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E-Malt.com Newsletter 48b
November 27 - November 30, 2008
Open!
Click here to get full size Newsletter


Quote of the week

"The work goes on, the cause endures, the hope still lives and the dreams shall never die."
Edward Kennedy
Currency Rates
Base Currency: Euro, EUR
on 28-November-2008

1 EUR = 1.2906 USD
1 EUR = 0.8388 GBP
1 EUR = 1.5879 CAD
1 EUR = 1.9733 AUD
1 EUR = 123.067 JPY
1 EUR = 2.9018 BRL
1 EUR = 35.3914 RUB
1 EUR = 8.8259 CNY
Base Currency: US Dollar
on 28-November-2008

1 USD = 0.775 EUR
1 USD = 0.6499 GBP
1 USD = 1.2304 CAD
1 USD = 1.5292 AUD
1 USD = 95.3662 JPY
1 USD = 2.2485 BRL
1 USD = 27.4235 RUB
1 USD = 6.8389 CNY
Currency Rates Chart

Equities of the Largest Breweries

Equities of the Largest Breweries

Average Market Prices Change trend

November 28, 2008

Type Crop 2008 Crop 2009
2rs Barley EUR131.0-133.0 EUR146.0-148.0
6rw Barley EUR123.0-125.0 EUR133.0-135.0
2rs Malt EUR357.0-359.0 EUR371.0-373.0
6rw Malt EUR346.5-348.5 EUR354.0-356.0
Feed Barley EUR102.0-104.0 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

EU: EU nations differ in beer taxation questions - report ...Click here
Brazil: “Stable” AmBev to pay near-term debts in a timely manner – Moody’s credit-rating agency ...Click here
Malaysia: GAB brewery posts Q1 results, confident of growth in FY 2009 ...Click here
United Kingdom & Japan: Diageo transfers selling rights for its beers from Sapporo to Kirin Brewery ...Click here
Romania: Ursus Breweries increases sales volume by 24% in the first half of the current financial year ...Click here
United States: MillerCoors embarking on an optimization project ...Click here
Russia & Uruguay: Baltika starts shipping beer to Uruguay ...Click here
Australia: ABB and AWB may merge to lead the barley market ...Click here
India: Indian trader report dropping spot barley prices ...Click here




Denmark & United Kingdom: Enterprise Inns apologizing for miscommunication about delisting Carlsberg beer ...More Info
Malaysia: Carlsberg Malaysia creates a beer-distribution joint venture ...More Info
Russia: Baltika Breweries to distribute Corona Extra ...More Info
United States: Malting barley growers say business unchanged since the creation of MillerCoors ...More Info
Spain: A high fiber no alcohol beer released specially for women ...More Info
Japan & Russia & Moldova: Baltika supplying Asahi beer to Moldova ...More Info
Namibia: A bottling license argument brewing between SABMiller and Namibia Breweries ...More Info
Nepal & India: Indian External Affairs Minister defending Unites Breweries Nepal subsidiary from a strike ...More Info
El Salvador: Leading brewers adopting a self-regulating code ...More Info
Go to our news database with more than 13966 articles.
Today with the possibility to be translated in 7 different languages!
DE FR SP IT PT RU CN

Brewery News

EU: EU nations differ in beer taxation questions - report

Despite EU’s 16-year-old promise to harmonize the structure for excise duties on alcoholic beverages, the variance in tax burdens on beer across the Union is still as large as life, Canadean analytic agency revealed in its latest report.

In its Council Directive 92/83/EEC, the European Union declared its intention to “harmonize the structure for excise duties on alcoholic beverages and alcohol contained in other products to ensure the establishment of the internal market,” analysts remind. Now, a report 'Beer Pricing in Europe - a taxing Question' exposes just how little progress has been made during this time and highlights the wide variance in tax burdens across the European Union.

Europe remains divided between the 'high taxation' markets of Scandinavia and the British Isles and the 'low taxation' countries of Central and Eastern Europe and the Mediterranean.

In Euros, the tax weight on a litre of mainstream beer (using the local standard beer abv %) varies from as low as €0.21 in Bulgaria to as high as €1.59 in Finland.

Experts maintain that such broad variances in the tax weight lead to wide differences in prices that encourage consumers and smugglers to cross borders to capitalise on cheaper prices.

In the member states affected by ...More Info


Brazil: “Stable” AmBev to pay near-term debts in a timely manner – Moody’s credit-rating agency

Moody’s Investors Service, the big credit-rating agency, adjusted its credit outlook on AmBev to reflect a somewhat rocky road ahead, St. Louis Today posted on November, 26.

The Brazilian top brewer is still solidly investment grade, but Moody’s moved its outlook to “stable” from “positive” to reflect ”likely increased pressure on margins” from challenging economics and competition in some of AmBev’s major markets.

Latin America’s biggest brewer, Săo Paulo-based AmBev has leading positions in Argentina, Bolivia, Paraguay and Uruguay. It also has 43 percent of the market in Canada. Its business is now wrapped under the A-B InBev umbrella, so struggles or successes at AmBev could conceivably influence the fortunes of sister company Anheuser-Busch and its St. Louis operations, analysts maintain.

According to Moody’s, AmBev will probably have increased dividend payments and lower free cash flow in the near future. Meanwhile, tight credit is either significantly restricting access to funds or increasing the cost of financing for all issuers in the region, wrote senior analyst Soummo Mukherjee.

It’s fair to point out that AmBev has some of the highest operating profit margins in the beverage industry, which give the company plenty of predictable cash flow. For now, the company’s situation seems stable. Moody’s said ...More Info


Malaysia: GAB brewery posts Q1 results, confident of growth in FY 2009

Guinness Anchor Bhd, a leading Malaysian brewer, posted on November, 26 the results of its first quarter ended September, 30.

According to the company’s statement, its FY 2008 revenue constituted RM365.8 mln (+12.5%), profits amounted to RM63.3 mln.

GAB Chairman Tan Sri Saw Huat Lye said: “We have built upon our position as Malaysia’s clear market leader and further reinforced our reputation within our brand owners’ global network of breweries.”

GAB is number one in both the beer and the stout market in Malaysia. Brand building exercises throughout the year have enabled its brands like Tiger, Heineken and Anchor to all post double-digit growth and Guinness experienced a healthy single-digit growth.

Managing Director Charles Ireland said that the first quarter results augur well for a promising FY09 although challenges remain in the form of rising input cost for GAB’s products and a worsening general economic environment.

For instance, malt prices on the world spot market has gone up by 150 percent, while the price of hops on the same market has spiked to an unprecedented 800 percent. Packaging materials have also seen double digit cost increases.

On prospects for FY09, Charles commented, “We are confident that the full financial year ending June ...More Info


United Kingdom & Japan: Diageo transfers selling rights for its beers from Sapporo to Kirin Brewery

Japanese Kirin Brewery Co. announced it will import and sell Diageo’s Guinness and Kilkenny beers in Japan as from June, 1, Reuters posted on November, 26.

The transfer of rights ends the 44-year sales contract between Kirin’s rival Sapporo Holdings Ltd. and the British brewer.

While Kirin declined to discuss details about its contract with Diageo, Sapporo said it will end its import and sales contract with the British company at the end of May.

Sapporo has sold the three beverages through its joint venture with Diageo. In 2007, their 50-50 venture sold 530,000 cases of Guinness beers. Each case contains 20 633-milliliter bottles.

Sapporo will continue to support sales of Diageo products until its contract expires in May, and will use the change as an opportunity to develop new products, said spokesman Katsuhito Ogawa.

Sapporo first began selling Guinness in Japan in 1964, according to Ogawa.


Romania: Ursus Breweries increases sales volume by 24% in the first half of the current financial year

Ursus Breweries, SABMiller’s Romanian subsidiary, announced its sales volume grew 24% in the first half of the current financial year (April – September), Financiarul posted on November, 27.

This increase represents a four-fold higher pace as against the domestic market and is twice as much from the European one, the brewer reported.

“On a market with a pronounced slowed down growth pace, we concluded the first half of the year with a four-fold higher growth than the market’s”, announced Ursus Breweries CEO Stephan Maria Weber.

According to the company’s statement which quotes studies conducted by MEMRB research firm, Ursus Breweries held a share of 26.3% of the Romanian beer market as of end of September.

According to the company representatives, all brands in Ursus Breweries portfolio recorded remarkable performances in the first six months of the current financial year. As such, Timisoreana continued to enjoy the highest growth pace in volume on the mainstream segment (31%), consolidating its leading position on the beer market.

At company level, the biggest advance was recorded by Peroni brand, with twice as much sales and an expanded distribution. As well, Ciucas showed the highest growth on the economy segment (19%) and the new Stejar Pilsner also surged by ...More Info


United States: MillerCoors embarking on an optimization project

MillerCoors has begun implementing an 18-month network optimization project, Ag Weekly cited a company spokesperson on November, 26.

Aimee Valdez, a spokesperson for MillerCoors, said the project aims at shifting volume and brewing both Miller and Coors products throughout the expanded network of eight major breweries.

These moves will reduce shipping distances and deliver products to market quicker.

The company reported work had just been completed on the Irwindale, Calif., brewery, which allows Coors Light to be produced on both the East and West coasts.

Reduced transportation costs and increased efficiency were among the reasons given by MolsonCoors Brewing Co. and SABMiller PLC when their merger was announced in July this year.


Russia & Uruguay: Baltika starts shipping beer to Uruguay

Russia’s major brewer Baltika has started shipping its beers to Uruguay and is planning to enter other markets of Latin America, RIA Novosty cited the company’s press release on November, 27.

“Starting shipments to Uruguay is an important step in the development of our business in Latin America. This will allow us to enter the other markets of Mercosur, including those of Brazil and Argentina,” Dmitry Kistev, Baltika’s Export Sales Director, is quoted as saying.

At the first stage, Baltika beers will be sold in the major distribution networks of the capital Montevideo. Later the brewer’s products will be available through big wholesale companies across the nation.

Baltika’s main competitors in Uruguay are the beers exported from Argentina, Brazil, Mexico, and Germany.


Barley News

Australia: ABB and AWB may merge to lead the barley market

Talks are continuing about the possibility of an AU$2.3 billion merger of Australia's two largest grain companies – ABB and AWB, Farm Online reported on November, 27.

According to sources close to the situation, ABB's managing director Michael Iwaniw and AWB's managing director Gordon Davis have openly said that they would be keen to pursue the idea.

However, on November, 28, AWB said in a statement that the talks are continuing and may not lead to an agreement.

With both companies posting significant profits this year – ABB announced a full-year net profit of AU$48.8 million on Nov. 25 and AWB posted an AU$64.3 mln profit last week – it would create a company with the lion's share of market capitalisation in the Australian grain market.

Experts say that with the first year of a completely deregulated grain market causing angst for a number of growers, there is probably an attraction for many in dealing with a company that combines Australia's previous single desk marketers for wheat and barley.

Mr Iwaniw said any merger or acquisition would have to benefit shareholders.

“Australian agricultural companies need to consolidate to gain further geographic diversity,” ABN Amro Morgans Ltd. analyst Belinda Moore said in a report to clients. “It ...More Info


India: Indian trader report dropping spot barley prices

Barley prices dropped on November, 28 due to the stagnant market situation in the spot market followed by lower buying by the poultry industries along with lower export demand, Commodity Online reported on the same day.

According to experts, the bearish sentiment in spot market was also maintained by a sturdy sowing progress of barley crop during the current rabi season.

Most of the malting companies were sidelined from last one month as most of the companies are sitting with hefty inventories, India’s traders report.

In Rajasthan’s biggest markets, the daily arrivals of barley are at around 2000-3000 bags with the price range of Rs 1080-1100 per quintal (exclusive of all taxes), it is reported.

Scientific Digest

Long Term Serial Repitching and the Genetic and Phenotypic Stability of Brewer’s Yeast

Chris D. Powell and Andrew N. Diacetis

Abstract

ABSTRACT J. Inst. Brew. 113(1), 67–74, 2007 Two brewing yeast strains, one employed for the production of an ale type product and the other used solely for bottle conditioning, were serially repitched over a period of one year. Subsequently each yeast culture was compared to the original stocks for a variety of phenotypic and genotypic characteristics. Fermentation performance was assessed in terms of flocculation capacity and the time required to achieve attenuation in 150 barrel fermentation vessels, while the propensity for the population to accumulate variants was assessed by analysing giant colony morphology. Changes to the genome were monitored by DNA fingerprinting of each yeast culture using RAPD-PCR and RFLP. Although some colony morphology variation was observed between fresh and old ale yeast cultures, there were no detectable genetic changes or alterations in fermentation characteristics to either yeast strain over the course of serial repitching. It is suggested that although some brewing yeast strains are susceptible to genetic drift, others are more resilient and can remain stable over extended periods of time. The propensity to produce variants may therefore play a significant role in determining the number of times a strain may be serially repitched, or its suitability for beer fermentations. Key words: cropping, flocculation, genetic drift, RAPD, RFLP, Saccharomyces. Load full article, 5 pages, 5952Kb, PDF file

Barley Prices

French Malting Barley Prices. Nominal prices
EURO = USD 1.2906 November 28, 2008 
 Crop year   2008   2009 
 Parity   FOB Creil   FOB Creil 
 Position   July 2008   July 2009 
Type   Variety  EURO  USD  EURO  USD 
2RS  Scarlett  134.00  173.00  149.00  192.50 
2RS  Prestige  133.00  172.00  148.00  191.50 
2RS  Cellar  132.00  170.50  147.00  190.00 
2RS  Sebastien  131.00  169.50  146.00  188.50 
2RS  Tipple  131.00  169.50  146.00  188.50 
2RS  Henley  131.00  169.50  146.00  188.50 
6RW  Esterel   124.00  160.50  134.00  173.00 

French Feed Barley Prices. Nominal prices
EURO = USD 1.2906 November 28, 2008
Crop year 2008
Parity FOB Creil
Position July 2008
Type EURO USD
Feed Barley 103.00 133.00


Theoretical Malt Prices

EURO = USD 1.2906 November 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  360.50  465.50  392.00  505.50  384.00  495.50  398.50  514.00 
2RS  Prestige  359.50  463.50  390.50  504.00  383.00  494.00  397.00  512.50 
2RS  Cellar  358.00  462.50  389.50  502.50  381.50  492.50  396.00  511.00 
2RS  Sebastien  357.00  460.50  388.00  501.00  380.50  491.00  394.50  509.50 
2RS  Tipple  357.00  460.50  388.00  501.00  380.50  491.00  394.50  509.50 
2RS  Henley  357.00  460.50  388.00  501.00  380.50  491.00  394.50  509.50 
2RS   Average price  358.00  462.50  389.50  502.50  381.50  492.50  396.00  511.00 
6RW  Esterel   347.50  449.50  379.50  489.50  372.00  480.00  386.00  498.50 
Asia Malt 70/30  355.50  458.50  386.50  498.50  378.50  488.50  393.00  507.00 
**  Asia Malt 50/50  353.50  456.00  384.50  496.00  376.50  486.50  391.00  504.50 


EURO = USD 1.2906 November 28, 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  374.50  483.00  405.50  523.50  398.00  513.50  412.00  531.50 
2RS  Prestige  373.00  481.50  404.50  521.50  396.50  512.00  411.00  530.00 
2RS  Cellar  372.00  480.00  403.00  520.00  395.50  510.50  409.50  528.50 
2RS  Sebastien  370.50  478.50  402.00  518.50  394.00  508.50  408.50  527.00 
2RS  Tipple  370.50  478.50  402.00  518.50  394.00  508.50  408.50  527.00 
2RS  Henley  370.50  478.50  402.00  518.50  394.00  508.50  408.50  527.00 
2RS   Average price  372.00  480.00  403.00  520.00  395.50  510.50  409.50  528.50 
6RW  Esterel   355.00  459.50  387.00  499.50  379.50  489.50  393.50  508.00 
Asia Malt 70/30  367.00  473.50  398.50  514.00  390.50  504.00  405.00  522.50 
**  Asia Malt 50/50  364.00  469.50  395.00  510.00  387.50  500.00  401.50  518.50 

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

Table of the Week

Finland's domestic beer sales 2001 - 2007
% alc. vol. 2001
hl
2002
hl
2003
hl
2004
hl
2005
hl
2006
hl
2007
hl
4.7 % alc.vol 28,335 28,018 25,719 22,950 20,841 20,415 18,638
2.9 – 4.7 alc.vol. 368,014 373,733 367,943 386,516 397,336 398,556 401,449
Max 2.8 alc.Vol. 12,112 11,857 10,084 8,445 7,282 6,699 6,230
Total 408,461 413,609 403,746 417,918 425,459 425,670 426,317
Source: Finnish Federation of the Brewing and Soft Drinks Industry.
Note: The statistics do not include sales by actors outside the Federation, nor private imports of brewery products, which are not statistically recorded.
Graph of the Week


Source: USDA

These Days in Business History
November 27
1895 Alfred Nobel establishes Nobel Prize
1962 1st test flight of the Boeing 727 takes place

November 28
1895 The Chicago Times-Herald sponsors the first automobile race in U.S. history. The winner’s average speed clocks in at roughly 7 mph
1946 1st Polaroid camera sold

November 29
1775 Sir James Jay invents invisible ink
1877 Thomas Edison demonstrates hand-cranked phonograph
1993 CNN/fn, the financial network by Turner Enterprises, launched

November 30
1886 1st commercially successful AC electric power plant opens, Buffalo
1924 1st photo facsimile transmitted across Atlantic by radio (London-NYC)
1983 Police free kidnapped beer magnate Alfred Heineken in Amsterdam
2005 First human face transplant is performed in France
Agenda