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E-Malt.com newsletter
February 20 - February 23, 2003
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1. Trading info
At this moment there are
two OFFERS for 3000 tons of malt on the trading portal www.e-malt.com
- Offer for 1000 mtons of malt, Any 2RS(100%), crop 2002, bulk,
delivery 01/03/2003 - 31/07/2003, at EUR 298.00 /mton, FOB Antwerp.
(to see and make a bid to the malt offer, please view code MF2102P1000)
- Offer for 1000-2000 mtons of malt, 6RW, Esterel(100%), crop 2002, bulk,
delivery 01/06/2003 - 31/08/2003, at EUR 274.00 /mton, FOB Antwerp.
(to see and make a bid to the malt offer, please view code MF2102P1340)
Top Industry News
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Brazilian beer giant AmBev said on February 19 it would spend $38 million over the next 12 months to build...
Click here
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Hartwall Group, based in Helsinki, Finland, a subsidiary of Scottish and Newcastle, announced on February 20 full year results...
Click here
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The Russian Brewers Union has appealed to the Government to request further measures to protect small and medium-scale brewing businesses...
Click here
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Sales of classic beer in Japan fell down by 11.2% in January this year compared to January 2002.
Click here
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Grupo Modelo, Mexico's largest brewer, said on February 19 its fourth-quarter net profit dropped 11.8%...
Click here
More news are available on site www.e-malt.com
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Fitch Ratings affirms the 'A-' senior unsecured foreign and local currency ratings of Compania Cervecerias Unidas S.A.
...more info
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Standard & Poor's Ratings Services said today that Compania Cervecerias Unidas S.A.'s announcement of its entrance in the "Pisco" (domestic spirits) business
...more info
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Mexican brewer and bottler Femsa, Latin America's largest drinks company, said on February 19 its fourth quarter operating income rose 10.3%
...more info
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America's brewers are preparing for a nationwide promotion in remembrance of the end of Prohibition, which was repealed 70 years ago, this year
...more info
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Denmark's Carlsberg Breweries posted a slightly higher-than-expected 15 percent rise in full-year 2002 operating profit
...more info
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Germany's biggest brewer Holsten Brauerei said on February 19 it was not aware of any takeover approach after newspapers reported that a foreign investor
...more info
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The Russian Federation Governmental decreed a reduction of the duty imposed on imported aluminium cans down to EUR 22 for 1,000 pieces
...more info
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Several Western brewers have found a solution to the impossible equation on how to sell malt beverages to countries in the Middle East
...more info
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Dutch brewer Grolsch NV reported on February 19 a 5.1% rise in 2002 net profit and said it could not give a concrete outlook for the full year
...more info
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Topvar brewery from Slovak Republic increased its revenues by 120 million crowns year-on-year, having sold
...more info
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Japan's Kirin Brewery Co Ltd defied stagnant beer demand at home to post a 41%rise in group net profit in 2002 and predicted better results ahead
...more info
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Central European Distribution Corp., a leading international beer and spirits distributor, said on February 18 its 2003 earnings would be higher than expected
...more info
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The Russian agro-holding “ZeRos” based in Lipetsk city has decided to triple the sowing of brewing barley this spring
...more info
2. Industry news
Brazilian beer giant AmBev said on February 19 it would spend $38 million over the next 12 months to build its first brewer and distribution network in Peru, which it plans to have up and running in the first half of 2004. "AmBev's decision to pursue a greenfield project in Peru is a consequence of: the growth potential of the market, the company's internationalization strategy in Latin America, AmBev's developed know-how in the launch of greenfield projects, and the relatively low entry cost," it said in a statement.
AmBev's will go head-to-head in the Peruvian market with Union de Cervecerias Peruanas Backus & Johnston, the sole domestic brewer, which has a virtual monopoly in Peru's beer market. Since its formation in 2000, AmBev has tended to buy rivals rather than start operations from the very beginning...more info
Hartwall Group, based in Helsinki, Finland, a subsidiary of Scottish and Newcastle, announced on February 20 full year results for the twelve months January – December 2002. The results show a strong operating & financial performance in the period. Hartwall Group reported EUR 958.0 million net sales -18.6% up from the previous year; EUR 188.8 million operating profit – 16.2% up. The results are based on the accounting policies of Hartwall and have not been adjusted for the policies of Scottish & Newcastle plc.
The financial statements do not incorporate the impact of fair value adjustments nor goodwill arising from the acquisition of Hartwall by S&N. S&N will consolidate the results of Hartwall from May 2002.
The Russian Brewers Union has appealed to the Government to request further measures to protect small and medium-scale brewing businesses in Russia. The main threat to the sector, according to the Union, is the existing taxation regime. A letter addressed to the Cabinet of Ministers has requested the amendment of the current taxation.
According to the State Statistics Committee there are 310 major Russian brewers, out of which 30 are big companies with capacity over 60 million litres. The left 280 brewers are small and medium-scale businesses. The latter are mostly exposed to the shortcomings of the federal policy in the small business sector, according to the Union Executive Director Vyacheslav Mamontov...more info
Sales of classic beer in Japan fell down by 11.2% in January this year compared to January 2002. Beer sales for the first month totaled 221.93 million litres. Sales of happoshu – a beer like beverage – increased by 12.2% up to 124.2 million litres. Hence happoshu is holding 35.9% of Japanese beer market – up 2.2% against December 2002. As a whole beer and happoshu sales totaled 346.13 million litres in January 2003, what is 4% less then in January 2002.
Grupo Modelo, Mexico's largest brewer, said on February 19 its fourth-quarter net profit dropped 11.8%, hit by a drop in national sales but propped up by exports. "The contraction in the domestic market is mainly due to economic factors negatively impacting sales in December," said Modelo, the maker of Corona beer, the top selling foreign brew in the United States. Modelo said net profit for the quarter was 815 million pesos, lower than market expectations.
Its shares are down 10 percent this year and trading midway between 12-month lows and highs. "As a result of a fall in national shipments and an increase in export volumes, total shipments of beer in the quarter grew 2.7%," Modelo said in a statement...more info
3. Theoretical malt prices.
| EURO = USD 1.0819 February 21, 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 |
294.00 |
318.00 |
309.50 |
335.00 |
306.50 |
331.50 |
315.50 |
341.50 |
| 2RS |
Scarlett |
294.50 |
319.00 |
310.00 |
335.50 |
307.00 |
332.00 |
316.50 |
342.00 |
| 2RS |
Aspen |
293.50 |
317.50 |
309.00 |
334.00 |
306.00 |
331.00 |
315.00 |
340.50 |
| 2RS |
Optic |
293.00 |
317.00 |
308.50 |
333.50 |
305.50 |
330.00 |
314.50 |
340.00 |
| 2RS |
Astoria |
291.00 |
315.00 |
306.50 |
331.50 |
303.50 |
328.00 |
312.50 |
338.00 |
| 2RS |
Cork |
291.00 |
315.00 |
306.50 |
331.50 |
303.50 |
328.00 |
312.50 |
338.00 |
| 2RS |
Average price |
293.00 |
317.00 |
308.50 |
333.50 |
305.50 |
330.50 |
314.50 |
340.50 |
| 2RS |
FAQ |
290.00 |
313.50 |
305.00 |
330.00 |
302.00 |
327.00 |
311.50 |
336.50 |
| 6RW |
Esterel |
268.00 |
290.00 |
283.50 |
306.50 |
280.50 |
303.50 |
289.50 |
313.00 |
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Theoretical malt prices for crop 2003 are available on site www.e-malt.com
4. Malting barley prices. French barley prices. Nominal prices.
| EURO = USD 1.0819 February 21, 2003 |
| Crop year |
2002 |
2003 |
| Parity |
FOB Creil |
FOB Creil |
| Position |
July 2002 |
July 2003 |
| Type |
Variety |
EURO |
USD |
EURO |
USD |
| 2RS |
Scarlett |
141.50 |
153.50 |
143.50 |
155.50 |
| 2RS |
Prisma |
141.00 |
152.50 |
nq |
nq |
| 2RS |
Prestige |
nq |
nq |
142.50 |
154.50 |
| 2RS |
Aspen |
140.50 |
152.50 |
140.50 |
152.50 |
| 2RS |
Optic |
140.00 |
151.50 |
140.50 |
152.50 |
| 2RS |
Astoria |
138.50 |
150.00 |
139.00 |
150.50 |
| 2RS |
Cork |
138.50 |
150.00 |
139.00 |
150.50 |
| 6RW |
Esterel |
123.00 |
133.50 |
123.50 |
134.00 |
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