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E-Malt.com Newsletter 24b
June 10 - June 13, 2010
Open!
Click here to get full size Newsletter


Quote of the week

“The mouth of a perfectly happy man is filled with beer.”
Egyptian proverb
Currency Rates
Base Currency: Euro, EUR
on 11-June-2010

1 EUR = 1.2075 USD
1 EUR = 0.8255 GBP
1 EUR = 1.2502 CAD
1 EUR = 1.4318 AUD
1 EUR = 110.12 JPY
1 EUR = 2.2153 BRL
1 EUR = 38.1705 RUB
1 EUR = 8.2584 CNY
Base Currency: US Dollar
on 11-June-2010

1 USD = 0.8283 EUR
1 USD = 0.6835 GBP
1 USD = 1.0353 CAD
1 USD = 1.1857 AUD
1 USD = 91.2019 JPY
1 USD = 1.8346 BRL
1 USD = 31.6105 RUB
1 USD = 6.8391 CNY
Currency Rates Chart

Equities of the Largest Breweries

Equities of the Largest Breweries

Average Market Prices Change Trend

June 11, 2010

Type Crop 2009 Crop 2010
2rs Barley EUR105.0-109.0 EUR137.0-141.0
6rw Barley EUR100.0-104.0 EUR120.0-124.0
2rs Malt EUR288.0-292.0 EUR322.0-326.0
6rw Malt EUR281.5-285.5 EUR301.0-305.0
Feed Barley EUR92.0-96.0 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

EU: Malting barley usage estimated at 80% in 2010/2011 ...Click here
China: Carlsberg acquires additional stake in Chongqing Brewery for USD341 mln ...Click here
Turkey & the Netherlands: Anadolu Efes makes another step in taking over Efes Breweries International ...Click here
Denmark: Carlsberg says to buy further in Asia but not Foster's beer division ...Click here
Japan: Asahi Breweries says beer sales decline by 6.6% in January - May this year ...Click here
The Czech Republic: Plzeňský Prazdroj's profit before tax down 1% in FY2010 ...Click here
World: Global barley output expected to be slightly down in 2010 ...Click here
France: Malting barley growers expect to harvest up to 2.4 mln tonnes ...Click here


More News


Japan: Brewers hoping to profit by Soccer World Cup ...More Info
United States: Boston Beer's stock outperforming that of AB InBev and SABMiller ...More Info
Canada: Farmers want control over CWB but opinions on malting barley trade are divided ...More Info
Tanzania: SABMiller's subsidiary posts a 14% increase in FY210 profit ...More Info
South Africa: SABMiller announces successful closing of SAB Zenzele Retail offer ...More Info
Go to our news database with more than 17066 articles.
Today with the possibility to be translated in 7 different languages!
DE FR SP IT PT RU CN

Brewery News

China: Carlsberg acquires additional stake in Chongqing Brewery for USD341 mln

Danish brewing giant Carlsberg announced on June, 10 it had entered into a conditional agreement to increase its shareholding in Chongqing Brewery Co. Ltd (CBC) from 17.46% to 29.71%.

The purchase price for the 12.25% stake in CBC is RMB 40.22 per share or approximately RMB 2,385 mln (approximately DKK 2.1 bln, or $341 million) in total, Carlsberg said.

The transaction is conditional upon a number of steps and approvals by authorities and minority shareholders.

CFO Jorn Jensen said the acquisition was strategically important to Carlsberg, and though the 2.1 billion crown price was high compared with other beer deals, it was inflated by biotech assets held by Chongqing.

“Asia is becoming a more significant platform for Carlsberg,” said Michael Rasmussen, an analyst at SEB Enskilda in London with a “buy” rating on the stock. “If Chongqing is consolidated into Carlsberg, they’ll have 15 percent of volumes in that region,” meaning international competitors will have to look at other areas of the country.

CBC operates 15 breweries in China. CBC is market leader in the Chongqing province and operates in the surrounding provinces of Sichuan, Guizhou, Guangxi and Hunan and in the eastern Chinese provinces of Anhui, Zhejiang and Jiangsu.

In 2009 CBC's Chinese volumes ...More Info


Turkey & the Netherlands: Anadolu Efes makes another step in taking over Efes Breweries International

Further to the announcement on 30 March 2010, Turkish brewer Anadolu Efes said on June, that it now holds 211,104,904 shares in Efes Breweries International N.V. ("EBI"), representing approximately 99.85 per cent of the entire issued share capital of the Netherlands-based company.

This follows the acquisition by Anadolu Efes of a further 167,608 EBI GDRs (equivalent to 838,040 EBI shares) at a price of $17.00 per EBI GDR in the market since the announcement on 30 March 2010 that Anadolu Efes had acquired 10,987,470 EBI GDRs (equivalent to 54,937,350 EBI shares) from a group of GDR holders.

The 11,155,078 EBI GDRs acquired by Anadolu Efes in aggregate since 30 March 2010 are now held in the form of 55,775,390 EBI shares by Anadolu Efes.

As previously indicated, as a result of holding over 95 per cent of the outstanding issued share capital of EBI, Anadolu Efes intends to acquire the remaining EBI shares (including EBI shares represented by GDRs) by means of a squeeze-out procedure in accordance with article 2:92a of the Dutch Civil Code before the Enterprise Chamber of the Court of Appeals in Amsterdam, the Netherlands ("Court").

The squeeze-out process is anticipated to take between 4 to 9 months to ...More Info


Denmark: Carlsberg says to buy further in Asia but not Foster's beer division

Danish brewer Carlsberg is on the look-out for further acquisitions in Asia after raising its stake in a Chinese brewer, the group's chief financial officer was quoted as saying by Reuters on June, 11.

"This is a natural extension of our growth strategy that we have voiced in the past couple of years that acquisitions will happen in Asia and particularly in China and Indochina," CFO Jorn Jensen said.

Carlsberg said it had agreed to raise its stake in China's Chongqing Brewery Co Ltd to nearly 30 percent from from 17.5 percent for about 2.1 billion crowns ($341 million) to further its Asian expansion.

Jensen said Carlsberg has a strong foothold in western China, so it will be looking eastwards for further acquisitions "though not necessarily all the way to the coast."

He added that Carlsberg was not interested in buying brewing assets held by Australia's Foster's, which recently said it would split off its beer division to focus on its wine and spirits business.


Japan: Asahi Breweries says beer sales decline by 6.6% in January - May this year

Asahi Breweries said on June, 10 its total domestic beer sales declined by 8.2% to 169,522 kl in May 2010. January – May beer sales dropped by 6.6% to 740,426 kl.

Low-malt happoshu beer saw the biggest decrease in demand – minus 32.1% in May and minus 33.7% in the first five months of this year. Sales of standard beer fell by 11.3% and 6.8% respectively, whereas new genre malt-based beer enjoyed a 25.7% growth last month and a 21.1% growth in Jan-May.

Clear Asahi was the only brand to see increase in demand both in May and in the first five months of 2010. Sales of Asahi Off dropped most, by 15.5% and 13.4% respectively.


The Czech Republic: Plzeňský Prazdroj's profit before tax down 1% in FY2010

Plzeňský Prazdroj, SABMiller's Czech subsidiary, said on June, 10 its profit before tax for the fiscal year ending March 31, 2010 decreased by 1% to CZK 4.686 bln.

The company recorded income for sales of goods, the company's own products and services amounting CZK 15.411 bln, which represents a 2.5% decrease versus the previous fiscal year.

"Plzeňský Prazdroj achieved these results in the face of adverse economic conditions. The market was impacted by and significant increase in VAT and excise tax in January and by growing unemployment. This resulted in second consecutive year of declining consumption in the total malt beverage market after several years of growth. Our financial results reflect our focus on portfolio development, particularly in the Premium segment led by continued share growth of Pilsner Urquell. We managed to capitalize on the early launch of Gambrinus Excellent in the growing 11-degree beer segment. Our premium brands portfolio was further strengthened by the re-launch of Birell , extension of Frisco brand family, and more recently by the introduction of our specialty beer Master in bottles," says Doug Brodman, Managing Director of Plzeňský Prazdroj.

The financial results of the fiscal year reflect the continued investment in the development of Czech heritage brands ...More Info


Malt News

EU: Malting barley usage estimated at 80% in 2010/2011

Experts consider that capacity usage in the coming crop year will improve insignificantly. They are counting on 80% usage of malting barley for commercial maltsters, distiller-maltsters and part of the brewer-maltsters, an industry research note communicated earlier this month.

Excepted are the Mediterranean malt deficit countries, with a total capacity of 625,000 tonnes, which should be used 100%, and a segment of brewer-maltsters with a capacity of 1 mln tonnes, to be 100% used as well.

That would add up to a malt production of 8.0 – 8.5 mln tonnes in 2010/11, experts forecast.

Taking into account that maltsters keep extra stocks of old crop malting barley for 30 to 45 days, barley needs of crop 2010 are expected to total 9.0 to 9.5 mln tonnes.


Barley News

World: Global barley output expected to be slightly down in 2010

Barley crop forecasts remain optimistic and market estimates are bearish in both USDA and IGC's latest reports. World barley crops forecast for 2010 is 141 to 143 mln tonnes, 6 mln tonnes under last year´s good crop.

Expected consumption is 143 to 145 mln tonnes, ending stocks are estimated at 38 (IGC) to 34 (USDA) mln tonnes, significantly more than the ending stocks in 2007 and 2008 (20 mln tonnes).

All over the world barley production is being reduced in favour of corn (maize) and oilseeds.

The U.S. barley crop will be 4.2 mln tonnes, 1.2% of the corn crop, experts believe.

The use of grain for production of ethanol will continue to grow, the oil disaster in the Gulf of Mexico will speed up legislation for increased mandatory use of ethanol in the U.S. The estimate for 2010/11 is a grain usage of 138 mln tonnes for ethanol in the world, of which 127 mln tonnes of corn and 1 mln tonnes of barley.


France: Malting barley growers expect to harvest up to 2.4 mln tonnes

France planted about 400 – 500,000 ha of winter malting barley, of which around 60% Cervoise variety, according to industry sources.

The crop of the varieties Esterel, Azurel, Arturio, Cartel and Vanessa could reach 800 – 900,000 tonnes, crop of Cervoise variety – up to 1.5 mln tonnes, it is forecast.

The Cervoise variety is reportedly disliked by a significant number of brewers. It is clear, however, that French winter barley besides Danish and U.K. spring barleys will be needed to safeguard domestic and export supplies.

Scientific Digest


Josua, joint supplier assessment by a group of European maltsters

Jan De Bruyn, Johan Vissenaekens

ABSTRACT Within the framework of traceability, quality and food safety of malting barley, a group of European Maltsters has developed a common audit-system called JOSUA. JOSUA leads to uniformity of supplier-evaluation within the malting industry. It offers clear insight in area's for improvement for the suppliers of malting barley, not only on an individual basis but also in general.
Cerevisia, 33(1) 2008 http://www.cerevisia.eu

Barley Prices
French Malting Barley Prices
EURO = USD 1.2075 June 11, 2010
 Crop year   2009   2010 
 Parity   FOB Creil   FOB Creil 
 Position   July 2009   July 2010 
Type   Variety  EURO  USD  EURO  USD 
2RS  Scarlett  109.00  132.00  141.00  170.50 
2RS  Prestige  108.00  130.50  140.00  169.50 
2RS  Cellar  107.00  129.50  139.00  168.00 
2RS  Sebastien  106.00  128.00  138.00  167.00 
2RS  Tipple  106.00  128.00  138.00  167.00 
2RS  Henley  106.00  128.00  138.00  167.00 
6RW  Esterel   102.00  123.50  122.00  147.50 

Nominal French Feed Barley Prices
EURO = USD 1.2075 June 11, 2010
Crop year 2009
Parity FOB Creil
Position July 2009
Type EURO USD
Feed Barley 94.00 113.51
Canadian Barley Prices
USD = CAD 1.0353, June 11, 2010
Canadian Malting Barley Prices, CWB Quotes/Indications, Basis Export Position Crop 2009 in C$/tCrop 2010 in C$/t
2-Row Malting Barley, Domestic 237.00 237.00
2-Row Malting Barley, Off Shore 233.00 233.00
2-Row Malting Barley, for USA 233.00 233.00
2-Row Malting Barley, for Mexico 233.00 233.00
6-Row Malting Barley, Domestic 225.00 225.00
6-Row Malting Barley, Off Shore * 218.00 218.00
6-Row Malting Barley, for USA 218.00 218.00
6-Row Malting Barley, for Mexico 218.00 218.00
Canadian Feed Barley Values, Basis Lethbridge non board Crop 2009 in C$/tCrop 2010 in C$/t
Feed Barley, Basis Lethbridge non board 150.00 nq
* rarely traded


US Barley Prices, Crop 2009
USD = EUR 0.8283, June 11, 2010
Malting Barley Pricesin US$/t
2-Row Malting Barley, Basis Great Falls, Montana nq
6-Row Malting Barley, Basis Minneapolis, Minnesota 146.00
Feed Barley Pricesin US$/t
Feed Barley Basis Great Falls, Montana 119.00
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 1.2075 June 11, 2010 
Crop year  2009 
Parity  FOB Antwerp 
Position  June 2010 - Sept 2010 
Conditioning  Bulk   In bags  Bulk containers Bags, containers
Malting barley variety  EURO  USD  EURO  USD  EURO  USD  EURO  USD 
2RS  Scarlett  292.50  353.00  323.50  390.50  316.00  381.50  330.00  398.50 
2RS  Prestige  291.00  351.50  322.50  389.00  314.50  380.00  329.00  397.00 
2RS  Cellar  290.00  350.00  321.00  387.50  313.50  378.50  327.50  395.50 
2RS  Sebastien  288.50  348.50  320.00  386.00  312.00  377.00  326.50  394.00 
2RS  Tipple  288.50  348.50  320.00  386.00  312.00  377.00  326.50  394.00 
2RS  Henley  288.50  348.50  320.00  386.00  312.00  377.00  326.50  394.00 
2RS   Average price  290.00  350.00  321.00  387.50  313.50  378.50  327.50  395.50 
6RW  Esterel   283.50  342.50  315.00  380.50  307.50  371.00  321.50  388.00 
Asia Malt 70/30  288.00  347.50  319.50  385.50  311.50  376.00  325.50  393.50 
**  Asia Malt 50/50  286.50  346.50  318.00  384.00  310.50  374.50  324.50  392.00 


EURO = USD 1.2075 June 11, 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  326.50  394.50  357.50  432.00  350.00  422.50  364.50  439.50 
2RS  Prestige  325.50  392.50  356.50  430.50  348.50  421.00  363.00  438.50 
2RS  Cellar  324.00  391.50  355.50  429.00  347.50  419.50  361.50  437.00 
2RS  Sebastien  323.00  389.50  354.00  427.50  346.50  418.00  360.50  435.50 
2RS  Tipple  323.00  389.50  354.00  427.50  346.50  418.00  360.50  435.50 
2RS  Henley  323.00  389.50  354.00  427.50  346.50  418.00  360.50  435.50 
2RS   Average price  324.00  391.50  355.50  429.00  347.50  419.50  361.50  437.00 
6RW  Esterel   303.00  366.00  334.50  403.50  326.50  394.50  341.00  411.50 
Asia Malt 70/30  317.50  383.50  349.00  421.50  341.50  412.00  355.50  429.50 
**  Asia Malt 50/50  313.50  378.50  344.50  416.50  337.00  407.00  351.50  424.00 

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 1.0353, June 11, 2010
Theoretical Canadian Malt Prices, Basis Export Position Crop 2009 in C$/tCrop 2010 in C$/t
2-Row Malt, Domestic 458.00 458.00
2-Row Malt, Off Shore 453.00 453.00
6-Row Malt, Domestic 443.00 443.00
6-Row Malt, Off Shore* 433.00 433.00
* 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



EU Malt Exports

(in tonnes) Licence Fixations Export Shipments
(Adjusted)
Export Shipments
(To be adjusted)
2007 - 2008 2008 - 2009 July 01, 2009 -
March 31, 2010
France 357,498 323,305 267,606
Germany 352,420 241,245 152,123
Belgium 578,586 688,350 578,839
Bulgaria 2,860 804 333
U.K. 106,867 127,324 113,371
Finland 60,217 46,540 25,738
Denmark 99,380 54,942 38,308
Sweden 96,700 84,880 51,824
Netherlands 90,756 99,057 74,240
Ireland - - -
Italy 3,148 2,773 1,301
Austria 9,085 6,511 4,879
Spain - 19,058 8,572
Romania 500 - -
Portugal 476 1,028 918
Czech Republic 25,203 21,635 26,455
Poland 2,025 2,066 52
Hungary 2,638 13,099 14,198
Slovakia 16,645 16,796 10,722
Lithuania 1,855 1,038 2,275
Latvia - 347 110
Total EU 1,806,858 1,750,797 1,371,862

Total Roasted malt, tonnes
July 01, 2009 - March 31, 2010 32,760
Total 2008 - 2009 39,945
Total 2007 - 2008 28,177
Source: Eurostat
Graph of the Week


Source: Sindicerv

These Days in Business History
June 10
1977 Apple Computer ships its 1st Apple II
1994 Biggest European clock ever (9100 kg/2.5 m) is installed at Aarle-Rixtel
1996 Intel releases 200 mhz pentium chip

June 11
1644 Florentine scientist describe invention of barometer
1742 Benjamin Franklin invents his Franklin stove
1816 Gas Light Co of Baltimore founded

June 12
1849 Gas mask patented by Lewis Haslett, Louisville, Kentucky
1928 After more than 130 years of trading, the New York Stock Exchange finally has its first day on which more than 5 million shares trade hands, as total daily volume hits 5,252,425 shares
1991 Microsoft releases MS DOS 5.0

June 13
1933 Financial and Economy World conference opens, 66 countries
1934 Black-McKeller Bill passes, causing Bill Boeing empire to break up into Boeing United Aircraft [Technologies] and United Air Lines
1975 1st oil pumped from North Sea oilfield

Agenda