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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
Malt market price evolution
Table of the week
Graph of the week
On These Days
Agenda
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Average market prices
Change trend
26 Feb - 28 Feb, 2007
Crop 2006
2rs Barley €213.0-215.0
6rw Barley €187.0-189.0
2rs Malt €414.0-416.0
6rw Malt €381.5-383.5
Crop 2007
2rs Barley €166.0-168.0 1.21%
6rw Barley €150.0-152.0 2.03%
2rs Malt €342.0-344.0 0.73%
6rw Malt €321.5-323.5 1.26%

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 08b, 2006
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Newsletter 08a, 2007
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Newsletter 07b, 2007
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Newsletter 07a, 2007
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Newsletter 06b, 2007

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!

Available market price evolutions
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Open this Table!
EU Malt Demand estimated 2006-2007
Open this Table!
Japan Beer Sales (1997-2006)
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Canada Barley Production
Open this Table!
Germany Beer Sales (1995-2006)
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World Barley Exports

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.

Last five tables
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E-malt.com Newsletter 09a
February 26 - February 28, 2007
Quote of the week

"There is more to life than beer alone, but beer makes those other things even better."
Stephen Morris


Currency Rates
Base Currency: Euro, EUR
on 28-February-2007

1 EUR = 1.3206 USD
1 EUR = 0.6724 GBP
1 EUR = 1.5336 CAD
1 EUR = 1.6655 AUD
1 EUR = 158.178 JPY
1 EUR = 2.7772 BRL
1 EUR = 34.5136 RUB
1 EUR = 10.2369 CNY
 Base Currency: US Dollar
on 28-February-2007

1 USD = 0.7573 EUR
1 USD = 0.5092 GBP
1 USD = 1.1613 CAD
1 USD = 1.2611 AUD
1 USD = 119.781 JPY
1 USD = 2.103 BRL
1 USD = 26.1342 RUB
1 USD = 7.7515 CNY

EUR/USD Chart

Equities of the Largest Breweries

Top Industry News
Mexico: FEMSA reports double-digit growth in 2006... Click here

Brazil: Ambev extends official offer for Quinsa remaining stake... Click here

USA: Anheuser-Busch denies merger speculations... Click here

Vietnam: Strong competition expected on beer market this year... Click here

Japan: Sapporo takeover double-edged?... Click here

Bulgaria: Zagorka is the beer No 1 in 2006... Click here

Canada: Malting barley up CA$31 to CA$35 per tonne in first 2007-08 CWB Pool Return Outlook... Click here

Australia: ABB forecasts AU$16m–AU$19m net profit despite drought... Click here

World: Ukraine’s export quota for barley helped to lower international prices... Click here

More News
France: Kronenbourg to concentrate its sale teams in Paris ... More Info

UK: InBev closes Belfast marketing department ... More Info

Czech Republic: Budweiser Budvar is launching a new draught beer brand “Pardál” ... More Info

Canada: KPMG's role in the barley plebiscite ... More Info

Kenya: East African Breweries reported a $76m half year pre-tax profit ... More Info

USA: Coors launches 3 new flavours for Zima ... More Info

Ukraine: Export grain quotas for 8 companies to be re-distributed ... More Info

UK: Jobs uncertain at S&N’s Tadcaster brewery ... More Info

Canada: Malting barley prices - The real story ... More Info

Romania: Romaqua to invest 31m euros in brewery ... More Info

Netherlands: Grolsch Brewery to deploy its ID manager software globally ... More Info

Bulgaria: Ledenika&MM to launch new beer brand ... More Info

Canada: Big Rock Brewery – a model in craft beer production ... More Info

Australia: ABB’s chief financial officer to resign ... More Info



Brewery News
Mexico: FEMSA reports double-digit growth in 2006

Fomento Económico Mexicano, S.A.B. de C.V. ("FEMSA") announced on February 26 a 13.0% increase in consolidated total revenues, reaching Ps. 32.812 billion. However, high commodity prices, continuing the third quarter trend, put pressure on the cost structure of our core beverage operations.

FEMSA Cerveza revenues (excluding Brazil) increased 8.3%. Domestic sales volume grew a robust 6.6% and export sales volume increased 13.1%, rounding off a solid year of top-line growth in Mexico and in the U.S.

Oxxo continued its pace of double-digit growth, increasing revenues by 15.1% driven by 365 net new stores and a 6.0% increase in same-store sales.

Consolidated Net Majority Income increased 14.8% to Ps. 6.622 billion.

FEMSA Cerveza revenues (excluding Brazil) increased 9.2%; income from operations increased 7.1%.

FEMSA Cerveza's Brazilian operations grew volumes consistently ahead of the industry during the second half of 2006, generating Ps. 110 million of EBITDA.

Ordinary dividend of US$135 million approved by FEMSA's Board of Directors, to be paid in 2007 and subject to approval at the annual shareholders meeting in March, representing a 44% increase over the prior year.

Three-for-One stock split approved by FEMSA's Board of Directors, subject to approval at the annual shareholders meeting in March.

José Antonio Fernández, Chairman and CEO of FEMSA, commented, ... More Info

Brazil: Ambev extends official offer for Quinsa remaining stake

InBev announced on February 27 that Companhia de Bebidas das Américas (AmBev) has extended the period of the voluntary offer made by Beverage Associates Holding Ltd. (“BAH”), a Bahamian corporation and a wholly-owned subsidiary of AmBev, to purchase up to 6,872,480 Class A shares and up to 8,661,207 Class B shares (including Class B shares held as American Depositary Shares (“ADSs”)) of its subsidiary Quilmes Industrial (Quinsa), Société Anonyme (“Quinsa”), which represent the outstanding Class A shares and Class B shares (and Class B shares held as ADSs) that are not owned by AmBev or its subsidiaries, at a purchase price of U.S.$3.35 per Class A share and U.S.$33.53 per Class B share (U.S.$67.07 per ADS), net to the seller in cash (less any amounts withheld under applicable tax laws), without interest, to 5:00 p.m., New York City Time (which is 11:00 p.m. Luxembourg Time), on March 16, 2007, according to InBev’s press release from February 27.

The offer period is being extended to allow shareholders the opportunity to review the 2006 annual results of Quinsa, which will be released this week, prior to making their decision.

InBev is a publicly traded company based in Leuven, Belgium. The company's origins date ... More Info

USA: Anheuser-Busch denies merger speculations

Anheuser-Busch Cos., the world's largest brewer, has "significant geographic" risk and needs to expand into more overseas markets, Chief Executive Officer August Busch IV said Monday, according to Bloomberg News, February 27.

Busch was speaking at a conference in Scottsdale organized by industry journal Beer Business Daily. He declined to comment on a report last week by Brazil's Valor Economico newspaper that InBev NV, the world's third-largest brewer by sales, held "preliminary" talks with Anheuser-Busch about a possible merger.

"We need to, in the years ahead, diversify our global footprint in order to not have all our eggs in one basket," Busch said in response to questions. "We can't open up our investors to the geographic concentration risk if something were to go wrong in the U.S. marketplace."

Anheuser-Busch has struggled in recent years to lift demand in the United States, where it gets two-thirds of total volume, as some consumers cut back on domestic beer in favor of spirits, wine and imports. The company's domestic volume growth slowed to 1.2 percent last year, reversing a 1.8 percent drop the prior year.

Shares of Anheuser-Busch, based in St. Louis, fell 24 cents to $49.81 at 4:17 p.m. in New York Stock Exchange composite ... More Info

Vietnam: Strong competition expected on beer market this year

Vietnam's beer market is set for an eventful year as new brands hit the domestic market while beer producers in Vietnam invest in expanding their market share, Thai Press Reports Via Thomson Dialog NewsEdge reported February 26.

Construction of a plant producing Kronenbourg beer is planned to start in March in Long An Province. The plant, a joint venture between Vietnam Tobacco Corporation (Vinataba) and Scottish and Newcastle Group, will be able to produce 150 million litres each year. Each partner holds half of the plant's total investment of US$75 million.

Patrick Dougan, general managing director of Vietnam Kronenbourg and development director of the company's Asia-Pacific arm, said Scottish and Newcastle Group has carefully carried out market research in Vietnam.

The domestic beer market has an annual growth rate between 9 to 11 per cent and already enjoys fierce competition with many well-known beer brands, including Sai Gon, Hanoi, Tiger and Heineken, said Dougan.

Forge valuable relationships at The World's Only IP Communications Development Event. Communications Developer Conference is May 15-17, 2007 in Santa Clara.

Vietnam has 300 plants producing beer and alcohol products. Some of them have boosted expansion of production, including Sai Gon Beer, Alcohol and Beverage Corporation (Sabeco) and Vietnam Beer ... More Info

Japan: Sapporo takeover double-edged?

The move earlier this month by U.S. hedge fund Steel Partners to acquire Sapporo Holdings Ltd. is again raising the spectre in corporate Japan of foreign raiders taking over established Japanese companies to turn a quick profit, Japan Times reported February 27.

But, by the same token, some analysts assert the practice also gives Japanese industries a much-needed push to realign.

In December, Steel Partners earned several billion yen when it sold its stake in instant-noodle maker Myojo Foods Co. to industry leader Nissin Food Products Co. after Myojo pursued a capital alliance with Nissin to ward off a hostile takeover by the U.S. investment fund.

As it did with Myojo, analysts say Steel Partners may be waiting for the arrival of a white knight to push up prices before selling its stake in Sapporo. One consequence, however, would be a realignment of the nation's beer industry.

"A takeover move by an investment fund can fulfil the function of triggering realignments in an industry that is actually in need of reorganization," said Yasuhiro Matsumoto, a senior analyst at Shinsei Securities Co. "Corporate mergers do not take place unless driven by a sense of crisis," he said, noting that Sapporo, which is struggling with falling ... More Info

Bulgaria: Zagorka is the beer No 1 in 2006

"Zagorka", the "Heineken"-owned beer maker, reported a profit of almost 6 million EUR in 2006, which is 26% over the previous year, Bulgaria News reported February 26.

The beer company sold 1,538,205 hectoliters of the ale last year. The increase of 9% is made mainly by the "Heineken", "Zagorka" and "Ariana" brands.

"Zagorka" led the market last year with a 30% share, followed by InBev-the owner of "Kamenitza" and "Carlsberg" Bulgaria.

Barley News
Canada: Malting barley up CA$31 to CA$35 per tonne in first 2007-08 CWB Pool Return Outlook

The malting barley PRO is up CA$35 per tonne for two-row and CA$31 for six-row, according to the first CWB’s Pool Return Outlook (PRO) for the 2007-08 crop year of February 26.

Market projections

PRO Commentary
2007-08 crop year

Feed barley
Global feed barley import demand is projected to decline in 2007-08, due in part to better pasture prospects in parts of North Africa and the Middle East. Barley production is also projected to decrease in the Black Sea region, as spring barley area in the Ukraine is set to decline due to increased winter-wheat plantings last fall. Australian barley supplies are extremely tight and new production remains 10 months away from hitting the market. Barley production in the European Union is expected to increase, but the EU has not been aggressive in subsidizing exports. Canada's potential for feed barley exports will be influenced by the volume of the Canadian domestic crop and the level of offshore feed-barley values relative to our domestic market.

Designated barley
Overall, the malting barley market will remain relatively strong due to tight supplies and steady demand. The global malting barley trade is projected to increase due to stronger demand in China, where rising beer production will continue to increase malting barley ... More Info

Australia: ABB forecasts AU$16m–AU$19m net profit despite drought

Leading Australian agribusiness ABB Grain Ltd forecasts a net profit after tax of between AU$16m–AU$19m* for its current financial year, according to ABB’s media release, February 26.

ABB Grain managing director Michael Iwaniw told shareholders attending today’s annual general meeting in Adelaide that ABB could not escape the country’s worst drought in 25 years.

“However, despite the disastrous season ABB is still forecasting a net profit for 2006/07, which demonstrates the company’s diversification strength,” he said.

“ABB has also instigated a comprehensive drought plan with targeted savings of AU$7.5 million (before tax) by the end of this financial year.

“Our malting arm, Joe White Maltings, is currently operating at full capacity and has now increased its annual national malt production to approximately 500,000 tonnes, following the expansion of the Perth malt house last year.

“With the increase in barley prices there has also been an increase in malt prices, enabling Joe White Maltings to make a solid contribution to our profit forecast.”

“We’re expecting a strong performance from our trading group which has been doing business in all states of Australia and has been buying a range of grain and selectively selling to export and domestic markets.

“We’re also continuing to expand our international trading ... More Info

World: Ukraine’s export quota for barley helped to lower international prices

The increase in, and subsequent removal of, Ukraine’s export quota for barley helped to lower international prices, but EU values were supported by tight domestic markets, International Grain Council posted on February 22.

In the EU, winter barley areas are similar to last year but spring barley sowings could be 2% up, with the biggest increases in France and the UK, International Grains Council said in its Grain Market Report, February 22.

Canada’s crop is expected to be larger than in 2006.


Malting barley prices. French barley prices.
Nominal prices.

EURO = USD 1.3206 February 28, 2007 
 Crop year   2006   2007 
 Parity   FOB Creil   FOB Creil 
 Position   July 2006   July 2007 
Type   Variety  EURO  USD  EURO  USD 
2RS  Scarlett  216.00  285.50  169.00  223.50 
2RS  Prestige  215.00  284.00  168.00  222.00 
2RS  Cellar  214.00  283.00  167.00  220.50 
2RS  Sebastien  213.00  281.50  166.00  219.50 
2RS  Astoria  213.00  281.50  166.00  219.50 
2RS  Cork   213.00  281.50  165.00  218.00 
6RW  Esterel   188.00  248.50  151.00  199.50 

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

Theoretical malt prices.
  EURO = USD 1.3206 February 28, 2007 
Crop year  2006 
Parity  FOB Antwerp 
Position  Feb 2007-Sept 2007 
Conditioning  Bulk   In bags  Bulk containers Bags, containers
Malting barley variety  EURO  USD  EURO  USD  EURO  USD  EURO  USD 
2RS  Scarlett  417.50  551.50  440.50  581.50  434.50  573.50  444.50  587.50 
2RS  Prestige  416.50  550.00  439.00  580.00  433.00  571.50  443.50  585.50 
2RS  Cellar  415.00  548.50  438.00  578.50  431.50  570.00  442.50  584.00 
2RS  Sebastien  414.00  546.50  436.50  576.50  430.50  568.50  441.00  582.50 
2RS  Astoria  414.00  546.50  436.50  576.50  430.50  568.50  441.00  582.50 
2RS  Cork   414.00  546.50  436.50  576.50  430.50  568.50  441.00  582.50 
2RS   Average price  415.00  548.50  438.00  578.50  431.50  570.00  442.50  584.00 
6RW  Esterel   382.50  506.00  406.00  536.00  399.50  528.00  410.50  542.00 
*  Asia Malt 70/30  405.50  535.50  428.50  565.50  422.00  557.50  432.50  571.50 
**  Asia Malt 50/50  399.50  527.00  422.00  557.00  415.50  549.00  426.50  563.00 

* - 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

Malt Market Price Evolution
Prices evolution

Table of the week

Number of German Breweries classified by production capacity

Production capacity, hl of beer  1997  1998  1999  2000  2001  2002  2003  2004  2005  2006 
 up to 5,000 hl  686  718  725  746  782  790  773  801  807  816 
 up to 10,000 hl  116  105  107  98  88  94  83  87  90  89 
 up to 50,000 hl  241  237  233  222  231  211  219  194  189  195 
 up to 100,000 hl  85  85  77  86  77  71  72  73  74  70 
 up to 200,000 hl  51  54  52  41  41  45  45  43  35  34 
 up to 500,000 hl  43  35  36  36  28  25  31  32  35  33 
 up to 1 Million hl  18  21  21  21  23  21  25  21  23  18 
 over 1 Million hl  33  30  30  30  29  31  27  30  26  29 
 Total German Breweries  1,273  1,285  1,281  1,280  1,299  1,289  1,275  1,281  1,280  1,284 
Source: Deutscher Brauer-Bund


Newsletter SummaryTop
Graph of the week

Source: USA Beer Institute

These Days in Business History
February 26
1907 Royal Oil and Shell merge to form British Petroleum (BP)
1848 2nd French Republic proclaimed
1995 Barings Bank, one of the oldest and most distinguished investment banks in the world, declares bankruptcy

February 27
1557 1st Russian Embassy opens in London, Russia and U.S. sign trade agreement
1998 Apple discontinues developing Newton computer
1990 Exxon Corp and Exxon Shipping are indicted on 5 criminal counts

February 28
1956 Forrester issued a patent for computer core memory
1982 American Telephone and Telegraph Co. looses record $7 BILLION for fiscal year ending on this day
1986 European Economic Community sign "Special Act" for Europe free trade
Agenda
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.


April 2007:
InterFood St. Petersburg
15th Annual International Beer Festival, USA.
The International Hop Growers’ Convention (IHGC) Meetings, France.
24th ANNUAL INTERNATIONAL BEER FESTIVAL SAN FRANCISCO



More events are available on site e-malt.com
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