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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
Scientific Digest
Theoretical malt prices
Malting barley prices
Table of the week
Graph of the week
Agenda
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Average market prices
Change trend

24 Apr - 26 Apr 2006
Crop 2005
2rs Barley €117.00-119.00   
6rw Barley €104.00-106.00   
2rs Malt €247.00-249.00   
6rw Malt €230.50-232.50   
Crop 2006
2rs Barley €114.50-116.50   
6rw Barley €105.00-107.00   
2rs Malt €240.00-242.00   
6rw Malt €227.50-229.50   

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 16b, 2006

See this Newsletter!
Newsletter 16a, 2006

See this Newsletter!
Newsletter 15b, 2006

See this Newsletter!
Newsletter 15a, 2006

See this Newsletter!
Newsletter 14b, 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 17a
April 24 - April 26, 2006

Quote of the week

"Science is organized knowledge. Wisdom is organized life."
Immanuel Kant

Currency Rates
Base Currency: Euro, EUR
on 26-April-2006

1 EUR = 1.2395 USD
1 EUR = 0.6937 GBP
1 EUR = 1.4078 CAD
1 EUR = 1.6638 AUD
1 EUR = 142.104 JPY
1 EUR = 2.6297 BRL
1 EUR = 33.9759 RUB
1 EUR = 9.9436 CNY
Base Currency: US Dollar
on 26- April-2006

1 USD = 0.8069 EUR
1 USD = 0.5597 GBP
1 USD = 1.1358 CAD
1 USD = 1.3424 AUD
1 USD = 114.66 JPY
1 USD = 2.1216 BRL
1 USD = 27.4112 RUB
1 USD = 8.0224 CNY

EUR/USD Chart

Equities of the Largest Breweries

Top Industry News
Canada: Brick Brewing reports record annual performance for the year ended January 31, 2006... Click here

Central Asia: Beer drinking in Central Asia is on the rise, according to a new survey... Click here

Czech Republic: Beer production for Q1 on rise by of 6 % year-on-year... Click here

UK: Scottish & Newcastle launches new distribution joint venture with Kuehne + Nagel for UK... Click here

China: InBev declined commenting reports on its plans to get a 20 % stake in Yanjing Brewery... Click here

Russia: Russky Solod attracted a credit of EUR 10 million... Click here

Ukraine: In March the production of malt in Ukraine grew by 11%.... Click here

Canada: Research seeks to enhance malting barley quality... Click here

USA: The 2006 sold ahead position for the US hop industry is up 9 points from the 2005... Click here

More News
Belgium: InBev dividend 2006: 0.48 euro per share ... More Info

Czech Republic: Kralovsky Pivovar Krusovice ups profit by over CZK 46 million in 2005 ... More Info

Italy & UK: Carlsberg UK partners with Italian firm Simonazzi ... More Info

Mexico: Grupo Modelo brewer approves 1.25 peso dividend ... More Info

Czech Republic: Budějovicky Budvar victorious in the first dispute round with Czech Olympic Committee ... More Info

Belgium: InBev to reinvigorate sales in traditional markets ... More Info

USA: Credit rating agency downgrading Cargill outlook ... More Info

Japan: Aeon will maintain third-category beer prices after a hike in liquor taxes ... More Info

Belgium: Belgian regulators to probe InBev brewing giant ... More Info

UK: Brewery Hall and Woodhouse to pay a of GBP 20,000 fee for river pollution ... More Info

India: Beer prices up on taxes ... More Info

UK: Royal seal of approval for Kent brewer's sustainable development practices ... More Info

Lithaunia: Kalnapilio-Tauro Grupe managed to triple exports for first quarter year-on-year ... More Info

USA: Idaho Barley Commission sponsors food barley speaker at annual Idaho Dietetics Convention ... More Info

India: Good strategic decision for SABMiller to move in India ... More Info

UK: The tax relief for small breweries has led to an increase in their number ... More Info

Uganda: Barley as a grain of wealth in Uganda ... More Info

India: After 13 years of research and development United Breweries develops new barley seed ... More Info

Canada: Russell Breweries Inc announces engagement of corporate development consultancy ... More Info

China: Nomura keeps "buy" rating on Kingway Brewery ... More Info

UK:Shepherd Neame is making its Whistable Bay available on draught ... More Info

USA: Montana barley producers to plant less barley this year ... More Info

USA: Tumwater buys water rights at the old Miller brewery ... More Info

UK: St. Peter's Brewery wins special award for international trade ... More Info

UK: Marston’s Pedigree ale nominated to become an official Icon of England ... More Info

USA: Rumors around Rolling Rock,Brewery ... More Info



Brewery News
Canada: Brick Brewing reports record annual performance for the year ended January 31, 2006

Brick Brewing Co. Limited released on April 25 its record annual results for the year ended January 31, 2006. Beer volumes up 39%, Net income increases to record $4.8 million for the year ended January 31, 2006.

"We are very pleased with the progress of our business and the resulting record annual financial performance for the Company," said Jim Brickman, Executive Chairman and Founder. "The continued shift in the industry towards value continues to provide Brick with the opportunity for further sustained growth and profitability," Brickman added.

Doug Berchtold, President and CEO said: "While the fourth quarter was a challenge financially due to the myriad of operational improvements underway we expect that the changes being made to reshape our operations will reduce structural operating costs and allow us to better execute in both the manufacturing and distribution of our products. We will continue to sustain our aggressive focus on reducing structural operating costs while improving the availability of our products."

Fourth Quarter Financial Highlights

Quarterly Comparison

- Net revenue for the fourth quarter ended January ...
More Info


Central Asia: Beer drinking in Central Asia is on the rise, according to a new survey

From 2002 to 2005, beer consumption in Turkmenistan grew by a staggering 177 %. Other Central Asian countries are not far behind. Kyrgyzstan has shown a 112 % increase, Kazakhstan a 75 % increase, and Tajikistan a 71 % rise. The figures were released by a recent market-research report in Central Asia and the Caucasus carried out by the beer-market consultancy Plato Logic, AFP communicated on April 25.

"Clearly, market research in countries like Kazakhstan, Uzbekistan, Turkmenistan, is at a lower level of sophistication than it is in, say, Russia or China," Simon Silvester, an executive director in charge of beer markets at Young & Rubicam Europe, a marketing and communications group in London says. "But I've seen massive volume growth in both Russia and China in terms of the beer market, and all the indications are that in Kazakhstan, in Turkmenistan, in Uzbekistan, beer is on a steady upward growth curve."

Silvester says he is not surprised at this shift in drinking habits, as the countries involved are rapidly shaking off their image of traditional societies. He says their lifestyle and habits are becoming more European.

"We have to, I think, accept that even though we may like these traditional ...
More Info


Czech Republic: Beer production for Q1 on rise by of 6 % year-on-year

Czech brewers produced 3.98 million hectolitres of beer in Q1, a growth of 6 % from a year ago, director of the Czech Brewing and Malting Association Jan Vesely told CTK on April 25, according to The Prague Daily Monitor.

Data on Czech beer sales abroad are not available yet but in view of the long and severe winter in the country exports may have been the driving force of the growth, said Vesely. Weather has a great effect on beer sales.

Last year, domestic beer sales fell by 5 % in Q1 against 2004, and the very cold February was the reason.The decline was not offset by exports, and Q1 output was down 2 % year-on-year in 2005.

This year, beer output increased by 3.1 % in January, by 7.1 % in February, and by 6.7 % in March.Beer exports totalled 3.1 million hectolitres last year, a growth of 17 % from 2004.Overall, Czech beer output totalled 19.07 million hectolitres, and was up 1.7 %. Exports accounted for 16 %, compared to the world average of 6 %.


UK: Scottish & Newcastle launches new distribution joint venture with Kuehne + Nagel for UK

Scottish & Newcastle (S&N) announced on April 25 a new joint venture with the global logistics business, Kuehne + Nagel. The venture will be formed by consolidating the relevant UK distribution assets of both companies, creating the biggest and best-invested drinks logistics business in the UK.

The joint venture will contract Kuehne + Nagel to provide all S&N UK’s primary and secondary distribution activities for an initial period of 10 years. To fulfil this contract, Kuehne + Nagel will form a new division, KN Drinks Logistics (KNDL).

The current distribution network will be opened up to new business, whilst continuing to guarantee the present supply chain to S&N’s existing customers. The experience of a global logistics partner will be instrumental in leveraging the existing cost base. Management of KNDL will be incentivised on growth targets to develop the new business.

As a result of the formation of the joint venture S&N expects annual cost savings of GBP 5m in 2007 and will receive a net consideration of around GBP30m from the joint venture.

All current employees, c1,000 working for Kuehne + Nagel in primary distribution and 1,900 working for S&N UK in secondary distribution, will transfer into KNDL.

Stephen Glancey, S&N Group Operations Director ...
More Info


China: InBev declined commenting reports on its plans to get a 20 % stake in Yanjing Brewery

The global brewing giant InBev refused to comment on reports it is planning to acquire a 20 % stake in China's Yanjing Brewery, AFX reported on April 21.

KBC Securities cited Chinese reports that the acquisition price would be around 285 mln usd, or 70 eur per hectolitre. Yanjing is one of China's largest beer producers behind market leader Tsingtao Brewery Co Ltd.

The industry analysts commented that that Yanjing is one of the last big brewers not to have an international partner.

In January 2006, InBev acquired Fujian Sedrin, the largest brewer in the southeastern Chinese state of Fujian, for EUR 614 million.

Malt News
Russia: Russky Solod attracted a credit of EUR 10 million

The largest Russian malting company, ОАО "Russky Solod", controlled by Avangard Bank (Russia), has attracted a credit of EUR 10 million. The credit is granted by Standard Bank for a period of 4 years. The purpose of the loan is to refinance credits extended by Avangard Bank for the construction of malting plant in Orel town. This year Russky Solod attracted EUR 25 million from western financial companies.

“Russky Solod" is the biggest producer of Pilsen malt in Russia and one of the largest in Europe. The company owns three malting plants in Moscow, Orlovsk and Voronej regions. The total production comes to more than 300,000 tonnes of malt per year.


Ukraine: In March the production of malt in Ukraine grew by 11%.

In March 2006, according to the statistical data, Ukrainian enterprises produced 34.3 thousand tonnes of malt, which is a higher output level by 11% than that of February 2006.

In comparison with March 2005 the volume of malt production increased by 5.3 thousand tonnes (by 18%).

For the 9 months of 2005/06 the malt production in Ukraine was of 281.7 thousand tonnes. In the same period of 2004/05 there were produced 222 thousand tonnes of malt.

Barley News
Canada: Research seeks to enhance malting barley quality

The CWB and the Alberta Barley Commission (ABC) have announced recently support for important projects aimed at improving malting barley quality through field agronomy studies and research towards fusarium-resistant barley varieties.

Scientists from the Agriculture and Agri-Food Canada (AAFC) Research Centre in Lacombe, Alberta are coordinating a malting barley research project at sites across western Canada. The CWB and ABC will jointly contribute $260,000 over four years. The project is also supported by Rahr Malting and the Government of Canada.

The project, run in collaboration with the Canadian Grain Commission's Grains Research Laboratory, will evaluate the impact of agronomic management practices on malt quality. The goal is to provide farmers with practical information on how to optimize yield and quality for selected malting barley.

"This is very important because of its potential to increase supplies of selectable malting barley in Western Canada," said Earl Geddes, CWB vice-president of Product Development and Marketing Support. "That will be a great asset to marketing efforts -- with the ultimate goal of putting more money in the pockets of Prairie barley producers."

ABC general manager Mike Leslie said: "The Alberta Barley Commission is proud to support this type of agronomic research as it will advance the interests ...
More Info

Hops News
USA: The 2006 sold ahead position for the US hop industry is up 9 points from the 2005

The 2006 sold ahead position for the US hop industry is up nine points from the 2005 position, United States Department of Agriculture posted on March 27, 2006. The following years’ positions are mostly higher than the 2005 survey, but lower when compared with preceding surveys.

US sold ahead position for 2006 crop is 40,178,989 pounds of hops (75.93 % of crop); for 2007 crop 20,327,911 pounds (28.42%) for 2008 14,034,657 pounds (26.52%); for 2009 8,767,139 pounds (16.57%)

The survey data are reported by hop growers from Idaho, Oregon and Washington. Data from the survey are used to calculate a percentage and quantity of the US hop crop sold for 2006, and following years.

Scientific Digest
Relationship between malt qualities and ß-amylase activity and protein content as affected by timing of nitrogen fertilizer application
CHEN Jin-xin, DAI Fei, WEI Kang, ZHANG Guo-ping (Department of Agronomy, Zhejiang University, Hangzhou 310029, China)

Abstract: The effects of different timing of N fertilizer application at the same rate on grain ß-amylase activity, protein concentration, weight and malt quality of barley were studied. Grain ß-amylase activity and protein concentration were significantly higher in treatments where all top-dressed N fertilizer was applied at booting stage only or equally applied at two-leaf stage and booting stage than in the treatment where all top-dressed N fertilizer was applied at two-leaf age stage only. On the other hand, grain weight and malt extract decreased with increased N application at booting stage. There were obvious differences between barley varieties and experimental years in the grain and malt quality response to the timing of N fertilizer application. It was found that grain protein concentration was significantly and positively correlated with ß-amylase activity, but significantly and negatively correlated with malt extract and Kolbach index. The effect of grain protein concentration on malt quality was predominant over the effect of grain ß-amylase activity. Journal of Zhejiang University SCIENCE B
Key words: Barley, Nitrogen fertilizer, ß-amylase, Malt quality
... Load full article, 6 pages, 290 Kb, PDF file


Malting barley prices. French barley prices.
Nominal prices.

EURO = USD 1.2395 April 26, 2006 
 Crop year   2005   2006 
 Parity   FOB Creil   FOB Creil 
 Position   July 2005   July 2006 
Type   Variety  EURO  USD  EURO  USD 
2RS  Scarlett  122.00  151.50  118.00  146.50 
2RS  Prestige  119.00  147.50  117.00  145.50 
2RS  Cellar  117.50  146.00  115.00  142.50 
2RS  Sebastien  117.00  145.50  114.50  142.00 
2RS  Astoria  116.00  144.00  114.50  142.00 
2RS  Cork   115.00  142.50  114.00  141.50 
6RW  Esterel   105.00  130.50  106.00  131.50 
Theoretical malt prices.
  EURO = USD 1.2395 April 26, 2006 
Crop year  2005 
Parity  FOB Antwerp 
Position  Apr 2006-Sept 2006 
Conditioning  Bulk   In bags  Bulk containers Bags, containers
Malting barley variety  EURO  USD  EURO  USD  EURO  USD  EURO  USD 
2RS  Scarlett  253.00  313.50  267.50  331.50  267.50  331.50  282.00  349.50 
2RS  Prestige  249.50  309.00  263.50  327.00  264.00  327.00  278.50  345.00 
2RS  Cellar  247.50  307.00  262.00  324.50  262.00  324.50  276.50  342.50 
2RS  Sebastien  247.00  306.00  261.50  324.00  261.50  324.00  276.00  342.00 
2RS  Astoria  245.50  304.50  260.00  322.50  260.00  322.50  274.50  340.50 
2RS  Cork   244.50  303.00  259.00  320.50  259.00  321.00  273.50  338.50 
2RS   Average price  248.00  307.50  262.50  325.00  262.50  325.00  276.50  343.00 
6RW  Esterel   231.50  288.00  246.50  305.50  246.50  305.50  261.00  323.50 
Asia Malt 70/30  243.50  301.50  257.50  319.00  257.50  319.50  272.00  337.00 
**  Asia Malt 50/50  240.00  297.50  254.50  315.50  254.50  315.50  269.00  333.50 

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

Table of the week

The Black Sea Barley Market

Barley production, in million tonnes
Country  2005/06  2004/05 
Ukraine  8.8  10.6 
Russia  15.8  17.2 
Kazakhstan  1.8  1.6 
Romania  1.1  1.4 
Bulgaria  0.62  1.18 
Moldova  0.3  0.26 
Total Black Sea  28.42  32.24 
Barley exports, in million tonnes
Ukraine  3.8  4.3 
Russia  1.5  1.1 
Kazakhstan  0.15  0.1 
Romania  0.1  0.2 
Bulgaria  0.2  0.42 
Moldova  0.15  0.13 
Total Black Sea  5.9  6.25 

Newsletter SummaryTop
Graph of the week


Agenda
April 2006:
Gitchee Gumee Brewfest More than 120 beers from over 30 Upper Midwest brewers
Classic City Brew Fest Mini-festival this year because of venue problems
Master of Beer Styles & Evaluation program The Master of Beer Styles
4TH BREWING RAW MATERIAL SEMINAR (ROHSTOFFSEMINAR) Dealing with market and scientific topics
Newcastle Beer Festival Organized By: Tyneside & Northumberland Branch, Campaign for Real Ale
2006 Australian International Beer Awards
Helsinki Beer Festival 2006. April 7-8, 2006
Okanagon Fest-of-Ale British Columbia's second-largest festival
Taming of the Brew Beer from nearly 20 breweries and distributors
World Beer Cup Competition Judging
BREWER 2006
Craft Brewers Conference & BrewExpo America 2006
BEER. WINES & DRINKS International Beer, Wine and Spirits Manufacturing Exhibition
World Beer Cup Gala Awards Dinner
Spring Beer & Wine Festival
Planet Thanet Ale Festival
Stuttgart Spring Festival
Dunstable Beer Festival
Spring Festival Held on the same Oktoberfest grounds
Peoria Jaycees International Beer Festival
Best of the Midwest Brewers Festival Historic setting
Great Brews From Around the World Beer
City Paper Brew Fest Beer from more than 40 microbreweries
Hickory Hops Brew Festival
Wine&SpiritsAsia International Exhibition of Wine
Reading Beer Festival Organized
Stourbridge Beer Festival
Chippenham Beer Festival
Ballpark Festival of Beers Sampling of 100 to 125 American specialty beers
Reading Phillies Beer Fest Beer
TAP New York 2006 More than 100 beers from New York State craft
Hevelius International Beer Festival - Beverages and Gastronomy Devices Fair
2006 Great Petaluma Chili Cook-off, Salsa, and Beer Tasting Beer


May 2006:
THE 4 th EUROPEAN BEER AND HEALTH SYMPOSIUM
10th Annual Boonville Beer Festival
BIG BREW National Homebrew Day website
Great Japan Beer Festival
Beer Baron's World of Beer
TwinTrack Brewing Microbiology Program
Rugby Beer Festival
Australian International Beer Awards Beer Festival
Long Island Beer Festival Hundreds of beers from nearly 70 breweries
Calgary Brewfest 2006 Beer from Calgary
ALCO + SOFT International Specialized Exhibition of Drinks
Beer International Brewing Technology Exhibition
Iran food and drink tec International Food, Drink and Packaging Technology Trade
Mondial de la Biere Windsor Station & Courtyard


June 2006:
ProPak Asia International Food and Drink Processing and Packaging Technology Exhibition
BevTech / BrewTech International Exhibition of Beverage and Brewary Processing and Packaging
IGC GRAINS CONFERENCE 2006
For conference sponsorship opportunities
National Homebrewers Conference
Beer festival - 2006 St.Petersburg


More events are available on site e-malt.com
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