E-Malt.com newsletter
February 24 - February 26, 2003

1. Trading info
2. Industry news
3. Theoretical malt prices
4. Malting barley prices
Currency rate
for 25-Feb-2003
1 EUR = 1.0798 USD
1 EUR = 0.6802 GBP
1 EUR = 1.6110 CAD
1 EUR = 1.7845 AUD
1 EUR = 127.28 JPY
1 EUR = 3.8522 BRL
1 EUR = 34.0785 RUB

1. Trading info

At this moment there are two OFFERS for 3000 tons of malt on the trading portal www.e-malt.com

  • Offer for 1000 mtons of malt, Any 2RS(100%), crop 2002, bulk, delivery 01/03/2003 - 31/07/2003, at EUR 298.00 /mton, FOB Antwerp. (to see and make a bid to the malt offer, please view code MF2102P1000)

  • Offer for 1000-2000 mtons of malt, 6RW, Esterel(100%), crop 2002, bulk, delivery 01/06/2003 - 31/08/2003, at EUR 274.00 /mton, FOB Antwerp. (to see and make a bid to the malt offer, please view code MF2102P1340)

 Top Industry News 

  • European Union export sales of malting barley crop 2002. Click here

  • By 2005 beer consumption in Russia may grow by 17%... Click here

  • The Japanese brewer, Sapporo Breweries Ltd., has posted that it is planning to change to a holding-company structure... Click here

  • he Czech brewer, Kralovsky Pivovar Krusovice, has reported a profit of CZK41.5 million for 2002. Click here

  • The Kenyan brewing force, East African Breweries Ltd. (EABL), a subsidiary of the Diageo group, has reported a 60% surge... Click here

More news are available on site www.e-malt.com  

  • Having been restricted for years to promote low-alcohol beer only, brewers will now be able to advertise all beers freely in Sweden ...more info

  • Heineken is about to roll out its "premium" strength lager in the UK, responding to an increased demand for more sophisticated and stronger beers in the country ...more info

  • Brazil's AmBev SA, the world's fifth-largest brewer, posted on February 24 slightly stronger-than-expected fourth quarter earnings ...more info

  • The Japanese third-largest brewer, Sapporo Breweries Ltd., announced on February 21 a 73.4% fall in net profit for 2002 to Y1.17 billion ...more info

  • Fortis Bank, the investment bank, has reduced its recommendation on the Dutch brewer, Grolsch, from "buy" to "accumulate" ...more info

  • The Japanese brewer, Asahi Breweries Ltd., said on February 21 its operating profit fell 11% in 2002, a decline attributed to ...more info

  • Spendrups, the Swedish brewer, which is owned by the Swedish investment company, Spendrup Invest AB, has posted a pre-tax profit of SKr89 million ...more info

  • Orkla, the Norwegian brewing and media concern, has reported a steep fall in pre-tax profits from NKr801 million to NKr125 million ...more info

  • The leading brewer in Chile, CCU (Compania Cervecerias Unidas S.A.), part-owned by the Chilean Quinenco group, has reported net earnings for the fourth quarter of 2002 ...more info

  • 2. Industry news

    European Union export sales of malting barley crop 2002 are estimated as follows:

    China  6-700,000 tons 
    North America  200,000 tons 
    Europe, outside EU  200,000 tons 
    West Coast S, America  100,000 tons 
    Colombia (+75,000 crop 2003)  100,000 tons 
    Brazil / Uruguay  100,000 tons 
    South Africa  40,000 tons 
    Total  1,340-1,440,000 tons 

    EU sales to China include some lower grade barley, but 1.2 million tons of good quality malting barley have definitely been sold. Denmark and France say they have each 250,000 tons for sale. Against that one must calculate local shorts: e.g. 1 % of the EU demand is 90,000 tons. Availability of large cargoes of EU malting barley is restricted to max. 200,000 tons. Canada/USA have purchased at least 200,000 tons of EU malting barley. Canadian industry uses 1,1 million tons of malting barley in a normal year. This year capacity will not be used in full. Barley stocks in both countries show fairly large percentages of sprouted grains. It remains to be seen, whether all stored barley can be used in spring and summer or further imports become necessary. Total barley stocks in Canada on December 31 are 5,176 million tons against 7.859 last year and 10.285 2 years ago.

    By 2005 beer consumption in Russia may grow by 17%, wine by 31%, while vodka will decline by 14% versus 2002, according to Business Analytica. The analysts have assessed that in 2002 the Russians have consumed 705 million dekalitres of beer, which is 11% up compared with 2001, and in 2003 the figure may achieve 758 million dekalitres, while 796 million dekalitres in 2004 and 828 million dekalitres in 2005, Beer Union reported. Meanwhile, in 2001 beer sales totalled 635 million dekalitres, while 525 million dekalitres in 2000, 451 million dekalitres in 1999, and 408 million dekalitres in 1998.

    The Japanese brewer, Sapporo Breweries Ltd., has posted that it is planning to change to a holding-company structure from the beginning of July, in a bid to speed up decision-making and make it easier for the company to form strategic business alliances. The changes will see the formation of a holding company, called Sapporo Holdings Ltd., which will have four subsidiaries: alcholic drinks, soft drinks, restaurant operations and real estate. Tatsushi Iwama, currently president of Sapporo Breweries, will become president of Sapporo Holdings. The plan will be put to shareholders at a shareholders' meeting in March.

    The Czech brewer, Kralovsky Pivovar Krusovice, has reported a profit of CZK41.5 million for 2002, up from CZK600,000 in 2001. However, sales volumes continued a decline, which began in 1997. Output fell from 710,588 hl in 2001 to 687,000 hl in 2002. Volumes had been in excess of 1 million hl in 1997. The brewer's exports rose by 33% in 2002 from 57,127 hl to 76,150 hl. Germany is by some way the company's largest export market, accounting for around two thirds of Krusovice's total exports.

    The Kenyan brewing force, East African Breweries Ltd. (EABL), a subsidiary of the Diageo group, has reported a 60% surge in its pre-tax profit for the six months to December 2002 up to KS2.28 billion (Kenyan Shillings) ($29.8 million). The rise is attributed to the ending of one of Africa's toughest beer turf wars, the company said. EABL also said the pre-tax profits had been boosted by its new spirits business, the Uganda-based subsidiary International Distillers Uganda Ltd whose profits were up 100 percent, reflecting improved sales in beer and spirits. South African Breweries International (SABI) and EABL, agreed in May to swap their brewing and beer distribution operations in Kenya and Tanzania to survive tightening demand and losses. The deal meant that SABI, a part of the world's biggest emerging beermaker South African Breweries, would dominate the Tanzanian market, and EABL would consolidate its hold on the Kenyan market. It effectively ended a turf war that had been costly to both sides...more info

    3. Theoretical malt prices.

      EURO = USD 1.0798 February 25, 2003 
    Crop year  2002 
    Parity  FOB Antwerp 
    Position  Oct 2002-Sept 2003 
    Conditioning  Bulk   In bags  Bulk containers  In bags in containers 
    Malting barley variety  EURO  USD  EURO  USD  EURO  USD  EURO  USD 
    2RS  Prisma  292.50  315.50  307.50  332.00  304.50  329.00  313.50  339.00 
    2RS  Scarlett  294.00  317.50  309.50  334.00  306.50  331.00  315.50  340.50 
    2RS  Aspen  288.50  311.50  304.00  328.00  301.00  325.00  310.00  335.00 
    2RS  Optic  286.50  309.50  302.00  326.00  299.00  323.00  308.50  333.00 
    2RS  Astoria  285.50  308.50  301.00  325.00  298.00  321.50  307.00  331.50 
    2RS  Cork   284.50  307.00  299.50  323.50  296.50  320.50  305.50  330.00 
    2RS   Average price  288.50  311.50  304.00  328.50  301.00  325.00  310.50  335.00 
    2RS  FAQ  283.00  305.50  298.50  322.50  295.50  319.00  304.50  329.00 
    6RW  Esterel   268.00  289.50  283.50  306.00  280.50  302.50  289.50  312.50 

    Theoretical malt prices for crop 2003 are available on site www.e-malt.com

    4. Malting barley prices. French barley prices. Nominal prices.

    EURO = USD 1.0798 February 25, 2003 
     Crop year   2002   2003 
     Parity   FOB Creil   FOB Creil 
     Position   July 2002   July 2003 
    Type   Variety  EURO  USD  EURO  USD 
    2RS  Scarlett  141.00  152.50  141.00  152.50 
    2RS  Prisma  139.50  151.00  nq  nq 
    2RS  Prestige  nq  nq  140.00  151.50 
    2RS  Aspen  136.50  147.50  139.00  150.50 
    2RS  Optic  135.00  146.00  138.00  149.50 
    2RS  Astoria  134.00  145.00  136.50  147.50 
    2RS  Cork   133.00  144.00  135.50  146.50 
    6RW  Esterel   123.00  133.00  125.50  135.50 

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

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