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E-Malt.com Newsletter 16a
April 14- April 16, 2008
Open!
Click here to get full size Newsletter


Quote of the week

"Time is the scarcest resource and unless it is managed nothing else can be managed."
Peter Drucker
Currency Rates
Base Currency: Euro, EUR
on 16-April-2008

1 EUR = 1.5821 USD
1 EUR = 0.8033 GBP
1 EUR = 1.6134 CAD
1 EUR = 1.7086 AUD
1 EUR = 160.15 JPY
1 EUR = 2.6721 BRL
1 EUR = 37.1325 RUB
1 EUR = 11.081 CNY
Base Currency: US Dollar
on 16-April-2008

1 USD = 0.6321 EUR
1 USD = 0.5078 GBP
1 USD = 1.0198 CAD
1 USD = 1.08 AUD
1 USD = 101.233 JPY
1 USD = 1.689 BRL
1 USD = 23.4708 RUB
1 USD = 7.0041 CNY
Currency Rates Chart

Equities of the Largest Breweries

Equities of the Largest Breweries

Average Market Prices Change trend

April 16, 2008

Type Crop 2007 Crop 2008
2rs Barley €248.0-250.0 1.19% €259.0-261.0
6rw Barley €221.0-223.0 1.77% €233.0-235.0
2rs Malt €505.0-507.0 0.69% €501.5-503.5
6rw Malt €470.5-472.5 1.05% €468.5-470.5
Feed Barley €183.0-185.0 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

Russia: Russian beer industry reaches the third position in the world according to beer production volumes ...Click here
UK: SABMiller organic beer fiscal year volumes up 7%, above management hopes ...Click here
India: Asia Pacific Breweries' Indian arm launches Tiger Beer in Mumbai ...Click here
Belarus: Belarus interested in Heineken's participation in domestic brewing ...Click here
China: Tsingtao Brewery falls in Hong Kong, new tax rate to cut profit ...Click here
Russia: Heineken sees beer sales weakening in 2008 as market’s expansion slows ...Click here
Canada: Initial payments for 2007-08 feed barley crop increased ...Click here
Australia: Growers to share in first distribution payments from 2007/2008 harvest barley pools ...Click here
USA: Hops price surge moves U.S. top grower state to plant more ...Click here




South Korea: Country’s leading brewer Hite Brewery to be turned into holding firm ...More Info
Belarus: Belarus will not introduce beer import restrictions ...More Info
India: Cobra Beer looking at Indian listing of its subsidiary as it plans to invest $100 million by 2010 ...More Info
USA: Growth challenge is brewing at Boston Beer ...More Info
Germany: Victory Brewing Company brews specialty beers for German Hop Growers Association ...More Info
USA: Proposal to increase state tax on beer in California by $1.80 a six-pack may be hard sell ...More Info
Canada: Big Rock Brewery Income Trust announces monthly distribution ...More Info
USA: Carolina Brewery wins CCB Awards ...More Info
Belgium & Nepal: The only premium quality Nepali beer Gorkha now in Belgium ...More Info
USA: Anheuser-Busch and Hispanic Scholarship Fund team up with Major League Soccer for higher education ...More Info
USA: Wet conditions slow planting of barley across Northwest region ...More Info
Ukraine: Export prospects remain uncertain due to domestic barley market tense balance ...More Info
India: Barley futures fall on arrival pressure ...More Info
Go to our news database with more than 12551 articles.
Today with the possibility to be translated in 7 different languages!
DE FR SP IT PT RU CN

Brewery News

Russia: Russian beer industry reaches the third position in the world according to beer production volumes

Russian beer industry reached 116 million hectolitres in 2007, a 16% increase over 2006, which placed Russia on the third place in the world according to beer production volumes, the media reported April 11.

"2007 was the best year for our beer industry in the last decade", Anton Artemiev, President of Baltika Brewery and President of Russian Beer Union, said.

"The main factors of this grow are the increase of Russian's level of life, the economic growth in the country and the 2007 hot summer", he added.

Artemiev also said that he doesn't exclude the possibility of a slowdown in industry growth for the following years till 3-5% per year, taking into consideration the increase in prices for beer ingredients, transport and energy and excise duty growth.


UK: SABMiller organic beer fiscal year volumes up 7%, above management hopes

SABMiller plc issued the update on trading for the 12 months to 31 March 2008, in a press release, April 16. The calculation of organic growth rates excludes volumes for acquired businesses for the first 12 months after an acquisition.

The group’s lager volume growth was 11% for the year with organic growth of 7%. Revenue grew by some 16%, benefiting from price increases and mix improvements, which have offset the impact of higher input costs. The underlying performance of the group has been good and was at the upper end of management’s expectations. The results have benefited from successful revenue management and enhanced productivity as well as favourable exchange rates in some of our major countries.

In Latin America, lager volumes were up 5% for the year, with a subdued growth rate in the final quarter following mid-teen growth in the comparative period. In Colombia, full year volumes have grown 4%, reflecting slower trading conditions in the second half and tough comparatives, but good price and mix increases have been achieved and our market facing initiatives continue to deliver benefits. In Peru, volumes ended up 8% in a market that remains highly competitive.

Europe recorded ...More Info


India: Asia Pacific Breweries' Indian arm launches Tiger Beer in Mumbai

To enhance its brand offerings in India, Asia Pacific Breweries Aurangabad Limited (APBAL), a subsidiary of Asia Pacific Breweries Limited (APB), unveiled the launch of its locally-brewed Tiger beer (Tiger) in Mumbai, the company reported in a press release, April 15. Joining the ranks of Singapore, Malaysia, China and Thailand amongst others, India is the 10th country in the Asia Pacific region to brew the award-winning Tiger.

Launched in 1932, Tiger is APB's flagship brand which is enjoyed by millions of beer drinkers in more than 60 countries. Tiger is not new to the Indian beer market. All the while, the brand has been imported into India but was only made available at exclusive premium outlets. With the introduction of locally-produced Tiger by APBAL located in Aurangabad, Maharashtra, the brewery is set to quench the thirst for a quality premium lager by extending the availability of the brand. Tiger will be made more widely available at the various on and off trade outlets including wine shops, pubs and restaurants amongst others, enabling the local consumers to experience the distinctive taste of the 5% alcohol European-styled lager.

On this milestone, Mr Vivek Chhabra, Regional Director, South Asia & Director, Group Business Development, APB, ...More Info


Belarus: Belarus interested in Heineken's participation in domestic brewing

Belarus is interested in the participation of brewing company Heineken N.V. in the production of all components of brewing products in the country, President of Belarus Alexander Lukashenko said during a meeting with representatives of the company, the media reported April 15.

“We are ready to extend comprehensive support to you as a Belarusian company. It is important for you to give us cutting-edge technological tasks,” said the head of state.

“I am very glad we have a good practice of the President’s cooperation with representatives of large foreign business. I am satisfied very large companies come onto the market of Belarus,” said Alexander Lukashenko. “You are most of all interested in producing the best beer sorts in Belarus. Long ago we determined what we want the companies that come onto our beer market to do,” noted the President. “I am very interested how effectively you will work”.

In 2007 the Belarusian government approved the deal to sell Syabar brewing enterprises to Heineken N.V. Syabar used to produce around 13 million decalitres of beer annually. Heineken N.V. plans to increase the figure up to 20 million decalitres within two years. Thus, the company will account for about one third of the country’s beer ...More Info


China: Tsingtao Brewery falls in Hong Kong, new tax rate to cut profit

Tsingtao Brewery Co., the Chinese beer company partly owned by Anheuser-Busch Cos., fell the most in a month in Hong Kong trading after saying 2007 profit will be reduced by a higher tax rate to be applied to its earnings, according to Bloomberg, April 16.

Tsingtao Brewery fell 8.4 percent to HK$18.92 in Hong Kong, the biggest decline since March 17. Its Shanghai- listed shares fell 1 percent to 23.87 yuan.

The company will pay income taxes at a 33 percent rate for 2007, it said in a statement to Shanghai's stock exchange today. Tsingtao Brewery, based in the eastern Chinese city of Qingdao, said in August its first-half income tax rate was 15 percent.

Profit for the first nine months of 2007 was 560 million yuan ($80 million) with the new tax rate and 695 million yuan without, Tsingtao Brewery said. The company will report full- year earnings on April 22.

Tsingtao Brewery will pay income taxes at a 25 percent rate in 2008, it said.


Russia: Heineken sees beer sales weakening in 2008 as market’s expansion slows

Heineken, the largest Dutch brewer, said that growth in its Russian beer sales would weaken this year as the market's expansion slows, The Moscow Times published April 14.

"There won't be double-digit growth this year," Viktor Pyatko, vice president of Heineken's local unit, told reporters after a news conference in Moscow. The company will aim to increase the amount of beer it sells in Russia "at least at the pace of the market or slightly better," he said.

Growth in the country's beer market will decelerate to 3 to 5 percent in coming years from 2007's 16 percent, Baltika Breweries, the largest local beer maker, has said. Foreign competitors, including InBev, the world's biggest brewer by sales, have flocked to the country as it expands for a 10th straight year, fueling incomes and spending.

Heineken's Russian sales advanced 15 percent to 15 million hectoliters last year. Drinkers bought more beer as the warmest Moscow winter since records began in 1879 pulled demand away from vodka.

The company will invest 112 million euros ($177 million) to 117 million euros in Russia this year, unchanged from 2007, Pyatko said. Around 60 million euros will go to quadruple capacity at a brewery in Nizhny Novgorod, and the ...More Info


Barley News

Canada: Initial payments for 2007-08 feed barley crop increased

The CWB announced that 2007-08 initial payments for Pool B feed barley will increase effective April 17, 2008, according to CWB’s press release, April 14. Pool B feed barley will increase $65 per tonne.

The adjustment payments, in dollars per tonne, for representative grades in each pool account are listed below. The total initial payment to date is basis in-store Vancouver or St. Lawrence and must be adjusted for freight/elevation charges to arrive at farm gate prices.

Controlled by western Canadian farmers, the CWB is the largest wheat and barley marketer in the world. One of Canada's biggest exporters, the Winnipeg-based organization sells grain to over 70 countries and returns all sales revenue, less marketing costs to farmers.


Australia: Growers to share in first distribution payments from 2007/2008 harvest barley pools

Barley growers across South Australia and Victoria will share in first distribution payments from ABB Grain’s 2007/2008 select pools, according to ABB’s press release, April 16.

Growers who delivered malting barley into ABB's 2007/2008 No.1 pools will receive $390/tonne for malting 1 barley and $380/tonne for feed 1 barley – both amounts representing 89% of the current estimated grower return (EGR).

Growers who delivered into ABB's No.2 select pools will receive $345/t for malting 1 barley and $320/t for feed 1; growers who put barley into the No.3 select pool will receive $340/t for malting 1 and $290/t for feed 1.

The following charges will be factored into the above distributions: research levies and VFF levies (where applicable), 100% anticipated bulk handling and 100% of anticipated freight.

ABB Grain's general manager marketing, Peter Jones, said that the pools were still a valuable option for growers in a deregulated barley market as they were able to take advantage of both export and domestic demand.

He said the high percentages of the EGR for the first distributions reflected another below-average crop in South Australia in the 2007 but also the very high prices that barley was attracting and has continued to attract.

"Also, because of the smaller crop, ...More Info


Hops News

USA: Hops price surge moves U.S. top grower state to plant more

A rare and dramatic surge in the price of hops used in beer-brewing is drawing more farmland and investment into the crop in Washington, the top state in the nation for hops production, Puget Sound Business Journal published April 11.

The price of the pure resin extract of hop cones, the ingredient that gives beer a tinge of bitterness, has climbed nearly 5-fold, to about $200 a kilogram from $40 several years ago, said Steve Carpenter, CEO of Yakima Chief Inc., a Sunnyside hops processor.

Last year, Washington hops farmers planted 22,745 acres of hops, up from a low of 19,382 acres in 2004, according to National Agricultural Statistics Services numbers. This year, forecasts call for another 5,000 acres to be planted, at a cost of about $30 million.

The higher prices have rapidly boosted hops farmers' income in the state. Revenue from hops is up 46 percent, to $128 million in 2007, from 2006 and is expected to climb again this year.

Scientific Digest

Agricultural drought and spring barley yields in the Czech Republic

M. Trnka1, P. Hlavinka1, D. Semerádová1, M. Dubrovský2, Z. Žalud1, M. Možný3

1Institute of Agrosystems and Bioclimatology, Mendel University of Agriculture and Forestry in Brno, Czech Republic; 2Institute of Atmospheric Physics, Academy of Sciences of the Czech Republic, Prague, Czech Republic; 3Agrometeorological Observatory in Doksany, Czech Hydrometeorological Institute, Prague, Czech Republic

ABSTRACT
The relationship between detrended district yields of spring barley (1961–2000) and meteorological drought was assessed by Palmer Z-index. We found that the seasonal water balance (April–June) significantly (P = 0.05) influences the spring barley production in 51 out of 62 evaluated districts. Coefficients of correlation varied in individual districts from 0.19 to 0.70, with the highest values being found in southern Moravia. Data analysis revealed the presence of six distinct groups of districts with a specific drought-yield relationship. The most drought-sensitive cluster included five districts in the South East of the country. On the other hand, the districts in Northern Moravia and Silesia belong among the least sensitive to agricultural drought. The study also defined threshold values of seasonal drought (sums of relative Palmer Z-index lower than –8 and –10, respectively), below which medium to severe spring barley yield reductions are very likely, regardless of the district of occurrence.
... Load full article, 6 pages, 2.224 Kb, PDF file


Malting barley prices.

French Malting Barley Prices. Nominal prices
EURO = USD 1.5821 April 16, 2008 
 Crop year   2007   2008 
 Parity   FOB Creil   FOB Creil 
 Position   July 2007   July 2008 
Type   Variety  EURO  USD  EURO  USD 
2RS  Scarlett  251.00  397.50  262.00  414.50 
2RS  Prestige  250.00  395.50  261.00  413.00 
2RS  Cellar  249.00  394.00  260.00  411.50 
2RS  Sebastien  248.00  392.50  259.00  410.00 
2RS  Astoria  248.00  392.50  259.00  410.00 
2RS  Cork   248.00  392.50  259.00  410.00 
6RW  Esterel   222.00  351.50  234.00  370.50 

French Feed Barley Prices. Nominal prices
EURO = USD 1.5821 April 16, 2008
Crop year 2007
Parity FOB Creil
Position July 2007
Type EURO USD
Feed Barley 184.00 291.50

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

Theoretical malt prices

EURO = USD 1.5821 April 16, 2008
Crop year  2007 
Parity  FOB Antwerp 
Position  Apr 2008 - Sept 2008 
Conditioning  Bulk   In bags  Bulk containers Bags, containers
Malting barley variety  EURO  USD  EURO  USD  EURO  USD  EURO  USD 
2RS  Scarlett  508.50  804.00  532.00  841.50  524.00  828.50  538.00  851.00 
2RS  Prestige  507.00  802.50  531.00  839.50  522.50  827.00  537.00  849.50 
2RS  Cellar  506.00  800.50  529.50  837.50  521.50  825.00  535.50  847.50 
2RS  Sebastien  504.50  798.50  528.50  835.50  520.50  823.00  534.50  845.50 
2RS  Astoria  504.50  798.50  528.50  835.50  520.50  823.00  534.50  845.50 
2RS  Cork   504.50  798.50  528.50  835.50  520.50  823.00  534.50  845.50 
2RS   Average price  506.00  800.50  529.50  837.50  521.50  825.00  535.50  847.50 
6RW  Esterel   471.50  747.50  496.50  785.00  488.50  772.50  502.50  794.50 
Asia Malt 70/30  496.00  784.50  519.50  822.00  511.50  809.00  525.50  831.50 
**  Asia Malt 50/50  489.50  774.00  513.00  811.50  505.00  798.50  519.00  821.00 


EURO = USD 1.5821 April 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  505.00  798.50  528.50  836.00  520.50  823.50  534.50  845.50 
2RS  Prestige  503.50  796.50  527.50  834.00  519.00  821.50  533.50  843.50 
2RS  Cellar  502.50  794.50  526.00  832.00  518.00  819.50  532.00  841.50 
2RS  Sebastien  501.00  792.50  525.00  830.50  516.50  817.50  531.00  840.00 
2RS  Astoria  501.00  792.50  525.00  830.50  516.50  817.50  531.00  840.00 
2RS  Cork   501.00  792.50  525.00  830.50  516.50  817.50  531.00  840.00 
2RS   Average price  502.50  794.50  526.00  832.00  518.00  819.50  532.00  841.50 
6RW  Esterel   469.50  744.00  494.00  781.50  486.00  768.50  500.00  791.00 
Asia Malt 70/30  493.00  779.50  516.50  817.00  508.50  804.00  522.50  826.50 
**  Asia Malt 50/50  486.50  769.50  510.00  807.00  502.00  794.00  516.00  816.50 

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

Barley balance sheet in the European Union, 2004-2014

in mln tonnes 2004  2005  2006  2007  2008  2009  2010  2011  2012  2013  2014 
 Usable production  60.94  52.68  54.56  57.34  57.79  56.36  58.02  58.73  59.26  59.20  59.59 
 of which EU-15  51.21  43.17  46.30  46.75  47.42  46.81  47.32  47.87  48.31  48.67  48.93 
 EU-10  9.73  9.51  8.25  9.33  8.81  7.98  9.11  9.24  9.34  8.98  9.11 
 EU-2        1.27  1.57  1.58  1.59  1.62  1.61  1.55  1.55 
 of which non-food set aside    0.00  0.00  0.00  0.00  0.00  0.00  0.00  0.00  0.00  0.00 
 Consumption  48.18  48.18  51.51  51.86  51.39  50.73  50.90  50.78  50.67  50.53  50.30 
 of which food and industrial  8.79  8.27  8.26  9.39  9.39  9.40  9.41  9.42  9.42  9.43  9.43 
 of which feed  36.26  36.43  39.14  39.24  38.47  37.79  37.90  37.75  37.62  37.46  37.24 
 of which bioenergy  0.20  0.70  0.74  0.51  0.77  0.81  0.85  0.89  0.89  0.89  0.89 
 of which EU-15 39.10  39.54  42.62  39.79  39.99  39.41  39.60  39.60  39.62  39.66  39.61 
 EU-10  9.08  8.64  8.88  9.78  8.98  8.90  8.86  8.80  8.67  8.50  8.36 
 EU-2        2.30  2.42  2.43  2.43  2.38  2.38  2.37  2.33 
 Imports  0.40  0.30  0.30  0.30  0.30  0.30  0.30  0.30  0.30  0.30  0.30 
 Exports  6.71  5.80  6.30  6.00  6.58  7.05  7.39  8.26  8.88  8.95  9.61 
 Beginning stocks  7.76  14.22  13.21  10.27  10.05  10.17  9.05  9.08  9.08  9.09  9.11 
 Ending stocks  14.22  13.21  10.27  10.05  10.17  9.05  9.08  9.08  9.09  9.11  9.08 
 of which intervention  1.61  2.05  0.10  0.00  0.00  0.00  0.00  0.00  0.00  0.00  0.00 
 of which EU-15  1.20  1.70  0.00  0.00  0.00  0.00  0.00  0.00  0.00  0.00  0.00 
 of which EU-10  0.41  0.35  0.10  0.00  0.00  0.00  0.00  0.00  0.00  0.00  0.00 
 of which EU-2        0.00  0.00  0.00  0.00  0.00  0.00  0.00  0.00 

EU-10: Member States that joined the European Union on May, 1st 2004
EU-2: Bulgaria and Romania
Source: Coceral, April 2008
Graph Of The Week


Source: Canada Brewers Association

These Days in Business History

April 14
1863 William Bullock patents continuous-roll printing press
1900 President Loubet opens International Fairs in Paris
1987 Turkey asks to join European market

April 15
1892 General Electric Company, forms and is incorporated in New York
1952 Franklin National Bank issues 1st bank credit card
1973 Walt Disney Store opens

April 16
1948 Organization for European Economic Cooperation (EEC) forms in Paris
1986 IBM produces 1st megabit-chip

April 17
1704 1st successful U.S. newspaper; published in Boston by John Campbell
1933 Pres. Franklin D. Roosevelt announces that he will issue an executive order embargoing exports of gold and free the exchange rate of the U.S. dollar to float against foreign currencies.
1989 An all-financial-news TV service premieres, as CNBC airs its first market broadcast.

April 18
1921 Junior Achievement incorporated in Colorado Springs Colo
1948 International Court of Justice opens at Hague Netherlands
1968 London Bridge is sold to U.S. oil company to be erected in Arizona
Agenda