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Newsletter Summary

Currency rates
Equities of largest breweries
Market prices change trend
Brewery news
Malt news
Barley news
Hops 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

18 Dec - 20 Dec, 2006
Crop 2006
2rs Barley €210.0-212.0   0.47
6rw Barley €188.0-190.0   2.58
2rs Malt €401.0-403.0   0.37
6rw Malt €373.5-375.5   1.58
Crop 2007
2rs Barley €162.0-164.0   2.40
6rw Barley €147.0-149.0   0.67
2rs Malt €329.0-331.0   1.49
6rw Malt €309.5-311.5   0.48

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. Average Malt Prices are theoretical and based FOB Antwerp being estimated on French malting barley prices. The changes are compared to last Newsletter's prices. Arrows indicate the direction of the change.


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Newsletter 50b, 2006

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Newsletter 50a, 2006

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Newsletter 49b, 2006

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Newsletter 49a, 2006

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Newsletter 48b, 2006



Market price evolutions

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UK Malt Exports by country of destination, 2005-2006

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Canada Beer Sales (1992-2005)

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World Hop Crop

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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 51a
December 18 - December 20, 2006

Quote of the week

"One drink is just right, two are too many, three too few"
Spanish saying


Currency Rates
Base Currency: Euro, EUR
on 19-December-2006

1 EUR = 1.3091 USD
1 EUR = 0.6708 GBP
1 EUR = 1.5151 CAD
1 EUR = 1.6761 AUD
1 EUR = 154.488 JPY
1 EUR = 2.8147 BRL
1 EUR = 34.5621 RUB
1 EUR = 10.2531 CNY
Base Currency: US Dollar
on 19-December-2006

1 USD = 0.7641 EUR
1 USD = 0.5124 GBP
1 USD = 1.1574 CAD
1 USD = 1.2803 AUD
1 USD = 118.027 JPY
1 USD = 2.1501 BRL
1 USD = 26.401 RUB
1 USD = 7.832 CNY

EUR/USD Chart

Equities of the Largest Breweries

Top Industry News
Tunisia & Netherlands: Heineken announces new joint venture and brewery in Tunisia... Click here

Czech Republic: Czech beer output seen up at 19.8 million hectolitres in 2006... Click here

Russia: Baltika to build a 65 mln EURO plant in West Siberia... Click here

World: China is No 1 beer drinker for the third straight year... Click here

Japan: Kirin aims for over Y150 bln operational profit in 2009... Click here

USA & China: Craft Beer to be Exported to Mainland China... Click here

Australia: ABB’s current season barley pool estimates rise... Click here

Canada: Initial payments for 2006-07 crop year increased... Click here

USA: 2006 hop production increased... Click here

More News
Czech Republic: Worldwide sales of Staropramen beer to exceed two million hectolitres ... More Info

Russia: “Baltika” announces its investment planning in Voronezh region for 2007 ... More Info

Australia: ABB closes 2006/07 east coast barley pool ... More Info

USA: Pittsburgh Brewing's creditors object to investor’s plan ... More Info

Canada: CWB announces final payments for 2005-06 crop year ... More Info

USA: Granite City Food & Brewery initiated with "buy" ... More Info

UK: Scottish & Newcastle to raise beer prices next year ... More Info

Australia: Two GRDC-supported projects strengthen barley's future in Western Australia ... More Info

USA: A-B pays $99M to Stokes, Busch III on retirement ... More Info

Russia: “Baltika” to produce “Yarpivo” in Khabarovsk ... More Info

Canada: Russell Breweries Inc. appoints Advisory Board ... More Info

Canada: Frank D'Angelo officially announces bid for Pittsburgh Penguins ... More Info



Brewery News
Tunisia & Netherlands: Heineken announces new joint venture and brewery in Tunisia

Amsterdam, 19 December 2006 - Heineken N.V. announced the acquisition of 49.99% of the shares in the Tunisian company, Société de Production et de Distribution des Boissons S.A.(SPDB). Heineken is very proud to have Mr. Boujbel, owner of major hotel operations, as its Tunisian partner. Mr. Boujbel holds the majority of the remaining shares and will add his long-standing experience to the venture.

The joint venture company will invest in the construction of a new brewery and will brew and distribute Heineken® and local brands in Tunisia.

Total initial investment is €27 million, financed through both debt and equity. Heineken’s share of the equity stake corresponds to approximately €6 million.

The new brewery will be built in Grombalia, 30 km from Tunis and will start with brewing Heineken® and a local mainstream brand. The initial production capacity of the brewery will be 200,000 hectolitres and it is expected to be operational early 2008.

Tom de Man, Regional President Africa and the Middle East of Heineken N.V., commented: “The Tunisian beer market offers a good opportunity to further build our positive organic volume growth in the region. Tourism is expected to be a primary driver of sustainable economic growth and ...
More Info


Czech Republic: Czech beer output seen up at 19.8 million hectolitres in 2006

Czech beer output should grow roughly by 4 percent year-on-year to 19.8 million hectolitres this year, Czech Beer and Malt Association head Jan Vesely said today, according to Prague Daily Monitor, December 19.

Data for January-November suggest a 4 percent increase, and the beer industry should retain this pace at the end of the year, he added.

The growth will still be pulled by exports, which should grow to 3.5 million hectolitres from last year's 3.1 million hectolitres.

Czech breweries are increasingly successful on foreign markets and the ratio of exports to total production grew to almost 18 percent in the first half of the year, against the global average of 6 percent.

Germany was still the largest market for Czech beer exporters, covering 40 percent of the total volume. Slovakia came second.

Vesely said output for the domestic market was likely to grow as well this year, mainly owing to a long, hot summer.

Czech consumption has been more or less flat around 16 million hectolitres for a long time.

The figure represents about 160 litres per person and year, but brewers say Czechs have been drinking less beer and the figure is flat owing to an increasing number of incoming tourists.

The Beer and Malt Association ...
More Info


Russia: Baltika to build a 65 mln EURO plant in West Siberia

Baltika, Russia's leading brewery, said on December 19th it is to begin construction of a 65 million EUR brewing plant in the West Siberian city of Novosibirsk in 2007, according to RIA Novosti.

The presentation of the project to build a plant with an annual output of 2 million hectolitres was held Tuesday in Novosibirsk and was attended by Novosibirsk Region Governor Viktor Tolokonsky. Plans call for the plant to begin operation in the second quarter of 2008, and the project's payback period is estimated at six years.

Tolokonsky said the plant is expected to yield 280 million rubles ($10.6 million) to the regional budget in 2008, 440 million rubles ($16.7 million) in 2009, and about 700-730 million rubles ($27.7 million) annually in the following years.

Established in St. Petersburg in 1990, Baltika has five breweries in St. Petersburg, Rostov-on-Don, Tula, Samara and Khabarovsk, with a total capacity of 24 million hectoliters a year.

Baltika produces Foster's and Carlsberg beers under license in Russia, and sells its products in Russia and 38 other countries.

In July of this year, Baltika increased its stakes in the charter capital of three smaller beer makers in a merger effort: from 0.17% to 92.76% in St. Petersburg-based Vena, ...
More Info


World: China is No 1 beer drinker for the third straight year

China was the world's No 1 beer-drinking nation in 2005 for the third straight year, 19.5% of worldwide consumption. The Chinese drank around 5.2% more beer in 2005 than in 2004. They consumed a combined 30.49 million kilolitres, according to Kirin Brewery’s recent statement.

The Japanese beer producer attributed China's increase in consumption to the country's economic expansion spreading inland and boosting beer consumption there.

The United States took second place, followed by Germany, Brazil and Russia. Beer drinkers in Brazil and Russia, where health-conscious consumers are turning to more low-alcohol products, drank more beer in 2005 than in 2004.

Japan retained sixth place at 6.34 million kilolitres, down 3.1 percent.

Worldwide beer consumption rose 2.8 per cent in 2005 to 155.96 million kilolitres, marking the 20th consecutive year-on-year gain. The amount would fill the Tokyo Dome baseball stadium 126 times over, the brewer said.


Japan: Kirin aims for over Y150 bln operational profit in 2009

Japan's Kirin Brewery Co. said on Tuesday it aims for an operating profit of more than 150 billion yen ($1.27 billion) in 2009, up 28 percent from a projected 117 billion yen in the current year ending this month, according to Reuters, December 19.

Under a new mid-term business plan, the maker of Ichiban and Kirin Lager beers said it also aims to increase sales by 28 percent to 2.15 trillion yen in 2009.

Kirin, which vies with Super Dry maker Asahi Breweries Ltd. for the title of Japan's largest brewery, has been keen on expanding overseas and into non-beer categories to fend off impacts from a saturated domestic beer market, caused by a shrinking population and shift in consumers' tastes.

The company also told a news conference on its 2007-09 business plan that it plans 250 billion yen in capital spending between 2007 and 2009. During the same period it plans to spend an addition 300 billion yen for other investment operations.

Kirin also said it plans a dividend payout ratio of 30 percent or higher from 2007, it said. The brewer currently has a dividend payout ratio of around 30 percent of parent profits.

Kirin last week said it would pay $38 million ...
More Info


USA & China: Craft Beer to be Exported to Mainland China

The Brewers Association Export Development Program in partnership with American Craft Beer Partners (Pittsburgh, Penn.) announced on December 18, the first, to their knowledge, mixed container shipment of American craft beers to mainland China.

An assortment of award winning American craft beers from Rogue Ales Brewery (OR), Brooklyn Brewery (NY) and North Coast Brewing Co. (CA) beers are being shipped on a container from Seattle in mid-December to Shanghai, China.

This shipment is a culmination of a three-year effort consisting of market research into opportunities for US craft beer in China and reverse trade missions to the US by leading Chinese beer distributors. Funds for this work came in large part from the United States Department of Agriculture's Emerging Markets Program.

The beer will be available in early January at high-end bars and restaurants in Shanghai at a range of 35 RMB ($4.50) to 55 RMB ($7.00) per bottle.

American Craft Beer Partners is working on agreements with on and off-premise accounts to order larger volumes if sales targets for the first shipment are met and distribution goes as planned American Craft Beer Partners looks forward to exporting additional containers to China soon.

Barley News
Australia: ABB’s current season barley pool estimates rise

ABB Grain Ltd has reviewed its gross barley pool indicators for 2005/2006 and 2006/2007 and has increased by A$8/tonne its estimate for current season malting barley and raised its estimate by A$3/t for current season feed barley, ABB Grain Ltd released December 18.

Old season estimates remain unchanged.

Executive manager group marketing, Gary Spiel, said that while domestic barley prices were softening, international market demand remained very strong, particularly for malting barley.

“As a result, we’ve been able to increase our gross barley estimate for current season malting barley to A$328/tonne and also increase to A$241/t the feed barley estimate for current season grain,” Mr Spiel said.

“The Chinese are still expected to shortly need their first half year requirements for barley in 2007 and Australia is well placed to fulfil some of that demand.”

Mr Spiel said that international demand for quality feed barley remained strong and Australia was well placed to take advantage of the current world supply and demand profile.


Canada: Initial payments for 2006-07 crop year increased

The CWB announced that 2006-07 initial payments for feed and designated barley will increase effective December 21, 2006.

The increase in initial payments for feed barley in Pool A will be C$60.50 per tonne, while the increase for designated barley will be C$27 for two-row and C$20 for six-row varieties.

The adjustment payments, in dollars per tonne, for representative grades in each pool account are listed below. The total initial payment to date is basis in-store Vancouver or St. Lawrence and must be adjusted for freight/elevation charges to arrive at farm gate prices.

No. 1 CW Barley (Pool A): to C$79.50 initial payment will be adjusted C$60.50 for C$145 total payment and 2006-07 Pool Return Outlook will constitute C$177.

SS CW 2 Row Designated Barley: to C$147 initial payment will be adjusted C$27 for C$174 total payment and the 2006-07 Pool Return Outlook will constitute C$203

SS CW 6 Row Designated Barley: to C$141 initial payment will be adjusted C$20 for C$161 total payment and 2006-07 Pool Return Outlook will constitute C$198.

Hops News
USA: 2006 hop production increased

According to National Agricultural Statistic Service report of December 15, the hop production for Idaho, Oregon, and Washington in 2006 totaled 57.7 million pounds, up 9 percent from the 2005 crop of 52.9 million pounds, and 4 percent above the 2004 production of 55.2 million pounds. Idaho’s production decreased 16 percent in 2006. Production in Washington and Oregon increased 12 percent and 10 percent, respectively. Washington showed a 2 percent acreage increase.

Oregon and Idaho acreage were down 2 percent and 15 percent, respectively. Yields increased in Washington to 2,058 pounds per acre, and in Oregon to 1,760 pounds per acre. Idaho yields averaged 1,613 pounds per acre, 27 pounds less than a year ago.

Washington growers produced 77 percent of the U.S. hop crop for 2006. Zeus, Columbus/Tomahawk, Galena, and Willamette were the leading varieties in Washington, accounting for 71 percent of the State’s hop crop.

In Oregon, Willamette and Nugget were the major varieties, accounting for 77 percent of the State’s hop production.


Malting barley prices. French barley prices.
Nominal prices.

EURO = USD 1.3135 December 20, 2006 
 Crop year   2006   2007 
 Parity   FOB Creil   FOB Creil 
 Position   July 2006   July 2007 
Type   Variety  EURO  USD  EURO  USD 
2RS  Scarlett  213.00  280.00  165.00  217.00 
2RS  Prestige  212.00  278.50  164.00  215.50 
2RS  Cellar  211.00  277.50  163.00  214.50 
2RS  Sebastien  210.00  276.00  162.00  213.00 
2RS  Astoria  210.00  276.00  162.00  213.00 
2RS  Cork   209.00  274.50  161.00  211.50 
6RW  Esterel   189.00  248.50  148.00  194.50 

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

Theoretical malt prices.
  EURO = USD 1.3135 December 20, 2006 
Crop year  2006 
Parity  FOB Antwerp 
Position  Dec 2006-Sept 2007 
Conditioning  Bulk   In bags  Bulk containers Bags, containers
Malting barley variety  EURO  USD  EURO  USD  EURO  USD  EURO  USD 
2RS  Scarlett  405.00  531.50  419.00  550.50  419.00  550.50  433.50  569.50 
2RS  Prestige  403.50  530.00  418.00  549.00  418.00  549.00  432.50  568.00 
2RS  Cellar  402.50  528.50  416.50  547.00  416.50  547.50  431.00  566.50 
2RS  Sebastien  401.00  526.50  415.50  545.50  415.50  545.50  430.00  564.50 
2RS  Astoria  401.00  526.50  415.50  545.50  415.50  545.50  430.00  564.50 
2RS  Cork   400.00  525.00  414.00  544.00  414.50  544.00  428.50  563.00 
2RS   Average price  402.00  528.00  416.50  547.00  416.50  547.00  431.00  566.00 
6RW  Esterel   374.50  493.00  389.50  511.50  389.50  511.50  404.00  530.50 
Asia Malt 70/30  394.00  517.50  408.50  536.50  408.50  536.50  423.00  555.50 
**  Asia Malt 50/50  388.50  510.50  403.00  529.50  403.00  529.50  417.50  548.50 

* - 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

Barley Price Evolution
Canada Barley Price Evolution Dec 2006
Source: Statistics Canada; Update: December 13, 2006

Table of the week

Australian Barley Supply and Disposal 2001-2007f
in thousand tonnes 2001-2002 2002-2003 2003-2004 2004-2005 2005-2006 s 2006-2007 f
Production 8 280 3 865 10 382 7 740 9 869 3 673
   Domestic use 2 535 2 016 2 476 2 685 2 805 2 907
   as malt and other human use 161 165 168 172 176 166
   feed 2 200 1 650 2 100 2 300 2 450 2 560
   seed 174 201 208 213 180 181
 Exports  5 274 2 608 6 996 4 862 5 925 2 495
   as malting barley 1 705 1 099 2 135 1 464 2 074 1 054
   malt (grain equivalent) 600 624 624 601 595 565
   feed barley 2 971 885 4 241 2 798 3 191 874
s - ABARE estimated, f-ABARE forecast. Source - ABARE December, 2006

Australian Barley Crop Forecast
  Area (in 1000 ha) Production (in 1000 tons)
2005 - 2006s 2006 - 2007s 2005 - 2006f 2006 - 2007f
Queensland 156 90 259 95
New South Wales 1,015 900 2,245 550
Victoria 937 850 2,059 510
South Australia 1,317 1,070 2,685 850
Western Australia 1,303 1,070 2,598 1,650
Tasmania 11 10 23 18
Total Australia 4,739 3,990 9,869 3,673
s - ABARE estimated, f-ABARE forecast. Source - ABARE November, 2006
Newsletter SummaryTop
Graph of the week


These Days in Business History
December 18
1796 1st U.S. newspaper to appear on Sunday (Baltimore Monitor)
1844 Lujo [Ludwig J von] Brentano is born (German economist)
1897 Fernand J Collin is born, Belgian economist/banker
1991 General Motors announces closing of 21 plants

December 19
1997 Masaru Ibuka co-founder Sony Corporation, dies at 89
1795 1st state appropriation of money for road building, Kentucky
1989 American Airlines purchases Eastern Airline's Latin American route

December 20
1790 The first mechanized textile mill in the U.S. opens in Pawtucket, R.I. Built by Samuel Slater
1803 Louisiana Purchase formally transferred from France to US for $27 million
1966 The transmission of trades and quotes from the floor of the New York Stock Exchange is fully automated for the first time
Agenda
December 2006:
12th OBER Kerstbierfestival , Belgium

January 2007:
2007 Barley Improvement Conference, USA.
IFBM (The French Institute for Brewing and Malting) Advanced Course In Malting Technology


February 2007:
Singapore international beer festival.
WBA International Diploma in Brewing Technology Program Chicago
Grainworld 2007, Canada.


March 2007:
Beer Day, Iceland.
WorldFoodUzbekistan - 2007.
World Barley Malt & Beer Conference.
The 2nd International Trading Summit: Grains & Oilseeds, Turkey.




More events are available on site e-malt.com
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