Newsletter Summary
Currency rates
Equities of largest breweries
Market prices change trend
Top industry news
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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E-malt.com Newsletter 23a June 04 - June 06, 2007
Quote of the week
"Men learn little from success, but much from failure."
Arabian Proverb
Currency Rates
Base Currency: Euro, EUR
on 06-June-2007
1 EUR = 1.3509 USD
1 EUR = 0.678 GBP
1 EUR = 1.431 CAD
1 EUR = 1.6159 AUD
1 EUR = 164.322 JPY
1 EUR = 2.6266 BRL
1 EUR = 34.9057 RUB
1 EUR = 10.338 CNY
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Base Currency: US Dollar
on 06-June-2007
1 USD = 0.7403 EUR
1 USD = 0.5019 GBP
1 USD = 1.0593 CAD
1 USD = 1.2211 AUD
1 USD = 121.644 JPY
1 USD = 1.9443 BRL
1 USD = 25.8383 RUB
1 USD = 7.6525 CNY
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EUR/USD Chart
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Equities of the Largest Breweries
Top Industry News
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Netherlands: Heineken to appeal against European Commission decision...
Click here
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Japan: Industry concerned over possible tax hike on new beerlike drinks...
Click here
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World: Big Brewers pour into emerging markets...
Click here
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Poland: Kompania Piwowarska brewery attacked via internet...
Click here
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USA: SABMiller says it's interested in Molson-Coors partnership...
Click here
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Russia: Russian beer ad breaks the law...
Click here
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EU: Maltsters continue to cover malt sales back to back in barley markets...
Click here
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Ireland: Malt recovery drives ingredients growth for Greencore...
Click here
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World: The latest malt market news and rumours...
Click here
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EU: Markets are firm, old and new crop prices are at the same level...
Click here
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Canada: Government pushed to move the introduction free market on barley to June 15th...
Click here
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More News
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Bulgaria: Bulgarian brewer Boliarka VT to boost output in 2007
...
More Info
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Canada: Molson does not see impact from Edmonton strike
...
More Info
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UK: Heineken reveals continental marketing campaign details
...
More Info
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China: Infront signs Zhujiang Brewery as the official beer of team China basketball
...
More Info
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UK: Changes in particulars of non-executive directors of SABMiller
...
More Info
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USA: Anheuser-Busch targeted for a shake-up
...
More Info
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Russia: No beer on City Day in Krasnoyarsk
...
More Info
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USA: New owners of Pittsburgh Brewing to take over July 7
...
More Info
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Canada: Labatt Brewery renews its partnership agreement with the Grand Prix of Canada until 2010
...
More Info
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UK: Brewer Young & Co announces a 18% rise in profits after brewery sale
...
More Info
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Colombia: SABMiller Plc Completes sale of Juice Business in Colombia
...
More Info
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India: Water pollution hits Andhra Pradesh division of United Breweries
...
More Info
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India: Cobra raises the bar winning 20 Monde Selection gold medals
...
More Info
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Germany: Local beer seeks profit from G8 summit
...
More Info
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Japan: Asahi Breweries, TOA unveil new tech to fight low-frequency noise
...
More Info
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Brewery News
Netherlands: Heineken to appeal against European Commission decision
Heineken N.V. announced it will file an appeal against the decision of the
European Commission for an alleged infringement of European Union anti trust law
between 1996 and 1999, according to company’s press release, June 1. The European
Commission issued the decision on April 18, 2007 following a seven-year process that
began in March 2000. Heineken received the full decision on April 25, 2007.
Having now studied the full decision in detail, it is clear that there remain
significant differences of interpretation and disagreement on some of the company’s
arguments. In particular, Heineken acknowledged in its original defence that various
meetings and contacts took place between the brewers, some of them nearly 12 years
ago. The European Commission though failed to accept Heineken’s assertion that these
meetings did not constitute a cartel. Heineken has in place a strong competition
compliance policy across the entire business and has a comprehensive code of business
conduct for all employees. Both processes are subject to annual review or audit,
and compliance to competition law is recognised as being an important business principle.
Given that the issues relating to the European Commission decision are now
part of a formal, legal process, Heineken will not
...
More Info
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Japan: Industry concerned over possible tax hike on new beerlike drinks
Major beer companies are currently introducing a so-called fourth-category beer,
creating a new competitive market for the beerlike alcoholic beverage, The Yomiuri
Shimbun reported June 5. While so-called third-category beer contains no
malt, fourth-category beer is a mixture of low-malt happoshu beer and barley-based
spirit, and is categorized as a liqueur under the Liquor Tax Law. The new
product is priced relatively low by taking advantage of a blind spot in the law.
However, beer companies are afraid the Finance Ministry might raise the tax if the
product proves popular. Although the new beverage uses less than 50 percent
malt--similar to happoshu low-malt beer--it will be taxed about 50 percent less under
the Liquor Tax Law, as it contains barley-based spirits. Previously, beer companies
have played a protracted tax-related game of cat and mouse with the Finance Ministry
after introducing new products, such as low-malt beers and third-category beers.
However, the ministry eventually increased taxes for the products. Some companies
are concerned the same thing may happen with the new beerlike drinks. Fourth-category
beer follows on the heels of third-category beer, which primarily uses peas as a
raw material and contains no beer or malt. Kirin Brewery Co. released Kirin
Ryoshitsu
...
More Info
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World: Big Brewers pour into emerging markets
Opportunities abound for brewers in developing markets, where consumption rates
are significantly lower than the more mature markets, Business Week published
June 4. The global average per capita consumption of beer is 22 liters per person,
far below the European average of 78 liters. Sustained economic growth, with rising
disposable income levels that foster greater consumer confidence, is and will remain
the primary factor for emerging markets to continue to increase consumption levels.
Latin America currently is a fast-growing market with exceptional potential, thanks
to it young age median, and good cultural acceptance of beer. As a result
of heightened emerging-market growth, multinational investment remains strong, as
the leading global players look to build considerable portfolios in less-developed
markets of Asia Pacific, Central and Eastern Europe, and Latin America. Still, in
such markets, governments may regard alcohol consumption as a public health issue
and abruptly decide to increase duty levels to curb consumption or the pace of its
growth. Such an effort is currently taking place in the Russian Federation, where
we expect duties on beer to double in 2007. However, the increased level, at about
5% of the average consumer price, will still remain well below the typical level
...
More Info
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Poland: Kompania Piwowarska brewery attacked via internet
Kompania Piwowarska, Poland’s no. one as far as beer production is concerned (PLN
693 mil or EUR 182.2 mil of net income in 2006) has been attacked, according to Pulsbiznesu,
June 6. Unknown people have conveyed to the media news that dangerous substances
had been found in one of KP products. The news was sent from an e-mail address very
similar to the one used by KP spokesman. “The news concerning any problems
with our product is not true, and the news is spread by people who want to adversely
affect the company. The case has already been reported to the police”, Pawel Kwiatkowski,
KP spokesman said. He believes that the responsible person will be found
within several days. “It’s very unpleasant. Unfortunately, similar cases
happen in food industry. Companies are threatened with photos showing what was allegedly
found in a bin. These attempts are absurd because numerous security systems used
in production make it impossible”, Leszek Siwecki from Carlsberg Polska said.
“It’s either a bad joke or a revenge. A disappointed client or employee may stay
behind it”, Andrzej Gentner, the director of the Polish Federation of Food Producers
said. (PLN 1 = EUR 0.263)
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USA: SABMiller says it's interested in Molson-Coors partnership
A rumored merger of MolsonCoors Brewing Co. and SABMiller could prove a financial
boon for both companies, but antitrust concerns and reluctance by the Golden-based
brewer present roadblocks, industry experts said last week, Denver Post reported
June 4. The speculated deal, rumored since at least September, gained steam
last week when Norman Adami, a president with London-based SABMiller, said during
an investor presentation that such a combination "in theory" would make financial
sense. Adami declined to comment on whether a deal with MolsonCoors was
in the works, but added, "Coors is a great company with a great portfolio and a great
management team," according to published reports. MolsonCoors spokeswoman
Aimee Valdez declined comment Friday, citing company policy. Shares of MolsonCoors
have soared recently, gaining 21 percent so far this year. Shares jumped by more
than $3.50 apiece the day following Adami's comments, before pulling back to close
at $91.52 a share on Friday. SABMiller, with a market capitalization of
$35.9 billion, is far larger than MolsonCoors, which has a market capitalization
of $8.18 billion. The cost savings that could result from a merger of the
two brewing giants makes such a combination attractive to both sides, said Eric Shepard,
executive
...
More Info
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Russia: Russian beer ad breaks the law
Many of the beer advertisements that flow freely on late-night television in Russia
target men, promoting pursuits such as fishing, grilling or just hanging out with
the guys, Brisbanetimes published June 5. Now state regulators say one of them went
too far. By seeming to celebrate male messiness and manners -- or the lack
thereof -- an ad for a brand owned by Dutch giant Heineken broke the law and threatened
family values, the Federal Anti-Monopoly Service said today. The ad for
PIT aped an opinion poll, saying "89 per cent of men believe they are not guilty
of anything", and showed images including dirty footprints on a carpet, a nearly
empty refrigerator and a flower bed ruined by an errant soccer ball, the government
agency said. The spot, which ran in September and October, violated legislation
barring the use in advertising of "obscene or insulting images, comparisons or expressions,
including in relation to gender, race, ethnicity, professions or social status",
it said. The reference to gender in the legislation may have been meant
largely to protect against offensive depictions of women. But in this case, the letter
of the law was apparently used in a bid to discourage what officials saw as an
...
More Info
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Malt News
EU: Maltsters continue to cover malt sales back to back in barley markets
The combined effect of a smaller acreage and lower yields will be reduced
supplies to the malting industry. Trade and industry are working with very tight
S/D balances. Market prices show that the better weather in May has not turned around
crop expectations. (in Euro per ton) April 18; April 27; June 1
French
2row spring barley, July, FOB Creil 175-177; 210; 217
French 2row spring barley,
July, FOB Moselle 186–188; 225; 228
French 6row winter barley, July, FOB Moselle
162; 190; 199 Danish 2row spring barley, Oct, FOB seaport 183; 210; 214
Maltsters continue to cover malt sales back to back in barley markets. They have
purchased also good quantities of crop 2008 barley, prices are: French 2row spring
barley, July 2008, FOB Creil EUR 188 – 190 and Danish 2row spring barley, Oct 2008,
FOB seaport EUR 196.
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Barley News
EU: Markets are firm, old and new crop prices are at the same level
The crop year of 2006/07 is approaching its end. There is little domestic
activity in old crop malting barley, but open demand is still seen for export to
Russia. Feed barley markets are very tight; the EU Commission has reduced
intervention stocks to a quarter million tons. Markets are firm, old and new crop
prices are at the same level, CPT Rouen EUR 152,- and CPT Rotterdam/Dutch/NW German
consumption regions close to EUR 160,- for June/August. Export business has been
done to Morocco at US$ 250,-/255,- CFR. As international barley traders are apprehensive
about a possible barley export embargo of the Ukraine, much of the Middle East demand
is shifted to the EU, until Canadian and Australian new crop barley become available.
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Malting barley prices. French barley prices.
Nominal prices.
EURO = USD 1.3509 June 06, 2007 |
Crop year |
2006 |
2007 |
Parity |
FOB Creil |
FOB Creil |
Position |
July 2006 |
July 2007 |
Type |
Variety |
EURO |
USD |
EURO |
USD |
2RS |
Scarlett |
200.00 |
270.50 |
211.00 |
285.50 |
2RS |
Prestige |
199.00 |
269.00 |
210.00 |
284.00 |
2RS |
Cellar |
198.00 |
267.50 |
209.00 |
282.50 |
2RS |
Sebastien |
197.00 |
266.50 |
208.00 |
281.00 |
2RS |
Astoria |
197.00 |
266.50 |
208.00 |
281.00 |
2RS |
Cork |
197.00 |
266.50 |
208.00 |
281.00 |
6RW |
Esterel |
171.00 |
231.50 |
182.00 |
246.00 |
Theoretical malt prices.
EURO = USD 1.3509 June 06, 2007 |
Crop year |
2006 |
Parity |
FOB Antwerp |
Position |
June 2007-Sept 2007 |
Conditioning |
Bulk |
In bags |
Bulk containers |
Bags, containers |
Malting barley variety |
EURO |
USD |
EURO |
USD |
EURO |
USD |
EURO |
USD |
2RS |
Scarlett |
420.50 |
567.50 |
443.00 |
598.50 |
437.00 |
590.00 |
447.50 |
604.50 |
2RS |
Prestige |
419.00 |
566.00 |
441.50 |
596.50 |
435.50 |
588.50 |
446.00 |
602.50 |
2RS |
Cellar |
417.50 |
564.50 |
440.50 |
595.00 |
434.50 |
586.50 |
445.00 |
601.00 |
2RS |
Sebastien |
416.50 |
562.50 |
439.50 |
593.50 |
433.00 |
585.00 |
443.50 |
599.50 |
2RS |
Astoria |
416.50 |
562.50 |
439.50 |
593.50 |
433.00 |
585.00 |
443.50 |
599.50 |
2RS |
Cork |
416.50 |
562.50 |
439.50 |
593.50 |
433.00 |
585.00 |
443.50 |
599.50 |
2RS |
Average price |
418.00 |
564.50 |
440.50 |
595.00 |
434.50 |
586.50 |
445.00 |
601.00 |
6RW |
Esterel |
383.50 |
519.50 |
407.50 |
550.50 |
401.00 |
542.00 |
411.50 |
556.00 |
* |
Asia Malt 70/30 |
408.00 |
551.00 |
430.50 |
581.50 |
424.50 |
573.50 |
435.00 |
587.50 |
** |
Asia Malt 50/50 |
401.00 |
542.00 |
424.00 |
572.50 |
417.50 |
564.50 |
428.50 |
578.50 |
EURO = USD 1.3509 June 06, 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 |
412.50 |
556.50 |
435.00 |
587.50 |
428.50 |
579.00 |
439.50 |
593.50 |
2RS |
Prestige |
411.00 |
555.00 |
433.50 |
586.00 |
427.50 |
577.50 |
438.00 |
591.50 |
2RS |
Cellar |
409.50 |
553.50 |
432.50 |
584.50 |
426.50 |
576.00 |
437.00 |
590.00 |
2RS |
Sebastien |
408.50 |
552.00 |
431.50 |
582.50 |
425.00 |
574.00 |
435.50 |
588.50 |
2RS |
Astoria |
408.50 |
552.00 |
431.50 |
582.50 |
425.00 |
574.00 |
435.50 |
588.50 |
2RS |
Cork |
408.50 |
552.00 |
431.50 |
582.50 |
425.00 |
574.00 |
435.50 |
588.50 |
2RS |
Average price |
409.50 |
553.50 |
432.50 |
584.50 |
426.50 |
576.00 |
437.00 |
590.00 |
6RW |
Esterel |
375.50 |
508.50 |
399.50 |
539.50 |
393.00 |
531.00 |
403.50 |
545.50 |
* |
Asia Malt 70/30 |
399.50 |
540.00 |
197.00 |
570.50 |
191.00 |
562.50 |
201.50 |
576.50 |
** |
Asia Malt 50/50 |
393.00 |
531.00 |
197.00 |
561.50 |
191.00 |
553.50 |
201.50 |
567.50 |
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
Annual UK Barley Supply And Demand Estimates
`000 tonnes |
2000/01 2005/06 average |
2004/05 Estimate |
2005/06 Estimate |
2006/07 May 2007 |
% change on 05/06 |
Opening Stocks |
1,032 |
873 |
932 |
887 |
-5% |
Production |
6,088 |
5,799 |
5,495 |
5,239 |
-5% |
Imports |
78 |
80 |
76 |
85 |
12% |
Total Availability |
7,198 |
6,752 |
6,503 |
6,211 |
-4% |
Human and Industrial Consumption |
1,863 |
1,784 |
1,714 |
1,712 |
-0% |
(of which home grown) |
1,923 |
n/a |
n/a |
n/a |
- |
Usage as Animal Feed |
3,374 |
3,127 |
3,094 |
3,024 |
-2% |
(of which home grown) |
3,794 |
n/a |
n/a |
n/a |
- |
Seed |
150 |
132 |
143 |
135 |
-6% |
Other |
30 |
29 |
27 |
26 |
-4% |
Total Domestic Consumption |
5,418 |
5,072 |
4,978 |
4,897 |
-2% |
Balance |
1,780 |
1,680 |
1,525 |
1,314 |
-14% |
Exports |
795 |
748 |
638 |
485 |
-24 |
Intervention Stocks |
64 |
16 |
30 |
- |
- |
Exports/Intervention Stocks |
860 |
764 |
668 |
485 |
-27% |
Commercial End-Season Stocks |
921 |
916 |
857 |
829 |
-3% |
Source: DEFRA, May 2007 (July - June Years)
Graph of the week
These Days in Business History
June 4
1070 Roquefort cheese created in a cave near Roquefort, France
1875 Pacific Stock Exchange opens
1953 Woodcock, Hess & Co. of Philadelphia incorporates, becoming the first firm that's a member of the New York Stock Exchange to do so.
June 5
1507 England and Netherlands sign trade agreement
1933 Gold standard abolished 5 British population agrees to European Common Market membership
1977 Apple II, the 1st personal computer, goes on sale
June 6
1875 Netherlands goes on the gold standard
1882 Electric iron patented by Henry W Seely, New York City
1925 Walter P. Chrysler founds the Chrysler Corp. as successor corporation to the failing Maxwell Motor Car Co.
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Agenda
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Copyright © E-Malt s.a. 2007
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