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E-Malt.com Newsletter 13a March 28 - March 30, 2022
Quote of the Week
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Currency Rates
Base Currency: US Dollar on March 30, 2022 |
Base Currency: Canadian Dollar on March 30, 2022 |
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1 USD = 0.9049 EUR
1 USD = 0.7632 GBP
1 USD = 1.2505 CAD
1 USD = 1.3337 AUD
1 USD = 123.1770 JPY
1 USD = 4.7595 BRL
1 USD = 90.2262 RUB
1 USD = 6.3657 CNY
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1 CAD = 0.7995 USD
1 CAD = 0.6102 GBP
1 CAD = 0.7235 EUR
1 CAD = 1.0663 AUD
1 CAD = 98.4847 JPY
1 CAD = 3.8054 BRL
1 CAD = 72.1395 RUB
1 CAD = 5.0897 CNY
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Currency Rates Chart
Equities of the Largest Breweries
USA, VA: Everleigh Vineyards and Brewing Co. aims to launch in Louisa County this summer
...Click here
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USA, CA: Stone Brewing wins years long trademark battle with beer conglomerate MillerCoors
...Click here
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USA, OH: Mai Chau Kitchen and Three Tigers Brewing Company moving to former Granville fire station
...Click here
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China: Tsingtao Brewery reports 43% jump in net profit last year
...Click here
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The Netherlands, Denmark & Russia: Carlsberg and Heineken decide to quit Russia
...Click here
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EU & UK: Weather remains mostly favourable but barley production forecast drops to 60 mln tonnes
...Click here
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Argentina: Early barley 2022 production forecast is for about the same crop as in 2021
...Click here
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UK & South Korea: Diageo agrees to sell its Windsor business to private equity consortium in South Korea
...Click here
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Nigeria: Beer sector contributed $2.2 bln to Nigerian economy in 2019
...Click here
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India: United Spirits extends deadline for ‘strategic review’ of its liquor brands till May 31
...Click here
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Australia: Brewers Association disappointed by government not cutting draught beer tax in new budget
...Click here
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Nigeria: Guinness Nigeria share price increases resulting in N2.63 bln gain in market capitalization
...Click here
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South Korea: HiteJinro to beef up marketing policy for its popular beer product Terra
...Click here
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UK: Adnams warns of further beer price hikes due to situation in Ukraine
...Click here
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Graph of the Week
Table of the Week
US Beer Sales, Import, and Export 2013 - 2021
Prices Evolution
Barley Prices
Theoretical Malt Prices
These Days in Business History
28 March
1797 - Nathaniel Briggs of NH patents a washing machine
1841 - 1st U.S. steam fire engine tested, New York City
1866 - 1st ambulance goes into service
29 March
1886 - Chemist John Pemberton begins to advertise for Coca-Coke
1888 - James E. Casey is born, founder of United Parcel Service
1918 - Sam Moore Walton, future founder of Wal-Mart, is born in Kingfisher, Okla
30 March
1858 - Pencil with attached eraser patented by Hyman L. Lipman
1867 - U.S. Secretary of State William H. Seward agrees to purchase the Alaskan territories from Russia for $7,200,000
Agenda
March 2022:
29 - 01 April: 2022 World Barley, Malt & Beer Conference (Antwerp, Belgium)
31 - 02 April: InnBrew 2022 (Barcelona, Spain)
31 - 02 April: KIBEX 2022 (Seoul, South Korea)
April 2022:
23 - 24: Zythos Beer Festival 2022 (Leuven, Belgium)
May 2022:
02 - 05: Craft Brewers Conference & BrewExpo America 2022 (Minneapolis, MN, USA)
05 - 05: World Beer Cup 2022 (USA)
11 - 13: Craft Beer China 2022 (Shanghai, China)
17 - 19: Expo Antad & Alimentaria Mexico 2022 (Expo Guadalajara, Jalisco, Mexico)
19 - 22: Mondial de la Biere 2022 (Montreal, Canada)
25 - 29: Latvia Beer Fest 2022 (Riga, Latvia)
29 - 01 June: The Brewers of Europe Forum & 38th EBC Congress (Madrid, Spain)
30 - 01 June: Brasil Brau 2022 (Sao Paulo, Brazil)
June 2022:
07 - 08: Bevexpo 2022 (Manchester, UK)
07 - 08: IGC Grains Conference 2022 (London, UK)
10 - 11: Tallinn Craft Beer Weekend 2022 (Tallinn, Estonia)
12 - 14: Bangkok Brewing Conference 2022 (Bangkok International Trade & Exhibition Centre (BITEC) Bangkok, Thailand)
August 2022:
11 - 13: VIETFOOD & BEVERAGE - VIETNAM 2022 (Saigon Exhibitions and Conventions Center. 799 Nguyen Van Linh Street, District 7, HoChiMinh City, Vietnam)
September 2022:
02 - 04: Finest Spirits 2022 (Munich, Germany)
12 - 16: Drinktec 2022 (Messe Muenchen, Munich, Germany)
17 - 03 October: Oktoberfest 2022 (Munich, Germany)
21 - 22: Beverage Industry. Beer and Soft Drinks Industry - 2022 (Expocenter of Ukraine, Kyiv, Ukraine)
27 - 29: 3rd VLB Africa Brewing Conference (VLB Virtual Campus)
October 2022:
06 - 08: The Great American Beer Festival 2022 (Denver, USA)
27 - 28: Sea Brew 2022 (Bangkok, Thailand)
November 2022:
22 - 23: 12th Iberoamerican VLB Symposium Brewing & Filling Technology 2022 (Uberlandia, Brazil)
December 2022:
07 - 09: Drink Technology India 2022 (Bombay Exhibition Centre, Mumbai, India)
07 - 09: Drink Japan 2022 (Makuhari Messe, Japan)
February 2023:
10 - 13: HoReCa 2023 (Athens, Greece)
20 - 23: Beer & Food Attraction 2022 (Rimini, Italy)
News Articles
USA, VA: Everleigh Vineyards and Brewing Co. aims to launch in Louisa County this summer
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Ten years ago, Joe and Barbara Evers bought 5 acres of land off of U.S. Route 33 in Louisa County about 45 miles west of downtown Richmond. The Evers, who live in Midlothian, said their initial plans weren’t to build on it, the Richmond BizSense reported on March 29.
“It was really just for entertainment: riding ATVs, camping, that type of stuff,” Joe said.
But after getting some soil samples done, he decided to take his longtime hobby of wine collecting to another level by seeing if he could successfully cultivate the land.
“I thought it’d be a (fun) challenge to grow grapes in that part of Virginia and try to make some excellent wine,” he said.
This summer, eight years after first planting grapevines, the Evers are aiming to open the fully-realized version of his vision: Everleigh Vineyards and Brewing Co.
Located at 9625 Jefferson Highway in the town of Mineral, Everleigh will offer wine, beer and cider out of a tasting room that’s currently under construction.
From vines planted in 2014, Evers said they began selling Everleigh wines a year ago by contracting with Charlottesville-based winemaker Michael Shaps to produce it using Everleigh grapes. Shaps also makes wines for a handful of other Virginia
...More info on site
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USA, CA: Stone Brewing wins years long trademark battle with beer conglomerate MillerCoors
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San Diego-based craft brewer Stone Brewing, an early leader during the explosion of craft beer in the early 2000s, won its years long trademark battle with beer conglomerate MillerCoors – now known as Molson Coors – on March, 25, the Courthouse News Service reported.
An eight-member jury unanimously awarded Stone Brewing $56 million in damages following a three-week trademark infringement trial over MillerCoors’ use of the craft brewer’s “stone” trademark to advertise and market the rebranded Keystone Light economy beer in 2017.
Stone Brewing had asked jurors for a $216 million award for past and future losses and to cover the costs of a corrective advertising campaign to do damage control to the consumer confusion caused by having two beers on store shelves with the name “stone.”
Shortly after the verdict, Stone Brewing tweeted out a single letter: “W.”
“MolsonCoors threatened our heritage, but we stood up to that threat,” said Stone Brewing co-founder Greg Koch in a written statement. “They will put the ‘Key’ back in ‘Keystone’ ending their hostile 4-year co-op of the Stone name. Cheers to our legions of fans, friends and supporters who believe in the good that craft beer brings.”
Jurors were asked to determine whether there was trademark infringement
...More info on site
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USA, OH: Mai Chau Kitchen and Three Tigers Brewing Company moving to former Granville fire station
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It seems Mai Chau Kitchen and Three Tigers Brewing Company were destined to move into the former downtown fire station, The Newark Advocate reported on March 29.
In the early days of the restaurant and brewing company's tenure on North Prospect Street, co-owners Lonnie Hill, Rick Moller and Scott Wilkins would look at the building across the street while at the bar during happy hour and dream about purchasing it once the Granville Fire Department's new home was complete on Main Street.
"It was always something we had in the back of our mind," Wilkins said.
Now their dream is almost a reality. After an extensive remodel, finishing touches are being done at the restaurant and brewery's new home. The new location will be fully operational April 1, Wilkins said.
Hill said the community's support of the two businesses has been so strong that they have continued to grow — even through the COVID-19 pandemic — and their two locations we're no longer big enough. Limited space for fermenter tanks meant they couldn't brew additional beer, and they couldn't expand the menu because of a cramped kitchen.
"If we were going to take the next level, we needed a new spot. It couldn’t be
...More info on site
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China: Tsingtao Brewery reports 43% jump in net profit last year
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Tsingtao Brewery, China's No. 2 beer maker, reported a 43% jump in net profit to a record 3.1 billion yuan ($486 million) last year,
...More info on site
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The Netherlands, Denmark & Russia: Carlsberg and Heineken decide to quit Russia
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Brewing giants Carlsberg and Heineken said on March 28 they would quit Russia, joining an exodus of Western companies as pressure grows on Moscow
...More info on site
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Japan: Beer sales battle intensifying in Japan
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A beer sales battle is intensifying in Japan, with major makers switching their targets from restaurants to people who drink at home as demand for drinking parties and holiday outings remains sluggish amid the prolonged novel coronavirus crisis, Jiji Press reported on March 28.
Beer prices dropped following a liquor tax revision in October 2020. Sales of canned beer are growing thanks to a shift from so-called third-segment quasi-beer, for which the tax rate was raised, and robust home-related demand amid the pandemic.
In February, Asahi Breweries Ltd. fully renewed its Super Dry beer for the first time since its launch in 1987 although some in the firm had been cautious about the revamp of the flagship product, which has numerous fans.
Earlier this month, Asahi Breweries set up a special sales area for the renewed product at an Ito-Yokado supermarket in Tokyo's Ota Ward. Super Dry sales at the shop in early March jumped around 50 pct from a year before.
Kirin Brewery Co. recently renewed its Spring Valley Hojun 496 craft beer, released only last year. The company sees the move as an "opportunity for regrowth evolving around canned products," Kirin Brewery President Hideki Horiguchi said.
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EU & UK: Weather remains mostly favourable but barley production forecast drops to 60 mln tonnes
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Favourable weather remains the story across most of Europe with a continuation of above normal temperatures in most of Western Europe, RMI Analytics said
...More info on site
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Argentina: Early barley 2022 production forecast is for about the same crop as in 2021
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Concerning news for Argentina’s farmers was the government’s move to raise further the export tax rates for soybean products (meal and oil). Export taxes
...More info on site
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UK & South Korea: Diageo agrees to sell its Windsor business to private equity consortium in South Korea
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Diageo has agreed the sale of its Windsor business (blended Scotch whisky brand) to the private equity group Bayside Private Equity and Metis Private Equity consortium, The Drinks Business reported on March 25.
The KRW 200 billion (approximately £124 million) deal, which will include the W series, will additionally see Diageo supply Scotch whisky to Bayside/Metis under a 10-year supply agreement.
Diageo’s president of Asia Pacific and global travel, Sam Fischer, said: “This transaction marks the next chapter for Diageo Korea. We remain fully committed to the market and further developing our international spirits and beer business, which is being driven by premiumisation and consumer interest in categories like international whisky. We take a disciplined approach to capital allocation and this sale is very much in line with our track-record of active portfolio management. We are grateful to our Diageo Korea employees for all their dedication and support of the Windsor business and we will work with them, the Union, our valued customers and partners, and Bayside/Metis to ensure a smooth transition.”
Bayside Private Equity for Bayside/Metis CEO, Bum Jun Kim, added: “Windsor is an important addition to our investment portfolio and allows us to participate in the dynamic Korean beverage alcohol market.
...More info on site
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Nigeria: Beer sector contributed $2.2 bln to Nigerian economy in 2019
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The Worldwide Brewing Alliance’s new report on the global economic impact of the beer sector has shown that the sector contributed $2.2 bln to the Nigerian economy in 2019, the Punch Newspapers reported on March 28.
During a webinar, the Worldwide Brewing Alliance said the report, which was produced by Oxford Economics, showed the impact of the sector on different economies.
According to the report, the global beer sector contributes to Nigeria’s economy through its domestic and international operations, as well as the worldwide supply chain.
It stated that “The global beer sector supported a $2.2 bln gross value-added contribution to Nigeria’s Gross Domestic Product in 2019. This was equivalent to 0.6 per cent of national GDP, or 73 per cent of Zaria’s economy.”
It stated that the global beer sector sustained over 309,000 jobs in Nigeria in 2019.
This was equivalent to 0.4 per cent of national employment, or 81 per cent of employment in Aba, the report added.
It stated that the global beer sector supported $526 mln in tax revenues in Nigeria in 2019, which was 1.7 per cent of government revenue.
The report said the production and consumption of beer had reached all parts of the global economy.
For the first time, the report
...More info on site
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India: United Spirits extends deadline for ‘strategic review’ of its liquor brands till May 31
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Diageo-controlled United Spirits Ltd (USL) on March 29 said it has extended the deadline to complete the "strategic review" of its select popular liquor brands till May 31, 2022, ETRetail.com reported.
The company had earlier set the deadline of March 31, 2022 to complete the review process.
"The strategic review of selected popular brands initiated by the company on February 23, 2021 to consider all options to deliver sustainable long-term profitable growth is ongoing. The review is expected to be completed by May 31, 2022," USL said in a regulatory filing.
Earlier, USL had said the strategic review was "expected to be completed by the end of the calendar year 2021".
On December 27, 2021, it had extended the deadline by three months till March 31, 2022.
This review process does not cover the McDowell's or Director's Special trademarks, USL had said earlier.
USL's popular portfolio comprises around 30 entry-level lower-priced liquor brands, with an average price less than Rs 400 for a 750-ml bottle, and straddle whisky, rum, brandy, vodka and gin.
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Australia: Brewers Association disappointed by government not cutting draught beer tax in new budget
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Commenting on Australia’s newly announced Federal Budget, John Preston, CEO of the Brewers Association, said:
“We’re extremely disappointed that the Federal Government has not cut draught beer tax in the Budget.
“Australia has the 4th highest beer tax rate in the world and in refusing to address this the Government has ignored calls from pubs, clubs and Australia’s 11 million beer drinkers. The Government has endorsed its continued twice yearly beer tax increases which will mean that next year Australians will be paying the third highest beer taxes in the world.
“This is not sustainable for pubs and clubs. It’s also not fair for everyone who enjoys the great Australian pastime of a having a beer with their friends at their local.
“99 per cent of draught beer consumed in Australia is brewed here. The Australian beer industry supports over 100,000 jobs through its supply chain – from barley and hops production, great manufacturing jobs, and people employed in pubs and clubs throughout Australia.
“We will continue the campaign for a draught beer tax cut and will be seeking a commitment from both the Coalition and Labor at the upcoming Federal Election.
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Nigeria: Guinness Nigeria share price increases resulting in N2.63 bln gain in market capitalization
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At the end of the trading session on March 29, Guinness Nigeria Plc share price appreciated by 1.71% to close at N71.20 per share, taking the market capitalization to N155.96 billion, the Nairametrics reported.
The growth in share prices which was recorded by the FMCGs company can be attributed to investors’ positive sentiment which triggered buy-interests supporting the company’s value up by 171 basis points.
Hence, the rally in the shares of the company resulted in a gain of N2.63 billion in market capitalization at the close of trading activities on Nigeria’s stock exchange.
The shares of the quoted brewery increased from N70.00 per share at the start of the trading day to N71.20 per share, the highest price traded at the close of the market, to represent a growth of 1.71% which in monetary terms is N1.20.
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South Korea: HiteJinro to beef up marketing policy for its popular beer product Terra
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South Korea’s multinational brewer and distiller HiteJinro is set to beef up the marketing policy for its popular beer product Terra this year, targeting both the household market and entertainment venues, The Korea Times reported.
In February, HiteJinro introduced a bottle opener called "Spooner" specially designed for Terra beer bottles.
The distiller's top engineers spent three years developing Spooner, with the goal of bringing entertainment to people at drinking parties.
HiteJinro released a commercial in the form of a mockumentary video starring young physicist Kim Sang-wook, who explains how Spooner works.
The company has applied for a trademark for the bottle opener.
The device will be used as a promotional tool for Terra across the country.
HiteJinro has also introduced Terra in two new sizes ― 400 millilitres and 463 millilitres ― that are considered ideal for home drinkers.
Since the start of the pandemic, an increasing number of Koreans have taken to drinking at home, a practice less prevalent in drinking culture here than in the West, and the distiller reflected such demand by introducing smaller sizes of Terra.
HiteJinro offers five different sizes of its popular beer products, which can be purchased at large supermarkets and local grocery stores.
HiteJinro has been making great efforts in the
...More info on site
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UK: Adnams warns of further beer price hikes due to situation in Ukraine
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Suffolk-based brewer Adnams has warned that the price of beer is set rise even further due to the situation in Ukraine significantly reducing the supply of barley, The Drinks Business reported on March 29.
Fergus Fitzgerald, the production director based in Southwold, has been with the company for 18 years, and told The Telegraph that the situation would be difficult “for some time”.
Although Adnams sources all of their barley from the UK, the global shortage is raising costs. The Russian invasion of Ukraine has worsened a situation already made dire by droughts in US centres of barley cultivation last Summer. Though the East Anglian brewery has sufficient barley for the moment, Fitzgerald warned: “when it comes to that next supply, that’s when we will start to see price increases”, pointing to the price of barley currently being 30% higher than it was a year ago.
The dramatic increase in the price of the vital beer ingredient has come at the same time as rising energy and packaging costs. Although there won’t be an immediate increase in the price of your Mosaic Pale Ale or Ghost Ship, Fitzgerald forecasts that in the third or fourth quarter, “we’ll see more of this coming through,
...More info on site
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