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E-Malt.com Newsletter 28b
July 10 - July 13, 2008
Open!
Click here to get full size Newsletter


Quote of the week

"Every really new idea looks crazy at first."
Abraham H. Maslow
Currency Rates
Base Currency: Euro, EUR
on 11-July-2008

1 EUR = 1.5738 USD
1 EUR = 0.7956 GBP
1 EUR = 1.5918 CAD
1 EUR = 1.6411 AUD
1 EUR = 168.393 JPY
1 EUR = 2.5402 BRL
1 EUR = 36.8442 RUB
1 EUR = 10.7884 CNY
Base Currency: US Dollar
on 11-July-2008

1 USD = 0.6355 EUR
1 USD = 0.5055 GBP
1 USD = 1.0114 CAD
1 USD = 1.0426 AUD
1 USD = 107.007 JPY
1 USD = 1.6141 BRL
1 USD = 23.4117 RUB
1 USD = 6.8552 CNY
Currency Rates Chart

Equities of the Largest Breweries

Equities of the Largest Breweries

Average Market Prices Change trend

July 11, 2008

Type Crop 2007 Crop 2008
2rs Barley nq   €244.0-246.0 0.81%
6rw Barley nq   €215.0-217.0 1.82%
2rs Malt €530.5-532.5 €490.0-492.0 0.51%
6rw Malt €497.5-499.5 €453.5-455.5 1.09%
Feed Barley €168.0-170.0 3.98% 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

Belgium & USA: InBev raises bid for Anheuser-Busch starting talks over a friendly merger ...Click here
Japan: Total shipments by the major brewers dropped by 4.2 % in 1H year-on-year marking record lows for the second year in a row ...Click here
India: Carlsberg intends to consolidate its presence in the Indian market aiming pan-India ...Click here
Turkey: Efes Breweries continued its growth momentum for the first six months of 2008 ...Click here
Ukraine: Obolon brewery boosts beer production by 10.5% in H1 ...Click here
UK: Country’s strongest new beer attacked by health campaigners and politicians ...Click here
EU: Full employment of all operational EU malting factories ...Click here
China: Chinese maltsters use as much local barley as possible ...Click here
North America: Good barley prospects for USA and Canada ...Click here
USA: Montana governor asks for Anheuser-Busch barley commitment ...Click here




Estonia: Beer sales of A. Le Coq grew by 5% in the first half of 2008 year-on-year ...More Info
USA: Coors buildings valued at nearly US$ 23 mln transferred to MillerCoors ...More Info
Russia: Chief sanitary official against the new drink-drive law ...More Info
Moldova: Sales of Efes Vitanta Brewery fell 18.1% in the first half of 2008 ...More Info
Kenya: Heineken to make beer more affordable to Kenyans despite tax hikes and the tough rival EABL ...More Info
UK: SABMiller issues $1.25 billion bond to repay some existing debt ...More Info
Russia: InBev boosts beer sales in Russia by 16.5% in 2007 ...More Info
India: UB approves Rs 60 cr corporate guarantee for group firm ...More Info
UK: A student's idea could save breweries millions and already attracted investment from Coors ...More Info
USA: Minnesota's most planted malting barley variety is Lacey ...More Info
Go to our news database with more than 13091 articles.
Today with the possibility to be translated in 7 different languages!
DE FR SP IT PT RU CN

Brewery News

Belgium & USA: InBev raises bid for Anheuser-Busch starting talks over a friendly merger

Belgium-based brewer InBev NV and Anheuser-Busch Cos Inc have started talks over a friendly merger to create the world's biggest brewer, a source familiar with the situation said on July 11, according to Reuters.

The Belgian brewer has reportedly hiked its takeover bid for the brewer of Budweiser beer by $5 a share to $70, valuing its target at $45 billion, and Anheuser has also reportedly agreed to engage in friendly talks.

InBev refused to comment, and Anheuser-Busch could not immediately be reached.

This is a chronology of the events leading to the talks:

May 23, 2008 - Market speculation over several months concerning a deal between InBev and Anheuser-Busch comes to a head with a detailed report from on-line site FT Alphaville. The report details a $65 a share bid, financing arrangements and names bankers and lawyers working on a $46 billion deal.

June 11, 2008 - InBev's first letter to Anheuser. This outlines a $65 a share cash bid, valuing Anheuser at $46.3 billion. InBev says the bid price represents a 35 percent premium over Anheuser's 30-day average share price prior to recent market speculation.

InBev says the deal will be financed with at least $40 billion in debt, arranged by eight banks, ...More Info


Japan: Total shipments by the major brewers dropped by 4.2 % in 1H year-on-year marking record lows for the second year in a row

Suntory Ltd. has garnered the No. 3 spot in market share for domestic beer and beerlike beverage sales for the first time since entering the field in 1963, surpassing Sapporo Breweries Ltd., according to industry data released on July 10.

Japan's top five major breweries revealed the sales data spanning the first half of this year.

Suntory's total shipment of beer and beerlike beverages rose by 10.8 percent from the same period last year, to 28.14 million cases--one case equaling 20 633 milliliter bottles.

Sapporo's total shipments dropped by 12.4 percent, to 26.16 million cases. Sapporo, the maker of "Yebisu" beer, had raised prices in April and saw first-half shipments plunge 12.4 percent, reducing its market share to 12.1 percent. Sapporo said in a statement that price differences had a far bigger impact than it had expected, as consumers have become more sensitive in their spending. "We will make company-wide efforts and will definitely hold the No.3 spot for the full year," it said.

By midday, shares in Sapporo were down 3.2 percent at 666 yen. Asahi rose 0.2 percent to 1,813 yen and Kirin fell 0.8 percent to 1,540 yen.

The market share of Asahi Breweries Ltd. for the January-June 2008 ...More Info


India: Carlsberg intends to consolidate its presence in the Indian market aiming pan-India

Carlsberg, the Danish brewing force, is planning to enter the country, aiming at pan-India presence for its product in the next six months, India Times posted on July 11.

Carlsberg beer is currently available in most of the states and in the next six months we will be entering South India giving us a pan-India presence, Pradeep Gidwani, Managing Director, South Asia Breweries, a part of Carlsberg Group said.

The company which set up its base in the country ten months back, has invested Rs 220 crores in its four manufacturing plants and breweries in Poanta Sahib (Himachal Pradesh), Aurangabad (Maharashtra), Alwar (Rajasthan) and Hoogly (Kolkata).

The company, which has its presence in 150 countries across the globe, now intends to consolidate its presence in the Indian market by launching it in all Southern states, Gidwani said.

The 161-year-old company has already launched its product in Delhi, Mumbai, Pune, Jaipur, Chandigarh, North-Eastern states apart from Goa.

Carlsberg is the only liquor company that offers all malt super premium beer in the country, he said adding, "we want to capture the market through our quality product. We have seen that people don't mind shelling little extra for it," he said.

Carlsberg ...More Info


Turkey: Efes Breweries continued its growth momentum for the first six months of 2008

Efes Breweries International N.V. (“EBI” or “the Company”) announced on July 9 its sales volume figures for the period ended 30.06.2008.

In the first six months of 2008 EBI’s total sales volume increased to 7.1 mhl, by growing 10.7% over the same period of previous year. Sales volume growth on an organic1 basis was 8.2% in the period. In the second quarter of 2008 sales volume growth year on year was 10.1%.

In Russia EBI’s sales volume increased to 5.6 mhl in the first half of 2008, achieving a growth of 12.0% over the comparable period of previous year. Despite the unfavorable weather conditions in the second quarter of the year and very strong base effect of previous year, our sales volume grew by 11.1% in the second quarter over the comparable period of previous year. Both our 1H and 2Q sales volume growth is above the estimated market growth rates in respective periods, impacted positively by the new launches through brand and packaging innovations.

In the first six months of 2008 EBI’s sales volume in Kazakhstan was 0.7 mhl, up by 14.6% over the comparable period of previous year. Double digit volume growth was achieved despite the strong base of 1H2007, when ...More Info


Ukraine: Obolon brewery boosts beer production by 10.5% in H1

Obolon, one of Ukraine’s largest beer companies, increased beer production by 10.5% to 5.98 million hectolitres in the first half of 2008 compared to the same period of 2007, the company announced in a press release, according to Interfax.

The company's share of the Ukrainian beer market totalled almost 31% at the end of the half.

Obolon increased beer output by 1.9% to 1.13 million hectolitres in June alone. Beer exports grew 8.3% in June.

The company boosted beer production 16.5% to 1.09 billion litres in 2007. Obolon’s share of the Ukrainian beer market grew to 30.1% last year from 29.6% in 2006, while its share of production fell to 34.6% from 35%.

The Obolon brewery, which opened in 1980, was privatized in 1992. Four companies - SUN InBev Ukraine, Obolon, BBH and Sarmat - control more than 96% of the Ukrainian beer market.


UK: Country’s strongest new beer attacked by health campaigners and politicians

Health campaigners have criticised a Scottish brewery for launching what it claims is the UK’s strongest beer, at 12 per cent alcohol by volume, The Financial Times posted on July 11.

BrewDog, the Aberdeenshire microbrewery, says its new beer, called Tokyo, is inspired by a 1980s arcade game played in Japan. Described as “intergalactic fantastic oak-aged stout”, Tokyo is brewed with specialist malts, jasmine and cranberries before ageing on toasted French oak chips.

“What justification can there possibly be to bring an extra strong beer on to the market? Super-strength drinks are often favoured by young people and problem drinkers – is this really who the brewery wants to target?”

A 330ml bottle of beer would normally have about 1.5 units, but Tokyo has about four units – the recommended daily limit for a man and more than the limit for a woman, Mr Law said.

James Watt, managing director of BrewDog, is philosophical in the face of such objections. “Everything in moderation, including moderation itself. What logically follows is that you must, from time to time, have excess – this beer is for those times.”

Retailing at £4 ($7.9), Tokyo costs £1 a unit of alcohol, compared with 3.8 units for £1 ...More Info


Malt News

EU: Full employment of all operational EU malting factories

Malt exports to third countries in 2007/08 were sufficient for full employment of all operational EU malting factories. In France, Romania and Spain older factories were shut down before new capacities became available resulting in a lower annual production.

EU internal malt trade was larger, e.g. Romania imported 97.000 tons of malt from other EU countries during July – February 2007/08 vs. 57.000 tons a year earlier. Beer output in the Eastern countries of the EU was particularly good in 2007.

However, beer output in the first four to five months of this year disappointed, certainly in France, Germany and the U.K., but also Russia remained below its (high) target. In some regions malt deliveries were delayed and a few lots of malt became free for resale, shipment in 2008. Such malt lots found new homes fast, but the market action resulted in a narrowing of the price gap between old and new crop malt.

Domestic prices for 2008, delivered breweries are said to be around EUR 500,-, FOB in bulk in container for export EUR 515,- to 530,-, depending on quality parameters and contract terms.


Barley News

China: Chinese maltsters use as much local barley as possible

Barley imports from Australia, Canada and France, although better than last year, still remain far below theoretical needs, but Chinese barley malt input in beer seems to have dropped even below 8 kilos per HL.

Chinese maltsters use as much local barley as possible and reportedly about 10 % wheat. China continues to construct malting factories, concentrating on the better barley lands of Xinjiang and Inner Mongolia.

The winter barley harvest in the Shanghai region is more or less finished, quality and WET condition reportedly poor. Xinjiang reports bad dryness, it is also dry in Gansu, but the province uses a lot of irrigation. The late harvest areas of Inner Mongolia and Heilongjiang in the Northeast report good prospects. Total barley crop forecast as per USDA is 3,2 Mill. tons, down 300.000 tons from last year.


North America: Good barley prospects for USA and Canada

The U.S. planted 1.671 mln ha of barley, a tiny bit more than last year. Barley fields are reported in good condition.

In Canada the Wheat Board, which is still holding on to its exclusivity status for all malting trade and feed barley exports, expects a Western Provinces crop of 9.9 mln t, the forecast for all Canada is 10.5 mln t. If the CWB achieves its goal of a 2.5 mln t malting barley pool, it can export 1.4 -1.5 mln t, sales to the U.S. and Mexico will be the largest part of it.

Feed consumption will increase somewhat, but the livestock sector is in poor shape. Firm U.S. corn markets should keep feed barley prices in the U.S. and in Canada too high to be competitive in world markets.


USA: Montana governor asks for Anheuser-Busch barley commitment

Governor Brian Schweitzer is asking Anheuser-Busch Cos. Inc. to honor its relationship with Montana farmers as the company wrestles with a buyout offer, Associated Press posted on July 9. He's urging company executives to keep them in mind when at the bargaining table, facing a possible European buy-out.

Schweitzer says Montana's decades-long relationship with Anheuser-Busch has been beneficial for the company and for barley farmers in the state.

Belgian brewer InBev SA is in the midst of trying to take over the maker of Budweiser. The contentious offer is heading to court. The turmoil has made some Northern Plains barley growers uneasy.

Roughly 25% of Budweiser beer is made with Montana barley. "They've invested a great deal of money in receiving stations in Fairfield, in Huntley, in Sidney," Schweitzer said. "And so we fully anticipate that whoever wins this battle that they will be committed to Montana. But I want to continue to work with them to make sure that Montana farmers continue to produce barley for Budweiser beer."

In a letter to the company, the governor asks it to honor the partnership as the buyout talks to continue.

Schweitzer says the company has at least $1.7 million in payroll and benefits in these communities. ...More Info

Scientific Digest

A Review of Flavour Formation in Continuous Beer Fermentations

Tomáš Brányik, António A. Vicente, Pavel Dostálek and José A. Teixeira

Abstract

J. Inst. Brew. 114(1), 3-13, 2008 The attractive prospect of a continuous beer fermentation system consists mostly of the accelerated transformation of wort into beer. Although continuous beer fermentation has been studied as a promising technology for several decades, the number of industrial applications is still limited. The major obstacle hindering the extensive industrial exploitation of this technology is the difficulty in achieving the correct balance of sensory compounds in the short time typical for continuous systems. This paper offers an integral view on the particularities of continuous systems, which may impart beer a sensorial character distinct from conventionally fermented counterparts. The main groups of flavour active compounds are discussed from the perspective of possible control strategies by means of process parameters and strain selection ... Load full article, 6 pages, 456 Kb, PDF file

Barley Prices

French Malting Barley Prices. Nominal prices
EURO = USD 1.5738 July 11, 2008 
 Crop year   2007   2008 
 Parity   FOB Creil   FOB Creil 
 Position   July 2007   July 2008 
Type   Variety  EURO  USD  EURO  USD 
2RS  Scarlett  nq  nq  247.00  389.00 
2RS  Prestige  nq  nq  246.00  387.50 
2RS  Cellar  nq  nq  245.00  385.50 
2RS  Sebastien  nq  nq  244.00  384.50 
2RS  Tipple  nq  nq  244.00  384.50 
2RS  Henley  nq  nq  244.00  384.50 
6RW  Esterel   nq  nq  216.00  340.00 

French Feed Barley Prices. Nominal prices
EURO = USD 1.5738 July 11, 2008
Crop year 2007
Parity FOB Creil
Position July 2007
Type EURO USD
Feed Barley 169.00 266.00

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

Theoretical Malt Prices

EURO = USD 1.5738 July 11, 2008
Crop year  2007 
Parity  FOB Antwerp 
Position  July 2008 - Sep 2008 
Conditioning  Bulk   In bags  Bulk containers Bags, containers
Malting barley variety  EURO  USD  EURO  USD  EURO  USD  EURO  USD 
2RS  Scarlett  533.50  840.00  557.50  877.00  549.50  864.50  563.50  886.50 
2RS  Prestige  532.50  838.00  556.50  875.50  548.00  862.50  562.50  884.50 
2RS  Cellar  531.50  836.00  555.00  873.50  547.00  860.50  561.00  883.00 
2RS  Sebastien  530.00  834.00  553.50  871.50  545.50  858.50  559.50  881.00 
2RS  Tipple  530.00  834.00  553.50  871.50  545.50  858.50  559.50  881.00 
2RS  Henley  530.00  834.00  553.50  871.50  545.50  858.50  559.50  881.00 
2RS   Average price  531.50  836.00  555.00  873.50  547.00  860.50  561.00  883.00 
6RW  Esterel   498.50  785.50  523.00  823.00  515.00  810.50  529.00  832.50 
Asia Malt 70/30  521.50  821.00  545.50  858.50  537.50  845.50  551.50  867.50 
**  Asia Malt 50/50  515.50  811.00  539.00  848.00  531.00  835.50  545.00  857.50 


EURO = USD 1.5738 July 11,2008 
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  493.50  776.50  517.00  813.50  509.00  801.00  523.00  823.00 
2RS  Prestige  492.00  774.50  516.00  811.50  507.50  799.00  522.00  821.50 
2RS  Cellar  491.00  772.50  514.50  810.00  506.50  797.00  520.50  819.50 
2RS  Sebastien  489.50  770.50  513.50  808.00  505.50  795.00  519.50  817.50 
2RS  Tipple  489.50  770.50  513.50  808.00  505.50  795.00  519.50  817.50 
2RS  Henley  489.50  770.50  513.50  808.00  505.50  795.00  519.50  817.50 
2RS   Average price  491.00  772.50  514.50  810.00  506.50  797.00  520.50  819.50 
6RW  Esterel   454.50  716.50  479.00  753.50  471.00  741.00  485.00  763.00 
Asia Malt 70/30  480.50  755.50  504.00  793.00  496.00  780.00  510.00  802.50 
**  Asia Malt 50/50  473.00  744.50  496.50  781.50  488.50  769.00  503.00  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

Prices Evolution

Prices evolution
Source: Agriculture and Agri-Food Canada; July 2, 2008

Table of the Week

EU Malt Export Licence Fixations

(in tonnes) 2004-2005 2005-2006 2006-2007 July 01, 2007 -
June 24, 2008  
 France   674,140  648,338  460,829  357,498 
 Germany   295,876  236,735  239,633  352,420 
 Belgium   418,344  551,396  531,606  578,586 
 Bulgaria   1,270  2,860 
 U.K. 201,892  190,862  114,156  106,867 
 Finland   64,986  79,357  70,783  60,217 
 Denmark    74,743  68,809  72,374  99,380 
 Sweden   78,369  96,100  90,550  96,700 
 Netherlands   49,128  92,383  78,754  90,756 
 Ireland   56,924  7,001  2,250 
 Italy  181  3,148 
 Austria   16,954  38,932  22,743  9,085 
 Spain  
 Romania   500 
 Portugal   850  1,088  992  476 
 Czech Republic   82,062  77,036  41,769  25,203 
 Poland   167-  2,025 
 Hungary   85,792  16,865  5,474  2,638 
 Slovakia   76,916  75,863  23,157  16,645 
 Lithuania  54  172  1,855 
 Total EU   2,219,661  2,180,986  1,756,691  1,806,858 

  Total Wheat malt, tonnes  
Total 2004 - 2005  8,162 
Total 2005 - 2006  4,693 
Total 2006 - 2007  5,404 
July 01, 2007 - June 24, 2008  7,621 
   
  Total Roasted malt, tonnes  
Total 2004 - 2005  27,212 
Total 2005 - 2006  23,257 
Total 2006 - 2007  30,084 
July 01, 2007 - June 24, 2008  28,146 
Graph of the Week



These Days in Business History

10 July
1933 1st police radio system operated, Eastchester Township, New York
1949 1st practical rectangular TV tube announced-Toledo, Oh
1958 1st parking meter installed in England (625 installed)

11 July
1934 FDR became 1st pres to travel through Panama Canal.
1962 1st transatlantic TV transmission via satellite (Telstar I).
1985 Coca-Cola announces the return of Coke Classic after the company had tried displacing the old formula with New Coke

12 July
1793 The world's first optical telecommunications network is launched
1854 George Eastman is born, future founder of “Kodak”
1859 Paper bag manufacturing machine patents by William Goodale, Massachusetts

13 July
1568 Dean of St. Paul's Cathedral perfects a way to bottle beer
1852 Wells, Fargo & Co. is founded by Henry Wells and William G. Fargo
1898 Guglielmo Marconi patents radio
Agenda