If you want to see this letter from our site, please follow this link. http://www.e-malt.com/Publications.asp?6274
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 45b
November 05 - November 08, 2009
Open!
Click here to get full size Newsletter


Quote of the week

"Prohibition makes you want to cry into your beer and denies you the beer to cry into."
Don Marquis
Currency Rates
Base Currency: Euro, EUR
on 06-November-2009

1 EUR = 1.4856 USD
1 EUR = 0.8978 GBP
1 EUR = 1.5817 CAD
1 EUR = 1.6355 AUD
1 EUR = 134.454 JPY
1 EUR = 2.5636 BRL
1 EUR = 43.2165 RUB
1 EUR = 10.1579 CNY
Base Currency: US Dollar
on 06-November-2009

1 USD = 0.6732 EUR
1 USD = 0.6043 GBP
1 USD = 1.0647 CAD
1 USD = 1.1009 AUD
1 USD = 90.5003 JPY
1 USD = 1.7256 BRL
1 USD = 29.0903 RUB
1 USD = 6.8376 CNY
Currency Rates Chart

Equities of the Largest Breweries

Equities of the Largest Breweries

Average Market Prices Change trend

November 06, 2009

Type Crop 2009 Crop 2010
2rs Barley EUR97.0-101.0 EUR118.0-122.0 1.69%
6rw Barley EUR94.0-98.0 EUR110.0-114.0 0.90%
2rs Malt EUR282.5-286.5 EUR307.5-311.5 0.65%
6rw Malt EUR278.0-282.0 EUR297.0-301.0 0.50%
Feed Barley EUR93.0-97.0 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

Japan: Kirin reports nine months results, cuts forecast for full year 2009 ...Click here
Australia: Lion Nathan delivers a 13% increase in operating net profit after tax for FY09 ...Click here
The Philippines: San Miguel Brewery Inc. ups both revenues and operating income by 5% in January – September 2009 ...Click here
United States: Boston Beer Company increases Q3 net revenue by 8% ...Click here
Denmark: Royal Unibrew’s earnings significantly improve in the nine months to September 30 ...Click here
Australia: GrainCorp successfully sells new shares to raise money for the takeover of United Malt Holdings ...Click here
United Kingdom: HGCA issues first official estimate of 2009-10 UK barley supply and demand ...Click here


More News


United States: Beer on-premise consumption forecast to decline 1.8% in 2009 ...More Info
The Czech Republic: Beer better to be called ‘barley wine’ ...More Info
EU: Malting barley markets not very active ...More Info
Russia: New malting plant may be constructed in the south of Russia ...More Info
United Kingdom: Action needed to improve confidence in malting barley – Maltsters’ Association chairman ...More Info
Mexico: FEMSA downgraded to neutral by HSBC ...More Info
Belarus: Malt exports drop in January – October this year ...More Info
Ukraine: Beer imports decline in Jan – Sept this year ...More Info
The Czech Republic: Gambrinus recognized as true Czech Beer ...More Info
Go to our news database with more than 16081 articles.
Today with the possibility to be translated in 7 different languages!
DE FR SP IT PT RU CN

Brewery News

Japan: Kirin reports nine months results, cuts forecast for full year 2009

Kirin Holdings Co., Japan’s leading brewer, cut on November, 6 its full-year net income forecast by 25 percent on costs to close two domestic breweries in the shrinking beer market.

The company’s consolidated sales decreased to 1.67 bln yen in the first nine months of this year as compared to sales of 1.70 bln yen in the same period a year ago. Operating income shrunk to 93.97 mln yen (103.86 mln in January – September 2008), whereas net income plummeted to 41.71 mln yen from 95.64 mln a year ago.

Kirin said it expects its full year sales to amount to 2.3 bln yen, operating income – to 130 mln, and net income – to 45 mln yen. All figures were reduced from the previous forecast.

Kirin’s combined sales volumes of beer, happoshu (low-malt beer) and new genre (no malt beer) from January to September increased by a margin that exceeded the market average. In the fast-growing new genre market, continued robust sales of the dominant brand Kirin Nodogoshi Nama enabled the company to achieve a year-on-year increase in excess of 20%, which was above the market average for that category. The company said its core brands performed well. Strong sales of Kirin ...More Info


Australia: Lion Nathan delivers a 13% increase in operating net profit after tax for FY09

Brewer Lion Nathan announced on November, 5 that it had achieved its promised step-up in growth for FY09 ended September this year.

The company delivered operating net profit after tax (NPAT) of A$313.1 mln, an increase of 13% on the prior year. Group net sales revenue grew 7.1% to A2.242 bln.

As expected, the second half of the financial year saw an accelerated growth rate of 22% against the previous corresponding period. In contrast to FY08, Easter fell in the second half of the financial year and the business cycled its first half year of increased investment in the Boag’s business.

Underpinning the result was an excellent performance from Lion Nathan Australia, which grew operating EBITD by an impressive 16% to A$515.7 mln.

Net sales revenue rose 11% and total volumes increased by 4.7% against growth in the market of 4.2% (according to AC Nielsen data). Excluding the impact of Boag’s, volume growth was in line with the market, while a continued focus on higher value ‘power’ brands delivered slightly improved value share.

Lion Nathan Australia’s ‘power’ brands continue to perform very well, with each of Tooheys Extra Dry, XXXX Gold and Hahn Super Dry performing ahead of their market segments. The company’s portfolio now ...More Info


The Philippines: San Miguel Brewery Inc. ups both revenues and operating income by 5% in January – September 2009

Philippine conglomerate San Miguel Corp, which sells nine out of 10 beers in the country, reported on November, 5 strong first nine months results driven by the sustained growth of its beer and liquor units, along with higher productivity and continuing cost discipline across all businesses.

Net income as of September, reached P57 billion while consolidated revenues grew 4% to P126.5 billion. Operating income ended the period at 12% higher to P13.1 billion. Before one-off items, net income rose 6% year-on-year to P7.61 billion.

Volume improvements combined with cost management and stable raw material prices boosted San Miguel Brewery Inc.’s performance (SMB Inc.) after a difficult first three months for the Company’s beer unit. SMB Inc. revenues and operating income were both up 5% in January-September to P37 billion and P11.3 billion, respectively.

With the San Miguel Octoberfest kickoff in September, the company expects to further improve volumes and consumption for the rest of 2009.


United States: Boston Beer Company increases Q3 net revenue by 8%

The Boston Beer Company, Inc. reported on November, 5 a third quarter core product depletions - the total number of cases sold by a distributor to retailers - increase of 6% as compared to the third quarter of 2008.

Net revenue for the third quarter of 2009 was $108.7 million, an increase of $7.6 million, or 8%, over the same period last year. Net income for the third quarter was $10.4 million, or $0.72 per diluted share, an increase of $10.7 million, or $0.74 per diluted share, from the third quarter of 2008, primarily as a result of increased core shipments and improved gross margins. The third quarter 2008 results included the estimated after-tax negative impact on net income of $1.2 million, or $0.08 per diluted share, resulting from accruals for full year shortfall fees at other brewers as a result of volumes transferred to the Pennsylvania Brewery, and $1.2 million, or $0.08 per diluted share, resulting from additional costs of a product recall initiated in April 2008. Excluding these provisions, the company's third quarter net income increased $8.3 million, or $0.58 per diluted share.

Jim Koch, Chairman and Founder of the Company, commented, "Our 6% depletions growth in the third quarter ...More Info


Denmark: Royal Unibrew’s earnings significantly improve in the nine months to September 30

Danish brewer Royal Unibrew reported on November, 6 that it had seen significantly improved earnings in the nine months to 30 September 2009.

Operating profit (EBIT before special items) amounted to DKK235 million compared to DKK 145 million for the same period of last year. Profit before tax amounted to DKK126 million compared to DKK22 million last year. Moreover, cash flow developed positively, and net interest‐bearing debt was reduced by DKK297 million from the beginning of the year.

The significant performance improvement is due to the implementation of a number of activities to strengthen Royal Unibrew’s earnings and cash flow initiated at the beginning of the year as well as to increasing net selling prices and a changed sales mix, the company said.

The results were realised in spite of difficult market conditions and decreasing revenue, it added.

The full‐year profit expectations for 2009 are upgraded as EBIT before special items is now expected to amount to DKK210 – 235 million compared to the expectation of DKK170 – 210 million previously announced in the Company’s H1 Report.

”Our performance for the nine months to 30 September 2009 was not only better than last year, but also better than expected. We have been ...More Info


Malt News

Australia: GrainCorp successfully sells new shares to raise money for the takeover of United Malt Holdings

Grains handler and marketer GrainCorp Ltd has successfully sold new shares, which weren't taken up by retail shareholders in an entitlement offer, at a premium of 15 per cent over the original offer price, Sky News communicated on November, 6.

The clearing price for the retail bookbuild was A$6.50 per new shares, 85 cents more than the entitlement offer price of A$5.65, Sydney-based GrainCorp said in a statement on November, 6.

The retail bookbuild price is still a 4.1 per cent discount to the last closing price of A$6.78 on November, 4.

The premium of 85 cents will be paid to the retail shareholders who did not, or were ineligible, to take up shares under the entitlement offer, for each share not taken up.

GrainCorp announced the accelerated nine-for-ten renounceable entitlement offer on October 6 to raise about A$600 million for the takeover of United Malt Holdings, the world's fourth largest malt manufacturer.


Barley News

United Kingdom: HGCA issues first official estimate of 2009-10 UK barley supply and demand

UK barley availability is estimated at 8.006 mln tonnes in 2009/10, up 0.960 mln tonnes (14%) on last season, HGCA communicated on November, 4.

Opening stocks are estimated at 1.204 mln tonnes, considerably up by 0.444 mln tonnes (58%) on 2008/09. Production this season is provisionally estimated at 6.747 mln tonnes, up 0.603 mln tonnes (10%), while imports are estimated down by 87,000 tonnes on last season, at 55,000 tonnes.

Human and Industrial (H&I) Processors’ Usage of barley is estimated at 1.682 mln tonnes, down 87,000 tonnes (5%) on last season. Barley usage in animal feed rations is estimated at 3.202 mln tonnes, up 4% (0.132 mln tonnes) on last season. Estimated seed usage of barley is estimated 8% higher at 0.173 mln tonnes respectively.

The barley exportable surplus in addition to intervention stocks is estimated at 2.012 mln tonnes, significantly up by 1.2 mln tonnes (148%) on 2008/09.

Deliveries of barley into UK intervention are expected this season. Closing stocks of barley are set at 0.903 mln tonnes, the five-season average, a decrease of 0.301 mln tonnes on last season.

Maltsters’ and distillers’ barley usage in July/August, at 0.231 mln tonnes, was 49,000 tonnes (18%) lower than last season’s equivalent. Barley usage by ...More Info

Scientific Digest

Ethyl ester production during brewery fermentation: a review

Sofie M.G. Saerens, Kevin J. Verstrepen, Johan M. Thevelein and Freddy R. Delvaux

Abstract:
The production of volatile esters by yeast is of major industrial interest because the presence of these compounds determines the fruity aroma of fermented beverages, like beer and wine (6-8, 11, 13, 14, 23, 24, 31- 33, 37-41, 50). The need to understand and control ester synthesis is driven by the fact that esters play a key role in the sensorial quality of these fermented alcoholic beverages. Especially in the brewery, problems with ester production have been encountered by the introduction of modern brewing practices, such as high-gravity brewing, the use of tall cylindroconical fermentors and the production of reduced-alcohol beers. Indeed, it is wellknown that the use of worts of high specific gravity results in disproportionate amounts of esters (2, 30). In contrast to high-gravity brewing, fermentations in tall ‘Apollo’ fermentors or the production of low alcohol beers result in a reduction of ester formation, so that the produced beers lack desirable fruity tones (30). As esters are synthesized via several yeasts’ complex metabolic pathways, there is a need to gain a clear understanding of ester metabolism. One needs to take a closer look at the individual genes involved, their functions and regulatory mechanisms. In alcoholic beverages, there are two important groups of esters: the acetate esters and the medium-chain fatty acid (MCFA) ethyl esters. For acetate ester synthesis, the genes involved have already been cloned and characterized (16, 26, 28, 34, 52, 53, 55-57). Also the biochemical pathways and the regulation of acetate ester synthesis are welldefined (10, 28). About the molecular basis of MCFA ethyl ester synthesis however, research was only recently successful (10, 45, 46). This paper reviews the current knowledge of the synthesis of MCFA ethyl esters and discusses the different factors that allow MCFA ester formation to be controlled during fermentation.
Cerevisia, 33(2) 2008
www.cerevisia.eu

Barley Prices
EURO = USD 1.4856 November 06, 2009  
 Crop year   2009   2010 
 Parity   FOB Creil   FOB Creil 
 Position   July 2009   July 2010 
Type   Variety  EURO  USD  EURO  USD 
2RS  Scarlett  101.00  150.50  122.00  181.50 
2RS  Prestige  100.00  148.50  121.00  180.00 
2RS  Cellar  99.00  147.50  120.00  178.50 
2RS  Sebastien  98.00  145.50  119.00  177.00 
2RS  Tipple  98.00  145.50  119.00  177.00 
2RS  Henley  98.00  145.50  119.00  177.00 
6RW  Esterel   96.00  143.00  112.00  166.50 

French Feed Barley Prices. Nominal prices
EURO = USD 1.4856 November 06,2009
Crop year 2009
Parity FOB Creil
Position July 2009
Type EURO USD
Feed Barley 95.00 141.13


Theoretical Malt Prices

  EURO = USD 1.4856 November 06, 2009 
Crop year  2009 
Parity  FOB Antwerp 
Position  Nov 2009 - Sept 2010 
Conditioning  Bulk   In bags  Bulk containers Bags, containers
Malting barley variety  EURO  USD  EURO  USD  EURO  USD  EURO  USD 
2RS  Scarlett  287.00  426.50  318.50  472.50  310.50  461.50  324.50  482.50 
2RS  Prestige  286.00  424.50  317.00  471.00  309.50  459.50  323.50  480.50 
2RS  Cellar  284.50  422.50  315.50  469.00  308.00  457.50  322.50  478.50 
2RS  Sebastien  283.50  421.00  314.50  467.50  307.00  455.50  321.00  477.00 
2RS  Tipple  283.50  421.00  314.50  467.50  307.00  455.50  321.00  477.00 
2RS  Henley  283.50  421.00  314.50  467.50  307.00  455.50  321.00  477.00 
2RS   Average price  284.50  422.50  315.50  469.00  308.00  457.50  322.50  478.50 
6RW  Esterel   280.00  417.50  312.00  463.50  304.50  452.00  318.50  473.50 
Asia Malt 70/30  283.50  421.00  314.50  467.50  307.00  456.00  321.50  477.00 
**  Asia Malt 50/50  282.50  420.00  314.00  466.50  306.50  455.00  320.50  476.00 


EURO = USD 1.4856 November 06, 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  312.00  463.50  343.50  510.00  335.50  498.50  350.00  519.50 
2RS  Prestige  311.00  461.50  342.00  508.00  334.50  496.50  348.50  518.00 
2RS  Cellar  309.50  460.00  341.00  506.50  333.00  495.00  347.50  516.00 
2RS  Sebastien  308.50  458.00  339.50  504.50  332.00  493.00  346.00  514.00 
2RS  Tipple  308.50  458.00  339.50  504.50  332.00  493.00  346.00  514.00 
2RS  Henley  308.50  458.00  339.50  504.50  332.00  493.00  346.00  514.00 
2RS   Average price  309.50  460.00  341.00  506.50  333.00  495.00  347.50  516.00 
6RW  Esterel   299.00  445.50  331.00  491.50  323.50  480.50  337.50  501.50 
Asia Malt 70/30  306.50  455.50  338.00  502.00  330.50  490.50  344.50  511.50 
**  Asia Malt 50/50  304.50  452.50  336.00  499.00  328.50  487.50  342.50  508.50 

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

Table of the Week

World Barley Supply & Demand

Area harvested mln ha Yield mt/ha Production mln mt Exports mln/mt Feed dom. consumption mln mt Domestic consumption mln mt Ending stocks mln mt
1986/87 79.6 2.2 178.1 18.3 132.1 173.8 33.8
1987/88 78.7 2.2 175.4 18.3 129.6 173.5 33.6
1988/89 76.4 2.2 164.4 19.0 121.9 166.3 31.7
1989/90 73.7 2.3 166.1 18.5 126.0 170.4 27.5
1990/91 72.9 2.5 179.5 19.6 130.8 175.5 31.5
1991/92 76.5 2.2 169.8 19.4 120.3 166.5 34.8
1992/93 73.1 2.3 166.2 16.4 119.0 165.6 34.9
1993/94 73.8 2.3 168.9 18.8 123.8 169.1 34.8
1994/95 72.8 2.2 160.7 15.3 120.9 165.6 29.9
1995/96 68.6 2.1 141.2 13.4 107.8 150.7 20.4
1996/97 65.6 2.3 153.1 17.9 106.3 149.5 23.9
1997/98 64.5 2.4 153.9 12.8 104.1 145.9 31.9
1998/99 60.8 2.2 136.0 17.8 99.5 139.4 28.6
1999/00 54.5 2.3 127.4 17.8 94.0 132.5 23.5
2000/01 53.9 2.5 133.1 16.2 94.7 134.4 22.2
2001/02 56.3 2.5 143.3 17.2 95.5 136.7 28.9
2002/03 55.7 2.4 134.4 16.3 95.0 136.6 26.7
2003/04 59.6 2.4 142.2 14.8 102.6 146.4 22.5
2004/05 57.9 2.6 152.4 16.9 100.0 142.4 32.6
2005/06 56.0 2.4 136.2 17.5 97.1 140.8 28.0
2006/07 57.0 2.4 136.5 14.6 98.6 143.2 21.3
2007/08 57.3 2.3 133.0 18.5 92.3 134.5 19.7
2008/09 55.2 2.8 153.9 18.8 99.5 143.3 30.4
2009/10f 55.6 2.6 147.2 17.5 102.2 147.1 30.5
Source: USDA, October 2009
Graph of the Week



These Days in Business History
November 05
1492 Christopher Columbus learns of maize (corn) from Indians of Cuba
1895 George Selden patents 1st gasoline-driven car

November 06
1851 Charles H Dow was born, co-founded Dow Jones/1st editor of Wall St Journal
1923 Col Jacob Schick patents 1st electric shaver

November 07
1865 London Gazette, oldest surviving journal, is founded
1867 Marie Curie is born, French Scientist, discovered radium, Nobel 1903, 1911
1929 The stock market sludges through a day of murky panic, as 2.4 million shares trade in the first half-hour, one of the heaviest openings yet on record

November 08
1789 Bourbon Whiskey, 1st distilled from corn (by Elijah Craig, Bourbon Ky)
1793 Louvre opens in Paris

Agenda