If you want to see this letter from our site, please follow this link. http://www.e-malt.com/Publications.asp?5408
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 08b
February 19 - February 22, 2009
Open!
Click here to get full size Newsletter


Quote of the week

"There's only one corner of the universe you can be certain of improving, and that's your own self"
Aldous Huxley
Currency Rates
Base Currency: Euro, EUR
on 20-February-2009

1 EUR = 1.2632 USD
1 EUR = 0.883 GBP
1 EUR = 1.5866 CAD
1 EUR = 1.9611 AUD
1 EUR = 118.504 JPY
1 EUR = 2.9649 BRL
1 EUR = 45.4643 RUB
1 EUR = 8.6486 CNY
Base Currency: US Dollar
on 20-February-2009

1 USD = 0.7917 EUR
1 USD = 0.699 GBP
1 USD = 1.256 CAD
1 USD = 1.5526 AUD
1 USD = 93.8053 JPY
1 USD = 2.3471 BRL
1 USD = 35.9908 RUB
1 USD = 6.8465 CNY
Currency Rates Chart

Equities of the Largest Breweries

Equities of the Largest Breweries

Average Market Prices Change trend

February 20, 2009

Type Crop 2008 Crop 2009
2rs Barley EUR123.0-127.0 1.57% EUR153.0-157.0 3.13%
6rw Barley EUR118.0-120.0 EUR138.0-142.0
2rs Malt EUR342.5-346.5 0.72% EUR371.5-375.5 1.71%
6rw Malt EUR335.5-337.5 EUR353.0-355.0
Feed Barley EUR103.0-107.0 3.67% 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

Japan & Philippines: Kirin to buy a 43% stake in San Miguel Brewery for $1.2 bln ...Click here
Russia: Baltika reports successful 2008, CEO expects Russia’s total beer market to either stagnate or shrink by roughly 2 percent in 2009 ...Click here
Australia: Lion Nathan brewery says first-quarter performance was in line with expectations ...Click here
Ukraine: Slavutich Carlsberg Group increases market share, sales volume in 2008 ...Click here
Latvia: Beer sales fall by 4% in 2008 ...Click here
Kenya: East African Breweries increases sales by 12% in H1 ended December 2008 ...Click here
EU: Feed and malting barley markets show no change ...Click here
France: Alsace hops growers to lose their main customer ...Click here




Belgium: AB InBev closes retail public offering of €750 mln five-year notes ...More Info
South Korea: More rumours about Oriental Brewery sale ...More Info
Turkey: Efes brewery outlook revised to Negative by Fitch Ratings ...More Info
Malaysia: Carlsberg Malaysia not to pay special dividend as it keeps money for acquisitions ...More Info
Australia: Victorian farmers demand a revision of feed barley segregations ...More Info
Philippines: San Miguel Brewery files registration for multi-billion bonds ...More Info
Peru: Backus brewery to follow its investments plans despite crisis ...More Info
Jordan: Jordan buys 125 thousand tonnes of feed barley with shipment due in April ...More Info
Russia: State Duma to consider technical regulations on beer this spring ...More Info
Ukraine & Moldova: Slavutich Carlsberg Group becomes the official distributor of Corona Extra ...More Info
Go to our news database with more than 14425 articles.
Today with the possibility to be translated in 7 different languages!
DE FR SP IT PT RU CN

Brewery News

Japan & Philippines: Kirin to buy a 43% stake in San Miguel Brewery for $1.2 bln

Kirin Holdings Company Ltd and San Miguel Corporation (SMC) have entered into a Share Purchase Agreement by which Kirin purchases the shares in San Miguel Brewery, Inc. (SMB), the domestic beer business subsidiary of SMC, the Japanese brewer announced on February, 20.

Kirin will purchase 6,665,023,690 shares in SMB (43.249% of the issued and outstanding shares) from SMC through a private transaction at a purchase price of Php8.841 per share, resulting in the total acquisition price of approximately Php58.93 bln ($1.2 billion). The purchase will be made in two phases, targeting for final closing by the end of May 2009.

In addition, Kirin said it would launch a tender offer to purchase additional shares form SMB shareholders other than SMC. All the shares tendered shall be purchased by Kirin at the same price as the purchase price for SMC. By combining both transactions, Kirin will be able to obtain up to 7,551,134,690 SMB shares (49% of the outstanding shares).

Besides, Kirin, SMC and SMB will undertake to negotiate exclusively for SMB’s potential purchase of shares in SMC’s overseas beer business. The exclusivity will be in effect for six months after SMC’s announcement of its intent to sell the shares in its overseas beer ...More Info


Russia: Baltika reports successful 2008, CEO expects Russia’s total beer market to either stagnate or shrink by roughly 2 percent in 2009

Baltika Breweries, the leader on the Russian beer market, announced on February, 19 its financial results for 2008.

The company’s revenue increased by 17.2% to 92,482.3 mln roubles, gross profit was 45,813.8 mln roubles (+11.5%), EBITDA was 27,056.3 mln roubles (+ 15.5%), and net profit grew 11.1% to 15,511.3 mln roubles.

Despite the deepening of the world financial crisis, in Q4 the Company delivered good results: sales volume in Q4 amounted to 9.4 mln hl, revenue increased by 11.8% and amounted to 19,644.4 mln roubles, and EBIT grew by 27.3% to 4,023.7 mln roubles.

In 2008, Baltika’s beer sales volume was 44.5 mln hl (+ 1.8% compared to 2007).

Against the background of a slight decline in the volume of the Russian beer market in 2008, Baltika delivered growth in sales and increased its market share: at year’s end it stood at 38.3%, which is 0.7% greater than in 2007.

The volume of export sales in 2008 grew by +11.6% compared to the preceding year and came to 2.2 mln hl. The growth in export sales amounted to 16.8%, including licensed sales.

n 2008, sales growth of the Baltika brand amounted to +14.5%, including growth of the premium variety Baltika №7 Export (+24%), Baltika Cooler (+22%), ...More Info


Australia: Lion Nathan brewery says first-quarter performance was in line with expectations

Brewer Lion Nathan Ltd announced on February, 19 its trading update for the quarter ended December 31, 2008.

The company said its net sales revenue growth was approximately 15% and beer volume increased by 9% to 221 mln litres over the reporting period.

The Australian beer market remains robust with a growth rate of 2.3% for the quarter and 0.2% on a MAT basis as measured by AC Nielsen, Lion Nathan said. Adjusting prior year volumes to include Boag’s, the brewer grew volumes by 2.5% in the quarter.

According to Lion Nathan, Australian consumers continue to move towards premium and step-up beers and the low-carb and midstrength categories remain in healthy growth. XXXX Gold, Tooheys Extra Dry, James Squire and Hahn Super Dry all performed strongly over the first quarter.

The Boag's brands performed well over Christmas and remained a key driver for the company.

Lion Nathan’s New Zealand business grew volumes by one per cent. Net sales revenue for beer, wine, spirits and RTDs (ready-to-drink) was up 2.7 per cent.

The brewer’s domestic beer volume was in line with the same period last year at 50 mln litres, with premium category volume up 10%.

Lion Nathan reported its new Auckland brewery was on track to ...More Info


Ukraine: Slavutich Carlsberg Group increases market share, sales volume in 2008

Slavutich Carlsberg Group, the Ukrainian subsidiary of the Danish brewing giant, announced on February, 19 its results of 2008.

The company’s sales amounted to 8,169 thousand hl (+ 19% on 2007). In money terms, Slavutich’s sales volume constituted UAH2,277 mln (+ 44%). The brewer posted a net loss of UAH 293 million in 2008 compared with a net profit of UAH 43 million in 2007.

The negative result was due to exchange rate losses stemming from loans denominated in foreign currency. However, operating profit rose 12% to UAH 127 million and EBITDA was up 26% to UAH 297 million.

Despite a downturn in the beer market, the company boosted sales volumes and market share, to 23.7% from 20.4% in 2007.

Over the last year, the share of the company’s main trade mark Slavutich grew by 28.5%. The brand’s share on the domestic market increased by 1.8% to 8% in 2008.

The Tuborg trade mark increased sales by 15%. Its share of the Ukrainian market grew 0.3% to 2.3%. The Baltika brand achieved a sales growth of 26.3%, its share of the market grew by 0.5% to 2.3% in 2008. The share of the Baltika brand within the premium segment constituted about 30%.

Sales of Lvovskoye ...More Info


Latvia: Beer sales fall by 4% in 2008

In 2008, for the first time in six years, the volume of alcohol sales in Latvia decreased, The Baltic Course cited on February, 19 data by the State Revenue Service's (SRS).

In 2008 the total volume of alcoholic beverages sold in the country was almost 4% lower than in 2007, whereas beer sales fell by 4% on 2007, it is reported.

Last year, about 1.46 mln hl of beer was sold in Latvia, compared with 1.52 mln hl in 2007. Both Latvia-produced and imported beer sales volumes shrunk.

SRS points out that in the first four months of the last year, or before the economic downturn began in Latvia, alcohol sales volume was relatively high, which allowed the total alcohol excise tax revenue in 2008 to surpass the results of 2007, although the sales volumes decreased significantly after May.

Altogether, the excise tax revenue from alcohol and beer sales in 2008 totalled LVL 101.2 million, which is nearly 1% up on 2007.

Beer comprised 67% of total alcoholic beverages sales in 2008, it is reported.


Kenya: East African Breweries increases sales by 12% in H1 ended December 2008

East African Breweries reported on February, 20 a 5 percent rise in first-half pretax profit to 6.77 billion shillings ($85 million).

“Despite the difficult business environment that we faced across the region, I am pleased to announce that we grew our volumes by 8% and our net sales by 12%,” the company's managing director Gerald Mahinda said.

The brewer’s net profit increased 5% to 4.05 mln shillings in the six months ended December 31, 2008.

Tusker, Guinness, Bell and Senator were the main drivers of the growth both in Kenya and Uganda while the launch of Alvaro in Uganda was successful.

Mahinda admitted that the business had registered weaker growth compared to the same period in 2007 due to the economic slowdown that consequently led to lower disposable income. This coupled with increased taxation in Kenya for both malt and non-malt beers and spirits resulted to increased prices for the products.

“In Kenya there was a large increase in excise tax on non malt beer by 65 % and 300% on local spirits between June and December of last year. This resulted in many consumers shifting to cheaper brands including illicit brews,” Mahinda added.

Production costs increased by 23% due to raw materials cost pressure ...More Info


Barley News

EU: Feed and malting barley markets show no change

Deals on feed barley are closed very rarely and for very small quantities on the EU market, La Depeche reported on February, 20.

The activity on the feed barley market at the moment represents only small adjustments to stocks. Actually, on a market headed downwards, buyers are not in a hurry to close deals. On the other hand, the offer is reported to have slightly risen.

The market of malting barley is fuzzy, traders report. A delayed planting generates uncertainty and the market is blocked by abundant stocks of malting barley. Under the existing conditions, the level of prices is difficult to determine.


Hops News

France: Alsace hops growers to lose their main customer

Anheuser-Busch, now part of the Belgium-based world’s leading brewer AB InBev, is going to terminate its contract with Alsace hops producers, DNA reported on February, 18.

Abandoned by their main customer, Alsace hop growers will most likely have to destroy the production of 350 – 400 ha of their plantings (774 ha in total). Half of the farms, thus, will remain without crop this year. Bernard Ingwiller, President of Cophoudal (union of Alsatian hop growers) said the contract period was to end in 2011. The brewer usually bought 65% of the region’s total hops production.

Scientific Digest

Flavour Instability of Pale Lager Beers: Determination of Analytical Markers in Relation to Sensory Ageing

Sofie Malfliet, Filip Van Opstaele, Jessika De Clippeleer, Evelien Syryn, Koen Goiris1, Luc De Cooman and Guido Aerts

Abstract:
J. Inst. Brew. 114(2), 180–192, 2008 Flavour changes of six Belgian pale lager beers were studied in order to estimate the importance of different parameters and reactions in relation to the ageing process. An attempt was made to link analytical data with sensory evaluation using multivariate statistical analysis. Partial least squares regression techniques (PLSR) were employed on the analytical and sensory data. As apparent from the PLSR model, significant indicators of lager beer ageing are aldehyde markers (especially total aldehydes, furfural, hexanal, 2-methylpropanal, 2-methylbutanal, and 3- methylbutanal), cold and permanent haze, and beer colour. Conversely, compounds or parameters that load negatively in the PLSR model for beer ageing are trans-isohumulones, cis-isohumulones, total bitterness, the T/C-ratio, polyphenolic markers (especially proanthocyanidins), the flavanoid content, and, to a lesser extent, the TB-index and reducing power (TRAP). The integrated analytical-sensorial methodology is proposed as a useful tool for evaluation of the flavour instability of pale lager beers. Key words: analytical markers, beer ageing, flavour instability, partial least squares regression. Load full article, 5 pages, 511 Kb, PDF file

Barley Prices

French Malting Barley Prices. Nominal prices
EURO = USD 1.2632 February 20, 2009 
 Crop year   2008   2009 
 Parity   FOB Creil   FOB Creil 
 Position   July 2008   July 2009 
Type   Variety  EURO  USD  EURO  USD 
2RS  Scarlett  127.00  160.50  157.00  198.50 
2RS  Prestige  126.00  159.50  156.00  197.50 
2RS  Cellar  125.00  158.00  155.00  196.00 
2RS  Sebastien  124.00  157.00  154.00  194.50 
2RS  Tipple  124.00  157.00  154.00  194.50 
2RS  Henley  124.00  157.00  154.00  194.50 
6RW  Esterel   119.00  150.50  140.00  177.00 

French Feed Barley Prices. Nominal prices
EURO = USD 1.2632 February 20, 2009
Crop year 2008
Parity FOB Creil
Position July 2008
Type EURO USD
Feed Barley 105.00 132.64


Theoretical Malt Prices

EURO = USD 1.2632 February 20, 2009 
Crop year  2008 
Parity  FOB Antwerp 
Position  Feb 2009 - Sept 2009 
Conditioning  Bulk   In bags  Bulk containers Bags, containers
Malting barley variety  EURO USD EURO  USD EURO USD  EURO  USD
2RS  Scarlett  347.00  438.50  378.50  478.00  370.50  468.50  385.00  486.00 
2RS  Prestige  346.00  437.00  377.00  476.50  369.50  466.50  383.50  484.50 
2RS  Cellar  344.50  435.50  376.00  474.50  368.50  465.00  382.50  483.00 
2RS  Sebastien  343.50  434.00  374.50  473.50  367.00  463.50  381.50  481.50 
2RS  Tipple  343.50  434.00  374.50  473.50  367.00  463.50  381.50  481.50 
2RS  Henley  343.50  434.00  374.50  473.50  367.00  463.50  381.50  481.50 
2RS   Average price  344.50  435.50  376.00  474.50  368.50  465.00  382.50  483.00 
6RW  Esterel   336.50  426.00  368.50  465.50  361.00  455.50  375.00  473.50 
Asia Malt 70/30  342.50  432.50  373.50  472.00  366.00  462.50  380.50  480.50 
**  Asia Malt 50/50  341.00  430.50  372.50  470.00  364.50  460.50  378.50  478.50 


EURO = USD 1.2632 February 20, 2009
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  376.00  475.00  407.50  514.50  399.50  505.00  414.00  523.00 
2RS  Prestige  375.00  473.50  406.00  513.00  398.50  503.50  412.50  521.50 
2RS  Cellar  373.50  472.00  405.00  511.50  397.50  501.50  411.50  519.50 
2RS  Sebastien  372.50  470.50  403.50  510.00  396.00  500.00  410.50  518.00 
2RS  Tipple  372.50  470.50  403.50  510.00  396.00  500.00  410.50  518.00 
2RS  Henley  372.50  470.50  403.50  510.00  396.00  500.00  410.50  518.00 
2RS   Average price  373.50  472.00  405.00  511.50  397.50  501.50  411.50  519.50 
6RW  Esterel   354.50  448.50  386.50  488.00  378.50  478.50  393.00  496.50 
Asia Malt 70/30  368.00  465.00  399.50  504.50  391.50  494.50  406.00  512.50 
**  Asia Malt 50/50  364.50  460.50  395.50  499.50  388.00  490.00  402.50  508.00 

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

World Malt Imports Estimate

in thousand tons 2005/2006 2006/2007 2007/2008
CIS & Baltic 395 361 254
Europe 161 143 138
N./C. America 641 722 1000
South America 1117 1290 1388
Asia 1302 1375 1485
Africa 555 567 519
Others 52 39 61
Total: 4223 4497 4845
Source: IGC
Graph of the Week



These Days in Business History
February 19
1878 Thomas Alva Edison patents gramophone (phonograph)
1899 Cornelius Vanderbilt Whitney, Pan Am Airways (World airways) founder is born
1969 1st Test flight of Boeing 747 jumbo jet

February 20
1768 1st American chartered fire insurance company opens
1811 Austria declares bankruptcy
1848 Edward H. Harriman is born in Hempstead. By age 50 he commands the Union Pacific and Southern Pacific railways, making him one of the most powerful railroad barons in the world.

February 21
1914 The Hong Kong Stock Exchange (formerly the Association of Stock Brokers in Hong Kong) is established.
1947 Edwin H. Land, founder of Polaroid Corp., demonstrates the instant camera to 650 scientists assembled at the annual meeting of the Optical Society of America.
1988 Peter Kalikow purchases New York Post from Rupert Murdoch for $37.6 million

February 22
1923 Transcontinental airmail service begins
1989 New York Lotto pays $26.9 million to one winner
2006 Apple's iTunes store sells its 1 billionth song
Agenda