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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

31 Aug - 02 Sept 2005
Crop 2005
2rs Barley €117.0-118.0 -0.84%
6rw Barley €105.0-107.0 -0.93%

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 35a, 2005

See this Newsletter!
Newsletter 34b, 2005

See this Newsletter!
Newsletter 34a, 2005

See this Newsletter!
Newsletter 33b, 2005

See this Newsletter!
Newsletter 33a, 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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E-malt.com Tables

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 35b
August 31 - September 02, 2005

Currency Rates
Base Currency: Euro, EUR
on 02-September-2005

1 EUR = 1.2491 USD
1 EUR = 0.6816 GBP
1 EUR = 1.4786 CAD
1 EUR = 1.6405 AUD
1 EUR = 137.24 JPY
1 EUR = 2.9454 BRL
1 EUR = 35.5032 RUB
1 EUR = 10.1238 CNY
Base Currency: US Dollar
on 02-September-2005

1 USD = 0.8008 EUR
1 USD = 0.5456 GBP
1 USD = 1.1837 CAD
1 USD = 1.3133 AUD
1 USD = 109.89 JPY
1 USD = 2.358 BRL
1 USD = 28.423 RUB
1 USD = 8.1049 CNY

EUR/USD Chart

Equities of the Largest Breweries

Top Industry News
Australia: Lion Nathan announces takeover bid for Coopers Brewery... Click here

Thailand: Denmark’s Carlsberg could be again business partner with Chang... Click here

UK: Diageo’s preliminary results for the year ended 30 June 2005... Click here

Russia: Voronezhsky brewery’s shareholders file a court suit, blocking the way for Baltic Beverages Holding... Click here

USA: For the first time sine 1992 Beer gives up its place to wine as America's Drink of Choice... Click here

Argentina: Cargil will have a second malt plant of more than 100,000 tonnes capacity in Argentia... Click here

Ireland: Barley growers warned on barley prices and offered premiums for surplus supplies... Click here

Canada: Estimations on Canadian barley production and exports... Click here

More News
Australia: Coopers is determined to fight Lion Nathan’s takeover bid ...more info

Russia: Yarpivo Breweries increase sales in H1 of 2005 ...more info

UK: Greene King announced the trading performance for the 12 week period ...more info

Japan: Asahi strengthens its non-core operations ...more info

Canada: Canadian Malting Barley Technical Centre about changes on international beer production scene ...more info

Thailand: Boon Rawd Brewery plans focusing on non-alcoholic drinks ...more info

Russia: A new system of barley certification is to be introduced from September 2005 ...more info

Serbia-Montenegro: Kosovo Authorities put the province's biggest hotel and a brewery up for sale ...more info

Mexico: Mexican food producer Grupo Herdez ended its distribution contract with Heineken ...more info

Czech Republic: Winter barley harvest is almost complete, 73% of spring barley cropped ...more info

UK: Russian brewery Ochakovo begins exports to Albion ...more info

USA: Budweiser states beer wasn’t contaminated at the plant ...more info

USA: Miller brewer donates up to $ 1 million to American Red Cross to aid Hurricane relief efforts ...more info

USA: Anheuser-Busch donates $250,000 and ships 825,000 water cans to victims of Hurricane Katrina ...more info

Kazakhstan: The most popular beer in Kazakhstan is Baltica brand ...more info

USA: National Beer Wholesalers Association about beer industry importance in Utah ...more info

Russia: Restrictions on beer advertising affects negatively beer consumption ...more info

Turkey: Turk Tuborg will have a new CEO ...more info

Czech Republic: Extraordinary General Meeting held at Plzensky Prazdroj ...more info



Brewery News

Australia: Lion Nathan announces takeover bid for Coopers Brewery

Lion Nathan Ltd announced on September 1 that it intends, through its wholly owned subsidiary, Lion Nathan Australia Pty Ltd, to make an off-market offer for Coopers Brewery Ltd.The Offer is A$260 per share in cash for each class of Coopers shares. The Offer values the ordinary equity in Coopers at A$352 million. The Offer is not subject to a minimum acceptance condition.

The Offer of A$260 per share in cash provides a demonstrably fair price to Coopers shareholders and represents:

-a 478% premium to the price of a buy-back conducted by Coopers of A$45.01 per share in 2003;
-a 416% to 557% premium to the value of Coopers as assessed by the Independent Expert (KPMG) in a report prepared in relation to the buyback conducted by Coopers in 2003;
-a multiple of 19.4 times Coopers’ 30 June 2004 EBITDA(Coopers’ last published accounts), which compares favourably with precedent transactions and sector trading benchmarks; and
-an opportunity for Coopers shareholders to access liquidity and sell some or all of their shares.

Coopers is an unlisted public company based in Regency Park, South Australia. Coopers has approximately 117 shareholders, some of whom have approached Lion Nathan recently with a view ...

...
more info


Thailand: Denmark’s Carlsberg could be again business partner with Chang

Denmark’s Carlsberg announced on August 31 that it has settled a dispute with its former Asian joint-venture partner Chang, for $120 million according to Reuters. Carlsberg said its 2005 company results would show it will be hit by a $40 million fair value adjustment of the purchase price for shares in two Asian breweries, which it purchased in 2002.

Carlsberg will also pay $80 million for a 50% stake in Brewery Invest Pte Ltd and 49% of Carlsberg Brewery Hong Kong from Chang. Carlsberg ended its partnership with Chang in 2003, saying that the Thai company had not fulfilled its obligations under the joint venture agreement.

Chang, controlled by Thai whisky tycoon Charoen Sirivadhanabhakdi, replied by demanding up to $2.5 billion in compensation for the termination of the joint venture.

"Chang and Carlsberg have agreed on an amicable settlement of the matters in dispute, including the arbitrations in London and Bangkok," the companies said in a joint statement, adding they will explore possibilities of working together in Thailand and Malaysia.

As part of the agreement, Carlsberg sells around 50% of Carlsberg Thai to Chang and 49% of Sukhothai Marketing Co. Carlsberg Thai will be renamed, the parties said.

Carlsberg anticipates 2005 net profit to rise ...

...
more info


UK: Diageo’s preliminary results for the year ended 30 June 2005

Diageo, the world's biggest alcoholic drinks group announced its annual results on September 1.
Diageo has achieved organic growth in net sales (after deducting excise duties) of 4% and operating margin expansion of 0.6 percentage points resulting in organic operating profit growth of 7%. Continued strong generation of free cash flow at ?1.4 billion. EPS before exceptional items 49.1 pence per share. Recommended full year dividend 29.55 pence per share.

Net sales (after deducting excise duties) of global priority brands excluding ready to drink grew 6% Marketing increased 5% excluding ready to drink . Restructuring costs of nearly ?90 million charged to operating profit to improve efficiency and reduce costs in future years

In North America, strong top line growth together with overhead reduction delivered organic operating profit growth of 11%. Volume grew 4% and Diageo gained share in the United States across all three categories - spirits, wine and beer – in a market which is estimated to have grown by 3.5%. Although volume for the ready to drink sector was flat, Diageo gained share.

In Europe, operating profit grew 3% despite challenging trading conditions and further contraction of the ready to drink segment. Volume and net sales ...

...
more info


Russia: Voronezhsky brewery’s shareholders file a court suit, blocking the way for Baltic Beverages Holding

One more company of Baltic Beverages Holding (BBH) was against the consolidation of the Russian brewery market. Minor shareholders of Voronezhsky brewery filed a suit with the local court of arbitration demanding that the merger with Yarpivo be forbidden. Unknown shareholders of Baltika and Pikra, two other breweries of BBH, have recently taken similar steps, the daily Kommersant reported on August 31 . At this time the holding will be hardly able to resist the pressure of its minor shareholders.

Yarpivo and Voronezhsky brewery, two breweries,held annual general meetings in June 2005 when Yarpivo approved the merger, while shareholders of Voronezhsky brewery disagreed. Offshore company Emit Trading Limited, a minor shareholder in Voronezhsky brewery, filed a suit with the Court of Arbitration of Voronezh Region yesterday demanding that the agreement on the consolidation of Voronezhsky brewery into Yarprivo be nullified.

Actions of minor shareholders of the Voronezhsky brewery resemble recent steps taken by their counterparts from Baltika and Pikra, two other breweries of Baltic Beverages Holding.

Minor shareholders of the two breweries went to court to challenge results of the vote at the general meeting claiming that Hartwall Capital company, which acted as a minor shareholder then, is in fact connected ...

...
more info


USA: For the first time sine 1992 Beer gives up its place to wine as America's Drink of Choice

Pennsylvania Liquor Control Board announced on September 1 that for the first time since 1992 when Gallup began tracking beverage preferences, wine has surpassed beer as America's alcoholic drink of choice. In the latest poll taken July 7-10, 39 percent of participants preferred wine, 36 percent preferred beer and 21 percent chose liquor as their drink of choice. As recently as 2000, beer topped wine 43 percent to 31 percent and was the top selection again in 2004 by a 39 to 33 percent margin. The Pennsylvania Liquor Control Board says the shift is no surprise.

"We're seeing more customers with a genuine curiosity and eagerness to try new things," said PLCB Chairman Jonathan Newman. "The preconceptions of wine as a 'fancy' beverage are also being broken down. People are beginning to recognize wine as something they can enjoy in many of the same situations where they once enjoyed beer."

In Pennsylvania, wine sales increased from 18.3 million gallons in calendar year 2003 to 19.4 million in 2004. During the same time period, spirits sales rose from 12.8 million gallons to 13.7 million gallons. Beer sales still far outpace both wine and spirits sales in Pennsylvania, but sales fell slightly from 337.4 ...

...
more info

Malt News

Argentina: Cargil will have a second malt plant of more than 100,000 tonnes capacity in Argentia

U.S.A’s agricultural giant Cargill , will make in investment of EUR 41 Million ($50 Million) in a malt plant in Alvear, Santa Fe state of eastern Argentina, Latin America News Digest reported on August 30. This one will be the second malt-processing plant of Cargill in Argentina, besides the plant from in Bahia Blanca.

Cargill will finance the investment with own funds. The agricultural group will build the plant, a warehousing facility for the raw material, as well as water purification plant and a plant to treat sewage waters

Now, the malt plant of Cargill in Bahia Blanca has the capacity to produce 90,000 tonnes of malt a year. After achieving its 100 %capacity, the plant will make 138,000 tonnes of malt a year. About 70 % of the output will be exported.

The Alvear plant is expected to employ 300 people and is seen to be put into operation in September next year.

Barley News

Ireland: Barley growers warned on barley prices and offered premiums for surplus supplies

Grain growers were warned on September be price wise and not sell their crop at last year’s prices, when deals far in excess of those returns are being offered.

Paddy Harrington, IFA Grain Committee chairman announced EUR 102 – EUR 105/tonne at 20% moisture exclusive of VAT is available on deals for barley and wheat from grain merchants, with up to EUR 110 /tonne obtainable on grain traded at 20% moisture inter-farm.

The growers of malting barley who have supplied tonnage above their contracts are offered premia of EUR 8 - EUR 10/tonne.


Canada: Estimations on Canadian barley production and exports

According to the report of Agriculture and Agri-Food Canada released on September 1, the Canadian barley production is estimated to fall by 6% from 2004-05, due to lower yields and harvested area. Total supply, however, is projected to increase slightly as lower production is more than offset by higher carry-in stocks resulting from the large production of low-quality barley in 2004-05.

Exports are expected to rise by 25%, due to higher exportable supplies of malting quality barley and less competition in overseas feed barley markets. Carry-out stocks are expected to drop significantly to near normal level.

The off-Board feed barley price is forecast to rise slightly. Malting barley prices will be pressured by higher world production, with the CWB PRO for Special Select 2-Row down by C$6/t from 2004-05 to C$172/t.

USA: Decreased demand for hops

USA exports around 70% of the annually grown hops. However, as countries improve the quality of the crop, many growers find it harder to survive, KVEW communicated on August 25. Dick Olsen has grown hops near prosser for 25 years. He says this year's harvest is nothing unusual.
"I think this is a pretty typical year for growing hops, it has been difficult It not only produces more to the acre, instead of 10 bails to the acre it produces about 18 bails to the acre and instead of about 9% alpha acids, it produces sometimes as high as 20% alpha acids," said Olsen.

The higher quality hops have led to an over supply, driving down demand. "That resulted in a lack of new contracts because there was so much in the market place and as a result the prices were decreased and growers had to remove acres," said George with the Washington Hop Commission. n fact, experts say farmers use 20% less land for hops today, than they did six years ago. Industry experts say the once flooded hops market is clearing up.

"As a result brewers are now realizing that they may not be able to purchase ...

...
more info


Malting barley prices. French barley prices.
Nominal prices.

EURO = USD 1.2491 September 02, 2005 
 Crop year   2004   2005 
 Parity   FOB Creil   FOB Creil 
 Position   July 2004   July 2005 
Type   Variety  EURO  USD  EURO  USD 
2RS  Scarlett  nq  nq  119.00  145.50 
2RS  Prestige  nq  nq  118.00  144.50 
2RS  Cellar  nq  nq  118.00  144.50 
2RS  Aspen  nq  nq  nq  nq 
2RS  Optic  nq  nq  nq  nq 
2RS  Sebastien  nq  nq  117.00  143.50 
2RS  Astoria  nq  nq  117.00  143.50 
2RS  Cork   nq  nq  116.00  142.00 
6RW  Esterel   nq  nq  106.00  130.00 
nq - Not quoted
Prices for Danish and UK malting barley are available on site www.e-malt.com/MarketPrices

Table of the week
Top 5 Beer Brands in Poland

Nr. Brand Name Market share (%)
Source: KP vs GUS, May 2005  Source: AC Nielsen, May 2005 
Tyskie /SABMiller 16.4  13.3 
Zubr /SABMiller 9.1 
Tatra Pils /Browar Zywiec (Heineken) na  6.7 
Zywiec /Browar Zywiec (Heineken) na  6.6 
Lech /SABMiller 7.2  5.8 


Graph of the week

Agenda
September 2005:
International Brewery and Soft Drinks Industry Exhibition
4th WORLD BEER & DRINKS FORUM
Great Canadian Beer Festival
4th World Beer & Drinks Forum 2005
Brew Cruise to New England/Canada
Drinktec 2005
St. Feuillien Dinner at Monk's.
The Berghoff OKtoberfest
Birmingham Beer Festival
40th Annual Mt. Angel Oktoberfest
Fremont Oktoberfest
Munich Oktoberfest 2005
10th Annual Madison County Hop Fest
3rd Annual Big Lake Brewfest
Great Lakes Brew Festv Ludwig's Oktoberfest 2005
New South Wales Brewing Championships 2005
Great American Beer Festival
Keighley Beer
Stockholm Beer & Whisky Festival
Harpoon Octoberfest

October 2005:
7th Annual Charlotte Oktoberfest
Custom Brewcrafters Autumn Festival Of Ales
MBAA Brewing & Malting Science Course, Univ
BJ's Beer Appreciation Night Woodland Hills - Oktoberfest - Bavaria's Best
International Beer Summit / Kokusai Beer Matsuri
5th 2005 Technical Symposium, "The US Brewing Industry Considered"
10th Annual World Beer Festival
5th Annual Autumn Brew Review
Anuga 2005, is a biennial show and is known as the world’s
Maryland Brewer's Oktoberfest
Great Decatur Beer Tasting Festival 2005
Nottingham Beer Festival
Falmouth Beer Festival Cornwall CAMRA
28th Norwich Beer Festival
New England Beer Fest

November 2005:
US Grains Council International Malt Barley & Malting Buyers Conference San Francisco
GlobalGrain 2005
5th International Forum " Drinks Industry 2005"



More events are available on site e-malt.com
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