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E-Malt.com Newsletter 08b
February 21 - February 24, 2008
Open!
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Quote of the week

"Money never starts an idea; it is the idea that starts the money."
William J. Cameron
Currency Rates
Base Currency: Euro, EUR
on 22-February-2008

1 EUR = 1.4741 USD
1 EUR = 0.756 GBP
1 EUR = 1.4919 CAD
1 EUR = 1.6046 AUD
1 EUR = 159.179 JPY
1 EUR = 2.5266 BRL
1 EUR = 36.1505 RUB
1 EUR = 10.5435 CNY
Base Currency: US Dollar
on 22-February-2008

1 USD = 0.6784 EUR
1 USD = 0.5128 GBP
1 USD = 1.0121 CAD
1 USD = 1.0885 AUD
1 USD = 107.989 JPY
1 USD = 1.7141 BRL
1 USD = 24.5245 RUB
1 USD = 7.1527 CNY
Currency Rates Chart

Equities of the Largest Breweries

Equities of the Largest Breweries

Average Market Prices Change trend
February 22, 2008
Type Crop 2007 Crop 2008
2rs Barley €288.0-290.0 1.37% €286.0-288.0 1.71%
6rw Barley €253.0-255.0 1.17% €248.0-250.0 1.58%
2rs Malt €547.0-549.0 0.90% €529.5-531.5 1.12%
6rw Malt €503.0-505.0 0.69% €482.0-484.0 0.92%
Feed Barley €197.0-199.0 nq  

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

USA: Anheuser-Busch affirms long-term earnings growth target of 7%-10% ...Click here
Mexico: Modelo 4th quarter net profit falls 2.3% on higher costs ...Click here
Belgium: InBev may report net rise on Latin American and Easter Europe beer demand ...Click here
France: French people consumed less beer in 2007 ...Click here
Czech Republic: Czech brewers increase beer price ...Click here
USA & China: Tsingtao beer aims to break out of the niche market in the USA ...Click here
Netherlands: Heineken to borrow £3.85 billion for its S&N takeover ...Click here
Australia & China: Australia barley exports to China slowed down this year due to a shortage of containers ...Click here
Australia: Barley production up 42% in 2007-08 y/y ...Click here
France: Demand for malting barley is weak, the prices go down ...Click here




UK: Carlsberg A/S and Heineken N.V. post a scheme regarding acquisition of Scottish & Newcastle ...More Info
UK & Netherlands: SABMiller buys 99.46% stake In Grolsch ...More Info
India: SABMiller may have to pay tax for Foster’s India buyout ...More Info
UK: SABMiller decided not to bid for S&N ...More Info
Belarus: “Brestskoe pivo” plans a 10% increase in beer production in 2008-02-22 ...More Info
Russia: No new beer brand launched in 2007 ...More Info
UK: SABMiller is seeking expansion on Asian beer market ...More Info
Belgium: Duvel to continue beer production at Liefmans Breweries’ plants ...More Info
UK: InBev launches Eiken Artois beer ...More Info
USA: CEO of Coors Brewing will be paid $735,000 annually ...More Info
USA: Iron City Brewing to get $937,000 from state for upgrading production facilities ...More Info
Go to our news database with more than 12224 articles.
Today with the possibility to be translated in 7 different languages!
DE FR SP IT PT RU CN

Brewery News

USA: Anheuser-Busch affirms long-term earnings growth target of 7%-10%

Anheuser-Busch management reviewed the company’s strategies to accelerate U.S. beer sales and profitability, and reaffirmed the company’s 7 to 10 percent long-term earnings growth objective, in a presentation given at the Consumer Analyst Group of New York Conference, the company said in a press release, February 21.

“Over the past year, we have broadened our portfolio to enhance our participation in faster-growing high-end categories and initiated a major transformation of our selling system to better position our company for long-term growth. Our top priority in 2008 is to accelerate core beer sales and profitability,” August A. Busch IV, president and chief executive officer of the company, said to the investors and analysts.


Mexico: Modelo 4th quarter net profit falls 2.3% on higher costs

Mexico's top brewer Modelo, the maker of Corona beer, posted a 2.3 percent decline in fourth-quarter net profit as exports slumped and costs soared, Reuters reported February 21.

Modelo said its October-December net profit was 1.680 billion pesos ($153 million).

Costs for warehousing and raw materials rose almost 21 percent, wiping out an increase in revenue.

Modelo, half owned by U.S. beer company Anheuser-Busch Cos Inc (BUD.N: Quote, Profile, Research), said net sales for the quarter rose 20 percent to 17.291 billion pesos.

Modelo sold 7.7 percent more beer in Mexico during the fourth quarter, which helped drive revenue.

Export volumes, mainly to the United States, declined 6 percent from a year earlier, hurt by higher prices and a difficult comparison as sales in the final quarter of 2006 were high.

Modelo's Mexican rival Femsa, which brews Sol, Tecate and Dos Equis brands said on Tuesday its export volumes rose 19.3 percent.

Both Modelo and Femsa had similar performances in the domestic market. Femsa's domestic sales volumes rose 6 percent.


Belgium: InBev may report net rise on Latin American and Easter Europe beer demand

InBev NV may say next week fourth-quarter profit rose on demand in Latin America and Eastern Europe, according to Bloomberg, February 22.

Net income climbed 37 percent to 510 million euros ($757 million) from 371 million euros a year earlier, according to the median estimate of six analysts surveyed by Bloomberg. Sales gained 9.7 percent to 3.94 billion euros, the survey shows.

InBev gets about half its earnings from Latin America and is the second-largest brewer in Russia, markets where demand is swelling more quickly than in Western Europe and North America. The Leuven, Belgium-based brewer's Brazilian sales probably gained about 7 percent by volume in the quarter, according to Alexandra Oldroyd, an analyst at Morgan Stanley in London.

``This should drive a good overall performance,'' Oldroyd said of the increase in a Feb. 11 research report. ``In central and eastern Europe, we expect 5 percent volume growth in the fourth quarter.''

Annual net income at InBev, the maker of Beck's lager and Bass ale, rose 27 percent to 1.79 billion euros, according to the average of 10 analysts' estimates compiled by Bloomberg. Sales climbed 9 percent to 14.5 billion euros, the average of 23 estimates shows.

The brewer reduced operating costs by 1.1 percent ...More Info


France: French people consumed less beer in 2007

In 25 years French beer consumption has decreased 25%, Le Figaro reported February 20. For beer, as well as for wine the quality is preffered over quantity.

While beer consumption decreased 3.5% between 2006 and 2007, from 20.26 mil hl to 19.56 mil hl, or to 30 litres per capita, special beers increased their popularity. Abbey beers and premium beers saw their sales grow 3.7% and 1.4% respectively. These two sectors represent 20% and 32% of total beer sales.

Traditional lager beers, the market heart, saw their sales drop 7%, non-alcoholic beers decreased 9%. According to Gerard Laloi, President of French Beer Union, the drop in beer sales could be partially explained by last summer bad weather which the Rugby World Cup couldn’t compensate. “We estimate that one degree in the air’s temperature can change the beer consumption by 4%. Between 15 June and 15 September 2007, beer consumption decreased 18%”, he added.


Czech Republic: Czech brewers increase beer price

Some other brewers plan to increase the price of their beers in the next few months, according to media, February 21. The cause is higher prices for raw materials, especially for malt.

The brewers Pivovar Litovel, Zubr, Holba and Pivovar Jihlava announced about planed rises in beer prices. In addition, Staropramen brewery, the second biggest brewer in the country, is also going to increase its beer prices in a few months.

Last year, in October-November period, Plzensky Prazdroj, Budejovicky Budvar, Drinks Union and Krusovice increased their prices by 5-6%.


USA & China: Tsingtao beer aims to break out of the niche market in the USA

Key to its global expansion plan, China's leading beermaker Tsingtao aims to break out of the niche market in the U.S., according to Business Week, February 19.

Crown Imports, the largest beer importer in the U.S., sells more Tsingtao beer every year during Chinese New Year than any other period. This year, it's been pulling out all the stops. Chicago-based Crown (a subsidiary of Constellation Brands (STZ)) has persuaded Costco Wholesale (COST) to carry China's most famous beer in several stores in Northern California and the Pacific Northwest on a trial basis during celebrations of the Year of the Rat, which started on Feb. 7. If Tsingtao sells well, Costco may consider stocking the Chinese import beer year-round. Crown Imports has also signed up celebrity chef Martin Yan to kick off a marketing blitz in a bid to expand Tsingtao outside Chinatown and into downtown U.S.A.

Tsingtao is China's oldest and most famous beer, with a 13% market share at home. Based in the northeastern city of Qingdao (the company uses an older system of romanizing the name for its brand; hence the different spelling), the brewery entered the U.S. market in 1972, shortly after Nixon's visit to Beijing started thawing Cold ...More Info


Netherlands: Heineken to borrow £3.85 billion for its S&N takeover

Heineken NV, the biggest Dutch brewer, will borrow £3.85 billion to help finance a joint takeover of Scottish & Newcastle PLC, The Star reported February 22.

The Amsterdam-based brewer has commitments from nine banks for the loans, spokesperson Veronique Schyns said in an interview.

Banks led by Crédit Suisse Group and ING Groep NV will begin seeking more lenders for the financing next month, according to people involved in the deal.

Heineken teamed with Carlsberg A/S of Copenhagen to buy Edinburgh-based Scottish & Newcastle for £7.8 billion on Jan. 25, after a three-month takeover battle.

S&N sells beverages under brands including Foster's, Kronenbourg and Strongbow.

Carlsberg is separately raising £2.77 billion of loans to fund its part of the brewing industry takeover.


Barley News

Australia & China: Australia barley exports to China slowed down this year due to a shortage of containers

Australian barley sales to China have stalled this year due to a shortage of containers to ship the grain, industry officials say, just as easing prices appeared set to reinvigorate the trade after last year's slump, Reuters reported February 22.

Exports fell last year as barley prices soared almost 60 percent in little more than a month after the Australian drought depleted feed grain supplies and climbing world wheat prices sent shockwaves through the grains complex.

Australian feed barley prices have fallen by 30 percent from last September's peak, but demand for containers has surged after the Australian government de-regulation wheat trade last year, allowing more shipments by bag and container.

"China is sitting there with big pent-up demand," says Ole Houe, manager of coarse grains for GrainCorp Ltd.

But the wheat trade has monopolised the use of empty containers, shipping up to one million tonnes of wheat a year as suppliers seek alternatives to bulk freight costs, he said.

Australia has the potential to export 3 million tonnes of wheat a year in containers and bags, the regulatory panel the Wheat Export Authority said last year. This compares with bulk wheat exports of around 16 million tonnes in a good year.

The Baltic Exchange's ...More Info


Australia: Barley production up 42% in 2007-08 y/y

Barley production in 2007-08 is estimated to have been 5.9 million tonnes, 42 per cent above the previous year but 26 per cent below the five year average, according to ABARE, February 19.

Barley production in New South Wales is estimated be 650 000 tonnes in 2007-08, a 16 per cent decline from the harvest in 2006-07. The area sown with barley in New South Wales increased by 13 per cent in 2007-08. However, drought conditions reduced barley yields to well below the five year average.

Victorian barley production is estimated at 1.1 million tonnes, an 85 per cent increase from the drought reduced production in 2006-07. Barley yields increased to 1.2 tonnes per hectare in 2007-08, compared with 0.66 tonnes per hectare in 2006-07. While yields increased on average by around 80 per cent in 2007-08, it was still well below the five year average of 1.86 tonnes per hectare.

Production of barley in Queensland is estimated to have almost tripled to around 160 000 tonnes in 2007-08. The increased production reflects a 44 per cent increase in the area sown to barley and an increase in barley yields from the drought reduced yields in 2006-07.

Total barley production in Western Australia is ...More Info


France: Demand for malting barley is weak, the prices go down

While the vendors of malting barley are always present on the market, the malsters were not very active this week both for old crop and future crop, La Depeche published February 21.

Malsters are rather reassured by the good state of winter crop. The winter barley seems not to had been suffered from the last frosts.

Feed barley market was totally lethargic this week both for intern market and for exports.

Scientific Digest

Chitin scar breaks in aged Saccharomyces cerevisiae

Chris D. Powell(1), David E. Quain(2) and Katherine A. Smart(1)
(1)School of Biological and Molecular Sciences, Oxford Brookes University, Headington, Oxford OX3 0BP, UK
(2)Coors Brewers, Technical Centre, PO Box 12, Cross Street, Burton-on-Trent DE14 1XH, UK


Abstract
Ageing in budding yeast is not determined by chronological lifespan, but by the number of times an individual cell is capable of dividing, termed its replicative capacity. As cells age they are subject to characteristic cell surface changes. Saccharomyces cerevisiae reproduces asexually by budding and as a consequence of this process both mother and daughter cell retain chitinous scar tissue at the point of cytokinesis. Daughter cells exhibit a frail structure known as the birth scar, while mother cells display a more persistent bud scar. The number of bud scars present on the cell surface is directly related to the number of times a cell has divided and thus constitutes a biomarker for replicative cell age. It has been proposed that the birth scar may be subject to stretching caused by expansion of the daughter cell; however, no previous analysis of the effect of cell age on birth or bud scar size has been reported. This paper provides evidence that scar tissue expands with the cell during growth. It is postulated that symmetrically arranged breaks in the bud scar allow these rigid chitinous structures to expand without compromising cellular integrity.
... Load full article, 9 pages, 330 Kb, PDF file

Malting barley prices.

French Malting Barley Prices. Nominal prices
EURO = USD 1.4741 February 22, 2008 
 Crop year   2007   2008 
 Parity   FOB Creil   FOB Creil 
 Position   July 2007   July 2008 
Type   Variety  EURO  USD  EURO  USD 
2RS  Scarlett  291.00  429.00  289.00  426.50 
2RS  Prestige  290.00  427.50  288.00  424.50 
2RS  Cellar  289.00  426.50  287.00  423.50 
2RS  Sebastien  288.00  424.50  286.00  421.50 
2RS  Astoria  288.00  424.50  286.00  421.50 
2RS  Cork   288.00  424.50  286.00  421.50 
6RW  Esterel   254.00  374.50  249.00  367.50 
French Feed Barley Prices. Nominal prices
EURO = USD 1.4741 February 22, 2008
Crop year 2007
Parity FOB Creil
Position July 2007
Type EURO USD
Feed Barley 198.00 292.00

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

Theoretical malt prices

EURO = USD 1.4741 February 22, 2008
Crop year  2007 
Parity  FOB Antwerp 
Position  Feb 2008 - Sept 2008 
Conditioning  Bulk   In bags  Bulk containers Bags, containers
Malting barley variety  EURO  USD  EURO  USD  EURO  USD  EURO  USD 
2RS  Scarlett  550.50  811.50  574.00  846.00  566.00  834.50  580.00  855.00 
2RS  Prestige  549.00  809.50  573.00  844.50  564.50  832.50  579.00  853.50 
2RS  Cellar  548.00  807.50  571.50  842.50  563.50  830.50  577.50  851.50 
2RS  Sebastien  546.50  806.00  570.50  840.50  562.50  828.50  576.50  849.50 
2RS  Astoria  546.50  806.00  570.50  840.50  562.50  828.50  576.50  849.50 
2RS  Cork   546.50  806.00  570.50  840.50  562.50  828.50  576.50  849.50 
2RS   Average price  548.00  807.50  571.50  842.50  563.50  830.50  577.50  851.50 
6RW  Esterel   504.00  744.00  528.50  779.00  520.50  767.00  534.50  788.00 
Asia Malt 70/30  535.00  788.50  558.50  823.50  550.50  811.50  564.50  832.50 
**  Asia Malt 50/50  526.50  776.00  550.00  811.00  542.00  799.00  556.00  819.50 


EURO = USD 1.4741 February 22, 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  533.00  785.50  556.50  820.50  548.50  808.50  562.50  829.50 
2RS  Prestige  532.00  784.00  555.50  818.50  547.50  807.00  561.50  827.50 
2RS  Cellar  530.50  782.00  554.50  817.00  546.00  805.00  560.50  826.00 
2RS  Sebastien  529.50  780.50  553.00  815.00  545.00  803.00  559.00  824.00 
2RS  Astoria  529.50  780.50  553.00  815.00  545.00  803.00  559.00  824.00 
2RS  Cork   529.50  780.50  553.00  815.00  545.00  803.00  559.00  824.00 
2RS   Average price  530.50  782.00  554.50  817.00  546.00  805.00  560.50  826.00 
6RW  Esterel   483.00  713.00  507.50  748.00  499.50  736.00  513.50  757.00 
Asia Malt 70/30  516.50  761.50  540.50  796.50  532.00  784.50  546.50  805.50 
**  Asia Malt 50/50  507.50  747.50  531.00  782.50  522.50  770.50  537.00  791.50 

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

Australian Barley Supply and Disposal 2001 - 2008f

in thousand tonnes 2001-2002 2002-2003 2003-2004 2004-2005 2005-2006 2006-2007e 2007-2008f
Production 8 280 3 865 10 382 7 740 9 563 3 722 5 915
   Domestic use 2 535 2 016 2 476 2 685 2 755 3 153 2 860
   as malt and other human use 161 165 168 172 176 166 165
   feed 2 200 1 650 2 100 2 300 2 400 2 784 2 500
   seed 174 201 208 213 180 203 195
 Exports  5 274 2 608 6 996 4 862 5 917 2 616 3 166
   as malting barley 1 705 1 099 2 135 1 464 2 067 809 1 002
   malt (grain equivalent) 600 624 624 601 660 627 733
   feed barley 2 971 885 4 241 2 798 3 191 1 140 1 430
s - ABARE estimated, f-ABARE forecast. Source - ABARE February, 2008
Graph Of The Week



These Days in Business History
February 21
1914 The Hong Kong Stock Exchange (formerly the Association of Stock Brokers in Hong Kong) is established.
1947 Edwin H. Land, founder of Polaroid Corp., demonstrates the instant camera to 650 scientists assembled at the annual meeting of the Optical Society of America.
1988 Peter Kalikow purchases New York Post from Rupert Murdoch for $37.6 million

February 22
1923 Transcontinental airmail service begins
1989 New York Lotto pays $26.9 million to one winner
2006 Apple's iTunes store sells its 1 billionth song

February 23
1886 Aluminum manufacturing process developed
1886 London Times publishes world's 1st classified ad
1965 Michael Dell is born. He later drops out of the University of Texas at Austin to found Dell Computer Corp. with the radical idea of assembling made-to-order computers.

February 24
1921 1st transcontinental flight in 24 hours flying time
1986 Texas Air buys Eastern Airlines for $676 million
1995 Dow-Jones hits record 4011.74
Agenda