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Newsletter Summary

Currency rates
Brewery news
Malt news
Barley news
More news
Theoretical malt prices
Malting barley prices
Table of the week
Graph of the week
Agenda
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Average market prices Change trend

Wednesday, 02 February 2005
Crop 2004
2rs Barley €108.0     
6rw Barley €100.5     
2rs Malt €239.5     
6rw Malt €230.5     
Crop 2005
2rs Barley €118.0     
6rw Barley €104.5     
2rs Malt €249.5     
6rw Malt €233.0     

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 market prices are estimated on FOB Antwerp basis.
The changes are compared to last Newsletter's prices.
Arrows indicate the direction of the change.


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Last five E-malt Flashes

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Flash 04b, 2005

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Flash 04a, 2005

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Flash 03b, 2005

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Flash 03a, 2005

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Flash 02b, 2005



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Malt Market Price Evolution. Crop 2004

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French Malting Barley Price Evolution. Crop 2004

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Malt Market Price Evolution. Crop 2003

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French Malting Barley Price Evolution. Crop 2003


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Globally Beer Leading Companies by Sales Volumes in 2003

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Vietnam Beer Production



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Canada's per capita consumption of beer


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Excise Duties in European Countries 2004

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United States Beer Market in 2003

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French Barley Supply and Demand



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E-malt.com Flash 05a
January 31 - February 02, 2005

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Currency Rates
Base Currency: Euro, EUR
on 02-February-2005

1 EUR = 1.3046 USD
1 EUR = 0.6928 GBP
1 EUR = 1.6130 CAD
1 EUR = 1.6842 AUD
1 EUR = 135.26 JPY
1 EUR = 3.4017 BRL
1 EUR = 36.5027 RUB
1 EUR = 10.8106 CNY
Base Currency: US Dollar
on 02-February-2005

1 USD = 0.7667 EUR
1 USD = 0.5310 GBP
1 USD = 1.2364 CAD
1 USD = 1.2910 AUD
1 USD = 103.68 JPY
1 USD = 2.6075 BRL
1 USD = 27.98 RUB
1 USD = 8.2865 CNY

EUR/USD Chart
Top Industry News
  • USA: Adolph Coors Company announced on February 1 that at a special meeting of its stockholders on Tuesday, all of the steps necessary to complete the Company's merger with Molson Inc. were approved ... Click here

  • Russia: InBev announced on January 31 the closings of the amended transaction with SUN Trade (International) Ltd, whereby InBev purchased all of SUN Trade’s holding of voting and non-voting shares in SUN Interbrew Ltd., announced on Jan 10th ... Click here

  • Japan, Tokyo: Asahi Breweries Ltd. announced on February 2 that it will launch a beer-like alcoholic beverage subject on April 20 to lower liquor taxes for which retailers will be able to set lower prices ... Click here

  • Philippines, Manila: Philippine brewers raised prices of beer on February 2 by 14%, or as much as PHP2 a bottle to recoup additional production costs and to cover an increase in taxes ... Click here

  • Hong Kong: Heineken NV bought 100,000 shares at 2.80-2.85 hkd each in Kingway Brewery Holdings Ltd ... Click here

  • Bulgaria: The annual beer consumption in Bulgaria has reached 61 litres per capita last year, versus 55 litres in 2003 ... Click here

  • Malt Market December-January: Malt business in December/January was very limited ... Click here

  • Russia embargoes imports of plant products (including barley and malt) from Denmark, Estonia, Germany and the Netherlands ... Click here

  • Canada: For 2005-2005 Canada barley production is estimated by Statistics Canada to increase by 7% due to higher yields, despite lower seeded area ... Click here

  • The EU malting industry seems to be covered quite well, market analysts commented on January 28. There remain ample stocks of spring and winter barley in France ... Click here

  • World barley production in 2005-2006 is expected to decrease to 145 million tonnes from 151 million tonnes in 2004-2005 ... Click here

More News
  • USA: Ingram's La Vergne-based DBI Beverage Distributors announced on January 31 its acquisition of the San Francisco-area's biggest beer distributor, Golden Brands Beverage Distributors, a supplier of Coors, Miller, Corona ...more info


  • Spain: The greenfield brewery of Cruzcampo, Seville/Spain will get a brewhouse from Huppmann, the company announced on January 28. Officially called "Jumbo project" because of its size, this completely new ...more info


  • France: Mr. Alain Le Floch, 47 years, Ingénieur Arts et Métiers, was named General manager of Malteurop. Mr. Le Floch comes from Cadbury-Schweppes. Mr. Daniel Huvet is named General manager ...more info


  • United Kingdom: Farmers who sowed winter malting barley would lose an estimated £14/ha because strong world supply has weighed on prices, said Stuart Shand, retail and malting barley director ...more info


  • Germany, Berlin: German food company Dr Oetker is planning to close one of Berlin's oldest breweries, the Kindl, and a brewery in Dortmund, western Germany, Brinkhoff, as part of new ...more info


  • Japan: Retail prices of beer and happoshu low-malt alcoholic products have risen gradually since the beginning of the year. The price hikes are a result of a move by the ...more info


  • India, Bangalore: United Breweries Ltd, the country's biggest brewer, announced it is in talks to acquire the brewery division of the Chennai-based Balaji Distilleries Ltd, The Hindu Business Line posted ...more info


  • USA: Miller Brewing Co. announced on January 28 it applauded Anheuser-Busch’s formal announcement that it will nationally roll out a new Budweiser on February 21. Called “Budweiser Select,” the new ...more info


  • USA, Oregon: Kona Brewing Co., which will mark its 10th anniversary this month, announced its production has now gone well over the 1.5 million gallon mark ...more info


  • USA: Newly merged, Molson Coors, promises to create $175 million in cost savings within four years. In addition, the companies say the deal would give the company the financial clout ...more info


  • Australia: ABB Grain Ltd announced on January 31 it has lifted its 2004/05 South Australian malting 1 barley gross pool indicator by A$10/t to A$210-220/t (A$5/t premium for Sloop and ...more info


  • Canada: The Columbia Brewery announced the launch of a special series of Kokanee beer bottles designed to celebrate and promote British Columbia mountain resorts. Beginning in January, more than 12 ...more info


  • Canada: Shareholder approval of the merger between Adolph Coors Co. and Molson Inc. means that Ian Molson failed in his attempt to block the deal, Denver Post commented on January ...more info


  • United Kingdom, London: Greene King Plc, which operates over 2,000 U.K. pubs and brews Old Speckled Hen ale, announced on January 31 its beer sales increased by 2.2% in ...more info


Brewery News
USA: Adolph Coors Company announced on February 1 that at a special meeting of its stockholders on Tuesday, all of the steps necessary to complete the Company's merger with Molson Inc. were approved. All of the Company's Class A Common shares are held by the Adolph Coors, Jr. Trust and were voted in favor of the merger proposals. The Company's Class B Common shares are publicly held, and over 34.7 million of the outstanding shares were voted, with 33.5 million shares (92.4% of outstanding shares) voted in favor of the merger proposals. Before adjourning the meeting, Peter Coors, Chairman of the Board, commented "This is a momentous time for our Company. We are very appreciative of the support shown by our shareholders for the joining together of two great beer companies and traditions -- Coors and Molson." He added "Coors and Molson were both founded by bold pioneers in their own time and our family looks at this merger as a pioneering step in its own right." "We are extremely pleased that Coors shareholders recognize the compelling strategic and economic benefits of this merger," said Leo Kiely, chief executive officer of Coors. "We now expect to complete the transaction on February 9th, allowing us to quickly begin executing on the comprehensive integration plans we have been preparing. We are thankful for the support we've received from our shareholders, employees and customers, and are energized and confident as we move to capitalize on the great potential of this combination." As previously announced, the final approval from the Quebec Superior Court will be sought on February 2, 2005. The closing of the merger is expected to occur on February 9, 2005 prior to the opening of the stock markets in Canada and the U.S. Additionally, earnings information for both companies will be released on February 9, 2005. Together, Molson Inc. and Adolph Coors Company will form the fifth largest brewer in the world, with combined volume of 51 million barrels and pro-forma net sales of US$6 billion. The brewer will have a market capitalization of US$6 billion and a position of strength to become a future consolidator in the global brewing industry. It will have leading market share in Canada and in the U.K., a growth market in the U.S., and an emerging market in Brazil as well as a portfolio of well established brands such as Molson Canadian, Coors Light and Carling and other brands including Keystone, Aspen Edge, Zima, as well as Molson Ultra, Export, Molson Dry, Rickard's and Kaiser. Founded by pioneering families who are still active in the business and have deep roots in their respective countries, Molson Coors Brewing Company will have over 350 combined years of brewing excellence, 15 breweries and nearly 15,000 employees. Founded in 1873, Adolph Coors Company is the world's eighth-largest brewer, with $5.4 billion in annual gross sales. Its principal subsidiary is Coors Brewing Company, the third-largest brewer in the U.S., with a beverage portfolio that includes Coors Light, Coors, Aspen Edge, Killian's, Zima XXX and the Keystone family of brands. The company's operating unit in the United Kingdom, Coors Brewers Limited, is the U.K.'s second-largest brewer, with brands that include Carling -- the best-selling beer in the U.K. -- Grolsch, Worthington's, Reef and the recently launched Coors Fine Light Beer.

Russia: InBev announced on January 31 the closings of the amended transaction with SUN Trade (International) Ltd, whereby InBev purchased all of SUN Trade’s holding of voting and non-voting shares in SUN Interbrew Ltd., announced on Jan 10th...more info

Japan, Tokyo: Asahi Breweries Ltd. announced on February 2 that it will launch a beer-like alcoholic beverage subject on April 20 to lower liquor taxes for which retailers will be able to set lower prices, according to Kyodo News. Asahi Brewery will release Asahi Shin-Nama third-category beer, made of soy protein and containing no malt. The product's price is open, but is likely to be set around 120 yen per 350-ml can, about the same as the price of similar products offered by Sapporo and Suntory. Asahi aims for annual sales of 22 million cases of the new product by December 31, 2005. One case holds 12.66 liters, or the equivalent of 20 633-ml bottles. That would account for about 10% of Asahi's targeted beer sales this year. For 2005, Asahi is aiming for a 2.9% rise in overall beer sales to 210 million cases. Asahi's senior managing director Masaaki Okada said, "We hope to obtain the top market share" in the beer-taste beverage product segment, which is often dubbed the "third beer" market. Sapporo Breweries Ltd. and Suntory Ltd. have already launched similar products in the so-called "third category" of beer. Kirin Brewery Co. plans to follow the suit by April. Sapporo Breweries Ltd., of Sapporo Holdings Ltd. (2501.TO), has had huge success since its February 2004 introduction of "Draft One." The product doesn't contain malt or wheat, so it is categorized as neither a regular beer nor a " happoshu" beer, freeing it from Japan's high taxes on beer. While Draft One carries a tax levy of Y24.20 per 350-milliliter can, a low- malt "happoshu" brew, which is already cheaper than regular beer, shoulders a much bigger liquor tax of Y46.99. Sales of "third beer" products, currently brewed by Sapporo and unlisted Suntory Ltd. (SNT.YY), made up about 5% of the entire beer market in 2004. With Asahi and Kirin Brewery Co. (2503.TO) set to join the fray this year, beer company officials expect that ratio to reach 10% or more for 2005. Suntory, which bottles and distributes PepsiCo Inc.'s (PEP) products in Japan, aims to boost its "Super Blue" sales to 10 million cases for 2005. Intensifying competition among major Japanese breweries may fuel discussion about the government's considering to overhaul the liquor tax system to raise the tax on the third-category beer. Prices of third-category beer products can be cheaper than conventional beer and "happoshu" low-malt beer products due to lower liquor taxes as they contain no malt. The taxes on such products are at least 50 yen lower than those on conventional beer products and 20 yen lower than on happoshu products per 350 milliliters.

Philippines, Manila: Philippine brewers raised prices of beer on February 2 by 14%, or as much as PHP2 a bottle to recoup additional production costs and to cover an increase in taxes, according to Dow Jones...more info

Hong Kong: Heineken NV bought 100,000 shares at 2.80-2.85 hkd each in Kingway Brewery Holdings Ltd, the Securities and Futures Commission (SFC) said on January 31...more info

Bulgaria: The annual beer consumption in Bulgaria has reached 61 litres per capita last year, versus 55 litres in 2003, local press announced on February 1. The total amount of beer consumed in Bulgaria was 473 million litres in 2004 compared to 294 million litres in 1997 and 425 million litres in 2003. Beer drinking is expected to see further boosting in the upcoming years, according to experts. Investments into the business have increased about 15 times over the last decade.

Malt News

Malt Market December-January: Malt business in December/January was very limited, analysts commented on January 28. Belgium and Holland purchased...more info

Russia embargoes imports of plant products (including barley and malt) from Denmark, Estonia, Germany and the Netherlands. Russia does not recognize Phytosanitary Certificates from these countries. One Russian request is to introduce a common EU certificate. Negotiations on EU and national levels to lift the ban promise partial results, but at the same time other countries namely: Belgium, Lithuania, Poland received warnings that they may be embargoed as well.

Barley News

Canada: For 2005-2005 Canada barley production is estimated by Statistics Canada to increase by 7% due to higher yields, despite lower seeded area, Agriculture and Agri-Food Canada (AAFC) posted on January 14...more info

The EU malting industry seems to be covered quite well, market analysts commented on January 28. There remain ample stocks of spring and winter barley in France...more info

World barley production in 2005-2006 is expected to decrease to 145 million tonnes from 151 million tonnes in 2004-2005, as lower production in Europe and North America more than offsets higher production in Australia, according to Agriculture and Agri-Food Canada (AAFC) comment from January 14. After two consecutive years of good harvesting, barley production in North Africa is expected to decrease. World barley supplies are projected to remain virtually unchanged from 2004-2005 at 172 million tonnes, as larger carry-in stocks offset lower production. However, world trade is forecast to decrease slightly due mainly to reduced exportable supplies in Europe. Strong import demand for feed barley in the Middle East and North Africa and higher import demand for malting barley in China and, to a lesser degree, in the US are expected to drive world barley prices up. Government water conservative programs in Saudi Arabia are expected to reduce irrigation of locally grown forage crops. This could have the potential of raising Saudi’s barley imports further. World carry-out stocks are expected to drop by 1 million tonnes from 2004-2005.

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

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
European barley crop estimate. Production forecast in thousand tonnes.

 Barley production in '000 tonnes

Spring barley  Total barley 
2003  2004  2003  2004 

EU-15 

 Austria  538  540  869  982 
   Denmark  3,010  2,887  3,777  3,634 
   Finland  1,671  1,748  1,671  1,748 
   France  3,973  3,691  9,818  10,944 
   Germany  3,606  3,372  10,601  12,963 
   Ireland  1,000  1,104  1,096  1,274 
   Belgium/Lux.  31  35  335  355 
   Netherlands  351  262  372  281 
   Spain  6,607  7,940  8,699  10,582 
   Sweden  1,517  1,638  1,547  1,699 
   UK  3,517  2,916  6,370  5,938 
   Italy      1,032  1,148 
   Greece      310  310 
   Portugal      10  16 
 TOTAL EU-15  25,821  26,133  46,507  51,874 

EU-10 

 Czech Republic 1,763  1,814  2,068  2,401 
   Hungary  380  600  825  1,472 
   Poland  2,603  2,852  2,833  3,500 
   Slovakia  682  778  832  984 
   Cyprus      79  92 
   Estonia  263 265  269  282 
   Latvia    224 221  269 
   Lithuania    863 756  863 
   Slovenia      28  29 
   Malta     
 TOTAL EU-10  5,691  7,396  7,914  9,895 

TOTAL EU-25 

31,512  33,529  54,421  61,769 

Europe Non-EU 

 Romania  340  350  540  839 
   Bulgaria  180  82  580  876 
   Serbia      230  279 
   Croatia      85  149 
   Bosnia      60  53 
   Macedonia      120  149 
   Albania      30  30 
TOTAL Europe Non-EU  520  432  1,645  2,375 
TOTAL EUROPE 31  32,032  33,961  56,066  64,144 

Source: Coceral, Brussels December 2004

Graph of the week

Agenda


February 2005:
Pianeta Birra - Beverage & Co. International Show of Beers, Beverages etc., Italy;
Seminaire orge de brasserie à Paris-Bagnolet;
Liqma International Beverage Industry Exhibition, Spain;
Canadian Food and Beverage Show;
GrainWorld 2005. Canada. CWB.;

March 2005:
Night of Great thirst, Belgium;
Zythos Beer Festival, Belgium;
Institute and Guild of Brewing Africa Section 10th Convention, South Africa;
International Food and Drink (IFE), UK;
Deltabierfestival, The Netherlands;
Spring Beer Festival "Hops on Equinox", Seattle;
Brew and Beverage Industry - Beer Auction International Trade Fair, Russia;
FOODEX JAPAN 2005 / INTERNATIONAL FOOD & BEVERAGE EXH;
China Drinktec China International Exhibition on Beverage, Brewery and Wine Technology;

April 2005:
Helsinki Beer Festival;
Concise Course in Brewing Technology;
World Barley, Malt & Beer Conference 2005;
BEER. Exhibition Pavilion Minsk.;
Craft Brewers Conference & BrewExpo America;
Classic City Brewfest, Athens, GA;
Excursion to West-Flanders;

More events are available on site e-malt.com

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