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E-Malt.com Newsletter 29b July 18 - July 21, 2024
Quote of the Week
Someone's sitting in the shade today because someone planted a tree a long time ago.
Warren Buffet
Currency Rates
Base Currency: US Dollar on July 19, 2024 |
Base Currency: Canadian Dollar on July 19, 2024 |
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1 USD = 0.9157 EUR
1 USD = 0.7704 GBP
1 USD = 1.3688 CAD
1 USD = 1.4865 AUD
1 USD = 156.6310 JPY
1 USD = 5.5196 BRL
1 USD = 88.2326 RUB
1 USD = 7.2565 CNY
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1 CAD = 0.7305 USD
1 CAD = 0.5627 GBP
1 CAD = 0.6689 EUR
1 CAD = 1.0859 AUD
1 CAD = 114.4130 JPY
1 CAD = 4.0319 BRL
1 CAD = 64.4510 RUB
1 CAD = 5.3007 CNY
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Currency Rates Chart
Equities of the Largest Breweries
USA: Bud Light falls to No. 3 beer brand more than year after Dylan Mulvaney controversy
...Click here
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USA, PA: Iron Hill Brewery & Restaurant launches new location in Whitehall
...Click here
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USA, NV: Boulder Dam Brewing Company closing its doors after 17 years
...Click here
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World: On-trade spirits volumes drop 7.6% in the year to January 2024
...Click here
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Australia: Barley crop situation continues to improve
...Click here
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Asia: ThaiBev proposes share swap to grab a bigger stake in Asian beer market
...Click here
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China: Barley imports soar to 11.7 mln tonnes in October-May 2023/24
...Click here
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Argentina: Barley crop forecast unchanged at 5 mln tonnes
...Click here
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France & Germany: Winter barley yields and quality so far disappointing in France and Germany
...Click here
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World: Molson Coors shares target cut on slower growth outlook
...Click here
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UK: Lancaster Spirits Company opens new whisky distillery
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South Korea: Barley production hits record low this year
...Click here
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Graph of the Week
Table of the Week
Germany Hops Area 2024
Prices Evolution
Barley Prices
Theoretical Malt Prices
These Days in Business History
18 July
1743 - 1st half-page newspaper ad is published (New York Weekly Journal)
1955 - 1st electric power generated from atomic energy sold commercially
1968 - Robert Noyce and Gordon Moore establish N.M. Electronics Corp. to miniaturize electronic circuitry onto silicon chips. It soon changes its name to Intel Corp
19 July
1860 - 1st railroad reaches Kansas
1967 - 1st air conditioned New York City subway car (R-38 on the F line)
20 July
1837 - Opening of London's first major railway station - at Euston
1868 - 1st use of tax stamps on cigarettes
1903 - The Ford Motor Company ships its first car
1992 - Charles Schwab opens its "mutual fund supermarket," allowing investors to choose from hundreds of different funds without paying transaction fees, as it introduces its OneSource program
21 July
1955 - Ian Donald made his first investigation of the use of ultrasound in medical diagnosis
1969 - Astronaut Neil A. Armstrong was the first man to walk on the Moon
2011 - NASA's Space Shuttle program
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
USA: Bud Light falls to No. 3 beer brand more than year after Dylan Mulvaney controversy
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Modelo Especial, Michelob Ultra and Bud Light. Those are the recent sales rankings of the top three beers in the U.S., according to data
...More info on site
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USA, PA: Iron Hill Brewery & Restaurant launches new location in Whitehall
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Iron Hill Brewery & Restaurant (Iron Hill), one of the most award-winning breweries east of the Mississippi, will introduce the Lehigh Valley to its craft kitchen and scratch brewery at its newest location at 950 Lehigh Lifestyle Center in Whitehall, Pennsylvania, at the Lehigh Valley Mall, Craft Brewing Business reported.
Iron Hill celebrated its opening with a ceremonial first pour and ribbon cutting on July 18. The brewery and restaurant opened its doors to the public on July 13, 2024; this opening marks its 13th location in Pennsylvania and 21st overall for the concept.
Hours of operation are 11:00 AM to 10:00 PM daily. Happy Hour is offered Monday through Friday from 4:00 PM to 6:00 PM. The new brewery and restaurant, with a seating capacity of up to 400, features an on-site, glass-encased brewery and a variety of seating options ranging from cozy banquets to communal high-tops, as well as a large bar throughout the cocktail area, dining room, and patio. A signature found within each restaurant is the incorporation of local nods to the surrounding area’s history depicted on a larger-than-life mural. The Lehigh Valley mural depicts Musikfest, Bethlehem Steel, SteelStacks, and the quintessential Moravian Star against the ubiquitous Iron
...More info on site
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USA, NV: Boulder Dam Brewing Company closing its doors after 17 years
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People in Boulder City will have to drive a bit farther to get a drink, FOX5 Vegas reported on July 19.
The first and only brewery, Boulder Dam Brewing Company, is closing its doors after 17 years.
Owner Todd Cook said they were recently given a 90-day notice to leave the building. Cook says the property owners want to sell it and are asking for more than they can afford.
But it’s not as if profits were running dry.
“So far, this is our busiest year,” Boulder Dam Brewing Company owner Todd Cook said. “So to, to have midway through, you know, your business year to have to close your doors is I mean, if we can’t find a new place and it doesn’t work out, we’re leaving on a high note.”
Cook had to lay off his entire staff of 20 workers, but they’ll be the first on his list of phone calls if they do find a new location.
Cook says the current brewery will be open for drinks for a few more weeks. He didn’t give an exact date for the last day of business.
The owner has started a GoFundMe to help fund relocation of the brewery.
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World: On-trade spirits volumes drop 7.6% in the year to January 2024
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Global on-trade spirits volumes declined by 7.6% in the year to January 2024 as consumers cut their alcohol consumption, The Spirits Business reported on
...More info on site
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Australia: Barley crop situation continues to improve
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Barley crop situation continues to improve as further rains arrived across key areas in Australia, and most importantly in South Australia and western Victoria
...More info on site
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Asia: ThaiBev proposes share swap to grab a bigger stake in Asian beer market
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The Chang beer owner plans to offload part of its business and dramatically increase its stake in another famous Asian brewer, supersizing its influence
...More info on site
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China: Barley imports soar to 11.7 mln tonnes in October-May 2023/24
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Between October-May 2023/24, China imported a cumulative 37.8 million tons of corn, sorghum, and barley, setting a record for the period and nearly doubling
...More info on site
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Argentina: Barley crop forecast unchanged at 5 mln tonnes
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With Argentina’s soybean harvest complete, the path is clear for barley seeding to proceed and is estimated at 80% complete amidst further beneficial rains.
...More info on site
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France & Germany: Winter barley yields and quality so far disappointing in France and Germany
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Winter barley yields and quality so far are said to be disappointing in top European producers France and Germany. This follows persistent wet weather
...More info on site
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World: Molson Coors shares target cut on slower growth outlook
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On Friday, July 19 Piper Sandler adjusted its outlook on Molson Coors shares, reducing the price target to $57 from $69, while keeping a Neutral rating on the stock, Investing.com reported.
The adjustment follows a reassessment of the company’s performance, taking into account a weaker-than-anticipated retail momentum in the United States and the impact of the lost Pabst contract brewing, which is expected to affect the Americas segment's performance in the second quarter of 2024.
The financial institution has also factored in the effects of Molson Coors' recent debt refinancing. Although the refinancing was executed at favorable rates of 3.8%, it is anticipated to lead to a net increase in interest expenses. This is due to the expectation that more debt would have been paid down, as opposed to the reality of the refinancing terms.
In light of these developments, Piper Sandler has revised its earnings per share (EPS) estimates for Molson Coors. For the year 2024, the EPS forecast has been lowered from $5.75 to $5.50.
This includes a partial offset by a $0.14 benefit from increased share buybacks. Similarly, the 2025 EPS estimate has been decreased from $6.00 to $5.70, with a $0.23 lift factored in from additional buybacks.
The revision of the
...More info on site
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India: Bira 91 reportedly planning IPO in 2026
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B9 Beverages Ltd, which owns craft beer brand Bira 91, is reportedly planning for an initial public offering in 2026. The startup claims to be the fourth-largest beer company in India, sitting at a market share of 5% across key regions, Inc42 reported on July 18.
Citing people close to the development, ET reported that B9 Beverages has tapped investment banking firm Morgan Stanley for its pre-IPO process.
“We are planning our IPO in 2026. This is contingent on meeting operating milestones in the business,” B9 Beverages’ CEO Ankur Jain was quoted as saying in the report.
Last month, the beer brand raised $25 Mn (about INR 208 Cr) via external commercial borrowing (ECB) from its existing backer Kirin Holdings.
Founded in 2015 by Jain, B9 Beverages is a craft beer brand that is known for its beer, ciders and seltzers. B9 Beverages counts Peak XV Partners, Sofina and DS Group among its marquee investors, and has acquired $449 Mn in funding so far.
Bira 91 claims to sell its beer across 550 towns and cities, spanning over 18 countries. The startup claims to be the fourth-largest beer company in India.
Gearing up for its initial public offering (IPO), craft beer maker Bira 91 became a
...More info on site
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UK: Lancaster Spirits Company opens new whisky distillery
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Lancaster Spirits Company is to add a single malt whisky to its line-up after investing a seven-figure sum in a new distillery and warehouse, Lancashire Business View reported on July 17.
The company already produces vodka and gin, and is the sister company to Lancaster Brewery which produces beers and ciders.
The expansion has been two years in the planning, with the idea first conceived during the Covid-19 lockdown. With production now under way, bottling will begin in 2027 once the spirit held in casks has aged for the required minimum of three years.
The investment includes a new 3000-litre copper and steel pot-still as well as an array of associated distilling equipment and an extensive bespoke cask racking.
The Whisky Room has been specifically designed and constructed to showcase the production, storage and tasting of whisky with a special area reserved for testing the maturing casks.
Phil Simpson, managing director, said: "We've invested a seven-figure sum to create this new venture for the Lancaster Spirits Company. We first started planning a whisky business during the Covid shutdown and it has taken a few years to realise our dreams.
"A real Lancastrian team effort - our sister company, Lancaster Brewery, will brew a special wash, specifically
...More info on site
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Russia: Export duty on Russian barley remains nil
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The export duty on Russian wheat will fall 13.5% to 1,540.4 rubles per tonne in the week starting July 24 from 1,780.5 rubles per tonne during current period, the Agriculture Ministry said.
The duties on barley and corn will remain nil.
Duty rates are based on indicative prices of $229.6 per tonne for wheat against $233.30 per tonne in the current period, $177.1 per tonne for barley versus $176.50 per tonne, and $188 per tonne for corn against $190.90 per tonne.
The duties will be valid until July 30, inclusive.
Russia introduced a grain damper mechanism on June 2, 2021, which provides for floating duties on the export of wheat, corn and barley and the return of funds received from them to subsidize agricultural producers. The duties are calculated weekly from indicators based on the prices of export contracts registered on the Moscow Exchange . Duty rates were calculated in dollars at first, and, since July 2022, in rubles. The duty is 70% of the difference between reference and indicative prices.
The Agriculture Ministry on June 1, 2023, hiked the reference price for calculating the export duty on wheat to 17,000 rubles per tonne from 15,000 rubles per tonne, and the reference price on barley
...More info on site
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South Korea: Barley production hits record low this year
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South Korea's barley production hit a record low this year due to frequent rain, statistical office data showed on July 19, Xinhua reports.
Local farms cultivated 70,891 tons of barley in 2024, down 27.5 percent compared with the previous year, according to Statistics Korea. It marked the lowest since relevant data began to be compiled.
The barley production per 100 square meters diminished 21.4 percent to 304 kg on the back of frequent rain in the early stage of growth.
The barley cultivation area declined 7.7 percent to 23,298 hectares owing to lower price in the sowing season.
Garlic production retreated 10.5 percent over the year to 284,936 tons in 2024 on the worsened weather condition and the lower cultivation area.
Onion production inched up 0.2 percent to 1,175,276 tons this year due to larger cultivation area.
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