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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
Do you know e-malt.com?

Average market prices
Change trend
20 Nov - 22 Nov 2006
Crop 2006
2rs Barley €212.0-214.0   1.43%
6rw Barley €195.0-197.0   2.62%
2rs Malt €399.0-401.0   1.39%
6rw Malt €377.5-379.5   2.30%
Crop 2007
2rs Barley €173.0-175.0     
6rw Barley €152.0-154.0   0.66%
2rs Malt €340.5-342.5   1.19%
6rw Malt €314.0-316.0   1.78%

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 46b, 2006
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Newsletter 45b, 2006
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Newsletter 45a, 2006
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Newsletter 44b, 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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Belgium Beer Production and Export (1986-2005)
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Asia Beer Production by Countries (2003, 2005)
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South America Barley Malt Imports (2005-2006e)
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Beer Consumption in Russia (per capita 1991-2005)
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Top 10 European Beer Brands (2005)

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 47a
November 20 - November 22, 2006
Quote of the week

"Fermentation may have been a greater discovery than fire."
David Rains Wallace


Currency Rates
Base Currency: Euro, EUR
on 22-November-2006

1 EUR = 1.282 USD
1 EUR = 0.6755 GBP
1 EUR = 1.47 CAD
1 EUR = 1.6661 AUD
1 EUR = 151.326 JPY
1 EUR = 2.7771 BRL
1 EUR = 34.1754 RUB
1 EUR = 10.1019 CNY
 Base Currency: US Dollar
on 22-November-2006

1 USD = 0.7801 EUR
1 USD = 0.5269 GBP
1 USD = 1.1467 CAD
1 USD = 1.2994 AUD
1 USD = 118.053 JPY
1 USD = 2.1662 BRL
1 USD = 26.6585 RUB
1 USD = 1.2435 CNY

EUR/USD Chart

Equities of the Largest Breweries

Top Industry News
Poland: SABMiller plc announced US$100 million investment for Kompania Piwowarska... Click here

EU: Tax Commissioner proposes new starting point in beer tax debate... Click here

Russia: Heineken’s investments in Russia reached EUR1.2 billion in 2002-2006... Click here

Honk Kong: Shares in China Resources have risen 17 percent in November 06 on strong Q3 2006 data... Click here

UK: Green King sold 155 pubs to Admiral Taverns Holdings Ltd for £56.525 million... Click here

USA: Bankrupt Pittsburgh Brewing Co. declared it will come out with a rescue plan before November 30... Click here

Australia: The Australian Crop Forecasters dropped the barley crop estimate to 3.4 million t... Click here

USA: USDA reported net barley sales reductions of 40,000 t for Canada... Click here

More News
Japan: Asahi Breweries Ltd. announced it will cancel 10 million shares on 01/12/2006 ... More Info

Latin America: Brewers turn their products to younger clients which are sensitive to global brands and trends ... More Info

Jamaica: Red Stripe takes seriously the competition coming from the new entrant Lascelles Wines & Spirits ... More Info

Canada: Lakeport Brewing Chairman and CEO, Teresa Cascioli wins 2006 Canada's Most Powerful Women ... More Info

UK: Cobra Beer's Finance Director awarded Financial Director of the Year 2006 ... More Info

Japan: Nikko Citigroup upgraded Kirin Brewery to ‘buy’ from ‘neutral’ ... More Info

UK: Enterprise Inns sold 137 Scottish pubs for £115 million ... More Info

South Korea: Heineken-owned Jinro Ltd. sues rival Doosan Co.’s public agent ... More Info

USA: Molson Coors Brewing is absolved of any enforcement action against the company by the Securities and Exchange Commission ... More Info

UK & South Africa: UBS cut SABMiller’s rating from ‘neutral’ to ‘reduce’ ... More Info

New Zealand: DB Breweries released new ready-mixed drinks aiming to restore profit margins ... More Info

UK: Young & Co’s Brewery’s family owners confess that family stake is less than 50% ... More Info

Belarus: Lukashenka visited Syabar Brewery ... More Info

USA: The financing assistance for the redevelopment of the former Pabst brewery received approval ... More Info

Canada: Sapporo Value Chain was honoured with the Canadian Agri-Food Award of Excellence for Export ... More Info

UK: Miller Brands is in quest for new stockists for Pilsner Urquell Draught ... More Info

Thailand: Brokers see a short time benefit from advertising ban for Thai Beverage ... More Info



Brewery News
Poland: SABMiller plc announced US$100 million investment for Kompania Piwowarska

SABMiller plc, one of the world’s leading brewers, announced November 21 that its Polish subsidiary Kompania Piwowarska will invest up to US$100 million in an upgrade of its three breweries. The majority of the investment is in the Tyskie brewery near Krakow in Silesia, where production capacity will be increased to serve growing demand for the Tyskie brand, which is Poland’s best selling beer and biggest export brand. This forms part of a three year investment programme, with the majority of the investment already underway and to be completed by the end of fiscal year 2007.

Following the investment, the Tyskie brewery will be SABMiller’s largest European facility, capable of producing over 8 million hectolitres or 1.4 billion pints annually, equating to 16% of SABMiller’s total European brewing capacity. SABMiller’s total brewing capacity in Poland will rise from 12.5 million hectolitres to 15 million hectolitres.

The Tyskie investment includes a new, technologically advanced brewhouse and an additional packaging line, which will improve the packaging capacity across the country. Further construction is planned to extend the fermenting and maturation areas of the brewery, with the addition of 12 new fermenting tanks and 8 new maturation vessels, the first stage of ... More Info

EU: Tax Commissioner proposes new starting point in beer tax debate

The European Union Tax Commissioner Laszlo Kovacs said November 20 he has proposed a compromise for member states in order to reach an agreement on an increase in the tax on beer, Dow Jones Newswires quoted November 21.

The previous proposal had been for the excise tax on beer and spirits to reflect inflation developments from a starting point of 1992 - representing a 31% hike.

Some member states, such as Germany, have balked at the increase, suggesting beer should be excluded from the excise tax rise on alcoholic beverages. Other states have disagreed.

Kovacs said he has proposed making the "date of departure" for the excise increase May 2004 - the time of E.U. enlargement. At the time, many new member states were required to increase the excise on alcoholic beverages in order to conform to E.U. norms, and they too have resisted a further increase.

"The compromise solution would be to take another starting point, the point of accession of the 10 new countries - that is a reasonable proposal but I don't know whether it can be acceptable," Kovacs said on the sidelines of a conference.

Adding the value of inflation from May 2004 to the present would only result in an ... More Info

Russia: Heineken’s investments in Russia reached EUR1.2 billion in 2002-2006

Heineken has invested EUR1.2 billion in Russia between 2002 and 2006, Rolan Pirmez, president of Heineken in Russia, said at a press conference in Irkutsk November 21, Interfax released the same day.

Heineken spent EUR80 million on upgrades to its Volga Brewery in 2005, he said. The company also spent large amounts of money on an increase in production capacity at its Siberian brewery.

Commenting on the possibility of new acquisitions in Russia, Pirmez said the company does not currently see any suitable options.

Heineken began working in Russia in 2002, when it acquired St. Petersburg brewery Bravo for US$400 million. In 2004, the Dutch company acquired the Sobol Beer brewery in Novosibirsk and the firm TsEPKO, which owned the Shikhan brewery in Sterlitamak and the Volga brewery in Nizhny Novgorod. In 2005, Heineken acquired Patra, St. Petersburg's Stepan Razin, and the Baikal Brewing Co., and has signed an agreement to buy PIT breweries.

Honk Kong: Shares in China Resources have risen 17 percent in November 06 on strong Q3 2006 data

Shares in retail-focused conglomerate China Resources Enterprise Ltd. surged 7 percent to a post-1997 high November 22 after the leading Chinese consumer play reported strong third-quarter results, Reuters announced November 22.

In its unaudited financial and operational review for the third quarter and the nine months ended 30 September 2006 which was released November 21, China resources Enterprise said consolidated turnover for the third quarter and the nine months ended 30 September 2006 amounted to approximately HK$18.0 billion and HK$49.6 billion respectively, representing an increase of 27% and 25% over the same periods of last year.

Profit attributable to the Company’s shareholders for the third quarter of 2006 rose 4% to HK$630 million whereas that for the first nine months of 2006 rose 1% to HK$1,895 million. Excluding the after-tax effect of revaluation of investment properties and major disposals, which led to an aggregate gains of HK$407 million in the first nine months of 2006 and HK$583 million in the same period of 2005, underlying net profit increased by 16% for the first nine months of 2006. Core consumer businesses contributed to the strong underlying profit growth, especially from retail, beverage and food.

There was encouraging profit increase in retail business with ... More Info

UK: Green King sold 155 pubs to Admiral Taverns Holdings Ltd for £56.525 million

Greene King announced November 20 the sale of 155 pubs to Admiral Taverns Holdings Limited ('Admiral') for a cash consideration of £56.525 million. The historic EBITDA generated by the pubs was £5.3 million.

The package sold comprises 140 tenanted and 15 managed pubs. 138 of the 155 pubs sold are freehold and long leasehold and the remaining 17 are short leasehold. The properties are predominantly located across the South of England.

In addition to the cash consideration, Admiral has entered into an attractive beer supply agreement with Greene King for the supply of Greene King ales across the entire Admiral English pub estate.

Rooney Anand, chief executive of Greene King, commented: “Greene King's continuous drive to improve the overall quality of our estate has meant that we have long been sellers as well as buyers of pub assets. Today's deal marks another step in this strategy at a sensible price and we are also pleased with the supply agreement for our ales into the enlarged Admiral estate.”

Green King reported that its revenue for the 52 weeks ended 30 April 2006 was up 16% at £818.6 million and operating profit increased by 21% to £190.9 million. Operating profit margin was ... More Info

USA: Bankrupt Pittsburgh Brewing Co. declared it will come out with a rescue plan before November 30

The Pittsburgh Tribune-Review published November 22 that bankrupt Pittsburgh Brewing Co. promised November 21 that it will present the financing plan it needs to survive at a upcoming court hearing.

The Lawrenceville brewery is working on a deal for $7 million to $10 million in financing, attorney Robert O. Lampl told U.S. Bankruptcy Judge M. Bruce McCullough. The brewery reportedly will have the financing plan ready at a November 30 hearing on its reorganization plan.

An investment group outside of Pittsburgh - but one that has been involved in financing deals in the region - is interested in offering the historic brewery the money, Lampl said, following the hearing on November 21. He declined to identify the investors or what they would receive for their money.

When Pittsburgh Brewing last month filed its reorganization plan, it said it needed $7 million in new financing. McCullough, though, said the plan "would not fly" and that the company actually needs about $12 million to succeed.

The brewery, maker of Iron City and IC Light, has kept the beer flowing since it filed for bankruptcy in December.

With the prospect of presenting a permanent financing plan next week, the brewery postponed until then ... More Info

Barley News
Australia: The Australian Crop Forecasters dropped the barley crop estimate to 3.4 million t

Private group Australian Crop Forecasters (ACF) cut its estimate of Australia's current barley crop to the smallest in over 10 years because of drought. Ninemsn reported November 20 that the group forecast a crop of just 3.4 million t, well down from last season's production of 9.5 million t.

ACF's forecast is down from 3.8 million tonnes a month ago, and compares with an early forecast by the group, issued in May before the latest drought set in, of over 10 million tonnes.

"Following several dry months, rainfall in October continued to deteriorate, falling to well below the long-term average across most of the cropping belt," ACF said in its latest barley forecast on November 20.

"A substantial amount of barley area has been abandoned by growers in South Australia, Victoria and New South Wales, where paddocks were either grazed out or crops suffering extreme moisture stress have been cut for hay," it said.

Australia is one of the largest barley exporters in the world, shipping malting barley to Japan and China for brewing beer, and feed barley to the Middle East for animal feed.

This season's barley production was seen at its lowest since 1994/95 when production was 2.9 million t, ACF said.

Small-sized grain ... More Info

USA: USDA reported net barley sales reductions of 40,000 t for Canada

Idaho weekly barley prices ranged from unchanged to 50 cents higher, The Idaho Barley Commission (IBC) released November 16. USDA reported net sales reductions of 40,000 t for Canada. Barley exports of 40,000 were for Mexico.

USDA has cut their Australian barley projection again this month by 0.3 million t to 4.2 million t. ABARE has pegged the Australian barley crop at only 3.6 million t. Their production totalled 9.9 million t a year ago. USDA increased Russian barley production by 0.5 million t this month to 18.5 million t, compared to 15.8 million t a year ago. Russian exports were also increased by 0.3 million t to 2.5 million t. Ukraine is projected to be the largest barley exporter this year at 4.7 million t, but USDA cut their export figure by 0.5 million t this month because government export licensing policies have slowed the shipment pace.

Japanese Ministry of Agriculture held its fifth SBS feed barley import tender on November 15. According to trade sources, the US supplied 120,800 t of the 249,300 t of feed barley purchased. With the 131,010 t of U.S. barley sold in the 4th tender combined with the 120,830 ... More Info


Malting barley prices. French barley prices.
Nominal prices.

EURO = USD 1.282 November 22, 2006 
 Crop year   2006   2007 
 Parity   FOB Creil   FOB Creil 
 Position   July 2006   July 2007 
Type   Variety  EURO  USD  EURO  USD 
2RS  Scarlett  215.00  276.00  176.00  226.00 
2RS  Prestige  214.00  274.50  175.00  224.50 
2RS  Cellar  213.00  273.50  174.00  223.50 
2RS  Sebastien  212.00  272.00  173.00  222.00 
2RS  Astoria  212.00  272.00  173.00  222.00 
2RS  Cork   211.00  270.50  172.00  220.50 
6RW  Esterel   196.00  251.50  153.00  196.50 

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

Theoretical malt prices.
  EURO = USD 1.282 November 22, 2006 
Crop year  2006 
Parity  FOB Antwerp 
Position  Nov 2006-Sept 2007 
Conditioning  Bulk   In bags  Bulk containers Bags, containers
Malting barley variety  EURO  USD  EURO  USD  EURO  USD  EURO  USD 
2RS  Scarlett  402.50  516.00  417.00  534.50  417.00  534.50  431.50  553.00 
2RS  Prestige  401.50  514.50  415.50  533.00  416.00  533.00  430.50  551.50 
2RS  Cellar  400.50  513.00  414.50  531.50  414.50  531.50  429.00  550.00 
2RS  Sebastien  399.00  511.50  413.50  529.50  413.50  530.00  427.50  548.50 
2RS  Astoria  399.00  511.50  413.50  529.50  413.50  530.00  427.50  548.50 
2RS  Cork   397.50  510.00  412.00  528.50  412.00  528.50  426.50  547.00 
2RS   Average price  400.00  512.50  414.50  531.00  414.50  531.50  429.00  549.50 
6RW  Esterel   378.50  486.50  393.50  504.50  393.50  504.50  408.00  523.00 
*  Asia Malt 70/30  394.00  505.00  408.00  523.00  408.00  523.50  422.50  541.50 
**  Asia Malt 50/50  389.50  499.50  404.00  518.00  404.00  518.00  418.50  536.50 

* - 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

Italian Beer Market (in 000 hl)

Year Production Import Export Consumption
1996 11,117 3,069 428 13,758
1997 11,455 3,341 261 14,535
1998 12,193 3,681 373 15,501
1999 12,179 3,875 379 15,675
2000 12,575 4,142 428 16,289
2001 12,782 4,414 502 16,694
2002 12,592 4,437 689 16,340
2003 13,673 4,664 884 17,453
2004 13,170 4,873 849 17,194
2005 12,798 5,258 716 17,340
Source: Assobirra Annual Report 2005
Newsletter SummaryTop
Graph of the week

Source: Hopsteiner

These Days in Business History
November 20
1923 Garrett Morgan invents & patents traffic signal

November 21
1930 1st commercial crossing of Pacific by plane (China Clipper)

November 22
1923 1st snowmobile patent granted to Carl Eliason
Agenda
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

January 2007:
2007 Barley Improvement Conference, USA.



More events are available on site e-malt.com
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