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E-Malt.com Newsletter 13b
March 27 - March 30, 2008
Open!
Click here to get full size Newsletter


Quote of the week

"What counts is not the number of hours you put in, but how much you put in the hours."
Unknown wise person
Currency Rates
Base Currency: Euro, EUR
on 28-March-2008

1 EUR = 1.5801 USD
1 EUR = 0.7866 GBP
1 EUR = 1.6084 CAD
1 EUR = 1.7169 AUD
1 EUR = 156.956 JPY
1 EUR = 2.7369 BRL
1 EUR = 37.1343 RUB
1 EUR = 11.0987 CNY
Base Currency: US Dollar
on 28-March-2008

1 USD = 0.6329 EUR
1 USD = 0.4978 GBP
1 USD = 1.0179 CAD
1 USD = 1.0865 AUD
1 USD = 99.3396 JPY
1 USD = 1.7321 BRL
1 USD = 23.5011 RUB
1 USD = 7.024 CNY
Currency Rates Chart

Equities of the Largest Breweries

Equities of the Largest Breweries

Average Market Prices Change trend

March 28, 2008

Type Crop 2007 Crop 2008
2rs Barley €271.0-273.0 €274.0-276.0
6rw Barley €245.0-247.0 1.23% €245.0-247.0 0.81%
2rs Malt €529.5-531.5 €518.0-520.0
6rw Malt €496.5-498.5 0.71% €481.0-483.0 0.52%
Feed Barley €196.0-198.0 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

Denmark & Turkey: Carlsberg in discussions regarding possible sale of its 95.65% stake in Türk Tuborg ...Click here
Czech Republic: Foreign investors threaten Czech beer taste ...Click here
USA: Diageo climbs on speculation tie-up with Anheuser-Busch ...Click here
India: United Breweries eyes buyback of Heineken's 37.5 pct stake in company ...Click here
Vietnam: Carlsberg eyes over 10 pct stake in Habeco ...Click here
Germany: Malt exports down 12%, malt imports up 25% in July-January ...Click here
France: Malting barley market recovers, feed barley remains still ...Click here
Canada: CWB March 2008 barley PRO largely unchanged for 2007-08 crop year ...Click here
USA: Prices remain firm for both feed and malting barley ...Click here




UK: Shepherd Neame announces a rise in profit for the six months ended 29th December 2007. ...More Info
Canada: Lower beer sales cut Big Rock Brewery profits in 2007 ...More Info
Japan: Sapporo, facing Steel offer, renews takeover defence ...More Info
Australia: Australian brewery creates a German 'Hefeweizen' ...More Info
UK: Scottish & Newcastle’s Yorkshire Brewery to spend £12m on going green ...More Info
Philippines: San Miguel Brewery moves listing date to May 12, 2008 ...More Info
Russia: Asahi beer exports constitute 10% of total Baltika export ...More Info
UK: InBev’s brewery in Lancashire to cut 168 jobs ...More Info
Belgium: InBev "hold," target price reduced ...More Info
USA: Anheuser-Busch upgraded to "buy" due to positive forecasts ...More Info
Australia: Lion Nathan’s Mac's Brewery wins at the 2008 International Beer Awards ...More Info
Uganda: Uganda Breweries kicks off responsible drinking campaign ...More Info
Australia: Coopers Brewery to be the major sponsor of Adelaide International Rugby Sevens ...More Info
Go to our news database with more than 12435 articles.
Today with the possibility to be translated in 7 different languages!
DE FR SP IT PT RU CN

Brewery News

Denmark & Turkey: Carlsberg in discussions regarding possible sale of its 95.65% stake in Türk Tuborg

Carlsberg A/S confirms that the CBC Group, which is the partner of Carlsberg Breweries in Romania and Israel, has indicated an interest in acquiring Carlsberg's 95.65% stake in Türk Tuborg Bira ve Malt Sanayi A.Ş. and that a Memorandum of Understanding has been signed between the parties on 27 March 2008 to that respect, according to Carlsberg’s press release, March 27.

Details of the transaction are still subject to discussion and final agreement. A further announcement will be made in due course.

Carlsberg is one of the leading brewery groups in the world, with a large portfolio of beer and soft drinks brands. Its flagship brand – Carlsberg – is one of the fastest-growing and best-known beer brands in the world. More than 30,000 people work for Carlsberg in 48 countries, and its products are sold in more than 150 markets. In 2007 Carlsberg sold more than 115 million hectolitres of beer, which is about 95 million bottles of beer a day.


Czech Republic: Foreign investors threaten Czech beer taste

Famous Czech beer trademarks are slowly losing their specific taste and becoming unified after most of the large breweries in the Czech Republic were bought by foreign concerns, the daily Lidove noviny (LN) wrote according to CTK, March 26.

Eight of ten "Czech" beers are actually made by foreign producers, the paper adds.

It recalls that the Dutch Heineken group is to control three large Czech beer companies, while the most famous Czech brewery Plzensky Prazdroj (Pilsner Urquell), west Bohemia, is part of the world's second biggest beer-producing concern SABMiller.

The Budvar brewery in Ceske Budejovice, south Bohemia, and the Moravian PMS beer group are the only large beer producers in the country that are still in Czech hands.

A number of beer experts and consumers point out that the mergers and acquisitions of Czech breweries by foreign investors considerably damage the unique quality of Czech beer, so the traditional Czech drink is slowly turning into flat "Eurobeer," the paper writes.

Large breweries namely want to minimise the production costs and therefore they buy lower-quality raw materials in a smaller amount and dilute them with more water, which makes the final taste unified.

Moreover, the repeated saturation of beer with carbon dioxide to increase its durability ...More Info


USA: Diageo climbs on speculation tie-up with Anheuser-Busch

Shares advance on speculation that the Guinness maker is planning a tie-up with Budweiser brewer Anheuser-Busch, Hemscott reported March 26.

Speculation about a deal between the groups comes after Beer Business Daily, an influential trade magazine in America, reported that officials at Diageo-Guinness USA (DGUSA), the UK group's US beer company, had cancelled meetings with several of its distributors.

"DGUSA planning meetings have been postponed, incentive trips cancelled, training postponed indefinitely and the word on the street is that Diageo has called a meeting/conference call in April,” the magazine reported.

Analysts speculated that Diageo could be close to agreeing a licence with Anheuser-Busch to distribute the UK group's Guinness and ready to drink brands (RTD) in North America. Diageo already has a similar arrangement in place with Anheuser to distribute its Budweiser brand in Ireland.

"A Guinness licence in North America is plausible," said Citi analyst Philip Morrisey. "Historically, there have been discussions about Anheuser distributing Diageo’s beer and RTD brands in the US, the stumbling block being Diageo’s reluctance to cede control and EBIT, distribution of these brands being in an entirely separate organisation from its US wine and spirits brands.

"A tie-up now could prove timely since although the Guinness brand continues to ...More Info


India: United Breweries eyes buyback of Heineken's 37.5 pct stake in company

United Breweries (Holdings) Ltd's chairman Vijay Mallya may buy back the 37.5 pct stake that Amsterdam-based brewer Heineken NV holds in his company, the Economic Times said March 28.

'If you ask me whether I would buy them back, my answer is at today's price, sure, I am a buyer,' the report quoting chairman Mallya as saying.

However, a UB Group official said there is no immediate trigger to approach Heineken with a buyback offer.

Heineken will inherit the stake in UB from Scottish & Newcastle after its takeover of the British brewer.

But, Heineken sources said the Dutch brewer has no plan to sell its stake, the report added. A Heineken spokesperson said, 'Heineken looks forward to a potential co-operation with Mr Mallya and we are in discussion with him and with our partner in Asia. It is, however, too early to say more.'

The promoter group holds 74.98 pct of UB Group, of which 37.49 pct is with Mallya and the remainder is with Scottish and Newcastle.


Vietnam: Carlsberg eyes over 10 pct stake in Habeco

Denmark's Carlsberg may be able to secure more than the 10 percent stake reserved for it in the initial public offering of state-owned Vietnamese brewer Habeco, the Danish brewer said, according to Reuters, March 27.

Habeco, Vietnam's second-largest brewer, planned to raise at least $108 million from selling an additional 15 percent of its shares in the IPO, but Carlsberg said the brewer's offering had not been fully subscribed.

"We have had 10 percent of the shares reserved for us, but it looks as if we can get more shares as the IPO has not been fully subscribed," said Henrik Andersen, the Director of Vietnam-based Carlsberg joint venture South East Asia Brewery Ltd.

"The IPO deadline is today, so we won't know the exact result until tomorrow," Andersen added.

Last year, Vietnamese authorities approved plans by Habeco and Carlsberg to form a strategic partnership under which Carlsberg had the 10 percent stake reserved.

Habeco has not said when it plans to list its shares as stock market debuts are separate from IPOs in Vietnam.

Habeco, or the Hanoi Beer Alcohol Beverage Corp, ranks second after Saigon Beer Alcohol Beverage Corp or Sabeco.

Habeco in February delayed its IPO due to adverse market conditions after Sabeco in January ...More Info


Malt News

Germany: Malt exports down 12%, malt imports up 25% in July-January

According to German Statistic Department, country’s malt exports for July2007-January2008 period constituted 211,000 tonnes, which is 12% lower than in the same period of last year, analysts reported March 27.

Malt imports reached 226,000 tonnes, 25% higher than a year ago (181,000 tonnes).


Barley News

France: Malting barley market recovers, feed barley remains still

After last week sharp decrease, malting barley prices are recovering this week due to higher interest from European maltsters, La Depeche published March 28. For the new crop the market is still little developed with steady prices.

Feed barley market remains still with almost no activity this week. The prices slightly decreased.


Canada: CWB March 2008 barley PRO largely unchanged for 2007-08 crop year

The CWB released its March 2008 Pool Return Outlook (PRO) for the 2007-08 crop year, in a press release, March 27.

Malting barley

The malting barley PRO is unchanged as international prices remained stable during the past month. With most of the sales for the 2007-08 pool complete, the variability due to price changes is also very limited.

Feed barley

The feed barley PRO remains unchanged from the mid-month forecast. Tight global supplies and Saudi Arabian demand will be the main features of the global barley market until the arrival of new crop supplies. New crop prospects remain largely unchanged this month, with favourable weather across most of Europe and the Black Sea region.


USA: Prices remain firm for both feed and malting barley

Cash prices for both malting and feed barley continued to be steady to up a few cents during the past two weeks, despite the fact that prices being offered for 2008 malting barley contracts have slid back a little from the highs set a few weeks ago, Farm & Ranch Guide reported March 27.

“The cash market for malting barley has been hanging in there,” said John Zietz, barley supply chain manager at the Cargill Malt Plant in Spiritwood, N.D. “We haven't changed our bid in the past couple of weeks, so I guess you could say the market has been steady. Supplies are a little tighter than what they have been, so that enters into the equation.

“As far as for the new crop contracts, the activity has been steady. When the price levels were a little bit higher there was probably a little more activity, but even with the lower prices there has been activity in the past few weeks.”

Cargill started issuing contracts for the 2008 malting barley crop back in late October of last year in an effort to compete with the other crops for committed acres, according to Zietz.

“We like being out early so people can have a ...More Info

Scientific Digest

Spring malt barley response to elemental sulphur – the prognostic value of N and S concentrations in malt barley leaves

W. Grzebisz, K. Przygocka-Cyna
Department of Agricultural Chemistry, Agricultural University, Poznań, Poland

Abstract
The basic concept of malt barley production is to reach a dilution effect of nitrogen accumulated by grains at maturity. A three-year study was undertaken to establish time courses of nitrogen (N) and sulphur (S) in leaves as the prerequisite tool for total grain yield prognosis. Sulphur application at the lowest rate of 25 kg/ha significantly increased yields of grain in 2001 and 2003. The time course of N and S concentrations in leaves over the growing season showed declining trends for N and variable for S. At mid tillering (BBA-25) both N and S, but at BBA-31 only N concentrations significantly responded to S rates, and in turn affected patterns of N concentration in barley organs up to maturity. Sulphur concentrations and N:S ratios were useful tools to make reliable prognosis of total grain yield of barley at BBA-31 as indicated by the obtained regression equations. The threshold values for N and S in leaves in order to achieve the maximum total grain yield are 0.4% for S and 8.0 for the N:S ratio as presented by the graphical procedure.
... Load full article, 7 pages, 155 Kb, PDF file

Malting barley prices.

French Malting Barley Prices. Nominal prices
EURO = USD 1.5801 March 28, 2008 
 Crop year   2007   2008 
 Parity   FOB Creil   FOB Creil 
 Position   July 2007   July 2008 
Type   Variety  EURO  USD  EURO  USD 
2RS  Scarlett  274.00  433.00  277.00  438.00 
2RS  Prestige  273.00  431.50  276.00  436.50 
2RS  Cellar  272.00  430.00  275.00  434.50 
2RS  Sebastien  271.00  428.50  274.00  433.00 
2RS  Astoria  271.00  428.50  274.00  433.00 
2RS  Cork   271.00  428.50  274.00  433.00 
6RW  Esterel   246.00  389.00  246.00  389.00 

French Feed Barley Prices. Nominal prices
EURO = USD 1.5801 March 28, 2008
Crop year 2007
Parity FOB Creil
Position July 2007
Type EURO USD
Feed Barley 197.00 311.00

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

Theoretical malt prices

EURO = USD 1.5801 March 28, 2008
Crop year  2007 
Parity  FOB Antwerp 
Position  March 2008 - Sept 2008 
Conditioning  Bulk   In bags  Bulk containers Bags, containers
Malting barley variety  EURO  USD  EURO  USD  EURO  USD  EURO  USD 
2RS  Scarlett  533.00  842.50  556.50  879.50  548.50  866.50  562.50  889.00 
2RS  Prestige  532.00  840.50  555.50  877.50  547.50  865.00  561.50  887.50 
2RS  Cellar  530.50  838.50  554.50  875.50  546.00  863.00  560.50  885.50 
2RS  Sebastien  529.50  836.50  553.00  873.50  545.00  861.00  559.00  883.50 
2RS  Astoria  529.50  836.50  553.00  873.50  545.00  861.00  559.00  883.50 
2RS  Cork   529.50  836.50  553.00  873.50  545.00  861.00  559.00  883.50 
2RS   Average price  530.50  838.50  554.50  875.50  546.00  863.00  560.50  885.50 
6RW  Esterel   497.50  787.50  522.50  825.00  514.00  812.50  528.50  834.50 
Asia Malt 70/30  521.00  823.00  544.50  860.50  536.50  847.50  550.50  870.00 
**  Asia Malt 50/50  514.50  813.00  538.50  850.50  530.00  837.50  544.50  860.00 


EURO = USD 1.5801 March 28, 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  521.50  823.50  545.00  861.00  537.00  848.00  551.00  870.50 
2RS  Prestige  520.00  821.50  543.50  859.00  535.50  846.50  549.50  868.50 
2RS  Cellar  519.00  819.50  542.50  857.00  534.50  844.50  548.50  866.50 
2RS  Sebastien  517.50  817.50  541.50  855.00  533.00  842.50  547.50  864.50 
2RS  Astoria  517.50  817.50  541.50  855.00  533.00  842.50  547.50  864.50 
2RS  Cork   517.50  817.50  541.50  855.00  533.00  842.50  547.50  864.50 
2RS   Average price  519.00  819.50  542.50  857.00  534.50  844.50  548.50  866.50 
6RW  Esterel   482.00  763.50  507.00  800.50  498.50  788.00  513.00  810.50 
Asia Malt 70/30  508.00  803.00  532.00  840.50  523.50  827.50  538.00  849.50 
**  Asia Malt 50/50  501.00  791.50  524.50  829.00  516.50  816.00  530.50  838.50 

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

Prices Evolution

Prices evolution
Source: Agriculture and Agri-Food Canada; March 12, 2008

Table of the week

World Barley Trade
October-September Year, Thousand Metric Tonnes

TY Exports 2003/04 2004/05 2005/06 2006/07 2007/08Feb 2007/08Mar
Argentina 167 338 309 537 500 500
Australia 6104 4481 5231 1927 2300 2300
Canada 1937 1476 1876 1337 2200 2200
China Peoples Republic of 2 0 3 0 10 100
EU-27 986 4240 2587 4389 4200 4200
Kazakhstan Republic of 613 100 100 600 1200 1200
Russian Federation 1736 1488 1397 1691 1000 1000
Serbia nr nr nr 5 5 5
Syria 320 50 50 50 50 50
Ukraine 2557 3992 4926 2910 2000 2000
Uruguay 12 20 37 200 100 100
Others 6 30 555 250 0 0
Subtotal 14440 16215 17071 13896 13565 13655
United States 384 771 357 528 1000 1000
World Total 14824 16986 17428 14424 14565 14655
TY Imports 2003/04 2004/05 2005/06 2006/07 2007/08Feb 2007/08Mar
Brazil 128 182 153 291 250 250
China Peoples Republic of 1519 2049 2217 1127 1300 1200
Colombia 181 234 198 243 200 200
EU-27 654 212 168 167 200 200
Iran 661 1291 587 300 500 500
Israel 508 313 314 224 250 250
Japan 1359 1522 1417 1359 1350 1350
Jordan 400 607 811 804 500 500
Kuwait 62 214 203 200 200 200
Morocco 143 565 444 400 900 900
Russian Federation 438 266 188 200 200 200
Saudi Arabia 5508 6420 7106 5800 5600 5600
Syria 600 500 612 228 300 300
Tunisia 99 514 606 866 500 500
Turkey 171 69 52 57 250 250
Others 1452 1341 1568 1405 1160 1185
Subtotal 13883 16299 16644 13671 13660 13585
Unaccounted 444 530 660 399 455 620
United States 497 157 124 354 450 450
World Total 14824 16986 17428 14424 14565 14655
Source: USDA - March 2008
Graph Of The Week



These Days in Business History

March 27
1855 Abraham Gesner patents kerosene
1933 Polythene discovered by Reginald Gibson and Eric William Fawcett
1999 The macro virus "Melissa" was reported for the first

March 28
1797 Nathaniel Briggs of NH patents a washing machine
1841 1st U.S. steam fire engine tested, New York City
1866 1st ambulance goes into service

March 29
1886 Chemist John Pemberton begins to advertise for Coca-Coke
1888 James E. Casey is born, founder of United Parcel Service
1918 Sam Moore Walton, future founder of Wal-Mart, is born in Kingfisher, Okla

March 30
1858 Pencil with attached eraser patented by Hyman L. Lipman
1867 1867: U.S. Secretary of State William H. Seward agrees to purchase the Alaskan territories from Russia for $7,200,000
Agenda