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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
Table of the week
Graph of the week
Agenda
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Average market prices
Change trend
20 Feb - 22 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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Newsletter 06a, 2006
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Newsletter 05b, 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 08a
February 20 - February 22, 2006
Quote of the week

"Success is the proper utilization of failure."
unknown

Currency Rates
Base Currency: Euro, EUR
on 21-February-2006

1 EUR = 1.1948 USD
1 EUR = 0.6854 GBP
1 EUR = 1.374 CAD
1 EUR = 1.6139 AUD
1 EUR = 141.205 JPY
1 EUR = 2.5355 BRL
1 EUR = 33.6435 RUB
1 EUR = 9.6171 CNY
 Base Currency: US Dollar
on 21-February-2006

1 USD = 0.8372 EUR
1 USD = 0.5737 GBP
1 USD = 1.15 CAD
1 USD = 1.3508 AUD
1 USD = 118.203 JPY
1 USD = 2.1221 BRL
1 USD = 28.1581 RUB
1 USD = 8.049 CNY

EUR/USD Chart

Equities of the Largest Breweries

Top Industry News
The Netherlands: Heineken N.V. reports 2005 full year results at the top end of forecast... Click here

Denmark: Carlsberg concentrates production in Fredericia... Click here

UK: Strong performance at Scottish & Newcastle driven by growth in UK and Russia... Click here

Russia: Efes finalizes the acquisition of Krasny Vostok Brewing Group in Russia... Click here

USA: Anheuser-Busch gains Grolsch imports in United States... Click here

Colombia: President of SABMiller Latin America introduces Karl Lippert... Click here

Ukraine: Malt production in January 2005 increased by 35% year-on-year... Click here

Australia: Western Australian barley growers do better than South Australia growers... Click here

More News
Russia: Efes buys out minority stake in Moscow Efes Brewery ... More Info

Germany: Bitburger increased its beer sales abroad ... More Info

Japan: Sapporo Holdings Ltd. plans to invest $592 mln to triple profit by 2008 ... More Info

Brazil: Cervejaria Petropolis is to set two new breweries in the country ... More Info

Romania: One million hl more beer produced in 2005 ... More Info

Czech Republic: Pivovar Nova Paka almost doubles beer exports in 2005 ... More Info

Ireland: Brewery Beamish & Crawford sales increased by 8.6% in 2005 ... More Info

Denmark: Carlsberg announced satisfactory earnings growth for beverage activities ... More Info

Turkey: Fitch maintains rating watch negative status on Anadolu Efes’ local currency rating ... More Info

Ukraine: 50% of winter barley will have to be re-seeded ... More Info

UK: Diageo is for Troon barley variety ... More Info

Czech Republic: Prazdroj asks competing brewers for support on incentives ... More Info

Australia: Meetings for barley growers against ABB Grain monopoly over barley exports ... More Info

Turkey: Anadolu Efes announced the extended guarantee for the bridge facility agreement sourced by EBI ... More Info

UK: Meantime Brewing Company appoints new on-trade sales director ... More Info

Canada & USA: Molson Coors Brewing Company announces quarterly dividend ... More Info

Denmark: Carlsberg Brewery closure under analyst overview ... More Info

Palestine: The only Palestinian brewery launches 'Hamas' nonalcoholic beer ... More Info

Brazil: AmBev is expected to post about 70 % jump in quarterly profit ... More Info

Canada: Big Rock Brewery Income Trust announces monthly distribution ... More Info

Czech Republic: Plzensky Prazdroj launches a new packaging for the best selling Czech beer ... More Info

Ireland: Heieneken increases share of Irish beer market up to 20.5% ... More Info

Australia: Most of AWB Ltd. board should resign ... More Info



Brewery News
The Netherlands: Heineken N.V. reports 2005 full year results at the top end of forecast

Heineken N.V. announced on February 22 its 2005 full year results at the top end of the profit outlook published in February 2005.

Heineken achieved organic growth in all key business metrics in 2005: 2.2% organic growth in Revenues, driven by a more positive price and sales mix, 2.9% organic growth in EBIT (beia) and 7.3% organic growth in Net Profit (beia).

Net Profit (beia) increased by ?37 million to ?840 million, despite a negative currency effect of ?27 million. Net Profit increased to ?761 million.

Cash flow from operations was once again strong and amounted to ?2,213 million. Cash conversion continued at a high level, reaching 120%. In addition, the disposal of non-core assets, mainly the real estate assets acquired with the BBAG business, contributed ?270 million to net cash flow.

Group beer volume grew by 5.3% (from 112.6 million hectolitres to 118.6 million hectolitres) with an improvement in volume trends in the second half of the year.

Volume of Heineken® in the premium segment grew by 4.5% to 20.1 million hectolitres, further strengthening its position as the world’s leading international premium beer brand.

Beer volume of Heineken USA, excluding distribution of the Femsa brands, ... More Info

Denmark: Carlsberg concentrates production in Fredericia

Carlsberg A/S announced on February 21 that all the brewery activities in Valby, Copenhagen, with the exception of Jacobsen brewhouse, are being closed, while the brewery in Fredericia is being future-proofed and expanded at a cost of DKK 800 million into one of Europe’s most modern and efficient. The headquarters of the Carlsberg Group and of Carlsberg Denmark, with a total of more than 800 employees, will remain in Valby. The protected and culturo-historical buildings will be preserved.

Carlsberg is now entering negotiations with employee representatives to bring together the production of beer at the brewery in Fredericia. DKK 800 million will be invested in building a new high-bay warehouse and modernising the brewery, which will be one of Europe’s leading breweries in terms of quality and efficiency.

The production of speciality beers at the Jacobsen brewhouse will continue unchanged in Valby.
The Carlsberg Group and Carlsberg Denmark will still have their headquarters in Valby, and the famous historical buildings will not be affected by the plans. However, Carlsberg will now begin making plans for the future use of part of the 32-hectare site in Valby.

The moving of production will affect around 240 of the 1,050 employees at Carlsberg ... More Info

UK: Strong performance at Scottish & Newcastle driven by growth in UK and Russia

Scottish & Newcastle plc announced on February 21 preliminary results for the twelve months to 31 December 2005

Highlights
• Profits before tax up +9.5% at ?392m
• Revenue at ?3,926m up +4.1%, driven by innovation and brands focus
• Own branded beer and cider grew volumes by +6.1% and net sales by +7.0%
• UK – Sales, market share growth and cost efficiencies drive operating profit growth of
+10.2%
• BBH – continued growth with +12.3% volume and +23.7% operating profit
• International – difficult markets in Continental Europe contribute to a -4.3% fall in operating
profit. Comprehensive action plan for France; strong performance in Portugal.
• ROIC improved to +6.9% from +6.5% in 2004

Commenting on the results Sir Brian Stewart, Chairman, said: ‘I am pleased to report that Scottish & Newcastle achieved its financial objectives for the full year, showing a strong overall performance with comparable operating profit growth of +6.9% and earnings per share up +10.4% despite ongoing difficult conditions in certain local markets. As I said at the half year, economic conditions across our markets have shown considerable variability this year and our success is a reflection of both the increased breadth of our business and of our brands’ strength. As always, the objective is to ... More Info

Russia: Efes finalizes the acquisition of Krasny Vostok Brewing Group in Russia

Efes Breweries International N.V. (EBI), the Holland based 70% subsidiary of Anadolu Efes, announced on February 21 that it has completed the acquisition of the Krasny Vostok Brewing Group (KV Group) in Russia.

Following the receipt of the necessary regulatory approvals, EBI has paid USD 364 million for 92.34% of the KV Group.

The KV Group has a total annual brewing capacity of approximately 10.0 million hectolitres and operates two breweries located in Kazan and Novosibirsk. The KV Group also owns three malting facilities in Kazan with a total annual production capacity of 93,000 tons. KV Group’s strength lies in the regions east of Moscow: Kazan, Novosibirsk, Ufa, Samara, Perm, Kira and Western Siberia amongst others.

The KV Group’s brand portfolio consists of a mainstream brand “Solodov” and economy brands,
including “Krasny Vostok”, “Zhigulevskoe”, and “Yershistoe”.

EBI increased its total capacity in Russia to approximately 18 million hectolitres and total market share to around 10% through the acquisition of the KV Group, solidifying its #4 position in the Russian beer market. Additionally, total annual malt production capacity of EBI in Russia increased from approximately 46,000 tons to approximately 139,000 tons.

About Anadolu Efes

Anadolu Efes Biracılık ve Malt Sanayii A.Ş. (Anadolu Efes) is the holding company of ... More Info

USA: Anheuser-Busch gains Grolsch imports in United States

Anheuser-Busch announced on February 21 it will become the U.S. importer of the upscale Grolsch traditional European beer brands, giving the American brewer a well-established and popular entry in the growing U.S. import category, the two brewers jointly announced today.

The agreement gives the Dutch brands access to the Anheuser-Busch broad marketing and sales expertise and to its wide reaching U.S. distribution network. The deal is part of an aggressive push by Anheuser-Busch into high-end beer categories.

“Grolsch is a quality, well-known name among American beer drinkers, making it an ideal partner to begin building our import portfolio around,” said Anheuser Busch Inc. President August A. Busch IV. “Together with our wholesalers, we are excited to gain these brands and help them grow with the talents and resources only our team can offer.”

Grolsch Premium Lager, the Dutch brewer’s largest-selling brand, is famous for its distinctive taste, iconic “swing-top” bottle closure and green embossed bottle. The deal also includes the entire Grolsch brand line-up, including the small, but growing Grolsch Amber Ale, Grolsch Light Lager and Grolsch Blonde Lager.

The agreement will broaden Grolsch’s U.S. distribution by giving the Dutch brewer access to the Anheuser Busch network of nearly 600 independent wholesalers, who ... More Info

Colombia: President of SABMiller Latin America introduces Karl Lippert

Bavaria S.A., the largest beverage company in Colombia announced: “One month after his appointment and only ten days after his arrival in Colombia, Bavaria introduced its new President, Karl Lippert, who in a press conference reaffirmed the strategic importance of our country for the SABMiller Group, and in particular for the Latin American region.”

“It is an honour and a great responsibility to join the local directive team, to contribute to the progress of the company and assure Bavaria continues being the pride of the Colombian business world,” assured Lippert in his first local press release. Karl Lippert was introduced by Barry Smith, president of SABMiller for Latin America, who explained the initiatives of SABMiller in the region, based on the brewery’s corporate values. He highlighted aspects such as foreign investment, transfer of skills and knowledge, local talent development, commitment to corporate governance, corporate social responsibility and the promotion of responsible beer drinking.
_
Smith also explained how SABMiller will operate in the region and emphasized on building strengths, adding the experience of other latitudes and adapting the philosophy of the business to local needs and customs, working closely with consumers, costumers and communities.

“These new markets for SABMiller -Colombia, Ecuador, Panama & Peru- ... More Info

Malt News
Ukraine: Malt production in January 2005 increased by 35% year-on-year

In January 2006 Ukraine produced about 35.1 thousand tonnes of malt, a 1% increase compared to December 2005. Compared to January 2005 malt production increased by 35% (+9.1 thousand tonnes), according to APK-Inform reports and Ukrainian Goskomstate.

The leading Ukrainian malt manufactures are: Kharkov based company, Malteurop, with a malt output of 9,300 metric tonnes in January 2006; OAO Slavutsky Malting plant, which produced about 7,200 metric tonnes of malt; Chernigov based unit of Malteurop Ukraine with 4,300 tonnes; Berdichevsky Malting plant and ZAO Obolon Brewery produced more than 4,000 tonnes every.

By the end of January 2006 about 65,200 tonnes of malt were registered in the stocks of Ukrainian malting companies.

For the first 7 months of market year 2005/2006 Ukraine malt production increased by 30.1% year-on-year from 166.4 thousand tonnes in July 2004-January 2005 to 216.5 thousand tonnes in July 2005-January 2006.

Barley News
Australia: Western Australian barley growers do better than South Australia growers

Western Australian barley growers have received up to A$20 a tonne more for their grain than their South Australian counterparts, Australia & NZ News communicated on February 20. The WA system of grain handling allows multiple companies to export grain rather than the single desk system operated by ABB in South Australia.

Independent agribusiness consultant Ron Story says growers in Western Australia usually get better returns from cheaper handling and shipping costs.

But he says the gap between states was even higher this year. "On the facts, there have been higher prices available for a period of time, not the entire season but a period of time from the impact of having other exporters in the market," he said.


Malting barley prices. French barley prices.
Nominal prices.

EURO = USD 1.1948 February 21, 2006 
 Crop year   2005   2006 
 Parity   FOB Creil   FOB Creil 
 Position   July 2005   July 2006 
Type   Variety  EURO  USD  EURO  USD 
2RS  Scarlett  117.00  140.00  119.00  142.50 
2RS  Prestige  115.00  137.50  118.00  141.00 
2RS  Cellar  115.00  137.50  118.00  141.00 
2RS  Sebastien  114.00  136.50  117.50  140.50 
2RS  Astoria  113.50  136.00  116.00  138.50 
2RS  Cork   114.50  137.00  117.00  140.00 
6RW  Esterel   103.00  123.50  105.00  125.50 
Theoretical malt prices.

  EURO = USD 1.1948 February 21, 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  246.00  293.50  260.00  311.00  260.50  311.00  262.50  313.50 
2RS  Prestige  243.50  290.50  257.50  308.00  257.50  308.00  260.50  311.00 
2RS  Cellar  243.50  290.50  257.50  308.00  257.50  308.00  260.50  311.00 
2RS  Sebastien  242.00  289.50  256.50  306.50  256.50  306.50  259.00  309.50 
2RS  Astoria  241.50  288.50  256.00  305.50  256.00  305.50  258.50  308.50 
2RS  Cork   242.50  290.00  257.00  307.00  257.00  307.50  259.50  310.00 
2RS   Average price  243.00  290.50  257.50  307.50  257.50  307.50  260.00  310.50 
6RW  Esterel   227.50  273.00  243.00  290.50  243.00  290.50  245.50  293.50 
*  Asia Malt 70/30  239.00  285.50  253.00  302.50  253.50  302.50  255.50  305.50 
**  Asia Malt 50/50  236.00  282.00  250.50  299.00  250.50  299.00  252.50  302.00 

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

Table of the week

Canada: Barley Supply and Disposition

  2004-2005   2005-2006 f  2006-2007 f 
  Harvested area, '000 ha 4,050  3,889  4,210 
  Yield, tonne/ha  3.26  3.21  3.06 
  Production, '000  metric tonnes 13,186  12,481  12,900 
  Imports, '000 metric tonnes 83  35  30 
  Total Supply, '000 metric tonnes 15,371  16,005  16,030 
  Exports, '000 metric tonnes  1,863  2,500  2,300 
  Food & Industry Use, '000 metric tonnes 268  260  300 
  Feed, Waste, Dockage, '000 metric tonnes 9,358  9,740  10,785 
  Total Domestic Use, '000 metric tonnes 10,019  10,405  11,530 
  Carry-out Stocks, '000 metric tonnes 3,489  3,100  2,200 
  Average Price, CA$/tonne 112  100-120  115-135 


f: forecast, Agriculture and Agri-Food Canada, February 14, 2006
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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