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Base Currency: Euro, EUR on 10-December-2004 1 EUR = 1.3319 USD 1 EUR = 0.6912 GBP 1 EUR = 1.6264 CAD 1 EUR = 1.7667 AUD 1 EUR = 139.26 JPY 1 EUR = 3.7040 BRL 1 EUR = 37.3598 RUB 1 EUR = 11.0368 CNY	Base Currency: US Dollar on 10-December-2004 1 USD = 0.7510 EUR 1 USD = 0.5190 GBP 1 USD = 1.2211 CAD 1 USD = 1.3264 AUD 1 USD = 104.57 JPY 1 USD = 2.7810 BRL 1 USD = 28.050 RUB 1 USD = 8.2865 CNY
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• Canada: Molson Inc. and Adolph Coors Co. plan to hold votes on their $3.4 billion merger to create the world's fifth-biggest brewer on January 19 ... Click here
  
  
• China, Beijing: China Resources Breweries, a subsidiary of China Resources Enterprise, Limited and a joint venture with SABMiller plc., has set up a 220 million yuan brewery ... Click here
  
  
• Mexico: The powerful Mexican brewing industry could change its face in the next five years, because of the increasing competition of the global brands ... Click here
  
  
• France: Beer sales in France will register a fall between 5% and 7% in 2004, compared to the previous year ... Click here
  
  
• Japan, Tokyo: Combined domestic shipments of beer and "happoshu" low-malt beer by Japan's five major brewers fell 2.6% in November 2004 ... Click here
  
  
• Greece: Scottish & Newcastle announced on December 12 it has agreed to acquire 21.5% of the shares of Mythos SA from its joint venture partner Boutari Holdings ... Click here
  
  
• World malt: The mood of the EU malting industry is not good ... Click here
  
  
• EU: Maltsters and grain growers have met to discuss the possible effects of the European Union’s common agricultural policy change on cereal supplies ... Click here
  
  
• Australia: ABB Grain Ltd announced on December 09 it is bringing forward the promised A$5/t premium for deliveries of malting 1 quality Baudin barley for the 2004/05 season ... Click here
  
  
• Mercosur: Harvest of barley is finished in Parana, approaching its end in Rio Grande do Sul ... Click here
  
  
• South Africa: 300,000 tonnes of malting barley of good quality were harvested ... Click here
  
  
• Ukraine exported 2.77 million tonnes of 2004 crop barley since the beginning of 2004/05 ... Click here
  
  

• Peru: Peru's only brewer, Union de Cervecerias Backus & Johnston, has approved terms for swapping its Class B and investment shares for a new class of nonvoting preference stock ...more info



• Japan, Tokyo: Kirin Brewery Co. plans to modify the flavor and packaging of its Tanrei low-malt beer between January and February ...more info



• Russia: East European brewer Efes Breweries International NV (EBI), the London-listed firm, 70 % owned by Turkey's leading brewer Anadulo Efes, expects the Russian beer market to grow 8-9 % ...more info



• Russia: InBev's Russian joint venture Sun Interbrew said that a new Russian law prohibiting the consumption of alcohol in some public places would have "some effect" on profits ...more info



• China: Dutch brewing giant, Heineken, expects its beer production in China to outpace its forecast for total market growth of 4-6 % per year in the coming years ...more info



• India, Mumbai: The Vijay Mallya-owned United Breweries Holdings will merge 11 group firms with itself. These firms are UB Networks (Bangalore) Pvt Ltd, The Asian Age (South) Ltd ...more info



• The Czech Republic has submitted a proposal to Brussels that ‘Czech Beer’ be given EU protection, writes Kim Hunter Gordon. The proposal follows the state’s victory in gaining EU protection ...more info



• United Kingdom: Scottish & Newcastle plc announced on December 8, 2004 that S&N Pub Enterprises (“S&NPE”), the leased Pub Company of Scottish Courage, has agreed a deal ...more info



• United Kingdom: SABMiller plc (“SABMiller”) announced on December 9, 2004 that its subsidiary, SAB Finance (Cayman Islands) Limited (the “Issuer”), is exercising its right to call for the redemption ...more info



• Canada: Draught beer sales dropped 14% in October across Canada, especially in Nova Scotia, Ontario and in New Brunswick. Industry analysts are blaming everything from the NHL lockout to smoking ...more info



• Australia: ABB Grain Ltd said on December 8 it has lifted its Victorian malting barley pool gross indicators by A$8/t to A$190-200/t for malting 1 barley in the No.1 pool ...more info



• Russia: A quiet revolution is taking place in Russia - beer has surpassed vodka as the favorite alcoholic beverage. According to a recent survey conducted by the All-Russian Public Opinion ...more info



• India, Bangalore: The Belgian beermaker InBev, the world's largest brewer by volume, and the British Scottish & Newcastle (S&N) are the two global brewing giants fighting for a stake ...more info



• United Kingdom: Hundreds of brewery workers who produce top-selling brands such as Stella Artois are to be balloted on industrial action in a row over bargaining rights ...more info



• United Kingdom: British regional brewer and pubs company Greene King Plc, which brews Greene King IPA, Old Speckled Hen and Abbot Ale beers and runs over 2,100 pubs largely ...more info



• Russia: Russia's upper house of parliament on Wednesday, December 08, 2004 passed a tougher version of a bill controlling public beer sales and consumption after rejecting the original last month ...more info



• Vietnam: Saigon Beer, Alcohol and Beverages Corporation (SABECO) and Anheuser-Busch International, Inc., signed on December 5 a Memorandum of Understanding (MOU) for cooperation and experience sharing in the beer business ...more info

Canada: Molson Inc. and Adolph Coors Co. plan to hold votes on their $3.4 billion merger to create the world's fifth-biggest brewer on January 19, 2005...more info

China, Beijing: China Resources Breweries, a subsidiary of China Resources Enterprise, Limited and a joint venture with SABMiller plc., has set up a 220 million yuan brewery together with Xiling Brewery...more info

Mexico: The powerful Mexican brewing industry could change its face in the next five years, because of the increasing competition of the global brands...more info

France: Beer sales in France will register a fall between 5% and 7% in 2004, compared to the previous year, according to Olivier Picot, the chairman of the French Brewers Association...more info

Japan, Tokyo: Combined domestic shipments of beer and "happoshu" low-malt beer by Japan's five major brewers fell 2.6% in November 2004 compared to November 2003...more info

Greece: Scottish & Newcastle announced on December 12 it has agreed to acquire 21.5% of the shares of Mythos SA from its joint venture partner Boutari Holdings...more info

Malt News

World malt: The mood of the EU malting industry is not good, market analysts have recently commented. The industry suffers from an overcapacity in the whole of Europe...more info

EU: Maltsters and grain growers have met to discuss the possible effects of the European Union’s common agricultural policy change on cereal supplies, Business Scotsman revealed on December 9. Effectively, farmers’ union leaders asked the Maltsters Association of Great Britain to give "clear and positive" price signals to farmers who, from next year, do not have to grow grain to get a single farm payment. David Houghton, NFU Scotland’s combinable crops chairman, said on December 8 that their case has been given added weight by a forecast 20 % drop in England’s winter barley area. There could be a similar slump in Scotland if malting prices stay low. Houghton said that maltsters shared farmers’ concerns: "They, too, face price pressure further up the chain. But they can do what farmers can’t and pass their costs down. If we don’t receive a price that reflects production costs and allows for reinvestment, what do we gain by another year of cereal growing?”

Australia: ABB Grain Ltd announced on December 09 it is bringing forward the promised A$5/t premium for deliveries of malting 1 quality Baudin barley for the 2004/05 season...more info

Barley News

Mercosur: Harvest of barley is finished in Parana, approaching its end in Rio Grande do Sul. It just started in Uruguay, not yet in Argentina...more info

South Africa: 300,000 tonnes of malting barley of good quality were harvested. SAM, the only maltster, will use 220,000 tonnes and import another 60-70,000 tonnes for its total needs of 280,000 tonnes. Recent barley imports were 75,000 tonnes from North America and France.

Ukraine exported 2.77 million tonnes of 2004 crop barley since the beginning of 2004/05 MY (July) until December 8, 2004, according to figures revealed by Ukraine's State Customs Service...more info

Theoretical malt prices.

* - 70/30 = 70% Average two Rows Spring and 30% Six Rows Winter
** - 50/50 = 50% Average two Rows Spring and 50% Six Rows Winter

Theoretical malt prices for crop 2005 are available on site www.e-malt.com/MarketPrices

Malt Price Evolution

	Maximum average price for 2RS Malt, crop 2004: 270.50 EUR/tonne - in December 2003
	Minimum average price for 2RS Malt, crop 2004: 237.50 EUR/tonne - in September 2004
	Maximum average price for 6RW Malt, crop 2004: 252.50 EUR/tonne - in December 2003
	Minimum average price for 6RW Malt, crop 2004: 225.00 EUR/tonne - in October 2004

Source: E-malt.com

Malting barley prices. French barley prices.

Nominal prices.

nq - Not quoted Prices for Danish and UK malting barley are available on site www.e-malt.com/MarketPrices

Table of the week

EU malt export licence fixations: Graph of the week Canada Malt Exports in 2003 Agenda November 2004: World Brewing Academy Applied Brewing Techniques. Munich, Germany; World Brewing Academy Concise Course in Brewing Technology. Chicago, Illinois, United States; INTERNATIONAL EXH FOR FOOD & DRINK INDUSTRY / WORLD FOOD UKRAINE 2004; INT'L EXH OF WINES, ALCOHOLIC & NON ALCOHOLIC DRINKS & PROTECTION EQUIPMENT / EXPO DRINK 2004. Romania; TALLINN FOODFEST 2004; Belgian Beer Fest, Boston MA; Teach a Friend to Brew Day; FOOD PROCESSING MACHINERY EXPO 2004; FISPAL RECIFE 2004 / INTERNATIONAL FOOD FAIR. Brazil.; BRAU Beviale 2004. Nürnberg, Germany.; Brewers' Association of America Conference; Fall Fest-Of-Ale. Janesville, Wisconsin, United States; Accrington Beer Festival. UK; FOODAPEST 2004. 7th International Food, Drink and Food Processing Trade Fair; INTERNATIONAL EXH FOR FOOD INGREDIENTS, ADDITIVES & FLAVOURINGS / INGREDIENTS RUSSIA 2004; BELPRODUKT International Exhibition for Food and Beverages. Minsk, Belarus ; December 2004: FOODEX Food, Beverages and Food Technologies Fair. Ankara, Turkey; Eten & Genieten Food, Beverages and Kitchen Supplies Exhibition. Amsterdam, Netherlands; Americas Food & beverage Show and Conference; Holiday Ale Festival; Sint Niklaas Visits Brewery Ommegang; IWEX 2004; WORLD OF FOOD INDIA 2004; KerstBierFestival 10th edition! Belgium; VIETFOOD & DRINK 2004 / 3RD INTERNATIONAL EXH ON FOOD AND DRINK; January 2005: Big Beers, Belgians & Barleywines Festival. Vail CO; 35th Barley Improvement Conference. The American Malting Barley Association; VIETFOOD (HANOI) 2005; Atlanta Cask Ale Tasting; More events are available on site e-malt.com