a malt/barley request. The registering person could be as a seller/buyer or as an agent for seller/buyer. The User can see information about all active malt/barley offers & requests. If needed the system allows user to buy/sell malt/barley due to reasonable offers/requests. The way to do this is to confirm reasonable transaction. Trading Online rules are available through the Internet in the Trading Online as well as Tutorial (useful for persons who starts the system usage). To visit the E-malt Trading Online first go to the E-malt.com site, then click Trading Online link in the left menu of the e-malt.com home page. For more details please contact info@e-malt.com

Thank You!


E-malt.com Links!


Other e-malt.com newsletters

Last five newsletters
See this Newsletter!
Newsletter 45a, 2005

See this Newsletter!
Newsletter 44b, 2005

See this Newsletter!
Newsletter 44a, 2005

See this Newsletter!
Newsletter 43b, 2005

See this Newsletter!
Newsletter 43a, 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


E-malt.com graphs

All graphs issued with e-malt.com newsletters are published in "Graph" section of e-malt.com site.
Last five graphs



The graphs are updated from time to time. Just see the updates online on e-malt.com site !


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.


Last five tables
search in statistics



Note

If you have any comments, questions, suggestions or remarks, you can send a mail to: info@e-malt.com. To submit your own news to our editorial team, email to: info@e-malt.com


If you have received this newsletter from a colleague, you can obtain your own subscription here! You are not registered yet? You may register here.


You may recommend our site to your friend by clicking here


If you do not wish to receive our newsletter, please unsubscribe your e-mail address from our mailing list by sending us an e-mail info@e-malt.com. Please take into consideration your registration data .

E-malt.com Newsletter 45b
November 09 - November 11, 2005

Quote of the week

"Do not take life too seriously. You will never get out of it alive."
Elbert Hubbard: (American writer 1856 - 1915)

Currency Rates
Base Currency: Euro, EUR
on 11-November-2005

1 EUR = 1.1685 USD
1 EUR = 0.6715 GBP
1 EUR = 1.3912 CAD
1 EUR = 1.6022 AUD
1 EUR = 138.2 JPY
1 EUR = 2.5298 BRL
1 EUR = 33.7089 RUB
1 EUR = 9.4497 CNY
Base Currency: US Dollar
on 11-November-2005

1 USD = 0.8558 EUR
1 USD = 0.5745 GBP
1 USD = 1.1906 CAD
1 USD = 1.3712 AUD
1 USD = 118.25 JPY
1 USD = 2.165 BRL
1 USD = 28.848 RUB
1 USD = 8.087 CNY

EUR/USD Chart

Equities of the Largest Breweries

Top Industry News
Belgium: InBev Third quarter 2005 results-continued growth... Click here

UK & South Africa: SABMiller announces ITS IFRS results saying growth demonstrates strength of global footprint... Click here

Japan: Shipments of beer, beer-like drinks in Japan increased by 2.5% yoy in October... Click here

Russia: Yarpivo merges with Voronezh brewery... Click here

Singapore: Fraser & Neave 2004/2005 profit up 2.6 pct... Click here

World: Forecasts on the evolution of malt world trade... Click here

South America: Malt bookings and its prices in South America... Click here

France: ONIC’s forecast for barley production in 2005-2006 is of 10.5 million tonnes... Click here

Denmark: Report from Danish analysts on Scandinavian malting barley market... Click here

USA: Beer's hops inhibit cancer-causing enzymes, according to the latest research... Click here

More News
Japan: Kirin Brewery reported a 3.4 % rise of group operating profit for Q3 2005 ...More Info

Australia: ABB Grain announces first harvest advance in South Australia ...More Info

Australia: Coopers and Lion Nathan dispute in hostile bid ...More Info

Russia: Efes is likely to build the largest brewery from Siberia in the region of Kemerovo ...More Info

UK: Great Britain remained InBev’s most challenging market in Western Europe ...More Info

Canada: Estimation of Canadian barley harvest ...More Info

Ukraine: Sarmat Brewing group increased its beer sales by 27% in Jan-Oct 2005 ...More Info

UK:Young’s brewery announces lower profit and tough prospects ...More Info

India: SABMiller planning to expend in India ...More Info

Europe: Brewers cover malt needs from Russia and EU ...More Info

Malaysia: Guinness brewery expects the consumption of lager and stout to decrease in Malaysia ...More Info

Romania: URSUS Breweries announces 28% increase in turnover for the first half of the year ...More Info

Canada: WGRF to help barley farmers capitalize on expanding opportunities for barley ...More Info

Belgium:The faster than expected increase of Stella Artois sales drives up InBev’s performance ...More Info

USA: G.K. Skaggs has signed agreement with Karlsberg Germany to import and market its premium beers ...More Info

Australia: Overview on Australian crop forecasts ...More Info

Canada: Molson Coors Brewing Company announces quarterly dividend ...More Info

UK:Diageo issues issued supplementary schedules in respect of its transition to IFRS financial reporting ...More Info

Canada: Molson Coors announces the appointment of Gary S. Matthews to its Board of Directors ...More Info

Canada: Sleeman Breweries announces on launch of Sleeman India Pale Ale ...More Info

South Africa: Bavaria Breweries expands locally ...More Info

Australia: ABB Grain announces estimated Silo Returns and cash prices for barley ...More Info

Canada: Beer industry in front of many challenges ...More Info

Italy: Provoking beer ad creates chaos on the streets of Italian city ...More Info

USA: AB launches innovative holiday-themed packaging ...More Info

UK: Stolen Keg, those responsible face stiff penalties states BBPA ...More Info



Brewery News
Belgium: InBev Third quarter 2005 results-continued growth

InBev the world’s leading brewer by volume, announced on November 19 its results for the third quarter of 2005(3Q05) and nine months year-to-date (9M05):

Organic beer volume growth of +6.8% in 3Q05 and +6.0% 9M05 year-on-year (yoy); consistent with its long term target to grow volumes more than twice the industry average

Volumes of InBev’s Global Flagship brands grew much faster than group volume, up by +12.0% in 3Q05 and +11.8% 9M05 yoy

Organic revenue increased by +8.4% 3Q05 and +7.3% 9M05 yoy, also in line with its target to grow revenue/mix by 1%

EBITDA margin expanded to 30.2% 3Q05 and 27.7% 9M05, versus 28.6% in the third quarter of 2004 (3Q04) and 25.1% for the nine months year-to-date 2004 (9M04) .Normalized profit attributable to InBev equity holders of 325 million euro

Significant progress made to drive value creation: a more balanced operational performance across the different Zones; improved capital structure through share buy-back of 3.5 million InBev shares; focused deployment of invested capital via buy-out of minorities in KK (China), sale of German soft drinks and Spanish beer businesses; capacity constraint in Russia alleviated by Tinkoff acquisition

As part of InBev’s efforts to improve disclosure and transparency, in addition to the third ...
More Info


UK & South Africa: SABMiller announces ITS IFRS results saying growth demonstrates strength of global footprint

SABMiller announced on November 10 its first IFRS results for the six months ended 30 September 2005. All comparatives have been appropriately restated.

Group lager beer volumes up 10.5% to 91 million hls, organic growth of 5.6%
• Group EBITA margin further improved to 16.0%
• Strong South Africa Beverages performance
• Miller performed satisfactorily in an intensely competitive environment
• Europe benefited from strong contributions in Poland and Czech
• Good contribution from Africa and Asia driven by China, Mozambique and Tanzania
• Major transaction involving Bavaria in South America completed on 12 October

Statement from Graham Mackay, Chief executive
“The group has delivered further increases in volumes and earnings in the first half, reaffirming our
strong growth profile within the global brewing industry.
“Despite the intensely competitive pricing environment in the US this summer, Miller has continued to
invest in its brands and its organisation to strengthen its base for sustainable future growth. South
Africa’s strong contribution has been supported by further operational improvements as well as robust
consumer growth in the local economy.
“The group has successfully secured a controlling interest in the leading Andean brewer Grupo
Empresarial Bavaria, which delivers a new platform for growth on the South American continent.”


Business review
A good performance was achieved against the comparable prior period’s high ...
More Info


Japan: Shipments of beer, beer-like drinks in Japan increased by 2.5% yoy in October

Shipments of beer and beer-like alcoholic drinks by five Japanese brewers rose 2.5 % in October from a year before for the third straight monthly increase as higher temperatures stimulated demand, industry groups said Friday, November 11, according to Kyodo News.

The shipments by Kirin Brewery Co., Asahi Breweries Ltd., Suntory Ltd., Orion Breweries Ltd. and Sapporo Breweries Ltd. totaled 39.96 million cases during the period. One case holds 12.66 liters, or the equivalent of 20 633-mlliliter bottles.

Shipments of so-called "third-category beer" -- beer-like sparkling alcoholic beverages subject to lower liquor taxes --jumped 3.2-fold to 6.83 million cases, accounting for 17.1 percent of total shipments in October.

Beer shipments posted a 2.0 percent rise to 22.60 million cases. The shipments increased for the first time in two months, helped by brisk sales of beer for restaurant use.

"Happoshu" low-malt beer shipments fell 28.4 percent to 10.53 million cases, hit by explosive growth in sales of the beer-like sparkling alcoholic beverages. Happoshu shipments fell below the year-before level for the 15th straight month.


Russia: Yarpivo merges with Voronezh brewery

Yarpivo Brewery, one of the biggest players on the Russian beermarket, based in Yaroslavl and the Voronezh-based Voronezh Brewery have merged in spite protests from minority shareholders, the two breweries said. The single government register of legal entities registered the end of activities by the Voronezh Brewery on October 19, Interfax agency reported on November 9.

According to a recent decision by Yarpivo shareholders, the company will be "the legal successor of all rights and liabilities of the Voronezh Brewery from the moment the end of activities is registered in the single government register."

Voronezh Brewery cessed its activities after an extraordinary shareholders' meeting decided on June 14, 2005 to reorganize by merging with Yarpivo, the Voronezh Brewery said. The merger agreement was signed by both parties on April 28, 2005. Under the agreement, the Voronezh Brewery's assets, which were 1.15 billion rubles on March 31, 2005, will be transferred to Yarpivo.

Voronezh Brewery holds assets worth 17.59% of the value of Yarpivo assets, Yarpivo said. Yarpivo owns 80% of the Voronezh Brewery. The purchase price for common named shares in the Voronezh Brewery, which could be bought at shareholder demand according to the law on joint stock companies, ...
More Info


Singapore: Fraser & Neave 2004/2005 profit up 2.6 pct

Fraser & Neave, a Singapore conglomerate that brews beer, owns shopping malls and prints magazines, posted on Friday, November 11 a 2.6 percent rise in full year net profit to S$299.5 million ($176.3 million), according to Reuters.

The group, which co-owns Singapore's most popular beer brand Tiger, said profits would rise in its next financial year but warned that its business faced higher costs.

Shares in the firm, founded as a printing business by Scotsmen John Fraser and David Neave in Singapore in 1883, have risen 4.3 percent since the start of the year, valuing the group at around $2.4 billion.

F&N shares trade at 15.4 times forecast 2005 earnings, slighty more expensive than Taiwanese snack maker Want Want Holdings , which is valued at 13.6 times, Reuters data shows.

Fraser & Neave and Dutch brewer Heineken jointly own Tiger beer maker Asia Pacific Breweries holding 38 percent and 42.5 percent, respectively.

Malt News
World: Forecasts on the evolution of malt world trade

According to the latest forecasts of World Grain Council, the world trade of malt for 2005/06 will decrease continuously in the third season mainly in connection with the continuous reduction of malt imports of Japan and Russia.

It is forecasted, that the Russian malt import in 2005/06 will be lowered by 70 thousand tons, which reflects the increase in the internal malt production replacing the imports.

As a result Russia will reduce almost twice the imports of malt in comparison with 2002/03, when into the country were imported 800 thousand tons.

With lower rates, but the reduction of Japan’s malt import will also continue, where an increase in the demand for the beer substitutes with the low malt content can be noted.

Brazil as before remains the most important importer of malt. For 2005/06 it is forecasted that the import of malt into this country will grow by 3% to the record figure of 930 thousand tons.

In spite of the forecasted decrease in the malt exports, EU keeps confidently its dominating position in the malt world trade. With a noticeable gap after EU come the malt exporters from Australia and Canada.


South America: Malt bookings and its prices in South America

Polar, Venezuela, is reported to have purchased 188,000 tones of malt for 2006, 118,000 tones of two-row spring varieties at prices between € 225,- and € 230,- and 70,000 tones of six-row winter barley malt at € 208/ € 210 FOB in bulk, origin EU.

Analysts report that Ambev (Inbev) booked a total of 100,000 tones, of which 40,000 tones to Brazil, 25,000 tones to Venezuela, 12,000 tones to Cuba, 10,000 tones to Peru, the balance for Ecuador, Guatemala and the Dominican Republic. At least all Pacific coast destinations were apparently covered from Canada.

CIF-prices differed, of course, according to parcel size and destination, the rumoured resulting FOB levels are US $ 260 FOB Canadian Pacific for two-row malt and € 215 FOB EU ports for a 50/50 mix of winter and spring barley malt.

Kaiser and Schincariol of Brazil are in the market now, but have not concluded their purchases yet. Costa Rica is said to have bought 6000 tones at undisclosed terms. SAB has entered the market to cover next year's demand for its new acquisition in Panama.

Barley News
France: ONIC’s forecast for barley production in 2005-2006 is of 10.5 million tonnes

ONIC (Office National Interprofessionnel des Cereales) has increased its forecast for French barley production with 54 thousand metric tonnes for the market-year 2005-2006 up to 10.54 million metric tonnes, compared to 11.04 million metric tonnes in 2004-2005, according to ONIC’s communication from November 9.

ONIC forecast as well 4.4 million metric tonnes of French barley exports to European Union for 2005-2006 (+180,000 tonnes compared to the last month forecast) thanks to the dynamic sales to Spain and Portugal.

France’s barley exports to third countries were forecast at 1 million metric tonnes of barley and 1.5 million metric tonnes of malt, stable figures compared to the last month forecast and compared to exports realized in 2004-2005.


Denmark: Report from Danish analysts on Scandinavian malting barley market

The warm harvesting weather continued all through September and October with few exceptions and today Denmark is 5.2 deg C, above normal November temperatures in the north, the analysts from Danish H. Abildstroem & Co. ApS communicated to E-malt on November 9.

Danes were lacking rain but have recently restored water reserves almost every- where in Sweden and Denmark. Denmark experienced record sun-hours in October, highest figure since 1920 when recording commenced. Finland could use a bit more rain, but if things are turning normal they will get some December snow.

The Danes were the first to issue a prognosis on sown areas for winter crops, showing below. Less wheat and more rapeseed makes total area not much different to last year`s. There was a tendency to believe that the winter sown areas would be a lot bigger than last year leaving less space for the spring crops. At this moment this anticipation seems wrong. On the other hand the last year`s prognosis was more than 30.000 ha away (lower) from reality.
...
More Info

Hops News
USA: Beer's hops inhibit cancer-causing enzymes, according to the latest research

Research at Oregon State University shows that beer contains a micronutrient that inhibits cancer-causing enzymes, United Press International (UPI) posted on November 7.

The compound, xanthohumol, was first isolated by Oregon State 10 years ago and an increasing number of laboratories across the world have begun studying the compound, said Fred Stevens, an assistant professor of medicinal chemistry at Oregon State's College of Pharmacy.

The substance comes from the hops plant used to give beer its aroma and flavor, ABC News reported.

Most beers made today are low on hops, however, and so don't contain much xanthohumol. But beers such as porter, stout and ales have much higher levels of the compound. Mice studies show that the compound is metabolized quickly by the body, so it's hard to get a large amount in the body at one time, Stevens said.

"It clearly has some interesting chemo-preventive properties, and the only way people are getting any of it right now is through beer consumption," he said.


Malting barley prices. French barley prices.
Nominal prices.

EURO = USD 1.1685 November 11, 2005 
 Crop year   2005 
 Parity   FOB Creil 
 Position   July 2005 
Type   Variety  EURO  USD 
2RS  Scarlett  119.50  140.00 
2RS  Prestige  118.50  138.50 
2RS  Cellar  118.00  138.00 
2RS  Aspen  nq  nq 
2RS  Optic  nq  nq 
2RS  Sebastien  117.00  137.00 
2RS  Astoria  117.00  137.00 
2RS  Cork   116.50  136.50 
6RW  Esterel   105.00  123.00 
Table of the week

Annual UK Barley Supply And Demand Estimates
(in thousand tonnes)


  2000/01 2004/05 average  2003/04 estimate  2004/05 Oct 2005  2005/06 Oct 2005  % change on 04/05 
 Opening Stocks  1,101  950  873  932  7% 
 Production  6,293  6,370  5,815  5,545  -5% 
 Imports  78  66  80  80 
 Total Availability  7,472  7,386  6,768  6,557  -3% 
 Human and Industrial Consumption  1,902  1,935  1,781  1,719  -3% 
 (of which home grown)  1,914  n/a  n/a  n/a 
 Usage as Animal Feed  3,426  3,494  3,137  3,021  -4% 
 (of which home grown)  3,533  n/a  n/a  n/a 
 Seed  161  152  141  137  -3% 
 Other  31  32  29  28  -3% 
 Total Domestic Consumption  5,520  5,613  5,088  4,905  -4% 
 Balance 1,951  1,773  1,680  1,652  -2% 
 Exports  919  900  748 
 Intervention Stocks  60  16 
 Exports/Intervention Stocks  979  900  764  645  -16% 
 Commercial End-Season Stocks  972  873  916  1,007  10% 
Source: DEFRA Graph of the week

Source: IGC

Agenda
November 2005:
Weekend of Belgian BeersFestival
THE DUTCH BEERFESTIVAL
Brew BLAST. Annual Beer, Lager, Ale, and Stout Tasting
Georgia Craft Brew Challenge
Maine Beer Festival
US Grains Council International Malt Barley & Malting Buyers Conference San Francisco,
GlobalGrain 2005 For more information on GlobalGrain 2005
Regina Festiv-Ale. A premium beer festival featuring the best beer from Canada
Brewtopia. The event has two tasting sessions, local brews, live entertainment, food
Festival of Barrel-Aged Beer
Great International Beer Festival
Phinney Neighborhood Association Beer Taste
Orlando Beer Festival
Great Brews of America Beerfest
5th International Forum " Drinks Industry 2005"

December 2005:
Holiday Ale Festival.
Beer Tasting & Education.
Great Welsh Beer & Cider Festival features 150 Beers and 40 Ciders.
Americas Food & Beverage Show.
BrewTech International Exhibition of Beverage and Brewery Processing and Packaging
10th Annual Holiday Ale Festival .
9th Annual San Diego Strong Ale Festival.
2005 Winter Beer Festival
Winter Beer Festival...
Charity Beer Walk features.
Beer & Cheese Tasting Series American & British Ales.
December Holidaze Beer Tasting.
Kerstbierfestival (11th Christmas Beer Festival). O.B.E.R.

January 2006:
Big Beers Belgians & Barleywines Festival
Great Alaska Beer & Barley Wine Festival.
The Great Alaska Beer
St. Paul Winterfest.


More events are available on site e-malt.com
Copyright © E-Malt s.a. 2005