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E-Malt.com Flash 39b
September 25 - September 28, 2014

Quote of the Week

"From man's sweat and God's love, beer came into the world."
Saint Arnoldus

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Currency Rates

Base Currency: Euro
on September 26, 2014
Base Currency: US Dollar
on September 26, 2014
      1 EUR = 1.2751 USD
1 EUR = 0.7816 GBP
1 EUR = 1.4146 CAD
1 EUR = 1.4458 AUD
1 EUR = 139.0630 JPY
1 EUR = 3.0588 BRL
1 EUR = 48.9480 RUB
1 EUR = 7.8339 CNY
      1 USD = 0.7843 EUR
1 USD = 0.6129 GBP
1 USD = 1.1094 CAD
1 USD = 1.1339 AUD
1 USD = 109.0650 JPY
1 USD = 2.3989 BRL
1 USD = 38.3875 RUB
1 USD = 6.1438 CNY

Currency Rates Chart

Equities of the Largest Breweries

Breweries Equities

Average Market Prices Change Trend

September 26, 2014
Type Crop 2014 Crop 2015
2rs Barley 176.00-178.00 - 190.00-192.00 down0.52%
6rw Barley 154.00-156.00 - 161.00-163.00 -
2rs Malt 366.00-368.00 - 383.00-385.00 down0.32%
6rw Malt 339.00-341.00 - 347.50-349.50 -
Feed Barley 141.00-143.00- nq 

Note: Just click here and you will be led to our Market Price History. These are average French barley market prices estimated on FOB Creil basis. The theoretical average malt prices are 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

Brewery news World: SABMiller’s bid for Heineken shows brewers retain thirst for growth ...Click here
Brewery news Japan: Kirin Breweries to buy minority stake in craft beer maker Yo-Ho Brewing ...Click here
Brewery news Macao & Hong Kong: Tsingtao revenues up 13.5% in H1 2014 ...Click here

More Industry News

Brewery news Brazil: Government has no plans to raise beer taxes this year - sources ...Click here
Brewery news Vietnam: Consumption tax on beer to rise to 65 pct in 2018 - report ...Click here
Barley news Russia: Baltika Breweries wants to switch to locally grown malting barley only ...Click here
Brewery news Russia: Alcohol watchdog says more than half of beer and beer-based beverages are produced illegally ...Click here
Brewery news Côte d'Ivoire: Brasseries Ivoiriennes aiming at increasing capacity ...Click here
Brewery news Colombia: SABMiller launches Dutch beer Grolsch ...Click here
Brewery news North America: AB InBev appoints new head for North America zone ...Click here

Graph of the week

Table of the week

Australian Barley Supply and Disposal

Table of the week.
Prices Evolution

Prices evolution

Barley Prices

Theoretical Malt Prices

Scientific Digest

Why do noble hops differ from flavor hops?

German researchers took the varieties Topaz (AUS), Citra (US) and Hallertau Mittefrueh for the production of identical beer with whirlpool aroma addition to see how the aroma and flavor of the beers would differ. They found that 2- and 3-methylbutyric acid, S-methyl 3-methylbutanethioate, myrcene, linalool and geraniol are important aroma compounds in hops and vary widely between varieties. Whirlpool hopping can contribute high levels of R-linalool and geraniol to beer. Interestingly, the high level of linalool for Mittelfrueh also yielded in the most intense floral impression, while high levels in geraniol, betacitronellol and methyl geranate correlated with strong citrus aroma. However the other fruity characters from sensory evaluation could not be connected to a single or a certain group of substances.
Read more

Source: Barth Innovations

These Days in Business History

September 25
1639 1st printing press in America
1654 England & Denmark sign trade agreement
1897 1st British bus service opens
1926 Henry Ford announces 8 hour, 5-day work week

September 26
1404 Brussels Brabants/Limburgse audit-office established
1680 Tax revolt in Gorinchem due to tax on cereal
1786 England & France sign trade agreement
1972 Norway rejects membership in European Common Market

September 27
1825 Railroad transportation is born with 1st track (Stockton-Darlington)
1968 France refuses UK entry into common market
1988 Senate votes for major federal tax code changes

September 28
1879 Sydney Australia inaugurates steam motor tram route
1923 Radio Times 1st published
1953 Dutch government proclaims 5% general pay increase on Jan 1, 1954


BreweryBrewery News Brewery

Brewery news World: SABMiller’s bid for Heineken shows brewers retain thirst for growth
Any doubt about SABMiller chief executive Alan Clark’s appetite for deals were erased with his bid for Heineken, Bloomberg said on September 26.

Clark’s preliminary offer – rejected by Heineken, the maker of a namesake lager, Amstel and Newcastle Brown Ale – could stimulate an industry poised for a new round of consolidation.

Just a year ago, Clark said deals were less important than growing SABMiller’s brands such as Peroni and Castle Lager. His hand may be forced by an even thirstier competitor: Anheuser-Busch InBev.

“The SAB culture is one of progress and advance,” Matthew Beesley, the portfolio manager and head of global equities for Henderson Global Investors, said. “You’ve seen that in the bid for Heineken.”

Global brewers have raced to control emerging markets in places like Africa and China, where a rising middle class now has money to spend on premium brands.

They have little choice. Sales in the $651 billion global industry have grown just 1.3 percent annually since 2004.

AB InBev, which makes Stella Artois and Budweiser, has moved the fastest, knocking down close to $100 bln in acquisitions in the past decade.

Buying Heineken could help London-based SABMiller close the gap. It also could block or at least delay one potential way ...More info on site

Brewery newsJapan: Kirin Breweries to buy minority stake in craft beer maker Yo-Ho Brewing
Kirin Breweries, one of Japan’s top beermakers, is about to pay $9.2 million for a minority stake (33.4%) in Yo-Ho Brewing, a brewery with ...More info on site

Brewery news Macao & Hong Kong: Tsingtao revenues up 13.5% in H1 2014
Tsingtao Beer’s revenues from Macao, Hong Kong and overseas increased by 13.5 percent to RMB243 million (MOP316 million, US$39.6 million) in the first half of the year from RMB214.1 million in the corresponding period a year earlier, Tsingtao Brewery Co Ltd announced in its interim report filed with the Hong Kong Stock Exchange.

While the company separates its segments by region, that of Macao, Hong Kong and overseas are combined. Profits for this segment totalled RMB26.3 million between January and July, according to the company’s financial results. That is an increase on the RMB25.2 million profit posted in the same period a year earlier.

Total revenue from external customers in Hong Kong and Macao increased to RMB126.7 million for the first six months of the year from RMB122.2 million in the corresponding period in 2013.

The company’s overall net profit was RMB186.7 million (MOP239.1 million, US$29.9 million) for the first six months of the year, a 74.8 percent drop from the RMB741.1 million recorded in the same period a year earlier. On the other hand, the company’s revenues increased to RMB9.99 billion from RMB8.94 billion.

Tsingtao Brewery’s consolidated net profit – including that of the main company and its subsidiaries – was RMB1.44 billion ...More info on site

Brewery news Brazil: Government has no plans to raise beer taxes this year - sources
The Brazilian government has no plans to raise taxes on beverages this year, a representative of the industry said on September 23 after meeting Finance Minister Guido Mantega.

A new delay in plans to increase taxes on beers, soft drinks and other beverages could pile more pressure on the government finances already under strain after a series of tax breaks, Reuters reported. A finance ministry representative was not immediately available for comments.

President Dilma Rousseff has promised to rein in spending and reconstitute some tax breaks to improve the fiscal accounts, but her government has continued to give tax incentives to industries ahead of the October presidential elections.

Rousseff's rivals Marina Silva and Aecio Neves accuse the leftist leader of relaxing the tough fiscal rules that helped bring stability to an economy plagued by crises just a few decades ago.

The government delayed the tax increase due in June for three months to avoid a spurt in prices during the month-long World Cup of soccer. Representatives of the national association of bars and restaurants said at the time that the increase could also result in the firing of thousands of workers.

Fernando Rodrigues de Barros, the head of the sector's association known as Afrebras, said ...More info on site

Brewery news Vietnam: Consumption tax on beer to rise to 65 pct in 2018 - report
Special consumption tax on beer would be raised to 55 percent in 2015, 60 percent in 2016 and 65 percent in 2018 from 50 percent now, according to a draft law amendment to be submitted to Vietnam's National Assembly for approval, the Dau Tu (Investment) newspaper reported.

Higher tax should be in place to help limit the use of the beverage and boost state budget income, the report quoted Finance Minister Dinh Tien Dung as saying.

Brewery news Russia: Alcohol watchdog says more than half of beer and beer-based beverages are produced illegally
Russia's state alcohol watchdog has raised the alarm on massive counterfeit beer operations throughout the country after discovering that more than half of all beer and beer-based beverages in the country are produced illegally, Interfax reported on September 24.

In the first half of this year, 275 million of the 540 million litres of beer and beer-based beverages sold in Russia were of unknown origin, the Federal Service for Alcohol Market Regulation told Interfax.

The drinks in question are legally required to contain at least 40 percent beer, but the regulator claims that many are instead based on ethyl alcohol.

Records indicate that wholesalers are responsible for brewing the illegal batches, the regulator said. The agency seized about 4 million units of illegal beverages this year during raids on wholesalers with the Interior Ministry and the FSB, a successor agency to the Soviet-era KGB.

There are 2,903 wholesalers of beer beverages in Russia. When inspecting 55 of them, the alcohol regulator found that about 20 were fake vendors created for forging documents to accompany illegal products.

"The sharp rise in the illegal production of alcoholic beverages under the guise of beer-based beverages is the result of a lack of full government control over the licensing ...More info on site

Brewery news Côte d'Ivoire: Brasseries Ivoiriennes aiming at increasing capacity
In a period of just over a year, Brasseries Ivoiriennes (LBI) has managed to make a breach in Solibra’s historic monopoly on the Côte d'Ivoire’s beer market, Jeune Afrique reported on September 24.

LBI started operations in the first quarter of 2013 and now is estimated to have 12% of the market. The company is planning to further expand its presence in the country by increasing its current bottling capacity of 250 thousand hl to 425 thousand hl.

Solibra is owned by the French Groupe Castel.

Brewery news Colombia: SABMiller launches Dutch beer Grolsch
Dutch beer Grolsch is for sale in Colombia as of September 24, distributor Bavaria said.

Grolsch, first brewed in the Netherlands in 1615 and featuring 5 percent alcohol content, is now the oldest brand among the global offerings distributed by Bavaria, the company said in a statement.

“We are convinced of Grolsch’s positive impact in the Colombian beverage market, thanks to its distinctive characteristics: flavor, body, color and an inspiring and creative packaging,” Bavaria vice president Fernando Jaramillo said.

In a recent interview with the El Espectador newspaper, Jaramillo said Colombia had a relatively low consumption of beer at 44 litres per capita annually, compared to, for example, 73 litres in neighboring Venezuela.

In fact, beer sales in Colombia have been decreasing after reaching 63 litres per capita annually in 1990, Jaramillo said.

Bavaria, owned since 2005 by brewing giant SABMiller, said Grolsch was available in 70 countries with annual sales close to 2.1 million hectolitres.

Brewery news North America: AB InBev appoints new head for North America zone
Anheuser-Busch InBev has appointed João Castro Neves to head its North America zone. Current North America zone president, Luiz Fernando Edmond, will take on a globally focused position as chief sales officer, the company announced on September 26.

Edmond took his current post as North America zone president and CEO of Anheuser-Busch in November 2008 when A-B was acquired by InBev for $52 billion. He joined Brazilian brewer Brahma, which became Ambev, in 1990 and in 2005, he became CEO of Ambev before taking his current post.

Neves currently serves as president for AB InBev’s Latin America north zone and CEO of Ambev and has been in the position since 2009. He joined Ambev in 1996 as a management trainee and eventually became the company’s chief financial officer. In 2007, he became president of InBev’s Latin America south zone and served until taking his current position.

Bernardo Pinto Paiva, AB InBev’s current chief sales officer, will succeed Neves as zone president Latin America north.

The management changes are effective Jan. 1, officials said in a release.

Belgium-based Anheuser-Busch InBev posted second-quarter profit of $2.8 billion, down 62 percent from last year’s quarter, on revenue that climbed 15.2 percent to $12.2 billion. World: AB InBev appoints new ...More info on site

BarleyBarley News Barley

Barley news Russia: Baltika Breweries wants to switch to locally grown malting barley only
Russia’s leading beer maker Baltika Breweries intends to cover its entire malting barley needs with domestically produced barley, company president Isaak Sheps was quoted as saying by RBC-Rostov.

At the moment, only 30% of the company’s barley needs are sourced domestically. Baltika will work on increasing this share through an agriculture project with farmers in various regions of the country, Mr. Sheps said.

The CEO also did not rule out closing of some of the company’s 10 breweries in Russia, though he did not specify which of them may finally be closed. He said that as per the company’s forecasts Russia’s beer market may decline by 7-8% if the best scenario happens, but as per the most negative expectations and if the PET-bottles ban is approved by the government, the fall may be between 20-40%.

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