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E-Malt.com Newsletter 49a
November 30 - December 02, 2009
Open!
Click here to get full size Newsletter


Quote of the week

"The believer is happy - the doubter is wise"
Hungarian Proverb
Currency Rates
Base Currency: Euro, EUR
on 02-December-2009

1 EUR = 1.5051 USD
1 EUR = 0.9112 GBP
1 EUR = 1.5801 CAD
1 EUR = 1.6369 AUD
1 EUR = 130.633 JPY
1 EUR = 2.6192 BRL
1 EUR = 43.8221 RUB
1 EUR = 10.2928 CNY
Base Currency: US Dollar
on 02-December-2009

1 USD = 0.6644 EUR
1 USD = 0.6054 GBP
1 USD = 1.0498 CAD
1 USD = 1.0876 AUD
1 USD = 86.791 JPY
1 USD = 1.7402 BRL
1 USD = 29.1148 RUB
1 USD = 6.8384 CNY
Currency Rates Chart

Equities of the Largest Breweries

Equities of the Largest Breweries

Average Market Prices Change trend

December 02, 2009

Type Crop 2009 Crop 2010
2rs Barley EUR99.0-103.0 1.00% EUR121.0-125.0 0.82%
6rw Barley EUR94.0-98.0 EUR112.0-116.0
2rs Malt EUR284.5-288.5 0.53% EUR310.5-314.5 0.48%
6rw Malt EUR277.5-281.5 0.18% EUR298.5-302.5
Feed Barley EUR93.0-97.0 1.04% 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

EU: AB InBev’s Central European brewing assets sold to CVC Capital Partners ...Click here
Chile: CCU’s beer sales up both in Chile and Argentina in Q3 2009 ...Click here
Japan: Asahi Breweries sets itself ambitious objects for the next several years ...Click here
The Netherlands: Heineken CEO says the brewery will participate in the beer market consolidation game ...Click here
Mexico: Sources claim FEMSA’s beer attracts three brewers ...Click here
China: China Resources Holding thinking of spinning off its beer and realty businesses ...Click here
EU: NYSE Liffe to launch malting barley futures in the next quarter ...Click here


More News


Belgium & Germany: AB InBev thinks better of selling its Beck’s brand - sources ...More Info
Africa: Diageo looking to build the Guinness brand in Africa ...More Info
United Kingdom: Carlsberg to expand Northampton site to offset capacity cut at its Leeds brewery ...More Info
Belgium & Mexico: Arbitration panel to resume work on AB InBev/Grupo Modelo dispute this month - source ...More Info
United Kingdom: C&C Group’s acquisition of Tennent’s lager not to be investigated by the Competition Commission ...More Info
EU: European Commission clears AB InBev/CVC deal ...More Info
The Czech Republic: Plzeňský Prazdroj to modify prices to reflect excise duty and VAT ...More Info
Nigeria: January – September pre-tax profit up 21% at Heineken’s Nigerian unit ...More Info
United States: Boston Beer updates its $150 a bottle beer ...More Info
The Czech Republic: Radegast officially granted the registered name Czech beer ...More Info
Go to our news database with more than 16217 articles.
Today with the possibility to be translated in 7 different languages!
DE FR SP IT PT RU CN

Brewery News

EU: AB InBev’s Central European brewing assets sold to CVC Capital Partners

World’s leading brewer Anheuser-Busch InBev and CVC Capital Partners (“CVC”) announced on December, 2 that they have completed the sale of AB InBev’s Central European operations, as previously communicated on 15 October, to funds advised by CVC (“CVC Funds”) for an enterprise value of approximately USD 2.2 billion and additional rights to a future payment estimated to be as much as USD 800 million contingent on the CVC Funds’ return on their initial investment.

Included in the sale are AB InBev’s operations, to be renamed StarBev, in Bosnia-Herzegovina, Bulgaria, Croatia, Czech Republic, Hungary, Montenegro, Romania, Serbia and Slovakia.

As part of the agreement, StarBev will continue to brew Stella Artois, Beck’s, Löwenbräu and Spaten and distribute Hoegaarden and Leffe in the above countries under license from AB InBev.

AB InBev will also continue to brew Staropramen in Russia and Ukraine and to distribute it in several other countries including the US, Germany and the UK.

Barclays Capital and Lazard acted as financial advisors to AB InBev and Clifford Chance acted as legal advisor. Freshfields acted as legal counsel to CVC.


Chile: CCU’s beer sales up both in Chile and Argentina in Q3 2009

Chilean brewer Compania Cervecerias Unidas SA (CCU) reported on November, 26 its consolidated financial results, stated for the first time under IFRS, for the third quarter ended September 30, 2009.

“We are pleased with CCU’s third quarter results which are better than last year, despite the relentless consumption slow down coupled with an average weaker Chilean peso as compared to 2008, both being significant variables for our business,” the company’s management said.

CCU’s Q3 2009 total net sales increased 7.8%, to Ch$173,560 million, as a result of 3.3% higher consolidated volumes (of which 1.8 percentage points are due to organic growth) and 7.5% higher average prices in nominal Chilean pesos. The growth in the company’s Beer Argentina segment (0.1%) was partially offset by lower volumes in Beer Chile (- 4.7%). The higher average price in the segments is explained by the price actions taken since August 2008.

The company’s year-to-date (YTD) net sales increased 14.3% amounting to Ch$544,982 million.

Q3 2009 EBITDA increased 17.8%, to Ch$37,524 million, and the consolidated EBITDA margin improved 1.8 percentage points, reaching 21.6%.

YTD EBITDA increased 13.7% to Ch$125,573 million and the EBITDA margin reached 23.0%, decreasing 0.2 percentage points when compared to last year.

Net profit for the third quarter attributable to ...More Info


Japan: Asahi Breweries sets itself ambitious objects for the next several years

Asahi Breweries, Ltd. aims to increase its sales to ¥2–2.5 trillion by 2015, according to the company’s Long-Term Vision plan unveiled on December, 1.

In addition to stably growing existing businesses, the company said it will expand investment in domestic and overseas operations and will strive for increasing overseas operations’ share of total sales to 20–30%.

Asahi also said it aims to increase its EBITDA margin to 12% or more by pursuing improved profitability in existing businesses, mainly the Domestic Alcoholic Beverages Business. The Group is also targeting an EBITDA margin of 10% or more on new business investments.

According to Asahi’s Medium-Term Business Plan 2012, it intends to improve its domestic market position by intensively allocating resources to strengthening its brands in the beer and new-genre categories as a top priority, focusing particularly on its core brands, Asahi Super Dry and Clear Asahi.

In China, the Group’s existing beer business aims to early achieve profitability. It intends to do so by partnering with Tsingtao Brewery Co., Ltd., (e.g., joint procurement, reciprocal outsourcing of production) to improve profitability. Additionally, the Group aims to increase its income from equity-method affiliates by comprehensively supporting Tsingtao Brewery’s growth.

Elsewhere, the Group aims to expand Asahi Super Dry’s presence ...More Info


The Netherlands: Heineken CEO says the brewery will participate in the beer market consolidation game

Dutch brewer Heineken NV expects a quarter of the beer market to consolidate and 'will participate' in that process, its chief executive was quoted as saying by the Telegraaf on November, 30.

CEO Jean-Francois van Boxmeer said he expected a quarter of the global beer market will be bought up by the world's top four brewers, Anheuser-Busch InBev, SABMiller Plc, Heineken and Carlsberg.

"That is the game that is going on," Van Boxmeer was quoted as saying by the newspaper. "And we expect to participate."


Mexico: Sources claim FEMSA’s beer attracts three brewers

Three brewers are interested in buying Mexico's FEMSA Cerveza in a $7.5 billion plus auction, Reuters cited industry sources on November, 27.

SABMiller Plc, the world’s second-largest brewer, is seen as the front runner in the deal likely to be sealed in January, sources close to the situation said.

Europe-based brewers SABMiller and Heineken are both keen to buy one of the last big emerging market brewers, while Japan's largest brewer, Kirin Holdings Co, has asked for details on the brewer, which was effectively put up for sale last month.

"There are three groups looking at FEMSA. SABMiller and Heineken are in deep discussions, while Kirin has shown some interest," said one source with knowledge of the situation.

American brewer Molson Coors looked at FEMSA's beer operations but has backed away, largely reflecting the big loss it made buying Brazilian brewer Kaiser in 2002 then selling it to FEMSA in 2006, the sources said.

In early October, FEMSA said it was in talks with several parties to explore opportunities involving its beer business, and FEMSA's controlling family shareholders have already held talks with SABMiller, according to sources.

All parties declined comment on the matter.

FEMSA Cerveza has operations in two of the world's six biggest beer markets, ...More Info


China: China Resources Holding thinking of spinning off its beer and realty businesses

China Resources (Holdings) Co., Ltd. will possibly spin off its beer and realty businesses and make them public independently, Reuters reported on November, 27.

“It can be five years and it can also be 10 years, all depends on how the businesses grow,” Frank Lai, chief financial officer, told reporters.

The capitalization of the beer business has accounted for half of the CRE operations, and there is potential for the business to conduct a separate listing, he added.

In October, the Chinese conglomerate said it aimed to focus on the rapidly growing mainland consumer market through an asset swap with a major shareholder, in a deal valued at nearly HK$5 billion ($645 million).

The conglomerate will transfer its interest in a textile division and two container terminal operations in Hong Kong and China's Yantian to its major shareholder in exchange for a hypermarket chain and a brewery in Shandong.


Barley News

EU: NYSE Liffe to launch malting barley futures in the next quarter

NYSE Liffe, the European derivatives exchange of NYSE Euronext, will launch malting barley futures in the next quarter and expects them to be as popular as rapeseed contracts, Reuters reported on December, 1.

Malting barley crops an annual 12 million tonnes in the European Union, or about 20 percent of barley output in the 27-member bloc, the rest being used mainly for animal feed.

NYSE Liffe has been working on Paris-based barley contracts since early 2008 in response to demand from grain cooperatives and malt manufacturers seeking to hedge over extended periods, Lionel Porte, product manager at NYSE Liffe, said in an interview.

"There aren't any futures contracts anywhere in the world at the moment for malting barley," Porte said, noting the demise of malting barley futures based in Hanover, Germany.

The absence of futures for malting barley had even led some operators to try and hedge with wheat derivatives, given a correlation in the price movements of the two crops, he added.

Contract specifications for the barley futures have been agreed by barley producers, malt manufacturers and brewers from across Europe, and NYSE Liffe was now awaiting approval from its clearing house and France's financial regulator to proceed.

The contracts will have as delivery points ...More Info

Scientific Digest

Amplification Facilitators and Pre-Processing Methods for PCR Detection of Strictly Anaerobic Beer-Spoilage Bacteria of the Class Clostridia in Brewery Samples

R. Juvonen and A. Haikara

Abstract:
J. Inst. Brew. 115(3), 167–176, 2009 The aim of this study was to evaluate easy pre-PCR processing procedures to allow rapid and reliable detection of strictly anaerobic beer-spoilage bacteria throughout the brewing process by end-point and real-time PCR techniques. The efficiencies of the new procedures were evaluated using spiked brewery samples and specific PCRs for the target group bacteria. We found for the first time that the inclusion of 0.25% (w/v) bovine serum albumin (BSA) or 0.5% (w/v) polyvinyl pyrrolidone (PVP) in the end-point PCR mixture reduces the inhibiting effect of brewery sample extracts (3–10%, v/v) on PCR. Membrane filtration with a PVP or a sodium tri-polyphosphate-EDTA wash, and cross-flow filtration were the most promising new methods to reduce inhibitors from beer samples before cell lysis. Together with BSA, they allowed the analysis of 10% (v/v) of crude extracts instead of <3% (v/v). Moreover, we developed a one-hour procedure to prepare target DNA from process samples containing brewer’s yeast. It involved removal of inhibitors by a twostep centrifugation followed by physical disruption of cells. The detection limit of the procedure was 101–103 CFU/mL. The developed procedures help to reduce the risk of partial or complete PCR failure due to inhibition and target DNA losses, with minimal sample handling.
Key words: beer, brewing process, facilitator, inhibition, PCR detection, sample treatment, strictly anaerobic beer-spoilage bacteria.
Load full article, 10 pages, 400 kb , PDF file


Barley Prices
EURO = USD 1.5051 December 02, 2009  
 Crop year   2009   2010 
 Parity   FOB Creil   FOB Creil 
 Position   July 2009   July 2010 
Type   Variety  EURO  USD  EURO  USD 
2RS  Scarlett  103.00  155.50  125.00  188.50 
2RS  Prestige  102.00  153.50  124.00  187.00 
2RS  Cellar  101.00  152.50  123.00  185.50 
2RS  Sebastien  100.00  150.50  122.00  184.00 
2RS  Tipple  100.00  150.50  122.00  184.00 
2RS  Henley  100.00  150.50  122.00  184.00 
6RW  Esterel   96.00  144.50  114.00  171.50 

French Feed Barley Prices. Nominal prices
EURO = USD 1.5051 December 02,2009
Crop year 2009
Parity FOB Creil
Position July 2009
Type EURO USD
Feed Barley 95.00 142.98


Theoretical Malt Prices

  EURO = USD 1.5051 December 02, 2009 
Crop year  2009 
Parity  FOB Antwerp 
Position  Dec 2009 - Sept 2010 
Conditioning  Bulk   In bags  Bulk containers Bags, containers
Malting barley variety  EURO  USD  EURO  USD  EURO  USD  EURO  USD 
2RS  Scarlett  289.00  435.00  320.50  482.00  312.50  470.50  327.00  492.00 
2RS  Prestige  288.00  433.00  319.00  480.00  311.50  468.50  325.50  490.00 
2RS  Cellar  286.50  431.50  318.00  478.50  310.00  466.50  324.50  488.00 
2RS  Sebastien  285.50  429.50  316.50  476.50  309.00  465.00  323.00  486.50 
2RS  Tipple  285.50  429.50  316.50  476.50  309.00  465.00  323.00  486.50 
2RS  Henley  285.50  429.50  316.50  476.50  309.00  465.00  323.00  486.50 
2RS   Average price  286.50  431.50  318.00  478.50  310.00  466.50  324.50  488.00 
6RW  Esterel   279.50  422.00  311.50  469.00  304.00  457.50  318.50  479.00 
Asia Malt 70/30  284.50  428.50  316.00  475.50  308.50  464.00  322.50  485.50 
**  Asia Malt 50/50  283.50  426.50  314.50  473.50  307.00  462.00  321.50  483.50 


EURO = USD 1.5051 December 02, 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  315.00  473.50  346.00  520.50  338.50  509.00  352.50  530.50 
2RS  Prestige  313.50  472.00  344.50  519.00  337.00  507.50  351.50  528.50 
2RS  Cellar  312.50  470.00  343.50  517.00  336.00  505.50  350.00  527.00 
2RS  Sebastien  311.00  468.00  342.50  515.00  334.50  503.50  349.00  525.00 
2RS  Tipple  311.00  468.00  342.50  515.00  334.50  503.50  349.00  525.00 
2RS  Henley  311.00  468.00  342.50  515.00  334.50  503.50  349.00  525.00 
2RS   Average price  312.50  470.00  343.50  517.00  336.00  505.50  350.00  527.00 
6RW  Esterel   300.50  453.50  332.50  500.50  325.00  488.50  339.00  510.00 
Asia Malt 70/30  309.00  465.00  340.50  512.00  332.50  500.50  346.50  522.00 
**  Asia Malt 50/50  307.00  461.50  338.00  508.50  330.50  497.00  344.50  518.50 

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

EU Malting Barley Supply and Demand Estimate 2009/2010
in '000 tons Malt capacity end 2009 Barley malt production Barley demand Spring malting barley supply Winter malting barley supply Net +/- total
NORTHWEST            
Belgium 814 700 875 25 - -850
France 1283 1100 1375 2800 1200 2625
Germany 2236 1800 2250 1450 100 -700
Ireland 128 110 140 140 - -
Netherlands 326 280 350 100 - -250
United Kingdom 1544 1240 1550 1800 500 750
Total Northwest 6331 5230 6540 6315 1800 1575
BALTIC            
Denmark 277 220 275 1275 - 1000
Finland 172 140 175 275 - 100
Lithuania 82 60 75 75 - -
Poland 359 300 375 225 50 -100
Sweden 200 160 200 500 - 300
Total Baltic 1090 880 1100 2350 50 1300
SOUTHEAST            
Austria 170 150 190 190 - -
Bulgaria 58 50 65 40 - -25
Czech Republic 543 460 575 775 - 200
Hungary 134 100 125 25 50 -50
Romania 137 100 125 - 50 -75
Slovakia 286 210 265 265 - -
Total Southeast 1328 870 1345 1295 100 50
MEDITERRANEAN            
Greece 45 45 55 - - -55
Italy 74 70 90 30 - -60
Portugal 88 80 100 - - -100
Spain 497 450 565 365 - -200
Total Mediterranean 704 645 810 395 0 -415
NET TOTAL 9453 7625 9795 10355 1950 2510
Graph of the Week


Sourse: IGC

These Days in Business History
November 30
1886 1st commercially successful AC electric power plant opens, Buffalo
1924 1st photo facsimile transmitted across Atlantic by radio (London-NYC)
1983 Police free kidnapped beer magnate Alfred Heineken in Amsterdam
2005 First human face transplant is performed in France

December 01
1878 1st White House telephone installed
1910 Continuous moving assembly line introduced by Ford (car every 2:38)
1959 1st color photograph of Earth from outer space

December 02
1816 1st savings bank in U.S. opens (Philadelphia Savings Fund Society)
1901 Gillette patents 1st disposable razor
1927 1st Model A Fords sold, for $385
Agenda