If you want to see this letter from our site, please follow this link. http://www.e-malt.com/Publications.asp?4847
E-Malt.com NewsLetter

Newsletter Summary





Last five newsletters


Last five graphs

Note: All graphs issued with e-malt.com newsletters are published in "Graph" section of e-malt.com site.



Last five tables

All e-malt.com tables are published in e-malt.com Statistics section. The Statistics section includes Barley statistics, Malt statistics and Beer statistics. The tables related to barley are published in Barley Statistics section, the tables related to malt in Malt Statistics section and the tables related to beer in Beer Statistics section.



Last five prices evolutions


Last five scientific digests


Access to E-malt.com

User name

Password


Use the above form to have a full immediate access to E-malt.com site! Through the drop-down menu you can easily remind your username and password, change your username and password or even edit your account!




Do you know
E-malt.com?

Dear E-malt Reader!

E-malt.com Newsletters Archive could be found directly on e-malt.com site. Browsing through our Newsletters Archive you may see all the issues you have missed. To this purpose you just have to login e-malt.com and click on Newsletters link in the menu. Reading our Newsletters you will be kept informed with the latest news and events regarding malting and beer world. You may also submit your own news, events or other information to the address info@e-malt.com!

Updated figures related to USA barley and malt trade with Mexico and Canada could be seen in NAFTA section of e-malt.com menu. To this purpose please enter e-malt.com!

You may find updated malt, barley and beer statistics on e-malt.com Statistics section. Just enter e-malt.com! Here you will find all tables issued with e-malt.com newsletters.

E-malt.com Agenda gives the possibility to keep you informed about the Events planned to be held in the whole world related to the brewing and malting industries. To this purpose you just have to login e-malt.com and click on Agenda link in the menu. Reading our Event Agenda you will find out about the future symposia, conferences and festivals related to malting and beer world. You may also submit your own events to the address info@e-malt.com

E-malt.com has Trading Online system. The system is to be used for malt/barley trading. One can register a malt/barley offer or a malt/barley request. The registering person could be as a seller/buyer or as an agent for seller/buyer. The User can see information about all active malt/barley offers & requests. If needed the system allows user to buy/sell malt/barley due to reasonable offers/requests. The way to do this is to confirm reasonable transaction. Trading Online rules are available through the Internet in the Trading Online as well as Tutorial (useful for persons who starts the system usage). To visit the E-malt Trading Online first go to the E-malt.com site, then click Trading Online link in the left menu of the e-malt.com home page. For more details please contact info@e-malt.com

Thank You!


E-malt.com Links!




Note

If you have any comments, questions, suggestions or remarks, you can send a mail to: info@e-malt.com. To submit your own news to our editorial team, email to: info@e-malt.com


If you have received this newsletter from a colleague, you can obtain your own subscription here! You are not registered yet? You may register here.


You may recommend our site to your friend by clicking here.


If you do not wish to receive our newsletter, please unsubscribe your e-mail address from our mailing list by sending us an e-mail info@e-malt.com. Please take into consideration your registration data.



E-Malt.com Newsletter 36a
September 01 - September 02, 2008
Open!
Click here to get full size Newsletter


Quote of the week

"The victory of success is half won when one gains the habit of setting goals and achieving them. Even the most tedious chore will become endurable as you parade through each day convinced that every task, no matter how menial or boring, brings you closer to fulfilling your dreams."
Og Mandino
Currency Rates
Base Currency: Euro, EUR
on 02-September-2008

1 EUR = 1.464 USD
1 EUR = 0.8112 GBP
1 EUR = 1.5607 CAD
1 EUR = 1.7161 AUD
1 EUR = 158.437 JPY
1 EUR = 2.4019 BRL
1 EUR = 36.1324 RUB
1 EUR = 10.0103 CNY
Base Currency: US Dollar
on 02-September-2008

1 USD = 0.6832 EUR
1 USD = 0.5541 GBP
1 USD = 1.066 CAD
1 USD = 1.1722 AUD
1 USD = 108.237 JPY
1 USD = 1.6406 BRL
1 USD = 24.6804 RUB
1 USD = 6.8376 CNY
Currency Rates Chart

Equities of the Largest Breweries

Equities of the Largest Breweries

Average Market Prices Change trend

September 02, 2008

Type Crop 2007 Crop 2008 Crop 2009
2rs Barley nq   EUR192.0-194.0 EUR190.0-192.0 -0.52%
6rw Barley nq   EUR174.0-176.0 EUR171.0-173.0
2rs Malt EUR536.5-538.5 EUR435.0-437.0 EUR423.0-425.0 -0.35%
6rw Malt EUR503.5-505.5 EUR412.0-414.0 EUR398.5-400.5
Feed Barley nq   EUR158.0-160.0 -0.62% 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

Turkey: Efes Breweries International posts EBITDA 13.8% higher in H1 2008 as compared to last year’s H1 results ...Click here
UK: Molson Coors to raise wholesale prices by 3p per pint ...Click here
Belgium: Primary syndication phase of the committed financing for InBev – Anheuser-Busch merger completed ...Click here
Russia: Beer market share adds 6.4 points, production – 3 per cent in the first seven months of 2008 ...Click here
The Netherlands & Romania: Heineken’s H1 sales in Romania gain a 5.6% growth ...Click here
India: Cobra Beer may change hands in a struggle with a $100 mln debt ...Click here
Europe: Harvest coming to a close, quality and weather worries still lingering ...Click here
United States: Barley prices slightly rising, the crop production forecast unchanged at 218 mln bushels ...Click here
Canada: Statistics Canada increases barley production estimates to 10.88 mln metric tonnes this year ...Click here
Ukraine: Ukraine becomes this year’s leader in feed barley export ...Click here




UK: Diageo would consider buying a premium brewery business only, Chief Executive Paul Walsh declares ...More Info
Ireland: Diageo Ireland to purchase a site for its new €500 million brewery ...More Info
China: Macau’s elimination of a 15% CIF greatly simplifies beer trans-shipments ...More Info
United Kingdom: Winter barley yield meets expectations ...More Info
India: SABMiller India still growing in the range of 10-12% does not plan premium launch for this fiscal year ...More Info
Poland: Zywiec brewery gains 5.2 per cent in sales in H1 2008 surpassing Poland’s total beer market ...More Info
Australia: The Department of Agriculture and Food issues a farmnote to prevent cross contamination of malting barley varieties stored on-farm ...More Info
Austria: Ottakringer brewery practically repeats the previous year’s results in FY 2007 ...More Info
Romania: Beer still a profitable business – in 2007 cumulated profits of all breweries in Romania amounted to €130 mln ...More Info
East Africa: East African Breweries achieve a 16% growth in pre-tax profits in FY ended June 30, 2008 ...More Info
Mexico: Beer market 2007 in Mexico – slowdown, domestic products prevalence, domestic standard lager holding 97% of total sales volume ...More Info
Malaysia: Beer and stout spared from rising excise duties, tobacco companies suffer from a serious blow ...More Info
United States: A promising new strain could save California’s declining barley production ...More Info
Singapore: Asia Pacific Breweries appoints a new general manager for Cambodia Brewery ...More Info
Go to our news database with more than 13427 articles.
Today with the possibility to be translated in 7 different languages!
DE FR SP IT PT RU CN

Brewery News

Turkey: Efes Breweries International posts EBITDA 13.8% higher in H1 2008 as compared to last year’s H1 results

Turkish Efes Breweries International (EBI) posted an EBITDA of $81.6 mln for the first half of 2008 on its official site on August 28. In the corresponding period of 2007, the EBITDA was $71.7 mln.

EBITDA of Q2 2008 amounted to $65.2 mln from $56.1 mln in Q2 2007.

Financial review

EBI’s total sales volume increased to 7.1 mln hl, by growing 10.9% over the same period of previous year (6.4 mln hl). In the second quarter of 2008 sales volume constituted 4.5 mln hl whereas in Q2 2007 it was 4.1 mln hl.

In Russia the company’s sales volume increased to 5.6 mln hl in H1 2008, achieving a growth of 12.0% year‐on‐year. Despite the unfavorable weather conditions in the second quarter of the year and the cycling of a very strong base, Efes’s Russian sales volume grew 11.1% in Q2 2008. EBI’s market share in Russia increased to 9.1% in June 2008.

In Kazakhstan EBI’s sales volume in H1 2008 was 0.7 mln hl, up by 14.5% over the comparable period of the previous year. Double digit volume growth was achieved despite the strong base of H1 2007, when sales volume grew by 36.9% year‐on‐year. Second quarter sales volume growth in Kazakhstan was 15.2%. ...More Info


UK: Molson Coors to raise wholesale prices by 3p per pint

The UK's second-largest brewer, Coors Brewers, has become the latest to raise its beer prices for the second time this year, in an effort to claw back soaring input costs, the Independent posted on September 2.

The company announced an increase of its wholesale prices by 3p per pint from 29 September, which follows an earlier 4p a pint uplift for on-trade in February.

The Carling and Grolsch brewer said it made just 2p profit per pint in 2007 and the price of basic goods continues to rise.

Mark Hunter, Coors Brewers chief executive, said: "We are seeing input cost inflation of a magnitude that could cripple the UK beer industry."

Mr Hunter, who has been in the industry 20 years, said: "In living memory no one can recollect such a consistent level of increase." For instance, he said that the price of barley and metal, used for making cans, had rocketed by 50 per cent and 64 per cent respectively over the last two years, while its energy costs were up 150 per cent over a similar period.

Mr Hunter said that while no further price increases were planned for 2008, he said that if input costs continued on the same upward ...More Info


Belgium: Primary syndication phase of the committed financing for InBev – Anheuser-Busch merger completed

InBev announced on its official Web site on August 28 the successful completion of the primary syndication phase of the committed financing for the combination of InBev and Anheuser-Busch.

The Belgian beer giant reported that it received strong support from its key relationship banks providing positive momentum to the transaction ahead of a round of general syndication to take place in September 2008.

Felipe Dutra, CFO of InBev said, "I am pleased that the banking community recognizes the merits of the proposed combination between Anheuser-Busch and InBev, creating the world's leading brewer, and has fully subscribed to the primary syndication of the committed financing relating to the transaction.

“Following the closure of the primary syndication phase the Mandated Lead Arranger (MLA) group now represents a very diversified group of strong banks, giving InBev access to all significant capital markets. The MLA group of banks consists of: Bank of America, BayernLB / Banque LBLux S.A., Dresdner Bank AG, Intesa Sanpaolo S.p.A., KBC Bank NV, Rabobank International, Scotia Capital, Société Générale, and The Toronto-Dominion Bank."

In July 2008, InBev arranged fully committed financing with signed credit facilities from a group of leading financial institutions, including Banco Santander, Bank of Tokyo- Mitsubishi, Barclays Capital, BNP Paribas, ...More Info


Russia: Beer market share adds 6.4 points, production – 3 per cent in the first seven months of 2008

Total alcohol consumption grew by 2.5% in Russia in January – July 2008 as compared to the corresponding period in 2007, Business Press reported citing the report by National Alcohol Association of Russia (NAA) on September 1.

The nation’s total alcohol consumption constituted 8.47 mln hl in terms of pure alcohol.

The share of beer amounted to 35.9% (29.5% in 2007), exceeded only by vodka and strong alcoholic beverages (49.6%).

According to NAA data, alcohol consumption volume in Russia increased by 4.8% compared to that in 2006, and by 5% versus the rate of 2005. Experts explain the general growth of alcohol consumption by increasing popularity of beer among Russians, for the share of vodka and hard alcohols fell by 8.8% this year.

The country’s production of strong alcoholic beverages decreased by 1.6% during the first seven months of 2008, Rosstat reported.

Besides, a drop was registered in the production volume of ethyl alcohol (- 17.8%) and malt (- 2.8%).

At the same time, the production of beer grew by 3% in Russia in January – July 2008.


The Netherlands & Romania: Heineken’s H1 sales in Romania gain a 5.6% growth

Total beer sales accomplished by Heineken in Romania grew by 5.6 per cent in volume during the first semester, Emportal posted on September 1.

This is one of the most dynamic evolutions in Central and Eastern Europe, where the Dutch group reported a turnover advance of 6.1 pc, according to data presented in the financial report published by the producer.

In Romania, the operational profit decreased to last year’s value, due to investments in the “Ciuc” brand and changes in the customers’ preferences, the semester report of the group also mentioned.

The sales of the brand Heineken reached a rise of 35 per cent on the local market, compared to the similar period of the previous year.


India: Cobra Beer may change hands in a struggle with a $100 mln debt

Lord Karan Billimoria may be exploring an outright sale of his nearly two-decades-old Cobra Beer after drinks giant Diageo called off a transaction to pick up minority stake in the company, the Economic Times reported on August 29.

In the interim, Cobra Beer is lining up $50-70-million debt facility from ICICI Bank to meet operational requirements.

Experts say global brewing giants InBev, SABMiller, UB and buyout private equity funds may be interested in an acquisition opportunity. In the past, several players, SABMiller among them, have considered the asset, but stayed away from cutting a deal on valuation differences. The possibility of suitors making a serious bid now depends entirely on a negotiated price.

According to analysts, the Billimoria family may be seeking $350-400-million valuation, including debt, as they are likely to seek an earlier than anticipated exit in the wake of mounting pressure. “Mr Billimoria has hinted about an exit in 3-5 year time, but don’t be surprised if it happens in the next 12 months,” a source said.

“We can confirm that we held discussions with Diageo about a possible minority investment, and that these talks have now ended,” Cobra Beer CEO Adrian McKeon said.

A SABMiller spokesperson in London declined to comment while ...More Info


Barley News

Europe: Harvest coming to a close, quality and weather worries still lingering

Rainfall and increased quality concerns remain the dominant feature of the 2008 European harvest, although quality so far appears reasonable. Overall, the crop is expected to be well above last year, Farmers Weekly reported on August 27.

Concern remains for UK crop quality, particularly if the nation has a significant exportable surplus to compete against increased supplies from EU and third country competitors. Winter barley is 97% complete in the UK and spring barley is about 30% cut, with yields of 6.65 t/ha and nitrogen levels 1.4-1.7%.

The German farmers union now estimates the grain crop at about 47 mln tonnes (17% up to 24 mln tonnes for wheat, 9% up to 9 mln tonnes for winter barley and 5% down to 5 mln tonnes rapeseed).

Russia has harvested more than 85% of its total 75.3m tonne grain crop, about 22 mln tonnes above last year. Some 43.2 mln tonnes wheat and 17 mln tonnes barley have been cut. As of August 15, 10% of the Kazakh crop had been harvested. Total grain production is about 17 mln tonnes, and the export potential could reach about 5.5 mln tonnes of grain.


United States: Barley prices slightly rising, the crop production forecast unchanged at 218 mln bushels

Harvest pressures, which normally depress barley prices at this time of the year, haven't had too much impact on either the malting or feed barley markets in the past few weeks, Farm & Ranch Guide reported on August 29.

The malting barley prices remained strong even though good yields and high quality malting barley crops have been reported in much of eastern North Dakota and north-western Minnesota. An average elevator board price was around $6 per bushel, according to Kelly Kotowicz at the Alvarado Farmers Elevator in Alvarado, Minn., although he had been paying $6.20 for the last two weeks.

The barley harvest in his area is about 90 percent completed and farmers are reporting good quality and slightly above average yields as combining nears completion.

“The barley crop was good to excellent,” Kotowicz noted. “The VOM levels are very low, really good plump and test weights were good. And the yields were slightly above average. “As far as the future for malting barley, I feel we are going to stay at these levels until we can get a feel for what the crop is in Canada, and we are hearing some horror stories on the crop out in southwestern ...More Info


Canada: Statistics Canada increases barley production estimates to 10.88 mln metric tonnes this year

The latest Statistics Canada report estimated barley production at 10.88 million metric tonnes, the Manitoba Cooperator informed on August 28.

The estimates were increased due to bigger yield and harvested area numbers, it was reported.

The increase in harvested percentage is likely impacted by attractive malt barley returns and struggles in the livestock sector, while the higher predicted yields are consistent with recent reports of crop conditions across much of the Prairies.

Analysts say exports are likely to be lower than last year's as stiff competition from other feed barley suppliers enters the world markets. Neither Australia nor the Black Sea region were major players last year due to crop failures, but larger crops and a freight advantage to key export destinations will make these regions more competitive. As a result, Canadian feed barley exports will be mostly limited to the Japanese market.

Even with the expectation of above-average yield and a reduction in exports, the supply and demand balance for barley is not overly burdensome. Lower barley values and higher livestock prices later in the crop year could help increase domestic feed usage. Barley prices will also be heavily influenced by U.S. corn prices as well.


Ukraine: Ukraine becomes this year’s leader in feed barley export

The renewed forecast by the International Grains Council for 2008/2009 world barley trade has been increased by 0.4 mln tonnes to 17.7 mln tonnes versus 15.3 mln tonnes last season, Agroperspectiva reported on September 1.

The augmentation was conditioned by higher feed barley trade, whereas malting barley trade forecast remained the same.

The projection for EU feed barley export was reduced by 0.5 mln tonnes in comparison with the July data. At the same time, the forecast for Ukraine was 0.5 mln tonnes higher, making Ukraine a global leader in feed barley exports.

The prognosis of barley exports was increased for Russia as well.

Among importers, the forecast was risen for Saudi Arabia, world’s biggest purchaser of feed barley.

Scientific Digest

Examination of the Effect of Vitamin E and C Addition on the Beer’s ESR Lag Time Parameter

E. Jeney-Nagymate and P. Fodor

Abstract

J. Inst. Brew. 113(1), 28–33, 2007 The electron spin resonance method can be used to analyse the effect of antioxidant vitamins such as vitamin E and C on the flavour stability of beer. The aim of this study was to examine the effect of vitamin addition on the lag time parameter at different beer production stages. The longest lag time values were measured when the vitamins were added to the wort after cooling. Lower pH value helped improve the lag time value when used with ascorbic acid. When the vitamin E concentration was higher than 4 mg/L at original pH, or the vitamin C concentration was higher than 30 mg/L at lower pH, the lag time was higher than 100 min. Key words: Ascorbic acid, -tocopherol, beer, ESR, lag time. Load full article, 6 pages, 367 Kb, PDF file

Barley Prices

French Malting Barley Prices. Nominal prices
EURO = USD 1.464 September 02, 2008 
 Crop year   2008   2009 
 Parity   FOB Creil   FOB Creil 
 Position   July 2008   July 2009 
Type   Variety  EURO  USD  EURO  USD 
2RS  Scarlett  195.00  285.50  193.00  282.50 
2RS  Prestige  194.00  284.50  192.00  281.50 
2RS  Cellar  193.00  282.50  191.00  280.00 
2RS  Sebastien  192.00  281.50  190.00  278.50 
2RS  Tipple  192.00  281.50  190.00  278.50 
2RS  Henley  192.00  281.50  190.00  278.50 
6RW  Esterel   175.00  256.50  172.00  252.00 

French Feed Barley Prices. Nominal prices
EURO = USD 1.464 September 02, 2008
Crop year 2008
Parity FOB Creil
Position July 2008
Type EURO USD
Feed Barley 159.00 232.50

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

Theoretical Malt Prices

EURO = USD 1.464 September 02, 2008
Crop year  2007 
Parity  FOB Antwerp 
Position  Aug 2008 - Sep 2008 
Conditioning  Bulk   In bags  Bulk containers Bags, containers
Malting barley variety  EURO  USD  EURO  USD  EURO  USD  EURO  USD 
2RS  Scarlett  540.00  796.50  571.00  842.50  563.50  831.50  577.50  852.50 
2RS  Scarlett  540.00  790.00  571.00  836.00  563.50  824.50  577.50  845.50 
2RS  Prestige  538.50  788.50  569.50  834.00  562.00  823.00  576.50  843.50 
2RS  Cellar  537.50  786.50  568.50  832.50  561.00  821.00  575.00  842.00 
2RS  Sebastien  536.00  784.50  567.50  830.50  559.50  819.50  574.00  840.00 
2RS  Tipple  536.00  784.50  567.50  830.50  559.50  819.50  574.00  840.00 
2RS  Henley  536.00  784.50  567.50  830.50  559.50  819.50  574.00  840.00 
2RS   Average price  537.50  786.50  568.50  832.50  561.00  821.00  575.00  842.00 
6RW  Esterel   504.50  739.50  536.50  785.50  529.00  774.50  543.00  795.00 
Asia Malt 70/30  527.50  772.50  559.00  818.50  551.50  807.00  565.50  828.00 
**  Asia Malt 50/50  521.50  763.00  552.50  809.00  545.00  797.50  559.00  818.50 


EURO = USD 1.464 September 02, 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  540.00  790.00  571.00  836.00  563.50  824.50  577.50  845.50 
2RS  Prestige  538.50  788.50  569.50  834.00  562.00  823.00  576.50  843.50 
2RS  Cellar  537.50  786.50  568.50  832.50  561.00  821.00  575.00  842.00 
2RS  Sebastien  536.00  784.50  567.50  830.50  559.50  819.50  574.00  840.00 
2RS  Tipple  536.00  784.50  567.50  830.50  559.50  819.50  574.00  840.00 
2RS  Henley  536.00  784.50  567.50  830.50  559.50  819.50  574.00  840.00 
2RS   Average price  537.50  786.50  568.50  832.50  561.00  821.00  575.00  842.00 
6RW  Esterel   504.50  739.50  536.50  785.50  529.00  774.50  543.00  795.00 
Asia Malt 70/30  527.50  772.50  559.00  818.50  551.50  807.00  565.50  828.00 
**  Asia Malt 50/50  521.50  763.00  552.50  809.00  545.00  797.50  559.00  818.50 


EURO = USD 1.464 September 02, 2008
Crop year 2009
Parity FOB Antwerp
Position Oct 2009 - Sep 2010
Conditioning Bulk In bags Bulk containers Bags, containers
Malting barley variety EURO USD EURO USD EURO USD EURO USD
2RS  Scarlett  427.50  631.00  459.00  677.00  451.50  666.00  465.50  687.00 
2RS  Scarlett  426.50  624.50  457.50  670.00  450.00  658.50  464.50  679.50 
2RS  Prestige  425.50  622.50  456.50  668.00  448.50  657.00  463.00  677.50 
2RS  Cellar  424.00  620.50  455.50  666.50  447.50  655.00  461.50  676.00 
2RS  Sebastien  422.50  619.00  454.00  664.50  446.50  653.50  460.50  674.00 
2RS  Tipple  422.50  619.00  454.00  664.50  446.50  653.50  460.50  674.00 
2RS  Henley  422.50  619.00  454.00  664.50  446.50  653.50  460.50  674.00 
2RS   Average price  424.00  620.50  455.50  666.50  447.50  655.00  461.50  676.00 
6RW  Esterel   399.50  586.50  432.00  632.00  424.00  621.00  438.50  641.50 
Asia Malt 70/30  417.00  610.50  448.00  656.00  440.50  645.00  454.50  665.50 
**  Asia Malt 50/50  412.50  603.50  443.50  649.50  436.00  638.00  450.00  658.50 

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

Graph of the Week



These Days in Business History
September 01
1905 Alberta & Saskatchewan become 8th & 9th Canadian provinces
1923 7.9 earthquake strikes Tokyo & Yokohama, kills 142,000
1962 UN announces Earth population has hit 3 billion

September 02
1930 1st non-stop airplane flight from Europe to US (37 hrs)
1941 Film Academy copyrights Oscar statuette
1987 Philips introduces CD-video

September 03
1778 City Amsterdam signs trade agreement with U.S. rebels
1935 1st automobile to exceed 300 mph, Sir Malcolm Campbell (301.337 mph)
1967 Sweden begins driving on right-hand side of road
Agenda