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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

August 15 - August 19, 2007
Crop 2006
2rs Barley €197.0-199.0
6rw Barley €170.0-172.0
2rs Malt €418.0-420.0
6rw Malt €383.5-385.5
Crop 2007
2rs Barley €273.0-276.0
6rw Barley €241.0-243.0
2rs Malt €493.0-495.0
6rw Malt €452.0-453.0

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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Other e-malt.com newsletters

Last five newsletters
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Newsletter 33a, 2007

See this Newsletter!
Newsletter 32b, 2007

See this Newsletter!
Newsletter 32a, 2007

See this Newsletter!
Newsletter 31b, 2007

See this Newsletter!
Newsletter 31a, 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

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World Leading Beer Companies by Production Volume in 2006

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EU-27 Malt Capacity and Demand (2008)

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Belgium Beer Production, Export and Consumption (1980 - 2006)

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World Barley Production (1985/86 - 2007/08f)

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USA Malt Exports by country of destination 2006 & 2005



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 33b
August 15 - August 19, 2007

Quote of the week

"Failures are but mile-posts on the road to success. "

Italian Proverb


Currency Rates
Base Currency: Euro, EUR
on 17-August-2007

1 EUR = 1.3416 USD
1 EUR = 0.6762 GBP
1 EUR = 1.4485 CAD
1 EUR = 1.676 AUD
1 EUR = 154.633 JPY
1 EUR = 2.7884 BRL
1 EUR = 34.5825 RUB
1 EUR = 10.2117 CNY
Base Currency: US Dollar
on 17-August-2007

1 USD = 0.7454 EUR
1 USD = 0.5041 GBP
1 USD = 1.0797 CAD
1 USD = 1.2488 AUD
1 USD = 115.261 JPY
1 USD = 1.9583 BRL
1 USD = 25.7761 RUB
1 USD = 7.6113 CNY

EUR/USD Chart

Equities of the Largest Breweries

Top Industry News
Latvia: Royal Unibrew buys Latvian brewery Livu Alus... Click here

China: Huiquan Brewery net profit up 30.71% in 1H 2007... Click here

World: Beer volumes growth comes from emerging markets... Click here

Malaysia: Brewers urge Government not to increase excise duties for beer and stout... Click here

Czech Republic: SABMiller Czech unit 1H 2007 sales up 5.4% on higher exports... Click here

USA: Craft beer segment registered a double-digit growth in H1 2007... Click here

Finland: Finnish brewery Olvi Q2 profits, sales up y/y... Click here

World: The world trade of malt in 2006/07 is estimated to slightly increase year-on-year... Click here

China: China’s barley crop is forecast to be almost similar to the last year’s... Click here

EU: Barley crop 2007 down 0.5 mln tonnes from July’s estimate... Click here

More News
South Africa: South Africa – the fastest growing beer industry in the World ... More Info

Belarus: Beer output up 9.7% in H1 2007 ... More Info

Germany: 6 million liters of beer for Oktoberfest ... More Info

Belarus: 150.000 tonnes of barley to be secured by the Government this week ... More Info

Saudi-Arabia: A monopoly premium position of barley cannot hold forever ... More Info

Thailand: Thai Beverage invests Bt2.54 billion to improve logistics system ... More Info

Hungary: Heineken at home in Sopron ... More Info

Sweden: Carlsberg Sweden appoints new CEO ... More Info

Canada: Big Rock Brewery Income Trust to proceed with reorganization ... More Info

Nigeria: German brewery acquires stake in International Breweries ... More Info

Namibia: Peroni Nastro Azzurro to be launched in Namibia ... More Info

USA: Wisconsin lawmakers back beer industry ... More Info

Belarus: Belsolod stocks 54.4 thousand tonnes of brewer’s barley ... More Info

New Zeeland & UK: DB Breweries’ launch of Monteith’s brand in UK successful ... More Info

Russia: Welsh brewery tries to convince Russian drinkers to select traditional ales ... More Info



Brewery News
Latvia: Royal Unibrew buys Latvian brewery Livu Alus

Danish brewer Royal Unibrew AS said it has bought Latvia's third-largest brewery Livu Alus for 130 million dkr (about $23 million US), according to AFX News Limited, August 15.

The acquisition, which is subject to approval by relevant authorities, is expected to be finalized at the beginning of the fourth quarter 2007.

Royal Unibrew said the acquisition will have a minor negative effect on its pretax profit in 2007 and 2008 due to market expenses and integration costs, while a positive earnings contribution and key ratios in line with group targets are seen after 2008.

The group said it expects synergies from cooperation between Livu Alus and its existing activities in the Baltic countries, which are identified as a focus area in its "Mach II" strategic plan.

Livu Alus has around 125 employees and posted 2006 net sales of 67 mln dkr (about $12 million US).


China: Huiquan Brewery net profit up 30.71% in 1H 2007

Fujian Yanjing Huiquan Brewery Co., Ltd., a leading Chinese beer brewer, said its net profit for the first half of this year was CNY 16.3241 million, soaring 30.71% year on year, The Financial Times Limited reported July 14.

The company's earnings per share reached CNY 0.07 during the period, surgin 40% compared to a year ago.

Yanjing Huiquan (Fuzhou) Brewery Co., Ltd., a 99%-owned subsidiary set up by the Fujian-based beer manufacturer in November 2004, sold a total of 28,300 kiloliters of beer in the first six months of this year, growing 12.46% over the previous year, and achieved net profit of CNY 1.1085 million.

Currently, the company is busy with a series of technology and equipment upgrade projects. The project that changes all the oil-powered boilers into coal-powered boilers has almost been brought to a successful end by the end of June 2007.

Other projects like installation of dust control equipment and other related auxiliary equipment have entered the final stage.


World: Beer volumes growth comes from emerging markets

Perhaps the most important trend to have shaped the global brewing business over the last decade is that volume growth has primarily come from emerging markets, analysts from SABMiller recently reported. Since 2000, the compound annual growth rate (CAGR) has been 2.8% for the global beer market. The same period, however, has seen CAGRs of 5.1% in Asia, 3.9% in Africa and the Middle East, and a substantial 6.2% in Eastern Europe.

This trend is likely to continue. Between 2006 and 2011, the most significant overall volume growth is likely to come from Asia (115 million hectolitres), Central and South America (41 million hectolitres) and Eastern Europe (41 million hectolitres), rewarding brewers with strong footprints in emerging markets .

Consumers trading up

Economic growth and rising disposable incomes are encouraging consumers in some markets to trade up into the beer category away from cheaper, traditional, local spirits and non commercially brewed beer. Brewers are nurturing this trend by offering more appealing and affordable products. In addition to those trading up into commercially produced beer, there is much trading up within the beer category as consumers choose premium brands more frequently .

For example, in developed markets such as the USA, imported premium ...
More Info


Malaysia: Brewers urge Government not to increase excise duties for beer and stout

The Confederation of Malaysian Brewers Bhd (CMBB) urged the government not to increase excise duties for beer and stout in the 2008 Budget, but maintain it at its present level, The Star reported August 14.

CMBB executive director Tan Sri Datuk Ajit Singh said the industry has been hit by increases in excise duties over the years.

"The current excise duties for beer and stout in Malaysia are second highest in the world after Norway," he said, adding that the present excise duties level was already high by international standard.

From 1991 until last year, the excise duties have increased by 169%.

"The fear is that if the excise duties continue to increase, it would definitely affect our sustainability and viability of business," he said after launching CMBB's informative website on Tuesday.

"It would have a kind of snow balling effect because if the excise duties increase further, the prices of beer goes up. This will affect our competitiveness, cost of business, sales for contracts and revenue will fall down," he said.


Czech Republic: SABMiller Czech unit 1H 2007 sales up 5.4% on higher exports

Plzensky Prazdroj, a leading Czech brewer, reported its half-year sales results, in a press release, August 15. Domestic and export combined sales volumes exceeded 4.5 mil. hectolitres, reflecting a year-on-year increase of 5.4%. Sales were driven mainly by export volumes with an increase of 12.5% year-on-year.

Plzensky Prazdroj thus confirmed its position as the largest beer exporter in the Czech Republic. The total volume of Plzensky Prazdroj’s brands exported abroad (i.e. exclusive of the licensed productions) grew by 12.5%, reaching 430,000 hectolitres in the first half-year 2007. Pilsner Urquell, major export brand, recorded 11% increase year-on-year. The key export markets remain Germany, USA and Slovakia however some new countries have been added to Plzensky Prazdroj’s export map, such as Albania, Georgia and Montenegro.

Domestic sales growth was 4.8% compared to the 1st half-year 2006 – in line with the Czech beer market overall development. The sales of the Czech “bestseller” Gambrinus reflected 2.2% growth in H1 of 2007, while international premium brand Pilsner Urquell grew by 4% in the Czech Republic.

“Our sales results are satisfactory, in line with the market development. A positive contribution to the success of our brands was, ...
More Info


USA: Craft beer segment registered a double-digit growth in H1 2007

The volume of craft beer sold in the first half of 2007 rose 11% compared to this same period in 2006 and dollar growth increased 14%, The Brewers Association reported August 15. For the first time ever craft beer has exceeded more than a 5% dollar share of total beer sales.

Overall, the U.S. beer industry sold one million more barrels in the first half of 2007 compared to 2006, with 400,000 of these new barrels produced by craft breweries. This equates to 3.768 million barrels of craft beer sold in the first two quarters of 2007 compared to 3.368 million barrels sold in the first half of 2006.

Scan data from Information Resources, Inc. provide additional data points that confirm strength for the segment. Craft beer sales in the supermarket channel through July 15th, 2007 showed a 17.4% increase in dollar sales compared to the same period in 2006. This growth in sales was higher than any other alcohol beverage category.

“The 1,400 small, independent and traditional craft brewers in the U.S. have hit their stride,” said Paul Gatza, Director of the Brewers Association.“United States craft brewers are making many of the world’s best beers, and the marketplace is ...
More Info


Finland: Finnish brewery Olvi Q2 profits, sales up y/y

Finnish brewery Olvi Oyj reported a rise in second-quarter profits, helped by growing sales, but warned its July-September earnings may be dented by the rainy and cool midsummer weather, according to Reuters, August 16. Olvi's April-June operating profit rose 30 percent year-on-year to 7.8 million euros ($10.5 million). Sales rose 25 percent to 60.5 million euros.

The company repeated it expects 2007 sales to grow year-on-year, and said operating profit would also be higher than in 2006.

Shares in Olvi were 0.9 percent lower at 25.50 euros by 0719 GMT, compared with 2.4 percent weaker Helsinki bourse general index.

Malt News
World: The world trade of malt in 2006/07 is estimated to slightly increase year-on-year

International Grain Council (IGC) estimates the world trade of malt in 2006/07 at 4.6 million tonnes, a small plus from a year earlier. Malt trade figures have not increased very much since a number of years, because new malting capacities in beer producing countries (Russia and China) have absorbed the rising demand.

IGC estimates the world malt consumption at 20.3 million tonnes, of which 19.3 million tonnes for brewing. The figures of our analysts show a malt capacity figure of 19.7 million tonnes, another proof that new capacities are urgently needed.

Barley News
China: China’s barley crop is forecast to be almost similar to the last year’s

China’s barley crop will be similar or somewhat smaller than last year’s, market analysts have recently commented in a report.

The South eastern part of the country around Shanghai has produced a large crop, but as usual of mediocre quality. Crops in Xinjiang are good, in Gansu it was too dry in the West, but fine in the East. Further North there are major changes. Farmers in Heilongjiang turned away from barley in favour of more rewarding corn and soybeans, the acreage was halved. But in Inner Mongolia barley acres doubled, soil and climate remind of the Canadian prairies, ideal for barley production. It is forecast that new malting industries may arise in the province.


EU: Barley crop 2007 down 0.5 mln tonnes from July’s estimate

The agricultural analyst, Strategie Grains, has published its revised estimates on Wednesday, August 16th. The EU total cereal production is now expected to fall 2% from 2006 to 257 million tonnes. This is 13.7 million tonnes down on the July estimate.

The total EU barley crop has been corrected by Strategie Grains to 57.68 million tonnes, 0.5 million tonnes down from July’s estimate. France and Germany show the largest downward revisions from last month but the EU output remains, however, higher than last year’s production of 55.86 million tonnes.

Malting barley quality varies across the EU; with improvement from last season expected in the Northern Europe, around average in France with some concerns with high protein content.


Malting barley prices. French barley prices.
Nominal prices.

EURO = USD 1.3416 August 17, 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  268.50  277.00  372.00 
2RS  Prestige  199.00  267.00  276.00  370.50 
2RS  Cellar  198.00  266.00  275.00  369.00 
2RS  Sebastien  197.00  264.50  274.00  367.50 
2RS  Astoria  197.00  264.50  274.00  367.50 
2RS  Cork   197.00  264.50  274.00  367.50 
6RW  Esterel   171.00  229.50  242.00  325.00 

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

Theoretical malt prices.
  EURO = USD 1.3416 August 17, 2007 
Crop year  2006 
Parity  FOB Antwerp 
Position  Aug 2007-Sept 2007 
Conditioning  Bulk   In bags  Bulk containers Bags, containers
Malting barley variety  EURO  USD  EURO  USD  EURO  USD  EURO  USD 
2RS  Scarlett  421.50  565.50  444.00  596.00  438.00  587.50  448.50  601.50 
2RS  Prestige  420.00  563.50  443.00  594.00  436.50  586.00  447.50  600.00 
2RS  Cellar  419.00  562.00  441.50  592.50  435.50  584.00  446.00  598.50 
2RS  Sebastien  417.50  560.50  440.50  591.00  434.50  582.50  445.00  596.50 
2RS  Astoria  417.50  560.50  440.50  591.00  434.50  582.50  445.00  596.50 
2RS  Cork   417.50  560.50  440.50  591.00  434.50  582.50  445.00  596.50 
2RS   Average price  419.00  562.00  441.50  592.50  435.50  584.00  446.00  598.50 
6RW  Esterel   384.50  517.50  408.50  548.00  402.50  539.50  413.00  554.00 
Asia Malt 70/30  409.00  548.50  431.50  579.00  425.50  571.00  436.00  585.00 
**  Asia Malt 50/50  402.50  539.50  425.00  570.50  419.00  562.00  429.50  576.00 


  EURO = USD 1.3416 August 17, 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  496.50  666.00  519.00  696.50  513.00  688.00  523.50  702.50 
2RS  Prestige  495.00  664.50  518.00  694.50  511.50  686.50  522.50  700.50 
2RS  Cellar  494.00  662.50  516.50  693.00  510.50  685.00  521.00  699.00 
2RS  Sebastien  492.50  661.00  515.50  691.50  509.50  683.00  520.00  697.50 
2RS  Astoria  492.50  661.00  515.50  691.50  509.50  683.00  520.00  697.50 
2RS  Cork   492.50  661.00  515.50  691.50  509.50  683.00  520.00  697.50 
2RS   Average price  494.00  662.50  516.50  693.00  510.50  685.00  521.00  699.00 
6RW  Esterel   452.50  608.00  476.00  638.50  470.00  630.50  480.50  644.50 
Asia Malt 70/30  481.50  646.50  504.50  677.00  498.50  668.50  509.00  682.50 
**  Asia Malt 50/50  473.50  635.50  496.50  666.00  490.00  657.50  500.50  671.50 

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 as of August 3, 2007

  2004-2005   2005-2006   2006-2007 f*)  2007-2008 f*) 
 Seaded area,
 '000 ha
4,678  4,440  3,690  4,396 
 Harvested area,
 '000 ha
4,050  3,889  3,292  3,924 
  Yield,
 tonne/ha 
3.26  3.21  2.91  3.06 
 Production,
 '000 metric tonnes
13,186  12,481  9,573  12,000 
 Imports,
 '000 metric tonnes
83  46  45  35 
 Total Supply,
 '000 metric tonnes
15,962  15,962  12,907  13,535 
 Exports,
 '000 metric tonnes 
1,975  2,975  1,900  2,700 
 Food & Industry Use,
 '000 metric tonnes
268  167  230  300 
 Feed, Waste, Dockage,
 '000 metric tonnes
9,417  9,192  8,892  8,835 
 Total Domestic Use,
 '000 metric tonnes
10,073  9,698  9,507  9,535 
 Carry-out Stocks,
 '000 metric tonnes
3,435  3,289  1,500  1,300 
 Average Price,
 CA$/tonne
112  110  165  150-170 

Source: Agriculture and Agri-Food Canada, August 3, 2007. f*) - forecast.
Newsletter SummaryTop

Graph of the week



These Days in Business History
August 16
1870 Fred Goldsmith demonstrates curve ball isn't an optical illusion
1955 Fiat Motors orders 1st private atomic reactor
1991 Belgium census is 10,000,963 inhabitants

August 17
1802 In one of history's greatest acts of inventive daring, Robert Fulton launches his new steamboat from the north shore of Manhattan.
1998 The Russian government devalues the ruble and declares a moratorium on paying its foreign debt, a de facto default that sends the global bond markets crashing, triggers the collapse of the giant U.S. hedge fund Long-Term Capital Management and sends shockwaves through the world's financial system.

August 18
1904 Max Factor Jr was born, CEO (Max Factor Cosmetics)
1937 1st FM radio construction permit issued (W1X0J (WGTR) in Boston MA)
1952 Patrick Swayze was born in Houston Texas, actor/dancer
1960 1st photograph bounced off a satellite, Cedar Rapids, Iowa

August 19
1897 1st electric taxi's drive in London
1888 1st beauty contest (Spa, Belgium), 18 year old West Indian wins
1946 Bill Clinton was born, the 42nd US President. (Former Little Rock Attorney)
Agenda
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

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