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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

13 Feb - 15 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   
6rw Barley €104.00-106.00   
2rs Malt €242.50-244.50   
6rw Malt €226.50-228.50   

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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Other e-malt.com newsletters

Last five newsletters
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Newsletter 06b, 2006

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Newsletter 06a, 2006

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Newsletter 05b, 2006

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Newsletter 05a, 2006

See this Newsletter!
Newsletter 04b, 2006

See this Newsletter!
Newsletter 04a, 2006



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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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 07a
February 13 - February 15, 2006

Quote of the week

"Beer is a jumper, the teeth are its stairs."
Sumerian Proverb

Currency Rates
Base Currency: Euro, EUR
on 14-February-2006

1 EUR = 1.1900 USD
1 EUR = 0.6832 GBP
1 EUR = 1.3741 CAD
1 EUR = 1.6136 AUD
1 EUR = 140.261 JPY
1 EUR = 2.5764 BRL
1 EUR = 33.5778 RUB
1 EUR = 9.5788 CNY
Base Currency: US Dollar
on 14-February-2006

1 USD = 0.8406 EUR
1 USD = 0.5741 GBP
1 USD = 1.1547 CAD
1 USD = 1.3559 AUD
1 USD = 117.886 JPY
1 USD = 2.1652 BRL
1 USD = 28.2178 RUB
1 USD = 8.0497 CNY

EUR/USD Chart

Equities of the Largest Breweries

Top Industry News
Australia: Foster’s first half earnings up 10.5% thanks to beer sales... Click here

Russia & Ukraine: BBH announced another year of strong volumes and profit growth... Click here

China: Kingway Brewery aims over 30% jump in beer sales... Click here

Bulgaria: Beer sales increased 36% in January this year... Click here

Turkey: Efes mandated Citigroup for a debt finance package with USD 500 million... Click here

EU: Malt export licence fixations to-date show changed sources of exports... Click here

Australia: Barley production for 2005-06 is estimated by ABARE to increase by 28%... Click here

Canada: Barley outlook by AAFC as of February 14... Click here

More News
Russia: Heineken started to produce Zlaty Bazant beer in Russia ... More Info

EU: Will barley growing be maintained at the same level without the backbone of intervention? ... More Info

UK: Cobra Beer is eyeing four breweries in all the four regions of the country ... More Info

UK: Broker Merrill Lynch has raised a glass to brewer Scottish & Newcastle ... More Info

Turkey: Turkey has returned as a net barley exporter for the first time in 3 years ... More Info

UK: British Beer & Pub Association comments on outcome of smoking vote ... More Info

Ireland: Lactic acid bacteria from malting and brewing to reduce mycotoxins in grains ... More Info

EU: Barley crop forecasts for 2006 and estimates of malting barley shares ... More Info

EU: Merrill Lynch on European Brewers ... More Info

Australia: Total Fire Bans for 16th Feb 2006 ... More Info

EU: Over the past 6 years, the “intra-trade” for barley has averaged about 350,000 tonnes ... More Info

India: United Breweries and Scottish & Newcastle to buy 20% more in Millennium Alcobev ... More Info

USA: "Alcopops" to be classified for tax purposes as beer or distilled spirits: debates ... More Info

USA: Avenue A | Razorfish Tapped as Coors Brewing Company's Interactive Agency of Record ... More Info

Canada: Steelback Brewery C.E.O. appointed Ian Macdonald as Senior Vice President of Sales ... More Info

India: Beer output is on rise ... More Info

USA: Budweiser waves green flag for sponsorship of Daytona International Speedway ... More Info

China: Neutron's Shanghai Manufacturing partner ships Ultra-Glo Units to Heineken(R) ... More Info

USA: Beverage importer Gambrinus will promote Mexican Beer Corona ... More Info

India: United Breweries Holdings sells 74 % stake in United National Breweries of SA ... More Info



Brewery News Brewery News
Australia: Foster’s first half earnings up 10.5% thanks to beer sales

Foster's Group Ltd., Australia's biggest alcoholic drinks company, announced on February 14 a 10.5 percent rise in first-half normalised net profit thanks to strong domestic beer sales and cost savings from its Southcorp wine acquisition, according to Reuters.

The company's net profit for the six months to Dec. 31 was A$333.3 million, up from A$307.1 million, excluding discontinued businesses, significant items, amortization and an accounting charge.

But it warned of intense competition, especially in wine sales in Britain and Australia, where producers are battling an oversupply caused by recent record grape harvests, and its shares fell 3 percent even though it maintained its full-year forecasts.

Investors were worried by weakness in the Rosemount brand, acquired last year when Foster's paid A$3.2 billion ($2.4 billion) for Australia's Southcorp, becoming the world's second-largest wine company after U.S.-based Constellation Brands Inc.

"The Australian wine industry remains a problem spot for Foster's and that won't be resolved for a little while yet. Apart from that, most of the other commentary was in line with previous commentary from the company," Shaw Stockbroking analyst Scott Marshall said.

Southcorp added the Penfolds, Rosemount Estate and Lindemans brands to Foster's existing wine range, led by Beringer and Wolf Blass. The company's beers include ...
More Info


Russia & Ukraine: BBH announced another year of strong volumes and profit growth

Baltic Beverages Holding AB (BBH) announced on February 14 its full year and fourth quarter 2005 results:

• Total volume growth of 12% to 4153 ML
• Russian market share of 36.3%, up 2.1%pts
• Net sales (EUR) up 21%
• EBIT (EUR) up 26%
• Progress on integration plans in Russia
• Dividend payout of 115MEUR (+15%)


CONFIDENCE IN CONTINUED PERFORMANCE IN 2006
The company said: “We expect the Russian market to grow at 3-5% in the medium term and we aim to gain value share within this market, while achieving price increases just below the local food and beverage price inflation. Having seen an outstanding margin improvement in 2005 we believe that margins in 2006 will be stable at around 20%. “

STRONG BEER VOLUME GROWTH THROUGHOUT THE GROUP

BBH significantly outperformed the Russian market in 2005, on average growing at twice the market rate and in doing so growing market share in Russia by 2.1%pts. BBH remains the clear market leader in Russia with strong positions across all market segments.

Improving trend in Ukraine
With market growth of 25%, Ukraine has further established itself as one of the largest and most vibrant European beer markets. It continues to grow strongly from a comparatively low per capita consumption level and ...
More Info


China: Kingway Brewery aims over 30% jump in beer sales

Kingway Brewery Holdings Ltd. is planning to sell 700,000 tonnes of beer in 2006, a jump of more than 30% from 2005, its top executive said on February 13, according to Reuters.

Kingway, a major brewery in affluent southern China, sold 35% more beer in 2005, Chairman Ye Xuquan told reporters from their headquarters in the city of Dongguan. The company has previously said it sold 390,000 tonnes in 2004.

Shenzhen's leading regional beer maker Kingway Brewery will continue investing in new factories to support steady growth in beer sales, according to Asia Pulse News.

The Chairman of the Company, Mr.Ye Xuquan said on February 13 that the company plans to spend 390 million yuan (US$48.1 million) for a new brewery in Southwest China this year. That plan is awaiting board approval by the end of the week. The company also announced it had invested another 800 million yuan (US$98.6 million) in the second phase of the newly operated brewery, which will at least double the current production capacity upon completion.

“The company hopes such moves will help maintain a growth rate of 35 per cent and a two-digit profit surge. The new investment destination will most likely be Chengdu, capital of ...
More Info


Bulgaria: Beer sales increased 36% in January this year

Domestic beer sales of Bulgaria increased by 36% year-on-year to 158,166 hectolitres in January 2006, according to the figures released by Union of Brewers in Bulgaria (UBB), Dnevnik News posted on February 14.

Heineken-owned Zagorka AD outperformed its rival Kamenitza AD in January 2006, selling 57,264 hl versus 54,815 hl for its InBev-owned competitor. Carlsberg Bulgaria moved 30,847 hl for the no.3 spot in January.

Locally-owned Boliarka VT reported sales of 12,420 hl in January on top of 378,223 hl for the entire 2005. Among the smaller UBB members, Lomsko Pivo reported January sales of 2,259 hl while Agrima posted 561 hl.

Kamenitza topped the 2005 market with 1,448 mln hl ahead of Zagorka with 1.415 mln hl. Carlsberg Bulgaria was a solid third with 887,063 hl.

Locally-owned beer makers Ledenika and MM do not report sales to the UBB.


Turkey: Efes mandated Citigroup for a debt finance package with USD 500 million

Anadolu Efes Biracılık ve Malt Sanayi A.Ş. (“Anadolu Efes”) and its 70% owned Dutch subsidiary Efes Breweries International (“EBI”) announced on February 14 that they have jointly mandated Citibank N.A. and Citigroup Global Markets Limited (together “Citigroup”) and HSBC Bank plc, collectively, for a debt finance package with a total amount of USD 500 million.

The proportion by which Anadolu Efes and EBI will share the financing package is yet to be determined.

The proceeds from the financing package are intended to be invested in EBI’s organic and inorganic growth plans, including the funding of the purchase of the Russian based Krasny Vostok Brewing Group shares about which EBI recently disclosed its intention by its entry into a Share Purchase Agreement.

Malt News
EU: Malt export licence fixations to-date show changed sources of exports

Malt export licence fixations to-date show a large plus for Belgium versus last year, increases also for the Netherlands and Sweden, and much reduced figures for France, Germany and the U.K. These figures are an indication of changed sources of exports, not exact though, because certificates are freely usable all over the community, market analysts have recently commented.

Inside multinational groups, especially between France and Belgium, export licences booked in one country are probably also used in the other one. But nevertheless there is a message: seaboard maltsters gain volume in the export business. For many maltsters in the inland it can only mean to follow the path shown by their British colleagues and concentrate more on domestic markets. But also there the increasing cost of traffic and the unreliability of water levels in the big rivers make sales over long distances less attractive.

Barley News
Australia: Barley production for 2005-06 is estimated by ABARE to increase by 28%

Production of barley, one of the major winter crops, for 2005-2006 is estimated by ABARE at 9.8 million tonnes, an increase of 28 % from the previous season, ABARE (Australian Bureau of Agricultural and Resource Economics) posted on February 14 in its latest Crop Report. Wheat production is estimated to have increased by 11 per cent from the 2004-05
harvest.

New South Wales
According to ABARE, despite the late start to the season, total production in New South Wales is estimated to have increased significantly to 2.2 million tonnes in 2005-06. Grain quality has been reported to be good to excellent in southern and central areas of the state, with increased receivals of malt grade barley compared with previous seasons. In the north of the state, drier conditions resulted in reduced yields and poorer quality, with receivals of malt grade barley significantly less than 2004-05.

Victoria
Barley production is estimated to have reached 2.1 million tonnes in 2005-06, 61 per cent more than in 2004-05. Increased production reflects improved seasonal conditions and a marginal increase in the area planted.

Queensland
Production of barley is estimated to have increased by 33 per cent to 259 000 tonnes in 2005-06. The increased production reflects an increased area sown ...
More Info


Canada: Barley outlook by AAFC as of February 14

For 2005-06, exports are forecast by Agriculture and Agri-Food Canada (AAFC) to increase by 34%, driven mainly by higher exports of feed barley. Carry-out stocks are forecast to decrease by 11%, but will be high historically, AAFC posted on February 14 in its Grains And Oilseeds Outlook.

For 2006-07, production is forecast to rise slightly, as lower yields are more than offset by larger area but total supply is projected to rise only marginally due to lower carry-in stocks. Exports are expected to fall, as higher exports of malting barley only partially offset lower exports of feed barley. Carry-out stocks are projected to drop significantly due to higher feed use.

The average off-Board feed barley price is forecast to rise by C$15/t. CWB pool returns are forecast by AAFC to be similar to 2005-06 for Two-Row but decline for Six-Row designated barley.


Malting barley prices. French barley prices.
Nominal prices.

EURO = USD 1.1900 February 14, 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  138.50  119.00  142.00 
2RS  Prestige  115.00  137.00  118.00  140.50 
2RS  Cellar  115.00  137.00  118.00  140.50 
2RS  Sebastien  114.00  136.00  117.50  140.00 
2RS  Astoria  113.50  135.50  116.00  138.50 
2RS  Cork   114.50  136.50  117.00  139.50 
6RW  Esterel   103.00  122.50  105.00  125.00 
Theoretical malt prices.

  EURO = USD 1.1900 February 14, 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  291.00  259.00  308.00  259.00  308.00  261.50  311.00 
2RS  Prestige  243.50  289.50  257.50  306.50  257.50  306.50  260.50  309.50 
2RS  Cellar  243.50  289.50  257.50  306.50  257.50  306.50  260.50  309.50 
2RS  Sebastien  242.00  288.00  256.50  305.00  256.50  305.50  259.00  308.00 
2RS  Astoria  241.50  287.50  256.00  304.50  256.00  304.50  258.50  307.50 
2RS  Cork   242.50  289.00  257.00  306.00  257.00  306.00  259.50  309.00 
2RS   Average price  243.00  289.00  257.50  306.00  257.50  306.50  259.50  309.00 
6RW  Esterel   227.50  272.00  243.00  289.00  243.00  289.00  245.50  292.00 
Asia Malt 70/30  238.50  284.00  253.00  301.00  253.00  301.00  255.50  304.00 
**  Asia Malt 50/50  236.00  280.50  250.00  297.50  250.00  297.50  252.50  300.50 

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: ABARE, 14 February 2006

Table of the week

USA Breweries as of Dec. 1, 2005

  U.S. Breweries Operating in 2005: 
  Regional Specialty Breweries  57 
  Microbreweries  350 
  Brewpubs  927 
  Total Craft Breweries  1,334 
  Large Breweries  21 
  Regional Breweries  13 
  Total U.S. Breweries  1,368 
 
  2005 U.S. Openings ytd: 
  brewpubs  31 
  microbreweries  18 
 
  2005 U.S. Closings ytd: 
  brewpubs  47 
  microbreweries 
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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