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E-Malt.com Newsletter 42a
October 15 - October 17, 2018

Quote of the Week

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Jack Welch

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Currency Rates

Base Currency: US Dollar
on October 17, 2018
Base Currency: Canadian Dollar
on October 17, 2018
      1 USD = 0.8635 EUR
1 USD = 0.7584 GBP
1 USD = 1.2960 CAD
1 USD = 1.4016 AUD
1 USD = 112.1100 JPY
1 USD = 3.7217 BRL
1 USD = 65.4254 RUB
1 USD = 6.9140 CNY
      1 CAD = 0.7715 USD
1 CAD = 0.5851 GBP
1 CAD = 0.6662 EUR
1 CAD = 1.0813 AUD
1 CAD = 86.5000 JPY
1 CAD = 2.8712 BRL
1 CAD = 50.4752 RUB
1 CAD = 5.3341 CNY

Currency Rates Chart

Equities of the Largest Breweries

Equities of the Largest Breweries

North America News
Brewery news Canada, BC: Postmark Brewing acquired by Craft Collective Beerworks ...Click here
Hops news USA, MI: Michigan hop industry booming ...Click here
Brewery news USA, WA: Crane's Castle Brewing opens in East Bremerton ...Click here
Brewery news USA, TX: Fort Worth’s Cowtown Brewing Co. announces opening ...Click here
Brewery news Canada: Molson Coors puts historic brewery in Montreal up for sale ...Click here
Brewery news USA, NY: Heritage Hill Brewhouse and Kitchen holds ribbon cutting event ...Click here
Brewery news USA, MO: Bluewood Brewing to open full-scale microbrewery in Saint Louis in Q1 2019 ...Click here
Brewery news USA: Heineken to launch nonalocoholic Heineken 0.0 across the US ...Click here
Brewery news Canada, BC: Yellow Dog Brewing to open second brewery in Penticton ...Click here
Brewery news USA, CA: Toolbox Brewing closes down ...Click here
World News
Brewery news World: Global warming could cause shortage of beer ...Click here
Brewery news UK: Beer duty tax rise to add extra £125 mln on beer spend ...Click here
Barley news Australia: Malting barley exports up 29% in September ...Click here
Brewery news Ireland: No-deal Brexit could hike up alcohol prices ...Click here
Brewery news World: Diageo launches and prices three-tranche €2 billion of fixed rate euro denominated bonds ...Click here
Brewery news India: United Breweries’ shares fall 3% after CCI raid ...Click here
Graph of the Week

Table of the Week

World Barley Production by Country

Table of the week.

Prices Evolution

Prices evolution

Barley Prices

Theoretical Malt Prices

These Days in Business History

15 October
1878 - Edison Electric Light Company incorporated
1908 - John Kenneth Galbraith is born, economist, Affluent Society-58 Hillman Award
1993 - Amstel brewery on Curacao produces 1,000,000,000th bottle

16 October
1922 - Disney Co founded
1923 - John Harwood patents self-winding watch (Switzerland)
1985 - Intel introduces 32-bit 80386 microcomputer chip

17 October
1929 - Radio Corporation of America is formed by General Electric Co. lawyer Owen D. Young
1977 - Mother Teresa of India awarded Nobel Peace Prize
1987 - Phillip Morris announces $11 billion tender offer for Kraft


October 2018:
23-26: China Brew China Beverage 2018 (Shanghai, China)
24-26: drink technology India 2018 (Mumbai, India)

November 2018:
13-15: Brau Beviale 2018 (Nuremberg, Germany)

February 2019:
8-10: Finest Spirits 2019 (Munich, Germany)
8-11: HoReCa 2019 (Athens, Greece)
16-19: Beer Attraction 2019 (Rimini, Italy)
19-21: Beviale Moscow 2019 (Moscow, Russia)

March 2019:
5-7: Expo Antad & Alimentaria Mexico 2019 (Mexico City, Mexico)
13-16: Festival Brasileiro da Cerveja 2019 (Blumenau, Brazil)
15-17: Barcelona Beer Festival 2019 (Barcelona, Spain)
19-21: Beviale Moscow 2019 (Moscow, Russia)
27-29: 10th World Barley, Malt & Beer Conference (Warsaw, Poland)

April 2019:
8-11: Craft Brewers Conference & BrewExpo America 2019 (Denver, Colorado, USA)

More events are available on site e-malt.com

News Articles

Brewery news Canada, BC: Postmark Brewing acquired by Craft Collective Beerworks
Vancouver’s Postmark Brewing is about to get a whole lot bigger, the Daily Hive reported on October 15.

The company has officially just been acquired by Craft Collective Beerworks, Canada’s only collaborative craft brewery.

Negotiated over a six-month period, this acquisition will increase the production, sales, and distribution of the BC born and built craft brewery.

Craft Collective Beerworks is a self-described one-stop innovative solution for contract brewing and sales representation. Essentially, it helps breweries out in an “increasingly competitive and difficult-to-navigate market.”

Postmark’s founding partners Steve Thorp, Nate Rayment, and Reuben Major will still own and operate the Railtown brewery, retail space, and tasting room located at 55 Dunlevy Avenue, and they will continue to oversee the brand vision and marketing strategy.

The financial terms of the deal have not been disclosed.

The acquisition also means more space at the Vancouver brewery for experimental beer production, a project Postmark is calling their “Innovation Facility.” This concept will produce small batch collaborations, a barrel ageing program, and increased cider production.

“One of our ongoing roadblocks over the years has been a lack of capacity; opportunities were there but we just couldn’t meet the demand due to our space and production constraints,” says Postmark co-founder, Nate Rayment.

“I’m really ...More info on site

Hops news USA, MI: Michigan hop industry booming
Few businesses can boast a 150 percent increase in production in two years. Michigan hop farmers can, The Detroit News reported on October 15.

The growth of craft beers and number of specialty brewers has created new opportunities for growers in Michigan, where soil and climate conditions are optimal for quality hop production along the 45th Parallel.

The renewed interest in locally grown farm products and the popularity of brewpubs have given rise to hop yards throughout the state.

"It’s just crazy. Michigan is No. 4 in hops production in the United States behind huge hop yards in the Pacific Northwest, where the climate is similar to northern Michigan,” said Rob Sirrine, a senior educator with Michigan State University’s Extension Service.

“Until a couple of years ago, hop producers in the state could not produce enough product to serve the microbrewery industry’s needs.”

It's been an astronomical growth as the state has grown in 10 years from just one acre to more than 800 acres, according to MSU.

Much of that expansion has been in the last few years. The production of hops in the state skyrocketed from 325 acres in 2015 to 810 acres in 2017, according to Hop Growers of America in ...More info on site

Brewery news USA, WA: Crane's Castle Brewing opens in East Bremerton
The newest craft brewery in Kitsap is a family destination, the Kitsap Sun reported on October 14.

At least, that's what Crane's Castle Brewing owners Dan and Megan Kranenburg envisioned when they opened the brewery and taproom late last month in the Redwood Plaza on Riddell Road.

Fashioned after a European beer hall, Crane's taproom features seating for 125 at long wooden tables, an indoor corn hole pit, a kids' play area and plenty of room for running around.

"It's not kind of the partitioned lifestyle of like, ‘mom and dad are going out for adult things, we have to go get the kids a sitter’," brewer Dan Kranenburg said. "It's like, ‘no, just bring them here’."

"Crane's Castle" is a direct translation of the name Kranenburg, according to Dan, and refers to a low, marshy area in western Germany. The brewery is the 17th open in Kitsap County.

Crane's 18 taps will pour a variety of brews including an IPA, hefeweizen, Irish Red and Scotch Ale — but Dan's specialty is lagers.

"They take longer, they're more fussy, but if you do them really well it's really apparent in every single one of them that this is well made, well rounded, well ...More info on site

Brewery news USA, TX: Fort Worth’s Cowtown Brewing Co. announces opening
Commuters whose drive into downtown Fort Worth involves traversing East Belknap Street may have noticed, during the past few months, construction on something called Cowtown Brewing Co., the Fort Worth Star Telegram reports.

On October 12, Cowtown announced on its Facebook page that it’s open: “Opened at 3 p.m., about 10 minutes before I started writing this.”

Cowtown’s big twist is that it was also offer barbecue. “Our craft beer and smoked meats are developed and perfected on-site,” says a message on the “about” section of the website.

“We’re a brewpub, actually, with a brewpub license,” head brewer Shawn Kidwell said in an August interview. “We’ll be brewing our own beer and out back we’ll have a smoker, and we’ll be doing a traditional Texas barbecue menu to go along with beer.”

The barbecue isn’t ready yet, according to a Facebook comment. But the beer is.

Kidwell says he started home-brewing about eight years ago, and became obsessed enough with it that four years ago he quit his job and went to brewing school. His background includes Grapevine Craft Brewery, where he was an assistant brewer for about a year and a half. He left to start developing Cowtown Brewing Co,

According to the brewery’s website, ...More info on site

Brewery news Canada: Molson Coors puts historic brewery in Montreal up for sale
Molson Coors Canada has announced that its historic brewery on Notre-Dame St. in Montreal is up for sale, more than a year after its relocation plans were first reported, Canadian Beer News reported on October 12.

According to CTV News, proceeds from the sale for the 12-hectare site are expected to be in the hundreds of millions, and will be used to fund the construction of a new brewing facility in Longueuil which is expected to open in 2021.

Molson Coors spokesperson Francois Lefebvre notes that the company is “looking for a developer that will respect the heritage of the Molson family and the Molson brewery and also that will work in collaboration with the city of Montreal.” It’s also planned for Molson to retain offices, a small brewery, and museum on the site.

Brewery news USA, NY: Heritage Hill Brewhouse and Kitchen holds ribbon cutting event
After returning to Pompey to run his family’s farm back in 2011, owner Dan Palladino has spent the past seven years expanding the business into a brand — quadrupling the site’s size to over 2,600 acres, opening a farm store and a farm-to-table café, building a live music stage and a homemade playground, maintaining its own pumpkin patch and now, finally, creating its own brewery, the Eagle News Online reported on October 12.

Residents have waited months for the opening of Heritage Hill Brewhouse and Kitchen at Palladino Farm, located at 3149 Sweet Road in Pompey. Nestled above the hills of the town with over 400 acres of barley and overseeing eight counties, its motto is “Brews, Foods & Views,” and focuses on New York State-grown ingredients.

“It’s taken a lot of little things to happen for us to get here. It’s kind of crazy, but here we are,” said Palladino during the brewery’s ribbon cutting event inside the brewhouse on Thursday, Oct. 11. The event was hosted by the Greater Manlius Chamber of Commerce, with attendees including Pompey Town Supervisor Carole Marsh, County Legislator Dave Knapp, Pompey Codes Enforcement Officer Jeff Cooke, Pompey Town Clerk Ann Christmas, and Manlius Chamber members ...More info on site

Brewery news USA, MO: Bluewood Brewing to open full-scale microbrewery in Saint Louis in Q1 2019
Six years after brewing their first beer, the owners of Bluewood Brewing have announced the opening of a full-scale microbrewery at 1821 Cherokee Street in the former Lemp brewery stables building, nextstl.com reported on October 14.

“Lease signed, and paperwork and approvals all underway… we have chosen our home as the old “Corner Gates” a.k.a the former “STL Stable” brewery! It is a beautiful property that neighbors the “Grand Hall ” being part of the Lemp historic properties. We are honored to be able to move into one of the most historic properties in the St. Louis area! The official address is 1821 Cherokee Street, and we could not be more excited to become part of the rich culture and history that thrives in the Cherokee district,” the company said.

Bluewood Brewing specializes in in artisan barrel-aged beers and wild fermentation ales. The brewery will be the 2nd to open on Cherokee, joining Earthbound Brewing which opened last year in the former Cherokee Brewery building.

The grand opening is planned the first quarter of 2019.

Brewery news USA: Heineken to launch nonalocoholic Heineken 0.0 across the US
Heineken will soon launch a nonalcoholic version of its namesake beer in the U.S. as consumers seek out healthier options, CNBC reported on October 11.

In January, Heineken will introduce Heineken 0.0 (pronounced zero zero) nationwide. Heineken, the world's second-largest brewer, first launched the beer in Barcelona in May 2017 and has since rolled it out in more than 30 countries.

Consumers are increasingly shunning beer and instead drinking wine, spirits and hard seltzers, which they perceive as healthier than beer. Others are drinking less and some are dropping alcohol altogether. Heineken thinks it can reinvigorate the beer category if it can give people more opportunities to drink it.

"It's not about a replacement strategy, it's complementary," said Jonnie Cahill, chief marketing officer of Heineken USA. "Sometimes I drink Heineken. Sometimes I drink Heineken 0.0. ... So what we see happening is that this is in addition to our own Heineken position. We see this as an 'and' not an 'instead of purchase.'"

The U.S. market for nonalcoholic beer has been relatively small, with Anheuser-Busch InBev's O'Doul's being the most well-known brand. But it and other nonalcoholic beers have become somewhat stigmatized. Heineken hopes to market 0.0 as similar to traditional Heineken just without ...More info on site

Brewery news Canada, BC: Yellow Dog Brewing to open second brewery in Penticton
The owners of Yellow Dog Brewing in Port Moody, British Columbia have announced plans to open a second brewery next year in the Oakanagan Valley, the Canadian Beer News reported on October 12.

Neighbourhood Brewing is being established in Penticton by the founders of Yellow Dog and several other partners, with the intention to replicate the core model of the original company, i.e. “a family run brewery, with strong morals and values, putting out high quality beer for the community to enjoy.”

Set to be located at 187 Westminster Ave. – just around the corner from Bad Tattoo Brewing – Neighbourhood Brewing will share more than just owners with Yellow Dog as Darren Binnema, the current lead brewer at the Port Moody brewery, will be relocating to oversee brewing at the new facility.

Neighbourhood Brewing is planned to open sometime in 2019.

Brewery news USA, CA: Toolbox Brewing closes down
Few small breweries have dared to be as different from the get-go as Toolbox Brewing. When the Vista business opened in 2014, its owners, Amanda Elder and Spencer Peters, aimed to operate a 100% wild operation. To help with that daunting task, they brought on a homebrewer with a passion and skillset in that area, Peter Perrecone. Despite little professional experience and a difficult mission, Toolbox generated great buzz early on, making its way into national publications with mentions of its masterful sour beers. But a series of unfortunate events over the past three years ultimately proved too difficult to overcome, leading to Elder’s and Peters’ announcement on October 12 that Toolbox will be closing.

“Nobody wants to write this letter. It is not an easy thing to do, to put into words how you truly feel about a situation. But, here we are. And it is with great sadness that we have to announce that Toolbox is closing,” they wrote on the company’s Facebook page. “We have invested a lifetime of savings, blood, sweat and tears into Toolbox. We have fought the good fight but there comes a time to move on and accept your wins and losses graciously.”

After its ...More info on site

Brewery news World: Global warming could cause shortage of beer
Global warming poses a serious threat to our current way of life, a new UN climate report found. And now it looks like it will cause a shortage of beer in the process, the Fortune reported on October 15.

A new study published on October 15 in the journal Nature Plants says that global warming will cause a decrease in barley crops, leading to a shortage of beer and causing a price hike. Barley is susceptible to drought and heat, and the extreme weather conditions in the coming years associated with global temperatures rising could trigger a 16% decline in global beer consumption, Business Insider reported.

“The aim of the study is not to encourage people to drink more today,” Dabo Guan, a co-author of the study and a professor of climate change economics at the University of East Anglia, told CNN. Instead, the researchers provided a tangible example of how global warming will impact quality of life by showing its effects on a favorite beverage of the working class: Beer.

Beer prices could double worldwide and the U.S. could see 20% decline in beer consumption—that’s about 10 billion cans of beer. Places like Ireland could see a price hike on beer of ...More info on site

Brewery news UK: Beer duty tax rise to add extra £125 mln on beer spend
A 2% rise in beer duty at next month’s November Budget would mean an additional £125 mln on what UK consumers are already spending annually on pints of beer, The Morning Advertiser reported on October 15.

According to CGA, the number of pints of draught beer sold in the on-trade in 2017 was 3,128,113,278.

If beer duty is not frozen in November, the cost of a pint could rise by 4p and so based on the number of pints sold last year, this means drinkers would be spending £125,124,531 more.

Chancellor of the Exchequer Philip Hammond announced a freeze in beer duty in last year's Autumn Budget, which he said was backing great British pubs.

However, figures from the Campaign for Real Ale, which were released in March this year found that 18 pubs a week are closing due to a triple whammy of high beer duty, rising business rates and VAT.

Health campaigners have argued that beer duty should rise and the money raised from the tax increase should be spent on the NHS, police forces and alcohol treatment services.

British Beer & Pub Association chef executive Brigid Simmonds told The Morning Advertiser that pubs benefit people’s health by combatting loneliness and being part of ...More info on site

Barley news Australia: Malting barley exports up 29% in September
Australia exported 30,668 tonnes of sorghum in August, down 74 per cent on the July total of 119,487 tonnes, and feed barley shipments also took a tumble to 89,838 tonnes, down 33pc from 134,728t shipped in July, according to the latest export data from the Australian Bureau of Statistics (ABS).

This reflects dwindling supplies and strong demand from Australia’s drought-stricken eastern states, which has seen users of sorghum and feed barley in Queensland and NSW bid up strongly to keep the grain away from export.

Malting barley shipments bucked the downtrend, rising 29pc over August to 151,982 tonnes from 118,151 tonnes in July.

Brewery news Ireland: No-deal Brexit could hike up alcohol prices
A no-deal Brexit could hike up Ireland’s booze prices, experts have warned.

The Alcohol Beverage Federation of Ireland said running costs of distilleries would increase which could lead to dearer pints in the pub.

Industry experts say 23,000 trucks in the booze industry cross the border every year – all of which face being hit with massive tariffs if negotiations don’t go well.

The impending levies could be as high as €93 per tonne of barley or €131 per tonne on malt.

Federation chief Patricia Callan said: “Tariffs would add significant costs to Northern Irish whiskey distilleries and breweries buying barley and malt from Ireland, to Irish craft distilleries and breweries buying specialist malts from the UK and to Irish cider producers buying apples from Co Armagh.

“Similarly, tariffs on finished cider products would damage the cost competitiveness of Irish and Northern Irish cider producers, threatening sales and jobs.

“We also need to avoid divergence on VAT. Drinks producers in border counties have, at any one time, up to 40 ‘live’ suppliers on the other side of the border.

“If there was to be no Brexit agreement on VAT, then, for the first time since 1993, an import VAT charge could become payable up-front at the point ...More info on site

Brewery news World: Diageo launches and prices three-tranche €2 billion of fixed rate euro denominated bonds
Diageo, a global leader in beverage alcohol, has launched and priced €2 billion of fixed rate euro denominated bonds under its European Debt Issuance Programme. The issuer of the bonds will be Diageo Finance plc, with payment of principal and interest fully guaranteed by Diageo plc, WebWire reported on October 16.

The issue consists of €900 million bonds due October 2021 with a coupon of 0.250%; €600 million bonds due April 2025 with a coupon of 1.000%; and €500 million bonds due October 2027 with a coupon of 1.500%. Proceeds from this issuance will be used for general corporate purposes.

Citigroup Global Markets Limited, Deutsche Bank AG, London Branch, HSBC Bank plc, Morgan Stanley & Co. International plc and NatWest Markets Plc are joint book-running managers.

Brewery news India: United Breweries’ shares fall 3% after CCI raid
Shares in India’s United Breweries Ltd fell as much as 3 percent on October 12, a day after a report said the brewer and two global rivals had been raided in India as part of an investigation into price-fixing allegations.

Reuters reported on October 11 that the Competition Commission of India (CCI) conducted search and seizure operations at the offices of India’s United Breweries (UB), Denmark’s Carlsberg and the world’s largest brewer Anheuser-Busch InBev (AB InBev) in at least two Indian cities.

Shares in United Breweries’ (UB), known for its Kingfisher brand, closed down 1.3 percent in Mumbai, as the broader market rose 2.3 percent on October 12.

Investors and analysts said UB shares were hit by fears that the CCI raids could result in penalties and potentially dent profits in future.

“This is a highly regulated market and these are global players. So, allegations of price-fixing are extremely worrying for us,” said the head of a fund that owns UB shares, who asked not to be named due to company policies.

United Breweries did not respond to requests for comment.

The beer market in India is estimated to be worth nearly $6.85 billion in 2018, according to research firm Euromonitor International, and is expected to ...More info on site

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