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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
Malting barley prices
Theoretical malt prices
Prices Evolution
Table of the week
Graph of the week
On These Days
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Average market prices
Change trend

September 26, 2007
Crop 2007
2rs Barley €324.0-326.0 0.62%
6rw Barley €294.0-296.0 0.34%
2rs Malt €562.0-564.0 0.45%
6rw Malt €524.5-526.5 0.29%
Crop 2008
2rs Barley €289.0-291.0 4.32%
6rw Barley €256.0-258.0 3.63%
2rs Malt €516.0-518.0 2.89%
6rw Malt €474.5-476.5 2.37%

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.
Average malt market prices are estimated on FOB Antwerp basis.
The changes are compared to last Newsletter's prices.
Arrows indicate the direction of the change.

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Market price evolutions

The evolution of market prices for barley and malt, which are periodicaly 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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Malt Market Price Evolution, Crop 2006

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Canada Average Barley Prices (1983-2008f)

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Canada Average Barley Prices 1983-2005

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Canadian Malting Barley Prices vs. Danish 2Row

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Australia Malting Barley Export Prices 2000-2005

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Malt Market Price Evolution. Crop 2005

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French Malting Barley Price Evolution. Crop 2005

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Malt Market Price Evolution. Crop 2004

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French Malting Barley Price Evolution. Crop 2004

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Malt Market Price Evolution. Crop 2003

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French Malting Barley Price Evolution. Crop 2003

E-malt.com graphs

All graphs issued with e-malt.com newsletters are published in "Graph" section of e-malt.com site.
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Africa Beer Production

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Chinese Barley Consumption, Production and Imports 1997/98-2007/08f

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Philippine Beer production (1991 - 2006)

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UK Barley Exports by Seasons

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Mexico Beer Production

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

We have the pleasure to let you know that 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 Statisctis section.

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European Barley Production (2006 - 2007)

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Eu Malting Barley Supply And Demand Estimate 2007/2008

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EU Malt Export Licence Fixations as of August 28, 2007

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Black Sea: Barley Production Forecast

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Barley Market Projections for the EU, 2003-2014


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E-malt.com Flash 39a
September 24 - September 26, 2007

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Currency Rates
Base Currency: Euro, EUR
on 26-September-2007

1 EUR = 1.4099 USD
1 EUR = 0.6995 GBP
1 EUR = 1.4142 CAD
1 EUR = 1.6272 AUD
1 EUR = 161.608 JPY
1 EUR = 2.6381 BRL
1 EUR = 35.2574 RUB
1 EUR = 10.6068 CNY
Base Currency: US Dollar
on 26-September-2007

1 USD = 0.7093 EUR
1 USD = 0.4961 GBP
1 USD = 1.0031 CAD
1 USD = 1.1542 AUD
1 USD = 114.638 JPY
1 USD = 1.8712 BRL
1 USD = 25.0078 RUB
1 USD = 7.5233 CNY


Equities of the Largest Breweries

Top Industry News
UK: SABMiller's beer volumes up 11% in 5-months to the end of August 2007... Click here

USA: Anheuser-Busch flat despite brewers' frothy rise... Click here

Australia: Workers to strike at Fosters brewery... Click here

Colombia: SABMiller offers to buy remaining 1.35% of Colombia's Bavaria... Click here

India: Carlsberg is open to acquisitions in Asia... Click here

Switzerland: Beer prices to increase 4-8% from January 2008... Click here

USA: Coors Light to become the official beer of NASCAR, replacing Budweiser... Click here

UK: Greencore says adjusted earnings per share to exceed expectations... Click here

Australia & Saudi Arabia: Australia and Saudi Arabia sign 5 year barley agreement... Click here

Russia: Russia to limit barley exports beginning November 2007... Click here

More News
USA: Heineken appoints new President and CEO ... More Info

Australia: Foster's amends Dividend Reinvestment Plan ... More Info

USA: Iron City Brewing Company invests $4.1 million in modernization ... More Info

Ukraine: Interest in feed barley increases, offer remains small ... More Info

Belgium: Brussels shares close higher; InBev leads gainers ... More Info

USA: Koehler Brewery pays overdue property taxes ... More Info

South Africa: South Africa strategy rewards Namibian Breweries ... More Info

Australia: Foster's announces Board Changes ... More Info

Switzerland: Taiwan beer popular within WTO diplomatic circle in Geneva ... More Info

UK: Scottish & Newcastle boss is believed to be planning to step down ... More Info

Czech Republic: 10,000 visitors at Staropramen SmíchOff Summer festival ... More Info

Brewery News

0 UK: SABMiller's beer volumes up 11% in 5-months to the end of August 2007

As a group, SABMiller has continued its strong start to the year, with organic growth in lager volumes of over 11% for the five months to the end of August 2007, driven by Africa & Asia, Latin America and Central and Eastern Europe, according to company’s press release, September 24.

In North America, Miller’s domestic sales to retailers (STRs) have increased by 1.3% on an organic basis after an adjustment for one less trading day in the five month period, with Miller Lite STRs up by 1.7%. Miller’s strategy to grow Miller Lite in the mainstream light category and to migrate its brand portfolio to higher margin segments has contributed to an increase of 4.0% in domestic net revenue per barrel. Miller Chill, the company’s new ‘chelada style’ light beer, sold almost 300,000 barrels in the period and is well on its way to exceeding its target of 400,000 barrels for the year, whilst volumes of the group’s international worthmore brand Peroni Nastro Azzurro, and craft beer Leinenkugel’s, are up by strong double digit percentages. As a result of this volume performance, the improving sales mix and further cost efficiencies, Miller expects to see margin improvement significantly ...
More Info

2 USA: Anheuser-Busch flat despite brewers' frothy rise

Anheuser shares, just above a 5-year low, have gained 6 percent over the last year, underperforming competitors and leading some industry observers to expect ...
More Info

0 Australia: Workers to strike at Fosters brewery

Workers at a Foster's brewery in Queensland are preparing to walk off the job following a dispute with management, Australian press announced September 26.

About 200 employees will meet tomorrow evening to discuss when to hold a strike at the company's Yatala brewery, south of Brisbane, after voting in an Australian Electoral Commission poll to take industrial action.

The strike will involve three unions - the Liquor, Hospitality and Miscellaneous Union (LHMU), the Australian Manufacturing Workers' Union (AMWU) and the Electrical Trades Union (ETU).

LHMU Queensland secretary Ron Monaghan said the employees were disputing a move by management to negotiate a new workplace agreement without union involvement.

"The vast majority of Yatala brewery employees want their wages and conditions set by a union collective agreement," he said.

"That's the choice they've made, yet Foster's is ignoring that choice."

The members will decide whether to hold a four-hour, six-hour or eight-hour work stoppage.

A Foster's spokeswoman said the work stoppages would not have a significant impact on beer production at the brewery.

"We are prepared for the possibility of protected action and have contingency plans if there needs to be some minor rescheduling to take into account four-hour stoppages," she said.

"No one's going ...
More Info

2 Colombia: SABMiller offers to buy remaining 1.35% of Colombia's Bavaria

London-based beer maker SABMiller PLC has offered to buy the 1.35% of the shares it doesn't own in Colombia's largest brewery Bavaria SA, a ...
More Info

0 India: Carlsberg is open to acquisitions in Asia

Danish brewer Carlsberg launched its beer brand in the Indian capital and said it was open to acquisitions and joint ventures for sales growth in Asia, according to Reuters, September 22.

"Yes, we are going to grow in Asia organically and by acquiring," said Jorn Jensen, the firm's chief financial officer.

"We are constantly looking at our options for acquisitions, joint ventures," he said, replying to a query on growth plans in the region.

An Indian newspaper reported this month that Carlsberg's South Asia Breweries unit would buy a stake in Kolkata-based Parag Breweries as well as its holding entity, Agnes Impex, and the two would subsequently be merged.

Carlsberg officials declined to confirm the report.

"We will, towards the end of the year, start expanding to key metros in the country," said Joakim Sande, marketing director of South Asia Breweries.

Carlsberg has started operations with a brewery in Himachal Pradesh, which has an annual capacity of 150,000 hectolitres.

By early next year, it plans to start two more greenfield units, one located in Rajasthan and another in Maharashtra, each with 500,000 hectolitres annual capacity.

Carlsberg said it expected annual beer consumption in India to grow by more than 140 percent by 2010.

It said the per capita ...
More Info

2 Switzerland: Beer prices to increase 4-8% from January 2008

Feldschloesschen group announced an increase of 4-6% in the beer prices, depending on the type of beer, Tsrinfo reported September 25.

Its competitor, Heineken, has ...
More Info

0 USA: Coors Light to become the official beer of NASCAR, replacing Budweiser

Coors Light will announce a $20 million deal over five years to become the official beer of NASCAR starting in January, USA Today reported September 26.

Coors replaces Anheuser-Busch as the official sponsor. The new deal includes renaming the pole award to the Coors Light Pole Award from the Bud Pole Award.

For Coors, the NASCAR deal also replaces its sponsorship of the No. 40 Dodge in the Nextel Cup Series.

"Our deal was up with those guys, and this opportunity came up," says Andy England, chief marketer for Coors. "It feels like we are elevating our game."

For consumer product marketers, a league deal opens up greater opportunity for strong retail display — especially in and around cities when races occur.

"We'll follow the tour," England says. "This gives us great exposure in the 50 miles around the track. It means no matter who wins on the track, we win every week in stores."

Budweiser has been the official beer of NASCAR since 1998. It also has sponsored Dale Earnhardt Jr.'s No. 8 since he entered the Cup series in 1999.

The beer will remain in the top series next year as the sponsor of Kasey Kahne's No. 9 Dodge.

NASCAR still is looking for a title ...
More Info

Malt News

2 UK: Greencore says adjusted earnings per share to exceed expectations

Convenience food and malt producer Greencore said it anticipated that adjusted earnings per share for financial year will exceed the current market consensus level ...
More Info

Barley News

0 Australia & Saudi Arabia: Australia and Saudi Arabia sign 5 year barley agreement

A new five-year agreement with Saudi Arabia's United Feed Company (UFC) will see the Australian Barley Board (ABB) continue to provide Australian grain to one of the world's largest feed barley markets, LexisNexis reported September 20. The memorandum of understanding struck between ABB and the UFC in June, extends the long-standing supply arrangement that began almost 10 years ago.

Valued at $1 billion, ABB chairman Perry Gunner said the landmark agreement demonstrated ABB's continued progress at an international level.

"This agreement provides a solid, long-term support base for Australian barley, which is highly regarded by customers in the Middle East," he said.

"It's a significant coup for Australian barley growers and for ABB, showing long-term support for Australian-grown grain.

"It's also testimony to the value of developing close, trusting relationships with international customers and their confidence in our ability to supply very large volumes of grain."

The cooperation between ABB and UFC began in 1998. In the years since, ABB has supplied more than eight million tonnes of barley to UFC and up to two million tonnes of grain a year. "This new agreement is a great reflection on the relationship that has been built up over the years between the two companies." Mr. ...
More Info

0 Russia: Russia to limit barley exports beginning November 2007

Grain interventions on the barley market will begin in November with the export duty standing at about 30% and at a price of 70 euro a tonne, acting Agriculture Minister Alexei Gordeyev said at a press conference in Ufa, according to Interfax News Agency, September 21.

He said harvesting in Russia continues and 77 million tonnes of grain have been collected from 80% of fields. "The country will have enough grain for all purposes and the amount that could be exported will be around 10-12 million tonnes," he said.

Scientific Digest
Interactions between barley .ALPHA.-amylases, substrates, inhibitors and regulatory proteins

SVENSSON BIRTE(Technical Univ. Denmark, Kgs. Lyngby, Dnk) BOZONNET SOPHIE(Technical Univ. Denmark, Kgs. Lyngby, Dnk) BOZONNET SOPHIE(Carlsberg Lab., Copenhagen Valby, Dnk) WILLEMOEES MARTIN(Technical Univ. Denmark, Kgs. Lyngby, Dnk) WILLEMOEES MARTIN(Carlsberg Lab., Copenhagen Valby, Dnk) HACHEM MAHER ABOU(Technical Univ. Denmark, Kgs. Lyngby, Dnk) FUKUDA KENJI(Technical Univ. Denmark, Kgs. Lyngby, Dnk) FUKUDA KENJI(Carlsberg Lab., Copenhagen Valby, Dnk) KRAMHOFT BIRTE(Technical Univ. Denmark, Kgs. Lyngby, Dnk) KRAMHOFT BIRTE(Carlsberg Lab., Copenhagen Valby, Dnk) MAEDA KENJI(Technical Univ. Denmark, Kgs. Lyngby, Dnk) MAEDA KENJI(Carlsberg Lab., Copenhagen Valby, Dnk) HAEGGLUND PER(Technical Univ. Denmark, Kgs. Lyngby, Dnk) FINNIE CHRISTINE(Technical Univ. Denmark, Kgs. Lyngby, Dnk) BONSAGER BIRGIT C.(Technical Univ. Denmark, Kgs. Lyngby, Dnk) BONSAGER BIRGIT C.(Carlsberg Lab., Copenhagen Valby, Dnk) MORI HARUHIDE(Carlsberg Lab., Copenhagen Valby, Dnk) MORI HARUHIDE(Hokkaido Univ., Sapporo) SIGURSKJOLD BENT W.(Univ. Copenhagen, Dnk) ROBERT XAVIER(Ibcp, Lyon, Fra) JENSEN MALENE H.(Ibcp, Lyon, Fra) TRANIER SAMUEL(Ibcp, Lyon, Fra) AGHAJARI NUSHIN(Ibcp, Lyon, Fra) HASER RICHARD(Ibcp, Lyon, Fra) Journal Title;J Appl Glycosci

Barley .ALPHA.-amylase binds sugars at two sites on the enzyme surface in addition to the active site. Crystallography and site-directed mutagenesis highlight the importance of aromatic residues at these surface sites as demonstrated by Kd values determined for .BETA.-cyclodextrin by surface plasmon resonance and for starch granules by adsorption analysis. Activity towards amylopectin and amylose follows two different kinetic models, degradation of amylopectin being composed of a fast and a slow component, perhaps reflecting attack on A and B chains, respectively, whereas amylose hydrolysis follows a simple Michaelian kinetics. .BETA.-cyclodextrin binding at surface sites inhibits only the fast reaction in amylopectin degradation. Site-directed mutagenesis and activity analysis, furthermore show that one of the surface binding sites as well as individual subsites in the active site cleft have distinct roles in the multiple attack on amylose. Although the two isozymes AMY1 and AMY2 share ligands for three structural calcium ions, they differ importantly in the effect of calcium on activity and stability, AMY1 having the higher affinity and the lower stability. The role of the individual calcium ions is studied by mutagenesis, crystallography and microcalorimetry. Further improvement of recombinant AMY2 production allows future direct mutational analysis in this isozyme. Specific proteinaceous inhibitors act on .ALPHA.-amylases of different origin. In the complex of barley .ALPHA.-amylase/subtilisin inhibitor (BASI) with AMY2, a fully hydrated calcium ion at the protein interface mediates contact between inhibitor residues and the enzyme catalytic groups in a manner that depends on calcium and which can be suppressed by site-directed mutagenesis of Glu168 in BASI.... (author abst.)
... Load full article, 163 pages, 480 Kb, PDF file

French malting barley prices.(Crop 2007, Crop 2008)
Nominal prices.

nq - Not quoted
Prices for Danish malting barley are available on site www.e-malt.com/MarketPrices

Theoretical malt prices (Crop 2007, Crop 2008).
NB: Prices published are theoretical malt prices including financial cost, THC (for bulk and bags container) and all administrative costs. This prices may fluctuate according to the quantity per delivery and technical specifications.

* - 70/30 = 70% Average two Rows Spring and 30% Six Rows Winter
** - 50/50 = 50% Average two Rows Spring and 50% Six Rows Winter

Australian Barley Prices Evolution
Prices evolution
Source: ABARE, September 2007

Table of the week

Canada: Barley Supply and Disposition as of September 17, 2007

Table of the week. Make it clear - Membership for one year is 169 EUR.
Graph of the week
World Malting Barley Exports (2001/02 - 2008/08f)
Graph of the week. Make it clear - Membership for one year is 169 EUR.
These Days in Business History
24 September
1960 1st nuclear-powered aircraft carrier, launches (USS Enterprise)
1974 John C. Bogle incorporates the Vanguard Group of Investment Cos. to administer -- and to be owned by -- the Vanguard family of mutual funds.
1990 Supreme Soviet gives approval to switch to free market

25 September
1639 1st printing press in America
1654 England & Denmark sign trade agreement
1897 1st British bus service opens
1926 Henry Ford announces 8 hour, 5-day work week

26 September
1404 Brussels Brabants/Limburgse audit-office established
1680 Tax revolt in Gorinchem due to tax on cereal
1786 England & France sign trade agreement
1972 Norway rejects membership in European Common Market
September 2007:
Belgian Beer Weekend
Great Canadian Beer Festival
Bruxellensis Biere Festival
WBA Associate in Brewing Technology Program in Chicago
WBA International Diploma in Brewing Technology Program Chicago & Munich Campuses
Great Japan Beer Festival-Yokohama
WorldFood Moscow

October 2007:
The International Brewing Convention 2007, UK
Newport International Oktoberfest, USA
Grain Market Outlook Conference & Cereals Industry Forum Conference 2007 , UK
Great American Beer Festival
World Beer Festival Durham , USA
Belgian beer and chocolat festival
Tasting Australia
2007 Master Brewers Association of the Americas Convention

November 2007:
The International Hop Growers' Convention (IHGC) Meetings, Germany
International convention for the drink technology and PET industry, India

More events are available on site e-malt.com