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E-Malt.com Newsletter 32a
August 05 - August 07, 2024
Quote of the Week
Change is the law of life. And those who look only to the past or present are certain to miss the future.
John F. Kennedy
Currency Rates
Base Currency: US Dollar
on August 07, 2024 |
Base Currency: Canadian Dollar
on August 07, 2024 |
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1 USD = 0.9147 EUR
1 USD = 0.7858 GBP
1 USD = 1.3806 CAD
1 USD = 1.5357 AUD
1 USD = 145.0150 JPY
1 USD = 5.6881 BRL
1 USD = 85.3679 RUB
1 USD = 7.1379 CNY
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1 CAD = 0.7242 USD
1 CAD = 0.5691 GBP
1 CAD = 0.6624 EUR
1 CAD = 1.1122 AUD
1 CAD = 105.0200 JPY
1 CAD = 4.1193 BRL
1 CAD = 61.8233 RUB
1 CAD = 5.1693 CNY
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Currency Rates Chart
Equities of the Largest Breweries
World: Molson Coors shares rise on second-quarter sales and profits that beat expectations
...Click here
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USA, CO: Breckenridge Brewery announces opening of new brewery in Fort Collins
...Click here
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USA, KS: Manhattan Brewing Company to open a permanent location in Wichita
...Click here
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USA, WI: Sale of Public Brewing Company now completed, business to reopen ‘after a week or so’
...Click here
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USA, IA: Peace Tree Brewing Co. to close down on August 10
...Click here
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World: Most regular beer drinkers live in Latin America and southern Europe
...Click here
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Belgium: Beer production down 99 mln litres in 2023
...Click here
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Asia: Beverage maker F&N posts 37.3% increase in nine-months net profit
...Click here
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Turkey & Russia: Government blocks sale of AB InBev stake in Russian JV to partner Anadolu Efes
...Click here
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UK: British farmers report good progress with winter barley harvest
...Click here
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Japan: Over 80% of consumers maintain or increase frequency of beer consumption, study finds
...Click here
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Australia: Brewers and distillers calling for action from local government following new increase in alcohol duty rates
...Click here
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India: India set to tighten ad regulations for liquor makers
...Click here
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Germany: President of the Bavarian Brewers' Association advocates for higher beer prices
...Click here
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UK: Independent breweries calling on government to confirm review of Alcohol Duty System one year on
...Click here
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Tanzania: Heineken expands portfolio in Tanzania with the addition of Windhoek beer
...Click here
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Vietnam: Ministry of Finance does not take into account Heineken’s suggestion for a hybrid tax calculation for beer
...Click here
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Taiwan: Taiwan’s top brewers form Taiwan Brewers Association
...Click here
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Graph of the Week
Table of the Week
France Barley Supply & Disposition 2017-2024f
Prices Evolution
Barley Prices
Theoretical Malt Prices
These Days in Business History
05 August
1914 - 1st traffic light installed (Euclid Ave & E 105th St, Cleveland)
1926 - 1st talkie movie "Don Juan" at Warner Theatre, NY
1930 - Birth of Neil Armstrong , X-15 pilot, 1st Moonwalker (Gemini 8, Apollo 11)
1991 - Soichiro Hondo CEO & founder (Honda), dies of liver cancer at 84
06 August
1661 - Holland sells Brazil to Portugal for 8 million guilders
1945 - Hiroshima Peace Day-atom bomb dropped on Hiroshima by "Enola Gay"
1990 - UN Security Council votes 13-0 (2 abstentions Cuba & Yemen) to place economic sanctions against Iraq
07 August
1888 - Theophilus Van Kannel of Philadelphia patents revolving door
1928 - The dollar shrinks, literally: the US Treasury unveiled a new version of the note that was one third smaller than its predecessor
1955 - Tokyo Telecommunications Engineering, the precursor to Sony, sells its first transistor radios in Japan
1959 - Explorer 6 transmits 1st TV photo of Earth from space
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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World: Molson Coors shares rise on second-quarter sales and profits that beat expectations
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Molson Coors beat Wall Street expectations for second-quarter sales and profit on August 6, driven by strong demand for its premium Coors Light and
...More info on site
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USA, CO: Breckenridge Brewery announces opening of new brewery in Fort Collins
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Breckenridge Brewery, a Colorado-based craft brewer with over 30 years of experience brewing approachable, well-balanced beers, announces the opening of its new brewery location in Fort Collins. With doors opening in early August 2024, the new 10,000-square-foot Breckenridge Brewery offers a full restaurant experience and a new vibrant atmosphere in the heart of Fort Collins for all to enjoy, Morningstar reported on August 5.
The new location will be a full-service restaurant, upholding the Breckenridge Brewery legacy while ushering in new opportunities for innovation and community collaboration. With a menu boasting a diverse range of culinary delights designed to complement our exceptional craft beers, the restaurant will be a haven for food and beer enthusiasts alike. With 40 dedicated employees, including local favorite Ryan Joy as head brewer, Breckenridge Brewery Fort Collins is poised to continue celebrating the company’s Colorado roots while offering an elevated dining experience.
"Born and raised in Colorado, I've spent twelve years honing my craft across Northern Colorado's brewing landscape—from intimate taprooms to large-scale production,” says Ryan Joy. “My teams have earned top honors at the Great American Beer Festival and World Beer Cup, including a recent World Beer Cup bronze. I'm passionate about creating beers that blend
...More info on site
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USA, KS: Manhattan Brewing Company to open a permanent location in Wichita
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A brewing company in the Manhattan area is expanding across the Sunflower State, KSNT reported on August 2.
Manhattan Brewing Company announced on X, formerly known as Twitter, it is opening up a permanent location in Wichita. The new brewery will take up residence at a brick and mortar location, near the Arkansas River, 117 N. Handley Street.
Manhattan Brewing Company Co-owner Jake Voegeli told 27 News his brother bought the building, which used to be an old brewery. The business had several pop-up’s at that location, and after seeing success, decide to make it permanent.
“We had done three pop-ups right before, and then after the third pop-up that basically the day after, we’re like, ‘Yeah, we should definitely do this more permanently’,” Voegeli said. “We got together, we talked it out, and worked out an agreement and here we are.”
Even though the brewery is expanding to a town with a university, Voegeli said its staying true to its purple roots.
“We are K-State, we are Manhattan,” Voegeli said. “We bleed purple, and we want to bring a lot of that to Wichita as well. And do K-Staters a place to go and drink beer that was made in Manhattan.”
Voegeli told 27 News
...More info on site
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USA, WI: Sale of Public Brewing Company now completed, business to reopen ‘after a week or so’
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The sale of Public Brewing Company has now been completed by Milwaukee’s largest craft brewery, Lakefront Brewery. The Kenosha brewery will be closed for just a short time – approximately a week – for some light reorganizing, training, and business licensing to be finalized, Milwaukee Record reported on August 5.
“After a week or so, Public will reopen once again,” says Lakefront Brewery President, Russ Klisch. “We couldn’t be more excited about Public Brewing Company and continuing Kenosha’s craft beer brewing.”
Klisch reiterated his remarks from May by saying, “Public Brewing Company has a solid reputation for its beer and food, and we aim to build on that, in addition to adding some great events.”
Similar to Lakefront, Public is in a historical building that has recently had a major renovation with all new bathrooms, plumbing, electrical, and HVAC. All building, brewing, and restaurant equipment is only four years old. Public Brewing Company is located in the heart of downtown Kenosha and close to major developments happening there.
Public Brewing Company’s packaged beer, sold in the taproom and in stores, are being re-branded as well. Over the next several months, Public will define how it will move forward in everything they do, from the
...More info on site
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USA, IA: Peace Tree Brewing Co. to close down on August 10
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Peace Tree Brewing Co. continues the shutdown of its operations. The brewery based in Knoxville announced that it closes on Aug. 10, Des Moines Register reported on August 6.
In July, the first 100% woman-owned brewery announced plans to close the taproom in Des Moines. Now, after a 15-year run in central Iowa, owner Megan McKay said the Knoxville brewery closes. Customers who stop in before Aug. 10 can score 20% off all cans of to go beer and all merchandise items in the taproom.
“...still winding things down, going to take a little time off and figure out what she wants to be when she grows up!” she wrote on Facebook.
Some of the staff at the brewery already found new positions at other local breweries. Brewer Ashley Hynick is now at West Hill Brewing Co. in Indianola. Head brewer Bryan Davis moved over to Reclaimed Rails in Bondurant.
Blonde Fatale, the Belgian-style blonde ale that won the Des Moines Register’s Beer Brackets in 2023, with fans voting it the best beer in Iowa. Blonde Fatale also earned gold at the World Beer Cup in 2014 in the Belgian-Style Blonde Ale or Pale Ale category while the brewery’s Get a Little Hazy won
...More info on site
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World: Most regular beer drinkers live in Latin America and southern Europe
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While many countries have their own special days to celebrate beer, one of the oldest alcoholic beverages known to humankind, International Beer Day is
...More info on site
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Belgium: Beer production down 99 mln litres in 2023
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Belgium is known as a land of beer but the country produced 99 million litres less of the amber liquid in 2023 than in
...More info on site
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Asia: Beverage maker F&N posts 37.3% increase in nine-months net profit
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Beverage maker F&N posted a net profit of S$123 million for the nine months ended Jun 30, 2024, a 37.3 per cent increase from
...More info on site
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Japan: Kirin’s first-half profit up 78.9%
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Japan’s leading beer maker Kirin Holdings Co. Ltd. reported that its first half profit to owners of the company was 57.2 billion yen, up
...More info on site
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Turkey & Russia: Government blocks sale of AB InBev stake in Russian JV to partner Anadolu Efes
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A Russian government commission led by Finance Minister Anton Siluanov blocked the sale of Anheuser-Busch InBev NV’s stake in a Russian joint venture to
...More info on site
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UK: British farmers report good progress with winter barley harvest
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After a catchy start, a more settled period has seen good progress with winter barley and rapeseed harvest, according to the AHDB’s first Harvest progress report of 2024.
The mostly warm, dry weather has allowed winter crop harvesting to progress at pace, with 85% of English, Welsh and Scottish winter barley and 73% of oilseed rape cut by 31 July.
At 85% cut, the winter barley harvest is well ahead of the same time last year when harvest was 48% complete, and the five-year average of 50.6% complete at this point in the season.
Winter barley harvest has now started across all regions in England and Scotland, with progress ranging from 40% complete in the South East, to 100% in the Midlands, eastern and northern regions.
“It’s thought that the bigger farms down south are focusing on oilseed rape harvest before moving to winter barley, hence the slower pace,” says the report.
Looking at yields, early indications vary significantly by region. GB yields, overall, are down 12% on the UK five-year average at 6.2 t/ha, and ranging from 5.3–8.5 t/ha.
Better yields have been reported in the eastern region, while the East Midlands saw the greatest fall on average in yields so far.
There is limited
...More info on site
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Japan: Over 80% of consumers maintain or increase frequency of beer consumption, study finds
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The notable consumer preference for beer makes it a key focus in the Japanese hospitality industry. Beer’s continued dominance emphasizes the importance of developing
...More info on site
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Australia: Brewers and distillers calling for action from local government following new increase in alcohol duty rates
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Australian distillers and brewers are calling for action from the local government following the introduction of a new increase in alcohol duty rates.
The nation’s
...More info on site
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India: India set to tighten ad regulations for liquor makers
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India, which bans direct advertising of liquor, is set to announce sweeping rules that will bar even surrogate ads and sponsoring of events, which could force firms such as Carlsberg, Pernod Ricard and Diageo to redraw marketing campaigns, MarketScreener reported on August 4.
Such "surrogate ads" often get round the ban by ostensibly showing less desirable items instead, such as water, music CDs or glassware garbed in logos and hues linked to their key product, and often promoted by popular Bollywood film stars.
Now they could bring fines for companies and bans for celebrities endorsing tobacco and liquor ads deemed misleading, according to the top civil servant for consumer affairs and draft rules being reported for the first time by Reuters.
"You can't take a circuitous way to promote products," the official, Nidhi Khare, told Reuters, adding that final rules were expected to be issued within a month.
"If we find ads to be surrogate and misleading, then even those who are endorsing (products), including celebrities, will be held responsible."
For example, brewer Carlsberg promotes its Tuborg drinking water in India, with an ad showing film stars at a rooftop dance party and the slogan "Tilt Your World", which echoes its beer ads elsewhere, emblazoned
...More info on site
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Germany: President of the Bavarian Brewers' Association advocates for higher beer prices
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The President of the Bavarian Brewers' Association advocates for higher beer prices. In Germany, beer is the cheapest in Europe, Georg Schneider told the "Augsburger Allgemeinen" on August 6. To operate sustainably, a crate of beer from a medium-sized craft brewery should cost between 25 and 30 euros, according to the brewer president.
"My brewers are furious when a crate of beer is sold in stores for 9.99 euros. That's a slap in the face for us and our work," Schneider said, adding that this work is no longer valued.
Looking at the current sales figures, the brewer president expects a year "just as bad as 2023." According to the Federal Statistical Office, the sales of Bavarian brewers increased by 1.8 percent to 1.19 billion liters in the first half of the year. However, brewers have had to accept declining sales in recent years.
Schneider does not see an increasing number of breweries closing. "A lot would have to happen before a brewery gives up," he said. "Breweries are highly resilient, as they work in a very emotional industry." Economic considerations often play a minor role. "But you can't live off of losses forever, even if some operations sell off their properties to
...More info on site
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UK: Independent breweries calling on government to confirm review of Alcohol Duty System one year on
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Independent breweries are calling on the Labour Government to confirm that the new Alcohol Duty System will be reviewed after three years, as research shows its impact on the beer brewed by more than half of breweries, The British Guild of Beer Writers reported on August 2.
The call comes on the first anniversary of the most far reaching changes to the Alcohol Duty System in generations, which were introduced on 1 August last year.
The previous Government pledged that the changes would be fully considered in 2026. The Society of Independent Brewers and Associates (SIBA), that represents the UK’s small and independent brewers, is asking the Government to commit to this deadline to ensure that the changes are properly evaluated.
“One year ago the Government introduced the most radical changes to the Alcohol Duty System in generations which is having an impact on what independent breweries brew and what consumers get to enjoy.
“While it is too early to understand the full implications of the changes, we are already seeing that large Global companies have significantly reduced their duty bills by benefitting from the new lower rate and that small independent breweries are stopping or reducing production of innovative beers such as imperial
...More info on site
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Tanzania: Heineken expands portfolio in Tanzania with the addition of Windhoek beer
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Leading global beverage company, Heineken has announced the expansion of its Heineken Beverages portfolio in Tanzania with the addition of Windhoek beer, BHM reported on August 2.
The official announcement was made at a media briefing held on July 31st, 2024 at the Serena Hotel. This portfolio expansion follows the company’s acquisition of Namibia Breweries Limited (‘NBL’), the esteemed brewer of Windhoek beer, and Distell Group Holdings Limited, another leading global beverage company, in 2023.
Windhoek beer is a premium lager beer brewed in Namibia with a smooth, malty, and refreshing taste profile, revered as a superior, full-bodied premium lager. Tanzanians like Windhoek beer and we are now happy to be able to offer it as part of our portfolio.
In the same vein, Heineken Beverages has also forged a strategic partnership with Tanzanian company -Mabibo Beer, Wines and Spirits, which prior to now held the exclusive rights to import Windhoek beer in the country. Mabibo will be the official distributor of Windhoek Beer in Tanzania.
This strategic collaboration reiterates Heineken’s commitment to supporting local businesses and contributing to Tanzania’s economic growth while further iterating its commitment to creating economic value in Africa. Heineken Beverages, which combines the strengths of Heineken South Africa,
...More info on site
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Vietnam: Ministry of Finance does not take into account Heineken’s suggestion for a hybrid tax calculation for beer
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In its latest draft on excise tax, Vietnam’s Ministry of Finance has not taken into account Heineken’s suggestion for a hybrid tax calculation for beer, The Investor reported on August 3.
In general, there are three taxation methods – ad valorem tax (proportional to the value of the underlying asset), specific tax (constant figure), and hybrid tax as a mixed formula between ad valorem tax and specific tax.
Heineken was the only premium beer brand to make such a proposal, the ministry noted. Many businesses and agencies opposed the suggestion and wanted continuity of ad valorem tax calculation for excise duties.
The ministry clarified that hybrid tax calculation would put heavy pressure on affordable products, prompting a price hike that’s “much more” than a hike in premium product prices.
As affordable products account for 80% of the Vietnamese market, such a recommendation was not suitable at the moment, it argued.
The ministry also did not take into account another suggestion from Heineken regarding different tax rates based on alcohol concentration in beers.
In particular, Heineken had suggested a 65% tax for beer with alcohol concentration of 5.5% or below, 70% for beer with alcohol concentration of 5.5-15%, and 75% for beer with alcohol concentration of 15%
...More info on site
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Taiwan: Taiwan’s top brewers form Taiwan Brewers Association
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Taiwan’s top six brewers announced the formation of the Taiwan Brewers Association (TBA) at a press conference on Monday, August 5.
The association will promote the local brewing industry by lobbying the government to promote policies that support local brewers and increase import barriers. Members of the new association include Taiwan Tobacco and Liquor Company (TTL), Heineken, Taihu Craft Brewing, Zhangmen Craft Brewing, Buckskin, and Sunmai, per UDN.
Ting Yen-che, TBA and TTL chair, said the association will integrate opinions within the industry and seek shared prosperity for all members. TBA members have agreed to goals such as cultivating local brewing talent, innovating local agricultural products for beer production, promoting net-zero sustainable brewing, cultivating Taiwanese brewing culture, implementing responsible drinking, and working with the government and society to better Taiwan.
Ting said the two major challenges the domestic brewing industry face are net zero carbon reduction, and reversing declining market share for locally brewed products, especially low-cost beer imports from China. Ting said these two challenges require cooperation and joint efforts from the industry and the government.
Rebecca Kuo, secretary-general of TBA, said many beer exporting countries benefit from supportive government policies, though Taiwan’s brewing industry lacks such support and vision. Local
...More info on site
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