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Newsletter Summary

Currency Rates
Brewery News
Malt News
Barley News
More News
Theoretical malt prices
Malting barley prices
Malting Barley Price Evolution
Graph of the week
Agenda
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April 19 - April 21, 2004
Currency Rates
Base Currency: Euro, EUR
on 21-Apr-2004

1 EUR = 1.1864 USD
1 EUR = 0.6640 GBP
1 EUR = 1.6101 CAD
1 EUR = 1.6172 AUD
1 EUR = 128.89 JPY
1 EUR = 3.4762 BRL
1 EUR = 34.2775 RUB
Base Currency: US Dollar, USD
on 21-Apr-2004

1 USD = 0.8430 EUR
1 USD = 0.5596 GBP
1 USD = 1.3571 CAD
1 USD = 1.3631 AUD
1 USD = 108.68 JPY
1 USD = 2.930 BRL
1 USD = 28.892 RUB

EUR/USD Chart
Top Industry News
  • Canada, Toronto: Quebec brewer Unibroue Inc., a proud proponent of the province's French roots, sold out to an English-Canadian rival on April 20 Click here

  • Bosnia, Sarajevo: The Bosnian Serb privatisation agency has annulled a tender for the sale of a majority stake in Banjalucka Pivara, Bosnia's biggest brewery Click here

  • The US brewer Coors Brewing Co., is to be hit with a lawsuit attacking for allegedly promoting underage drinking Click here

  • Germany: The 2006 World Cup may have a distinctly American flavor if FIFA's beer contract remains in place ... Click here

  • Japan, Tokyo: Pricing practices in Japan's beer market are expected to change substantially as Asahi Breweries Ltd said on April 20 it will stop ... Click here

  • Vietnam is about to start-up its first malt plant this May. But the 35,000 tonnes of Lausmann plant will not change the overall picture ... Click here

  • Estimate of EU Barley Plantings ... Click here

  • United Kingdom: DEFRA estimates that 449,000 ha of winter barley were planted, 7 % less than a year ago ... Click here

More News
  • USA, Milwaukee: Miller Brewing Company and Miller Brewmaster Dr. David Ryder were named the World Beer Cup Champion Brewery and Brewmaster ...more info


  • U.K., London - SABMiller, the world's second-biggest brewer, was starting an advertising campaign that made fun of Anheuser-Busch's Budweiser marketing icons ...more info


  • Germany: Carlsberg is hoping to boost sales of its own brands in Germany through its acquisition of Holsten, according to press reports ...more info


  • USA: Miller is to pay around US$1.3 million to settle claims for unpaid overtime by its sales representatives ...more info


  • United Kingdom: Hardys & Hansons, the UK regional brewing and pub company, has announced the retirement of its chairman ...more info


  • Russia: Moscow based Brewery Ochakovo sold 157 million litres of its production in the first quarter of the year that is 3% more than in the same period last year ...more info


  • Australia, Tasmania: A specialty beer brewed in Tasmania has been declared the world's best amber lager at the World Beer Cup 2004, held in San Diego, California ...more info


  • USA, Houston: Beer companies are jumping on the bandwagon, marketing light beers. Miller Brewing Company has seen sales of its Miller Lite beer grow by double digits over the past ...more info


  • China: Savings in finance costs and lower provisions lifted Guangdong Investment's 2003 net profit to HK$1.11 billion, a leap of 467 per cent from the previous year's HK$194.9 million ...more info


  • Philippines, Manila: Strong beer sales by San Miguel Corp ahead of next month's Philippine elections should have boosted first-quarter profits at Southeast Asia's largest ...more info


  • Mexico City: Mexico's top brewer Grupo Modelo said on April 19 its shareholders agreed to a 0.8523 peso dividend payment ...more info


  • Canada, Montreal: Unibroue Inc. stock jumped 14 % to a five-year high on April 16 after the small Canadian brewery said it was the target of a takeover bid ...more info


  • Canada: Brick Brewing Co. Ltd., The Waterloo, Ont.-based company announced on April 15 it earned a small profit for its just completed fiscal year ...more info


  • Norway: An on-going price war on beer may lead to lay-offs and reductions at Norwegian breweries, The Norway Post reported on April 19 ...more info


  • Estonia: Finns, separated from Estonia by a mere hour and a half boat-ride, are preparing in record numbers to invade its capital Tallinn for a historic beer-shopping ...more info


Brewery News
Canada, Toronto: Quebec brewer Unibroue Inc., a proud proponent of the province's French roots, sold out to an English-Canadian rival on April 20, giving Ontario's Sleeman Breweries Ltd. a stronger foothold in Quebec and a new avenue into the U.S. market, according to Reuters statement. For years, Sleeman has been eyeing Unibroue as a way to expand in Canada's second-largest beer market and on Tuesday the 170-year-old Ontario brewer offered C$36.5 million ($27 million) in cash and debt for Quebec's largest microbrewer. "The transaction is the next step in the continued growth of Sleeman," chief executive John Sleeman said in a statement. Andre Dion, Robert Charlebois and Serge Racine, who together own 71.8 percent of Unibroue, agreed to tender all their shares to the offer. The move will help Guelph, Ontario-based Sleeman boost its brewing capacity in Eastern Canada, create a platform for its brands in Quebec and give it access to Unibroue's U.S. distribution network. Sleeman expects the acquisition to add between C$5 million and C$6 million to its 2005 earnings before income taxes, depreciation and amortization. "It's positive for the company. The brands are complementary and there's opportunity to expand Unibroue's brands beyond Quebec," said Krista Mackay, an analyst with Salman Partners Inc...more info

Bosnia, Sarajevo: The Bosnian Serb privatisation agency has annulled a tender for the sale of a majority stake in Banjalucka Pivara, Bosnia's biggest brewery, because none of the offers were valid, it said on April 16, according to Reuters. The authorities advertised the sale of a 53.81 % stake in the brewery in January and the tender closed on April 15. "The international tender for the sell-off of the state capital in Banjalucka Pivara was annulled as none of the bids was formally and legally valid," the agency said in a statement, without giving details. The privatisation agency did not release a price for the stake in the sole brewery in the country's Serb Republic but the regional government had earlier put its value at 43 million Bosnian marka ($26.2 million). The agency also did not name the firms that had made offers in the tender. However, the brewery's general manager said on April 16 that London-based SABMiller Plc, Belgium's Interbrew, Denmark's Carlsberg breweries A/S and Heineken through its Austrian subsidiary BBAG were among the bidders. Predrag Radic told the daily Nazavisne Novine that Austria's Ottakringer and Slovenia's Pivovarna Lasko had also asked for the tender documentation. The Slovenian brewery requested on April 16 a 60-day extension of the tender...more info

The US brewer Coors Brewing Co., is to be hit with a lawsuit attacking for allegedly promoting underage drinking. The lawsuit on this occasion has been brought by the mother of a 19-year-old killed in a traffic accident. Jodie Pisco, of Reno, contends Coors has failed in its duty to protect the country's youth from drinking. Her son, Ryan, was killed in 2002 after he drank Coors at a party and drove his girlfriend's car into a light pole at 90 mph, the lawsuit says. The lawsuit, filed April 14 in Washoe County District Court, seeks unspecified damages. It accused Coors of "glorifying a culture of youth, sex and glamor while hiding the dangers of alcohol abuse and addiction." Laura Sankey, a spokeswoman for Golden, Colo.-based Coors, said that although she could not comment on pending litigation, the company "doesn't want underage consumers -- period." "Tragedies like this further reinforce why the fight against underage drinking and drunk driving must continue," Sankey told the Reno Gazette-Journal. Also named in the suit were Ryan Pisco's girlfriend and her mother. The lawsuit alleges the girlfriend allowed Pisco, who lacked a valid driver's license, to drive off in her car, which had been given to her by her mother.

Germany: The 2006 World Cup may have a distinctly American flavor if FIFA's beer contract remains in place. Anheuser-Busch Cos. Inc. has a deal with FIFA, world soccer's governing body that gives the American company exclusive rights to sell beer in and around World Cup stadiums, SFGate.com wrote on April 9. Anheuser-Busch has been a sponsor or marketing partner of the World Cup in each tournament since 1986. Munich officials are upset and want Bavarian beer sold at the tournament, too. After all, Munich is the home of Oktoberfest, billed as the world's biggest beer bash. "When the world comes to Bavaria in 2006, our guests should be able to rely on learning about our unique cultural goods," local Greens party leader Sepp Duerr said Monday. Local leaders are urging Bavarian governor Edmund Stoiber to take up the issue. Gerhard Ohneis, chief of the Augustiner brewery, said the FIFA sponsoring contract would "destroy old traditions." The World Cup runs from June 9-July 9, 2006, in a dozen German cities, including Munich.

Japan, Tokyo: Pricing practices in Japan's beer market are expected to change substantially as Asahi Breweries Ltd said on April 20 it will stop suggesting wholesale and retail prices in the wake of the same decision announced by Kirin Brewery Co in January. The announcements will have a strong impact on other brewers as Asahi and Kirin together command some 75% of the domestic market for beer and "happoshu" low-malt beer, Kyodo News said on April 21. Shipments of beer and happoshu fell in March 2004, according to figures released on April 19. Combined shipments by Kirin, Asahi, Sapporo, Suntory and Orion breweries fell last month by 4.7% to 39.23 million cases. It is the third consecutive year-on-year decrease. While beer shipments dropped by only 0.4% year-on-year to 23.09 million cases, happoshu shipments also dropped, by 10% to 16.08 million cases. Only Asahi saw happoshu shipments increase in March, with a rise of 15.7%, after launching new products. Combined shipments of beer and happoshu at the company grew by 7%. In February this year, beer shipments recorded their first year-on-year rise in 47 months.

Malt News

Vietnam is about to start-up its first malt plant this May. But the 35,000 tonnes of Lausmann plant will not change the overall picture for import needs significantly, as Vietnam also looks forward to very promising times, analysts revealed. Imports of 160,000 tonnes of malt are foreseen for 2004. But especially for next year European maltsters have given their introduction to the Vietnamese market, as Australian maltsters are expected to reduce their commitment in favor of the non-import tax ruling for Australian malt to Thailand as of 2005. Past September sales from Australia to Vietnam were reported at US$ 360 CIF, but recent sales from Europe were made at US$ 400.

Barley News
Estimate of EU Barley Plantings (in thousand ha)

  in '000 hectares  WINTER  SPRING  TOTAL 

Acreage

Acreage

Acreage

2003  2004  2003  2004  2003  2004 
EU Members
 Austria  73  70  138  145  211  215 
 Belgium  28  26  12  40  31 
 Denmark   131  140  583  560  714 

700 

 Deutschland   1,337  1,409  750  625  2,087  2,034 
 España  744  730  2,345  2,380  3,089  3,110 
 France   1,049  1,057  697  500  1,746  1,557 
 Greece  100  155  100  155 
 Ireland  17  15  169  160  186  175 
 Italy   310  275  310  275 
 Luxembourg 10  10 
 Netherlands 53  55  56  57 
 Portugal  10  25  10  25 
 Suomi Finland   530  590  530  590 
 Sweden   10  360  400  367  410 
 United Kingdom  456  450  622  550  1,078  1,000 
 Total EU members 4,270  4,369  6,264  5,975  10,534  10,344 
 New EU Members 
 Estonia      127  126  127  126 
 Latvia      130  125  130  125 
 Lithuania      360  340  360  340 
 Poland  106  150  910  950  1,016  1,100 
 Czech Republic 86  132  440  350  526  482 
 Slovakia  20  10  220  180  240  190 
 Slovenia  10      10 
 Hungary  202  200  168  190  370  390 
 Total new EU members

424

501  2,355  2,261  2,779  2,762 
 
TOTAL EU 4,694  4,870  8,619  8,236  13,313  13,106 

United Kingdom: DEFRA estimates that 449,000 ha of winter barley were planted, 7 % less than a year ago, but more than estimated earlier by the trade. England and Wales are the part of the country, where most winter barley is grown, 385,000 ha. About 60 % of the planted winter barley are malting varieties, of which 85 % Pearl, the balance split almost evenly between Regina, Fanfare and Maris Otter, analysts said. Spring barley acreage is estimated to be 540-550,000 ha, predominantly Optic (51%), Cellar (16%), and a new variety called Cocktail. Acreage last year had been 622,000 ha due to the large extent of winterkill. Spring sowing is almost done in England (90%), Scotland just started and might finish in a week, weather permitting. Overall winter plantings look good, spring conditions as well, although rain is also needed over here.



Theoretical malt prices.

  EURO = USD 1.1864 April 21, 2004 
Crop year  2003 
Parity  FOB Antwerp 
Position  Apr 2004-Sept 2004 
Conditioning  Bulk   In bags  Bulk containers Bags, containers
Malting barley variety  EURO  USD  EURO  USD  EURO  USD  EURO  USD 
2RS  Scarlett  249.50  296.00  264.50  314.00  261.00  309.50  270.50  321.00 
2RS  Prestige/Cellar  248.50  294.50  263.50  312.50  259.50  308.00  269.50  319.50 
2RS  Aspen  247.00  293.00  262.00  311.00  258.50  306.50  268.00  318.00 
2RS  Optic  247.00  293.00  262.00  311.00  258.50  306.50  268.00  318.00 
2RS  Astoria  245.50  291.50  261.00  309.50  257.50  305.50  267.00  316.50 
2RS  Cork   245.50  291.50  261.00  309.50  257.50  305.50  267.00  316.50 
2RS   Average price  247.50  293.50  262.50  311.50  259.00  307.50  268.50  318.50 
2RS  FAQ  244.50  290.00  259.50  308.00  256.00  303.50  265.50  315.00 
6RW  Esterel   239.50  284.50  254.50  302.50  251.00  298.00  260.50  309.50 
Asia Malt 70/30  245.00  290.50  260.50  308.50  256.50  304.50  266.00  315.50 
**  Asia Malt 50/50  243.50  289.00  258.50  307.00  255.00  302.50  264.50  314.00 

* - 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 2004 are available on site
www.e-malt.com/MarketPrices

Malting barley prices. French barley prices.
Nominal prices.

EURO = USD 1.1864 April 21, 2004 
 Crop year   2003   2004 
 Parity   FOB Creil   FOB Creil 
 Position   July 2003   July 2004 
Type   Variety  EURO  USD  EURO  USD 
2RS  Scarlett  119.00  141.50  128.00  152.00 
2RS  Prestige/Cellar  118.00  140.00  127.00  151.00 
2RS  Aspen  117.00  139.00  126.00  149.50 
2RS  Optic  117.00  139.00  126.00  149.50 
2RS  Astoria  116.00  138.00  125.00  148.50 
2RS  Cork   116.00  138.00  125.00  148.50 
6RW  Esterel   111.00  132.00  114.50  136.00 

nq - Not quoted

Prices for Danish and UK malting barley are available on site www.e-malt.com/MarketPrices

French Malting Barley Price Evolution


Maximum average price for 2RS Malting Barley, Crop 2003: 148.50 EUR/tonne - in November 2002
Minimum average price for 2RS Malting Barley, Crop 2003: 118.29 EUR/tonne - in April 2004
up Maximum average price for 6RW Malting Barley, Crop 2003: 140.00 EUR/tonne - in December 2003
Minimum average price for 6RW Malting Barley, Crop 2003: 112.00 EUR/tonne - in April 2004
Graph of the week

Agenda

April 2004:
InterFood;
INTERFOOD UZBEKISTAN /INTERFOODTECH 2004
INTERFOOD ST. PETERSBURG 2004
SIBFOODEXPO 2004
BEER. WINES & DRINKS International Beer
World Beer Cup
2004 National Craft Brewers Conference
FOODASIA 2004
ASTANA FOOD 2004
INTERFOOD AZERBAIJAN/ INTERFOODTECH 2004
43rd MBAA District Caribbean Convention
IFEX 2004
EXPOVIVIENDA 2004

May 2004:
EBC SYMPOSIUM 'FOOD SAFETY & TRACEABILITY'
CANADEAN'S 4th INTERNATIONAL BEER CONFERENCE
CITBUSMED 2004
PIVO, GASTRO, BAKERY / Bulgaria
ALCO + SOFT 2004 / Ukraine
FOOD & DRINKS/FOOD TECHNOLOGY 2004 / Moldova
Beer International Brewing Technology Exhibition / Russia

June 2004:
ALIMENTARIA MEXICO International Food and Beverages Exhibition
Hotelympia
10th international symposium on pre-harvest sprouting in cereals;
BevTek / BrewTek
IGC GRAINS CONFERENCE 2004
26th Annual National Homebrewers Conference
Coceral Congress 2004
The 9th International Barley Genetics Symposium
Little Oktoberfest


More events are available on site e-malt.com

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