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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
April 16 - April 18, 2007
Crop 2006
2rs Barley €202.0-204.0 0.98%
6rw Barley €172.0-174.0 1.70%
2rs Malt €420.0-422.0 0.12%
6rw Malt €382.0-384.0 0.39%
Crop 2007
2rs Barley €171.0-173.0
6rw Barley €150.0-152.0
2rs Malt €361.0-363.0 0.56%
6rw Malt €334.5-336.5 0.60%

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 13b, 2007

Market price evolutions

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Per capita Beer Consumption in Eastern Europe 2006e
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Ukraine Barley Production and Export
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E-malt.com Newsletter 16a
April 16 - April 18, 2007
Quote of the week

"Brewers enjoy working to make beer as much as drinking beer instead of working."
Harold Rudolph


Currency Rates
Base Currency: Euro, EUR
on 18-April-2007

1 EUR = 1.3549 USD
1 EUR = 0.6786 GBP
1 EUR = 1.5334 CAD
1 EUR = 1.6249 AUD
1 EUR = 161.742 JPY
1 EUR = 2.7602 BRL
1 EUR = 34.9404 RUB
1 EUR = 10.4907 CNY
 Base Currency: US Dollar
on 18-April-2007

1 USD = 0.7382 EUR
1 USD = 0.5009 GBP
1 USD = 1.1318 CAD
1 USD = 1.1993 AUD
1 USD = 119.39 JPY
1 USD = 2.0373 BRL
1 USD = 25.7891 RUB
1 USD = 7.7431 CNY

EUR/USD Chart

Equities of the Largest Breweries

Top Industry News
China: Beer output will continue to grow at a rate of around 5% during the 11th five-year period... Click here

Netherlands: Heineken finds EU decision to impose a €219 mil fine excessive and unjustified... Click here

Australia: Coca-Cola Amatil plans beer expansion... Click here

Bulgaria: Beer sales up 32% in Q1... Click here

UK: A quarter of beer pints are served less than 95% full... Click here

North Korea & Russia: Baltika Beer conquers North Korea... Click here

Australia: ABB’s 2006/07 barley pools estimates ‘unchanged’... Click here

Germany: Expensive barley makes brewers increase beer prices... Click here

More News
Europe: EU fines Heineken, Grolsch, Bavaria 273.8 mln eur over Dutch beer cartel ... More Info

Russia: Heineken Union holds a work-to-rule action ... More Info

Belgium: Former InBev chief seeks 30-mln-euro severance deal ... More Info

Malaysia: Carlsberg to focus on local market and is going to launch new brands this year ... More Info

Australia: Barley growers to share AU$6 mil in first distribution ... More Info

Ethiopia: Kangaroo Plast Group to set up a beer factory in Modjo ... More Info

Belgium: InBev faces further legal contests over management golden handshakes ... More Info

Vietnam: Vinamilk, with a stake in a brewery with SABMiller, reports rising sales in Q1 ... More Info

Canada: ICBS Limited receives unsolicited offer of $3.5 mil for their Ramapo Valley Brewery Unit ... More Info

UK: SABMiller’s rating "hold" ... More Info

Canada: Lakeport Brewing introduces Lakeport Red available in bottles and cans at the lowest legal price ... More Info



Brewery News
China: Beer output will continue to grow at a rate of around 5% during the 11th five-year period

China's beer output will keep growing at a rate of around 5% during the 11th Five-year period despite the large cardinal number, according to IPD Group press release, April 18. And due to the adjustment of the product structure, the development of the rural market as well as the gradually orderly market competition, the beer price will rise and so will the profit-making ability.

Since its reform and opening up, China's beer industry has been developing rapidly. In 2005, the beer output had broken the record of 30 million liters to 30.61 million liters for the first time, rising 5.2% year-on-year, and the output and sales volume has ranked first for four successive years. According to the latest data of the National Statistics Bureau of China, in Jan-early Sep 2006, the beer output across China reached 28.4 million tons, increasing by 13.0% over the same period of 2005.

Currently, the per capita beer consumption in China has been near to 22 liters, but it is only about 10 liters in the central and western regions, and it is less than 5 liters in the rural areas with over 800 million populations. However, the present average level in the world is ... More Info

Netherlands: Heineken finds EU decision to impose a €219 mil fine excessive and unjustified

Heineken N.V. announced that it has received the decision of the European Commission stating that Heineken and other brewers operating in the Netherlands restricted competition in the Dutch market during the period 1996-1999, according to its news room, April 18. This decision follows an investigation that commenced in March 2000.

As a result of its decision, the European Commission has imposed a fine on Heineken of €219,275,000.

Heineken is highly surprised by the decision and finds the fine excessive and unjustified given the strong arguments that the company put forward to the European Commission.

The company disagrees with the suggestion made by the European Commission that prices in the Dutch market were increased via co-ordinated practices. The company demonstrated to the European Commission that consumer prices in the off-trade (food) market actually declined during the time period in question. In the on-trade (horeca) market, the company’s price increases were in line with the CPI (Consumer Price Index). In addition, Heineken also argued that in the Netherlands, it has absolutely no involvement in the private label segment of the market, one of the areas that the European Commission investigated.

Once it becomes available, Heineken will study the details of ... More Info

Australia: Coca-Cola Amatil plans beer expansion

Australian drinks company Coca-Cola Amatil Ltd. said on Wednesday it expected profit growth to improve this year and outlined plans to reduce its reliance on soft drinks and expand in beer, boosting its shares, according to Reuters, April 18.

Announcing results of a strategic review, Coca-Cola Amatil said it will expand its non-cola soft drinks and speed its entry into the highly profitable Australian beer market.

The company said it will fast track its joint venture with world No. 2 brewer SABMiller Plc. They face tough competition in the Australian beer market, which is dominated by Fosters Group Ltd. and Lion Nathan Ltd.

"Foster's and Lion Nathan aren't going to give up market share without a fight, but they need to realise the dynamics have changed and the market is no longer a duopoly," said Shaw Stockbroking analyst Scott Marshall.

Coca-Cola Amatil entered the joint venture with SABMiller last year to distribute premium beer brands Peroni, Miller Genuine Draft and Pilsner Urquell.

It will consider building a brewery in Australia under the joint venture, manufacture some imported brands locally, and develop new domestic brands. The capital outlay will be A$100-A$125 million for its 50 percent share of the venture.

"The Australian beer market is one of ... More Info

Bulgaria: Beer sales up 32% in Q1

Sales of Bulgarian brewers grew by 32% in the first three months of the year, compared to the same period of 2006, to 887,512 hectoliters, according to data of the brewers industry union, April 18.

Nearly half of the sales, 434,918 hectoliters, were sold in March alone.

The figures do not include the sales of Ledenika&MM brewery, which is not a member of the industry union.

Carlsberg Bulgaria reported the biggest sales increase, by 80% to 258,113 hectoliters.

Zagorka, owned by Heineken, remains the biggest brewer on the Bulgarian market, with sales of 291,000 hectoliters, a 31% hike on the year.

Belgian InBev's Bulgarian arm, Kamenitza, reported a 2.3% drop in sales, to 230,500 hectoliters

Carlsberg, Heineken and InBev are three of the top five biggest brewers in the world, together with Anheuser-Busch and SAB Miller, which do not have operations in Bulgaria.

UK: A quarter of beer pints are served less than 95% full

A new survey by the Campaign for Real Ale (CAMRA) has revealed that one in four pints in the UK are served less than 95% full and this is costing beer drinkers a staggering £481 million every year, CAMRA announced April 16. CAMRA has launched a nationwide petition calling for the Government to end short measures as they promised a decade ago.

For the first time in its 35 year history, CAMRA has taken out advertisements in national media in order to let consumers know how to make a stand against this unfair practice.

The CAMRA survey of local authorities' trading standards departments has revealed:

- A shocking 26.6% of all pints served are over 5% short measure
- The worst example found was 13% short of a full pint
- 76% of pubs goers want the Government to stick to its promise to ensure drinkers get a full pint
- Beer drinkers lose £1.3 million every day by paying for a full pint but receiving less than 100% liquid in the glass.

Labour had made an election promise to legislate against short measures in 1997. This promise has not been fulfilled and has cost the consumer £4.5 billion over the last decade.

CAMRA ... More Info

North Korea & Russia: Baltika Beer conquers North Korea

Baltika Breweries began exports to North Korea as it seeks to expand on international markets, the brewer said in a statement, according to The Moscow Times, April 18.

The first 72,000 bottles of Baltika No. 5 Gold were delivered to Korean Trade on Friday, the brewer said. Cooperation talks began in 2001, when North Korean leader Kim Jong Il visited Baltika's brewery in St. Petersburg and sent engineers to the plant to study brewing methods the following year. Reaching an accord on beer exports took more than three years afterward, Baltika said.

"The beginning of the company's product supplies to the Democratic People's Republic of Korea's market is one of the most unusual projects," Dmitry Kistev, head of Baltika's export sales, said in the statement. "The foam drink brewed in the city that's the cradle of socialist revolution – and that's how Baltika will be positioned in North Korea – will be available for foreign tourists as well."

Barley News
Australia: ABB’s 2006/07 barley pools estimates ‘unchanged’

ABB Grain has reviewed gross estimates for its 2006/2007 barley pools and has left them unchanged, according to ABB’s media release, April 18.

The No.3 gross pool indicators remain at AU$258/tonne for malting 1 barley and AU$171/tonne for feed 1 barley.

ABB’s executive manager group marketing, Gary Spiel, said there was still some strong demand for feed barley.

“The strong Australian dollar, which last week reached a 17 year high against the US dollar, naturally has an impact on the value of grain when translated back into Australian currency,” Mr Spiel said.

“This impact has been further exacerbated by the increase in sea freight values.”

Mr Spiel said demand for malting barley from the Chinese has been stifled since their New Year, and they had shown a reluctance to buy at current world prices.

“They are using domestic barley where necessary to fill their demand,” he said. “However, the desire for malt and quality grain means that malting barley buyers are expected to eventually come back into the market.”

On April 2, ABB Grain closed its No.2 barley pools, for both malting and feed, and immediately opened the current No.3 pools, so as to continue receiving late deliveries of grain or transfers of warehoused grain.

ABB’s ... More Info

Germany: Expensive barley makes brewers increase beer prices

The rise in barley prices gives no other choice to brewers than to increase the price of beer, MA reported April 18. The growers said they are not responsible for the entire increase in beer prices but only for 0.12 Euros per box.

“The brewers have always demanded low prices for barley, pushing the growers to abandon this culture”, president of German Farmers Association said.


Malting barley prices. French barley prices.
Nominal prices.

EURO = USD 1.3549 April 18, 2007 
 Crop year   2006   2007 
 Parity   FOB Creil   FOB Creil 
 Position   July 2006   July 2007 
Type   Variety  EURO  USD  EURO  USD 
2RS  Scarlett  205.00  278.00  174.00  236.00 
2RS  Prestige  204.00  276.50  173.00  234.50 
2RS  Cellar  203.00  275.50  172.00  233.50 
2RS  Sebastien  202.00  274.00  171.00  232.00 
2RS  Astoria  202.00  274.00  171.00  232.00 
2RS  Cork   202.00  274.00  170.00  230.50 
6RW  Esterel   173.00  234.50  151.00  204.50 

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

Theoretical malt prices.
  EURO = USD 1.3549 April 18, 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  423.50  573.50  446.00  604.50  440.00  596.00  450.50  610.00 
2RS  Prestige  422.00  571.50  445.00  602.50  438.50  594.00  449.00  608.50 
2RS  Cellar  421.00  570.00  443.50  601.00  437.50  592.50  448.00  607.00 
2RS  Sebastien  419.50  568.50  442.50  599.50  436.00  591.00  446.50  605.00 
2RS  Astoria  419.50  568.50  442.50  599.50  436.00  591.00  446.50  605.00 
2RS  Cork   419.50  568.50  442.50  599.50  436.00  591.00  446.50  605.00 
2RS   Average price  421.00  570.00  443.50  601.00  437.50  592.50  448.00  607.00 
6RW  Esterel   383.00  520.00  406.50  551.00  400.50  542.50  411.00  557.00 
*  Asia Malt 70/30  409.50  555.00  432.50  586.00  426.50  577.50  437.00  592.00 
**  Asia Malt 50/50  402.50  545.00  425.00  576.00  419.00  567.50  429.50  582.00 


  EURO = USD 1.3549 April 18, 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  364.50  494.00  387.50  525.00  381.50  516.50  392.00  531.00 
2RS  Prestige  363.50  492.50  386.50  523.50  380.00  515.00  390.50  529.00 
2RS  Cellar  362.50  490.50  385.00  521.50  378.50  513.00  389.50  527.50 
2RS  Sebastien  361.00  489.00  383.50  520.00  377.50  511.50  388.00  526.00 
2RS  Astoria  361.00  489.00  383.50  520.00  377.50  511.50  388.00  526.00 
2RS  Cork   359.50  487.50  382.50  518.50  376.50  510.00  387.00  524.00 
2RS   Average price  362.00  490.50  385.00  521.50  378.50  513.00  389.00  527.50 
6RW  Esterel   335.50  455.50  359.00  486.50  353.00  478.00  363.50  492.50 
*  Asia Malt 70/30  354.50  480.00  194.00  511.00  187.50  502.50  198.50  516.50 
**  Asia Malt 50/50  349.50  473.00  194.00  504.00  187.50  495.50  198.50  510.00 

NB: Prices published are theoretical malt prices including financial cost, THC (for bulk and bags container) and all administrative costs. This prices may fluctuate according to the quantity per delivery and technical specifications.

* - 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

Europe Barley Crop Estimate 2006 and Forecast 2007

Country Year BARLEY  thereof SPRING BARLEY 
    Area
1000 ha		 Yield
100kg/ha		 Production
1000 t		 Area
1000 ha		 Yield
100kg/ha		 Production
1000 t
Austria  2006  206  44.3  913  142  41.3  586 
2007  190  48.7  925  120  45.0  540 
Belgium/Lux.  2006  55  77.4  426  9  59.0  50 
2007  58  75.0  435  8  61.0  49 
Denmark  2006  677  48.0  3 353  519  45.5  2 361 
2007  630  52.6  3 314  470  50.0  2 350 
Finland  2006  564  34.0  1 918  564 34.0 1 918
2007  555  33.0  1 832  555 33.0 1 832
France  2006  1 662  62.7  10 421  493  57.1  2 815 
2007  1 718  64.8  11 133  525  59.0  3 098 
Germany  2006  2 025  59.1  11 968  542  46.4  2 515 
2007  2 029  61.6  12 499  555  50.0  2 775 
Greece  2006  170  16.0  272       
2007  255  18.0  459       
Ireland  2006  157  69.0  1 083  144  70.0  1 008 
2007  168  72.0  1 210  151  70.0  1 057 
Italy  2006  325  37.5  1 219       
2007  310  38.0  1 178       
Netherlands  2006  44  61.2  269  41  60.7  249 
2007  47  61.3  288  45  61.0  275 
Portugal  2006  41  23.0  94       
2007  30  21.0  63       
Spain  2006  3 136  25.8  8 091  2 370  26.2  6 209 
2007  3 220  25.6  8 243  2 520  26.0  6 552 
Sweden  2006  307  36.2  1 111  301  36.0  1 084 
2007  348  41.7  1 451  340  41.5  1 411 
U.K.  2006  878  59.4  5 215  494  53.2  2 628 
2007  878  59.9  5 259  510  55.0  2 805 
TOTAL EU-15  2006  10 247  45.1  46 253  5 619  38.1  21 424 
2007  10 436  46.3  48 288  5 799  39.2  22 742 
Cyprus  2006  50  22.0  50       
2007  50  22.0  50       
Czech Rep.  2006  529  37.5  1 984  426  37.0  1 576 
2007  525  41.2  2 163  415  41.0  1 702 
Estonia  2006  138  21.4  295  137  21.4  293 
2007  131  24.0  314  130  24.0  312 
Hungary  2006  300  38.0  1 140  122  36.0  439 
2007  305  38.4  1 171  125  37.5  469 
Latvia  2006  152  16.1  245  148  16.0  237 
2007  148  20.1  297  145  20.0  290 
Lithuania  2006  381  22.0  838  295  23.0  679 
2007  371  25.1  931  365  25.0  913 
Malta  2006  1  26.0  3       
2007  1  26.0  3       
Poland  2006  1 221  26.8  3 272  1 066  25.5  2 718 
2007  1 200  31.1  3 732  1 050  30.2  3 171 
Slovakia  2006  186  36.7  683  167  37.0  618 
2007  190  37.8  703  160  37.0  592 
Slovenia  2006  18  38.0  68       
2007  17  36.6  61       
TOTAL EU-10  2006  2 975  28.8  8 571  2 361  27.8  6 560 
2007  2 939  32.1  9 433  2 390  31.2  7 448 
TOTAL EU-25  2006  13 222  41.5  54 823  7 980  35.1  27 984 
2007  13 375  43.2  57 721  8 189  36.9  30 190 
Romania  2006  330  21.9  723  200  19.3  386 
2007  320  23.6  755  170  21.0  357 
Bulgaria  2006  210  24.5  515  25  20.0  50 
2007  190  29.8  566  25  25.5  64 
Serbia  2006  95  29.1  276  45  31.0  140 
2007  100  29.6  296  65  32.0  208 
Croatia  2006  59  35.5  209       
2007  50  35.0  175       
Bosnia  2006  20  25.0  50       
2007  15  24.5  37       
Macedonia  2006  35  25.0  88       
2007  35  25.0  88       
Albania  2006  10  30.0  30       
2007  10  30.0  30       
TOTAL Non - EU  2006  219  29.8  653  45  31.0  140 
2007  210  29.8  625  65  32.0  208 
TOTAL EUROPE 31  2006  13 981  40.6  56 714  8 250  34.6  28 559 
2007  14 095  42.3  59 668  8 449  36.5  30 819 
Source: COCERAL, Brussels, March, 2007
Newsletter SummaryTop
Graph of the week

Source: ABARE February, 2007

These Days in Business History
April 16
1948 Organization for European Economic Cooperation (EEC) forms in Paris
1986 IBM produces 1st megabit-chip

April 17
1704 1st successful U.S. newspaper; published in Boston by John Campbell
1933 Pres. Franklin D. Roosevelt announces that he will issue an executive order embargoing exports of gold and free the exchange rate of the U.S. dollar to float against foreign currencies.
1989 An all-financial-news TV service premieres, as CNBC airs its first market broadcast.

April 18
1921 Junior Achievement incorporated in Colorado Springs Colo
1948 International Court of Justice opens at Hague Netherlands
1968 London Bridge is sold to U.S. oil company to be erected in Arizona
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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