E-Malt.com newsletter
January 27 - January 29, 2003
Summary
1. Industry
news
2. Theoretical malt prices
3. Malting barley
prices
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The largest Czech brewer, Plzensky Prazdroj, said on January 27 that strong exports spurred the maker of the world-renowned lager Pilsner Urquell to record output in 2002.
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- Shares of Austrian brewer and beverage maker BBAG fell over four percent on Monday, January 27, as speculation cooled about its plans for a major partnership and weak international markets prompted profit taking. Click here
- Australia's ABB Grain Ltd, one of the world's largest barley exporters, would have only a small quantity of barley available for export from the 2002/03 crop because of drought, the company said in its annual report.
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- Quilmes Industrial, the Argentinean brewing giant, has declared it is going to merge its soft drinks and brewing operations, due to the economic crisis in Argentina.
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Ochakovo, the Russian brewing and soft drinks group, is aiming to acquire 85% stake in the Belarus brewer, Brest, Ochakovo reported in a statement.
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More news are available on site www.e-malt.com
- The Japanese third-largest brewing force, Sapporo Breweries Ltd., has cut its 2002 group net profit forecast by 23.8% to Y1.6 billion ($13.55m). Sapporo ascribed the downgraded forecast to slumping sales of beer and low-malt “happoshu”...more info
- Coopers Brewery, the South Australian brewer, has announced a A$20.2 million profit for the year to the end of June 2002, up form A$4.59 million for the previous year...more info
- Dresdner Kleinwort Wasserstein, the investment bank, has lowered its share price target for SABMiller from 530p to 440p...more info
- The Chinese largest brewing force, Tsingtao's shares have risen by about 31% over the past three months since the deal with Anheuser-Busch was first announced...more info
- After Austrian brewing group, BBAG, announced that it was looking to expand in Central Europe, the investment bank, Credit Suisse First Boston, has upgraded its rating BBAG from "underweight" to "neutral".
- Beijing Enterprises Holdings Ltd. said on January 28 its indirectly controlled brewery unit has formed a US$26M joint venture focusing on health drinks, to expand into China's beverage market...more info
- AC Metcalfe has taken over as the two-row malting barley of choice for prairie farmers and foreign customers, according to figures released last week by the Canadian Wheat Board....more info
1. Industry news
The largest Czech brewer, Plzensky Prazdroj, said on January 27 that strong exports spurred the maker of the world-renowned lager Pilsner Urquell to record output in 2002. Prazdroj, a unit of the world's second-largest brewing group, SAB Miller, said in a statement that it produced 9.0 million hectolitres of beer last year, an annual increase of 13 percent.
It was the third consecutive rise in output and was facilitated mainly by a 36-percent jump in exports to 1.26 million hl. The brewer's main export is Pilsner Urquell, though it said there was rising demand for other brands, mainly in neighboring Slovakia. Financial results will be available after the end of March, when the firm's fiscal year ends.
Shares of Austrian brewer and beverage maker BBAG fell over four percent on Monday, January 27, as speculation cooled about its plans for a major partnership and weak international markets prompted profit taking, according to Reuters. The Austrian blue-chip ATX index fell 1.42 percent to 1,170.89 amid a global drubbing for equity markets that took 14 of the 20 ATX shares lower, with four higher and two unchanged.
BBAG slipped 4.35 percent to close at 77.00 euros after climbing more than 16 percent since Thursday on news it would seek a major new partner and might simplify its share structure. The brewer last week set a 12-month intra-day high at 84.00 euros. "There was profit-taking today in BBAG, but we still think there is further price potential in the share," one Vienna trader said.
The brewer said it might simplify its share structure, which now consists to two categaories of shares and those of subsidiary Brau Union BRAV.VI and vests control of the group in its founding families.
Australia's ABB Grain Ltd, one of the world's largest barley exporters, would have only a small quantity of barley available for export from the 2002/03 crop because of drought, the company said in its annual report. "ABB intends to supply the domestic Australian market, which is offering the highest prices in the world at present," it said. Small quantities of barley for export would service the company's premium world markets, the company added. ABB did not reveal any tonnage figures.
ABB said in its annual report for the year to September 30 2002 that Saudi Arabia was its largest customer in 2001/02, taking 41 percent of the company's total bulk barley exports. In 2001/02, China remained a vital market for malting barley, for beer making, taking 28 percent of ABB's bulk barley exports, the company said. Japan, the third key export market, took 14 percent of ABB's bulk barley exports, including feed for its intensive feedlot industry and malting barley for brewing..... more info
Quilmes Industrial, the Argentinean brewing giant, has declared it is going to merge its soft drinks and brewing operations, due to the economic crisis in Argentina. Nestor del Campo, who was formerly in charge of the company’s brewing operations, will head up the new merged division. Gustavo Castelli will take over as chief financial officer, replacing Carlos Olivieri who has left the company, Quilmes Industrial reported.
Ochakovo, the Russian brewing and soft drinks group, is aiming to acquire 85% stake in the Belarus brewer, Brest, Ochakovo reported in a statement. The Russian brewer plans to double the brewing capacity of Brest from 25 million to 50 million litres by 2006 investing around $25 million in upgrading the company production facilities.
2. Theoretical malt prices.
| EURO = USD 1.0858 January 28, 2003 |
| Crop year |
2002 |
| Parity |
FOB Antwerp |
| Position |
Oct 2002-Sept 2003 |
| Conditioning |
Bulk |
In bags |
Bulk containers |
In bags in containers |
| Malting barley variety |
EURO |
USD |
EURO |
USD |
EURO |
USD |
EURO |
USD |
| 2RS |
Prisma |
300.50 |
326.00 |
315.50 |
342.50 |
312.50 |
339.50 |
321.50 |
349.50 |
| 2RS |
Scarlett |
301.50 |
327.50 |
317.00 |
344.00 |
314.00 |
340.50 |
323.00 |
350.50 |
| 2RS |
Aspen |
299.00 |
324.50 |
314.50 |
341.50 |
311.50 |
338.00 |
320.50 |
348.00 |
| 2RS |
Optic |
299.00 |
324.50 |
314.50 |
341.50 |
311.50 |
338.00 |
320.50 |
348.00 |
| 2RS |
Nevada |
nq |
nq |
nq |
nq |
nq |
nq |
nq |
nq |
| 2RS |
Astoria |
294.00 |
319.50 |
309.50 |
336.00 |
306.50 |
332.50 |
315.50 |
342.50 |
| 2RS |
Cork |
294.00 |
319.50 |
309.50 |
336.00 |
306.50 |
332.50 |
315.50 |
342.50 |
| 2RS |
Average price |
298.50 |
324.00 |
313.50 |
340.50 |
310.50 |
337.50 |
320.00 |
347.50 |
| 2RS |
FAQ |
293.00 |
318.00 |
308.50 |
334.50 |
305.50 |
331.50 |
314.50 |
341.50 |
| 6RW |
Esterel |
270.50 |
293.50 |
285.50 |
310.50 |
282.50 |
307.00 |
292.00 |
317.00 |
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Theoretical malt prices for crop 2003 are available on site www.e-malt.com
3. Malting barley prices. French barley prices. Nominal prices.
| EURO = USD 1.0858 January 28, 2003 |
| Crop year |
2002 |
2003 |
| Parity |
FOB Creil |
FOB Creil |
| Position |
July 2002 |
July 2003 |
| Type |
Variety |
EURO |
USD |
EURO |
USD |
| 2RS |
Scarlett |
147.00 |
160.00 |
146.00 |
158.50 |
| 2RS |
Prisma |
146.00 |
158.50 |
nq |
nq |
| 2RS |
Prestige |
nq |
nq |
145.00 |
157.50 |
| 2RS |
Aspen |
145.00 |
157.50 |
144.00 |
156.50 |
| 2RS |
Optic |
145.00 |
157.50 |
144.00 |
156.50 |
| 2RS |
Nevada |
nq |
nq |
nq |
nq |
| 2RS |
Astoria |
141.00 |
153.50 |
142.00 |
154.50 |
| 2RS |
Cork |
141.00 |
153.50 |
142.00 |
154.50 |
| 6RW |
Esterel |
125.00 |
136.00 |
123.00 |
133.50 |
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