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Newsletter Summary

Currency rates
Equities of largest breweries
Market prices change trend
Top industry news
Brewery news
Malt 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 19 - July 22, 2007
Crop 2006
2rs Barley €197.0-199.0
6rw Barley €170.0-172.0
2rs Malt €417.5-419.5
6rw Malt €383.0-385.0
Crop 2007
2rs Barley €240.0-242.0 0.82%
6rw Barley €212.0-214.0 0.47%
2rs Malt €451.0-453.0 0.55%
6rw Malt €415.5-417.5 0.36%

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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Other e-malt.com newsletters

Last five newsletters
See this Newsletter!
Newsletter 29a, 2007

See this Newsletter!
Newsletter 28b, 2007

See this Newsletter!
Newsletter 28a, 2007

See this Newsletter!
Newsletter 27b, 2007

See this Newsletter!
Newsletter 27a, 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


E-malt.com graphs

All graphs issued with e-malt.com newsletters are published in "Graph" section of e-malt.com site.
Last five graphs

Open this Table!
USA Malt Exports by country of destination 2006 & 2005

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Netherlands Beer Production and Export (1990 - 2006)

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Australia Barley Production and Malting Barley Export

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World Beer Production

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EU 2 row Spring Malting Barley production (crop year 2006/07)



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.



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E-malt.com Newsletter 29b
July 19 - July 22, 2007

Quote of the week

"Crises are challenges, not calamities."

Guy Verhofstadt


Currency Rates
Base Currency: Euro, EUR
on 20-July-2007

1 EUR = 1.3808 USD
1 EUR = 0.6733 GBP
1 EUR = 1.4418 CAD
1 EUR = 1.5719 AUD
1 EUR = 168.433 JPY
1 EUR = 2.5628 BRL
1 EUR = 35.1126 RUB
1 EUR = 10.4569 CNY
Base Currency: US Dollar
on 20-July-2007

1 USD = 0.7243 EUR
1 USD = 0.4876 GBP
1 USD = 1.0442 CAD
1 USD = 1.1385 AUD
1 USD = 121.986 JPY
1 USD = 1.856 BRL
1 USD = 25.429 RUB
1 USD = 7.573 CNY

EUR/USD Chart

Equities of the Largest Breweries

Top Industry News
Philippines: San Miguel raises $500 million in a hybrid bond issue to enter new ventures... Click here

Bulgaria: Bulgaria H1 beer market grows 16% y/y... Click here

India: United Breweries & SABMiller in frothy battle over top spot... Click here

Czech Republic: Bernard brewery raises domestic sales, exports in H1... Click here

South Africa: SABMiller South African bond three times oversubscribed... Click here

North & South America: Malt stocks exhausted... Click here

China: China imported 492,000 tons of malting barley in Jan/May 2007... Click here

Europe: 2007 barley crop prospects... Click here

World: Barley markets in June dominated by good crop prospects in North America and Australia... Click here

More News
Tunisia: Tunisia buys feed barley in tender ... More Info

UK: Lord Blyth of Rowington to retire as Chairman of Diageo to be succeeded by Dr Franz Humer ... More Info

Belgium: InBev shares jump on Heineken guidance ... More Info

UK: SABMiller implements collaboration software to improve team working ... More Info

UK: Heineken appoints UK managing director from within ... More Info

USA: Molson Coors Brewing upgraded to 10 ... More Info

India: Carlsberg ratings affirmed on strong position ... More Info

Belgium: InBev’s Leffe launches new website ... More Info

Australia: ABB and the University of Adelaide sign five-year barley breeding agreement ... More Info

UK: Heineken "neutral," target price raised ... More Info

Canada: Ramapo Valley Brewery to open new brewery ... More Info

USA: New North Dakota State University publication available for malting barley producers ... More Info

UK: Wells & Young's pours £2 mil into Courage beer ... More Info



Brewery News
Philippines: San Miguel raises $500 million in a hybrid bond issue to enter new ventures

San Miguel Corp., Southeast Asia's biggest food and drinks group, is bringing forward the planned flotation of its domestic beer business and will raise $500 million in a hybrid bond issue to help fund its entry into new businesses, Reuters reported July 20.

The Philippines group stunned investors last month when it said it would spin off its beer and regional packaging divisions and invest in mining, infrastructure and power.

Critics said San Miguel has no prior experience in heavy industry, and spinning off its core businesses will restrict the parent company's access to profits and cash flow.

San Miguel President Ramon Ang's comments in an interview with Reuters on Thursday indicated the company has accelerated its programme to follow a new path. Previously, the listing of the flagship beer business was scheduled for next year.

Moody's has put the company's rating on review for a possible downgrade, while Standard & Poor's has also placed a watch on its rating with negative implications.

"We are quite familiar with the power structure, more than most of the players in that sector," Ang, a mechanical engineer by training, told Reuters on the sidelines of an investment conference on the resort island of ...
More Info


Bulgaria: Bulgaria H1 beer market grows 16% y/y

Domestic beer consumption rose 16% to 2.58 mil hectoliters in the first half of 2007, shows data released by the Union of Bulgarian Brewers (UBB), Dnevnik reported July 20.

Actual sales are somewhat higher because the UBB figures discount the business of non-member Ledenika&MM.

Full-year growth cold reach 15%, said UBB chairman Vladimir Ivanov.

Although beer exports have seen solid growth so far in 2007, especially shipments to neighboring Romania, they still account for only 1-2 of overall output. Their share is seen at 3% by the end of the year.

The spell of wet weather in the spring decimated the bulk of barley crops, doubling the selling price of the key beer ingredient. At the moment, brewing barley sells at 300-350 levs/t, up from 170-205 levs/t a year ago.
The barley situation will prompt a hike in beer prices of around 15%, said Carlsberg Bulgaria executive director Alexander Grancharov.

The local beer makers utilise 120,000 tons of brewing barley and 450 tons of natural hop and hop products annually.

The UBB said the current average price of 0.5 liters of beer is around 0.59 levs. More premium brands retail at 0.74-0.94 levs per 0.5 liters. Beer imports sell at 1.55 levs per 0.5 liters. The average ...
More Info


India: United Breweries & SABMiller in frothy battle over top spot

United Breweries (UB) and SABMiller, the country’s biggest beer companies, are engaged in a frothy battle over market leadership of their respective brands, The Economic Times published July 20. UB claims its Kingfisher Strong has consolidated its position as the largest selling beer brand, having sold 95 lakh cases in the first quarter of the current fiscal, while SABMiller says its Haywards 5000 has reclaimed leadership in the same period.

According to SABMiller, its Haywards 5000 sold 88 lakh cases in the first quarter of this year, against Kingfisher Strong’s 87 lakh cases. When contacted, SABMiller’s director (corporate affairs) Sundeep Kumar said: “Haywards 5000 has outsold Kingfisher Strong by one lakh cases.” But UB’s executive V-P (sales & marketing) Shekhar Ramamurthy begs to differ.

“We have been ahead of Haywards 5000 for several quarters now. We believe we had a substantial lead over them in FY07. In Q1, we are ahead by over a million cases,” he told ET. In FY07, Kingfisher Strong reported a volume depletion of 26 million cases, which the company said was well ahead of Haywards 5000. SABMiller did not divulge standalone volume figures for Haywards 5000 during FY07 but said its entire portfolio of strong ...
More Info


Czech Republic: Bernard brewery raises domestic sales, exports in H1

Czech brewery Rodinny pivovar Bernard produced 73,000 hectolitres of beer in H1, 6.4 percent more than a year ago, and sold more beer on both the domestic market and abroad, spokesman Zdenek Mikulasek told CTK, July 17.

Bernard exports beer to Slovakia, Sweden, Russia, Australia and USA, among other countries.

"We have been breaking records, especially in April, May and June, mainly thanks to good weather," said Mikulasek.

In Q1, the brewery produced 30,191 hectolitres, 1 percent more year-on-year, and its sales rose by 4 percent to Kc47.1 mil.

In the full of last year, output reached 140,000 hectolitres and sales Kc219 mil.


South Africa: SABMiller South African bond three times oversubscribed

Brewer SABMiller's 1.6 billion rand ($230.9 million) local bond was launched on Thursday and was three times oversubscribed, Rand Merchant Bank said, according to Reuters, July 19.

SABMiller issued a 5-year bond to repay part of existing loans used to fund its South African business.

"Strong demand from both local and offshore investors helped tighten the pricing to the bottom end of the pricing guidance of 1 percent to 1.2 percent provided before the auction," the bank said in a statement.

RMB said the bond – which settles on Thursday – was SABMiller's first foray into the market since 1992 when it was the first company to issue a bond in South Africa.

Malt News
North & South America: Malt stocks exhausted

In North and South America malt stocks are also exhausted, the former one-month inventory, which was considered a must, has disappeared, analysts reported July 2. It is rumoured that the lack of malt could lead to temporary beer production stops in Brazil and Venezuela. No new malthouse construction is planned in the NAFTA countries, but Argentina will add malting capacities of min. 150.000 tons. In North America the construction of new malting factories has become so expensive, that maltsters say it is not worthwhile unless malting margins of US$ 200,- per ton can be achieved.

Barley News
China: China imported 492,000 tons of malting barley in Jan/May 2007

In the period of January/May of this year China imported 492.000 tons of malting barley, about half the quantity of last year’s arrivals, according to analysts, July 2. 270.000 tons came from Australia, 215.000 tons from Canada. China shows an enormous flexibility in its barley imports, reacting to world market prices. As price levels will remain high in the new crop year, we shall see whether China can afford the same policy again. But it cannot be denied that the country has made great progress in growing more malting barley of its own.


Europe: 2007 barley crop prospects

Spain recorded heavy rainfalls all spring and early summer, the IGC forecasts a barley crop of 11,2 Mill. Tons, 3,1 Mill. tons more than a year ago, analysts said July 2. Spain will need hardly any imports of feed, no imports of malting barley, but may at least supply the needed barley supplies to neighbour Portugal.

The French barley crop had looked thin since the April draught, and the present rains put all French grains in a precarious state. The same is true for Germany, where a small acreage and draught damages will result in an import demand of about 1 Mill. tons of malting barley. Prospects from the Czech Republic down to the Black Sea are doubtful and certainly less than average, in quantity and quality. England’s crop seems a little better than the Continent’s. Scotland, all of Scandinavia and Northern Poland report excellent conditions.


World: Barley markets in June dominated by good crop prospects in North America and Australia

Barley markets in June were dominated by good crop prospects in North America and Australia, the export quota system of the Ukraine and purchases of Saudi Arabia, according to analysts, July 2.

International grain houses sold several cargoes of optional origin barley to S.Arabia at prices around and above US$ 300,- CIF. The Saudi government, however, did not react to higher markets, but left import subsidies and domestic prices unchanged at US$ 245,- CIF. It is reported that local stocks and arrivals of barley will be sufficient for a few months. Origins of the barley sales are the Northern EU, the Black Sea incl. Romania and Bulgaria, and it is rumoured, also Canada and China. ABB Grain of Australia concluded a five year LTA with United Feed of Saudi Arabia for min. 1 Mill. tons annually.


Malting barley prices. French barley prices.
Nominal prices.

EURO = USD 1.3808 July 20, 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  276.50  243.00  335.50 
2RS  Prestige  199.00  275.00  242.00  334.50 
2RS  Cellar  198.00  273.50  241.00  333.00 
2RS  Sebastien  197.00  272.50  240.00  331.50 
2RS  Astoria  197.00  272.50  240.00  331.50 
2RS  Cork   197.00  272.50  240.00  331.50 
6RW  Esterel   171.00  236.50  213.00  294.50 

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

Theoretical malt prices.
  EURO = USD 1.3808 July 20, 2007 
Crop year  2006 
Parity  FOB Antwerp 
Position  July 2007-Sept 2007 
Conditioning  Bulk   In bags  Bulk containers Bags, containers
Malting barley variety  EURO  USD  EURO  USD  EURO  USD  EURO  USD 
2RS  Scarlett  421.00  581.00  443.50  612.50  437.50  604.00  448.00  618.50 
2RS  Prestige  419.50  579.50  442.50  610.50  436.00  602.00  446.50  616.50 
2RS  Cellar  418.50  577.50  441.00  609.00  435.00  600.50  445.50  615.00 
2RS  Sebastien  417.00  576.00  440.00  607.50  433.50  598.50  444.50  613.50 
2RS  Astoria  417.00  576.00  440.00  607.50  433.50  598.50  444.50  613.50 
2RS  Cork   417.00  576.00  440.00  607.50  433.50  598.50  444.50  613.50 
2RS   Average price  418.50  577.50  441.00  609.00  435.00  600.50  445.50  615.00 
6RW  Esterel   384.00  531.50  408.00  563.00  401.50  554.50  412.50  569.50 
Asia Malt 70/30  408.50  564.00  431.00  595.50  425.00  586.50  435.50  601.50 
**  Asia Malt 50/50  401.50  554.50  424.50  586.00  418.50  577.50  429.00  592.00 


  EURO = USD 1.3808 July 20, 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  454.50  627.50  477.50  659.00  471.00  650.50  481.50  665.00 
2RS  Prestige  453.50  626.00  476.00  657.50  470.00  648.50  480.50  663.50 
2RS  Cellar  452.00  624.50  475.00  655.50  468.50  647.00  479.50  661.50 
2RS  Sebastien  451.00  622.50  473.50  654.00  467.50  645.50  478.00  660.00 
2RS  Astoria  451.00  622.50  473.50  654.00  467.50  645.50  478.00  660.00 
2RS  Cork   451.00  622.50  473.50  654.00  467.50  645.50  478.00  660.00 
2RS   Average price  452.00  624.50  475.00  655.50  468.50  647.00  479.50  661.50 
6RW  Esterel   416.50  576.50  440.50  608.00  434.50  599.50  444.50  614.00 
Asia Malt 70/30  441.50  610.00  464.50  641.50  458.50  632.50  469.00  647.50 
**  Asia Malt 50/50  435.00  600.50  457.50  632.00  451.50  623.50  462.00  638.00 

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


EU Malt Export Licence Fixations

(in tonnes) 2001-2002 2002-2003 2003-2004 2004-2005 2005-2006 Jul 01, 2006 -
June 26, 2007  
 France   701,134  661,772  774,761  674,140  648,338  460,829 
 Germany   468,314  408,063  422,047  295,876  236,735  235,683 
 Belgium   296,368  287,850  317,292  418,344  551,396  551,255 
 Bulgaria   1,270 
 U.K. 350,621  294,995  443,501  201,892  190,862  144,044 
 Finland   91,890  100,758  114,165  64,986  79,357  59,783 
 Denmark    96,812  94,791  90,452  74,743  68,809  72,374 
 Sweden   101,000  76,916  78,369  88,840  96,100  90,550 
 Netherlands   51,310  66,219  80,703  49,128  92,383  78,754 
 Ireland   35,145  31,140  38,900  56,924  7,001  2,250 
 Austria   8,840  8,620  60,211  16,954  38,932  22,743 
 Spain   2,400  5,640  10,000 
 Greece   1,744  1,306  979  130 
 Portugal   221  85  695  850  1,088  992 
 Czech Republic       34,340  82,062  77,036  41,769 
 Poland       7,604  32,084  167 
 Hungary       2,830  85,792  16,865  5,468 
 Slovakia       1,000  76,916  75,863  23,007 
 Lithuania      54  172 
 Total EU   2,205,799  2,038,157  2,477,849  2,219,661  2,180,986  1,725,941 

  Total Wheat malt, tonnes  
Total 2001 - 2002    12,805 
Total 2002 - 2003    30,908 
Total 2003 - 2004    15,768 
Total 2004 - 2005    8,162 
Total 2005 - 2006   4,693 
July 01, 2006 - June 26, 2007   5,379 
   
  Total Roasted malt, tonnes  
Total 2001 - 2002    23,480 
Total 2002 - 2003    23,603 
Total 2003 - 2004    24,438 
Total 2004 - 2005    27,212 
Total 2005 - 2006   23,257 
July 01, 2005 - June 26, 2007   28,921 
Newsletter SummaryTop

Graph of the week


Source: USDA

These Days in Business History
19 July
1860 1st railroad reaches Kansas
1967 1st air conditioned New York City subway car (R-38 on the F line)

20 July
1837 Opening of London's first major railway station - at Euston
1868 1st use of tax stamps on cigarettes
1992 Charles Schwab opens its “mutual fund supermarket,” allowing investors to choose from hundreds of different funds without paying transaction fees, as it introduces its OneSource program.

21 July
1955 Ian Donald made his first investigation of the use of ultrasound in medical diagnosis
1969 Astronaut Neil A. Armstrong was the first man to walk on the Moon

22 July
1872 Mahlon Loomis patents wireless radio
1961 1st in-flight movie shown, TWA

Agenda
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