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E-Malt.com Newsletter 03a
January 14 - January 16, 2008
Open!
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Quote of the week

" The roots and herbs beaten and put into new ale or beer and daily drunk, cleareth, strengthen and quicken the sight of the eyes."
Nicholas Culpeper
Currency Rates
Base Currency: Euro, EUR
on 16-January-2008

1 EUR = 1.4868 USD
1 EUR = 0.7582 GBP
1 EUR = 1.512 CAD
1 EUR = 1.6566 AUD
1 EUR = 160.026 JPY
1 EUR = 2.5914 BRL
1 EUR = 36.1264 RUB
1 EUR = 10.783 CNY
Base Currency: US Dollar
on 16-January-2008

1 USD = 0.6726 EUR
1 USD = 0.5099 GBP
1 USD = 1.017 CAD
1 USD = 1.1142 AUD
1 USD = 107.639 JPY
1 USD = 1.743 BRL
1 USD = 24.2984 RUB
1 USD = 7.2526 CNY
Currency Rates Chart

Equities of the Largest Breweries

Equities of the Largest Breweries

Average Market Prices Change trend
January 16, 2008
Crop 2007 Crop 2008
2rs Barley €311.0-313.0 1.63% 2rs Barley €293.0-295.0 1.38%
6rw Barley €276.0-278.0 6rw Barley €255.0-257.0 1.19%
2rs Malt €569.5-571.5 1.42% 2rs Malt €536.5-538.5 1.51%
6rw Malt €525.5-527.5 0.38% 6rw Malt €488.5-490.5 1.45%

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


Top Industry News

Denmark: Carlsberg seeks another £200 million to raise bid for S&N ...Click here
Algeria & Netherlands: Heineken buys Algerian brewer Tango ...Click here
USA & Russia: Anheuser-Busch declines to say it plans to bid for BBH stake ...Click here
Czech Republic: Beer prices to rise 25% in 2008 on higher costs ...Click here
Belarus: Beer production increased 8.1% in January-November 2007 ...Click here
India: Anheuser-Busch to hike price of Budweiser beer ...Click here
Canada: Maltsters lose business to competitors in Wheat Board impasse ...Click here
USA: Beer prices impacted by worldwide hops shortage ...Click here




Luxembourg: Quilmes Industrial considers fair AmBev's voluntary offer to purchase any and all outstanding Quinsa shares ...More Info
Belgium & Netherlands: InBev selects Quintiq for European roll out of transport planning system ...More Info
USA & Barbados: Barbados beer headed for New York ...More Info
Ukraine: Breweries invest in modern process solutions ...More Info
Finland: Carlsberg’s Sinebrychoff appoints new CEO ...More Info
USA: Budweiser & Clamato Chelada and Bud Light & Clamato Chelada arrive nationwide ...More Info
Russia: Baltika Breweries completed share buyback ...More Info
USA: Sierra Nevada Brewery selects Mitsubishi Electric for solar power ...More Info
Go to our news database with more than 12006 articles.
Today with the possibility to be translated in 7 different languages!
DE FR SP IT PT RU CN

Brewery News

Denmark: Carlsberg seeks another £200 million to raise bid for S&N

Carlsberg was understood to be looking to secure a further £200 million that could lead to the opening of takeover talks with target Scottish & Newcastle, Edinburgh Evening News reported January 16.

The Danish brewer and its consortium partner Heineken had a 780p a share proposal – valuing the city-based firm at £7.6 billion – immediately rebuffed last week.

But S&N said that it would engage with the firm if an offer of 800p a share – or around £7.8bn – is received.

The consortium has been given a deadline of Monday for a formal bid to be tabled or it must walk away.

One key S&N institutional shareholder said: "I don't think it would take much more on the table to persuade the majority of shareholders to accept a cash offer."

S&N has demanded that Carlsberg allow it to publish more information about profits, sales and capital spending at Baltic Beverages Holding, a joint venture between the two firms, to let shareholders see the company's value.

But Carlsberg has so far not responded to the pleas.


Algeria & Netherlands: Heineken buys Algerian brewer Tango

Heineken N.V. announced the acquisition of the Tango Brewery in Algiers, Algeria, in a press release, January 14.

Heineken acquires Tango sarl from the Group Mehri. The acquisition price has not been disclosed. The transaction has been funded from existing cash resources and will be earnings enhancing in 2008 and value enhancing in 2012.

The company employs 350 staff and operates a modern brewing facility in Rouiba, 30 km from Algiers, the capital of Algeria. The brewery has been operational since 2001 and has a production capacity of 750,000 hectolitres. The brand portfolio consists of the leading national mainstream beer brand Tango, and two brands in the economy segment, Samba and Fiesta. The combined volume of the acquired brands and Heineken totals 140,000 hectolitres. The Heineken brand, currently imported, will be brewed in Algeria from 2008.

Tom de Man, Regional President Africa and the Middle East, Heineken N.V., commented: “With this acquisition, Heineken obtains the number one mainstream beer brand, Tango and becomes the strong number two player in the fast growing and profitable Algerian beer market. Given its strong brand image, we expect the Heineken brand to perform strongly in the market’s large premium segment.”

The current growth of the Algerian beer market ...More Info


USA & Russia: Anheuser-Busch declines to say it plans to bid for BBH stake

U.S. brewer Anheuser-Busch declined to say whether it plans to bid for a minority stake in Baltic Beverages Holdings (BBH), a brewer jointly owned by Britain's Scottish and Newcastle PLC and Denmark's Carlsberg A/S, Reuters reported January 14.

According to a report in Britain's Sunday Telegraph, Anheuser-Busch, with help from private equity firms Blackstone and TPG, approached Scottish & Newcastle with an offer to join in a 4.6 billion pound ($9 billion) bid by S&N to take full control of BBH, which consists of 19 breweries in the Baltic countries, Russia, Ukraine, Kazakhstan and Uzbekistan. It is the largest brewer in that area.

S&N's plan would be to finance the move by offering a 25 percent stake to a minority partner, the Telegraph said.

"It is our policy to not confirm, deny or speculate on rumors of potential investments, acquisitions, mergers, new business partnerships or other transactions," said Anheuser Chief Financial Officer W. Randolph Baker in an e-mailed statement.

A 25 percent stake would cost Anheuser-Busch $2.25 billion, noted Wachovia analyst Jonathan Feeney, who said: "It would certainly be Anheuser's style to consider a 25 percent equity stake -- which would allow them to gain leverage in a key long-term growth market and bolster ...More Info


Czech Republic: Beer prices to rise 25% in 2008 on higher costs

According to experts, Czech beer prices a going to increase by 25% this year, mainly due to the rising cost of raw materials: hops and malt, Russian Beer Union reported January 11.

Jan Vesela, Director of Czech Beer Union is expecting a price rise till 11 krons for the most popular beer (the current price is 8.70 krons). If in 2007 Czech brewers have been able to keep the price increase at 5-6%, this year the prices will grow much faster, The Czech Walker reported.


Belarus: Beer production increased 8.1% in January-November 2007

Belarus brewers produced 3.29 hl of beer in January-November 2007, 8.1% more than in the same period of previous year, Russian Beer Union reported January 11.

The raise was caused by the growing consumption in the country and the development of production capacities. The main market actors were Krinitza brewery with 40.9%, Syabar with 15.4%, Olivaria with 12.6%, Lidskoe Pivo with 12.2%, Brestskoe Pivo – 8.5% and Rechitza Pivo – 8.1%.


India: Anheuser-Busch to hike price of Budweiser beer

Anheuser-Busch is set to increase the price of its flagship Budweiser beer, in India, to cut down losses, TNN reported January 16. Sources said the company's local joint venture-Crown Beers-is poised to hike the price of the 650ml bottle to Rs 75 from the existing Rs 68 in Mumbai.

The JV, in which Anheuser-Busch and the local partners hold equal stake, will raise prices in most of its existing markets, like Goa and Karnataka, barring Hyderabad where it is brewed. The increase in state levies by the Andhra Pradesh government has raised the price of Budweiser to Rs 80 from around Rs 68 per bottle in Hyderabad. Hence, a further hike in Hyderabad might not be feasible at the moment, sources added. It is believed that the price of Budweiser in Goa could move up to Rs 45 from Rs 40 currently.

Sources said the hike could be in the Rs 5-7 price band in different markets. Crown Beer did not respond to an ET query at the time of going to press.

The move ends Budweiser's shortlived, aggressive pricing strategy, which saw it make a debut almost on a par or slightly above mainstream premium brands like Kingfisher and Foster's. It is ...More Info


Barley News

Canada: Maltsters lose business to competitors in Wheat Board impasse

Canadian maltsters have lost business to competitors because the Canadian Wheat Board has refused to sell new-crop malting barley due to an impasse over a new pricing program, an industry spokesman said, according to Reuters, January 15.

The farmer-run CWB, which has a monopoly on sales of the crop from Western Canada, will not forward-sell barley to maltsters beyond July 31, 2008 unless maltsters agree to a program which they have flatly rejected, said Phil de Kemp, president of the Malting Industry Association of Canada.

"We are paying a price for that, and quite frankly so are farmers, because we've lost those opportunities," said de Kemp, declining to comment on what volume of sales had been lost, citing commercial reasons.


Hops News

USA: Beer prices impacted by worldwide hops shortage

A worldwide hops shortage and malting barley price increases have forced many breweries in US to raise their prices, The Daily Tar Hill published January 15.

The hops crop was directly affected by bad weather in Europe, extreme heat in the Pacific Northwest and a drought in Australia, leading to a lower yield than past harvests.

The barley price increase is more modest, but it still can affect the price of your beer.

One of the causes of the price increase is a trend among Midwestern American farmers to replace barley with more profitable biofuels such as ethanol, said Carl Griffey, professor of crop and soil environmental science at Virginia Tech.

Adding to problems with harvests, the methods breweries use to contract for ingredients have also affected hops and barley supplies.

Beer ingredients used to be purchased on a forward contract, said Stephen Kenny, a research scientist at Washington State University.

Under this system, breweries would tell suppliers how much of a certain ingredient, such as hops, they would need for future years, allowing the supply and price to be set ahead of time.

Recently, instead of paying a set price for a number of years, brewers took advantage of lower prices.

Now farmers are taking steps to ...More Info

Scientific Digest

The effect of a fungicide application on the yield and quality of barley grain and malt

L. Hřivna - Mendel University of Agriculture and Forestry in Brno, Czech Republic

Abstract
In small-plot field trials conducted in 2000–2002 we studied the effect of fungicides on the yield and selected technological parameters of grain of malt barley and on malt. For the treatment we used Cerelux (active ingredients: fenpropimorph, flusilazole), Amistar (azoxystrobin) and Caramba (metconazole) applied in two stages of stand development (DC 47 and 55). Compared to the untreated control plants the yield grains ranged between 6.9 and 16.5% after the application of fungicides. The application of fungicides increased the proportion of full grains and had a favourable effect on the chemical composition of grain. After the treatment with azoxystrobin the content of N-substances decreased from 11.43 to 11.07% as compared to the controls. The highest starch content of grain was observed after the application of the active ingredient metconazole; the average content ranged between 64.44 and 64.62%. Compared to the controls the highest relative yield of malt starch (124.2–125.2%) was achieved after the application of azoxystrobin or a combination of azoxystrobin and metconazole in the DC 47 stage. The highest average attainable degree of fermentation was 78.57% and was discovered in the untreated control. Keywords: malt barley; malt; fungicide; yields; grain quality
... Load full article, 6 pages, 151 Kb, PDF file

Malting barley prices.
French barley prices. Nominal prices
EURO = USD 1.4868 January 16, 2008 
 Crop year   2007   2008 
 Parity   FOB Creil   FOB Creil 
 Position   July 2007   July 2008 
Type   Variety  EURO  USD  EURO  USD 
2RS  Scarlett  314.00  467.00  296.00  440.50 
2RS  Prestige  313.00  465.50  295.00  439.00 
2RS  Cellar  312.00  464.00  294.00  437.50 
2RS  Sebastien  311.00  462.50  293.00  436.00 
2RS  Astoria  311.00  462.50  293.00  436.00 
2RS  Cork   311.00  462.50  293.00  436.00 
6RW  Esterel   277.00  412.00  256.00  381.00 

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

Theoretical malt prices

EURO = USD 1.4868 January 16, 2008
Crop year  2007 
Parity  FOB Antwerp 
Position  Jan 2008 - Sept 2008 
Conditioning  Bulk   In bags  Bulk containers Bags, containers
Malting barley variety  EURO  USD  EURO  USD  EURO  USD  EURO  USD 
2RS  Scarlett  573.00  852.00  597.00  887.50  588.50  875.00  603.00  896.50 
2RS  Prestige  572.00  850.50  595.50  885.50  587.50  873.50  601.50  894.50 
2RS  Cellar  570.50  848.50  594.50  883.50  586.50  871.50  600.50  892.50 
2RS  Sebastien  569.50  846.50  593.00  881.50  585.00  869.50  599.00  890.50 
2RS  Astoria  569.50  846.50  593.00  881.50  585.00  869.50  599.00  890.50 
2RS  Cork   569.50  846.50  593.00  881.50  585.00  869.50  599.00  890.50 
2RS   Average price  570.50  848.50  594.50  883.50  586.50  871.50  600.50  892.50 
6RW  Esterel   526.50  784.50  551.50  819.50  543.00  807.50  557.50  828.50 
Asia Malt 70/30  557.50  829.00  581.50  864.50  573.50  852.50  587.50  873.50 
**  Asia Malt 50/50  549.00  816.50  573.00  851.50  564.50  839.50  579.00  860.50 


EURO = USD 1.4868 January 16, 2008 
Crop year  2008 
Parity  FOB Antwerp 
Position  Oct 2008 - Sept 2009 
Conditioning  Bulk   In bags  Bulk containers Bags, containers
Malting barley variety  EURO USD EURO  USD EURO USD  EURO  USD
2RS  Scarlett  539.50  802.50  563.50  837.50  555.50  825.50  569.50  846.50 
2RS  Prestige  538.50  800.50  562.00  835.50  554.00  823.50  568.00  844.50 
2RS  Cellar  537.50  798.50  561.00  834.00  552.50  821.50  567.00  843.00 
2RS  Sebastien  536.00  797.00  559.50  832.00  551.50  820.00  565.50  841.00 
2RS  Astoria  536.00  797.00  559.50  832.00  551.50  820.00  565.50  841.00 
2RS  Cork   536.00  797.00  559.50  832.00  551.50  820.00  565.50  841.00 
2RS   Average price  537.50  798.50  561.00  834.00  552.50  821.50  567.00  843.00 
6RW  Esterel   489.50  729.00  514.00  764.50  506.00  752.50  520.00  773.50 
Asia Malt 70/30  523.50  777.50  547.00  813.00  538.50  801.00  553.00  822.00 
**  Asia Malt 50/50  514.00  764.00  537.50  799.00  529.50  787.00  543.50  808.00 

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

Prices Evolution

Prices evolution

Table of the week

USA Barley Supply and Use

  2005/2006 2006/2007 Est. 2007/2008 Dec. 2007/2008 Proj. Jan.
Area planted (mil. acres) 3.9 3.5 4.0 4.0
Area harv. (mil. acres) 3.3 3.0 3.5 3.5
Yield (bushels/acre) 64.8 61.1 60.4 60.4
Beginning stocks 128 108 69 69
Production 212 180 212 212
Imports 5 12 20 20
Supply, total 346 300 301 301
Feed and residual 52 56 50 55
Food, seed & industrial 158 156 150 145
Total domestic 210 211 200 200
Exports 28 20 50 50
Use, total 238 231 250 250
Ending stocks, total 108 69 51 51
Avg. farm price ($/bu) 2/ 2.53 2.85 3.70- 4.30 3.80- 4.40
Source: USDA, January 2008
Graph Of The Week


Source: ABARE, December 2007; s - estimate, f - forecast

These Days in Business History
January 14
1914 Henry Ford introduces assembly line, for T-Fords
1935 Oil pipeline Iraq-Mediterranean goes into use
1985 British pound (£) sinks to record low-$1.11

January 15
1928 1st fully automatic photographic film developing machine patented
1987 The New York Stock Exchange racks up daily volume of over a quarter-of-a-billion shares for the first time, as a total of 253.1 million shares are traded.

January 16
1868 Refrigerator car patented by William Davis, a fish dealer in Detroit
1951 World's largest gas pipeline opens (Brownsville Tx, to 134th St, NYC)
Agenda