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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
April 09 - April 11, 2007
Crop 2006
2rs Barley €207.0-209.0
6rw Barley €177.0-179.0
2rs Malt €422.0-424.0
6rw Malt €384.0-386.0
Crop 2007
2rs Barley €174.0-176.0
6rw Barley €152.0-154.0
2rs Malt €361.5-363.5
6rw Malt €334.0-336.0

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 . The changes are compared to last Newsletter's prices. Arrows indicate the direction of the change.

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Newsletter 14a, 2007
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Newsletter 13a, 2007
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Newsletter 12b, 2007

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E-malt.com Newsletter 15a
April 09 - April 11, 2007
Quote of the week

"If we keep doing what we're doing, we're going to keep getting what we're getting."
Stephen R. Covey


Currency Rates
Base Currency: Euro, EUR
on 11-Avril-2007

1 EUR = 1.3409 USD
1 EUR = 0.6811 GBP
1 EUR = 1.5419 CAD
1 EUR = 1.6305 AUD
1 EUR = 159.724 JPY
1 EUR = 2.7234 BRL
1 EUR = 34.7557 RUB
1 EUR = 0.6811 CNY
 Base Currency: US Dollar
on 11-Avril-2007

1 USD = 0.7458 EUR
1 USD = 0.5079 GBP
1 USD = 1.1499 CAD
1 USD = 1.2159 AUD
1 USD = 119.12 JPY
1 USD = 2.031 BRL
1 USD = 25.9195 RUB
1 USD = 7.7431 CNY

EUR/USD Chart

Equities of the Largest Breweries

Top Industry News
Czech Republic: Budvar could be partially privatized... Click here

UK: SABMiller considers making $12.8 billion bid for rival Scottish & Newcastle... Click here

Russia: Beer market still has 15-20% growth potential... Click here

China: Chongqing Brewery expects a 50% jump in Q1... Click here

USA: Craft beer segment - fastest growing in the alcohol beverage industry... Click here

Angola: Lumege – Sociedade Comercial to build beer factory... Click here

Philippines: San Miguel's 2006 profit seen up 5%, upbeat on 2007... Click here

World: Barley shortage to sharpen... Click here

More News
Russia: 75 per cent of alcohol sold last year was beer ... More Info

USA: Wheat, barley groups form grain alliance ... More Info

Chile: CCU announces first quarter 2007 beer volumes ... More Info

Russia: Sun InBev ordered to Altay farmers 2 thousand tonnes of barley ... More Info

India: Beer business set to grow by 20% ... More Info

China: Carlsberg brought 500% jump in 1Q to Lanzhou Huanghe Enterprise ... More Info

Canada: Brick Brewing expands agency business through Direct Cellars Beverage ... More Info

Russia: New beer excises to be adopted ... More Info

Czech Republic: Olympic Committee seeks Kč 14 million as compensation from Budvar ... More Info

Rwanda: East African Breweries penetrates Rwanda ... More Info

Nepal: United Breweries to reopen brewery in Hetauda ... More Info

UK: Beer sales in Scotland dropped since the smoking ban ... More Info

Ukraine: Agricultural producers have already practically exhausted their feed barley reserves ... More Info

Russia: Brewers ask for the end of beer advertising ban ... More Info

Australia: Foster's completes $400 mil share buy-back ... More Info

Belarus: Field works are stopped in all regions because of bad weather ... More Info

Argentina: Truckers protests against AmBev at Brazil's embassy ... More Info



Brewery News
Czech Republic: Budvar could be partially privatized

A privatization tender for Budejovicky Budvar, the last major Czech brewery in state hands, could be prepared in roughly one year and could bring more than CZK 20 bln into state coffers, according to Interfax News Agency, April 10.

The announcement followed a Friday statement that the government would take the first step toward the lucrative brewery's privatizations by changing its legal status to that of a joint-stock company. "It doesn’t necessarily need to be a 100% sale - it could be a partial privatization," Agriculture Minister Petr Gandalovic said.

In a prepared statement Friday following a meeting with the brewer's management at which Prime Minister Mirek Topolanek was also in attendance, Gandalovic said the government wants to begin the transformation of Budvar to a joint-stock company "so that there is space for further development of the brewer, regardless of its ownership." Gandalovic added that Budvar's eventual privatization should be preceded by the settlement of legal protection of Budvar's trademarks, a reference to several dozen legal disputes being fought in courts throughout the world with ... More Info

UK: SABMiller considers making $12.8 billion bid for rival Scottish & Newcastle

UK-based brewing giant SABMiller Plc is considering making 712 pence per share takeover bid for rival Scottish & Newcastle, Sunday Express said, according to Reuters, April 9.

The maker of Miller Lite and Peroni is plotting to acquire rival Scottish & Newcastle in a 6.5-billion-pounds ($12.8 billion) deal.

Quoting unnamed sources, the newspaper mentioned that SABmiller could make a £6.5 billion bid for its rival in the next few days. The newspaper said that in case of a successful deal, SABMiller plans to sell Scottish & Newcastle's UK and French business interests to spirits giant Diageo Plc. JP Morgan Chase is advising SABmiller on the deal, the paper stated.

Russia: Beer market still has 15-20% growth potential

Russian beer market still has 15-20% growth potential, Anton Artemiev, president of OOO “Baltika” Brewing Company, said at a press conference on April 6, according to Russian Beer Union, April 9.

Therefore, brewing companies continue to increase production potential and undertake new projects. “Baltika” plans to increase the production of its brewery in Samara by this summer and to build a brewery in Novosibirsk with a capacity of 2 mil tonnes, by summer 2008.

According to Artemiev, beer production will grow 3-5% this year. At the same time he accentuates that this is only a provisional prognosis. “We have a unique warm start of the year, the market is growing faster than we expected and yet not all the factors influencing the prognosis are taken into consideration”, he added.

In 2006 Russia produced 99.82 hl of beer, 9.8% more than in 2005.

According to Beer Union, the beer consumption constitutes 67 liters per capita which places Russia on 30th place in the world. The Europe average is 80 liters per capita.

“Brewing industry transferred to state budget 87.8 bln rubles in taxes, including 19.1 bln rubles in excise duties”, Artemiev said. Referring to excise duty policy, he proposed to index the beer excise ... More Info

China: Chongqing Brewery expects a 50% jump in Q1

Chongqing Brewery Co., Scottish & Newcastle Plc's partner in China, said it expected to post a jump in first-quarter net profit of more than 50 percent, on higher sales, Reuters reported April 11.

Mid-sized Chongqing Brewery, based in southwest China, also attributed the higher unaudited profit forecast to an adjustment of its product portfolio, it said in a brief statement.

In the first quarter of 2006, the brewer booked a net profit of 13.43 million yuan ($1.74 million), up 63 percent from a year earlier.

Publicly traded companies in China are required to issue earnings projection if they expect net profit to rise by more than 50 percent.

($1=7.732 Yuan)

USA: Craft beer segment - fastest growing in the alcohol beverage industry

In 2006, while sales of large domestic brewers still lagged behind their 2004 peak, the craft beer segment continued to explode, according to Brewers Association, April 10. Scan data from Information Resources Inc. shows craft beer with a 17.8% increase in supermarket sales for 2006 – more growth than any other alcohol beverage category in the supermarket sales channel.

The Brewers Association, which tabulates industry growth data, reports that in 2006 77.7% of the craft beer produced was made from the top 50 craft brewing companies. Additionally, 34 out of the top 50 brewing companies in the U.S meet the Brewers Association’s definition of a craft brewer.
“Beer made by small, independent and traditional breweries is definitely an American success story,” states
Paul Gatza, Director of the Brewers Association. “There’s a change in lifestyle going on. People are trading up and that is what is creating such strong demand for craft beer”.

With just under 1400 small breweries the segment eclipsed 6.7 million barrels in 2006. The fastest growing craft beer sector in 2006 was microbreweries (those under 15,000 barrels a year). Sales were up 16%, showing customer support for local breweries. Total craft beer industry sales have grown 31.5% over the last 3 ... More Info

Angola: Lumege – Sociedade Comercial to build beer factory

A pool of three Angolan commercial banks have released four million US Dollars to Lumege company for the construction of a beer and mineral water factory in north-eastern Lunda-Sul province this year, All Africa published April 10.

The Banco de Poupança e Crédito (BPC), Banco Comercial Angolano (BCA) and Banco de Comércio e Indústria (BCI), signed an agreement at weekend in Saurimo city, during a visit to the site where the factories will be built.

The agreement was signed by Paixão Junior and Adriano Pascoal, BPC and BCI managing boards chairmen, while Gerald Jordan, BCA administrator, signed for his institution.

Lumege-Business Society Limited is an Angolan business group that works in partnership with "WTI" Ltd of South Africa, that will invest USD 11 million in equipment for that project.

According to the officials, the factory will provide more than 100 direct jobs to local citizens.

Philippines: San Miguel's 2006 profit seen up 5%, upbeat on 2007

San Miguel Corp., Southeast Asia's largest food and beverage group, is likely to post a 5 percent rise in 2006 profit and give an upbeat outlook for the coming year due to improving domestic demand and overseas sales, Reuters reported April 10.

Like larger rival Nestle, which reported a better-than-expected 14 percent increase in net profit last year, San Miguel's overseas acquisitions, particularly in Australia, have partly compensated for higher commodity costs.

The Philippines' second-largest listed group is expected to report net profit of 9.51 billion pesos ($198 million) for 2006 compared to 9.031 billion in 2005, according to the median of five analysts polled by Reuters.

San Miguel is forecast to report a 12 percent drop in fourth quarter net profit to 3.34 billion pesos after the group booked a one billion peso derivative gain in the final quarter of 2005.

Leo Venezuela, analyst with ATR-Kim Eng Securities, said he expected double digit profit growth this year.

"They will be a beneficiary of election-related spending and I expect a modest recovery in hard liquor," said Venezuela, who has a "Buy" recommendation on the stock.

"I'm looking at 10.9 billion pesos for full year net profit this year, which translates to ... More Info

Barley News
World: Barley shortage to sharpen

World barley supplies are forecasted to fall to an 11-year-low by July, Barron's Online reported April 7.

"The market is totally dry of barley," Heineken's CEO Jean-Francois van Boxmeer said in late February, when the company released its yearly results. The shortage has pushed European Union malting-barley cash-market prices up 80% in the past 12 months. Prices also jumped in other major producing nations, including the U.S., Canada and Australia.

With global weather patterns becoming more volatile, droughts may increase, industry experts say. Additionally, the greater focus on biofuels to curb auto emissions is leading to a competition for cultivable land, including area seeded for malting barley. A severe drought slashed Australia's 2006 harvest by 60%, and amid President Bush's biofuel push, U.S. barley acreage harvested last year sank to its lowest level since 1885.

Steve Edwardson, executive director of the North Dakota Barley Council, says that corn and soybeans are pushing into traditional barley-growing areas due to attractive prices and improved, northern growing-zone versions of the crops. North Dakota is the largest barley-producing state, with up to 90% of its crop targeted for malt. Rising demand for biofuels crops gives EU farmers more planting choices, says Marieke de Rijke, barley analyst with ... More Info


Malting barley prices. French barley prices.
Nominal prices.

EURO = USD 1.3409 April 11, 2007 
 Crop year   2006   2007 
 Parity   FOB Creil   FOB Creil 
 Position   July 2006   July 2007 
Type   Variety  EURO  USD  EURO  USD 
2RS  Scarlett  210.00  281.50  177.00  237.50 
2RS  Prestige  209.00  280.50  176.00  236.00 
2RS  Cellar  208.00  279.00  175.00  235.00 
2RS  Sebastien  207.00  277.50  174.00  233.50 
2RS  Astoria  207.00  277.50  174.00  233.50 
2RS  Cork   207.00  277.50  173.00  232.00 
6RW  Esterel   178.00  239.00  153.00  205.50 

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

Theoretical malt prices.
  EURO = USD 1.3409 April 11, 2007 
Crop year  2006 
Parity  FOB Antwerp 
Position  Apr 2007-Sept 2007 
Conditioning  Bulk   In bags  Bulk containers Bags, containers
Malting barley variety  EURO  USD  EURO  USD  EURO  USD  EURO  USD 
2RS  Scarlett  425.50  570.50  448.00  601.00  442.00  592.50  452.50  606.50 
2RS  Prestige  424.00  568.50  447.00  599.50  440.50  591.00  451.50  605.00 
2RS  Cellar  423.00  567.00  445.50  597.50  439.50  589.50  450.00  603.50 
2RS  Sebastien  421.50  565.50  444.50  596.00  438.50  587.50  449.00  601.50 
2RS  Astoria  421.50  565.50  444.50  596.00  438.50  587.50  449.00  601.50 
2RS  Cork   421.50  565.50  444.50  596.00  438.50  587.50  449.00  601.50 
2RS   Average price  423.00  567.00  445.50  597.50  439.50  589.50  450.00  603.50 
6RW  Esterel   385.00  517.50  409.00  548.00  402.50  539.50  413.00  554.00 
*  Asia Malt 70/30  412.00  552.50  434.50  582.50  428.50  574.50  439.00  588.50 
**  Asia Malt 50/50  404.50  542.50  427.50  573.00  421.00  564.50  431.50  578.50 


  EURO = USD 1.3409 April 11, 2007 
Crop year  2007 
Parity  FOB Antwerp 
Position  Oct 2007-Sept 2008 
Conditioning  Bulk   In bags  Bulk containers Bags, containers
Malting barley variety  EURO  USD  EURO  USD  EURO  USD  EURO  USD 
2RS  Scarlett  365.50  490.00  388.00  520.50  382.00  512.00  392.50  526.50 
2RS  Prestige  364.00  488.50  387.00  518.50  380.50  510.50  391.50  524.50 
2RS  Cellar  363.00  486.50  385.50  517.00  379.50  508.50  390.00  523.00 
2RS  Sebastien  361.50  485.00  384.50  515.50  378.50  507.00  389.00  521.50 
2RS  Astoria  361.50  485.00  384.50  515.50  378.50  507.00  389.00  521.50 
2RS  Cork   360.50  483.50  383.50  514.00  377.00  505.50  387.50  519.50 
2RS   Average price  362.50  486.50  385.50  517.00  379.50  508.50  390.00  522.50 
6RW  Esterel   335.00  450.50  358.50  481.00  352.50  472.50  363.00  486.50 
*  Asia Malt 70/30  354.50  475.50  190.00  506.00  183.50  497.50  194.50  512.00 
**  Asia Malt 50/50  349.50  468.50  190.00  499.00  183.50  490.50  194.50  504.50 

* - 70/30 = 70% Average two Rows Spring and 30% Six Rows Winter
** - 50/50 = 50% Average two Rows Spring and 50% Six Rows Winter

Table of the week

World Hop Acreage and Percent Share

    1997 1998 1999 2000 2001 2002 2003 2004 2005 2006
Germany acres 52830 48638 45177 45915 46965 45318 40879 43168 42404 41247
% 30 33 32 35 33 33 32 36 34 36
England acres 7764 6047 5636 4828 5035 4681 3538 3354 2932 2609
% 4 4 4 3 3 3 3 2.7 2 2
Czech acres 20411 15091 15842 16703 15864 14735 14417 14420 14010 13109
% 12 10 11 12 11 11 11 12 11 12
Europe (rest) acres 32447 25840 24844 25682 24679 23616 22217 20666 20236 19253
% 18 17 17 18 17 17 18 17.2 16 17
USA acres 43301 36673 34260 36404 35891 29309 28669 28020 29118 29435
% 24 25 24 25 25 22 23 23.3 24 26
China acres 12355 10556 10556 10829 11884 13930 13931 11697 11846 4910
% 7 7 7 7 8 10 11 9.7 10 4
World (rest) acres 7645 6577 6530 3255 4139 4364 3211 3607 3354 2853
% 4 4 5 2 3 3 3 3 3 3
World Totals acres 176753 149422 142845 143616 144457 135944 126862 119943 123609 113417
Source: USDA, IHGC, Merchant Reports, Prepared by HGA
Newsletter SummaryTop
Graph of the week


These Days in Business History
April 9
1799 Income Tax introduced in UK
2007 Apple Computer unveils the revolutionary iPhone

April 10
1790 U.S. Patent system forms
1930 Synthetic rubber 1st produced
1956 Philips broadcasts 1st Dutch color TV programs

April 11
1929 Loetafoon celluloid film system demonstrated in Amsterdam
1992 Euro-Disney opens near Paris
1994 Software programmer Marc Andreesen, then 22 years old, and venture capitalist Jim Clark, the co-founder of Silicon Graphics Inc., found Mosaic Communications Corp.
Agenda
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

May 2007:
European Grain & Oilseed Convention 2007, Brussels
31-st International Congress of the European Brewery Convention , Italy
Hofex - 2007, China
InterFood Azerbaijan 13th Azerbaijan International Food Industry and Agriculture Exhibition
InterFood Astana , Kazakhstan, 9th Astana International Exhibition for Food, Beverages, Technologies

June 2007:
Japan-Asia Beer Cup 2007, Tokyo
InterFood Mongolia
IGC Grains Conference 2007 London, England
Great Japan Beer Festival 2007 in Tokyo
Brasil Brau 2007
The International Hop Growers’ Convention(IHGC)
Practical Course on Malt and Malting Barley Canada
The 5th Canadian Barley Symposium & District Western Canada MBAA
Seattle International Beer Festival



More events are available on site e-malt.com
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