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E-Malt.com Newsletter 13a
March 22 - March 24, 2010
Open!
Click here to get full size Newsletter


Quote of the week

"The day you decide to do it is your lucky day"
Japanese proverb
Currency Rates
Base Currency: Euro, EUR
on 24-March-2010

1 EUR = 1.3517 USD
1 EUR = 0.899 GBP
1 EUR = 1.377 CAD
1 EUR = 1.4745 AUD
1 EUR = 122.117 JPY
1 EUR = 2.423 BRL
1 EUR = 39.9006 RUB
1 EUR = 9.2409 CNY
Base Currency: US Dollar
on 24-March-2010

1 USD = 0.7399 EUR
1 USD = 0.665 GBP
1 USD = 1.0187 CAD
1 USD = 1.0908 AUD
1 USD = 90.3526 JPY
1 USD = 1.7926 BRL
1 USD = 29.5193 RUB
1 USD = 6.8366 CNY
Currency Rates Chart

Equities of the Largest Breweries

Equities of the Largest Breweries

Average Market Prices Change Trend

March 24, 2010

Type Crop 2009 Crop 2010
2rs Barley EUR94.0-98.0 EUR121.0-125.0
6rw Barley EUR92.0-96.0 EUR108.0-112.0
2rs Malt EUR272.5-276.5 0.72% EUR302.5-306.5 0.65%
6rw Malt EUR270.0-274.0 0.73% EUR286.5-290.5 0.69%
Feed Barley EUR86.0-90.0 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

China: SABMiller and China Resources not to rest on their laurels ...Click here
Belgium: Duvel Moortgat reports positive 2009, expects growth to continue in 2010 ...Click here
India: Locally produced beer still more attractive than imported premium brands ...Click here
United Kingdom: Beer duty to add another 5% from Sunday ...Click here
Thailand: ThaiBev targeting growth in premium beers segment ...Click here
World: Brewers and suppliers may opt for extended forward contracts as demand for hops falls ...Click here
Czech Republic: Hops production down 2% in 2009 ...Click here


More News


Indonesia: Planned excise tax increase will affect badly the nation’s brewing industry - Malt Beverage Producers Association ...More Info
Tanzania: Serengeti Breweries in final talks concerning production of five EABL beers ...More Info
Spain: Damm brewery presents its first wheat beer ...More Info
United Kingdom: New Guinness black lager to offer consumers greater choice ...More Info
Australia: Malting barley varieties downgraded to feed cause frustration for many growers ...More Info
South Africa: SABMiller expected to sell up to 10 mln beers during the World Cup ...More Info
Canada: Molson Coors serves microcarbonated M beer ...More Info
Sweden & Thailand: Thai Leo beer to be available in Sweden ...More Info
Go to our news database with more than 16732 articles.
Today with the possibility to be translated in 7 different languages!
DE FR SP IT PT RU CN

Brewery News

China: SABMiller and China Resources not to rest on their laurels

SABMiller Plc and its Chinese partner China Resources Snow Breweries will pursue acquisitions and increase production capacity to boost growth in the world’s most populous nation, Bloomberg reported on March, 21.

According to Ari Mervis, managing director of SABMiller’s Asia operations, building capacity in China (which had 593 breweries in 2009) remains ‘relatively cheap’.

SABMiller/China Resources Snow venture will also continue to open new breweries, he said.

SABMiller, which owns 49 percent of China Resources Snow, competes with Budweiser maker AB InBev NV and Tsingtao Brewery Co. in a market where per capita beer consumption of 30 litres last year exceeded the global average of 27 litres, according to Seema International Ltd.

China Resources Snow Breweries is also boosting sales of premium brews to tap rising incomes in the world’s fastest- growing major economy.

Rising household income and health consciousness in China are prompting consumers to shift to better-quality products, said Shaun Rein, founder and managing director of China Market Research Group in Shanghai. Such acquisitions will help both foreign players that are trying to break into new markets and local producers with better access to restaurants and convenience stores yet which typically compete on prices.

“The problem is too much of the ...More Info


Belgium: Duvel Moortgat reports positive 2009, expects growth to continue in 2010

Belgian brewer Duvel Moortgat said on March, 19 it managed to hold off the impact of the economic crisis in 2009.

During the 2009 financial year, the Duvel Moortgat Group realised a consolidated turnover of €113 million, up 12% on 2008.

The operating income rose by 9% to €115.3 million.

The results of operating activities (EBIT) grew by 26.3% to €24 million, owing to cost-controlling efforts, amongst others. The EBIT margin increased from 18.8% in 2008 to 21.2%.

The results of operating activities after net finance costs rose by 20.8% to € 21.8 million. The financial results in 2009 are negatively influenced mainly by the results of conversions of receivables, debts and foreign currency credits at the closing rate per 31/12/2009, owing to higher debt costs and lower interest profits from working capital.

The consolidated profits increased by 22.3% to €14.9 million.

Duvel’s gross operational cash flow (EBITDA) rose by 15.5% to €35.6 million. The EBITDA margin grew from 30.5% to 31.5%.

In 2009, Duvel Moortgat’s activities abroad continued to gain importance. While the non-Belgian markets represented 15% of the consolidated turnover in 1999, they represented 45% in 2009. For the first time, turnover abroad exceeded the € 50 million mark. Turnover in the priority export markets ...More Info


India: Locally produced beer still more attractive than imported premium brands

Despite growth in India's beer consumption, there is little competition for United Breweries, or UB Group, and SABMiller, The Media Magazine posted on March, 23.

“Beer is the alcoholic drink of initiation,” says H. N. Kiran, research director, TNS India. “There are young drinkers, perhaps even below the legal age of their state. They drink beer with friends when parents are away.”

Indians are re-appraising the role of alcohol in everyday life, according to Kiran. “In the past, if a son was caught drinking, he would be reprimanded. Now, parents are fine with a college-age son having a beer with friends.”

Yet, for most Indians, beer is a rare indulgence. Per-capita annual income was US$831 last year. By local standards, beer prices are astronomical, primarily due to taxes, which vary from state to state. The cost of a glass of beer ranges from $0.51in Panaji to $1.83 in Channai, according to the voluntary data posted on pintprice.com. Euromonitor data shows a higher national average of $2.58 per litre.

Instead, working class Indians tend to turn to whisky - 99 per cent of it distilled domestically. In fact, populous India is the world’s largest whisky market. Or they rely on traditional rural brews such as ...More Info


United Kingdom: Beer duty to add another 5% from Sunday

Beer duty will increase by a further 5% from midnight on Sunday, Chancellor Alistair Darling announced on March, 24.

Duty on beer will increase by two per cent above inflation, as per the duty escalator. This will mean an overall rise of around five per cent, the Chancellor said.

The alcohol duty escalator was introduced in 2008, which means a two per cent above inflation rise on duties until 2012. The government previously said that along with rises in fuel duty this would raise £6bn.

The British Beer & Pub Association warned the latest hike would be bad news for the industry.

"This latest beer tax hike piles on the misery for Britain's hard-pressed pubs and beer lovers," said chief executive Brigid Simmonds.

"It is also a snub to voters, who by a majority of two to one wanted the Chancellor to scrap the beer tax escalator.

"Since 2008, beer tax has increased by an eye-watering 26 per cent – a £761 million tax rise - and we have seen the loss of 4,000 pubs and over 40,000 jobs up and down the country. Beer sales are down £650m in the last year alone.”

"Recently, there had been some signs of improvement in our ...More Info


Thailand: ThaiBev targeting growth in premium beers segment

Thai Beverage (ThaiBev) is aiming to boost the market share of its Federbrau premium beer in a move to increase its profits and further penetrate the beer market, The Nation reported on March, 23.

"We want to double the market share of Federbrau from the current 2 to 3 per cent to about 5 per cent this year. We are also aiming to increase its sales by about 20 per cent this year," Charlie Jitcharoongphorn, deputy managing director of Thai Beverage Marketing, said.

He added that ThaiBev hoped to increase the market share of Federbrau to 10 per cent in the next three years. The key customers of Federbrau are young urbanites aged 20-25 in the A and B socio-economic groups.

"All of our marketing activities are based on in-depth study of the brand DNA and its targeted customers," Charlie said. "According to the study, consumers of the Federbrau brand are adventurous, charming and playful."

Charlie said the premium beer segment accounts for only 4 per cent of the overall beer market in Thailand, worth nearly Bt100 billion. Heineken dominates more than 90 per cent of the premium beer market.

He added that the overall beer market had dropped by between 10 and 11 per ...More Info


Hops News

World: Brewers and suppliers may opt for extended forward contracts as demand for hops falls

Pre-agreed forward contracts for the supply of hops to the global giants of brewing could be stretched far longer than their original, mostly three-year, terms, Thomas Raiser, head of sales at hop supplier Barth-Haas, was quoted as saying by Brewers’ Guardian on March, 19.

The extension of the contracts may become the brewers’ and suppliers’ response to the falling demand for hops.

“We’re in the midst of negotiations about rolling some contracts’ quantities into future years, meaning some contracts could expire later [than next year]," Thomas Raiser is quoted as saying.

“This affects everybody who has contracted more hops than they need. It’s across the board, from the big global players, to the medium-sized players to the smaller craft brewers.”

According to Mr. Raiser, forward contracts are key to steadying the boom and bust cycle of recent years. In 2007 severe hop shortages pushed prices sky-high, prompting record acreage increases.

Today, prices have slumped and the market is in surfeit. Supplier Hopsteiner puts this year's surplus at around 2,700 tons of alpha acid. Joachim Gehde, MD of the firm's German operations, said: "We're in a situation where oversupply rules."

Last autumn some 500 acres of US hops were left un-harvested thanks to the depressed market, ...More Info


Czech Republic: Hops production down 2% in 2009

Czech hop growers harvested 6,616 tonnes of hops in 2009, down 2 percent year-on-year, according to the Agriculture Ministry's data published in the latest issue of the weekly Zemedelec.

The average yield stayed almost unchanged in year-on-year comparison, reaching 1.25 tonnes per hectare.

Despite the slight drop last year's harvest was the fourth best in 12 years. It could have been even better if it were not for windstorms and hailstorms in May and end-July which destroyed about 300 hectares of hop-fields.

After more than 10 years, the year 2008 saw a fundamental growth in hop growers' prices, the average price rising to Kc190,000 per tonne of dry hops.

The hop-field area in the Czech Republic decreased from 10,436 hectares in 1990 by nearly one half to last year's 5,307 hectares. Nearly one third of the hop-fields are older than 20 years.

Most of Czech hop production is exported, mostly to Japan, Germany, China, Russia and Britain.

The Czech Republic ranks third in the world in terms of hop fields, right behind Germany, the USA and China.

Scientific Digest

The Release of Ferulic Acid and Feruloylated Oligosaccharides During Wort and Beer Production

Dominik Szwajgier, Jacek Pielecki1 and Zdzisław Targoński

J. Inst. Brew. 111(4), 372–379, 2005 ABSTRACT
Ferulic acid, a very attractive natural antioxidant is present in beer in free form, but the main form is the bound form as feruloylated oligosaccharides. Previous research showed that feruloylated oligosaccharides more effectively inhibited lipid and Low Density Lipoprotein oxidation than free ferulic acid. The aim of the present study was to evaluate free and bound ferulic acid concentrations throughout the brewing process in experimental mashes (worts, beers during fermentation, maturation and storage), and to conduct a comparison in commercial beers. Another aim of the study was to investigate methods to increase levels of bound ferulic acid in beer due to the potential health benefits. Specifically, the influence of commercial enzyme preparations on both forms of ferulic acid contents was studied. Five commercial enzyme preparations during mashing were examined: Celluclast, Shearzyme, Viscozyme, Cereflo and Ultraflo. In all experimental beers, the concentrations of esterified ferulic acid were 4–6 fold higher than the corresponding free ferulic acid contents, depending on the enzyme preparation used. Ferulic acid contents in the ester form in experimental beers were in the range of 748.4 mg/hL to 1244.3 mg/hL, whereas the contents of free ferulic acid were in the range of 134.6 mg/hL to 275.2 mg/hL. Comparison of free and bound ferulic acid contents in experimental beers, produced using enzyme preparations and commercial beers found in a local market, showed that concentrations of bound ferulic acid in experimental beers were significantly higher than in commercial beers, whereas concentrations of free ferulic acid in experimental and commercial beers were comparable. Key words: Antioxidant, beer, ferulic acid, mashing, wort. Load full article, 8 pages, 562kb , PDF file

Barley Prices
French Malting Barley Prices
EURO = USD 1.3517 March 24, 2010  
 Crop year   2009   2010 
 Parity   FOB Creil   FOB Creil 
 Position   July 2009   July 2010 
Type   Variety  EURO  USD  EURO  USD 
2RS  Scarlett  98.00  132.50  125.00  169.00 
2RS  Prestige  97.00  131.50  124.00  168.00 
2RS  Cellar  96.00  130.00  123.00  166.50 
2RS  Sebastien  95.00  128.50  122.00  165.00 
2RS  Tipple  95.00  128.50  122.00  165.00 
2RS  Henley  95.00  128.50  122.00  165.00 
6RW  Esterel   94.00  127.50  110.00  149.00 

Nominal French Feed Barley Prices
EURO = USD 1.3517 March 24, 2010
Crop year 2009
Parity FOB Creil
Position July 2009
Type EURO USD
Feed Barley 88.00 118.95
Canadian Barley Prices, Crop 2009
USD = CAD 1.02, March 24, 2010
Canadian Malting Barley Prices, CWB Quotes/Indications, Basis Export Positionin C$/t
2-Row Malting Barley, Domestic 234.00
2-Row Malting Barley, Off Shore 212.00
2-Row Malting Barley, for USA 212.00
2-Row Malting Barley, for Mexico 212.00
6-Row Malting Barley, Domestic 222.00
6-Row Malting Barley, Off Shore * 200.00
6-Row Malting Barley, for USA 192.00
6-Row Malting Barley, for Mexico 192.00
Canadian Feed Barley Values, Basis Lethbridge non boardin C$/t
Feed Barley, Basis Lethbridge non board 150.00
*rarely traded


US Barley Prices, Crop 2009
USD = EUR 9.24, March 24, 2010
Malting Barley Pricesin US$/t
2-Row Malting Barley, Basis Great Falls, Montana 133.00
6-Row Malting Barley, Basis Minneapolis, Minnesota 107.00
Feed Barley Pricesin US$/t
Feed Barley Basis Great Falls, Montana 120.00
Canadian malt and barley prices as well as US barley prices information provided by
Integrated Malt Barley Management Ltd IMBM


Malt Prices

Theoretical EU Malt Prices
  EURO = USD 1.3517 March 24, 2010 
Crop year  2009 
Parity  FOB Antwerp 
Position  Mar 2010 - Sept 2010 
Conditioning  Bulk   In bags  Bulk containers Bags, containers
Malting barley variety  EURO  USD  EURO  USD  EURO  USD  EURO  USD 
2RS  Scarlett  277.00  374.50  308.50  416.50  300.50  406.50  315.00  425.50 
2RS  Prestige  276.00  372.50  307.00  415.00  299.50  404.50  313.50  424.00 
2RS  Cellar  274.50  371.00  306.00  413.50  298.00  403.00  312.50  422.00 
2RS  Sebastien  273.50  369.50  304.50  411.50  297.00  401.50  311.00  420.50 
2RS  Tipple  273.50  369.50  304.50  411.50  297.00  401.50  311.00  420.50 
2RS  Henley  273.50  369.50  304.50  411.50  297.00  401.50  311.00  420.50 
2RS   Average price  274.50  371.00  306.00  413.50  298.00  403.00  312.50  422.00 
6RW  Esterel   272.00  368.00  303.50  410.00  295.50  399.50  310.00  419.00 
Asia Malt 70/30  274.00  370.00  305.00  412.50  297.50  402.00  311.50  421.00 
**  Asia Malt 50/50  273.50  369.50  304.50  411.50  297.00  401.50  311.00  420.50 


EURO = USD 1.3517 March 24, 2010 
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  307.00  414.50  338.00  457.00  330.50  446.50  344.50  465.50 
2RS  Prestige  305.50  413.00  336.50  455.00  329.00  444.50  343.50  464.00 
2RS  Cellar  304.50  411.50  335.50  453.50  328.00  443.00  342.00  462.50 
2RS  Sebastien  303.00  409.50  334.50  452.00  326.50  441.50  341.00  460.50 
2RS  Tipple  303.00  409.50  334.50  452.00  326.50  441.50  341.00  460.50 
2RS  Henley  303.00  409.50  334.50  452.00  326.50  441.50  341.00  460.50 
2RS   Average price  304.50  411.50  335.50  453.50  328.00  443.00  342.00  462.50 
6RW  Esterel   288.50  389.50  319.50  432.00  312.00  421.50  326.00  440.50 
Asia Malt 70/30  299.50  405.00  330.50  447.00  323.00  436.50  337.50  456.00 
**  Asia Malt 50/50  296.50  400.50  327.50  442.50  320.00  432.50  334.00  451.50 

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

Canadian Malt Prices
USD = CAD 1.02, March 24, 2010
Theoretical Canadian Malt Prices, Basis Export Position in C$/t
2-Row Malt, Domestic 454.00
2-Row Malt, Off Shore 426.00
6-Row Malt, Domestic 438.00
6-Row Malt, Off Shore* 410.00
*rarely traded
Canadian malt and barley prices as well as US barley prices information provided by
Integrated Malt Barley Management Ltd IMBM
Prices Evolution

Prices evolution

Table of the Week

Finland's Domestic Beer Sales 2001 – 2009
in thousand hl
Year Over 4.7
% alc. vol
2.9 - 4.7
% alc. vol
Max 2.8
% alc. vol
Total
2009 167.70 3960.99 61.49 4190.18
2008 179.98 3930.68 63.62 4174.28
2007 186.38 4014.49 62.30 4263.17
2006 204.15 3985.56 66.99 4256.70
2005 208.41 3973.36 72.82 4254.59
2004 229.50 3865.16 84.45 4179.11
2003 257.19 3679.43 100.84 4037.46
2002 280.18 3737.33 118.57 4136.08
2001 283.35 3680.14 121.12 4084.61
Source: Finnish Federation of the Brewing and Soft Drinks Industry.
Note: The statistics do not include sales by actors outside the Federation, nor private imports of brewery products, which are not statistically recorded.
Graph of the Week


Source: USDA, March 2010

These Days in Business History
March 22
1895 Auguste and Louis Lumière show their 1st movie to an invited audience
1933 Franklin D. Roosevelt makes wine and beer with up to 3.2% alcohol legal
1960 1st patent for lasers, granted to Arthur Schawlow and Charles Townes

March 23
1836 Coin Press invented by Franklin Beale
1857 Elisha Graves Otis installs the world's first safety elevator for passengers in the E.V. Haughwout and Co. store in New York City.
1861 London's 1st tramcars, designed by Mr. Train of New York, begins operating
1951 Wages in France increase 11%

March 24
1867 Metropolitan Life Insurance Co. forms
1898 1st automobile sold
1955 1st seagoing oil drill rig placed in service
Agenda