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E-Malt.com Newsletter 41a
October 09 - October 11, 2023

Quote of the Week

The greatest weapon against stress is the ability to choose one thought over another.
William James

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Currency Rates

Base Currency: US Dollar
on October 11, 2023
Base Currency: Canadian Dollar
on October 11, 2023
      1 USD = 0.9443 EUR
1 USD = 0.8157 GBP
1 USD = 1.3588 CAD
1 USD = 1.5584 AUD
1 USD = 148.7420 JPY
1 USD = 5.1021 BRL
1 USD = 99.8273 RUB
1 USD = 7.2572 CNY
      1 CAD = 0.7359 USD
1 CAD = 0.6003 GBP
1 CAD = 0.6949 EUR
1 CAD = 1.1467 AUD
1 CAD = 109.4510 JPY
1 CAD = 3.7543 BRL
1 CAD = 73.4575 RUB
1 CAD = 5.3402 CNY

Currency Rates Chart

Equities of the Largest Breweries

Equities of the Largest Breweries

North America News
Brewery news USA & Mexico: People in the US more likely than ever to opt for a Mexican beer or tequila ...Click here
Brewery news USA, VA: Honor Brewing Company officially opens its doors in Loudoun ...Click here
Brewery news USA, IL: Bearded Owl Brewing planning to close ...Click here
World News
Brewery news Japan: Sapporo to conduct strategic review of business ...Click here
Barley news Australia: Barley exports down 4% in August ...Click here
Hops news Europe: Climate change threatening cultivation of aromatic hops in Europe, study says ...Click here
Barley news UK: Malting barley premiums over feed still historically high ...Click here
Brewery news UK: Molson Coors to invest £10 million in its Tadcaster brewery ...Click here
Malt news Ireland: Echlinville Distillery planning to revive historic Ards Maltings operations ...Click here
Brewery news Malaysia: Excise duty hike unlikely for local brewers - CGS-CIMB Research ...Click here
Brewery news Japan & South Korea: Japan’s Asahi takes third place in Korea’s beer market ...Click here
Brewery news Vietnam: Brewer Sabeco appoints new general director ...Click here
Graph of the Week

Table of the Week

World Barley Trade

Table of the week.

Prices Evolution

Prices evolution

Barley Prices

Theoretical Malt Prices

These Days in Business History

09 October
1930 - 1st synthetic detergent, "Dreft" by Procter & Gamble, goes on sale
1946 - 1st electric blanket manufactured; sold for $39.50
1979 - 1st consumer use of home banking by computer (Knoxville Tn)

10 October
1993 - Paolo Gucci, entrepreneur/accessories designer, dies at 64
1995 - Robert E. Lucas awarded Nobel Prize in economics
2006 - Google buys YouTube.com for $1.6 billion

11 October
1617 - Franchois Vranck, economist/writer (Deduction), dies at about 62
1844 - Henry John Heinz is born. He founded the H. J. Heinz Company
1868 - Thomas Edison patents his 1st invention: electric voice machine
1887 - A. Miles patents elevator


October 2023:
09 - 10: 107 VLB October Convention 2023 (Seestrasse 13, 13353 Berlin, Germany)
10 - 12: International Beer Strategies Conference 2023 (Berlin, Germany)
11 - 15: Mondial de la Biere Rio 2023 (Rio de Janeiro, Brazil)
19 - 20: Brew Asia 2023 (Ho Chi Minh City, Vietnam)
19 - 21: Warsaw Beer Festival 2023 (Warsaw, Poland)
20 - 21: Salon du Brasseur 2023 (Parc Expo Nancy, France)
21 - 23: Whisky Live Paris 2023 (Paris, France)

November 2023:
28 - 30: Brau Beviale 2022 (Nuremberg, Germany)

December 2023:
06 - 08: Drink Japan 2023 (Makuhari Messe, Japan)

February 2024:
01 - 02: Glug Swiss 2024 (Alte Reithalle, Aarau, Switzerland)
09 - 12: HoReCa 2024 (Athens, Greece)
18 - 21: Beer & Food Attraction 2024 (Rimini, Italy)
23 - 25: Finest Spirits 2024 (Munich, Germany)

March 2024:
13 - 15: 108 International Brewing & Engineering Congress 2024 (Groningen, the Netherlands)
13 - 14: BeerX 2024 (Liverpool, UK)
22 - 23: InnBrew 2024 (Barcelona, Spain)
22 - 24: St Malo Craft Beer Expo 2024 (St Malo, France)

April 2024:
11 - 13: KIBEX 2024 (Seoul, South Korea)
21 - 24: Craft Brewers Conference & BrewExpo America 2024 (Las Vegas, USA)
24 - 24: World Beer Cup 2024 (Las Vegas, USA)

May 2024:
20 - 26: Budapest Beer Week 2024 (Budapest, Hungary)
24 - 26: Mondial de la Biere 2024 (Montreal, Canada)
24 - 26: Cerveza Mexico Expo 2024 (Guadalajara, Mexico)
26 - 30: The Brewers of Europe Forum 2024 (Lille, France)
30 - 01 June: Craft Beer China 2024 (Shanghai, China)

June 2024:
06 - 09: Wiener Bierfest 2024 (Vienna, Austria)
11 - 13: Brasil Brau 2024 (Sao Paulo, Brazil)

August 2024:
08 - 10: VIETFOOD & BEVERAGE - VIETNAM 2024 (Saigon Exhibitions and Conventions Center, 799 Nguyen Van Linh Street, District 7, HoChiMinh City, Vietnam)

September 2024:
14 - 15: Bruges Beer Festival 2024 (Bruges, Belgium)

More events are available on site e-malt.com

News Articles

Brewery news USA & Mexico: People in the US more likely than ever to opt for a Mexican beer or tequila
People in the U.S. are drinking less alcohol than they used to, but when they do indulge, they’re more likely than ever to opt for a beverage originating from Mexico, CNBC reported on October 8.

The U.S. is the largest market for Mexico’s agave-based spirits and its top beers. In recent years, Mexican brands have begun to dominate the U.S. alcoholic beverages industry as drinkers develop a thirst for premium-priced products with authentic backstories.

Last year, Mexico’s native agave-based spirits tequila and mezcal overtook American whiskey to become the second-fastest growing spirits category by revenue and volume within the U.S., according to analysis by the Distilled Spirits Council of the United States, an industry trade association. In 2022 alone, nearly 30 million 9 liter cases of tequila and mezcal were sold in the U.S.

Experts say the segment is poised to pass vodka in 2023 to become the country’s fastest-growing spirits category in terms of volume.

“Tequila has been such a national treasure here in Mexico,” said Guilherme Espagnoli Martins, global brand director of Diageo-owned Don Julio Tequila. “Now, it’s breaking through geographies and flying to other countries as well.”

“It’s putting Mexico on the map,” he said.

The rise of Mexican alcoholic beverages into the ...More info on site

Brewery news USA, VA: Honor Brewing Company officially opens its doors in Loudoun
The new Honor Brewing Company in Loudoun has officially opened its doors. The powers-that-be skipped the planned soft opening and “just went for it”, The Burn reported on October 6.

Honor Brewing includes a huge brewing area visible through big floor-to-ceiling windows. But for the typical customer, the large bar and restaurant is the real attraction.

With 16 beers on top inside and outside, a full restaurant menu, and seating for some 350 guests, Honor Brewing is a major new entry into the local restaurant and brewery scene.

Brewery news USA, IL: Bearded Owl Brewing planning to close
After nearly six years in business, Bearded Owl Brewing is planning to close, the Journal Star reported on October 9..

The business, located at 112 State St. in Peoria, made the announcement Oct. 9, but added it will remain in operation into November "as long as the beer is still flowing from our taps."

"We would love to see all of you one more time to have some fun and share some good vibes, so make sure to stop in to say hello and grab a pint of your favorite beer," the business wrote in its announcement. The brewery originally opened in late January of 2018.

Bearded Owl Brewing did not give a reason for the closure but stated, "There are no regrets." The brewery thanked all of the people who have supported the business over the years, noting that it has been "an absolute privilege" to serve the area.

"All things must pass," the business wrote. "For everything, there is a beginning, a middle, and an end. We’ve reached the end my friends."

The announcement did not list a final day but asked customers to stay tuned for updates.

Brewery news Japan: Sapporo to conduct strategic review of business
Sapporo Holdings said on October 11 it had set up a committee to conduct a strategic review of the business as the Japanese beer group comes under pressure from shareholders dissatisfied with stagnant growth, Reuters reported.

The committee consists of five Sapporo directors and two external experts: Takehiko Ogi, former managing director of the now defunct government-run Industrial Revitalization Corp of Japan, and Ryotaro Fujii, senior adviser at private equity firm Permira, a company spokesperson said.

The company flagged it was setting up a committee in August, but revealed the details only after one of its shareholders, 3D Investment Partners, released a statement on October 11 welcoming the launch.

3D, which owns 3.05% of Sapporo according to LSEG data, has criticised the company for what it said was an undue focus on the real estate business, as well as suboptimal capital allocation which 3D said hinders growth in the core alcoholic beverage business.

According to 3D's statement, Sapporo "acknowledged" that accepting proposals from potential acquirers for the real estate business would be effective, and that "the committee's remit includes a fundamental review of its business portfolio, including the possible sale or spin-off of its real estate business".

The Sapporo spokesperson confirmed the committee was established ...More info on site

Barley news Australia: Barley exports down 4% in August
Australia exported 350,477 tonnes of barley in August, down 4 percent from 364,954t shipped in July, according to the latest data from the Australian Bureau of Statistics.

While August feed barley exports of 256,151t are down 11pc from the July total of 288,226t, malting shipments at 94,326t are up 23pc on the month.

As expected, August figures reflect China’s return to the market, and for the first time since 2020 it has appeared as a destination for malting as well as feed barley.

On feed barley, Japan on 166,427t was the major destination for August exports, followed by Vietnam on 78,732t and Taiwan on 3826t.

China on 54,188t was the top destination for malting exports, followed by Mexico on 33,000t and Vietnam on 3513t.

Sorghum exports were little changed in August, with 274,555t shipped, down 2pc from 280,837t in July.

China remains the dominant market for sorghum, and was the destination for 237,459t, or 86pc, of August shipments.

Japan on 31,585t and Taiwan on 3990t were the second and third-largest destinations respectively for Australia’s August sorghum exports.

Flexi Grain pool manager Sam Roache said feed barley exports were slightly lower for August, limited by traders and growers holding back from sales in the preceding months waiting for China’s ...More info on site

Hops newsEurope: Climate change threatening cultivation of aromatic hops in Europe, study says
Climate change threatens the cultivation in Europe of aromatic hops which gives beer its bitterness, according to a study published on October 10 in ...More info on site

Barley newsUK: Malting barley premiums over feed still historically high
UK average spot ex-farm prices show the premium for bread milling wheat over feed wheat, and the premium for premium malting barley over feed ...More info on site

Brewery news UK: Molson Coors to invest £10 million in its Tadcaster brewery
Molson Coors Beverage Company has announced plans to invest £10 million in its Tadcaster brewery, in order to increase production capacity and efficiency, and reduce emissions, the Drinks Retailing News reported on October 10.

The investment programme, scheduled to take place over the next two years, will increase the brewery’s capacity to produce beers including Carling, Coors, Madri Excepcional and Worthington’s, using “more advanced, energy-efficient equipment”.

The Tadcaster Tower Brewery counts around 100 employees in roles covering engineering, quality, warehousing, brewing and kegging, health and safety, support functions and site management.

Stephen Moore, brewery director, said: “Carbon dioxide is released during the beer fermentation process, but instead of entering the atmosphere, we will soon be able to recover and transfer carbon dioxide within the brewery before it’s purified and compressed into a liquid for storage.

“From there it will be turned back into gas to be used in the packaging process, where it will be injected into the fermented product, giving our beer its signature fizz. This will make us more self-sufficient and play an important part in reducing our emissions."

Malt news Ireland: Echlinville Distillery planning to revive historic Ards Maltings operations
The Echlinville Distillery has announced a £5 million investment to acquire the former Ards Maltings building in Co Down, with plans to malt barley on an industrial scale at the historic Ards Peninsula site, Irish News reported on October 10.

Launched over a decade ago by Shane Braniff, Echlinville became the north’s first licensed distillery in over 125 years, distilling its first spirit in 2013.

Alongside the historic Dunville’s Irish whiskey brand, the Kircubbin distillery has also revived Old Comber, and makes the popular Jawbox Gin.

Mr Braniff said while his team currently floor malt their barley on the distillery farm, the latest development will enable Echlinville to malt barley on an industrial scale.

He said it makes it the only distillery on the island of Ireland with the capacity to produce, malt, ferment and distil its spirit from field to glass.

Ards Maltings was once one of Ireland’s largest malting houses, supplying malted barley to distilleries and breweries across the island.

The site, which has planning approval for a residential scheme, was previously marketed by Simon Brien estate agents with a guide price of £1.35m.

Echlinville, backed by Bank of Ireland UK, have now announced their purchase.

“We’ve always been proud of our roots here in the ...More info on site

Brewery news Malaysia: Excise duty hike unlikely for local brewers - CGS-CIMB Research
CGS-CIMB Research does not expect excise duty hikes for beer in the upcoming Budget 2024, scheduled for October 13, the New Straits Times reported on October 11.

The research firm said a further increase in duties may have a negative impact on tax revenues as it could spur illicit activities such as smuggling.

The firm noted that the Confederation of Malaysian Brewers Bhd said the country already has high excise duties, the second highest globally.

"As a mitigating factor, we note that in four out of the last five instances of tax hikes, both Heineken Malaysia Bhd's and Carlsberg Brewery Malaysia Bhd's shares were up three months after hikes in duties were announced.

"In 2016, it took between 4-6 months for the market to factor in the fact that beer consumption is largely inelastic and for share prices to post positive returns," CGS-CIMB Research said in a report.

Interestingly, CGS-CIMB Research's analysis of the monthly share price performances of Carlsberg Malaysia and Heineken Malaysia suggests that investors seek entry points into these shares in the fourth quarter (Q4) of this year.

Heineken Malaysia showed an average 13.1 per cent return from October to February between 2017 and 2023, while Carlsberg Malaysia has delivered an average of ...More info on site

Brewery news Japan & South Korea: Japan’s Asahi takes third place in Korea’s beer market
Amid a recent increase in Japanese beer imports to Korea, Japanese beer brand Asahi took third place in the Korean beer market (retail sales) in July, surpassing Hite Jinro’s Kelly, BusinessKorea reported on October 7.

Asahi’s retail sales reached 27.76 billion won (an 8.09 percent share) in July, the third highest among beer brands, according to Korea Agro-Fisheries Trade Corp. (aT)’s food industry statistics on Oct. 5.

First place went to OB Beer’s Cass, with sales of 126.228 billion won (a 36.79 percent share). Hite Jinro’s Terra picked up second place by posting 37.359 billion won in sales and a 10.89 percent share.

Kelly which Hite Jinro launched in April came in fifth with 13.278 billion in sales in May and third with 26.169 billion won in sales in June, but slipped to fourth in July.

Asahi was not even in the top 10 in July 2022 but it moved up to No. 9 in March and then to No. 3 in July. Its July sales surged 698.85 percent compared to a year earlier.

July 2023 saw a surge in Japanese beer imports, reaching a July high. According to Korea Customs Service’s trade statistics, Japanese beer imports in July reached 7,985 tons, up 239.0 percent ...More info on site

Brewery news Vietnam: Brewer Sabeco appoints new general director
The Saigon Beer – Alcohol – Beverage Corporation (Sabeco) on Friday, October 6 announced the appointment of Lester Tan Teck Chuan as its new general director, VnExpress International reported.

Lester Tan, a Singaporean national, has worked over 28 year in the beer, spirits, and beverage industry across various Asian markets, including Thailand, Myanmar, Mongolia, and Singapore.

He served as the Chief of Beer at ThaiBev PLC, overseeing Thailand's beer market from 2020 to 2023. He also held CEO positions in beer and beverage businesses in Mongolia, Myanmar, and Thailand.

In the period spanning 2022 to 2023, Sabeco expanded the capacity of the Bia Sai Gon Quang Ngai Brewery to 250 million litres per year.

In 2022, it recorded VND34.9 trillion (US$1.43 billion) in net revenue and VND5.5 trillion in profit after tax, marking a remarkable increase of 32% and 40% compared to 2021, respectively.

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