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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
Theoretical malt prices
Malting barley prices
Barley price evolution
Table of the week
Graph of the week
Agenda
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Average market prices
Change trend
09 Feb - 10 Feb 2006
Crop 2005
2rs Barley €114.00-116.00   
6rw Barley €102.00-104.00   
2rs Malt €242.00-244.00   
6rw Malt €226.50-228.50   
Crop 2006
2rs Barley €117.00-119.00 0.77%
6rw Barley €104.00-106.00 0.94%
2rs Malt €242.50-244.50 0.61%
6rw Malt €226.50-228.50 0.44%

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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Newsletter 06a, 2006
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Newsletter 05b, 2006
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Newsletter 05a, 2006
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Newsletter 04b, 2006
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Newsletter 04a, 2006
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Newsletter 03b, 2006

Market price evolutions

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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 06b
February 09 - February 10, 2006
Quote of the week

"Should I fail to find the way to do this, I will invent it."
Sir Philip Sidney

Currency Rates
Base Currency: Euro, EUR
on 10-February-2006

1 EUR = 1.1971 USD
1 EUR = 0.6873 GBP
1 EUR = 1.3752 CAD
1 EUR = 1.6189 AUD
1 EUR = 141.938 JPY
1 EUR = 2.6105 BRL
1 EUR = 33.8329 RUB
1 EUR = 9.6453 CNY
 Base Currency: US Dollar
on 10-February-2006

1 USD = 0.8355 EUR
1 USD = 0.5742 GBP
1 USD = 1.1488 CAD
1 USD = 1.3523 AUD
1 USD = 118.585 JPY
1 USD = 2.1807 BRL
1 USD = 28.2626 RUB
1 USD = 8.0573 CNY

EUR/USD Chart

Equities of the Largest Breweries

Top Industry News
Japan: January beer shipments up 7.8%, Kirin regains No. 1 share... Click here

Canada: Molson Coors reports 2005 fourth quarter and full-year results... Click here

Czech Republic: Beer Export increased by 17 % in 2005 year-on-year... Click here

Singapore: Asia Pacific Breweries FY2005/06 Quarter 1 results announcement... Click here

Thailand: Thai Beverage’s listing on the SET will help boost the country's economy... Click here

USA: Redhook Ale Brewery reports 2005 fourth quarter and fiscal year end results... Click here

Finland: Raisio Oyj said the malt business ran at nearly full capacity in 2005... Click here

Australia: ABB Grain Ltd reduced malt barley pools by A$2/tonne... Click here

EU: 2 million tonnes of export certificates for barley have been granted up to Jan. 30... Click here

More News
UK: New drink laws having a positive effect, says pub sector ... More Info

Japan: Asahi Breweries' pretax profit falls on weak beer sales ... More Info

EU: EU grain intervention stocks are 18.5 million tonnes ... More Info

World: World Crops and Markets Estimates by IGC ... More Info

Canada: Molson Coors shares dipped; analysts’ overview ... More Info

Japan: Asahi Breweries named new president from soft drink unit ... More Info

Belarus: By 2010 beer production is to increase up to 6 million hl ... More Info

Australia: Market analysts expect Foster's Group Ltd to report strong beer sales ... More Info

UK: Supply chain specialist Gist extends Carlsberg UK partnership ... More Info

Mercosur: Mercosur supplies are sufficient for domestic demand plus exports ... More Info

USA: Beer Institute establishes independent review board for advertising complaints ... More Info

Australia: Lion Nathan confirms guidance, reports solid first quarter ... More Info

Ukraine: Ukrainian barley exports in July-December 2005 dropped by 34% year-on-year ... More Info

Russia: Heineken plans to control up to 15% of the Russian beer market in 2006 ... More Info

Singapore: Fraser & Neave Q1 profit up 5.4 pct ... More Info

Ireland: Greencore chairman Ned Sullivan announced increased pre-tax profits ... More Info

India: United Breweries is investing towards doubling sales capacity in the next 3-4 years ... More Info

Ireland: A new low-alcohol Guinness for a new age ... More Info

Australia: The Managing Director of AWB Limited has tendered his resignation ... More Info

Germany: Huppmann upgrades lauter tuns up to maximum performance ... More Info

UK: Pubs in the Guernsey Island are among the most expensive in the British Isles ... More Info

USA: Miller Brewing Co. secures sponsorship extension with White Sox ... More Info



Brewery News
Japan: January beer shipments up 7.8%, Kirin regains No. 1 share

Shipments of beer and beer-like alcoholic beverages by top five producers rose 7.8 % in January from a year earlier for the first increase in three months as so-called "third-category beer" posted sharp growth, industry figures showed on February 10, according to Kyodo News.

Kirin Brewery Co. regained the position as holder of the biggest market share, beating Asahi Breweries Ltd. by a small margin.

The brisk shipment result in January is also a reflection of weak sales in the same month of 2005 affected by a ban on rebates for sales promotions, the Brewers Association of Japan and beer makers said.

Shipments by Kirin, Asahi, Sapporo Breweries Ltd., Suntory Ltd. and Orion Breweries Ltd. came to 23.21 million cases. One case holds 20 633-milliliter bottles.

Shipments of third-category beer, or beer-like sparkling drinks, nearly doubled to 3.94 million cases, accounting for 17 percent of the market. Products in this category are cheaper than both regular and low-malt beer as they are taxed at a lower rate.

Regular beer shipments rose 7.9 percent to 13.63 million cases for the first expansion in three months, while shipments of "happoshu" low-malt beer slumped 19.6 percent to 5.63 million cases for the 18th ... More Info

Canada: Molson Coors reports 2005 fourth quarter and full-year results

Molson Coors Brewing Company reported on February 9 lower consolidated net sales, sales volume and income from continuing operations for the fourth quarter and full year 2005 compared to pro forma periods in 2004. Following the company’s sale of 68 percent equity interest in its Brazilian unit, Cervejarias Kaiser (“Kaiser”), the company now reports historical results for its Brazil business as discontinued operations, including for the company’s 2005 fourth quarter and full year results and 2004 pro forma results. (All $ amounts are stated in U.S. dollars.)

For the 13-week fourth quarter ended December 25, 2005, the company reported net sales of $1.38 billion and sales volume of 10.3 million barrels, or 12.1 million hectoliters (hl), from continuing operations (Canada, U.S. and Europe). Fourth quarter 2005 consolidated net income was $22.4 million, or $0.26 per diluted share. After-tax income from continuing operations, excluding special items, was $53.9 million*, or $0.63 per diluted share, down 34.1 percent from the pro forma fourth quarter 2004. (*See table below for reconciliation to nearest U.S. GAAP measure.)

For the 52-week fiscal year ended December 25, 2005, the company reported pro forma net sales of $5.61 billion and sales volume of 41.2 million barrels, or 48.3 million ... More Info

Czech Republic: Beer Export increased by 17 % in 2005 year-on-year

Export of Czech beer increased by more than 17 % in 2005 compared to the previous year, Associated Press cited officials saying on February 9.

Czech breweries exported a total of 310 million liters (81 million gallons) of beer last year, said Jan Vesely, the head of the Czech Beer and Malt Association. It was 264 million liters (70 million gallons) in 2004.

In 2005, the country's overall beer production increased by 1.7 % to 1.9 billion liters (496 million gallons), Vesely said. Domestic consumption dropped by one percent to 1.6 billion liters (415 million gallons), he said.

Some 16 % of the country's production of beer was exported in 2005, with Pilsner Urquel, Staropramen and Budweiser Budvar being the most exported Czech beers. Germany, Slovakia, Britain and the United States were the biggest importers of Czech beer in 2005.

Singapore: Asia Pacific Breweries FY2005/06 Quarter 1 results announcement

Asia Pacific Breweries Limited (APB), the the maker of Tiger Beer, announced on February 10 that for FY2005/06 Quarter 1 attributable profit to shareholders of the company before exceptional items rose 16% to reach $39.4 million.

After reporting a record high in revenue, profit before interest, taxation and exceptional items (PBIT) and attributable profit to shareholders of the Company before exceptional items for the last financial year ended 30 September 2005, Asia Pacific Breweries Limited (APB) continues to build a solid momentum in the first quarter and provided an excellent head start to the new financial year - FY2005/06. Higher volumes were achieved in almost all the operating markets, with breweries in Cambodia, Thailand, Papua New Guinea and China delivering double-digit growth.

PBIT increased by $10.2 million or 15% over last year to reach $77.2 million. Attributable profit to shareholders of the Company before exceptional items rose by $5.4 million or 16% to reach $39.4 million.

Indochina, New Zealand and Papua New Guinea remain the top three contributors to Group PBIT. Mr Koh Poh Tiong, Chief Executive Officer of APB, said, "The Indochina region is distinctly our pivotal growth builder characterised by higher sales and increasing PBIT. Our performance was once again boosted ... More Info

Thailand: Thai Beverage’s listing on the SET will help boost the country's economy

Thai Beverage should be allowed to list on the Stock Exchange of Thailand (SET) to help boost the country's economy, according to a member of the National Economic and Social Advisory Board, The Bangkok Post communicated on February 7. Kriang Wisitsora-at said the economic benefits of a listing outweighed potential disadvantages to society, 80 to 20.

"If we consider the economic aspects, there are benefits of allowing an alcoholic beverage producer to list on the SET. On the other hand, there are social consequences as well," he said on February 6. "But the social problems of drinking occurred long ago. Whether a company lists on the SET or not, the public will continue to drink beer and liquor ... My thinking is that if the economy improves, then society will also." He made the comment at a forum held by the Council and attended by 200 people to debate the listing application of ThaiBev.

The company, owned by billionaire Charoen Sirivadhanabhakdi, produces market-leading Chang beer, Mekhong rum and a host of other liquor products. It has seen its attempts to list delayed since last year by opposition from social and religious groups. ThaiBev says it will now explore a listing on the ... More Info

USA: Redhook Ale Brewery reports 2005 fourth quarter and fiscal year end results

Redhook Ale Brewery, Incorporated announced on February 8 a 2005 fourth quarter net loss of $581,000, or $0.07 loss per share, compared to a 2004 fourth quarter net loss of $638,000, or $0.08 loss per share. For the full year 2005, the Company incurred a net loss of $1,200,000, or a $0.15 loss per share, compared to a net loss of $954,000, or a $0.14 loss per share in 2004. The 2005 fourth quarter results reflect an increase in beer sales as well as income from the Company's investment in Craft Brands Alliance LLC ("Craft Brands"), offset by an increase in the cost of packaging, freight, utilities, and selling, general and administrative expenses. Negatively impacting the 2005 fourth quarter net loss is a significant non-cash income tax charge, driven by the possibility that the Company may not be able to utilize tax operating loss carryforwards before they expire.

The Company reported sales of $7,956,000 in the fourth quarter of 2005, an increase of 13% as compared to sales of $7,016,000 in the same quarter of 2004. The $940,000 increase in total sales is largely attributable to an increase in wholesale beer shipments, but also to a modest increase in sales ... More Info

Malt News
Finland: Raisio Oyj said the malt business ran at nearly full capacity in 2005

Raisio plc announced on February 9 that its turnover in the malt business was EUR 21.4 million (EUR 24.7 million). The company commented: “The oversupply of malt in the EU region and increased malting capacity in Russia further intensified price competition in the malt markets. While the Finnish malt market has remained unchanged from the previous year, price competition has grown stiffer.”

Raisio’s turnover for 2005 was nearly the same as the previous year: EUR 434.6 million (EUR 437.9 million in continuing operations in 2004). Operating result, excluding one-off items, amounted to EUR 9.1 million (EUR 10.6 million in continuing operations, excluding one-off items in 2004). The recorded operating result in the financial statements was EUR -10.9 million (EUR -18.4 million). Earnings per share, excluding one-off items, was EUR 0.05 (EUR 0.07). Reported earnings per share amounted to EUR -0.04 (EUR -0.12). The Board of Directors proposes a dividend of EUR 0.05 per share.

Raisio’s renewal started with increased product development inputs, investments and networking.
Operating result for 2006 is expected to improve over the previous year.

Raisio’s turnover grew slightly in the last quarter, totalling EUR 112.9 million (EUR 112.1 million). Raisio Nutrition’s turnover increased to EUR 99.0 million (EUR 97.5 million), while ... More Info

Barley News
Australia: ABB Grain Ltd reduced malt barley pools by A$2/tonne

ABB Grain Ltd announced on February 9 it has reviewed its gross barley pool indicators for 2005/2006 and has reduced its malting barley estimates by A$2/tonne.

The revised estimates for the No.1 malting pool in South Australia, which closed on January 24, is now A$186/t, with the No.1 feed pool in SA unchanged at A$163/t. For the No.2 malting pool in SA which opened on January 24, the revised estimate is A$168/t, with the No.2 feed pool unchanged at A$150/t.

The revised estimates for the Victorian No.1 pool, which closed on October 31, is A$191/tonne for malting barley and unchanged at A$168/t for feed barley in the No.1 pool. In the east coast pool (Victoria, NSW and Queensland) the gross barley pool indicators for the No.2 pools, which closed on January 24, is now A$186/t for malting barley, with the feed No.2 pool unchanged at A$163/t. For the No.3 pools which opened in Victoria, NSW and Queensland on January 24, the revised estimate is now A$168/t for malting barley with the No.3 feed pool unchanged at A$150/t.

A A$5/t premium applies to Baudin and Sloop varieties, although this is the last season in which this premium will apply.

ABB’s general manager marketing, Nigel Officer, ... More Info

EU: 2 million tonnes of export certificates for barley have been granted up to Jan. 30

Export estimates of EU barley during the present crop year range from 3.3 to 4.0 million tonnes. 2 million tonnes of export certificates have been granted to-date, maybe the second half of the campaign will see larger export volumes, as supplies from the Black Sea are drying up.

678,000 tons of the bookings were "daily" licences with no refund. Analysts estimate that 400,000 tonnes were booked for exports of malting barley. EU malting exports went mainly to China, Colombia, South Africa and Turkey. Russia has so far been a minimal customer for crop 2005 barley. China imported 300,000 tonnes of French barley during the year, most of it, however, of crop 2004.


Malting barley prices. French barley prices.
Nominal prices.

EURO = USD 1.1971 February 10, 2006 
 Crop year   2005   2006 
 Parity   FOB Creil   FOB Creil 
 Position   July 2005   July 2006 
Type   Variety  EURO  USD  EURO  USD 
2RS  Scarlett  116.00  139.00  119.00  142.50 
2RS  Prestige  115.00  138.00  118.00  141.50 
2RS  Cellar  115.00  138.00  118.00  141.50 
2RS  Sebastien  114.00  136.50  117.50  141.00 
2RS  Astoria  113.50  136.00  116.00  139.00 
2RS  Cork   114.50  137.50  117.00  140.50 
6RW  Esterel   103.00  123.50  105.00  126.00 
Theoretical malt prices.

  EURO = USD 1.1971 February 10, 2006 
Crop year  2005 
Parity  FOB Antwerp 
Position  Feb 2006-Sept 2006 
Conditioning  Bulk   In bags  Bulk containers Bags, containers
Malting barley variety  EURO  USD  EURO  USD  EURO  USD  EURO  USD 
2RS  Scarlett  244.50  293.00  259.00  310.00  259.00  310.00  261.50  313.00 
2RS  Prestige  243.50  291.50  257.50  308.50  257.50  308.50  260.50  311.50 
2RS  Cellar  243.50  291.50  257.50  308.50  257.50  308.50  260.50  311.50 
2RS  Sebastien  242.00  290.00  256.50  307.00  256.50  307.00  259.00  310.00 
2RS  Astoria  241.50  289.00  256.00  306.50  256.00  306.50  258.50  309.50 
2RS  Cork   242.50  290.50  257.00  307.50  257.00  308.00  259.50  310.50 
2RS   Average price  243.00  291.00  257.50  308.00  257.50  308.00  259.50  311.00 
6RW  Esterel   227.50  273.50  243.00  290.50  243.00  291.00  245.50  293.50 
*  Asia Malt 70/30  238.50  285.50  253.00  303.00  253.00  303.00  255.50  306.00 
**  Asia Malt 50/50  236.00  282.50  250.00  299.50  250.00  299.50  252.50  302.50 

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

Theoretical malt prices for crop 2006 are available on site www.e-malt.com/MarketPrices

Barley Prices Evolution

Source: E-Malt

Table of the week

EU Malt Export Licence Fixations

(in tonnes)   2001-2002   2002-2003   2003-2004  2004-2005   July 01, 2005 -
January 24, 2006  
 France   701,134  661,772  774,761  674,140  385,850 
 Germany   468,314  408,063  422,047  295,876  133,468 
 Belgium   296,368  287,850  317,292  418,344  287,158 
 U.K. 350,621  294,995  443,501  201,892  118,025 
 Finland   91,890  100,758  114,165  64,986  27,197 
 Denmark    96,812  94,791  90,452  74,743  33,972 
 Sweden   101,000  76,916  78,369  88,840  68,000 
 Netherlands   51,310  66,219  80,703  49,128  46,280 
 Ireland   35,145  31,140  38,900  56,924  7,001 
 Austria   8,840  8,620  60,211  16,954  13,575 
 Spain   2,400  5,640  10,000  -  - 
 Greece   1,744  1,306  979  130  - 
 Portugal   221  85  695  850  476 
 Italy   -  2  -  -  - 
 Total EU 15  2,205,799  2,038,157  2,432,075  1,942,807  1,121,002
 New EU members  May-June, 04     
 Czech Republic       34,340  82,062  37,306 
 Poland       7,604  32,084  - 
 Hungary       2,830  85,792  15,478 
 Slovakia       1,000  76,916  36,368 
 Total EU 25   2,205,799  2,038,157  2,477,849  2,219,661  1,210,256 

  Total Wheat malt, tonnes  
Total 2001-2002    12,805 
Total 2002-2003    30,908 
Total 2003-2004    15,768 
Total 2004-2005    8,162 
July 01 –January 24, 2006   2,271 
   
  Total Roasted malt, tonnes  
Total 2001-2002    23,480 
Total 2002-2003    23,603 
Total 2003-2004    24,438 
Total 2004–2005    27,212 
July 01 - January 24, 2006   13,407 
Newsletter SummaryTop
Graph of the week


Agenda

February 2006:
Food, Hotel & Tourism Bali 2006 The 6th International Exhibition
FRUCHTWELT BODENSEE International Trade Fair for Fruit, Berries, Hops and Destillation
World Brewing Academy International Diploma Conducted at the facilities of Siebel Institute...
ProdEXPO-2006 XIV International Fair-Exhibition.
AHA Membership Rally - New Belgium Brewing Co
August Schell Brewings' Annual Bock Fest...
Sarasota Rhythm & Brews
Florida's best beer festival
GrainWorld 2006

March 2006:
China Drinktec - China International Exhibition on Beverage, Brewery and Wine Technology
Florida Brewers Guild Beer Festival. Beerfest 2006
Nightclub & Bar/Beverage Retailer Beverage & Food Convention and Trade Show
The 10th China International Exhibition on Beverage, Brewery and Wine Technology
Ale Street News' Ultimate Belgian Tasting
WORLD GRAIN CONFERENCE BANGKOK.
WorldFood / AgroWorld Uzbekistan International Exhibition 'Food Industry and Agriculture.
Brew and Beverage Industry - Beer Auction International Trade Fair

April 2006:
2006 Australian International Beer Awards
Helsinki Beer Festival 2006
Craft Brewers Conference & BrewExpo America 2006
BEER. WINES & DRINKS International Beer, Wine and Spirits Manufacturing Exhibition. Belarus
Wine & Spirits Asia International Exhibition of Wine, Spirits and Beer
Hevelius International Beer Festival - Beverages and Gastronomy Devices Fair

More events are available on site e-malt.com
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