E-Malt.com weekly newsletter
Week September 30 - October 06, 2002
Summary
1. Industry news. 2. Theoretical malt prices 3. Malting barley prices.
1. Industry news
Prazdroj spokesman, Michal Kacena stated that three Czech breweries, Radegast, Velke Popovice and Plzensky Prazdroj, have been finally merged. The merging was approved at annual general meetings in June 2002. However it has been delayed by four lawsuits from minority shareholders, all of which were defeated.
All the rights and duties of the Radegast and Velke Popovice companies have been transferred to Plzensky Prazdroj, Kacena said. All the operations are owned by the UK brewing group, South African Breweries (SAB).
Two German breweries Beck’s and Diebels merged into Interbrew Deutschland Vertriebs GmbH on September 1, 2002. This new company is a member of Interbrew Deutschland and is in charge of coordination the sales of the two breweries. Roland Tobias (Sales manager Interbrew Deutschland) and Henning Meyer (Head of the sales) are the two directors of the new company.
The investment bank, Morgan Stanley, reported that it has raised its rating on Belgian brewing combine, Interbrew, to "overweight" from "equal weight" on valuation grounds.
Morgan Stanley said: "While there are some justifications for share price weakness we think 20% relative underperformance to the European beverage sector since July is too much."
The UK brewer, Scottish & Newcalstle (S&N), said that it has appointed John Dunsmore, 43, as chairman and managing director of S&N’s subsidiary, Scottish Courage. Before Dunsmore, the chairman and managing director of the subsidiary was Graham Kendrick who is now retiring.
The German brewer, Karlsberg, posted a turnover of EUR 589 million for the fiscal year to the end of March 2002, which is 1.2% more than for the previous fiscal year. The company added that it planned to launch its pre-mixed dinks, Mixery and Desperados, in export markets as well as a new beer brand called Blondes.
The Taiwan Tsingtao Brewery Group is intending to spend US$ 86 million to build a brewery, which will produce China’s leading bear brand Tsingtao on the Island. The company will be the first Taiwan firm to be licensed by a China brand. The new brewery is expected to have an annual capacity of up to 200,000 tonnes. This move was made because of a successful market for Tsingtao brand established in Taiwan.
More news are available on site www.e-malt.com
2. Theoretical malt prices.
Malt prices have followed the malting barley prices. In August maltsters had concluded business at USD 265 - 275 for 2rS malt and USD 245 - 250 for 6rW barley malt, present prices levels are:
| ORIGIN |
VARIETY |
CROP |
PARITY |
DESTINATION / ORIGIN |
CURRENCY |
PRICE |
DELIVERY |
COMMENTS |
| EU |
2rS any variety |
2002 |
FOB |
seaport, in bulk |
EUR |
310 - 315 |
2003 |
done |
| EU |
2rS any variety |
2002 |
FOB |
seaport, in bulk in container |
EUR |
330 - 335 |
2003 |
done |
| EU |
6rW Esterel |
2002 |
FOB |
seaport, in bulk |
EUR |
285 - 290 |
2003 |
done |
|
3. Malting barley prices - all prices are nominal. French barley prices
| EURO = USD 0.9832 October 02, 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 |
145.00 |
142.50 |
| 2RS |
Cork |
145.00 |
142.50 |
| 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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