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E-Malt.com Newsletter 13b
March 26 - March 29, 2009
Open!
Click here to get full size Newsletter


Quote of the week

"When the bee comes to your house, let her have beer; you may want to visit the bee's house some day."
Congolese Proverb
Currency Rates
Base Currency: Euro, EUR
on 27-March-2009

1 EUR = 1.3574 USD
1 EUR = 0.9328 GBP
1 EUR = 1.6699 CAD
1 EUR = 1.9379 AUD
1 EUR = 133.094 JPY
1 EUR = 3.0402 BRL
1 EUR = 45.5104 RUB
1 EUR = 9.287 CNY
Base Currency: US Dollar
on 27-March-2009

1 USD = 0.7368 EUR
1 USD = 0.6872 GBP
1 USD = 1.2302 CAD
1 USD = 1.4277 AUD
1 USD = 98.0513 JPY
1 USD = 2.2397 BRL
1 USD = 33.5279 RUB
1 USD = 6.8418 CNY
Currency Rates Chart

Equities of the Largest Breweries

Equities of the Largest Breweries

Average Market Prices Change trend

March 27, 2009

Type Crop 2008 Crop 2009
2rs Barley EUR108.0-112.0 1.79% EUR135.0-139.0 0.72%
6rw Barley EUR103.0-107.0 0.94% EUR118.0-122.0
2rs Malt EUR325.0-329.0 0.76% EUR349.5.0-353.5 0.42%
6rw Malt EUR317.5-321.5 0.47% EUR327.5-331.5
Feed Barley EUR93.0-97.0 3.06% 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

Czech Republic: Association of Breweries and Malt Houses reports official results of 2008 ...Click here
Philippines: San Miguel Corp reports a more than doubled net income in 2008 thanks to higher beer sales ...Click here
France: Heineken becomes the new market leader in terms of turnover in 2008 ...Click here
Denmark & Poland: Danish brewer Royal Unibrew sells its Koszalin brewery ...Click here
The Netherlands: Heineken successfully places EUR 1 bln 5-year notes ...Click here
Namibia: Namibia Breweries reports increased beer volumes for the six months ended December 31 ...Click here
Canada: CWB posts its March PRO for the 2008/09 and 2009/10 crop years ...Click here
EU: Market still blocked for malting barley crop 2008 ...Click here
United States: Hops growers worried by huge stocks, too much planting in the US and around the world ...Click here




India: Carlsberg to win a 10% share of India’s mild beer market by launching Tuborg nationally ...More Info
Japan: Craft brewers see potential for growth despite barriers erected by Japanese laws ...More Info
Ukraine: SABMiller expected to sell its more expensive Ukrainian brands ...More Info
Mexico: Grupo Modelo to launch a new brewery early next year ...More Info
Belgium: Alken-Maes brewery to launch next month a renewed Maes Pils ...More Info
Japan: Brewer Sapporo re-elects its directors to extend its takeover defence steps ...More Info
Vietnam: Total beer consumption to amount to 1.5 mln hl next year ...More Info
Finland: Carlsberg risks a drop in sales if it closes Pori brewery – workers’ union ...More Info
United Kingdom: Pubs lose in number to supermarkets for the first time in British history ...More Info
The Netherlands: Heineken expects packaging costs to rise, agricultural costs to remain broadly unchanged in 2009 ...More Info
Ukraine: Retail prices of beer will not grow more than 14.5 – 25% - SUN InBev Ukraine ...More Info
Kenya: East Africa Breweries turns to bar attendants to help grow its beer sales ...More Info
Go to our news database with more than 14638 articles.
Today with the possibility to be translated in 7 different languages!
DE FR SP IT PT RU CN

Brewery News

Czech Republic: Association of Breweries and Malt Houses reports official results of 2008

Breweries in the Czech Republic produced 19.81 million hectolitres of beer last year, 0.5 percent less than in record year 2007 and the second best result thus far, Association of Breweries and Malt Houses chairman Frantisek Samal was quoted as saying by CTK on March, 25.

Domestic beer consumption decreased last year but exports grew and were the highest ever.

Beer consumption on the domestic market fell by 1.3 percent to 16.1 million hectolitres. Exports grew by 3.2 percent to 3.71 million hectolitres.

"Economic problems of the world and domestic economies did not influence the total output of our breweries practically at all and the fall in domestic consumption is being offset by significant growths in exports," said the association's executive director Jan Vesely.

Plzensky Prazdroj was the biggest beer producer last year, trailed by Pivovary Staropramen, Heineken Ceska republika, Budejovicky Budvar and the PMS Prerov group.

The largest breweries produced 86.2 percent of domestic beer. Output of the remaining breweries fell by 0.7 percentage point to 13.8 percent.

Exports of Czech beer more than doubled in the years 2000 to 2008, jumping by 133 percent.

While in 2001, the breweries exported 10.4 percent of their production on average, last year it was already 18.7 percent.

The highest ...More Info


Philippines: San Miguel Corp reports a more than doubled net income in 2008 thanks to higher beer sales

San Miguel Corp, Southeast Asia's biggest food and drinks group, said its net income more than doubled in 2008, thanks to higher beer sales and asset disposals, Reuters reported on March, 26.

Manila-based San Miguel is in the process of moving into power and heavy industry from a saturated food and beverages market.

The company gained 6.66 billion pesos from the listing of its brewery arm in the Philippine bourse. San Miguel makes nine out of 10 beers sold locally.

Its unit San Miguel Brewery, the country's largest beer producer by sales, saw net profit rise 25% to 10.04 billion peso from 8.02 billion pesos on a 4% increase in sales volume and an 11% increase in sales to 48.79 billion pesos.

San Miguel's international beer operations, which span China, Indonesia, Hong Kong, Thailand and Vietnam, posted operating income of $1.97 million compared with a loss of $4.35 million in 2007. Sales increased 24% year-to-year to $282.9 million.

"It's been a significant year in the continuing strategic evolution of San Miguel with our company entering the power, energy and telecommunications sectors," San Miguel President Ramon Ang said in a statement.

That evolution included the company agreeing to sell 43.3 percent of its flagship San Miguel Brewery ...More Info


France: Heineken becomes the new market leader in terms of turnover in 2008

Heineken has become the new leader of France’s beer market in terms of turnover dethroning Carlsberg’s Brasserie Kronenbourg, Le Figaro reported on March, 26.

“2008 was a historical year for Heineken France as we have become the market leader leaving behind our main rival Kronenbourg in terms of turnover,” Frans Eusman, head of Heineken France.

Heineken’s total turnover amounted to EUR1.69 bln last year. Beer sales grew 9.3% from 2007, reaching EUR914 mln. In 2008, Heineken became the best selling brand with 17.3% of the French beer market leaving Kronenbourg with a share of 16.8%. The latter nevertheless remains the number one beer brand in terms of volume.

As for France’s total beer consumption, it has fallen by 30% in the last 13 years. In 2008, the market decreased by 4.8% whereas the drop of beer sales in the cafes, bars, and restaurants reached 12%, it is reported.

“In a declining market, Kronenbourg suffered from the general trend whereas we managed to progress,” Patrick Villemin, Heineken France’s general secretary, said. “This is the result of our premiumization strategy,” he added.

The brewer has implemented a number of innovations which seem to have been the right move: the launch of 15cl mini bottles designed to ...More Info


Denmark & Poland: Danish brewer Royal Unibrew sells its Koszalin brewery

Denmark-based brewer Royal Unibrew has agreed to sell its brewery located in the Polish town of Koszalin to local sector company Van Pur SA, ADP News reported on March, 27.

The sum of the deal has not been disclosed.

The sale is projected to boost Royal Unibrew's earnings before interest and tax (EBIT) and cash-flow for 2009.

After getting approval of the Polish antitrust watchdog, the facility - currently owned by Royal Unibrew Polska - and its staff will be relocated to Van Pur. The clearance is expected by the end of April or the beginning of May.


The Netherlands: Heineken successfully places EUR 1 bln 5-year notes

Heineken N.V. announced on March, 25 that it had successfully placed 5-year Euro Notes for a principal amount of EUR 1.0 billion with a coupon of 7 1/8%.

According to the Dutch brewer, these unrated Notes have been issued under the company’s European Medium Term Note Programme and will be listed on the Luxembourg Stock Exchange. The proceeds of the offering will be used to partially refinance bank loans and for general corporate purposes. The Notes were placed by Barclays, BNP Paribas, Citi, Credit Suisse and ING, Heineken said.


Namibia: Namibia Breweries reports increased beer volumes for the six months ended December 31

Namibia Breweries said revenue increased to N$823 million in the six-month period to 31 December 2008 compared to N$715 million during the same period in 2007, The Economist reported on March, 27.

The company attributed the increase in revenue to growth in sales volume and costs controls.

Profit attributable to ordinary shareholders grew to N$84 million, from N$78 million dollars the previous year.

Beer volumes on the Namibian market grew by 7% during the reporting period, the company said.

“Volumes produced and supplies to South Africa also faired well registering double digit growth for the six months,” the company said without giving figures.

Exports to other markets in Africa also grew with the Angolan market standing out, the company said.

“There were some challenges however, the most worthy of these was in Botswana where a 30% tax on alcoholic beverages in November is having a significant impact on the market,” the company said.

Namibia Breweries recently licensed the Windhoek Lager trademark to Diageo, which will allow Diageo to distribute the Windhoek Lager beer worldwide for the next 10 years.


Barley News

Canada: CWB posts its March PRO for the 2008/09 and 2009/10 crop years

The CWB released on March, 26 its March 2009 Pool Return Outlook (PRO) for the 2008-09 and 2009-10 crop years.

The March PRO for 2008-09 showed no changes in values from last month for malting barley (C$320 per tonne for two-row and C$300 per tonne of six-row malting barley). The value of feed barley dropped by C$3 to C$166 per tonne this month.

PRO Commentary 2008-09 crop year

Feed barley Global feed barley prices moved lower this week, the CWB posted on its website. Large supplies of barley, feed wheat and corn, combined with weakening livestock demand, have put pressure on feed grain prices. Uncertainty about available Argentine corn supplies has provided some support to the feed grain complex.

Designated barley Global malting barley prices weakened this month, as large supplies outweighed demand. However, at this stage in the marketing year, the pool is well sold, and the impact of market price declines on the old-crop PRO is moderate.

In the Board’s March 2009 Pool Return Outlook (PRO) for the 2009-10 crop year, malting barley has declined by C$8 from the February PRO, whereas feed barley was unchanged.

The March PRO is C$255 per tonne of two-row malting barley and C$235 per tonne of six-row malting barley.

PRO Commentary 2009-10 ...More Info


EU: Market still blocked for malting barley crop 2008

EU’s malting barley market is still blocked for the old crop, La Depeche communicated on March, 27.

The demand for the crop 2008 is inexistent though the stock is still high. The crop 2009 also sees very few buyers. The prices are already lower than those for the other cereals, traders report.


Hops News

United States: Hops growers worried by huge stocks, too much planting in the US and around the world

The US hop market has seen a major swing, with the amount of hops in storage surging to the highest level in five years following a shortage last year, Capital Press reported on March, 27.

"It's a market that moves," said Brad Clack, manager of the S.S. Steiner hop brokerage branch in Brooks, Oregon.

Hop stocks rose 24 percent in the past year, to about 82 million pounds, according to the most recent biannual report from the USDA National Agricultural Statistics Service.

The increased supply can largely be attributed to strong production in 2008, which was spurred by a spike in hop prices, said Ann George, administrator of the Washington Hop Commission.

Depleted stocks prompted average U.S. hop prices to climb from about $2 per pound in 2006 to about $3 per pound in 2007 and $4 per pound in 2008, according to the Hop Growers of America.

"In 2006, we basically hit the wall. The surpluses were pretty much gone," George said.

Now, the industry is worried that price signal spurred too much planting in the U.S. and around the world, she said.

Total U.S. hop acreage jumped about 32 percent, to about 49,000 acres, between 2007 and 2008, according to the Hop Growers of ...More Info

Scientific Digest

The Effect of Hydroxycinnamic Acids and Volatile Phenols on Beer Quality

S. E. Iyuke, E. M. Madigoe and R. Maponya

Abstract:
J. Inst. Brew. 114(4), 300–305, 2008 To the consumer, beer should be an agreeable beverage of attractive colour, clarity, pleasing flavour and should carry no toxic substances. One of the major constituents of barley is phenolic acids and their direct effect on the quality of beer is still a mystery. The aim of the study therefore was to investigate the relationship between phenolic acids during mashing at different temperatures and the quality of the beer. The mash regime and liquor to malt ratios were optimised and the carbohydrates obtained were analysed at 3.5 L of water per kg of malt and a total mash time of 105 min. Carbohydrate and phenolic acid analyses were performed by HPLC coupled with a UV-vis detector. The three different malts used had a phenolic acid content of 33.25 μg/mL, 25.44 μg/mL and 19.98 μg/mL for malt A, B and C, respectively. The plot of 1/T versus Ln(t) gave a negative slope with activation energy (Ea) = 209 KJ/mol, rate constant (k) = 4.6 × 10��4 mg/L min, which are comparable to similar data reported in the literature. The kinetics studies showed that the optimised mashing temperature of 90°C was adequate to form 4-vinylguaiacol by thermal decarboxylation from the hydroxycinnamic acids. This study has shown that there is no direct correlation between phenolic acids and oxidative flavour stability of beer while the corresponding volatile phenols may affect beer flavour. Key words: Beer quality, HPLC, hydroxycinnamic acids, kinetics, volatile phenols, wort. Load full article, 6 pages, 12913 Kb, PDF file

Barley Prices

French Malting Barley Prices. Nominal prices
EURO = USD 1.3574 March 27, 2009 
 Crop year   2008   2009 
 Parity   FOB Creil   FOB Creil 
 Position   July 2008   July 2009 
Type   Variety  EURO  USD  EURO  USD 
2RS  Scarlett  112.00  152.50  139.00  189.00 
2RS  Prestige  111.00  151.00  138.00  187.50 
2RS  Cellar  110.00  149.50  137.00  186.00 
2RS  Sebastien  109.00  148.00  136.00  185.00 
2RS  Tipple  109.00  148.00  136.00  185.00 
2RS  Henley  109.00  148.00  136.00  185.00 
6RW  Esterel   105.00  142.50  120.00  163.00 

French Feed Barley Prices. Nominal prices
EURO = USD 1.3574 March 27, 2009
Crop year 2008
Parity FOB Creil
Position July 2008
Type EURO USD
Feed Barley 95.00 128.95


Theoretical Malt Prices

EURO = USD 1.3574 March 27, 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  329.50  447.00  360.50  489.50  353.00  479.00  367.00  498.00 
2RS  Prestige  328.00  445.50  359.50  487.50  351.50  477.00  366.00  496.50 
2RS  Cellar  327.00  443.50  358.00  486.00  350.50  475.50  364.50  495.00 
2RS  Sebastien  325.50  442.00  357.00  484.50  349.00  474.00  363.50  493.00 
2RS  Tipple  325.50  442.00  357.00  484.50  349.00  474.00  363.50  493.00 
2RS  Henley  325.50  442.00  357.00  484.50  349.00  474.00  363.50  493.00 
2RS   Average price  327.00  443.50  358.00  486.00  350.50  475.50  364.50  495.00 
6RW  Esterel   319.50  435.50  352.00  477.50  344.50  467.00  358.50  486.50 
Asia Malt 70/30  325.00  441.00  356.00  483.50  348.50  473.00  362.50  492.50 
**  Asia Malt 50/50  323.50  439.50  355.00  481.50  347.50  471.50  361.50  490.50 


EURO = USD 1.3574 March 27, 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  354.00  480.50  385.50  523.00  377.50  512.50  391.50  531.50 
2RS  Prestige  353.00  479.00  384.00  521.00  376.50  510.50  390.50  530.00 
2RS  Cellar  351.50  477.00  382.50  519.50  375.00  509.00  389.50  528.50 
2RS  Sebastien  350.50  475.50  381.50  518.00  374.00  507.50  388.00  526.50 
2RS  Tipple  350.50  475.50  381.50  518.00  374.00  507.50  388.00  526.50 
2RS  Henley  350.50  475.50  381.50  518.00  374.00  507.50  388.00  526.50 
2RS   Average price  351.50  477.00  382.50  519.50  375.00  509.00  389.50  528.50 
6RW  Esterel   329.50  448.50  362.00  491.00  354.00  480.50  368.50  500.00 
Asia Malt 70/30  345.50  468.50  376.50  511.00  369.00  500.50  383.00  520.00 
**  Asia Malt 50/50  341.00  463.00  372.50  505.50  364.50  495.00  379.00  514.50 

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

Australian Barley Supply and Disposal 2003 - 2009f

in thousand tonnes 2003-2004 2004-2005 2005-2006 2006-2007 2007-2008s 2008-2009f
Production 10 382 7 740 9 482 4 257 5 920 6 820
   Domestic use 2 476 2 670 2 760 3 153 2 460 2 531
   as malt and other human use 168 172 176 166 165 169
   feed 2 100 2 300 2 400 2 784 2 100 2 163
   seed 208 198 184 203 195 200
 Exports  6 999 4 862 5 917 2 562 4 053 4 313
   as malting barley 2 135 1 464 2 067 659 1 083 1 072
   malt (grain equivalent) 624 601 660 627 668 662
   feed barley 4 241 2 798 3 191 1 192 2 303 2 579
s - ABARE estimated, f-ABARE forecast. Source - ABARE March, 2009
Graph of the Week


Source: Union of Russian Brewers

These Days in Business History
March 26
1780 The British Gazette and Sunday Monitor was published for the first time. It was the first Sunday newspaper in Britain.
1885 Eastman Kodak (Eastman Dry Plate and Film Co.) produced the first commercial motion picture film in Rochster, NY.
1996 The International Monetary Fund approved a $10.2 billion loan for Russia to help the country transform its economy.

March 27
1855 Abraham Gesner patents kerosene
1933 Polythene discovered by Reginald Gibson and Eric William Fawcett
1999 The macro virus "Melissa" was reported for the first.

March 28
1797 Nathaniel Briggs of NH patents a washing machine
1841 1st U.S. steam fire engine tested, New York City
1866 1st ambulance goes into service

March 29
1886 Chemist John Pemberton begins to advertise for Coca-Coke
1888 James E. Casey is born, founder of United Parcel Service
1918 Sam Moore Walton, future founder of Wal-Mart, is born in Kingfisher, Okla
Agenda