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E-Malt.com Newsletter 26a
June 24 - June 26, 2024
Quote of the Week
Inspiration does exist, but it must find you working.
Pablo Picasso
Currency Rates
Base Currency: US Dollar
on June 26, 2024 |
Base Currency: Canadian Dollar
on June 26, 2024 |
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1 USD = 0.9327 EUR
1 USD = 0.7881 GBP
1 USD = 1.3655 CAD
1 USD = 1.5031 AUD
1 USD = 159.5420 JPY
1 USD = 5.4148 BRL
1 USD = 87.7621 RUB
1 USD = 7.2596 CNY
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1 CAD = 0.7323 USD
1 CAD = 0.5771 GBP
1 CAD = 0.6830 EUR
1 CAD = 1.1006 AUD
1 CAD = 116.8260 JPY
1 CAD = 3.9650 BRL
1 CAD = 64.2642 RUB
1 CAD = 5.3159 CNY
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Currency Rates Chart
Equities of the Largest Breweries
Canada: 2023-24 barley supply estimated 8% down vs 2022-23
...Click here
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USA: Washington hop growers dramatically curtailing production
...Click here
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USA, CT: CoreBev announces launch of Connecticut Distilling in Waterbury
...Click here
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USA, CA: Athletic Brewing Company buys a second brewing facility in San Diego
...Click here
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World: Barley crop forecast reduced on weather concerns
...Click here
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Vietnam: Heineken to ‘temporarily suspend’ one of its Vietnam breweries as beer sales decline
...Click here
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Latvia: Beer imports reach 60% of the market in Latvia
...Click here
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EU: Barley crop forecast reduced on yield and quality concerns in France
...Click here
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Austria: Heineken’s Austrian subsidiary facing fine for alleged market abuse
...Click here
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World: Heineken places €900 million of 12-year Notes
...Click here
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UK: Carlsberg on the verge of submitting a third takeover bid for Britvic
...Click here
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South Korea: Diageo to raise prices of some of its whiskey and tequila brands
...Click here
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Australia: Lion Australia to move Boag’s beer production from Tasmania to mainland
...Click here
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Graph of the Week
Table of the Week
Italy Malt Production and Import 2010 - 2023
Prices Evolution
Barley Prices
Theoretical Malt Prices
These Days in Business History
24 June
1839 - Gustavus Franklin Swift, founded Swift and Co
1932 - David McTaggart is born, co-founder, Greenpeace
1963 - 1st demonstration of home video recorder, at BBC Studios, London
25 June
1919 - 1st advanced monoplane airliner flight (Junkers F13)
1920 - League of Nations places International head of Justice in Hague
26 June
1498 - Toothbrush invented
1919 - N.Y. Daily News begins publishing
Agenda
August 2024:
08 - 10: VIETFOOD & BEVERAGE - VIETNAM 2024 (Saigon Exhibitions and Conventions Center, 799 Nguyen Van Linh Street, District 7, HoChiMinh City, Vietnam)
17 - 20: World Brewing Congress 2024 (Minneapolis, Minnesota)
23 - 24: Beervana 2024 (Wellington, New Zealand)
September 2024:
02 - 04: 14th Iberoamerican VLB Symposium Brewing & Filling Technology (IBS) (Ciudad de Mexico (CDMX), Mexico)
12 - 14: Stockholm Beer & Whisky Festival 2024 (Stockholm, Sweden)
14 - 15: Bruges Beer Festival 2024 (Bruges, Belgium)
21 - 06 October: Oktoberfest 2024 (Munich, Germany)
28 - 30: Whisky Live Paris 2024 (Paris, France)
October 2024:
03 - 04: Brew Asia 2024 (Suntec Convention & Exhibition Centre, Singapore)
23 - 25: Drink Technology India 2024 (Bombay Exhibition Centre, Mumbai, India)
28 - 31: China Brew 2024 China Beverage 2024 (Shanghai, China)
November 2024:
22 - 22: Drink Japan 2024 (Makuhari Messe, Japan)
26 - 28: Brau Beviale 2024 (Nuremberg, Germany)
February 2025:
06 - 07: Glug Swiss 2025 (Alte Reithalle, Aarau, Switzerland)
07 - 10: HoReCa 2025 (Athens, Greece)
16 - 18: BBTech Expo 2025 (Rimini, Italy)
21 - 23: Finest Spirits 2025 (Munich, Germany)
March 2025:
03 - 07: IBD Asia Pacific Convention 2025 (Hobart, Tasmania)
12 - 15: Festival Brasileiro da Cerveja 2025 (Blumenau, Brazil)
19 - 20: BeerX 2025 (Liverpool, UK)
April 2025:
06 - 09: 15th International Trends in Brewing 'Beer & Society' 2025 (Leuven, Belgium)
10 - 12: KIBEX 2025 (Seoul, South Korea)
News Articles
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Canada: 2023-24 barley supply estimated 8% down vs 2022-23
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For 2023-24, Canadian barley supply is estimated at 9.7 million tonnes (Mt), down 8% year-over-year and 6% below the previous five-year average, Agriculture and
...More info on site
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USA: Washington hop growers dramatically curtailing production
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Washington hop growers are dramatically curtailing production amid a crushing glut and chilling demand for both craft and commercial beer, Tri-City Herald reported on
...More info on site
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USA, CT: CoreBev announces launch of Connecticut Distilling in Waterbury
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CoreBev is proud to announce the grand opening of Connecticut Distilling, its new flagship distillery located in the heart of Connecticut: Waterbury, StreetInsider reported on June 21.
"Connecticut Distilling is the culmination of years of hard work and dedication," says CoreBev founder and CEO Stelios Stavrianos. "My team and I have been waiting a long time for this moment, and we are thrilled to bring our vision to life in such a historically rich area." Stavrianos notes that the distillery will serve as the new manufacturing hub for all domestic legacy CoreBev products and will feature a tasting lounge where guests can enjoy craft cocktails.
Connecticut Distilling uses a state-of-the-art process to create its unique spirits. The team, led by master distiller Brandon Collins' expertise, uses beer from breweries all around Connecticut as a main ingredient to produce 2 out of their 5 flagship spirits. "The new adventure with Connecticut Distilling allows me to direct my talent and energy towards distilling quality, handcrafted spirits that are both innovative and sustainable, while simultaneously expanding our distribution footprint," says Collins.
Waterbury boasts a rich history in the alcohol world. During prohibition, numerous secret bars, or "speakeasies," emerged to serve local customers. The legacy of these
...More info on site
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USA, CA: Athletic Brewing Company buys a second brewing facility in San Diego
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Athletic Brewing Company has announced the purchase of a second brewing facility in San Diego, California, US, for an undisclosed sum, FoodBev Media reported on June 25.
The 107,000-square-foot brewery is located on Carroll Way, next to the non-alcoholic brewer’s existing San Diego site on Trade Street. The new facility includes 300-barrel and 150-barrel brewhouses, and will offer the versatility to produce both flagship and limited-time brews.
Athletic Brewing is planning a series of renovations and site improvements over the next 18 months. These include the installation of a new packaging line, as well as enhancements to the brewhouse, cellar and lab to meet food safety and quality requirements specific to the large-scale production of non-alcoholic beer at the company’s standards.
The company expects to begin brewing at the Carroll Way facility in late 2025. It will retain its existing Trade Street location. When the new brewery is operational, Athletic will double its US brewing capacity.
A Ballast Point taproom operated by Kings & Convicts, and connected to the Carroll Way facility, will remain open to the public during the renovation.
John Walker, co-founder and chief product officer at Athletic Brewing Company, said: “We look forward to continuing the tradition of creating amazing brews at
...More info on site
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World: Barley crop forecast reduced on weather concerns
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As a wide range of weather impacts global barley production, RMI Analytics’ latest forecast for the global barley crop 2024 has dropped by 1.3
...More info on site
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Vietnam: Heineken to ‘temporarily suspend’ one of its Vietnam breweries as beer sales decline
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Heineken has decided to “temporarily suspend” one of its breweries in Vietnam against a backdrop of declining beer sales in the country, Reuters reported
...More info on site
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Latvia: Beer imports reach 60% of the market in Latvia
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“Latvian beer industry is currently at its historically lowest point. We have gone from beer makers to beer importers,” said Latvian Society of Independent Brewers (LNAB) chairman and Labietis brewery manager Reinis Pļaviņš in an interview to LETA, adding that 60% of the beer consumed in Latvia is imported.
According to him, since 2016 Latvians drink more imported than locally brewed beer, which is completely against the interests of small brewers and the state.
“Of the 150-160 million litres consumed, 100 million litres was imported. This hurts us the most, because 150 years ago Latvia exported beer all the way to Kamchatka – the entire territory of the former Russian Empire. Riga and Latvia were basically the beer brewing centre with the biggest, most modern and most capable of export beer breweries All that’s left from then is beer bearing Latvian names imported to the country. Lielvārde, Madona, Lāčplēsis, Aldaris, partially Bauska and Mežpils – none of them are produced in Latvia,” said Pļaviņš.
He said the Baltic market is small, and brewers situate their production facilities where it is the most economically beneficial. This makes the remaining Baltic market into consumers.
“Unfortunately, in Latvia’s case two of the biggest global
...More info on site
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EU: Europeans continue historic drinking habits
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Mediterranean countries continue to be the leaders in wine drinking and northern and central Europeans prefer a beer, according to a new study of
...More info on site
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EU: Barley crop forecast reduced on yield and quality concerns in France
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Wet conditions persist across much of Europe, amidst normal temperatures. Crop ratings have improved slightly, 2RS 74% and 6RW 65% Good/Excellent but remain well
...More info on site
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Austria: Heineken’s Austrian subsidiary facing fine for alleged market abuse
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The Austrian Federal Competition Authority (BWB) has proposed imposing a significant fine on Brau Union for alleged market abuse and cartel violations, InsideBeer reported on June 18.
Brau Union is Austria's largest brewery group and owned by Amsterdam-based Heineken since 2003. The BWB's investigation revealed several infractions, including exclusive purchasing commitments, brand restrictions, bundling practices, market and customer segmentation, and strategic data sharing about competitors, which aimed to hinder rival beer producers and eliminate existing beverage distributors from the market.
According to the BWB, these actions were designed to restrict the sales opportunities and market entry of competing beer producers while driving current beverage distributors out of the market.
The investigations became public knowledge two years ago in June when it was revealed that raids had been conducted at the breweries. The BWB and Brau Union confirmed the raids at the time, although the company denied the allegations. The raids were prompted by whistleblower reports suggesting Brau Union pressured regional beverage suppliers to exclusively purchase not only beer but also wine, non-alcoholic beverages, and spirits from them. The brewery allegedly threatened to distribute beer directly if suppliers, fearing revenue losses, refused.
In response, Brau Union contested the allegations, stating they had provided comprehensive
...More info on site
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World: Heineken places €900 million of 12-year Notes
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Heineken N.V. on June 24 announced that it has successfully placed €900 million of 12-year Notes with a coupon of 3.812%.
The Notes will be issued under the Company's Euro Medium Term Note Programme and will be listed on the Luxembourg Stock Exchange.
The proceeds from the Notes issuance will be used for general corporate purposes, including debt repayments. The maturity date of the Notes is 4 July 2036.
BBVA, Citigroup, Goldman Sachs, J.P. Morgan and Société Générale acted as active book runners.
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UK: Carlsberg on the verge of submitting a third takeover bid for Britvic
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Carlsberg is on the verge of submitting a third takeover bid for Britvic after Pepsi gave the potential deal its blessing, City A.M. reported on June 24.
Over the weekend, it emerged that Pepsi had agreed to waive a change of control clause it has with Britvic.
The clause would have allowed it to unilaterally terminate its lucrative bottling agreement with Britvic and make the latter a less attractive asset to Carlsberg.
Britvic’s long-standing deal with Pepsi gives it exclusive distribution and sales rights for brands including 7up, Pepsi Max and Lipton Iced Tea until 2040.
The update comes after Carlsberg disclosed last week that it had made two takeover bids for FTSE 250-listed Britvic, which also owns the Robinsons squash brand, this month.
Both approaches were rejected by Britvic, which said its latest £12.50 per share offer “significantly undervalues” its prospects.
However, Britvic’s board said it would “consider any future proposal on its merits”. An improved third offer at a price closer to £14 per share could come as early as this week.
In a statement, Carlsberg said: “Further to the speculation in the weekend press, Carlsberg confirms that it has reached agreement with PepsiCo, Inc. whereby PepsiCo has agreed to waive the change of control
...More info on site
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South Korea: Diageo to raise prices of some of its whiskey and tequila brands
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Diageo Korea announced it will raise the price of some whiskey and tequila by about 18% from next month, mk.co.kr reported on June 24.
There are five types of items to be raised: Don Julio Blanco, Reposado, Anejo, Malt Rock 16, and Copper Dog.
Diageo Korea said, "We have adjusted the prices of some products in consideration of the consistency of our price policies with foreign countries."
Diageo Korea raised the prices of Johnny Walker Blue, Black, and Red in 2022, and also raised the prices of Johnny Walker Red, Green, 18, and Guinness Draft by 5-9% in December last year.
Meanwhile, the whiskey market, which had been in a slump for a long time due to the images of "dad's alcohol" and "cold liquor," has entered a new heyday in recent years, gaining popularity among people in their 20s and 30s. The number of overseas imports has nearly doubled in two years.
According to the Korea Customs Service's import and export trade statistics, imports of whiskey such as Scotch and bourbon increased 95.3% in two years from 15,661 tons in 2021 to 35,586 tons in 2023. It is interpreted as a result of the disappearance of prejudice against high-end alcohol and the spread of
...More info on site
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Australia: Lion Australia to move Boag’s beer production from Tasmania to mainland
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An iconic northern Tasmanian beer will move some of its beer-making operations to the mainland in response to a declining market and increased manufacturing costs, ABC reported on June 25.
Lion Australia, the parent company of James Boag's Brewery in Launceston, has revealed Boag's beers sold in mainland Australia would soon be brewed there.
But Boag's beers sold in Tasmania will still be made in the state.
Lion Australia managing director James Brindley told ABC Northern Drive it was a very difficult decision to make.
"It's a very sad decision and one we felt we couldn't avoid," he said.
"A lot of the beer produced and packed at Boag's is sent back to the mainland.
"With the ongoing decline of the beer market, the cost challenges that we're all facing and the fact we bring most of our raw materials to Tasmania and send the finished goods back, it was just a heavy cost burden that we couldn't carry anymore."
What that means is some beer production will move to the mainland.
As a result, 13 redundancies have been announced as the brewery drops from two shifts to one.
Mr Brindley said those 13 workers would be offered work at other Lions breweries.
"It's a sad day. People love this
...More info on site
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