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Newsletter Summary

Currency rates
Equities of largest breweries
Market prices change trend
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
On These Days
Agenda
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Average market prices
Change trend

28 Sept - 29 Sept 2006
Crop 2006
2rs Barley €161.0-163.0  
6rw Barley €141.0-143.0  
2rs Malt €315.0-317.0  
6rw Malt €289.5-291.5  
Crop 2007
2rs Barley €145.0-147.0  5.80%
6rw Barley €123.0-125.0  5.98%
2rs Malt €296.5-298.5  3.84%
6rw Malt €268.5-270.5  3.65%

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
See this Newsletter!
Newsletter 39a, 2006

See this Newsletter!
Newsletter 38b, 2006

See this Newsletter!
Newsletter 38a, 2006

See this Newsletter!
Newsletter 37b, 2006

See this Newsletter!
Newsletter 37a, 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!


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Last five graphs

Open this Table!
The World Malt Export (2004-2005,2005-2006e)

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Canada Barley Exports by Coutry of Destination (2003-2004, 2004-2005)

Open this Table!
Per Capita Beer Consumption in 2 largest beer markets in North America (1999, 2005)

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Vietnam Beer Production

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EU Malt Export Licence Fixations



The graphs are updated from time to time. Just see the updates online on e-malt.com site !


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 39b
September 28 - September 29, 2006

Quote of the week

"This is grain, which any fool can eat, but for which the Lord intended a more divine means of consumption... Beer!"
Robin Hood, Prince of Thieves, Friar Tuck


Currency Rates
Base Currency: Euro, EUR
on 29-September-2006

1 EUR = 1.2711 USD
1 EUR = 0.6753 GBP
1 EUR = 1.4126 CAD
1 EUR = 1.6958 AUD
1 EUR = 149.506 JPY
1 EUR = 2.7663 BRL
1 EUR = 34.0197 RUB
1 EUR = 10.0491 CNY
Base Currency: US Dollar
on 29-September-2006

1 USD = 0.7868 EUR
1 USD = 0.5313 GBP
1 USD = 1.1113 CAD
1 USD = 1.334 AUD
1 USD = 117.629 JPY
1 USD = 2.1763 BRL
1 USD = 26.764 RUB
1 USD = 7.9059 CNY

EUR/USD Chart

Equities of the Largest Breweries

Top Industry News
Europe: SABMiller is setting out an aggressive strategy to "steal share" from rivals in Europe... Click here

Serbia: InBev to invest EUR 20m in 2007 to maintain its dominance in Serbia... Click here

Russia: Baltika says merged sales up 16 % at EUR 776 mln... Click here

USA: Latrobe Brewing finalizes sale of Rolling Rock plant... Click here

UK: Wolverhampton & Dudley Breweries’ year trading was in line with expectations after a good summer... Click here

EU: Greencore’s profit offset by a further decline in the malt business... Click here

World: The IGC lowered its world barley production estimate for 2006-07 by 1 million metric tonnes... Click here

Scandinavia: Malting barley market situation as of September 21st... Click here

More News
EU: The latest repartition of barley varieties ... More Info

Poland: SABMiller is targeting 40 % market share in Poland ... More Info

Colombia: SABMiller will easier operate Bavaria, analysts said ... More Info

USA: August A. Busch IV named President and Chief Executive Officer of Anheuser-Busch Cos. Inc. ... More Info

China: Tsingtao Brewery downgraded to "Sell" ... More Info

EU: The latest overview of world’s beer production ... More Info

Philippines: San Miguel to pay P0.35/share cash dividend on November 6th ... More Info

Russia: Vena Brewery changes the general director ... More Info

Europe: SABMiller is launching fruit-flavoured beers in Eastern Europe ... More Info

USA: Krones realises first complete brewery in the USA for New Glarus Brewing Company ... More Info

Canada: Brick Brewing awarded an extension of rights to use PC(R) trademark in Ontario and Quebec ... More Info

India: SABMiller in talks to acquire Haryana brewer ... More Info

Europe: SABMiller appoints new Marketing Director for Europe ... More Info

Belgium: Goldman adds InBev to conviction buy list ... More Info

USA: Granite City Food & Brewery enters into $16 million equipment lease facility ... More Info

Belgium: InBev beer cutbacks brew discontent ... More Info

USA: Anheuser-Busch announces key personnel moves ... More Info

France: Brasseries Kronenbourg selects TrenStar’s Mobile ... More Info

India: Pepsi along with UB group of Vijay Mallya plan to spread barley plantation ... More Info



Brewery News
Europe: SABMiller is setting out an aggressive strategy to "steal share" from rivals in Europe

Global brewing giant SABMiller Plc is setting out an aggressive strategy to "steal share" in Europe from its arch-rivals and continue to outperform a beer market now showing slowing growth, Reuters commented on September 28th.

The world's second biggest brewer is either first or second in most of the markets in which it operates in Europe, and is planning to drive beer volumes up five percent a year in future despite maturing markets in its eastern heartland of Europe.

The London-based brewer's main European businesses are in the east, brewing Pilsner Urquell in the Czech Republic, Tyskie in Poland and Ursus in Romania, but recently industry growth in its eight European markets has slowed to 1 to 3 percent a year.

"Mid-single figure percentage volume increases are what we look to achieve and we will look to do this principally by share steal from the multi-nationals and local regional players," Alan Clark, managing director of SABMiller's European region, told Reuters in Budapest earlier this week.

Europe is the group's third biggest regional profits earner after South Africa and Latin America, and is group's fastest growing profits region which includes Poland, the Czech Republic, Slovakia, Hungary, Romania and Russia in the east together with ...
More Info


Serbia: InBev to invest EUR 20m in 2007 to maintain its dominance in Serbia

The world’s largest brewery, InBev, said it is to continue investing in its Serbian subsidiary in spite of increased competition from its rivals in the country’s growing beer sector, Food & Beverage News posted on September 26.

InBev, which boasts breweries throughout Eastern and Central Europe, has pledged to spend EUR30m throughout 2007 to maintain its dominance in Serbia. Since it entered the market three years ago, the company has invested €100m into the infrastructure of the Apatinska brewery, which produces the popular Jelen Pivo brand of beer.

While Inbev declined to reveal their plans for expansion in Serbia beyond 2007, company spokesperson Mariam Amssoms, said that they were “committed to the Serbian market and will therefore continue to invest in its operations and brands going forward.”

The brewery is the largest in the country with sales last year reaching 400,000 litres in exports alone. The continued investment is a clear indication of their desire to consolidate their position as market leader.

Earlier this month Carlsberg, one of Inbev's main rivals, announced it would be investing €20m into its Pivara Celarevo brewery, currently the second largest in Serbia. Carlsberg says it wants to increase its market share of 20 per cent. ...
More Info


Russia: Baltika says merged sales up 16 % at EUR 776 mln

Russia's biggest brewery, Baltika, announced on September 27th that its first-half net sales rose 16.1 percent to 776.1 million euros ($985.7 million) after factoring in its merger with three smaller companies, according to Reuters. Baltika said its first-half EBITDA profit margin increased by 3.5 percentage points to 31.1 percent.

Baltika said on the Web site of one of its owners, Carlsberg, that its earnings before interest, taxation, depreciation and amortisation in the six months rose 31 percent to 241.7 million euros. It did not provide a net profit figure.

In an internal merger, Baltika is uniting with smaller breweries Pikra, Vena and Yarpivo. The merger, scheduled to be completed by the end of the year, will save $60-80 million in distribution costs.

Baltika, also owned by Scottish&Newcastle, said on Tuesday that the merger, including a restructuring of its distribution system, helped it increase its July-August sales by 16 percent while the market had grown 14 percent.


USA: Latrobe Brewing finalizes sale of Rolling Rock plant

Pennsylvania Latrobe Brewing Co. announced a final agreement to sell its idled Rolling Rock plant to a brewer that plans to restart operations and increase production, The Associated Press Communicated on September 29th. Terms of the deal were not disclosed.

City Brewing Co., of La Crosse, Wisconsin, had signed a letter of intent to purchase the plant in June. Chief operating officer Kenneth Yartz said Thursday he was pleased to complete the deal.

"There remain a number of details to finalize before operations can begin, but we are optimistic that we can continue to work with city, Municipal Authority and the state to overcome these challenges," Yartz said in a statement.

About 155 unionized brewers and bottlers ratified a two-year contract with City Brewing in July. The agreement expires Aug. 1, 2008.

The Latrobe plant has been closed since the end of July, when it stopped making Rolling Rock beer. Brewery owner InBev USA, whose parent company is based in Belgium, sold the famed western Pennsylvania brand to St. Louis-based Anheuser-Busch for $82 million (€64.5 million). Anheuser-Busch, the nation's largest brewer, now makes Rolling Rock in Newark, New Jersey. The Latrobe plant was not part of the deal.

"We believe ...
More Info


UK: Wolverhampton & Dudley Breweries’ year trading was in line with expectations after a good summer

Wolverhampton & Dudley Breweries (W&DB) announced on Wednesday, September 27th, its 2,355 pubs had enjoyed strong summer trading as it positioned itself for rising costs and a possible slowdown in consumer spending, Reuters communicated on the same day. However, W&DB will have to find another £5million next year to cover increased energy and minimum wage costs.

W&DB said total like-for-like sales rose 2.4 percent at its 457 managed Pathfinder Pubs in the 51 weeks to September 23. At its Union Pub Company's 1,898 tenanted pubs, average pub profit was up by about 5 percent in the 51 weeks, it added in a trading update ahead of its year end on Sept 30.

W&DB warned that high energy prices and rising wages would add another 5 million pounds to next year's cost base and said it had moved 93 managed pubs into tenanted hands to avoid the cost of running them. “We expect that higher energy prices and a 6% increase in the minimum wage level will impact our overall cost base by around £5 million next year,” W&DB commented.

"We remain cautious on the outlook for consumer spending given recent increases in domestic energy costs, historically high levels of consumer debt, and some ...
More Info

Malt News
EU: Greencore’s profit offset by a further decline in the malt business

A stronger than anticipated profit performance in one of Greencore's key divisions, ingredients, has compensated for a continued weakness in EU malt markets, a weakness compounded in the case of Greencore Malt by nearly Euro 4 million of energy price increases, according to details in a trading update issued by the company on September 27th.

Greencore said that despite significant cost pressures, including an energy bill inflated to the tune of €5m, its convenience foods business will deliver annual profit growth of 5pc and that operating profits for the division will be in line with market forecasts of about €68.6m.

"We expect strong second- half trading to compensate for lower profit growth reported in the first half. To date, second-half trading has delivered revenue growth of more than 7pc and operating margin levels that are broadly in line with the prior year," it said.

The second major division, which includes ingredients, agribusiness and related property, is expected to chip in with a further €25.2m in operating profits. This includes the sugar business, which performed ahead of expectations and compensated for a poorer performance by the malt business, where once again the energy bill was a problem, soaring by €4m.

Barley News
World: The IGC lowered its world barley production estimate for 2006-07 by 1 million metric tonnes

2006 world barley production is estimated by IGC (International Grains Council) to rise to 143 million tonnes (140 mln t in 2005), 1 million tonnes less than forecast in August, IGC posted in its Grain Market Report on September 28th.

Continued drought in Australia resulted in a cut of over 1 million tonnes in the forecast crop, to 6.5 million tonnes. There were also reductions in Europe, where the high protein content has reduced the percentage of malting quality barley.

IGC’s forecast for global barley consumption is unchanged from last month at 148 million tonnes. Feed use of barley in the EU will reach a ten-year high as feed wheat availabilities tighten, and ample supplies will promote more barley feeding in Ukraine.

Projected by IGC barley trade in 2006/07 is unchanged at 17.6 million tonnes, with Saudi Arabia’s feed barley needs to remain large. The forecast of EU shipments has been lowered to reflect relatively high prices and sharply reduced availabilities of malting quality barley. Australia’s barley exports will be limited by its smaller crop, but the export forecasts for Russia and Ukraine are raised from last month, the IGC said.


Scandinavia: Malting barley market situation as of September 21st

Barley malting market is deadlocked as farmers refuse sell to the merchants/coops. Single conclusions in 2nd hand regime, H. ABILDSTROEM & Co. ApS commented in its report published on September 21. Malsters gradually accepting lower gradings of barley, giving in on Germination (min 93%), Protein (upto 12.5%) and varieties. Even germinative 2 row spring barley with no variety mentioned is finding buyers. Fully sellers` market and after several attempts to seek a figure, the EU 25 balance sheet with a minus of about 500,000 tonnes 12% protein became fuel on the fire.

The distance to next crop is looking vast. For a while sellers had practically disappeared mainly because of farmerheld longs. Recently sellers are back for minor quantities but at levels 10-12 € higher than 10 days ago and preferably for 2006 delivery. Million € question is: when will farmer commence selling?

The most successful Danish micro breweries now even exporting minor lots to our neighboring countries. Hedegaard Agro made result before taxes of 23.3 mio DKK against 25.4 mio last year. Turnover is up from 843 to 851.6 mio DKK but avian flu hit the departments Rose Poultry and Dan-Hatch.


Malting barley prices. French barley prices.
Nominal prices.

EURO = USD 1.2711 September 29, 2006 
 Crop year   2006   2007 
 Parity   FOB Creil   FOB Creil 
 Position   July 2006   July 2007 
Type   Variety  EURO  USD  EURO  USD 
2RS  Scarlett  164.00  209.00  148.00  188.50 
2RS  Prestige  163.00  207.50  147.00  187.50 
2RS  Cellar  162.00  206.50  146.00  186.00 
2RS  Sebastien  161.00  205.00  145.00  184.50 
2RS  Astoria  161.00  205.00  145.00  184.50 
2RS  Cork   160.00  203.50  144.00  183.50 
6RW  Esterel   142.00  181.00  124.00  158.00 

Prices for Danish malting barley are available on site www.e-malt.com/MarketPrices

Theoretical malt prices.
  EURO = USD 1.2711 September 29, 2006 
Crop year  2006 
Parity  FOB Antwerp 
Position  Sept 2006-Sept 2007 
Conditioning  Bulk   In bags  Bulk containers Bags, containers
Malting barley variety  EURO  USD  EURO  USD  EURO  USD  EURO  USD 
2RS  Scarlett  319.00  405.00  333.00  423.50  333.00  423.50  347.50  441.50 
2RS  Prestige  317.50  403.50  332.00  422.00  332.00  422.00  346.50  440.50 
2RS  Cellar  316.50  402.00  330.50  420.50  330.50  420.50  345.00  438.50 
2RS  Sebastien  315.00  400.50  329.50  418.50  329.50  418.50  344.00  437.00 
2RS  Astoria  315.00  400.50  329.50  418.50  329.50  418.50  344.00  437.00 
2RS  Cork   314.00  399.00  328.00  417.00  328.50  417.50  342.50  435.50 
2RS   Average price  316.00  402.00  330.50  420.00  330.50  420.00  345.00  438.50 
6RW  Esterel   290.50  370.50  306.00  389.00  306.00  389.00  320.50  407.50 
Asia Malt 70/30  309.00  392.50  323.00  410.50  323.50  410.50  337.50  429.00 
**  Asia Malt 50/50  304.00  386.50  318.50  404.50  318.50  404.50  332.50  423.00 

* - 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 2007 are available on site www.e-malt.com/MarketPrices

Barley price evolution



Source: ABARE, September 2006

Table of the week
Canada: Barley Supply and Disposition
as of September 20, 2006


  2004-2005   2005-2006   2006-2007 f 
  Seaded area, '000 ha 4,678  4,440  3,868 
  Harvested area, '000 ha 4,050  3,889  3,435 
  Yield, tonne/ha  3.26  3.21  2.99 
  Production, '000  metric tonnes 13,186  12,481  10,287 
  Imports, '000 metric tonnes 83  46  40 
  Total Supply, '000 metric tonnes 15,371  15,962  13,616 
  Exports, '000 metric tonnes  1,863  2,978  2,150 
  Food & Industry Use, '000 metric tonnes 268  155  260 
  Feed, Waste, Dockage, '000 metric tonnes 9,417  9,181  8,991 
  Total Domestic Use, '000 metric tonnes 10,073  9,695  9,666 
  Carry-out Stocks, '000 metric tonnes 3,435  3,289  1,800 
  Average Price, CA$/tonne 112  110  110-130 
f: forecast, Agriculture and Agri-Food Canada, September 20, 2006
Newsletter SummaryTop
Graph of the week


These Days in Business History
28 September
1879 Sydney Australia inaugurates steam motor tram route
1923 Radio Times 1st published
1953 Dutch govt proclaims 5% general pay increase on Jan 1, 1954
1958 France adopts constitution

29 September
1915 1st transcontinental radio telephone message is sent
1927 Telephone service begins between US & Mexico
1950 Telephone Answering Machine created by Bell Laboratories
1979 Gold hits record $400.20 an ounce in Hong Kong

30 September
1452 1st book published, Johann Guttenberg's Bible
1988 IBM announces shipment of 3 millionth PS/2 personal computer
1997 Microsoft Corp releases Internet Explorer 4.0

1 October
1874 Rotterdam opens drink water pipes
1888 National Geographic magazine publishes for 1st time
1898 Dutch railway Alkmaar-Receiver opens
1908 1st Dutch electric railway in use (Rotterdam-The Hague)
1920 Dutch law provides for an 8 hour working day
1947 1st helicopter air mail & express service, LA, Ca

Agenda


September 2006:
8th BELGIAN BEER WEEKEND The Belgian Brewers’ association
World of Food China - 2006
Beverages - 2006,Belgorod, Russia.Specialized exhibition.
CHINA BREW & BEVERAGE International Brew and Beverage Processing Technology and Equipment
International Brewery and Soft Drinks Industry Exhibition
Riga Food 2006.
The Great Canadian Beer Festival
2nd Bruxellensis Festival
Jean De Clerck Chair XII: Flavours in Beer , a post academic training
Fine Food Australia. Australia's largest exhibition for the food and beverage industry...
TecnoBebida Latin America International Exhibition of Technologies for the Beverage Industry
EXPO Food & Drinks - 2006, Armenia. The 4th Interhational specialized exhibition.
AtyrauFood - 2006, Kazakhstan.5-th North-Caspian Regional Exhibition
Munich Oktoberfest.The world's biggest beer festival.
World Grains Summit: Foods and Beverages San Francisco, California U.S.A.
International Beer Competition 2006 Japan.
FoodWeek Uzbekistan - 2006.11th Annual International Exhibition of Food and Drinks.
Northern Crops Institute Course 2006 Grain Procurement Management for Importers
World Food Moscow - 2006.The 15th International exhibition "All world of food".
The 15 AllUkrainiane forum of food-processing industry - 2006.
Great American Beer Festival® September 28 - 30, 2006.
Farmer of Kazakhstan - 2006.The 4th Kazakhstan international exhibition.


October 2006:
International Beer Summit 2006, Japan.
World Beer Festival, USA
Food And Beverages, Novi Sad Fair, Serbia & Montenegro.
MBAA Brewing and Malting Science Course
Lighthouse International Beer Festival, USA.
Belgian Beer Festival. website:www.beerfestival.be
Belgian Beer Fest - Sunday Brunch, USA.
World Food Ukraine / Ingredients Ukraine International Food and Drinks Exhibition


November 2006:
Balkan Food & Drinks 2006, Bulgaria.
World Food Kazakhstan - 2006
Food & Drinks 2006, Georgia.
EBC SYMPOSIUM ON DRINKABILITY, UK.
InterDrink - 2006, Moscow
PeterFOOD - 2006, Saint-Petersburg
Americas Food & Beverage Show
IHGC meetings Germany
Interfood & Drink, Bulgaria
BRAU Beviale European Trade Fair for the Beverage Industry
Interfood Georgia - 2006
Foodapest - 2006, Budapest
International Forum 'Drinks Industry'
InterFood Tajikistan - 2006




More events are available on site e-malt.com
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