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Currency rates
Equities of largest breweries
Market prices change trend
Top industry news
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Price evolution
Table of the week
Graph of the week
On These Days
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E-malt.com Newsletter 34b
August 23 - August 26, 2007
Quote of the week
"The time to relax is when you don't have time for it."
Sydney J. Harris
 Currency
Rates 
Base Currency: Euro, EUR
on 24-August-2007
1 EUR = 1.3557 USD
1 EUR = 0.6781 GBP
1 EUR = 1.4334 CAD
1 EUR = 1.6644 AUD
1 EUR = 157.271 JPY
1 EUR = 2.7212 BRL
1 EUR = 34.8852 RUB
1 EUR = 10.2958 CNY
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Base Currency: US Dollar
on 24-August-2007
1 USD = 0.7377 EUR
1 USD = 0.5002 GBP
1 USD = 1.0573 CAD
1 USD = 1.2275 AUD
1 USD = 116.006 JPY
1 USD = 2.0072 BRL
1 USD = 25.7315 RUB
1 USD = 7.5943 CNY
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EUR/USD Chart
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Equities of the Largest Breweries
Top Industry News
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Hong Kong: China Resources Snow Breweries announces four acquisitions in Liaoning, Anhui and Hunan...
Click here
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Australia: Foster's is going to register a 15% increase in H2 profit boosted by strong beer sales...
Click here
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Philippines: San Miguel to expand in Cambodia and Vietnam...
Click here
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Czech Republic: Almost 10 million hectolitres of beer was produced in the first six months of this year, more than ever before...
Click here
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World: Chinese beer consumption doubled over the past decade...
Click here
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The Netherlands: Budget plans wine and beer tax hike...
Click here
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Belarus: Over $125m needed to reequip Belarusian brewing industry...
Click here
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Canada: Barley crop 2007 is about 24% higher than last year...
Click here
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Australia: Record-busting prices for wheat and barley this year as problems plague harvests around the world...
Click here
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 More News
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USA: Bankrupt Pittsburgh Brewing Co. may be sold next week
...
More Info
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India & UK: Cobra set to pick up 76% in Regal Breweries, the first equity investment of Cobra Beer in India
...
More Info
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Ghana: Accra Brewery sees growth in production and profit
...
More Info
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Romania: “Brewers of Romania” joins The “Brewers of Europe” family
...
More Info
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UK: Dresdner Kleinwort Wasser maintains Scottish & Newcastle "buy"
...
More Info
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Kenya: Shortage of Kenya Breweries beer hits Nyeri
...
More Info
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New Zealand: New Zealand’s hops used in low-malt Japanese 'beer'
...
More Info
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Russia: Nakhodka County restricts beer in public
...
More Info
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Finland: Sinebrychoff Light Beer makes a comeback
...
More Info
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India: UB plans to introduce Whyte & Mackay brands by Diwali
...
More Info
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 Brewery News
Hong Kong: China Resources Snow Breweries announces four acquisitions in Liaoning, Anhui and Hunan
China Resources Snow Breweries Limited (or “CR Snow”), a subsidiary of China Resources
Enterprise, Limited (or “The Company”) and a joint venture with SABMiller plc, announced
on August 24th that it has agreed to acquire two breweries in Liaoning Province and
one brewery in each of Anhui and Hunan Provinces in four separate transactions. The
total investment cost for the four acquisitions is RMB596 million, which includes
a cash consideration of RMB431 million.
CR Snow has agreed to acquire an
80% equity interest in (“Liaoning Yalujiang Brewery Company Limited” or “Yalujiang
Brewery”) and the brewing assets in (“Huludao Juhua Brewery Company Limited” or “Juhua
Brewery”) through the formation of a joint venture in which it will own an 85% equity
interest. It has further agreed to acquire the brewing assets in (“Anhui Wanpi Brewery
Company Limited” or “Wanpi Brewery”) and a 100% equity interest in (“Hunan Xinghua
Brewery Company Limited” or “Xinghua Brewery”). All the four breweries will undergo
technology upgrade to their existing facilities in order to align with the production
requirements for “SNOW”.
In 2006, Yalujiang Brewery sold approximately 100,000
kiloliters of beer with a production capacity of 143,000 kiloliters, while Juhua
Brewery sold around 58,000 kiloliters with a
...
More Info
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Australia: Foster's is going to register a 15% increase in H2 profit boosted by strong beer sales
Australia's biggest alcoholic drinks company, Foster's Group Ltd, is set to report
a 15 percent rise in second-half profit, boosted by strong beer sales, although
margins are likely to remain under pressure, Reuters communicated on August 24th.
Analysts said rising costs and volatility in the Australian dollar could
make for a cautious outlook, given the company makes around a quarter of its earnings
from the United States.
Also, wine earnings at the world's second-largest
wine company are likely to be soured by weak sales at home. "The strong Australian
dollar and short 2007 vintage are major challenges for Foster's," said Macquarie
Research analyst Andrew Kovacs, adding consensus forecasts were unambitious.
Foster's is tipped to post January-June profit before one-off charges of A$334.2
million ($271 million), up from A$289.8 million a year ago, based on Reuters calculations
on a survey of nine analysts.
For the full year to end-June, Foster's is
likely to post a 14.6 rise in profit to A$697.5 million.
Macquarie's Kovacs
said the Australian beer business should prove solid and U.S. wine sales were likely
to be the highlight, although that would be tempered by the currency impact.
Foster's global wine business is ranked behind only U.S.-based Constellation
Brands Inc STZ.N, and includes
...
More Info
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Philippines: San Miguel to expand in Cambodia and Vietnam
Southeast Asia's largest food and drinks group, San Miguel Corp., announced on
August 23rd it was looking to expand beer distribution in Vietnam and build a
brewery in Cambodia, Reuters communicated on August 24th.
The group was
confirming reports in the Philippine Star and BusinessWorld newspapers on its plans
in a statement to the stock exchange, but did not give any further details.
San Miguel Assistant Vice President Benjamin Aton was quoted saying the feasibility
study for the Cambodia brewery would be completed in 2010 and a facility with a production
capacity of 200,000 hectoliters would cost $16 million.
Aton also said the
company would set aside $2 million to $8 million to expand the capacity of its Vietnam
plant in Dong Nai province to 500,000 hectoliters from 200,000.
The Philippine's
third-largest listed firm with a market value of $4.7 billion, has said food and
drink will remain its major business amid investors' concerns over its plans to diversify
into heavy industry.
Credit rating firm Moody's downgraded San Miguel's
debt rating to Ba2 from Ba1 on Tuesday due to lingering uncertainty over the company's
plan to seek investments in mining, power and property industries.
San Miguel's
B shares, which
...
More Info
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Czech Republic: Almost 10 million hectolitres of beer was produced in the first six months of this year, more than ever before
The Czech Beer and Malt Association announced on Friday, August 24th that almost
10 million hectolitres of beer was produced in the Czech Republic in the first six
months of this year, more than ever before, according Radio Prague.
Production
in that period was almost four percent higher than in 2006. What is behind this impressive
increase? That's a question I put to the association's chairman Frantisek Krakes.
"First of all, thanks to heaven, the weather this year has been not only
better than last year's, but the best. Also, Czech consumers prefer Czech beer. With
more tourism, they have more opportunities to visit foreign countries around the
world. They have realized that Czech beer is the best, and are coming back to the
best Czech beer."
But there is more good news for Czech and Moravian brewers.
As well as the increase in production, the export of Czech beer has risen even more,
by 4.2 percentage points. The leading importer of Czech beer has long been Germany
with almost 1.8 million hectolitres, followed by Slovakia and England. By contrast,
some of our neighbouring countries, including Austria and Poland, do not seem to
be that keen on Czech beer.
...
More Info
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World: Chinese beer consumption doubled over the past decade
Chinese beer consumption has doubled over the past decade, as the rising economic
power toasts its new wealth with cold suds, a Japanese survey said Friday, August
24th, according to AFP.
In 2006 alone, Chinese firms produced 35 million
kiloliters (9.2 billion gallons), up 14.7 percent from the previous year and accounting
for some one fifth of global beer production, according to Japanese brewer Kirin
Holdings.
The amount reflected a 109-percent increase over the past 10 years,
while global beer production rose 33.6 percent to 170 million kiloliters in the same
period, said a Kirin study.
"Since overtaking the United States as the top
beer producer in 2002, China has maintained its position and showed double-digit
growth in 2006," the study said. "In addition to the improving quality of life in
China, resulting from the strong eonomy, the culture of beer drinking has spread
from the coastal areas to inner regions," the study said.
While much of
the world is alarmed by global warming, Kirin suggested that climate change may be
helping global beer consumption.
"The general recovery of the global economy
as well as increasing temperatures are believed to be the main drivers of the increasing
production," it said.
Beer consumption rose particularly in nations
...
More Info
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Belarus: Over $125m needed to reequip Belarusian brewing industry
More than $125 million is needed to retool the Belarusian brewing industry, Belarus
President Alexander Lukashenko said at government session dedicated to the brewing
industry development on August 23rd, according to Belarus media.
“In order
to reach the state-of-the-art level like the one, say, Krinitsa brewery has, we need
about $125 million. Just $125 million to modernise the entire industry in order to
produce the beer we want,” stressed the President.
Alexander Lukashenko
noted, the capacity of the existing breweries lag behind the rapidly growing demand.
Besides, modern consumers are not satisfied with the quality of Belarusian beer,
which is a way lower than that of well-known foreign brands.
The head of
state noted, it is necessary to satisfy the domestic demand for beer and to increase
Belarusian beer export. “Is it true we import more and more beer and what are the
reasons for that? What impedes beer import reduction and increase in beer export?”
the President asked those present at the session.
|
 Barley News
Australia: Record-busting prices for wheat and barley this year as problems plague harvests around the world
Wheat exporter AWB this week raised its estimated pool return for the crop
now in the ground to an unprecedented $300 a tonne, attributing the $30 a tonne rise
to the plummeting Australian dollar and the continuing strength of world wheat prices,
West Australian Newspapers posted on August 22nd.
The price of barley, Australias
second biggest grain crop, is soaring on the back of the 7 per cent slide in the
Australian dollar in the past two weeks and problems in Ukraine, one of the biggest
exporters to Saudi Arabia, the worlds biggest importer of feed barley.
Jason
Craig, acting senior trading manager at WA grain handler and marketer CBH, said growers
could contract to sell feed barley forward for $308 a tonne free-in-store at the
port of Kwinana, a rise of more than $50 a tonne in the past three weeks and the
highest in memory. It too is significantly above last years drought-inflated price
of around $250 a tonne.
World grain prices are being driven by production
problems in the northern hemisphere - including hot dry weather in North America
and rain and floods in France, the UK and Germany - at a time when world grain stocks
are historically low.
But
...
More Info
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Malting barley prices. French barley prices.
Nominal prices.
| EURO = USD 1.3557 August 24, 2007 |
| Crop year |
2007 |
| Parity |
FOB Creil |
| Position |
July 2007 |
| Type |
Variety |
EURO |
USD |
| 2RS |
Scarlett |
283.00 |
384.00 |
| 2RS |
Prestige |
282.00 |
382.50 |
| 2RS |
Cellar |
281.00 |
381.00 |
| 2RS |
Sebastien |
280.00 |
379.50 |
| 2RS |
Astoria |
280.00 |
379.50 |
| 2RS |
Cork |
280.00 |
379.50 |
| 6RW |
Esterel |
245.00 |
332.50 |
Theoretical malt prices.
| EURO = USD 1.3557 August 24, 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 |
503.50 |
683.00 |
526.50 |
713.50 |
520.50 |
705.50 |
531.00 |
719.50 |
| 2RS |
Prestige |
502.50 |
681.50 |
525.50 |
712.00 |
519.00 |
703.50 |
529.50 |
718.00 |
| 2RS |
Cellar |
501.50 |
679.50 |
524.00 |
710.50 |
518.00 |
702.00 |
528.50 |
716.50 |
| 2RS |
Sebastien |
500.00 |
678.00 |
523.00 |
708.50 |
516.50 |
700.50 |
527.50 |
714.50 |
| 2RS |
Astoria |
500.00 |
678.00 |
523.00 |
708.50 |
516.50 |
700.50 |
527.50 |
714.50 |
| 2RS |
Cork |
500.00 |
678.00 |
523.00 |
708.50 |
516.50 |
700.50 |
527.50 |
714.50 |
| 2RS |
Average price |
501.50 |
679.50 |
524.00 |
710.50 |
518.00 |
702.00 |
528.50 |
716.50 |
| 6RW |
Esterel |
456.00 |
619.50 |
480.00 |
650.50 |
473.50 |
642.00 |
484.00 |
656.50 |
| * |
Asia Malt 70/30 |
488.00 |
661.50 |
510.50 |
692.50 |
504.50 |
684.00 |
515.00 |
698.50 |
| ** |
Asia Malt 50/50 |
479.00 |
649.50 |
502.00 |
680.50 |
495.50 |
672.00 |
506.50 |
686.50 |
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
French Malting Barley Price Evolution. Crop 2007
Table of the week
Barley Market Projections for the EU, 2003-2014
| in mln tonnes |
2003 |
2004 |
2005 |
2006 |
2007 |
2008 |
2009 |
2010 |
2011 |
2012 |
2013 |
2014 |
| Usable production |
54.2 |
60.9 |
52.6 |
54.5 |
58.5 |
57.9 |
58 |
58.2 |
57.6 |
57.6 |
57.6 |
57.5 |
| of which EU-15 |
46.2 |
51.2 |
43.2 |
46.2 |
48.2 |
46 |
46.1 |
46.1 |
46.1 |
46 |
46 |
45.9 |
| EU-10 |
8.1 |
9.7 |
9.4 |
8.3 |
8.6 |
9.7 |
9.8 |
9.9 |
9.4 |
9.5 |
9.5 |
9.6 |
| EU-2 |
0 |
0 |
0 |
0 |
1.7 |
2.1 |
2.1 |
2.1 |
2.1 |
2.1 |
2.1 |
1.9 |
| Consumption |
52.3 |
47.9 |
48.3 |
51.6 |
54.5 |
51.7 |
50.4 |
50.1 |
50.1 |
49.3 |
48.6 |
49.1 |
| of which food and industrial |
0 |
8.8 |
8.7 |
8.3 |
8.3 |
8.2 |
8.2 |
8.1 |
8 |
8 |
7.9 |
7.8 |
| of which feed |
0 |
36.3 |
35.9 |
38.7 |
41.4 |
38.1 |
36.8 |
36.5 |
36.4 |
35.7 |
35 |
35.5 |
| of which bioenergy |
0 |
0.2 |
0.7 |
1.1 |
1.5 |
1.6 |
1.7 |
1.7 |
1.8 |
1.9 |
2 |
2.1 |
| of which EU-15 |
43.5 |
38.8 |
39.7 |
42.6 |
44 |
42.8 |
41.6 |
41.2 |
41 |
40.2 |
39.3 |
39.9 |
| EU-10 |
8.8 |
9.1 |
8.6 |
9.1 |
8.7 |
7.5 |
7.5 |
7.5 |
7.7 |
7.7 |
7.8 |
7.8 |
| EU-2 |
0 |
0 |
0 |
0 |
1.9 |
1.4 |
1.4 |
1.4 |
1.4 |
1.4 |
1.4 |
1.4 |
| Imports |
0.4 |
0.4 |
0.3 |
0.4 |
0.3 |
0.3 |
0.3 |
0.3 |
0.3 |
0.3 |
0.3 |
0.3 |
| Exports |
6.3 |
6.7 |
5.8 |
6 |
5.8 |
5.4 |
5.7 |
6.9 |
7 |
7.6 |
8.2 |
8.3 |
| Beginning stocks |
11.7 |
7.8 |
14.5 |
13.3 |
10.6 |
9.1 |
10.1 |
12.3 |
13.8 |
14.6 |
15.7 |
16.7 |
| Ending stocks |
7.8 |
14.5 |
13.3 |
10.6 |
9.1 |
10.1 |
12.3 |
13.8 |
14.6 |
15.7 |
16.7 |
17.2 |
| of which intervention |
0 |
1.6 |
1.9 |
0 |
0.4 |
0.6 |
0.6 |
1.6 |
2.7 |
3.6 |
4.8 |
5.2 |
| of which EU-15 |
0 |
1.2 |
1.7 |
0 |
0.4 |
0.6 |
0.6 |
1.4 |
2.2 |
3.1 |
4.3 |
4.7 |
| of which EU-10 |
0 |
0.4 |
0.2 |
0 |
0 |
0 |
0 |
0.2 |
0.5 |
0.5 |
0.5 |
0.5 |
| of which EU-2 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
EU-10: Ten new Member States; EU-2: Bulgaria and Romania
Source: The European Commission, July, 2007
Graph of the week
These Days in Business History
August 23
1891 Thomas Edison patents motion picture camera
1904 Automobile tire chain patented
1939 Molotov-Ribbentrop pact: East Europe divided between Hitler and Stalin
August 24
1853 1st potato chips prepared by Chef George Crum (Saratoga Springs, NY)
1869 Cornelius Swarthout patents waffle iron
1995 Windows 95 debuts
August 25
1609 Galileo demonstrates his 1st telescope to Venetian lawmakers
1900 Friedrich Nietzsche philosopher, dies in Weimar, Germany
1956 1st non-stop transcontinental helicopter flight arrived Washington D.C.
August 26
1541 Turkish sultan Suleiman occupies Budapest and annexes Hungary
1843 Charles Thurber patents a typewriter
1880 Guillaume Apollinaire was born, poet/movie critic (Alcoola)
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Agenda
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