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E-Malt.com Newsletter 11b
March 12 - March 15, 2009
Open!
Click here to get full size Newsletter


Quote of the week

"Give a man a pint of beer and he will drink it. But teach a man to brew, and he will rule the world"

Currency Rates
Base Currency: Euro, EUR
on 13-March-2009

1 EUR = 1.2814 USD
1 EUR = 0.9263 GBP
1 EUR = 1.6499 CAD
1 EUR = 1.9784 AUD
1 EUR = 124.315 JPY
1 EUR = 2.9942 BRL
1 EUR = 45.2136 RUB
1 EUR = 8.7762 CNY
Base Currency: US Dollar
on 13-March-2009

1 USD = 0.7805 EUR
1 USD = 0.7228 GBP
1 USD = 1.2876 CAD
1 USD = 1.5438 AUD
1 USD = 97.0147 JPY
1 USD = 2.3368 BRL
1 USD = 35.2859 RUB
1 USD = 6.8492 CNY
Currency Rates Chart

Equities of the Largest Breweries

Equities of the Largest Breweries

Average Market Prices Change trend

March 13, 2009

Type Crop 2008 Crop 2009
2rs Barley EUR115.0-119.0 0.85% EUR141.0-145.0 1.38%
6rw Barley EUR108.0-112.0 1.79% EUR123.0-127.0 1.57%
2rs Malt EUR333.5-337.5 0.30% EUR357.0.0-361.0 0.69%
6rw Malt EUR324.0-328.0 0.76% EUR334.0-338.0 0.74%
Feed Barley EUR97.0-101.0 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

China: China Resources Snow Breweries adds Shandong province to its brewing geography ...Click here
South Africa: SABMiller to save costs as it feels growing competition and increasing consumers’ preference of cheaper beer ...Click here
Belgium & China: AB InBev opens a new beer plant in southern China ...Click here
Japan & Philippines: Kirin may launch a bid for San Miguel’s Asian beer business later this year ...Click here
Poland: Carlsberg Polska fails to keep up with rival brewers in 2008 ...Click here
World: Total barley production expected to be up 17% on 2007/2008 – IGC ...Click here
United States: Barley markets see little movement in prices ...Click here
EU: No changes and no buyers for both feed and malting barley ...Click here




South Korea: AB InBev's Oriental Brewery still highly attractive for Lotte Group beverage conglomerate - sources ...More Info
Japan: Asahi’s total domestic beer sales fall 37.5% in February ...More Info
Philippines: San Miguel Brewery bond offer finally given green light ...More Info
United Kingdom: UK licensees stock Carling as number one beer brand ...More Info
World: No definite results in the battle for world leadership between Snow Beer and Budweiser ...More Info
Belgium: Alken-Maes brewery announces a 3.5% price increase ...More Info
Russia: Analysts differ in forecasts for the Russian beer market ...More Info
Australia: Barley Australia posts preferred malting barley varieties list ...More Info
China: Chongqing Brewery posts a 7% increase in main operating turnover for 2008 ...More Info
Ukraine: SUN InBev Ukraine’s net profit drops 5.4 times in 2008 ...More Info
Russia & Lebanon: Baltika becomes the first and only Russian brewer to sell its beer in Lebanon ...More Info
South Korea: Hite Brewery shares rise on report its bid for AB InBev’s Oriental Brewery rejected ...More Info
United Kingdom: A research shows Britons prefer imported beer brands ...More Info
Serbia: Brewer Belgrade Beer Industry sums up the results of its first year after the privatisation ...More Info
Peru: Producers plan to export beer made with coca to South Africa and China ...More Info
South Korea: Miller beers promotion in Korea to gather momentum ...More Info
Ukraine: Beer import plummets 87.1% in January ...More Info
Philippines: San Miguel Brewery unlikely to put in place backstop facility as funds raised from onshore bond market are enough – banking sources ...More Info
Latvia: Latvian brewers sign Industry Self-Regulation Code ...More Info
United Kingdom: InBev UK and Ireland boss to head the brewer’s enlarged business ...More Info
Go to our news database with more than 14554 articles.
Today with the possibility to be translated in 7 different languages!
DE FR SP IT PT RU CN

Brewery News

China: China Resources Snow Breweries adds Shandong province to its brewing geography

China Resources Snow Breweries Limited (or “CR Snow”), a subsidiary of China Resources Enterprise, Limited and a joint venture with SABMiller plc, announced on March, 13 that it has agreed to acquire the brewing assets of Shandong Hupo Brewery (or “Hupo Brewery”) through the formation of a joint venture in which it will initially own a 90% equity interest.

The joint venture partner has undertaken to dispose of its 10% equity interest in the joint venture to CR Snow within three years after the joint venture is formed. The total cash consideration for the acquisitions amounts to about RMB285 million, China’s largest brewer said.

Hupo Brewery is situated in Zouping county, northern Shandong Province. Hupo Brewery has an annual production capacity of 270,000 kiloliters and upon completion of the acquisition, approximately RMB54 million will be spent on technology upgrades to the existing facilities in order to align with the production requirements for Snow beer and to increase its capacity to 300,000 kiloliters. Its sales volume amounted to approximately 55,000 kiloliters in 2007. Although CR Snow does not have any plant in Shandong Province, about 80,000 kiloliters of Snow beer was sold there last year.

The acquisition will enable CR Snow to establish ...More Info


South Africa: SABMiller to save costs as it feels growing competition and increasing consumers’ preference of cheaper beer

SABMiller PLC's South African division is planning to make ZAR350 million ($33 million) worth of cost savings in 2010, Dow Jones communicated on March, 11.

According to the unit’s managing director Norman Adami, the brewer is seeking to increase investment behind its brands in the face of worsening economic pressures and increased competition.

Mr Adami said that the cost savings would be generated through productivity savings and increased efficiencies. No job losses or plant closures are planned.

An extra ZAR364 million will be invested in the unit's business as it faces increased competition from a joint venture between Diageo PLC and Heineken NV.

Extra marketing investment will account for ZAR284 million of the above mentioned sum, according to the managing director. "Our intention is to make sure we are more than sufficiently investing in the brands," Adami said.

Adami described the efficiency targets as pretty aggressive. "These are world class performance levels," he said, adding, "we have set our sights high."

Adami said the investment was partly a response to the emergence of Brandhouse as a stronger competition.

SABMiller lost its deal to brew and sell Heineken's Amstel brand in South Africa in 2007. The brand had accounted for 9% of the unit's ...More Info


Belgium & China: AB InBev opens a new beer plant in southern China

Belgium-based world's largest brewer AB InBev has opened a new factory in Foshan, Guangdong province, the China Daily reported on March, 13.

Constructed at a cost of CNY600 million, the new factory is expected to help the company further expand in southern China.

The factory, Budweiser (Foshan) Brewing, has the capacity to produce 260,000 tons of beer annually under the brands Budweiser and Harbin. This capacity will be enhanced moving forward.

YR Cheng, president of Anheuser-Busch InBev China, said: "Our mission is to become the most profitable and efficient brewer in China. The opening of Foshan Brewery will further consolidate the leading market position of Anheuser-Busch InBev in China, especially its market share in south China."


Japan & Philippines: Kirin may launch a bid for San Miguel’s Asian beer business later this year

Kirin Holdings Co. may launch a bid for San Miguel Corp.’s Asian beer production and sales operations from the later half of this year, after its ¥127-billion acquisition of a 49% stake in San Miguel Breweries is completed in May, Dow Jones reported on March, 11.

"It’s not easy to find the right partner to expand our business in Southeast Asia, so we really value the opportunity to discuss further investments in San Miguel," Kirin’s chief executive Kazuyasu Kato shared.

Formal negotiations have yet to commence as Kirin is focusing on completing its acquisition of San Miguel Breweries.

"After we finalize our transaction in San Miguel Breweries, a possible investment in San Miguel International will be our next step," said Kato.

To boost its presence in the Asia and Oceania market, Japan’s second largest brewer by market share has its eyes on San Miguel Corp.’s unlisted overseas beer business unit, San Miguel International, which is comprised of six breweries across Hong Kong, China, Indonesia, Vietnam and Thailand.

In addition to San Miguel brands, San Miguel International also markets local labels such as "Anchor" in Indonesia and "Dragon Beer" in China.

San Miguel’s international beer operations’ revenue for the nine months ended September 2008 was $213 million, ...More Info


Poland: Carlsberg Polska fails to keep up with rival brewers in 2008

The East European market continues to be a disappointment to Carlsberg. In 2008 the Polish market experienced a decline both in volume and market share for the subsidiary Carlsberg Polska, news2biz posted on March, 4.

“Last year was not easy for the Polish beer industry. We had to overcome price increases for raw materials and packaging. The consequent increase of the retail prices, combined with a weakened economic climate, had a negative effect on the beer consumption in Poland,” Piotr Majchrzak, Carlsberg Polska CFO, said.

Carlsberg Polska had a volume decline of 5 per cent compared to the SABMiller unit Kompania Piwowarska’s sales increase of 6.2 per cent while the Heineken owned Grupa Zywiec had a sales growth of 3.5 per cent.

The Carlsberg subsidiary’s market share fell by 1 percentage point to 13.6 per cent, while its two rivals increased their market share by 41.1 per cent and 33.8 per cent respectively.

The Polish beer market grew totally 1.7 per cent in volume – far below the previous years’ growth in the range of 8 per cent.

This seems to indicate that the market is getting saturated as the Poles already account for one of Europe’s largest beer consumption ...More Info


Barley News

World: Total barley production expected to be up 17% on 2007/2008 – IGC

ONIGC posted the International Grain Council’s estimates of the 2008/2009 crop year on March, 11.

Total world barley production is estimated at more than 156 mln tonnes in 2008/2009 (+ 17% on 2007).

EU - 27 barley production is estimated at 66 mln tonnes (+ 8.5 mln tonnes compared to 2007).

Ex-USSR nations are expected to produce 41 mln tonnes of barley in the current season (+ 14 mln tonnes on 2007), of which 23 mln tonnes will be harvested in Russia and 13 mln tonnes will be produced in Ukraine, ONIGC said citing IGC data.

Canada’s barley production if forecast to constitute 12 mln tonnes (+ 1 mln tonnes compared to 2007).

Australia is expected to produce 7 mln tonnes of barley in 2008/2009, 1 mln tonnes more than in the previous season.

World’s barley consumption is forecast to amount to 148 mln tonnes (+ 10 mln tonnes compared to 2007/2008). Feed use is expected to be 102 mln tonnes (+ 10 mln tonnes compared to the previous crop year): industrial use (use by the brewing industry in particular) is to exceed 28 mln tonnes, according to ONIGC/IGC data.

World barley trade is to increase by 26% from 2007/2008 to 19.5 mln tonnes this season. Barley ...More Info


United States: Barley markets see little movement in prices

Low export demand, good crops in 2008, and little barley movement in the country has provided for little movement in barley prices, The Farm & Ranch Guide reported on March, 12.

Despite this lackluster price performance in recent weeks, the current prices are high enough that barley growers are generally optimistic about including barley in their farm cropping plans for 2009, according to Steve Edwardson, executive administrator of the North Dakota Barley Council.

“Sales to Japan thus far in 2009 have been sluggish, largely due to Australia regaining market share in Japan,” Edwardson said. “However, Japan continues to look at the U.S. as a reliable feed barley supplier.”

In addition, a better malting barley crop in the Land Down Under is also having an impact on the malting barley situation in the rest of the world, according to Bruce Burnett, the Canadian Wheat Board's director of weather and marketing analysis. He recently said that the number of barley acres planted in Canada will likely drop off because of the improved Australian crop that's being harvested.

Buyers of malting barley in the U.S. contracted a significant portion of their production needs in 2008 and Edwardson expects that trend will continue in 2009.

“Currently contract prices for ...More Info


EU: No changes and no buyers for both feed and malting barley

The quotations of feed barley have changed very slightly this week on a completely deserted market, La Depeche posted on March, 13.

The demand is at its lowest and it is absolutely impossible to keep prices. The producers of animal feed seem to be fully covered.

The situation on the EU’s malting barley market has not changed at all this week. With an absolute lack of transactions, the prices have preserved their downward trend.

Scientific Digest

Hydrolysis of Brewers’ Spent Grain by Carbohydrate Degrading Enzymes

Pirkko Forssell, Hanna Kontkanen, Henk A. Schols, Sandra Hinz, Vincent G.H. Eijsink, Janneke Treimo, Jim A. Robertson, Keith W. Waldron, Craig B. Faulds and Johanna Buchert

Abstract:
J. Inst. Brew. 114(4), 306–314, 2008 In this work four commercial cellulase-hemicellulase mixtures with different activity profiles were used for solubilization of carbohydrates from brewers’ spent grain (BSG). After the enzyme treatment, both the solubilised fraction and the unhydrolysed residue were characterized. Treatment with 5,000 nkat/g xylanase for 5 h at 50°C resulted in the solubilisation of 13–14% of the BSG dry weight as monosaccharides. This corresponded to the solubilisation of 26–28% of the original carbohydrates and 30–34% of original arabinoxylans, depending on the enzyme cocktail used. The relatively low hydrolysis level indicates that the majority of the BSG biomass is rather recalcitrant towards the cellulose-hemicellulase enzyme mixtures applied in this study. The enzyme activity profile had a crucial impact on the chemistry of the oligosaccharides produced through the solubilisation of BSG. The presence of feruloyl esterase (FAE) activity in the enzyme cocktail resulted in the production of free ferulic acid, arabinoxylo-oligosaccharides and their corresponding monomers. However, when the enzyme mixture was devoid of FAE activity, ferulic acid was still bound to the oligosaccharides. The unhydrolysed fraction was still found to contain over 40% of carbohydrates after enzymatic treatment despite the extensive enzyme dosages used. The protein fraction remained largely unaffected (i.e. insoluble) by the carbohydrate-disrupting enzyme treatments. In addition to the recalcitrant carbohydrates, the residue was enriched with lignin and lipid type structures. Key words: brewers’ spent grain, cellulase, hydrolysis, xylanase. Load full article, 9 pages, 4748 Kb, PDF file

Barley Prices

French Malting Barley Prices. Nominal prices
EURO = USD 1.2814 March 13, 2009 
 Crop year   2008   2009 
 Parity   FOB Creil   FOB Creil 
 Position   July 2008   July 2009 
Type   Variety  EURO  USD  EURO  USD 
2RS  Scarlett  119.00  152.50  145.00  186.00 
2RS  Prestige  118.00  151.50  144.00  184.50 
2RS  Cellar  117.00  150.00  143.00  183.50 
2RS  Sebastien  116.00  149.00  142.00  182.00 
2RS  Tipple  116.00  149.00  142.00  182.00 
2RS  Henley  116.00  149.00  142.00  182.00 
6RW  Esterel   110.00  141.00  125.00  160.50 

French Feed Barley Prices. Nominal prices
EURO = USD 1.2814 March 13, 2009
Crop year 2008
Parity FOB Creil
Position July 2008
Type EURO USD
Feed Barley 99.00 126.86


Theoretical Malt Prices

EURO = USD 1.2814 March 13, 2009, 2009 
Crop year  2008 
Parity  FOB Antwerp 
Position  Mar 2009 - Sept 2009 
Conditioning  Bulk   In bags  Bulk containers Bags, containers
Malting barley variety  EURO USD EURO  USD EURO USD  EURO  USD
2RS  Scarlett  338.00  433.00  369.00  473.00  361.50  463.00  375.50  481.50 
2RS  Prestige  336.50  431.50  368.00  471.50  360.00  461.50  374.50  479.50 
2RS  Cellar  335.50  429.50  366.50  469.50  359.00  460.00  373.00  478.00 
2RS  Sebastien  334.50  428.50  365.50  468.00  357.50  458.50  372.00  476.50 
2RS  Tipple  334.50  428.50  365.50  468.00  357.50  458.50  372.00  476.50 
2RS  Henley  334.50  428.50  365.50  468.00  357.50  458.50  372.00  476.50 
2RS   Average price  335.50  429.50  366.50  469.50  359.00  460.00  373.00  478.00 
6RW  Esterel   326.00  418.50  358.00  458.50  350.50  449.00  364.50  467.00 
Asia Malt 70/30  333.00  426.50  364.00  466.50  356.50  456.50  370.50  475.00 
**  Asia Malt 50/50  331.00  424.50  362.50  464.50  354.50  454.50  369.00  472.50 


EURO = USD .2814 March 13, 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  361.50  463.00  392.50  503.00  385.00  493.50  399.00  511.50 
2RS  Prestige  360.00  461.50  391.50  501.50  383.50  491.50  398.00  510.00 
2RS  Cellar  359.00  460.00  390.00  500.00  382.50  490.00  396.50  508.50 
2RS  Sebastien  357.50  458.50  389.00  498.50  381.50  488.50  395.50  506.50 
2RS  Tipple  357.50  458.50  389.00  498.50  381.50  488.50  395.50  506.50 
2RS  Henley  357.50  458.50  389.00  498.50  381.50  488.50  395.50  506.50 
2RS   Average price  359.00  460.00  390.00  500.00  382.50  490.00  396.50  508.50 
6RW  Esterel   336.00  431.50  368.00  471.50  360.50  461.50  374.50  480.00 
Asia Malt 70/30  352.50  451.50  383.50  491.50  376.00  481.50  390.00  499.50 
**  Asia Malt 50/50  348.00  445.50  379.00  485.50  371.50  476.00  385.50  494.00 

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

Table of the Week

Canada: Barley Supply and Disposition as of March 6, 2009

. 2007-2008 2008-2009f 2009-2010f
Seeded area, '000 ha 4,397 3,787 3,785
Harvested area, '000 ha 3,998 3,502 3,425
Yield, tonne/ha 2.75 3.36 3.11
Production, '000 metric tonnes 10,984 11,781 10,650
Imports, '000 metric tonnes 58 40 35
Total Supply, '000 metric tonnes 12,532 13,390 12,785
Exports, '000 metric tonnes 3,911 2,500 2,400
Food & Industrial Use, '000 metric tonnes 156 190 190
Feed, Waste, Dockage, '000 metric tonnes 6,567 8,299 7,870
Total Domestic Use, '000 metric tonnes 7,053 8,790 8,385
Carry-out Stocks, '000 metric tonnes 1,568 2,100 2,000
Average Price, CA$/tonne 214 160-190 150-190

f: forecast, Agriculture and Agri-Food Canada, March 6, 2009
Graph of the Week



These Days in Business History
March 12
1365 University of Vienna founded
1970 Digital Equipment Corporation introduces PDP-11 minicomputer
1986 210.25 million shares traded in New York Stock Exchange

March 13
1974 Charles de Gaulle Airport opens near Paris France
1979 European Monetary System is established, ECU created
1986 Microsoft Corp. goes public at an initial offering price of $21 a share, raising $61 million just one day after Oracle Corp.'s own IPO. Microsoft closes the day at $28.

March 14
1634 Académie Française opens
1821 On one of the quietest days in Wall Street history, the market is open, but not a single share of stock changes hands.
1950 General Motors reports net earnings of $656,434,232 (record)

March 15
1817 The New York Stock Exchange officially prohibits the "fictitious sales," or wash sales, that had enabled speculators to manipulate individual stocks without even owning them.
1827 University of Toronto is chartered.
1892 1st escalator patented by inventor Jesse W. Reno (New York City)
Agenda