Colombian brewer Bavaria posted net profit July 31 of 168.6 billion pesos ($64 million) for the first half of 2006 as lower costs helped it reverse a loss of 38.2 billion pesos in the same period last year, Reuters released August 01.

The unit of London-based SABMiller said in a statement that net revenue rose 12.3 percent from a year earlier to 1.36 trillion pesos (516.5 million).

Sales volumes rose 7.9 percent in the first semester from a year earlier thanks to a stronger Colombian economy and more investment in its brands.

In the first quarter of 2006, the company - which said its results were also helped by recent exchange rate fluctuations - had posted a loss of 31.05 billion pesos. ($1 = 2,633 pesos)

Malt prices have moved up sharply over the past months, market analysts commented on August 1. In domestic markets maltsters had concluded contracts in 2005 for delivery in 2006 at levels of € 230,-/240,- delivered breweries. Initial contracts this year for 2007 were done at prices of € 260,-/265,-, but meantime offers are around € 280,-/285,-.

Based on an average barley price of € 155,- for the crop year and € 80,- malting margin, that does not even give the maltster a real profit. Export prices for 2rs malt are € 280,-/285,- FOB seaport in bulk in vessel and € 15,- to 20,- more in bulk in container.

“Russky Solod Malt Company, member of the Avangard Bank Holding delivered more than 60,000 t malt to its brewery customers during July, 2006, two times more than in the same period last year. Totally, more than 150,000 t malt was supplied to the brewery clients in the period May – July, 2006, the company released July 31.

“This unusual vast growth in light brewing malt consumption is a result of significant growth of beer production due to an abnormally warm early summer and problems on the hard liquor market” said OAO “Russky Solod Board Chairman, Kirill Minovalov”.

At present two of the three malting plants of the company have ceased production to undergo maintenance work as quality raw material for malt production is currently not available. Production is planned to be resumed when new crop barley will arrive to the plants.

“Russky Solod Malt Company is the largest in Russia and one of the largest producers of light brewing malt in Europe.

Raisio Nutrition’s sales volume of malt improved by 60 per cent over 2Q of 2006, but prices were lower, Raisio Plc, the Group which carries out activities through 3 divisions: Raisio Chemicals, Raisio Nutrition and Raisio Life Sciences, released on August 01 in its interim report as of June 30 2006.

Most of the growth of malt sales came from export. While both competition and pricing remained stiff, small signs of improvement are detected.

Raisio Nutrition's operating result including a one-off income item of EUR 1.8 million amounted to EUR 1.2 million (EUR 3.2 million) in April–June. Operating result in January–June was EUR - 0.2 million (EUR 5.8 million).

Raisio Nutrition's turnover in April–June totalled EUR 101.0 million (EUR 98.4 million). Turnover increased in the Polish and Russian food businesses and in the malt business. Raisio Nutrition's turnover in January–June totalled EUR 186.6 million (EUR 184.2 million).

Local barley prices in southern Idaho were mostly up ranging from 10 cents to 25 cents higher while prices in northern Idaho remained unchanged. USDA showed net export sales last week of 25 TMT, all for unknown destinations. No exports were reported during the week, the Idaho Barley Commission (IBS) released in its Weekly Market Report of July 27.

The EU Grains Management Committee did not receive any bids this week for licenses to export free-market barley, and rejected bids to export intervention barley stocks. Japanese buyers purchased a total of 215.9 TMT of feed barley SBS import tender oh July 26, with 20 TMT estimated to be sourced from the U.S.

IBC is a self-governing agency of the State of Idaho that serves to enhance the profitability of the Idaho barley growers through research, market development, promotion, information and education. This is accomplished by identifying and fully utilizing available resources and organizations to promote and further develop the barley industry in the state of Idaho.