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Newsletter Summary
Currency rates
Equities of largest breweries
Market prices change trend
Top industry news
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
July 02 - July 04, 2007
Crop 2006
2rs Barley €197.0-199.0
6rw Barley €170.0-172.0
2rs Malt €417.0-419.0
6rw Malt €382.5-384.5
Crop 2007
2rs Barley €231.0-233.0 6.42%
6rw Barley €207.0-209.0 6.67%
2rs Malt €440.0-442.0 4.01%
6rw Malt €409.5-411.5 4.06%

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 26a, 2007
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Newsletter 25b, 2007
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Newsletter 25a, 2006
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Newsletter 24a, 2007
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Newsletter 23b, 2007

Market price evolutions

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EU 2 row Spring Malting Barley production (crop year 2006/07)
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Bulgaria Beer Production (1991 - 2006)

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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 26b
July 02 - July 04, 2007
Quote of the week

"There are only two times when I drink beer, when I'm alone and when I'm with someone else"


Currency Rates
Base Currency: Euro, EUR
on 29-June-2007

1 EUR = 1.3461 USD
1 EUR = 0.6727 GBP
1 EUR = 1.4355 CAD
1 EUR = 1.5968 AUD
1 EUR = 165.556 JPY
1 EUR = 2.6067 BRL
1 EUR = 34.7404 RUB
1 EUR = 10.2644 CNY
 Base Currency: US Dollar
on 29-June-2007

1 USD = 0.743 EUR
1 USD = 0.4998 GBP
1 USD = 1.0664 CAD
1 USD = 1.1862 AUD
1 USD = 123.005 JPY
1 USD = 1.9365 BRL
1 USD = 25.8086 RUB
1 USD = 7.6254 CNY

EUR/USD Chart

Equities of the Largest Breweries

Top Industry News
Denmark: Carlsberg could raise $12.7 bln by making a major beer acquisition... Click here

USA: The strike at Western Beverage is not expected to halt flow of Anheuser-Busch beers for July 4... Click here

Norway: The country proposes alcohol tax increase and this may lead to the death of brewing industry... Click here

EU & Russia: Russian beer Baltika has its eyes on the European market... Click here

UK: SABMiller plc released its Annual Report for 2007... Click here

Scandinavia: Weather conditions favorable for malting barley... Click here

USA: New two-rowed barley released by North Dakota Agricultural Experiment Station... Click here

More News
UK: CAMRA's National Executive meets media and local drinkers on first day of smoking ban ... More Info

Europe: Carlsberg is expected to continue closing European breweries ... More Info

Canada: CWB 2006-07 feed barley PRO increases ... More Info

Australia: Kent brewery transaction completed ... More Info

USA: 98% of American adults who drink do so responsibly ... More Info

UK: Carlsberg professors prepared to bid for S&N ... More Info

Canada: Retirees sue brewer Labatt over new $50K limit on lifetime health, drug benefits ... More Info

Russia: The number of Baltika stocks changed ... More Info

USA: Heineken picks MediaVest as its Hispanic media buying and planning agency ... More Info

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

India: Kirin Brewery ratings affirmed after reorganisation ... More Info

World: Diageo reiterates guidance for 8% organic operating profit growth for the year ending 30 June 2007 ... More Info

Brazil: AmBev to incorporate Industrial Nanotech into its plant maintenance program ... More Info

USA: Great American Beer Festival to showcase new features ... More Info



Brewery News
Denmark: Carlsberg could raise $12.7 bln by making a major beer acquisition

Danish brewing giant Carlsberg A/S said on June 26 it was likely to make a major beer acquisition and could raise as much as 70 billion Danish crowns ($12.7 billion) for such a deal, according to Reuters.

"A major deal is likely. Carlsberg has the strength to become bigger," Chairman Povl Krogsgaard-Larsen told Reuters in an interview following the surprise announcement last week that the group's chief executive was departing.

The world's fifth-largest brewer, which makes Carlsberg, Tuborg, Holsten and Baltika beers, is permitted to raise more equity following a change last month in the statutes of its controlling shareholder, the Carlsberg Foundation charity.

Krogsgaard-Larsen said Carlsberg was an intermediate-size brewer along with Scottish & Newcastle Plc and Molson Coors. This, he said, put pressure on the group to do deals so it could compete with the world's top brewers including InBev and SABMiller Plc.

Carlsberg shares ended up 0.61 percent at 659 crowns, while S&N closed 1.6 percent higher at 650.5 pence as analysts contemplated a possible Carlsberg bid for its Edinburgh-based rival.

Carlsberg Chief Executive Nils Smedegaard Andersen, who is set to resign after third-quarter results on Nov. 7, said the company could raise both equity and debt. Last week, Andersen, 48, was ... More Info

USA: The strike at Western Beverage is not expected to halt flow of Anheuser-Busch beers for July 4

The strike at Western Beverage Co. is not expected to create a shortage of Anheuser-Busch beer in local stores for the July 4 holiday, executives of Western Beverage Co. said on June 28, according to the Statesman Journal.

Jack Willis, executive vice president for Western Beverage, said the company has drawn on a pool of temporary workers and administrative employees to replace the drivers and delivery people on strike. "I'm going to have all the beer out," Willis said, although he added that he'd be working through the weekend in some locations.

About 35 Salem employees of Western Beverage -- which locally supplies Budweiser, Michelob and other Anheuser-Busch products -- are on strike. The workers have been picketing outside Western Beverage's warehouse at 300 Lancaster Drive NE since Monday afternoon, said Robert McKinney, representative for Teamsters Local 324.

They are part of a larger strike also affecting Western Beverage facilities in Eugene, Medford, Newport and Coos Bay, McKinney said. The union has reached an impasse with the company in contract negotiations, particularly over pension and insurance plans.

Norway: The country proposes alcohol tax increase and this may lead to the death of brewing industry

The Surtax-committee presents its proposals on June 29th, including the scrapping of tax-free sales of alcohol at airports and on ferries to the continent, as per Berry Bros & Rudd news.

As expected, the brewery-industry is strongly opposed to increased taxes on alcohol.

Lars Midtgaard, the CEO of Hansa Borg Breweries, noted that a tax increase would lead to increased cross-border trade and the death of Norway's brewery industry.

EU & Russia: Russian beer Baltika has its eyes on the European market

Baltika beer is ubiquitous back home in Russia. But the company's recent decision to permit production under licence in the UK marks a significant stage in the international development of the St Petersburg-based group, Financial Times News commented on June 26th.

But Anton Artemiev, its president, was in no doubt about the significance of the licensing deal with Scottish & Newcastle, Britain's biggest brewer. "The start of licensed production in western Europe of Baltika, one of Russia's most popular brands, is a natural step in the process of integrating Russia into the world economy," he said.

Interviewed recently in Edinburgh, Mr Artemiev said: "It is the first licence for consumer goods from modern Russia to a western company. "It is quite normal for it to be the other way around. We just hope there will be some more examples – but we are happy to start."

He said Baltika was particularly pleased to be coming to the UK – and not just because the country has a long history of brewing and demanding consumers.

"The UK is a country very much inhabited by Russian speakers – in London alone there are 300,000 Russian-speaking people, a lot of high-society people who spend a week in ... More Info

UK: SABMiller plc released its Annual Report for 2007

SABMiller plc released its Annual Report for 2007, in its press release, 27 June 2007.

“This has been another successful year for the group, with a strong volume performance and good earnings growth”, Meyer Kahn, Board of Director’s Chairman, said to the shareholders.

Our portfolio of developing and developed market operations generated 10% organic growth in lager volumes and 12% growth in earnings before interest, tax and amortisation (EBITA) on an organic, constant currency basis. Group EBITA now stands at US$3,591 million and the group EBITA margin increased to 17.4%, a rise of 20 basis points over the prior year. This translated into a 14% increase in profit before tax to US$2,804 million and a 10% increase in adjusted earnings per share to 120 US cents.

Total lager volumes stood at 216 million hectolitres, up 10% organically, and up 23% after taking into account the first full year of contributions from our South American businesses. Including soft drinks and other beverages, the group achieved total beverage volumes of 272 million hectolitres, up 10% on an organic basis and 23% above last year on a reported basis.

Net cash generated from operations, at over US$4,000 million, was 22% above the prior year, reflecting the overall ... More Info

Barley News
Scandinavia: Weather conditions favorable for malting barley

Changing weather patterns normally very healthy to spring barley, but many farmers now are finding that the weather systems are overreacting, Abildstrom & CoAps reported June 28.

Finland:

After very dry period they got reasonable amount of rain 23-26 June and now grain in excellent shape, well developed and almost 8-10 days earlier than last year.

Sweden:

Mid: Had some dry spells but like Finland now received sufficient rains to support a superior development. No diseases.

South: Lots of rain and here comes the record: the normal total june rainfall in 48 hrs. Grain standing excellent and so far these downpours did not (yet)cause lodging of any real importance. Development normal for the time and if weather goes dry could eventually see harvest commence still in July.

Denmark:

Same situation as in south of Sweden. Standing of spring barley excellent all the way from Northern Jylland via Funen till Zealand, whereas Lolland Falster had some nasty storms recently causing some lodging there. Diseases insignificant. In spite of the modest size of Denmark we have had torrential rains in the east and Malaga conditions in the west at the same time. Few days later scenario was opposite. We were indeed very advanced 2 weeks ago, ... More Info

USA: New two-rowed barley released by North Dakota Agricultural Experiment Station

Pinnacle, a new two-rowed barley variety, has been developed and released by the North Dakota Agricultural Experiment Station, says Al Schneiter, North Dakota State University Department of Plant Sciences chair, Seed Quest reported June 29.

Pinnacle has barley parentage of mostly experimental lines, but includes Logan and Foster in its early ancestry. The original cross was made in 1999 by Jerry Franckowiak, former NDSU two-rowed barley breeder who retired in 2006.

Pinnacle has a white hull, smooth awns and long rachilla hair. Stephen Neate, NDSU barley plant pathologist, says Pinnacle has greater resistance to spot blotch than Conlon, North Dakota's leading two-rowed barley, and approaches that of Lacey and Drummond, which are six-rowed varieties. Fusarium head blight resistance, measured as a percent of infected kernels, is slightly less than that of Conlon, while the deoxynivalenol (DON) level is slightly higher.

Based on four years of trials in North Dakota by the NDSU barley breeding program, Pinnacle has a 15 percent yield advantage over Conlon. Pinnacle heads out about three days later than Conlon, but has greater straw strength than Conlon and approaches that of the strongest six-rowed varieties.

One of Pinnacle's strengths is its excellent quality, making it a possible candidate for malting and ... More Info


Malting barley prices. French barley prices.
Nominal prices.

EURO = USD 1.3461 June 29, 2007 
 Crop year   2006   2007 
 Parity   FOB Creil   FOB Creil 
 Position   July 2006   July 2007 
Type   Variety  EURO  USD  EURO  USD 
2RS  Scarlett  200.00  269.50  234.00  315.00 
2RS  Prestige  199.00  268.00  233.00  314.00 
2RS  Cellar  198.00  266.50  232.00  312.50 
2RS  Sebastien  197.00  265.50  231.00  311.00 
2RS  Astoria  197.00  265.50  231.00  311.00 
2RS  Cork   197.00  265.50  231.00  311.00 
6RW  Esterel   171.00  230.50  208.00  280.00 

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

Theoretical malt prices.
  EURO = USD 1.3461 June 29, 2007 
Crop year  2006 
Parity  FOB Antwerp 
Position  June 2007-Sept 2007 
Conditioning  Bulk   In bags  Bulk containers Bags, containers
Malting barley variety  EURO  USD  EURO  USD  EURO  USD  EURO  USD 
2RS  Scarlett  420.50  565.50  443.00  596.50  437.00  588.00  447.50  602.00 
2RS  Prestige  419.00  564.00  441.50  594.50  435.50  586.50  446.00  600.50 
2RS  Cellar  417.50  562.50  440.50  593.00  434.50  584.50  445.00  599.00 
2RS  Sebastien  416.50  560.50  439.50  591.50  433.00  583.00  443.50  597.00 
2RS  Astoria  416.50  560.50  439.50  591.50  433.00  583.00  443.50  597.00 
2RS  Cork   416.50  560.50  439.50  591.50  433.00  583.00  443.50  597.00 
2RS   Average price  418.00  562.50  440.50  593.00  434.50  584.50  445.00  599.00 
6RW  Esterel   383.50  517.50  407.50  548.50  401.00  540.00  411.50  554.00 
*  Asia Malt 70/30  408.00  549.00  430.50  579.50  424.50  571.50  435.00  585.50 
**  Asia Malt 50/50  401.00  540.00  424.00  570.50  417.50  562.50  428.50  576.50 


  EURO = USD 1.3461 June 29, 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  443.50  597.00  466.50  627.50  460.00  619.50  470.50  633.50 
2RS  Prestige  442.50  595.50  465.00  626.00  459.00  617.50  469.50  631.50 
2RS  Cellar  441.00  593.50  464.00  624.50  457.50  616.00  468.00  630.00 
2RS  Sebastien  440.00  592.00  462.50  622.50  456.50  614.50  467.00  628.50 
2RS  Astoria  440.00  592.00  462.50  622.50  456.50  614.50  467.00  628.50 
2RS  Cork   440.00  592.00  462.50  622.50  456.50  614.50  467.00  628.50 
2RS   Average price  441.00  593.50  464.00  624.50  457.50  616.00  468.00  630.00 
6RW  Esterel   410.50  554.00  434.50  584.50  428.00  576.00  438.50  590.50 
*  Asia Malt 70/30  432.00  581.50  197.00  612.50  191.00  604.00  201.50  618.50 
**  Asia Malt 50/50  426.50  573.50  197.00  604.50  191.00  596.00  201.50  610.50 

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

Canada, Barley Supply and Disposition

  2004-2005   2005-2006   2006-2007 f  2007-2008 f 
 Seaded area,
 '000 ha		 4,678  4,440  3,861  4,380 
 Harvested area,
 '000 ha		 4,050  3,889  3,362  3,910 
 Yield,
 tonne/ha 		 3.26  3.21  2.98  3.07 
 Production,
 '000 metric tonnes		 13,186  12,481  10,005  12,000 
 Imports,
 '000 metric tonnes		 83  46  45  35 
 Total Supply,
 '000 metric tonnes		 15,962  15,962  13,338  13,435 
 Exports,
 '000 metric tonnes 		 1,975  2,975  1,950  2,100 
 Food & Industry Use,
 '000 metric tonnes		 268  167  230  300 
 Feed, Waste, Dockage,
 '000 metric tonnes		 9,417  9,192  9,373  9,035 
 Total Domestic Use,
 '000 metric tonnes		 10,073  9,698  9,988  9,735 
 Carry-out Stocks,
 '000 metric tonnes		 3,435  3,289  1,400  1,600 
 Average Price,
 CA$/tonne		 112  110  155-175  150-170 
f: forecast, Agriculture and Agri-Food Canada, May 29, 2007
Newsletter SummaryTop

Graph of the week

Source: ABARE. June, 2007
These Days in Business History
28 June
1820 Tomato is proven nonpoisonous
1894 Labor Day established as a federal employees holiday
1939 Pan Am opens southern route transatlantic air service (Dixie Clipper)

29 June
1767 - The British Parliament approved the Townshend Revenue Acts. The acts imposed import duties on glass, lead, paint, paper and tea shipped to America.
1860 - The first iron-pile lighthouse was completed at Minot’s Ledge, MA.
1936 - The Empire State Building television transmitter was used to demonstrate high definition television (343 lines) to RCA's Licensees.
1960 - BBC Television Centre in West London opened.

30 June
1834 Congress creates Indian Territory (now Oklahoma)
1841 - The Erie Railroad rolled out its first passenger train on this day.
1936 40 hour work week law approved (federal)
1948 Transistor as a substitute for Radio tubes announced (Bell Labs)

01 July
1861 1st public schoolhouse opens at Washington & Mason St, SF
1874 - The first zoo in the United States opened in Philadelphia, PA.
1875 Universal Postal Union established
1934 1st x-ray photo of entire body, Rochester, NY
1943 1st withholding tax from paychecks
Agenda
June 2007:
Junifest - Bratislava Beer Festival
Japan-Asia Beer Cup 2007, Tokyo
InterFood Mongolia
American Beer Fest
ASBC Annual meeting
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

July 2007:
Olesummer Festival 2007
Portland International Beer Festival
51 Congress of The International Hop Growers Convention

August 2007:
Qingdao International Beer Festival, China
International Berlin Beer Festival
Great British Beer Festival
1st International Brewers Symposium Hop Flavor and Aroma
Great Japan Beer Festival 2007 in Osaka
Brew Drinks China 2007
The 13th Australian Barley Technical Symposium, Australia

September 2007:
Belgian Beer Weekend
Great Canadian Beer Festival
Great British Beer Festival
WBA Associate in Brewing Technology Program in Chicago
WBA International Diploma in Brewing Technology Program Chicago & Munich Campuses
WorldFood Moscow

October 2007:
The International Brewing Convention 2007 , UK
Newport International Oktoberfest, USA
World Beer Festival Durham , USA
Tasting Australia
2007 Master Brewers Association of the Americas Convention

November 2007:
The International Hop Growers’ Convention (IHGC) Meetings, Germany
International convention for the drink technology and PET industry, India
More events are available on site e-malt.com

Copyright © E-Malt s.a. 2007