Newsletter Summary
Currency rates
Equities of largest breweries
Market prices change trend
Brewery news
Malt news
Barley news
More news
Theoretical malt prices
Malting barley prices
Table of the week
Graph of the week
On These Days
Agenda
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Newsletter 15a, 2007
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E-malt.com Newsletter 17b
April 26 - April 29, 2007
Quote of the week
"Success consists of going from failure to failure without loss of enthusiasm. "
Winston Churchill
 Currency Rates 
Base Currency: Euro, EUR
on 27-April-2007
1 EUR = 1.3626 USD
1 EUR = 0.6818 GBP
1 EUR = 1.5226 CAD
1 EUR = 1.64 AUD
1 EUR = 162.183 JPY
1 EUR = 2.7595 BRL
1 EUR = 35.0484 RUB
1 EUR = 10.5395 CNY
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Base Currency: US Dollar
on 27-April-2007
1 USD = 0.7339 EUR
1 USD = 0.5004 GBP
1 USD = 1.1174 CAD
1 USD = 1.2036 AUD
1 USD = 119.034 JPY
1 USD = 2.0251 BRL
1 USD = 25.7207 RUB
1 USD = 7.7346 CNY
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EUR/USD Chart
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Equities of the Largest Breweries
Top Industry News
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USA: Heineken and FEMSA sign ten-year import agreement for U.S.A....
Click here
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Hungary: Hungarian Supreme Court allows Anheuser-Busch to sell “Bud”...
Click here
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Russia: State Duma approved the beer tax raise...
Click here
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USA: Anheuser-Busch raises 2007 capital spending estimates to $950 mil from $900 mil...
Click here
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Chile: CCU reports consolidated 1st Quarter 2007 results...
Click here
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World: Malt stock reduction in many breweries must have been substantial...
Click here
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World: A decline in feed barley use for 2007/08 will be recovered by malting industry in the EU and growing demand for beer in China...
Click here
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USA: North Dakota would become the largest barley state again...
Click here
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 More News
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EU: The discussion around grains and oilseeds for bio-energy is heating up
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More Info
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UK: Scottish & Newcastle announced encouraging start of the year
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More Info
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Czech Republic: Budvar reports 5.5% increase in production and record exports in 2006
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More Info
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Russia: Baltika is restyling brands aiming to become leader in all price segments
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More Info
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Czech Republic & China: Černá Hora brewery plans expansion to China
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More Info
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Canada: CWB blames stronger Canadian dollar for weaker results
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More Info
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USA: Pittsburgh Brewing Acquisition's reorganization plan approved
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More Info
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Czech Republic: Pardál beer sales surpassed all expectations
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More Info
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USA: Granite City Food & Brewery Ltd. to announce 1Q financial results on May 3, 2007
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More Info
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USA: Farm bill proposal unfair to barley producers
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More Info
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USA: Scientists revealed the formula for a perfect beer pint
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More Info
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Denmark: Carlsberg Foundation intends to hold at least 51% of the votes and more than 25% of the share capital
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More Info
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Canada: Lakeport Brewing re-launches Brava brand
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More Info
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Turkey: Efes Beverage Group announces dividend distribution
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More Info
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Australia: ABB Grain Community Fund is launched
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More Info
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India: Associated Alcohols and Breweries Ltd announced 6% decline in net profit
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More Info
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India: United Breweries announces 37% increase in net profit
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More Info
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 Brewery News
USA: Heineken and FEMSA sign ten-year import agreement for U.S.A.
Heineken N.V. and Fomento Económico Mexicano, S.A.B. de C.V. (“FEMSA”) announced
that Heineken USA and FEMSA Cerveza have extended their existing three-year relationship
in the United States for a period of ten years, according to Heneken’s press release,
April 26. Heineken will continue to be sole and exclusive importer, marketer and
seller of the FEMSA beer brands, Dos Equis, Tecate, Tecate Light, Sol, Bohemia and
Carta Blanca, in the U.S.A.
The agreement will become effective 1 January
2008 and will run until 31 December 2017. The new agreement sets the conditions for
strong volume growth and brand development driven by increased marketing investment
while providing attractive business and economic terms for both companies. Heineken
will receive an increased share of the profitability while FEMSA will receive a payment
for the exclusive distribution rights.
Massimo von Wunster, Heineken N.V.
Regional President of the Americas commented: “The relationship with FEMSA has been
very successful for both companies. Our volume growth in the U.S.A. has significantly
accelerated as a result of the powerful combination of Heineken’s Dutch and FEMSA’s
Mexican beer brands. This new agreement will enable us to further increase our market
share in the high-margin import segment in the U.S.A.”
Luis
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More Info
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Hungary: Hungarian Supreme Court allows Anheuser-Busch to sell “Bud”
Anheuser-Busch Cos. convinced the Hungarian Supreme Court to cancel a rival’s
right to sell "Bud" beer in Hungary, the St. Louis brewer announced April 26
in a press release.
The decision clears the way for A-B to claim exclusive
rights to the Bud name in Hungary, a small but growing beer market. Also, an Egyptian
court struck down a competitors rights to sell "Budweiser Budvar," strengthening
A-B’s hold on the Budweiser name in Egypt, which it has held for 67 years.
The
victories for Anheuser-Busch, the largest brewer in the U.S., are part of a nearly
century-old international tug of war over the rights to "Bud" and "Budweiser." They
came at the expense of Budejovicky Budvar, a brewer in the Czech Republic that has
wrestled A-B over naming rights in dozens of countries.
The decision in
Hungary, a central European nation of 10 million, "represents a significant expansion
of our broad trademark rights in Europe," Tom Santel, president and chief executive
officer of Anheuser-Busch International, said in a statement. "The ability to sell
our flagship brand under the Bud name in Hungary positively will impact our business
in this growing European beer market."
The appellation of origin dispute
in Hungary runs
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More Info
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Russia: State Duma approved the beer tax raise
State Duma deputies backed a bill Wednesday to raise the beer tax by half
as President Vladimir Putin seeks to curb alcohol abuse, blaming it for a shrinking
population, The Moscow Times published April 26.
The Duma approved the draft
bill in a second of three required readings Wednesday, the Duma said on its web site.
The tax will rise in increments to 3.09 rubles (12 cents) per liter in 2010 from
2.07 rubles now, the Russian Brewers Union said.
Putin has repeatedly urged
Russians to curb drinking, saying alcohol abuse is a key reason the male life expectancy
is one of Europe's lowest and the population of 143 million is falling by 700,000
per year.
The country's $3.4 billion beer market has been one of the world's
fastest growing this decade, reaching $3.4 billion in sales last year, behind only
the United States and China.
The Russian Brewers Union opposes the bill,
saying higher taxes will not reduce alcohol consumption and may even be a health
danger.
Beer companies will raise prices to offset the tax rise, forcing
low-income drinkers to switch to cheaper, stronger and lower-quality beverages, such
as bootleg vodka. Tainted homemade spirits kill thousands of Russians every year.
"Pricing is
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More Info
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USA: Anheuser-Busch raises 2007 capital spending estimates to $950 mil from $900 mil
Anheuser-Busch raised its 2007 capital spending estimate to $950 million from
$900 million, primarily for the construction of its new brewery in China, MarketWatch
reported April 25.
Once completed, the facility will make 15 breweries in
China owned and operated by the St. Louis-based company, Chief Financial Officer
Randolph Baker said in a conference call with analysts and investors.
In
the U.S., Anheuser-Busch continues to integrate brands from its partnership with
Modelo Group into its distribution network, Baker said. He also confirmed there was
some related disruption and confusion in the first quarter, such as issues on how
to replenish import inventory more quickly.
Equity income, such as that
derived from its partnerships, is expected to grow more than 20% in the 2007, Baker
said, adding operating cash flow is expected to increase for the year.
For the
first quarter, equity income increased $37 million, primarily due to the improved
Modelo Group earnings, and includes a one-time $17 million benefit form the return
of an advertising fund.
Elsewhere in 2007, revenue-per-barrel should increase
3% to 4%, primarily from its trademark names, while the cost-of-goods per barrel
is expected to jump 4% to 5%, Baker said. Those estimates include the contribution
of
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More Info
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Chile: CCU reports consolidated 1st Quarter 2007 results
CCU announced its consolidated financial results, stated in Chilean GAAP for the
first quarter 2007, in its press release, April 26. All US$ figures are based
on the exchange rate effective March 31, 2007.
COMMENTS FROM THE CEO
We
are very pleased with the results obtained during the first quarter of 2007. Consolidated
volumes increased 8.0%, revenues grew 11.7%, operating income increased 26.6%, net
income grew 21.5% and EBITDA increased 19.1%. These good results are attributable
to a better performance in all of our business segments during the quarter, as a
consequence of strong volumes, margins and a controlled cost structure.
Q1’07
Results
The Chilean beer segment had a good performance during this period,
with 17.5% higher operating income, mainly explained by volumes and prices that increased
5.9% and 3.5%, respectively. The Argentine beer business grew its revenues by 26.9%
and operating income by 38.9%, mainly due to 13.5% volume growth and 11.1% higher
prices during the quarter.
Prices increased due to a higher mix of premium
products, such as Heineken and Budweiser and one-way packaging, in addition to a
price increase of approximately 4% carried out in January. During that month we also
began with the production of Schneider done by
...
More Info
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Malt News
 Barley News
World: A decline in feed barley use for 2007/08 will be recovered by malting industry in the EU and growing demand for beer in China
World barley production 2007/2008 is forecast by IGC to rise by 10m. tons,
to 150m., with bigger crops in the EU, Canada and Australia, according IGC Grain
Market Report from 26 April, 2007.
Total barley use in 2007/08 is projected
to decrease by 1m. tons, to 146m. A decline in feed use as wheat becomes more competitive
in feed markets, particularly in the EU, will be partly balanced by increased industrial
use, with a recovery in the malting industry in the EU and growing demand for beer
in China.
Underpinned by strong feed demand from Near East Asia, and better
malting barley supplies in leading exporting countries, world barley trade is expected
to recover by 2m. tons, to 17.6m.
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USA: Barley markets remain steady
Barley prices for the most part of the last couple of weeks remained steady
on both the feed and malting side of the ledger, Farm & Ranch Guide published April
26.
However, even though malting prices will probably continue on at fairly
consistent level in coming weeks, Randy Brag from Valley Grain Services in Casselton,
looks for a little softening in the feed barley side of things.
“Feed barley
prices slid back a little bit after the planting intentions report and then perked
up a little again, slid back again and now have picked up again,” Brag said. “But
the deferred bids indicate that feed barley will decline slightly during the next
few months until probably August - mainly due to the fact that we will have a new
supply of barley coming at that time.
“The deferred bids at this time are
about $2.85 railside, which would be $2.65 to the farmer,” he continued. “And that's
not a terrible price, there was probably a time when a farmer could have contracted
as high as $2.80, but the $2.65 is a good level.”
The 18 percent hike in
planned barley acres in North Dakota for the upcoming crop season didn't astonish
Brag, since he
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More Info
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Malting barley prices. French barley prices.
Nominal prices.
| EURO = USD 1.3626 April 27, 2007 |
| Crop year |
2006 |
2007 |
| Parity |
FOB Creil |
FOB Creil |
| Position |
July 2006 |
July 2007 |
| Type |
Variety |
EURO |
USD |
EURO |
USD |
| 2RS |
Scarlett |
207.00 |
282.50 |
197.00 |
268.50 |
| 2RS |
Prestige |
206.00 |
281.00 |
196.00 |
267.50 |
| 2RS |
Cellar |
205.00 |
279.50 |
195.00 |
266.00 |
| 2RS |
Sebastien |
204.00 |
278.00 |
194.00 |
264.50 |
| 2RS |
Astoria |
204.00 |
278.00 |
194.00 |
264.50 |
| 2RS |
Cork |
204.00 |
278.00 |
194.00 |
264.50 |
| 6RW |
Esterel |
175.00 |
238.50 |
171.00 |
233.50 |
Theoretical malt prices.
| EURO = USD 1.3626 April 27, 2007 |
| Crop year |
2006 |
| Parity |
FOB Antwerp |
| Position |
Apr 2007-Sept 2007 |
| Conditioning |
Bulk |
In bags |
Bulk containers |
Bags, containers |
| Malting barley variety |
EURO |
USD |
EURO |
USD |
EURO |
USD |
EURO |
USD |
| 2RS |
Scarlett |
427.50 |
582.50 |
450.50 |
613.50 |
444.50 |
605.50 |
455.00 |
619.50 |
| 2RS |
Prestige |
426.50 |
581.00 |
449.50 |
612.00 |
443.00 |
603.50 |
453.50 |
618.00 |
| 2RS |
Cellar |
425.50 |
579.50 |
448.00 |
610.50 |
442.00 |
602.00 |
452.50 |
616.50 |
| 2RS |
Sebastien |
424.00 |
577.50 |
447.00 |
608.50 |
440.50 |
600.50 |
451.00 |
614.50 |
| 2RS |
Astoria |
424.00 |
577.50 |
447.00 |
608.50 |
440.50 |
600.50 |
451.00 |
614.50 |
| 2RS |
Cork |
424.00 |
577.50 |
447.00 |
608.50 |
440.50 |
600.50 |
451.00 |
614.50 |
| 2RS |
Average price |
425.50 |
579.50 |
448.00 |
610.50 |
442.00 |
602.00 |
452.50 |
616.50 |
| 6RW |
Esterel |
387.50 |
529.00 |
411.00 |
560.00 |
405.00 |
551.50 |
415.50 |
566.00 |
| * |
Asia Malt 70/30 |
414.00 |
564.50 |
437.00 |
595.50 |
430.50 |
587.00 |
441.50 |
601.50 |
| ** |
Asia Malt 50/50 |
407.00 |
554.50 |
429.50 |
585.50 |
423.50 |
577.00 |
434.00 |
591.50 |
| EURO = USD 1.3626 April 27, 2007 |
| Crop year |
2007 |
| Parity |
FOB Antwerp |
| Position |
Oct 2007-Sept 2008 |
| Conditioning |
Bulk |
In bags |
Bulk containers |
Bags, containers |
| Malting barley variety |
EURO |
USD |
EURO |
USD |
EURO |
USD |
EURO |
USD |
| 2RS |
Scarlett |
395.00 |
538.00 |
417.50 |
569.00 |
411.50 |
560.50 |
422.00 |
575.00 |
| 2RS |
Prestige |
393.50 |
536.50 |
416.50 |
567.50 |
410.50 |
559.00 |
421.00 |
573.50 |
| 2RS |
Cellar |
392.50 |
534.50 |
415.50 |
566.00 |
409.00 |
557.50 |
419.50 |
571.50 |
| 2RS |
Sebastien |
391.50 |
533.00 |
414.00 |
564.00 |
408.00 |
555.50 |
418.50 |
570.00 |
| 2RS |
Astoria |
391.50 |
533.00 |
414.00 |
564.00 |
408.00 |
555.50 |
418.50 |
570.00 |
| 2RS |
Cork |
391.50 |
533.00 |
414.00 |
564.00 |
408.00 |
555.50 |
418.50 |
570.00 |
| 2RS |
Average price |
392.50 |
534.50 |
415.50 |
566.00 |
409.00 |
557.50 |
419.50 |
571.50 |
| 6RW |
Esterel |
362.00 |
494.50 |
385.50 |
525.50 |
379.50 |
517.00 |
390.00 |
531.50 |
| * |
Asia Malt 70/30 |
383.50 |
522.50 |
196.00 |
553.50 |
189.50 |
545.50 |
200.50 |
559.50 |
| ** |
Asia Malt 50/50 |
377.50 |
514.50 |
196.00 |
545.50 |
189.50 |
537.50 |
200.50 |
551.50 |
NB: Prices published are theoretical malt prices including financial cost,
THC (for bulk and bags container) and all administrative costs.
This prices may fluctuate according to the quantity per delivery and technical specifications.
* - 70/30 = 70% Average two Rows Spring and 30% Six Rows Winter
** - 50/50 = 50% Average two Rows Spring and 50% Six Rows Winter
Table of the week
EU Malt Export Licence Fixations
| (in tonnes) |
2001-2002 |
2002-2003 |
2003-2004 |
2004-2005 |
2005-2006 |
July 01, 2006 -
Mar 27, 2007 |
| France |
701,134 |
661,772 |
774,761 |
674,140 |
648,338 |
405,814 |
| Germany |
468,314 |
408,063 |
422,047 |
295,876 |
236,735 |
158,784 |
| Belgium |
296,368 |
287,850 |
317,292 |
418,344 |
551,396 |
393,887 |
| Bulgaria |
- |
- |
- |
- |
- |
1,090 |
| U.K. |
350,621 |
294,995 |
443,501 |
201,892 |
190,862 |
94,356 |
| Finland |
91,890 |
100,758 |
114,165 |
64,986 |
79,357 |
37,654 |
| Denmark |
96,812 |
94,791 |
90,452 |
74,743 |
68,809 |
47,028 |
| Sweden |
101,000 |
76,916 |
78,369 |
88,840 |
96,100 |
61,950 |
| Netherlands |
51,310 |
66,219 |
80,703 |
49,128 |
92,383 |
55,950 |
| Ireland |
35,145 |
31,140 |
38,900 |
56,924 |
7,001 |
2,250 |
| Austria |
8,840 |
8,620 |
60,211 |
16,954 |
38,932 |
18,144 |
| Spain |
2,400 |
5,640 |
10,000 |
- |
- |
- |
| Greece |
1,744 |
1,306 |
979 |
130 |
- |
- |
| Portugal |
221 |
85 |
695 |
850 |
1,088 |
689 |
| Czech Republic |
|
|
34,340 |
82,062 |
77,036 |
33,768 |
| Poland |
|
|
7,604 |
32,084 |
167 |
- |
| Hungary |
|
|
2,830 |
85,792 |
16,865 |
1,917 |
| Slovakia |
|
|
1,000 |
76,916 |
75,863 |
20,030 |
| Lithuania |
|
|
- |
- |
54 |
52 |
| Total EU |
2,205,799 |
2,038,157 |
2,477,849 |
2,219,661 |
2,180,986 |
1,332,943 |
| |
Total Wheat malt, tonnes |
| Total 2001 - 2002 |
12,805 |
| Total 2002 - 2003 |
30,908 |
| Total 2003 - 2004 |
15,768 |
| Total 2004 - 2005 |
8,162 |
| Total 2005 - 2006 |
4,693 |
| July 01, 2006 - March 27, 2007 |
3,302 |
| |
|
| |
Total Roasted malt, tonnes |
| Total 2001 - 2002 |
23,480 |
| Total 2002 - 2003 |
23,603 |
| Total 2003 - 2004 |
24,438 |
| Total 2004 - 2005 |
27,212 |
| Total 2005 - 2006 |
23,257 |
| July 01, 2005 - March 27, 2007 |
21,092 |
Graph of the week
These Days in Business History
April 26
1755 1st Russian university opens (Moscow)
1887 Huntsville Electric Co forms to sell electricity
1904 Bell Telephone Company of Antwerp Belgium forms
April 27
1914 W. H. Carrier patents air conditioner
1925 Netherlands and Great Britain return to gold standard
2005 Airbus A380 makes its first flight from Toulouse, France
April 28
1686 1st volume of Isaac Newton's "Principia" published
1989 Argentina, hit by rocketing inflation, runs out of money
2001 Dennis Tito becomes the first space tourist by paying $20 million to fly on a Soyuz mission to the International Space Station.
April 29
1813 Rubber is patented
1913 Swedish engineer Gideon Sundback of Hoboken patents all-purpose zipper
1977 British Aerospace forms
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Agenda
April 2007:
InterFood St. Petersburg
15th Annual International Beer Festival, USA.
The International Hop Growers’ Convention (IHGC) Meetings, France.
24th ANNUAL INTERNATIONAL BEER FESTIVAL SAN FRANCISCO
May 2007:
European Grain & Oilseed Convention 2007, Brussels
31-st International Congress of the European Brewery Convention , Italy
Hofex - 2007, China
InterFood Azerbaijan 13th Azerbaijan International Food Industry and Agriculture Exhibition
InterFood Astana , Kazakhstan, 9th Astana International Exhibition for Food, Beverages, Technologies
June 2007:
Japan-Asia Beer Cup 2007, Tokyo
InterFood Mongolia
IGC Grains Conference 2007 London, England
Great Japan Beer Festival 2007 in Tokyo
Brasil Brau 2007
The International Hop Growers’ Convention(IHGC)
Practical Course on Malt and Malting Barley Canada
The 5th Canadian Barley Symposium & District Western Canada MBAA
Seattle International Beer Festival
More events are available on site e-malt.com
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