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Newsletter Summary

Currency rates
Equities of largest breweries
Market prices change trend
Brewery news
Barley news
More news
Theoretical malt prices
Malting barley prices
Table of the week
Graph of the week
On These Days
Agenda
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Average market prices
Change trend

16 Oct - 18 Oct 2006
Crop 2006
2rs Barley €171.0-173.0   2.38%
6rw Barley €152.0-154.0   2.68%
2rs Malt €335.0-337.0   2.13%
6rw Malt €311.0-313.0   2.30%
Crop 2007
2rs Barley €153.0-155.0     
6rw Barley €131.0-133.0     
2rs Malt €308.0-310.0   0.65%
6rw Malt €280.0-282.0   0.72%

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 41a, 2006

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Newsletter 40b, 2006

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Newsletter 40a, 2006

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Newsletter 39b, 2006



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E-malt.com Newsletter 42a
October 16 - October 18, 2006

Quote of the week

"Good people do not need laws to tell them to act responsibly, while bad people will find a way around the laws."
Plato (427-347 B.C.)


Currency Rates
Base Currency: Euro, EUR
on 18-October-2006

1 EUR = 1.2539 USD
1 EUR = 0.6721 GBP
1 EUR = 1.4267 CAD
1 EUR = 1.6636 AUD
1 EUR = 149.076 JPY
1 EUR = 2.6801 BRL
1 EUR = 33.7831 RUB
1 EUR = 9.9277 CNY
Base Currency: US Dollar
on 18-October-2006

1 USD = 0.7976 EUR
1 USD = 0.5361 GBP
1 USD = 1.1378 CAD
1 USD = 1.3267 AUD
1 USD = 118.906 JPY
1 USD = 2.1375 BRL
1 USD = 26.9433 RUB
1 USD = 7.9177 CNY

EUR/USD Chart

Equities of the Largest Breweries

Top Industry News
Canada & Japan: Sapporo Breweries Ltd. came out victorious in its bid to acquire Sleeman Breweries Ltd. in a US$265 million deal... Click here

Bulgaria: Beer sales gained 11.8% year-on-year in January-September 2006... Click here

Australia: Federal Court rejected Lion Nathan’s final legal bid to support its failed AU$420 million takeover of Coopers Brewery... Click here

Colombia: SABMiller buys 0.21% of Colombia Bavaria for US$9.9 million... Click here

Vietnam & Germany: Saigon Beer strikes a deal with Krones AG for the construction of the new brewery in Cu Chi... Click here

Poland: Beer sales increased 7% between August 2005 and July 2006, the market ranks the second in Central Eastern Europe... Click here

UK: DEFRA estimates barley production will drop to 5.177 million t in 2006... Click here

Ukraine: Barley exports hit a record of 1.17 million t in September 2006... Click here

Scandinavia: Barley prices saw the most impetuous growth in the last 40 years... Click here

More News
Ukraine: Obolon will invest US$25-30million in the reconstruction of the former Fastovsk brewery ... More Info

USA: ADM appointed Steven Furcich as president of the wholly-owned subsidiary International Malting ... More Info

Latin America: Barley crop forecasts are less optimistic ... More Info

UK: British Beer and Pub Association's Statistical Handbook 2006 says beer remains Britain’s favourite alcoholic drink with 43% of the market ... More Info

Thailand: All advertising of alcoholic beverages may be banned ... More Info

World: Barley deficit estimated to reach 1.0 million t ... More Info

EU: HGCA says barley output will drop by 250,000 t to underperform 54.3 million t ... More Info

UK & Russia: Yorkshire brewery Copper Dragon performed the first of 12 shipments to Moscow, Russian ... More Info

Russia: Annual beer consumption per capita in Krasnoyarsk district hit 78 liters ... More Info

UK: Diageo confirms guidance for organic operating profit growth of at least 7% for 2007 fiscal year ... More Info

USA: Pittsburgh Brewing Co. to recover after US$7 million infusion aiming to modernise its facilities ... More Info

Australia: Lion Nathan forms new logistic joint venture with Linfox as part of project invest ... More Info

UK & South Africa: Analysts at UBS reiterate their ‘neutral’ rating on SABMiller ... More Info

UK: InBev and Bartle Bogle Hegarty advertising agency resigned their 15 years accounts ... More Info

Australia: Malting barley pool increased by AU$25 to AU$/t 240-250 ... More Info

Poland: Carlsberg moves office work to Poland targeting cost savings in Western Europe ... More Info

UK: Kent brewer Shepherd Neame acquired the Tudor Rose pub for an undisclosed sum ... More Info

USA: Idaho Barley Commission reported October 12 barley prices were 15 to 60 cents higher ... More Info

Thailand: Thai Beverage stocks stay flat, experts forecast new investments/acquisitions worth US$800 million ... More Info

USA: Granite City Food & Brewery continues expansion with new opening in Omaha, Nebraska ... More Info

Cameroon: The Cameroon Anonymous Brewers Association released the brown Pelforth Extra Stout beer ... More Info

USA: Corona Beer consolidates advertising with US fourth-largest independent agency Cramer-Krasselt ... More Info

USA: Anheuser-Bush appoints Shawn 'JAY-Z' Carter as co-brand director for Budweiser select brand developing ... More Info

UK: Heineken launches bottled Amstel for the first time in UK ... More Info

USA: Sacramento Brewing Co. will market Red Horse Ale and Sac-Squatch Ale on some of Trader Joe's 130 stores in California ... More Info



Brewery News
Canada & Japan: Sapporo Breweries Ltd. came out victorious in its bid to acquire Sleeman Breweries Ltd. in a US$265 million deal

The Sapporo Breweries Ltd. unit of Japan's Sapporo Holdings Ltd. said October 17 it succeeded in its bid to buy up Canadian Sleeman Breweries Ltd., in a deal worth CA$300 million (US$265 million), Reuters communicated October 17.

The two companies said that Sapporo had acquired 95.8 percent of Sleeman stock and would now exercise its right to acquire the remaining shares. The deal is worth CA$400 million including debt.

Sapporo last week received the green light from Canada's Ministry of Industry to go ahead with C$17.50-a share offer for Sleeman, which was the country's third largest brewer with some 7 percent of the Canadian beer market.

The cash offer represented a lofty 50 percent premium over the price of Sleeman shares on May 11, a day before the Guelph, Ontario-based brewer announced it was looking for a buyer. ($1=$1.14 Canadian)


Bulgaria: Beer sales gained 11.8% year-on-year in January-September 2006

Domestic beer sales rose 11.8% year-on-year to 3.9 million hl in January-September 2006, shows data released by the Union of Brewers in Bulgaria (UBB), Dnevnik released October 16.
Actual beer consumption is somewhat higher if the business of locally-owned brewer Ledenika&MM is taken into account. The company is not a UBB member and therefore does not report on its sales performance to the union.

Beer sales fell 35.5% month-on-month to 432,500 hl in September as the market left behind the summer consumption peak.

Heineken-owned Zagorka AD outsold the competition in September, moving 149,700 hl. The company is also the YTD champ with 1.245 million hl.

Carlsberg pipped Kamenitza for the runner-up spot in September with 113,961 hl versus 110,900 hl for its InBev-owned rival.

However, in the YTD rankings, Kamenitza is ahead of Carlsberg with 1.2 million hl.
InBev, Heineken and Carlsberg Bulgaria own 76% of the local beer market.

The UBB members logged sales of 4.78 million hl in 2005, a fractional improvement on the 4.73 million hl in sales recorded the year before.


Australia: Federal Court rejected Lion Nathan’s final legal bid to support its failed AU$420 million takeover of Coopers Brewery

Lion Nathan's final legal bid to shore up its failed AU$420 million takeover of Coopers Brewery was scuttled in court October 16, The Advertiser posted October 17. Lion argued a share buy-back in 2003 was out of order and it should have had the opportunity to buy Coopers shares.

Last year, the Federal Court disagreed and the decision was backed up by the Full Court of the Federal Court on October 16. Lion is unlikely to take the matter to the High Court.

Coopers chairman and marketing director Glenn Cooper said October 16 the company could now focus on growing its business.


Colombia: SABMiller buys 0.21% of Colombia Bavaria for US$9.9 million

London-based SABMiller Plc bought a 0.21% stake October 12 in a tender offer for shares of its Colombian unit Bavaria SA, but didn't succeed in its plan to buy a 2.22% stake it didn't yet own, Dow Jones Newswires released October 12.

SABMiller paid 23.84 billion Colombian pesos ($9.9 million) for 516,304 shares of Bavaria, Colombia's largest brewer, offering a cash price of COP46,176 a share. SABMiller now controls 97.99% of Bavaria.

The reason SABMiller only garnered a 0.21% stake is because "many minority shareholders aren't aware they own Bavaria shares, others have died and their heirs haven't claimed their papers," said Paul Weiss, equity director of Corredores Asociados, the brokerage that handled the public tender.

He mentioned the case of a family whose grandfather had hidden his shares within the pages of a book in his library. The old man's heirs searched unsuccessfully throughout the bookshelves to cash the shares in the tender offer.

Last month, SABMiller had said the 2.22% stake in Bavaria was worth $105 million. The company had hired French investment bank BNP Paribas SA (13110.FR) to determine the price for each Bavaria share.

Under the Colombian securities law, SABMiller was forced to carry out a ...
More Info


Vietnam & Germany: Saigon Beer strikes a deal with Krones AG for the construction of the new brewery in Cu Chi

German-based machinery manufacturer Krones AG, Neutraubling inked October 16 a deal with the Saigon Beer, Alcohol and Beverages (Sabeco) for the second-phase of construction at the Cu Chi Brewery Plant, Thanh Nien News reported October 16.

Under EPC (engineering, procurement, construction) contract, Krones – a global manufacturer of bottling and packaging machinery – is to equip and construct Sabeco’s largest brewery in outlying Cu Chi District.

Work on the US$124 million-invested plant started in March in the Cu Chi Industrial Zone, with the brewery’s initial capacity of 100 million liters set to come on line by mid-2007.

Under the second-phase expansion, the plant will double its output to 200 million liters in early 2008.

The Krones’ project package covers the buildings and the outdoor installation for the entire brewery, together with the bottling operation.

This also includes processing buildings, tank farm, bottling hall, water treatment, office building, canteen and landscaping.

State-owned Sabeco, with a facility in Ho Chi Minh City and several others around the country, accounts for about 30 percent of the domestic beer market, with an annual output of around 5 million liters.

The country is now home to 329 brewery enterprises currently producing 17 million liters of beer annually.

The government-approved master plan ...
More Info


Poland: Beer sales increased 7% between August 2005 and July 2006, the market ranks the second in Central Eastern Europe

Between August 2005 and July 2006, the turnover in retail sales of beer in Poland amounted to around PLN8.5 billion, which corresponded to 50 percent of the total revenue from sales of all alcoholic beverages.

Year-on-year, beer sales increased by 7 percent.

In terms of sales volume, the Polish beer market ranked second in Central Eastern Europe with 1.85 billion litres, after Russia, where the respective figure was 5.3 billion litres. According to Tomasz Glos from AC Nielsen, the average price of one litre of beer in Poland amounts to $1.4 and is the highest in relation to income per capita in the region. In the Czech Republic, the respective price is $0.74.

The data on the domestic beer market was presented during the annual meeting of Polish brewers, which was held in Kielce. The event will also feature scientists speaking about the latest solutions and technologies employed in beer production.

Barley News
UK: DEFRA estimates barley production will drop to 5.177 million t in 2006

According to the figures released by DEFRA (The Department for Environment, Food and Rural Affairs), the UK barley production is seen lower at 5.177 million t compared to 5.495 million t in 2005, as both winter and spring plantings were reduced, respectively to 0.382 million ha (-1%) and 0.498 million ha (-10%), the Home-Grown Cereals Authority recently released.

The improved winter barley yields of 6.7t/ha resulting in a higher winter barley production of 2.575 million t are not predicted to offset the significant 13% decrease of the spring barley output, settling at 2.602 million t compared to 2.990 million t the year before.


Ukraine: Barley exports hit a record of 1.17 million t in September 2006

In September, Ukraine exported 1.17 million t of barley. According to IA "APK-Inform" with reference to customs data, this is an absolute record for this period in the history of Ukraine, AgriMarket.Info released October 13.

During the analogous period of 2005/06, the export of this grain was 640,300 tonnes.

The largest buyer of Ukrainian barley in September 2006 was Saudi Arabia, which imported about 757,000 tonnes.

As it was previously noted, the Ukrainian Government introduced on October 11 quotation for grains export. According to the preliminary data, quota for barley export to the end of the year is 600,000 t.


Scandinavia: Barley prices saw the most impetuous growth in the last 40 years

Experts confess the market barley is experiencing the steepest price rising per week they have seen after more than 40 years in international grain biz, H. Abildstrom & Co ApS said in its latest report on Scandinavian malting barley of October 16.

Still farmers are watching in excitement the development but recently began to release some of their barley for 2006 delivery. Volumes, however, are small and not causing any relief to the firmness of prices. Anything from just 2 row spring barley, crop 2006 min 93% germinative energy, max 12,5% protein and 3% below 2.2 mm to plain normal pure variety (F. inst Prestige, max 11.5% protein and otherwise full terms) is finding homes.

Sweden is short of higher qualities, exporting lower and importing higher to meet domestic needs. Finland is concentrating on feed barley , free market, intervention barley as well as food-aid.
Meantime, farmers are also there “sitting on” considerable amounts of different qualities of malting barley, which domestic maltsters obviously trying to get hold of.

Denmark is still expected to have a decent surplus of various qualities (full range as above) question is how much remains unsold. Analysts have reasons to believe that due to the reluctance by farmers ...
More Info


Malting barley prices. French barley prices.
Nominal prices.

EURO = USD 1.2539 October 18, 2006 
 Crop year   2006   2007 
 Parity   FOB Creil   FOB Creil 
 Position   July 2006   July 2007 
Type   Variety  EURO  USD  EURO  USD 
2RS  Scarlett  174.00  218.50  156.00  196.00 
2RS  Prestige  173.00  217.00  155.00  194.50 
2RS  Cellar  172.00  216.00  154.00  193.50 
2RS  Sebastien  171.00  214.50  153.00  192.00 
2RS  Astoria  171.00  214.50  153.00  192.00 
2RS  Cork   170.00  213.50  152.00  190.50 
6RW  Esterel   153.00  192.00  132.00  165.50 

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

Theoretical malt prices.
  EURO = USD 1.2539 October 18, 2006 
Crop year  2006 
Parity  FOB Antwerp 
Position  Oct 2006-Sept 2007 
Conditioning  Bulk   In bags  Bulk containers Bags, containers
Malting barley variety  EURO  USD  EURO  USD  EURO  USD  EURO  USD 
2RS  Scarlett  338.50  424.50  353.00  442.50  353.00  442.50  367.50  460.50 
2RS  Prestige  337.50  423.00  351.50  441.00  352.00  441.00  366.50  459.00 
2RS  Cellar  336.50  421.50  350.50  439.50  350.50  439.50  365.00  457.50 
2RS  Sebastien  335.00  420.00  349.50  438.00  349.50  438.00  363.50  456.00 
2RS  Astoria  335.00  420.00  349.50  438.00  349.50  438.00  363.50  456.00 
2RS  Cork   333.50  418.50  348.00  436.50  348.00  436.50  362.50  454.50 
2RS   Average price  336.00  421.50  350.50  439.50  350.50  439.50  365.00  457.50 
6RW  Esterel   312.00  392.50  327.00  410.00  327.50  410.50  341.50  428.50 
Asia Malt 70/30  329.00  412.50  343.50  430.50  343.50  430.50  358.00  448.50 
**  Asia Malt 50/50  324.50  406.50  338.50  424.50  339.00  424.50  353.50  443.00 

* - 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

Table of the week

EU Malt Export Licence Fixations

(in tonnes) 2001-2002 2002-2003 2003-2004 2004-2005 2005-2006 July 01, 2006 -
September 26, 2006  
 France   701,134  661,772  774,761  674,140  648,338  160,751 
 Germany   468,314  408,063  422,047  295,876  236,735  44,756 
 Belgium   296,368  287,850  317,292  418,344  551,396  122,845 
 U.K. 350,621  294,995  443,501  201,892  190,862  40,370 
 Finland   91,890  100,758  114,165  64,986  79,357  20,311 
 Denmark    96,812  94,791  90,452  74,743  68,809  15,860 
 Sweden   101,000  76,916  78,369  88,840  96,100  28,650 
 Netherlands   51,310  66,219  80,703  49,128  92,383  12,588 
 Ireland   35,145  31,140  38,900  56,924  7,001 
 Austria   8,840  8,620  60,211  16,954  38,932  10,893 
 Spain   2,400  5,640  10,000 
 Greece   1,744  1,306  979  130 
 Portugal   221  85  695  850  1,088 
 Italy  
 Czech Republic       34,340  82,062  77,036  8,687 
 Poland       7,604  32,084  167 
 Hungary       2,830  85,792  16,865  1,263 
 Slovakia       1,000  76,916  75,863  11,942 
 Latvia      54 
 Total EU   2,205,799  2,038,157  2,477,849  2,219,661  2,180,986  478,917 

  Total Wheat malt, tonnes  
Total 2001 - 2002    12,805 
Total 2002 - 2003    30,908 
Total 2003 - 2004    15,768 
Total 2004 - 2005    8,162 
Total 2005 - 2006   4,693 
July 01, 2006 - September 26, 2006   1,260 
   
  Total Roasted malt, tonnes  
Total 2001 - 2002    23,480 
Total 2002 - 2003    23,603 
Total 2003 - 2004    24,438 
Total 2004 - 2005    27,212 
Total 2005 - 2006   23,257 
July 01, 2005 - September 26, 2006   5,558 
Newsletter SummaryTop
Graph of the week

Source: USDA, October 2006
These Days in Business History
October 16
1922 Disney Co founded
1923 John Harwood patents self-winding watch (Switzerland)
1985 Intel introduces 32-bit 80386 microcomputer chip

October 17
1977 Mother Teresa of India, awarded Nobel Peace Prize
1987 Phillip Morris announces $11 Billion tender offer for Kraft

October 18
1878 Edison makes electricity available for household usage
1972 American Congress authorizes bi-centennial quarter, half-dollar & dollar coin
Agenda
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


December 2006:
12th OBER Kerstbierfestival , Belgium



More events are available on site e-malt.com
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