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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
More news
Scientific Digest
Theoretical malt prices
Malting barley prices
Table of the week
Graph of the week
On These Days
Agenda
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Average market prices
Change trend

11 Sept - 13 Sept 2006
Crop 2006
2rs Barley €X  X
6rw Barley €X  X
2rs Malt €X  X
6rw Malt €X  X
Crop 2007
2rs Barley €133.0-135.0    
6rw Barley €112.0-114.0    
2rs Malt €279.0-281.0    
6rw Malt €252.5-254.5    

Note: X - Due to an extremely unstable market we can't give any realistic quotation.

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 36b, 2006

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Newsletter 36a, 2006

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Newsletter 35b, 2006

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Newsletter 35a, 2006

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Newsletter 34b, 2006



Market price evolutions

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Per Capita Beer Consumption in 2 largest beer markets in North America (1999, 2005)

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Vietnam Beer Production

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EU Malt Export Licence Fixations

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World Beer Production (1991 - 2005)

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Australia Barley Production and Malting Barley Exports



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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 37a
September 11 - September 13, 2006

Quote of the week

"A fine beer may be judged with only one sip, but it's better to be thoroughly sure."
Czech Proverb


Currency Rates
Base Currency: Euro, EUR
on 13-September-2006

1 EUR = 1.2706 USD
1 EUR = 0.6794 GBP
1 EUR = 1.4231 CAD
1 EUR = 1.6902 AUD
1 EUR = 149.512 JPY
1 EUR = 2.7687 BRL
1 EUR = 34.0439 RUB
1 EUR = 10.1107 CNY
Base Currency: US Dollar
on 13-September-2006

1 USD = 0.7871 EUR
1 USD = 0.5347 GBP
1 USD = 1.12 CAD
1 USD = 1.3301 AUD
1 USD = 117.68 JPY
1 USD = 2.1791 BRL
1 USD = 26.7942 RUB
1 USD = 7.9576 CNY

EUR/USD Chart

Equities of the Largest Breweries

Top Industry News
Netherlands: Grolsch NV posted a 12% slide in net profits for 1H 2006... Click here

India & Vietnam: Foster's completes sale of breweries in India and Vietnam... Click here

Canada: Brick Brewing Co. Ltd. reported net revenue up 39% in 2Q 2006... Click here

Lithuania: Beer exports contracted to 9,140 hl in January-August 2006... Click here

Japan: Beer exports down by 0.8% in August 2006... Click here

Czech Republic: Pivovary Staropramen raised sales by 5 percent in 1H 2006... Click here

EU: Malting capacities of several hundred thousand tons shut down across Europe... Click here

Ukraine: Barley crop essentially increased... Click here

Sweden: 2006 malting barley exports forecasted at zero... Click here

Australia: Barley crop estimates downgraded again to 5.0 – 7.0 million t... Click here

More News
China: Yanjing Brewery Co. denies takeover by world beer leader InBev ... More Info

EU: 219,000 t of barley intervention stocks were sold at competitive prices ... More Info

Denmark: Strike ends at Carlsberg’s brewery in Fredericia ... More Info

USA: Castle Harlan Inc. acquired ConAgra Malt Division ... More Info

India: Karnal institute developed two new high-yielding and disease-resistant two-row barley varieties ... More Info

Russia: Baltika to extend the capacity of the brewery in Samara to 6.5 million hl ... More Info

EU: The harvest season is still in progress, poor barley quality reported ... More Info

China: Foreign equity in the beer industry rose to over 18% ... More Info

China: Tsingtao Brewery Co. Ltd. announced state share reform plan ... More Info

Russia: Barley production forecasts were lowered by 2.8% to 17.5 million t ... More Info

UK: 84 new breweries started brewing ales in the past year ... More Info

World: Malting barley production down 10% in 2005/06 crop year ... More Info

Belgium: InBev’s ‘hold’ rating maintained, target price raised to €40.50 ... More Info

USA: City Brewing Co. to unlock more capacity at Latrobe Brewing Co. ... More Info

Japan: Sapporo Breweries and Sapporo Beverages demonstrate Sapporo drinks alleviate hay fever symptoms ... More Info

Ukraine: Barley offers increased to huge levels ... More Info

USA: Diageo appoints Jim Young as president of Diageo-Guinness USA (DGUSA) ... More Info

Uganda: Nile Breweries awarded twice at the International Monde Selection ... More Info

Africa: Tanzania Breweries’ Arusha plant was distinguished Brewer of the Year among South African Breweries group in Africa and Asia ... More Info

USA: Mountaineer Brewing Co. to establish new micro-brewery in West Virginia ... More Info

South Korea: Oriental Brewery Co. will replace 1.6 liter pack with 1.8 liter version keeping the same price ... More Info

Estonia: Saku Olletehase AS appointed new Chairman of the company’s Management Board ... More Info

China: Warning labels to be put on beer bottles ... More Info



Brewery News
Netherlands: Grolsch NV posted a 12% slide in net profits for 1H 2006

Grolsch NV posted a 12% decline in first-half net profit to €6.5 million ($8.27 million), just missing analyst forecasts, after loss of volume in its key home market where it generates two-thirds of sales Reuters communicated September 12.

However, the brewer said that adjusted for special items its net profit had improved from 2005 and sales rose more than 3 percent to €152.2 million.

It has consciously chosen to scale-down price initiatives in the competitive Dutch market to focus on improving margins and retaining its status as a classy premium brand.

Analysts at Rabo Securities said the results disappointed: "Nevertheless we remain positive about the prospects for Grolsch as the long term distribution deal with Anheuser Busch triggers fantasy on future volumes and profits as well as the ownership of the company," they wrote in a note.

Grolsch Chief Executive Ab Pasman declined to comment on the chance of a take-over.

Sales of the beer, known for its characteristic flip-top bottles, in Canada, France, Australia and New Zealand posted double-digit growth, and Grolsch said it expected 2006 net profit to equal that of last year. Pasman said Grolsch, which has roots dating back to 1615, and is still largely family-controlled, differed from the ...
More Info


India & Vietnam: Foster's completes sale of breweries in India and Vietnam

On 4 August 2006, Foster's Group Limited announced the sale of its business in Vietnam to Asia Pacific Breweries for US$105 million, and its business and the Foster's brand in India to SABMiller plc for US$120 million, conditional only on FIRB approval.

FIRB approval has been obtained and the sales were completed September 12. An additional amount of US$7 million was received for cash and working capital on completion, the company released September 13.

SABMiller is the second largest brewer in India. The brewery announced September 12 that it will extend Foster’s Lager through its national network of breweries and seek significant cost benefits from brewing and distributing the brand locally. The existing brewery in Maharashtra will provide additional capacity in the state as well as a platform for access to Mumbai.

Andre Parker, Managing Director of SABMiller Africa and Asia, commented: "We will look to continue the success of Foster’s in India and drive growth in the premium segment in this exciting market. SABMiller India’s extensive footprint throughout the country, along with its spectrum of strong local and international brands, provides a compelling growth proposition as the Indian beer market develops." ...
More Info


Canada: Brick Brewing Co. Ltd. reported net revenue up 39% in 2Q 2006

Brick Brewing Co. Limited released September 12 its second quarter financial results for the quarter ended July 31, 2006.

"In this quarter we continued to see strong demand for our brands with overall volumes up 35%," said Jim Brickman, Executive Chairman and Founder.

"We are also encouraged by the early consumer feedback received on our new J.R. Brickman Founder's Series of premium craft brewed beers launched late in the second quarter. We expect these beers will bring renewed enthusiasm for our premium portfolio of brands," Brickman added.

"I am very pleased we were able to achieve record quarterly financial performance despite the new Kitchener facility incurring temporarily higher operating costs and overheads than our recent historical performance," Doug Berchtold, President and CEO said. "We have made significant improvement there since Q1 and we will continue our focus on improving operating costs at Kitchener in future quarters in an effort to ensure continuing profit momentum at Brick," he added.

Second Quarter Financial Highlights

Net revenue for the second quarter increased to $11.4 million compared to $8.2 million for the same period last year, an increase of 39%. Beer output increased by 35% against the second quarter of 2005. Gross revenues increased 33% (figures in CA$ unless ...
More Info


Lithuania: Beer exports contracted to 9,140 hl in January-August 2006

Lithuanian breweries exported 9,140 hl of beer in the first 8 months of 2006, down by 12.4 pct year-on-year, Baltic Business News released September 08.

The Association of Breweries said the Kalnapilio-Tauro Grupë was the leading exporter during the period, selling 39,000 hl of beer abroad.

Siauliai-based Gubernija brewer took the second position with 32,500 hl beer exports over the January-August period, as compared with 25,100 hl in the same period of 2005.

Last year’s exports leader, Svyturys-Utenos Alus reduced exports by a factor of 2.4 karto – from 45,800 hl in the first 8 months of 2005 to 18,800 hl in the 8-month period of 2006.

The association also said that Kaunas’ Ragutis exported 300 hl in the first 8 months of this year, as compared with 3,200 hl in 2005, while respective figures of Rinkuskiai were 800 hl and 300 hl of beer.


Japan: Beer exports down by 0.8% in August 2006

Aggregated exports of beer, low-malt happoshu and beer-like alcoholic beverages (third-beer) stopped falling and even saw a small increase of 0.6% in August 2006, mostly on the back of hot weather which prevailed during the last month of the summer, a report cited September 12 a survey of Japan’s five main brewers, Kirin, Suntory, Asahi, Sapporo and Orion.

Beer shipments decreased by 0.8%, while Happoshu exports fell steadily by 3.8% year-on-year. The general increase was driven by a 12% boost in exports of beer-like alcoholic beverages.


Czech Republic: Pivovary Staropramen raised sales by 5 percent in 1H 2006

Czech brewer Pivovary Staropramen said it sold 1.45 million hl of beer in the first half of this year, a growth of 5.3 percent on the year, CTK released September 11.

Volume of beer sold on the Czech market rose by 5.2 percent to 1.16 million hectolitres, while exports added 5.7 percent to 284,000 hl, the company said.

Output of Staropramen beer produced abroad under a licence grew by nearly a half year-on-year to 283,000 hl. The amount is included in sales of Staropramen's parent company Inbev.

"First-half results were good thanks to very warm weather in the first half of summer and a well-chosen business strategy," said Petr Kovarik from the company.

Sales on the Czech market more than doubled in the period compared with the situation in the segment, Kovarik said.

Sales of the Staropramen bottled beer grew by 20 percent year-on-year thanks to a new graphic design of the Staropramen brand introduced in February this year.

Sales of the Stella Artois lager rose by more than a half on the year. Sales of the Branik and Ostravar brands also grew.

Staropramen's key export markets are Slovakia, Sweden, Germany and Great Britain.

Exports to Sweden went up by 27 percent in the first half, while in ...
More Info

Malt News
EU: Malting capacities of several hundred thousand tons shut down across Europe

A year ago the EU malt industry was confronted with an overcapacity of more than 1 million t of malt. Sooner than expected U.K., German and French maltsters shut down several hundred thousand tons of capacities permanently, further closures in Ireland, Spain, Romania and Slovakia went almost unnoticed, analysts released September 01.

During winter of 2005/06 German and U.K. maltsters produced less malt than their capacities. The insolvency of Alba Domu and Weissheimer reduced production in Hungary and Germany by 100,000 tons each. All this and this past summer's beer boom created a tight malt market for the first time in years. It allowed maltsters to sell malt on basis of correct calculations.

Barley News
Ukraine: Barley crop essentially increased

According to the official statistics, as of September, 1, 2006, Ukrainian farmers harvested 11.75 mln tonnes of barley, up 25.6% from the previous year, AgriMarket.Info cited State Statistics Committee of Ukraine.

This crop was milled from 5.13 mln ha area (against 4.29 mln ha in 2005). The average yield totals 2.29 tonnes per hectare, up 0.11 tonnes per hectare as compared to the index of 2005.

Gross barley harvest increased owing to spring sorts. Thus, harvest of spring barley increased by 29% in comparison with 2005, to 10.72 mln tonnes (yield is up 0.1 tonnes per hectare to 2.27 tonnes per hectare). At the same time winter barley harvest decreased by 2.3 % to 1.02 mln tonnes (average yield increased by 0.22 tonnes per hectare to 2.45 tonnes per hectare).

According to the data of State Statistics Committee, Ukrainian agrarians harvested 8.98 mln tonnes of barley (spring and winter) in clean weight.


Sweden: 2006 malting barley exports forecasted at zero

According to H. Abildstrøm & Co. ApS report of September 10, one can exclude Sweden as malting barley exporter this year. Poor harvesting conditions in the south after drought damage has wiped out the malting barley surplus which would normally be exported and merchants will be struggling to cover domestic demand.

Nominal prices for January in Denmark and Sweden are now between €/ton 166 and 170.


Australia: Barley crop estimates downgraded again to 5.0 – 7.0 million t

There is too little precipitation and temperatures are too warm for the time of the year. Barley crop estimates have been reduced again, they range now between 5.0 and 7.0 million t, experts argued September 01. Unless rains arrive soon, it will be too late for a recovery of crops.

Markets have reacted in a strong way. Local feed barley markets paid the equivalent of US$/t 190.- FOB Victorian port. Reportedly large quantities of malting barley sold at a level of US$/t 200.- CIF China not very long ago, but now quotes are above US$/t 200.- FOB and 240.- CIF China. The Boards will reserve old crop barley for their own malthouses for the case of a crop calamity.

Scientific Digest
Rapid and Sensitive Method to Measure Premature Yeast Flocculation Activity in Malt
H. Koizumi and T. Ogawa, Central Laboratories for Frontier Technology, Kirin Brewery Co., Ltd. 1-13-5, Fukuura Kanazawa-ku Yokohama-shi Kanagawa 236-0004, Japan

ABSTRACT
J. Am. Soc. Brew. Chem. 63(4):147-150, 2005
We have developed a rapid, sensitive, and reproducible method to mea-sure the premature yeast flocculation (PYF) activity level in malt without the need for mashing or fermentation. The analysis time was only 3 hr, and the PYF activity level measured by this method correlated well with that measured using a fermentation test. Furthermore, the PYF activity level in barley or green malt could be measured by this method. This method provides a highly efficient tool to test the fermentability of barley, malt, and wort. Keywords: Barley, Fermentability
... Load full article, 4 pages, 478 Kb, *.pdf file


Malting barley prices. French barley prices.
Nominal prices.

EURO = USD 1.2706 September 13, 2006 
 Crop year   2006   2007 
 Parity   FOB Creil   FOB Creil 
 Position   July 2006   July 2007 
Type   Variety  EURO  USD  EURO  USD 
2RS  Scarlett  136.00  173.00 
2RS  Prestige  135.00  171.50 
2RS  Cellar  134.00  170.50 
2RS  Sebastien  133.00  169.00 
2RS  Astoria  133.00  169.00 
2RS  Cork   132.00  168.00 
6RW  Esterel   113.00  143.50 

X - Due to an extremely unstable market we can't give any realistic quotation.

Prices for Danish malting barley are available on site www.e-malt.com/MarketPrices

Theoretical malt prices.
  EURO = USD 1.2706 September 13, 2006 
Crop year  2006 
Parity  FOB Antwerp 
Position  Sept 2006-Sept 2007 
Conditioning  Bulk   In bags  Bulk containers Bags, containers
Malting barley variety  EURO  USD  EURO  USD  EURO  USD  EURO  USD 
2RS  Scarlett 
2RS  Prestige 
2RS  Cellar 
2RS  Sebastien 
2RS  Astoria 
2RS  Cork  
2RS   Average price 
6RW  Esterel  
Asia Malt 70/30 
**  Asia Malt 50/50 

X - Due to an extremely unstable market we can't give any realistic quotation.
* - 70/30 = 70% Average two Rows Spring and 30% Six Rows Winter
** - 50/50 = 50% Average two Rows Spring and 50% Six Rows Winter

Theoretical malt prices for crop 2006 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 2005-2006 Jul 01, 2006 -
Aug 29, 2006  
 France   701,134  661,772  774,761  674,140  648,338  106,650 
 Germany   468,314  408,063  422,047  295,876  236,735  28,981 
 Belgium   296,368  287,850  317,292  418,344  551,396  86,802 
 U.K. 350,621  294,995  443,501  201,892  190,862  18,102 
 Finland   91,890  100,758  114,165  64,986  79,357  12,292 
 Denmark    96,812  94,791  90,452  74,743  68,809  7,600 
 Sweden   101,000  76,916  78,369  88,840  96,100  28,650 
 Netherlands   51,310  66,219  80,703  49,128  92,383  9,538 
 Ireland   35,145  31,140  38,900  56,924  7,001 
 Austria   8,840  8,620  60,211  16,954  38,932  8,693 
 Spain   2,400  5,640  10,000 
 Greece   1,744  1,306  979  130 
 Portugal   221  85  695  850  1,088 
 Italy  
 Czech Republic       34,340  82,062  77,036  7,687 
 Poland       7,604  32,084  167 
 Hungary       2,830  85,792  16,865  763 
 Slovakia       1,000  76,916  75,863  6,544 
 Latvia      54 
 Total EU   2,205,799  2,038,157  2,477,849  2,219,661  2,180,986  322,302 

  Total Wheat malt, tonnes  
Total 2001 - 2002    12,805 
Total 2002 - 2003    30,908 
Total 2003 - 2004    15,768 
Total 2004 - 2005    8,162 
Total 2005 - 2006   4,693 
July 01, 2006 - August 29, 2006   728 
   
  Total Roasted malt, tonnes  
Total 2001 - 2002    23,480 
Total 2002 - 2003    23,603 
Total 2003 - 2004    24,438 
Total 2004 - 2005    27,212 
Total 2005 - 2006   23,257 
July 01, 2005 - August 29, 2006   3,339 
Newsletter SummaryTop
Graph of the week


These Days in Business History
September 11
1910 1st commercially successful electric bus line opens (Hollywood)
1946 1st mobile long-distance car-to-car telephone conversation
2001 terrorist attack on America at the World Trade Center Towers in New York City and The Pentagon in Washington kill nearely 3000 people.

September 12
1624 1st submarine tested (London)
1910 World's 1st female cop, Alice Stebbins Wells, appointed (LAPD)
1970 1st Concorde lands at Heathrow airport

September 13
1898 Hannibal Goodwin patents celluloid photographic film
1905 1st airplane flight in Europe
1970 IBM announces System 370 computer
Agenda


September 2006:
8th BELGIAN BEER WEEKEND The Belgian Brewers’ association
World of Food China - 2006
Beverages - 2006,Belgorod, Russia.Specialized exhibition.
CHINA BREW & BEVERAGE International Brew and Beverage Processing Technology and Equipment
International Brewery and Soft Drinks Industry Exhibition
Riga Food 2006.
The Great Canadian Beer Festival
2nd Bruxellensis Festival
Jean De Clerck Chair XII: Flavours in Beer , a post academic training
Fine Food Australia. Australia's largest exhibition for the food and beverage industry...
TecnoBebida Latin America International Exhibition of Technologies for the Beverage Industry
EXPO Food & Drinks - 2006, Armenia. The 4th Interhational specialized exhibition.
AtyrauFood - 2006, Kazakhstan.5-th North-Caspian Regional Exhibition
Munich Oktoberfest.The world's biggest beer festival.
World Grains Summit: Foods and Beverages San Francisco, California U.S.A.
International Beer Competition 2006 Japan.
FoodWeek Uzbekistan - 2006.11th Annual International Exhibition of Food and Drinks.
Northern Crops Institute Course 2006 Grain Procurement Management for Importers
World Food Moscow - 2006.The 15th International exhibition "All world of food".
The 15 AllUkrainiane forum of food-processing industry - 2006.
Great American Beer Festival® September 28 - 30, 2006.
Farmer of Kazakhstan - 2006.The 4th Kazakhstan international exhibition.


October 2006:
International Beer Summit 2006, Japan.
World Beer Festival, USA
Food And Beverages, Novi Sad Fair, Serbia & Montenegro.
MBAA Brewing and Malting Science Course
Lighthouse International Beer Festival, USA.
Belgian Beer Festival. website:www.beerfestival.be
Belgian Beer Fest - Sunday Brunch, USA.
World Food Ukraine / Ingredients Ukraine International Food and Drinks Exhibition


November 2006:
Balkan Food & Drinks 2006, Bulgaria.
World Food Kazakhstan - 2006
Food & Drinks 2006, Georgia.
EBC SYMPOSIUM ON DRINKABILITY, UK.
InterDrink - 2006, Moscow
PeterFOOD - 2006, Saint-Petersburg
Americas Food & Beverage Show
IHGC meetings Germany
Interfood & Drink, Bulgaria
BRAU Beviale European Trade Fair for the Beverage Industry
Interfood Georgia - 2006
Foodapest - 2006, Budapest
International Forum 'Drinks Industry'
InterFood Tajikistan - 2006




More events are available on site e-malt.com
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