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E-Malt.com Newsletter 39a
September 26 - September 28, 2022
Quote of the Week
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Currency Rates
Base Currency: US Dollar
on September 28, 2022 |
Base Currency: Canadian Dollar
on September 28, 2022 |
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1 USD = 1.0395 EUR
1 USD = 0.9292 GBP
1 USD = 1.3705 CAD
1 USD = 1.5467 AUD
1 USD = 144.5670 JPY
1 USD = 5.3759 BRL
1 USD = 58.6523 RUB
1 USD = 7.1674 CNY
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1 CAD = 0.7295 USD
1 CAD = 0.6779 GBP
1 CAD = 0.7584 EUR
1 CAD = 1.1283 AUD
1 CAD = 105.4650 JPY
1 CAD = 3.9219 BRL
1 CAD = 42.7883 RUB
1 CAD = 5.2288 CNY
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Currency Rates Chart
Equities of the Largest Breweries
Canada, AB: Best of Kin Brewing launches in Calgary
...Click here
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USA, WI: Eagle Park Brewing Company announces acquisition of Milwaukee Brewing Company
...Click here
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USA, LA & FL: Urban South Brewing buying Florida-based Perfect Plain Brewing Company
...Click here
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Ukraine: Beer production down by 31.6% in January – August
...Click here
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World: Study identifies the world’s top whisky-consuming countries
...Click here
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Vietnam: ThaiBev well-positioned to reclaim its lead in Southeast Asia through Sabeco
...Click here
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Thailand: ThaiBev committed to spending 5-8 bln baht on expansion
...Click here
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World: Grain production and carryover stocks revised upward
...Click here
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EU: Barley production forecast up due to positive results in Germany and Denmark
...Click here
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India: AB InBev looking to enter India’s spirits market
...Click here
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UK: Government abolishes proposed increase in duty rates for beer, cider, spirits and wine
...Click here
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Argentina: Barley crop forecast remains at 5.3 mln tonnes
...Click here
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Russia: EU’s crop monitoring service raises Russia’s barley, wheat forecasts
...Click here
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UK: Beer prices likely to rise again as pound slumps to record low versus USD
...Click here
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South Korea: Diageo to revoke Windsor whisky management rights given to Bayside Private Equity and Metis Private Equity
...Click here
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Ireland: Irish brewers worried by new health warning considered for beer bottles worries
...Click here
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Nigeria: John Masunga appointed as the new CEO of Guinness Nigeria
...Click here
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Graph of the Week
Table of the Week
Slovenia Hops Area, Yields, and Production 2019-2021
Prices Evolution
Barley Prices
Theoretical Malt Prices
These Days in Business History
26 September
1404 - Brussels Brabants/Limburgse audit-office established
1680 - Tax revolt in Gorinchem due to tax on cereal
1786 - England & France sign trade agreement
1972 - Norway rejects membership in European Common Market
27 September
1825 - Railroad transportation is born with 1st track (Stockton-Darlington)
1968 - France refuses UK entry into common market
1988 - US Senate votes for major federal tax code changes
28 September
1879 - Sydney Australia inaugurates steam motor tram route
1923 - Radio Times 1st published
1953 - Dutch government proclaims 5% general pay increase on Jan 1, 1954
Agenda
September 2022:
27 - 29: 3rd VLB Africa Brewing Conference (VLB Virtual Campus)
29 - 01 October: Stockholm Beer & Whisky Festival 2022 (Stockholm, Sweden)
October 2022:
04 - 06: International Beer Strategies Conference 2022 (Hilton Rome Airport, Fiumicino, Italy)
06 - 08: Stockholm Beer & Whisky Festival 2022 (Stockholm, Sweden)
06 - 08: The Great American Beer Festival 2022 (Denver, USA)
08 - 10: The International Beer Cup 2022 (Ota City, Tokyo, Japan)
12 - 15: China Brew & China Beverage 2022 (Shanghai New International Expo Centre, China)
13 - 15: Warsaw Beer Festival 2022 (Warsaw, Poland)
14 - 16: Barcelona Beer Festival 2022 (Barcelona, Spain)
21 - 23: Cerveza Mexico Expo 2022 (Mexico City, Mexico)
24 - 30: Copa Cervezas de America 2022 (Valparaiso, Chile)
27 - 28: Sea Brew 2022 (Bangkok, Thailand)
November 2022:
01 - 03: Brussels Beer Challenge 2022 (Eupen, Belgium)
22 - 23: 12th Iberoamerican VLB Symposium Brewing & Filling Technology 2022 (Uberlandia, Brazil)
December 2022:
06 - 07: 3rd VLB International Brewing Web Conference (VLB Virtual Campus)
07 - 11: Mondial de la Biere Rio 2022 (Rio de Janeiro, Brazil)
07 - 09: Drink Japan 2022 (Makuhari Messe, Japan)
07 - 09: Drink Technology India 2022 (Bombay Exhibition Centre, Mumbai, India)
February 2023:
10 - 13: HoReCa 2023 (Athens, Greece)
20 - 23: Beer & Food Attraction 2023 (Rimini, Italy)
March 2023:
08 - 11: Festival Brasileiro da Cerveja 2023 (Blumenau, Brazil)
May 2023:
07 - 10: Craft Brewers Conference & BrewExpo America 2023 (Nashville, TN, USA)
10 - 10: World Beer Cup 2023 (Nashville, TN, USA)
12 - 14: Cerveza Mexico Expo 2023 (Guadalajara, Mexico)
25 - 27: InnBrew 2023 (Barcelona, Spain)
30 - 01 June: Beviale Mexico 2023 (Mexico City, Mexico)
News Articles
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Canada, AB: Best of Kin Brewing launches in Calgary
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After a year of construction, there's a brand new Calgary brewery ready to pour for you, the Eat North reported on September 24.
Best of Kin Brewing is located on the corner of 14th Street S.W. and 10th Avenue S.W. on the cusp of the Sunalta neighbourhood and officially opened its doors on September 17. Its cozy taproom boasts a playful old-meets-new aethestic with mismatched, brightly coloured tables and chairs, and a shipping container kitchen within in a newly built commercial space with floor-to-ceiling windows.
Sunalta has become a bit of an overnight craft beer destination as of late with breweries Tailgunner Brewing Co. and Two House Brewing Company both opening in the past few months as well.
The brewery has launched with three signature brews (a western lager, a largered ale and a hazy IPA) as well as a mix of seasonal creations like the Tafelbier (table saison) and Sailor's Delight (coffee kelp stout). In terms of beer label design, Best of Kin stands a clever approach of bright white labels with simple illustrations.
An interesting element to getting the new Calgary brewery up and running with its Kinship program. The GoFundMe-style campaign presented Calgarians with opportunity to pre-purchase set amounts of gift
...More info on site
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USA, WI: Eagle Park Brewing Company announces acquisition of Milwaukee Brewing Company
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Milwaukee Brewing Company has been acquired by Eagle Park Brewing Company, according to a press release from Eagle Park issued on Monday, September 26.
The release notes that Eagle Park will acquire Milwaukee Brewing's intellectual property, recipes and branding.
Milwaukee Brewing's flagship beers will remain under production, according to Eagle Park. The only change noted by Eagle Park is a "modern, design refresh" for the Milwaukee Brewing brand.
Jake Schinker, co-owner of Eagle Park Brewing said, "We're proud to take the Milwaukee Brewing legacy forward and ensure the future of the brewery as a point of pride for our city."
Eagle Park says they are conducting an active search for a new home for the brewery in Milwaukee, and will temporarily move production of Milwaukee brewing's products to Eagle Park's Muskego and Hamilton facilities.
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USA, LA & FL: Urban South Brewing buying Florida-based Perfect Plain Brewing Company
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Urban South Brewery, the 6-year-old beer-maker based on Tchoupitoulas Street, is buying Perfect Plain Brewing Company, a small craft beer operation in Pensacola, Florida, nola.com reported on September 27.
The acquisition is the second deal by an area craft brewer in the past week, after Gayle Benson-owned Faubourg Brewing Co. said it is merging with a group of breweries owned by an Alabama-based private equity investor that will increase overall volume to five times what Faubourg was brewing.
Jacob Landry, who founded Urban South with Kyle Huling, said their acquisition — the company's first — is part of an expansion plan that includes growing sales by almost one-third next year.
"The value we know we can add is to launch (Perfect Plain) into our distribution network, and together we plan to hit 30,000 barrels in 2023," Landry said. "That would put is in or close to the top 100 craft brewers in the country."
The terms of the deal between Urban South and Perfect Plain, both private companies, was not disclosed.
Urban South, whose top-selling beer is the Paradise Park American lager label, has seen its volume grow sharply in the last three years. In 2019, it opened a second brewery and an 11,000 square
...More info on site
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Ukraine: Beer production down by 31.6% in January – August
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The first eight months of this year saw Ukraine’s beer output drop by 30.6% (as compared to the same period in 2021) to 8.39
...More info on site
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World: Study identifies the world’s top whisky-consuming countries
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A recent study has identified France, India and the US among the top Scotch whisky-consuming countries, the Augustman reported on September 27.
The global business
...More info on site
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Vietnam: ThaiBev well-positioned to reclaim its lead in Southeast Asia through Sabeco
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Thai Beverage Group will not be letting go of its "crown jewel," Vietnam's Sabeco Brewery, especially as beer consumption is recovering in the booming
...More info on site
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Thailand: ThaiBev committed to spending 5-8 bln baht on expansion
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Despite the uncertain global economic outlook, Thai Beverage (ThaiBev), the Singapore-listed food and beverage company, says it remains committed to spending 5-8 billion baht
...More info on site
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World: Grain production and carryover stocks revised upward
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Total grains production and carryover stocks for the 2022-23 marketing year were revised upward in the International Grains Council’s latest Grain Market Report released
...More info on site
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EU: Barley production forecast up due to positive results in Germany and Denmark
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The EU-27+UK barley production is forecast at 58 mln tonnes, versus 57.2 mln as at the beginning of September, RMI Analytics said in their
...More info on site
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India: AB InBev looking to enter India’s spirits market
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AB InBev, the brewer behind beers such as Budweiser, Becks and Stella Artois, is looking to enter the spirits market in India, The Drinks
...More info on site
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UK: Government abolishes proposed increase in duty rates for beer, cider, spirits and wine
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The UK government is abolishing a proposed increase in duty rates for beer, cider, spirits and wine, a move widely welcomed by the industry.
The announcement was made on September 23 in a mini-budget delivered by UK Chancellor of the Exchequer Kwasi Kwarteng, during which the Government detailed its plans to cut taxes and provide relief to inflation hit business.
Addressing the House of Commons, Kwarteng said: “I have listened to industry concerns about the ongoing reforms. I will therefore introduce an 18-month transitional measure for wine duty. I will also extend draught relief to cover smaller kegs of 20 litres and above, to help smaller breweries.”
Under the new measures, all wine between 11.5% abv and 14.5% abv will be taxed at 12.5%. The “easement” will run for 18 months from 1 August 2023 to the 1 February 2025.
Drink industry associations across the UK are welcoming the duty cancellation and the additional aid aimed at pubs and smaller brewers. Emma McClarkin CEO of The British Beer & Pub Association tweeted: “We welcome the Beer Duty Freeze and recommitment to draught discount & extension to 20L kegs for small brewers.”
Under the proposed legislation a new draught relief will be introduced, which will reduce
...More info on site
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Argentina: Barley crop forecast remains at 5.3 mln tonnes
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Light rainfall fell the past two weeks in Argentina, but the amounts are still minimal, RMI Analytics reported this month.
With the very good crop
...More info on site
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Russia: EU’s crop monitoring service raises Russia’s barley, wheat forecasts
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The European Union's crop monitoring service MARS on September 26 raised its projections for Russia's 2022 wheat crop to 95.0 million tonnes from 88.8 million tonnes forecast in June, now 25% above last year's level.
MARS projected Russia's barley crop at 21.7 million tonnes, up 2 million tonnes from its June estimate and now 18% above 2021.
It cut its forecast for the grain maize harvest to 16.4 million tonnes from 16.7 million tonnes in June, now 6% above last year.
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UK: Beer prices likely to rise again as pound slumps to record low versus USD
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The British pound has fallen to a record low against the US dollar will mean beer prices rise, a major brewery boss says, the Chronicle Live reported.
Sterling fell by more than 4% to $1.0327 early in the morning on September 26, having already fallen on Friday, September 23 following Chancellor Kwasi Kwarteng's 'mini-budget '.
The slump means the pound as its lowest rate versus the dollar since Britain adopted decimalisation in 1971. It means goods bought from the US - or, in the case of oil, paid for in American dollars - will cost more in the UK, as Brits' currency is worth less than before compared to the USA's.
One such good is hops, used in beer. While many UK breweries use mainly British hops, American hops are also imported to make beer in Britain.
Paul Davies, chief executive officer at Carlsberg Marston’s Brewing Company, has suggested the fall of the pound may cause a rise in beer prices.
He told BBC Radio 4’s Today programme that the drop was “worrying” for the British beer industry, which imports beer and hops from overseas. Breweries, bars and pubs are already facing rising costs due to energy prices and inflation.
Asked if the value of the
...More info on site
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South Korea: Diageo to revoke Windsor whisky management rights given to Bayside Private Equity and Metis Private Equity
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London-based global alcoholic beverage company Diageo plc announced on September 27 it plans to revoke the management rights of the Windsor whisky brand previously given to the Bayside Private Equity and Metis Private Equity (Bayside/Metis) consortium in South Korea, The Korea Economic Daily reported.
Diageo operates from 132 sites around the world, mainly distributing Scotch whisky and other spirits.
In March, Diageo agreed to the sale of the Windsor brand including the W series to Bayside/Metis for an aggregate consideration of 200 billion won ($140.7 million). Under the agreement, Diageo will supply Scotch whisky to the consortium for 10 years.
The alcoholic beverage behemoth claimed the Bayside/Metis consortium failed to fulfill the stipulations laid out in the contract in full and that further details are hard to disclose.
In South Korea, Diageo has two separate corporations, namely Diageo Korea and Windsor Global.
Following the split, the Windsor business in South Korea will be operated by Windsor Global, not Diageo Korea.
Windsor is considered one of the top three whiskies in the world, along with GoldenBlue and Imperial.
Industry insiders say it is unlikely for the company to pursue the Windsor business sale again in the foreseeable future.
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Belgium: More female brewers rising to prominence
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Despite beer advertisements being mainly targeted towards men, the brewing industry seems to be become more and more of a woman's game, The Brussels Times reported on September 25.
If most advertising campaigns are to be believed, beer is the preserve of men. The target audience of most alcoholic beverages are predominantly male but in fact, beer brewing especially was originally an activity carried out by women in several ancient civilisations.
Today, more and more female brewers are rising to prominence, particularly in Belgium.
Despite its modern association with masculinity, the process of making beer was actually invented by women around the fourth millennium BC in Mesopotamia. Brewing was even an activity dedicated to women in Sumerian mythology.
There was also a goddess of beer, Ninkasi. In Egypt too the deity related to this beverage was female: Menqèt. At that time, beer was brewed with barley, wheat and dates to be used for fermentation.
It became popularised in Europe among the Germans and Celts, while the Roman Empire despised beer in favour of wine.
Around the third and fourth centuries, in the Scandinavian countries, Norse law indicated that Viking women were responsible for brewing.
The incorporation of hops in cervoise, the ancestor of beer, would also be
...More info on site
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Ireland: Irish brewers worried by new health warning considered for beer bottles worries
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Tourists wooed to Ireland by the “craic” will soon be looking at dire cancer warnings on the beer they came to drink, it’s claimed, The Irish Sun reported on September 26.
New laws forcing drinks companies to issue stark cancer, liver disease and pregnancy health warnings are in the works and are currently being considered in Europe.
For Drinks Ireland beer chairman Peter Mosley, whose industry is slowly emerging from two damaging years, it’s another headache they could do without.
He told the Irish Sun: “When people come to Ireland then they will be bombarded with this message, Irish products are potentially carcinogenic, whereas their domestic beers are not.
“It doesn’t really help us in any shape or form.
“We do spend a lot of time and money marketing the drinks industry, the craic, the bars, large brands here spend a lot of time emphasising their heritage and place in Irish society.
“People do come to Ireland to enjoy that. So it is potentially counterproductive. It will be a while before we see the full impact of that.”
He also fears that by forcing label warnings on overseas producers, they might not bother with the “headache” and “send their pallets of wine somewhere else”.
Ireland stands alone on
...More info on site
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Nigeria: John Masunga appointed as the new CEO of Guinness Nigeria
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John Masunga has been appointed as the new CEO of Guinness Nigeria, a subsidiary of Diageo, The Standard reported on September 27.
A press statement says the Board of Guinness Nigeria Plc announced the appointment of Mr Musunga as its incoming Managing Director and Chief Executive Officer effective November 1, 2022.
Company Secretary Rotimi Odusola said Musunga’s appointment followed the notice of retirement of Baker Magunda who has served the company for over 23 years.
Magunda is also said to have resigned from his role as the Managing Director and member of the Board of the company with effect from October 31, 2022.
Musunga is the current managing director at Kenya Breweries Limited.
Prior to this, Musunga had a highly successful career at GSK, working at senior levels in Eastern Africa, Southern Africa and Europe.
Among other industry roles, he served as a Non-Executive Director for the Vision 2030 Board in Kenya, chaired the Kenya Association of Pharmaceuticals Industry and the Kenya HIV/AIDS Business Council
Since joining KBL, he led the business recovery through Covid-19, achieving phenomenal growth.
He has over twenty-five years' experience in senior local, regional and global roles including Managing Director and General Manager of GSK's Kenya and East Africa Business as well as the
...More info on site
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