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E-Malt.com Newsletter 40a
September 28 - September 30, 2009
Open!
Click here to get full size Newsletter


Quote of the week

“The amount of good luck coming your way depends on your willingness to act.”
Barbara Sher
E-Malt.com recommends:


Currency Rates
Base Currency: Euro, EUR
on 30-September-2009

1 EUR = 1.4592 USD
1 EUR = 0.9166 GBP
1 EUR = 1.5848 CAD
1 EUR = 1.672 AUD
1 EUR = 131.295 JPY
1 EUR = 2.619 BRL
1 EUR = 43.984 RUB
1 EUR = 9.9772 CNY
Base Currency: US Dollar
on 30-September-2009

1 USD = 0.6854 EUR
1 USD = 0.6282 GBP
1 USD = 1.0861 CAD
1 USD = 1.1459 AUD
1 USD = 89.978 JPY
1 USD = 1.7949 BRL
1 USD = 30.1432 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 30, 2009

Type Crop 2009 Crop 2010
2rs Barley EUR95.0-99.0 EUR117.0-121.0
6rw Barley EUR92.0-96.0 EUR109.0-113.0
2rs Malt EUR282.0-286.0 EUR309.5-313.5
6rw Malt EUR277.5-281.5 EUR298.5-302.5
Feed Barley EUR88.0-92.0 nq 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

Russia: Industries and trade ministry preparing another blow for the nation’s beer sales ...Click here
Belgium: AB InBev announces the completion of the Tennent’s Lager sale ...Click here
China: Carlsberg to strengthen its position on the Chinese beer market ...Click here
World: H1 2009 beer market overview ...Click here
India: United Breweries to start production at a new brewery in order to press SABMiller in Andhra Pradesh ...Click here
Mexico & Chile: Mexican Grupo Modelo expects beer sales in Chile to grow by 20% next year ...Click here
Thailand: ThaiBev aimed at the number one position in the Thai beer market ...Click here
Poland: Demand for beer forecast to decline by 8% this year ...Click here
EU: Less winter malting barley to be used in 2008/09 due to low prices for spring varieties ...Click here
EU: Big crop may force EU farmers to sell their barley to public stores ...Click here
Canada: Statistics Canada reduces barley acreage and production 2009 estimate ...Click here
United States: Barley acreage forecast down 19.8%, production down 15.8% yoy ...Click here


More News


Tanzania: A third brewery to be launched by Serengeti by next April ...More Info
Mexico: FEMSA to increase beer prices by 11% if the government raises taxes ...More Info
China: Tsingtao Brewery Group increases shareholding in its listed brewing unit, plans to buy more shares ...More Info
South Korea: Government opens the gate to beer market diversification ...More Info
Namibia: Namibia Breweries growth coming mostly from Namibia’s northern regions ...More Info
Brazil: AmBev worried by decreasing shelf space supermarkets give to beer ...More Info
World: Budweiser named best global beer brand, value up 3% versus 2008 ...More Info
Finland: Finland travellers’ private imports of alcohol grow in the first eight months of this year ...More Info
United Kingdom: Beer mugs to contain just two thirds of a pint ...More Info
United States: Heineken appoints new CEO for its US operations ...More Info
United Kingdom: Scottish & Newcastle UK to be called Heineken UK as from the end of November ...More Info
Singapore: Swedish SEB appeals against a court ruling in favour of Asia Pacific Breweries ...More Info
Belarus: Largest Ukrainian beer importer on the verge of bankruptcy due to a court decision ...More Info
Go to our news database with more than 15875 articles.
Today with the possibility to be translated in 7 different languages!
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Brewery News

Russia: Industries and trade ministry preparing another blow for the nation’s beer sales

Russia's industries and trade ministry has proposed drastic limits on beer sales. According to an industry expert, the proposal could affect over 25 percent of sales in Russia, Reuters reported on September, 29.

The proposals, which have yet to be reviewed and approved by the government and parliament, came only a month after President Dmitry Medvedev ordered tough measures to curb alcohol abuse, describing alcoholism as a "national disaster".

"It would be fatal (for the brewing industry)," said a source at a major Western brewer in Russia, who asked not to be named due to the sensitivity of the issue.

The ministry said in its documents it was proposing changes to legislation that would ban sales of beer via kiosks and in markets without affecting big shops and supermarkets.

Shares in Danish brewer Carlsberg, which owns Russia's largest brewer, Baltika, fell as much as 4.6 percent to a four-week low of 359.75 crowns but pared losses to close down at 363 crowns. Shares of SABMiller fell 0.4 percent, and Heineken's were down 0.3 percent.

An executive at Russia's brewers union said he estimated sales of beer via kiosks and in markets at 50 percent of total sales if restaurants are excluded, and 25 ...More Info


Belgium: AB InBev announces the completion of the Tennent’s Lager sale

Belgium-based brewing giant AB InBev announced on September, 29 that it has completed the previously announced sale of Tennent’s Lager brand and associated trading assets in Scotland, Northern Ireland and the Republic of Ireland (part of InBev UK Limited) to C&C Group plc (“C&C”) for a total enterprise value of Ł180 million ($285.8 mln).

As part of the agreement, Anheuser-Busch InBev has appointed C&C as distributor of certain AB InBev brands in Scotland, Northern Ireland and the Republic of Ireland, and C&C has granted Anheuser-Busch InBev the right to use the Tennent’s Super and Tennent’s Pilsner brands in certain worldwide geographies.

The sale of these assets unlocks value for Anheuser-Busch InBev shareholders and is part of the company’s ongoing program to de-leverage the company as quickly as possible.

Lazard and Freshfields Bruckhaus Deringer LLP acted as financial and legal advisors, respectively, to Anheuser-Busch InBev.


China: Carlsberg to strengthen its position on the Chinese beer market

Danish brewer Carlsberg will take over Scottish & Newcastle's 17.46% stake in Chongqing Brewery Co., Ltd. to become the Chinese company's second largest shareholder, SinoCast Daily Business Beat reported on September, 29.

Moreover, Carlsberg is considering relocating its headquarters in China to Chongqing. The company's plan to relocate the headquarters reflects the growing importance of the vast beer market in western China, according to an executive from the company.

By now Carlsberg has dominated the local beer market in Xinjiang, Tibet and Yunnan through purchases and equity participation.

Carlsberg currently runs over 20 breweries in China either as full owner or as a partner in a joint venture. With staff of over 6,000, most of these plants are in western China.

Chongqing Brewery, based in south-western China's Chongqing municipality, is the fourth largest brewer in China and one of four listed breweries. It has annual production capacity of over 2.8 mln tons.


World: H1 2009 beer market overview

Despite hopeful signs of an economic recovery in Western Europe and the United States, most countries reported extremely poor beer sales for the first half of 2009, a research note published earlier this month states.

The good exceptions are China (+ 6 %), Brazil, Africa. Japan had a remarkable figure of plus 0.2% for the first semester, but apparently a bad breakdown in July.

Other country figures are: Czech Jan/June minus 6%; France Jan/July minus 1%; Germany Jan/July minus 4.6%; Hungary Jan/April minus 10%; Romania Jan/June minus 10%; U.K. Jan/March minus 7.8%, April/June minus 4.8%; Ukraine Feb/June minus 18.3%.

Brewers: Efes minus 1.9%, Heineken minus 6.6%, SABMiller Europe minus 7%, all America minus 1%, Asia/Africa plus 11%.

Canadean’s estimate of 4% less beer sales in Western Europe seems too positive. An added negative feature for Europe is the transfer of production of several European premium beers (Beck’s, Stella Artois) to North America, analysts report.


India: United Breweries to start production at a new brewery in order to press SABMiller in Andhra Pradesh

Andhra Pradesh is one the few states in which India’s largest brewer United Breweries (UB) yields to SABMiller’s India unit, The Wall Street Journal communicated on September, 27.

UB wants to dislodge SABMiller Plc from its dominant perch in the key Andhra Pradesh market with a new Rs150 crore brewery in Medak that will start production by January.

Andhra Pradesh is one the few states in which UB, which sells Kingfisher beer, plays second fiddle to SABMiller’s India unit, which brews Haywards, Knock Out and Indus Pride. UB says it has about 33% market share in Andhra Pradesh, behind SABMiller’s more than 60%.

“With this we hope to take our market share closer to the national average,” said Shekhar Ramamurthy, deputy president, UB. The company says it has at least a 50% share of the Indian beer market as of the first quarter of this fiscal.

Vijay Mallya’s UB wants to build its share of the market in the southern state as it consumes about 18% of the annual 172 million cases of beer sold in India. Each case contains 12 bottles.

The new brewery, located in Medak district, will add to two existing facilities in Andhra Pradesh, and will be able to produce ...More Info


Mexico & Chile: Mexican Grupo Modelo expects beer sales in Chile to grow by 20% next year

Mexico’s leading brewer Grupo Modelo projects a 20 percent rise in beer sales next year in Chile, El Mercurio reported on September, 29.

According to commercial director for Latin America and the Caribbean, Roberto Viejo, despite a troubled global economy, sales are doing well and the company recorded double-digit growth in Chile.

Chile is the most important market in South America for Grupo Modelo. Last year, the company shipped over one million crates of beer to Chile. As consumers continue to seek premium beers, the outlook appears positive for the future. The company plans to increase distribution quantity and coverage, and consolidate its leadership in the region, Viejo said.

Grupo Modelo’s two brands exported to Chile are Corona and Negra Modelo. Corona is the most popular imported beer in the country. Although Grupo Modelo has 13 brands, it has no immediate plans to bring other brands to Chile.


Thailand: ThaiBev aimed at the number one position in the Thai beer market

Thai Beverage PCL, the country's largest brewer and distiller, aims for 2009 revenue and net profit to be no lower than last year and expects sales to rise in 2010, Reuters cited the company’s top official on September, 30.

ThaiBev, which is number two in terms of market share, wants to boost sales to become market leader over the next two years, director and senior Vice President Ueychai Tantha-Obhas said.

"In the next two years, we aim to be number one in the Thai beer market, which means we should have market share of more than 42 percent," Ueychai said.

In 2008, the company made a net profit of 10.6 billion baht ($316 million) on revenue of 105 billion baht.

Five analysts polled by earnings tracker Thomson Reuters I/B/E/S expected 2009 revenue and net profit to rise almost 2 percent. Revenue was expected to rise 5.6 percent to 113 billion baht in 2010.

Thai Beverage, owned by liquor tycoon Charoen Sirivadhanabhakdi, makes the country's leading beer, Chang, and top-selling Mekong whisky.

This week, the company launched a marketing campaign to rebrand its Chang beer products to attract more customers, Ueychai said.

It has about 35 percent of the Thai beer market, down from about 70 percent in ...More Info


Poland: Demand for beer forecast to decline by 8% this year

Demand for beer is expected to decline by 8% year on year to 33 million hl in 2009 in Poland, Polish Market reported on September, 28.

Between January and June 2009 beer producers reported a 12.5% year-on-year reduction in sales to 15.9 million hl. June 2009 brought the weakest results – there was an 18.3% reduction, the most substantial since 1989, in beer consumption in comparison with the analogous month of 2008.

The Association of Beer Industry Employers, “Browary Polskie” (ZPPP), explains that the decline in beer consumption was prompted by the 13.6% increase in excise duty in March 2009, the economic recession, increases in beer prices caused by the higher costs of ingredients and packaging, and the cold weather reported at the beginning of the summer of 2009. Furthermore, the Polish beer market has reached saturation point – Poles consume 95 litres of beer per capita every year.

Kompania Piwowarska, the largest brewery in Poland, reported a 4% decline in sales in the first half of 2009. Nevertheless, the company has succeeded in increasing its market share from 41.2% to 44.9%.

Grupa Zywiec, the runner-up on the Polish beer market, sold 6 million hl of beer in the first six months of ...More Info


Barley News

EU: Less winter malting barley to be used in 2008/09 due to low prices for spring varieties

About 1.5 mln tons of good winter malting barley are available in France, Germany and the U.K., not counting the variety Cervoise, which will hardly find its way into the industry this year, industry observers reported in a research note published at the beginning of September.

As prices for spring and winter malting barley are more or less at the same level, less winter barley will be used in 2008/09, it is expected.

However, pre-harvest malt and barley contracts do include winter barley, and so will new sales to the Mediterranean countries and other export destinations, experts point out.

Known deficit regions will be the EU Mediterranean area with an import demand of 3-400,000 tons. Especially Spain must purchase 1-200,000 tons from North of the Pyrenees this year.

Poland may need more than last year’s imports of 200,000 tons; the Balkan countries may buy some small quantities.

On the other hand Sweden, Finland and the Baltic States could turn up as small exporters as well, industry sources said.


EU: Big crop may force EU farmers to sell their barley to public stores

European grain farmers will resort to selling large amounts of barley and possibly some wheat to public stores this season to benefit from a guaranteed minimum price amid a slump in grain markets, Reuters cited analysts’ opinions on September, 25.

Big harvests this summer in much of Europe have swollen already ample stocks and pushed prices to near or below the level at which the European Union buys grain offered by producers under its intervention system.

The scheme, which operates from November in most member states, allows producers to sell certain grains to EU stores for 101.31 euros a tonne, including delivery costs, to which are added carrying charges of 0.46 euros a tonne per month.

The situation is most acute in barley, which could even attract intervention offers in top EU grains producer France, where producers rarely use the safety net.

Farm office FranceAgriMer forecasts barley ending stocks will more than double in 2009/10 to 3.4 million tonnes, bloated by a second straight record crop, while feed barley prices in some French regions have slid below 100 euros since the harvest.

"Large-scale intervention is not common practice in France," said Vincent Magdelaine, head of grains at the country's association of farm cooperatives. "But for ...More Info


Canada: Statistics Canada reduces barley acreage and production 2009 estimate

Statistics Canada’s official barley crop forecast reflects a smaller acreage, late planting, and poor conditions during spring and early summer, industry observers communicated at the beginning of September.

Canadian acreage has shrunk from 3.544 mln ha in 2008 to 3.038 mln ha this year, 14% will be abandoned, expected yields will be 2.9 ha vs. 3.3 tons last year, it is reported.

The country’s total barley production is expected to reach 8.948 mln tons in 2009 versus 11.781 mln tons last year.


United States: Barley acreage forecast down 19.8%, production down 15.8% yoy

The US barley acreage is down from 1.524 mln to 1.272 mln ha this year, industry sources summed up this month.

Yields are forecast slightly better at 3.54 vs. 3.42 tons per ha.

USDA production forecasts were reduced for North Dakota and Montana and slightly raised for Idaho:

North Dakota – 1.4 mln tons this year versus 1.877 mln last year; Montana – 0.762 mln tons versus 0.822 mln tons in 2008; Idaho – 1.142 mln tons in 2009 (1.086 mln tons last year).

Total USA barley production forecast is set at 4.501 mln tons (5.214 mln in 2008).

Scientific Digest

Effects of Vessel Geometry, Fermenting Volume and Yeast Repitching on Fermenting Beer

R. A. Speers and Scott Stokes

Abstract:
J. Inst. Brew. 115(2), 148–150, 2009 This paper statistically examines the effect of tank shape and size, fermenting volume and yeast pitching number on fermentation parameters routinely monitored in a series of industrial fermentations. With the fermenter tanks employed in this pilot study, little effect of tank shape existed between any of the parameters. The number of brews fermented or fermenting volume had a significant difference (p<0.05) on the apparent extract at 48 h, the final pH and the apparent degree of fermentation (ADF). Interestingly, the number of yeast repitchings (up to 13) did not show any effect on any of the parameters. We conclude, as have other studies, that the automatic practise of discarding the yeast crop after 10 fermentations (and the related expense of early yeast repropagation) could be questioned and is worthy of further study. Key words: beer flavour, fermentation kinetics, tank geometry. Load full article, 3 pages, 145 kb , PDF file

Barley Prices
EURO = USD 1.4592 September 30, 2009  
 Crop year   2009   2010 
 Parity   FOB Creil   FOB Creil 
 Position   July 2009   July 2010 
Type   Variety  EURO  USD  EURO  USD 
2RS  Scarlett  99.00  144.50  121.00  176.50 
2RS  Prestige  98.00  143.50  120.00  175.50 
2RS  Cellar  97.00  141.50  119.00  174.00 
2RS  Sebastien  96.00  140.50  118.00  172.50 
2RS  Tipple  96.00  140.50  118.00  172.50 
2RS  Henley  96.00  140.50  118.00  172.50 
6RW  Esterel   94.00  137.50  111.00  162.00 

French Feed Barley Prices. Nominal prices
EURO = USD 1.4592 September 30,2009
Crop year 2009
Parity FOB Creil
Position July 2009
Type EURO USD
Feed Barley 90.00 131.33


Theoretical Malt Prices

  EURO = USD 1.4592 September 30, 2009 
Crop year  2009 
Parity  FOB Antwerp 
Position  Oct 2009 - Sept 2010 
Conditioning  Bulk   In bags  Bulk containers Bags, containers
Malting barley variety  EURO  USD  EURO  USD  EURO  USD  EURO  USD 
2RS  Scarlett  286.50  418.00  317.50  463.50  310.00  452.50  324.00  473.00 
2RS  Prestige  285.50  416.00  316.50  461.50  308.50  450.50  323.00  471.00 
2RS  Cellar  284.00  414.50  315.00  460.00  307.50  448.50  321.50  469.50 
2RS  Sebastien  282.50  412.50  314.00  458.00  306.50  447.00  320.50  467.50 
2RS  Tipple  282.50  412.50  314.00  458.00  306.50  447.00  320.50  467.50 
2RS  Henley  282.50  412.50  314.00  458.00  306.50  447.00  320.50  467.50 
2RS   Average price  284.00  414.50  315.00  460.00  307.50  448.50  321.50  469.50 
6RW  Esterel   279.50  409.00  311.50  454.50  304.00  443.50  318.00  464.00 
Asia Malt 70/30  283.00  412.50  314.00  458.50  306.50  447.00  320.50  467.50 
**  Asia Malt 50/50  282.00  411.50  313.50  457.00  305.50  446.00  320.00  466.50 


EURO = USD 1.4592 September 30, 2009 
Crop year  2010 
Parity  FOB Antwerp 
Position  Oct 2010 - Sept 2011 
Conditioning  Bulk   In bags  Bulk containers Bags, containers
Malting barley variety  EURO  USD  EURO  USD  EURO  USD  EURO  USD 
2RS  Scarlett  314.00  458.00  345.00  503.50  337.50  492.50  351.50  513.00 
2RS  Prestige  312.50  456.00  344.00  501.50  336.00  490.50  350.50  511.50 
2RS  Cellar  311.50  454.50  342.50  500.00  335.00  488.50  349.00  509.50 
2RS  Sebastien  310.50  452.50  341.50  498.00  333.50  487.00  348.00  507.50 
2RS  Tipple  310.50  452.50  341.50  498.00  333.50  487.00  348.00  507.50 
2RS  Henley  310.50  452.50  341.50  498.00  333.50  487.00  348.00  507.50 
2RS   Average price  311.50  454.50  342.50  500.00  335.00  488.50  349.00  509.50 
6RW  Esterel   300.50  440.00  333.00  485.50  325.00  474.50  339.50  495.00 
Asia Malt 70/30  308.50  450.00  339.50  495.50  332.00  484.50  346.50  505.00 
**  Asia Malt 50/50  306.50  447.00  337.50  492.50  330.00  481.50  344.50  502.50 

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
Source: Agriculture and Agri-Food Canada, August 28, 2009

Table of the Week

Sales of Members of the Union of Brewers in Bulgaria, 2008

Company Sales volume in hl
Boliarka Brewery 490,183
Carlsberg Bulgaria 1,497,380
Heineken Zagorka Brewery 1,753,963
Kamenitza (AB InBev) 1,519,451
Lomsko Pivo 112,117
Trimex Service 204
Total 5,373,298
Source: Union of Brewers in Bulgaria
Graph of the Week



These Days in Business History
28 September
1879 Sydney Australia inaugurates steam motor tram route
1923 Radio Times 1st published
1953 Dutch government proclaims 5% general pay increase on Jan 1, 1954

29 September
1915 1st transcontinental radio telephone message is sent
1950 Telephone Answering Machine created by Bell Laboratories
1979 Gold hits record $400.20 an ounce in Hong Kong

30 September
1452 1st book published, Johann Guttenberg's Bible
1988 IBM announces shipment of 3 millionth PS/2 personal computer
1997 Microsoft Corp releases Internet Explorer 4.0

Agenda