E-Malt.com weekly newsletter
Week September 23 - September 29, 2002
Summary
1. Industry news. 2. Theoretical malt prices 3. Malting barley prices.
1. Industry news
On September the 25 the offering period of the public bid made by Heineken on
September 13 for all the shares of the Egyptian Al Ahram Beverages Company
ended. The bid has been successful. 97.8% i.e. in total 20,035,480 shares for
US$ 14 per share have been offered to Heineken. So, the total acquisition values
more than US$ 280 million. The transaction is expected to be realised on
September 29 2002.Al Ahram Beverages Company is the only Egyptian
brewery group, with a capacity of about 430,000 hl. Its pilsner beer brand
Stella is almost synonymous with beer in Egypt. The company produces as well as
non-alcoholic malt beverages, with a volume of about 620,000 hl....www.e-malt.com
Khairullin hopes to make the Russian Krasny Vostok brewery one of the world’s 10
largest breweries. Krasny Vostok is based in Central Russia, Republic of
Tatarstan, Kazan city. Khairullin took the ruling of the 100-year-old company in
1996, when the brewery was producing only 2 million dekalitres of beer per year,
Moscow Times.com revealed. Last year Krasny Vostok produced 40 million
dekalitres and has registered a 68% increase in sales up to $770 million. It
paid 1 billion rubles in taxes for that year, becoming the Tatarstan’s
fifth-largest taxpayer. "This year, we will produce about 55 million
dekalitres," he said in an interview at the company's headquarters on the
outskirts of the capital of Tatarstan. Moreover, Krasny Vostok is intending to
raise its capacity to 150 million dekalitres per year by investing $60 million
in opening a brewery in Novosibirsk in the first quarter of 2003....www.e-malt.com
Beer, wines and spirits importer and distributor, Central European Distribution
Corporation (CEDC), has declared that it has signed a Letter of Intent to
acquire Onufry Company, a distributor of beers, wines and spirits in the north
of Poland with net sales of about $30 million in 2001.This will be
CEDC’s sixth acquisition since its initial public offering in July 1998. The
company is expecting to complete the acquisition in the fourth quarter of 2002
and increase its earnings....www.e-malt.com
US brewery, Anheuser-Bush (A-B), has won its legal battle with the Czech beer
company, Budejovicky Budvar, regarding the Budweiser brand name. A-B declared
that the New Zealand Court of Appeal had reversed an earlier High Court decision
and interdicted Budejovicky Budvar to import, advertise or sell beer under the
Budweiser brand.According to the Court of Appeal decision, Budejovicky
Budvar and its New Zealand distributor would have to destroy any products,
labels, advertisements and other promotional material under Budweiser brand.
However, the court does not affect the Czech company’s rights to use the name of
Budejovicky Budvar.
The Canadian brewer, Brick Brewing Company, has announced good results for the
second quarter of 2002: 25% increase in sales from C$5.8 million to C$7.2
million; 56% rise of beer volumes. Operating income before interest and
amortisation increased from C$0.920 million to C$0.931 million. The company said
that lower earnings growth was registered for the Algonquin brand. Jim
Brickman, the company’s president and founder said: “"We are very pleased with
this quarter's operating results considering the margin shortfall from the
Algonquin trademark disposal in July, 2001. This was more than offset by strong
performances elsewhere in the Brick beer portfolio, especially the success of
the stubby bottle introduction."
Heineken is continuing strengthening its position in growing beer markets by
purchasing an additional 69% shares in the Lebanese brewery Almaza S.A.L.
Heineken already holds a 10% stake of Almaza for 42 years. The acquisition will
increase its total stake to 79%. This move will “create a better balance between
the activities of Heineken in mature and in developing markets”, the company
said....www.e-malt.com
More news are available on site www.e-malt.com
2. Theoretical malt prices.
| EURO = USD 0.9816 September 25, 2002 |
| 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 |
nq |
nq |
nq |
nq |
nq |
nq |
nq |
nq |
| 2RS |
Scarlett |
309.00 |
303.50 |
324.50 |
318.50 |
321.50 |
315.50 |
330.50 |
324.50 |
| 2RS |
Aspen |
309.00 |
303.50 |
324.50 |
318.50 |
321.50 |
315.50 |
330.50 |
324.50 |
| 2RS |
Optic |
306.50 |
301.00 |
322.00 |
316.00 |
319.00 |
313.00 |
328.00 |
322.00 |
| 2RS |
Nevada |
304.00 |
298.50 |
319.50 |
313.50 |
316.50 |
310.50 |
325.50 |
319.50 |
| 2RS |
Astoria |
302.50 |
297.50 |
318.00 |
312.50 |
315.00 |
309.50 |
324.50 |
318.50 |
| 2RS |
Cork |
302.50 |
297.50 |
318.00 |
312.50 |
315.00 |
309.50 |
324.50 |
318.50 |
| 2RS |
Average price |
306.50 |
300.50 |
321.50 |
315.50 |
318.50 |
312.50 |
327.50 |
321.50 |
| 2RS |
FAQ |
301.50 |
296.00 |
317.00 |
311.00 |
314.00 |
308.00 |
323.00 |
317.00 |
| 6RW |
Esterel |
276.50 |
271.50 |
292.00 |
286.50 |
289.00 |
283.50 |
298.00 |
292.50 |
|
3. Malting barley prices - all prices are nominal. French barley prices
| EURO = USD 0.9816 September 25, 2002 |
| Crop year |
2002 |
| Parity |
FOB Creil |
| Position |
July 2002 |
| Type |
Variety |
EURO |
USD |
| 2RS |
Prisma |
nq |
nq |
| 2RS |
Scarlett |
149.00 |
146.50 |
| 2RS |
Aspen |
149.00 |
146.50 |
| 2RS |
Optic |
147.00 |
144.50 |
| 2RS |
Nevada |
145.00 |
142.50 |
| 2RS |
Astoria |
144.00 |
141.50 |
| 2RS |
Cork |
144.00 |
141.50 |
| 6RW |
Esterel |
126.00 |
124.00 |
| 6RW |
Maeva |
nq |
nq |
nq - Not quoted
Prices for Danish and UK malting barley are available on site www.e-malt.com
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