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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
Table of the week
Graph of the week
Agenda
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Average market prices Change trend
24 Nov - 25 Nov 2005
Crop 2005
2rs Barley €117.0-118.0
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.

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Last five newsletters
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Newsletter 47a, 2005
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Newsletter 46b, 2005
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Newsletter 46a, 2005
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Newsletter 45b, 2005
See this Newsletter!
Newsletter 45a, 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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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.

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E-malt.com Newsletter 47b
November 24 - November 25, 2005
Quote of the week

"Amateurs hope. Professionals work."
Garson Kanin

Currency Rates
Base Currency: Euro, EUR
on 25-November-2005

1 EUR = 1.1789 USD
1 EUR = 0.6843 GBP
1 EUR = 1.3818 CAD
1 EUR = 1.5955 AUD
1 EUR = 140.2 JPY
1 EUR = 2.6431 BRL
1 EUR = 33.9052 RUB
1 EUR = 9.5286 CNY
 Base Currency: US Dollar
on 25-November-2005

1 USD = 0.8485 EUR
1 USD = 0.5805 GBP
1 USD = 1.1721 CAD
1 USD = 1.3534 AUD
1 USD = 118.96 JPY
1 USD = 2.242 BRL
1 USD = 28.76 RUB
1 USD = 8.0826 CNY

EUR/USD Chart

Equities of the Largest Breweries

Top Industry News
China & Japan: Kirin is to double capacity in China, the world’s largest beer market... Click here

Russia: Upper House increases fine for public beer consumption... Click here

Malaysia: Carlsberg's 3Q net profit up 9.96% to RM30.31million... Click here

Belgium: InBev closes consultation process and announces its decision to reduce employee-base at global headquarters... Click here

Canda: Labatt pleads guilty, fined $250K for 'influencing' beer prices in Quebec... Click here

UK: The government allows pubs to apply for a licence to serve alcohol all day and night... Click here

Byelorussia : The malting plant “Belsolod” gets a refusal for the project to build a brewery on its site... Click here

Australia: Pool estimates rise and sliding scale adjusted... Click here

USA: According to initial contract discussions, malting barley prices would be higher for 2006... Click here

New Zealand: Appointment of new CEO for New Zealand Hops Ltd... Click here

More News
Russia: Baltika Brewery wins key court battle ...More Info

China: Anheuser-Busch had suffered no impact from Harbin's poisoned water ...More Info

World: IGC forecast the world barley trade at 17.4 million tonnes for 2005/2006 ...More Info

USA: Anheuser-Busch responds to the Miller claims ...More Info

Australia: Coopers doesn’t accept the new bid of Lion Nathan ...More Info

EU: Barley quality 2005 in Germany and other EU countries ...More Info

Serbia: Pivara Celarevo becomes Carlsberg Serbia ...More Info

Canada: Russell Brewing Company Expands Distribution to Victoria, British Columbia ...More Info

Nigeria: Nigerian Breweries' Q3 profit up 139 % ...More Info

Russia: Efes Breweries International to loose market share in Russia in the 3rd quarter ...More Info

Canada: The brewery of the year was named Pump House ...More Info

Australia: GrainCorp declares positive outlook for the coming harvest despite drop in annual profit ...More Info

Belgium: InBev launches its first Global Citizenship Report ...More Info

India: UB to invest in contract brewer; increases sourcing ...More Info

UK:CAMRA launches campaign group to save Gale’s brewery ...More Info

Canada: CWB announces initial payments for 2005-06 crop year increased ...More Info

UK: Fifth generation family brewer commended for business success ...More Info

USA: Boston Beer Company completes major brewery expansion ...More Info

Canada: PRO for barley pools announced by CWB ...More Info

Denmark: Reporting according to the Danish Securities Trading Act section 28a ...More Info

Australia: Transparency body to raise understanding of ‘single desk’s’ operation ...More Info

Russia: Sun Interbrew decided to apply the European scheme of the delivery of goods to retailers ...More Info

Romania: Tuborg Christmas Beer launched in Romania ...More Info

UK: Licensing reforms will help pub trade in national pubs week and beyond ...More Info



Brewery News
China & Japan: Kirin is to double capacity in China, the world’s largest beer market

Kirin Brewery Company, Limited (“Kirin”), Japan's second-largest beer brewer, announced on November 24 plans to construct a new brewery through Group company Zhuhai Kirin President Brewery Co., Ltd. (“Zhuhai Kirin Brewery”), doubling its production capacity in Zhuhai City. Construction is scheduled to begin in February 2006, for completion in June 2007.

The Tokyo-based brewer currently owns 60% of Zhuhai Kirin President Brewery Co, a venture established in 1996, jointly with its Taiwanese partner Uni-President Enterprises Corp to principally serve southern China.

At the same time, Kirin will commence preparations for Kirin (China) Investment Co., Ltd., Kirin’s holding company in China, to acquire all of the equity held in Zhuhai Kirin Brewery by joint investment partner Uni-President Enterprises Corp. (Tainan Hsien, Taiwan, Republic of China), and make Zhuhai Kirin Brewery a wholly owned subsidiary of Kirin. Basic agreement on the acquisition of shares was reached on November 23, 2005. The transfer of shares is scheduled to take place by the end of the year, at which point the company name will also change to Kirin Brewery (Zhuhai) Company, Limited. The performance of Zhuhai Kirin Brewery to date has been highly rated inside and outside the industry, with the Company receiving a 2004 award ...More Info

Russia: Upper House increases fine for public beer consumption

The upper house Russia voted on November 23 for increasing of fine for public consumption of beer RIA-Novosti announced. This would mean that people drinking beer in public places could be fined up to three times the minimum monthly wage, which at present is of USD 3.50.

In connection with this, Alexei Klishin first deputy speaker of the upper house's committee for legal issues stated in a declaration "The country is experiencing a mass consumption of beer and low-alcoholic drinks on the streets, transport and other public places, which is having a negative effect on the development of children and adolescents and is creating a permissive atmosphere."

In addition to personal consumption in public places, all the adults who will supply beer to those who are younger than 18 years would be fined the same amount.

As well all retailers who sell beer to minors also would be fined, with shop employees paying 20 to 30 times the minimum monthly wage, and shop owners paying 10 times as much.

Malaysia: Carlsberg's 3Q net profit up 9.96% to RM30.31million

Malaysia Carlsberg Brewery announced a 9.96% boost in their net profit to RM30.31 million for the third quarter ended Sept 30, 2005, from RM27.56 million a year earlier, owing to an increase in sales volume before the announcement of Budget 2006.

Carlsberg announced on November 24 its revenue rose 19.17% from RM262.57 million to RM312.93 million due to the increase in sales as a result of heavy pre-budget speculation. On a cumulative nine-month period, it posted a net profit of RM73.63 million, 4.15% lower than RM76.82 million achieved in the previous corresponding period.

Carlsberg stated that the decline was caused a reduction in duty-paid sales because of a contraction of the industry volume that was partially mitigated by increase in export sales and pre-budget speculation. It said sales and marketing expenditure were maintained at a higher level because of investment in the Skol brand and as a result of intense competition in the market.

The brewery expected the rest of the year to remain challenging. It announced that excise duty increase for locally manufactured beer and stout products would adversely affect the growth of the beer and stout markets, which have not recovered from the previous year’s increase.

Moreover, ...More Info

Belgium: InBev closes consultation process and announces its decision to reduce employee-base at global headquarters

Having completed consultation with the social partners, as well as consultation of each of the global functions, InBev S.A. communicated on November 23 its decision to reduce the number of positions at its global headquarters (GHQ) in Leuven, Belgium.

The new organization aims to create clear responsibilities and to eliminate overlapping or duplicated processes and activities across functions, as well as across Zones and GHQ, taking into account the right match of employee profiles with the new organizational requirements.

This decision will lead to a collective dismissal of maximum 45 people, on a current total of about 400 positions.

InBev will now discuss the modalities on the social plan and will start discussions with all concerned employees.

Total estimated one-off costs relating to this restructuring are approximately 10 million EUR. The yearly recurring EBITDA improvement is expected to be around 9 million EUR.

InBev is a publicly traded company based in Leuven, Belgium. The company's origins date back to 1366, and today it is the leading global brewer by volume. InBev’s strategy is to strengthen its local platforms by building significant positions in the world's major beer markets through organic growth, world-class efficiency, targeted acquisitions, and by putting consumers first. InBev has ...More Info

Canda: Labatt pleads guilty, fined $250K for 'influencing' beer prices in Quebec

Labatt Brewing pleaded guilty on November 23 in court to a charge of illegally influencing discount beer prices in Quebec and will pay a fine of $250,000, Candaian Press said on the same date.

Labatt Brewing released later a statement saying it regretted actions which were cited in the case. The ruling by the Court of Quebec follows an inquiry launched in October 2004 by the Competition Bureau into the Quebec beer industry.

The court found that between March 2004 and April 2005, Labatt, "through some of its sales representatives, attempted either by agreement, threat, promise or similar means, to influence upward, or discourage the reduction" of prices at which nine independent grocery retailers sold discount beer from Labatt and other breweries, the Competition Bureau said in a release. Such behaviour is prohibited under the Competition Act.

"Labatt respects and abides by the provisions of the Competition Act and will comply fully with the Quebec Court order to inform our independent retailers in Quebec, in writing, of the provisions," Labatt stated.

"The court acknowledged that the actions which led to the charge did not reflect Labatt corporate policy and that Labatt have never previously been found guilty of any creeiminal ...More Info

UK: The government allows pubs to apply for a licence to serve alcohol all day and night

On Thursday, November 24, the government implemented the biggest change in UK drinking since World War I, allowing pubs to apply for a licence to serve alcohol all day and night. Opponents say the rules will increase alcoholism and crime. Blair says the new laws will make towns safer and drinking more measured.

A spokeswoman for London's Scotland Yard said they had seen no increase in alcohol-related violence after new licensing laws came into effect at midnight on Wednesday, according to Reuters. "Most people tend to go out at the end of the week and over the weekend though, not on a Wednesday night, so we'll just have to watch this space and see what happens," she said.

The government has abolished the 11 p.m. closing time observed by most pubs since World War One in a bid to tackle the country's binge drinking problem, where people consume large amounts of alcohol in a short space of time.

Proponents of the new laws, that will allow pubs to serve alcohol in some cases up to 24 hours a day, say it will usher in more civilised drinking habits like those of France or Spain.

The race against the 11 p.m. closing bell encourages Britons ...More Info

Malt News
Byelorussia : The malting plant “Belsolod” gets a refusal for the project to build a brewery on its site

The prepared business-project concerning the building of a new brewery with a designed yearly capacity of 4 million Hl of beer on the site of the joint stock company "Belsolod" which is the only producer of the malt in Byelorussia, did not pass the preliminary examination at the concern "Belgospishcheprom". The project was not supported also at the Byelorussian Ministry of Economy. The specialists considered the investments of approximately 25 million EUR as not sustainable.

The management of "Belsolod" made the project considering that the enterprise, having its malt house, "it is simply obliged to produce beer", and this will allow it to get rid of the surpluses of finished
production. However, government experts did not find the arguments of "Belsolod" convincing especially when the debts of the company are of about 40 billion. BYR

The Ivanovskiy malting plant has operated since 1989. In December 1995 it was transformed in the joint stock company "Belsolod". The capacity of the enterprise are of 65 thousand tonnes of malt per year. In the structure of joint-stock capital 57,4% actions belong to state, about 20% - to working collective, the rest - to other physical persons. The staff is of 425 workers.

Barley News
Australia: Pool estimates rise and sliding scale adjusted

ABB Grain Ltd has reviewed its gross barley pool indicators for 2005/2006, increasing its malting and feed barley estimates each by A$5/tonne, announced the company on 22 November 2005.

ABB’s general manager marketing, Nigel Officer, said that currency movements reflecting a lower Australian dollar and renewed demand from China had prompted the adjustments.

“The fact that Chinese demand for barley has started to emerge, and we’ve been able to capitalise on that, has enabled us to raise the pool estimate for malting barley,” Mr Officer said.

“At the same time feed barley markets globally continue to be strong and we have a very good early sales book in place reflecting this market.

“With the good early sales position for feed barley and the currency movement we have been able to increase the feed barley estimate as well as malting barley.

“A further A$5/tonne premium would also apply for Baudin and Sloop malting varieties although this season is the last in which the premium will apply.”

The new pool indicator prices are A$195/t for malting barley and A$160/t for feed barley.

ABB has also narrowed the sliding scale to assist growers who deliver ‘off specification’ malting barley. The scale reflects market value for malting barley based on ...More Info

USA: According to initial contract discussions, malting barley prices would be higher for 2006

The malting barley contract discussions with producers already started with at least one malting firm, Cargill Malt, and one of the messages which come from that first meeting is contract prices may be higher in 2006, according to the report of 23 November from Farm and Ranch Guide.

“We believe our grower contracting program may show producers significantly better prices in 2006 than in 2005,” John Zietz, Cargill Malt's barley supply chain manager said. “We think farmers might find barley significantly more attractive in 2006 relative to the prices of other grains. Plus fertilizer and other input costs are lower for malting barley than for other crops.

“I can't answer for the other maltsters, but we currently expect our prices to be higher, no doubt,” he continued. “Prices were definitely lower last year than they had been the previous couple of years. We came out of 2002, when the production wasn't real good, so the prices were significantly higher in 2003. Then in 2004 they drifted a little bit lower and in 2005 they drifted a little bit lower again. Now this year we are rolling out prices that probably won't be as high as they were in 2003, but they ...More Info

Hops News
New Zealand: Appointment of new CEO for New Zealand Hops Ltd

The Directors of New Zealand Hops Ltd announced on November 18 the appointment of Mr Douglas Donelan as Chief Executive Officer, with specific focus on sales and marketing, for the New Zealand Hop Group. Doug, who is currently Head Brewer for Lion Nathan’s Sydney based Malt Shovel brewery, has wide ranging general management experience gained from current and previous roles in both operations and technical functions. As CEO Doug will be responsible for running all aspects of New Zealand Hops Ltd, together with existing staff, and for continuing promotion and sales of New Zealand hops and hop products on a worldwide scale.

Doug ‘s passion for hops is well known and is no stranger to New Zealand brewing, having held the position of Chief Judge at the New Zealand International Beer Awards for a number of years.

Doug succeeds Tom Inglis as the marketer for New Zealand hops and hop products. Tom is enjoying his retirement after more than 20 years working tirelessly promoting New Zealand’s unique hops, and we are confident that Doug will be just as successful in his achievements.

Doug will make the move from Australia to New Zealand towards the end of this year, and will take on ...More Info


Malting barley prices. French barley prices.
Nominal prices.

EURO = USD 1.1789 November 25, 2005 
 Crop year   2005 
 Parity   FOB Creil 
 Position   July 2005 
Type   Variety  EURO  USD 
2RS  Scarlett  119.50  141.00 
2RS  Prestige  118.50  140.00 
2RS  Cellar  118.00  139.50 
2RS  Aspen  nq  nq 
2RS  Optic  nq  nq 
2RS  Sebastien  117.00  138.00 
2RS  Astoria  117.00  138.00 
2RS  Cork   116.50  137.50 
6RW  Esterel   105.00  124.00 
Table of the week

USA Barley Supply and Distribution

 MY June/May, TY Oct/Sept

 1999/00 2000/01 2001/02 2002/03 2003/04 2004/05 2005/06*f
 Area harvested,
thousand ha 		 1,851  2,104  1,729  1,669  1,913  1,627  1,326 
 Yield, t/ha 3.2  3.3  3.1  3.0  3.2  3.7  3.5 
 Production
thousand metric t		 5,922  6,919  5,407  4,940  6,059  6,091  4,620 
 Imports / Mkt Year,
thousand metric t		 602  636  521  402  449  264  327 
 Imports / Trade Year
thousand metric t		 644  663  538  282  497  175  350 
 Exports / Mkt Year
thousand metric t 		 613  1,258  575  659  409  506  544 
 Exports / Trade Year
thousand metric t		 853  1,068  517  552  384  750  300 
 Feed Cons.
thousand metric t		 2,827  2,951  2,272  1,819  1,577  2,515  1,742 
 Total Cons.
thousand metric t 		 6,571  6,407  5,661  5,179  4,990  5,672  4,791 
 Ending Stocks
thousand metric t		 2,424  2,314  2,006  1,510  2,619  2,796  2,408 

Source: USDA, *f - forecast

Graph of the week


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
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