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E-Malt.com Newsletter 18a
April 29 - May 05, 2024
Quote of the Week
Things don't make me nearly as happy as talking and having a beer with my friends. And that's something everyone can do.
Drew Carey
Currency Rates
Base Currency: US Dollar
on May 01, 2024 |
Base Currency: Canadian Dollar
on May 01, 2024 |
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1 USD = 0.9348 EUR
1 USD = 0.7983 GBP
1 USD = 1.3718 CAD
1 USD = 1.5357 AUD
1 USD = 157.1800 JPY
1 USD = 5.1478 BRL
1 USD = 93.2043 RUB
1 USD = 7.2387 CNY
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1 CAD = 0.7289 USD
1 CAD = 0.5819 GBP
1 CAD = 0.6813 EUR
1 CAD = 1.1193 AUD
1 CAD = 114.5610 JPY
1 CAD = 3.7520 BRL
1 CAD = 67.9321 RUB
1 CAD = 5.2760 CNY
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Currency Rates Chart
Equities of the Largest Breweries
World: Molson Coors’ Q1 sales and profit surpass analysts’ estimates
...Click here
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Mexico: Heineken’s new plant in Yucatan could begin operations in 2027
...Click here
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Canada: Barley crop forecast unchanged at 9.3 mln tonnes
...Click here
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USA, NY: DeWolf Brewing Company hoping to launch in Victor in early 2025
...Click here
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USA, FL: Escape Brewing Company hoping to launch its new Trinity location in August
...Click here
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USA, NE: Boss City Brewing officially opens its doors in Sidney
...Click here
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USA, MA: Jack’s Abby Craft Lagers owners purchase Wormtown Brewery
...Click here
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China: China Resources Beer’s 2023 net income up 19% but misses analysts estimates
...Click here
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UK: Crisp Malt submits plans for new malting plant in Scotland
...Click here
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World: Carlsberg reports strong first quarter results
...Click here
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China: Tsingtao Brewery toasts increase in Q1 2024 net profit
...Click here
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Ireland: Diageo cleared to build new brewery in Newbridge
...Click here
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Australia: Barley crop forecast up 0.4 mln tonnes from crop 2023
...Click here
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Argentina: Barley crop forecast slightly increased thanks to improved weather
...Click here
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Japan: New Japanese whisky regulations to give consumers more confidence in the products
...Click here
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UK: Greene King planning a new ‘state-of-the-art’ brewery in Bury St Edmunds
...Click here
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Australia: Hop Products Australia completes 2024 harvest
...Click here
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World: Olympic deal shows bubbling market for zero-alcohol beer
...Click here
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Nigeria: Champions Breweries suffers N823.8m operating loss between January and February
...Click here
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France: Winter barley crop score edges down, spring barley up last week
...Click here
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South Korea: Competition on beer market heating up as Guinness introduces new non-alcoholic beer in Korea
...Click here
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UK: Wet winter set to drive beer, bread, and biscuit prices up this year
...Click here
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Graph of the Week
Table of the Week
Belgium Malt Exports 2018 - 2023
Prices Evolution
Barley Prices
Theoretical Malt Prices
These Days in Business History
29 April
1813 - Rubber is patented
1910 - The Parliament of the United Kingdom passes the People's Budget, the first budget in British history with the expressed intent of redistributing wealth among the British public
1913 - Swedish engineer Gideon Sundback of Hoboken patents all-purpose zipper
1953 - The first U.S. experimental 3D television broadcast showed an episode of Space Patrol on Los Angeles ABC affiliate KECA-TV
1977 - British Aerospace forms
30 April
1506 - Philip of Bourgondy and England sign trade agreement
1925 - Automaker Dodge Brothers, Inc is sold to Dillon, Read & Co. for US$146 million plus $50 million for charity
1939 - NBC inaugurates its regularly scheduled television service in New York City, broadcasting President Franklin D. Roosevelt's N.Y. World's Fairopening day ceremonial address
1939 - NBC/RCA 1st public TV demo with Franklin D. Roosevelt at opening of New York World's Fair
1995 - Sun Microsystems launches Java, the universal Internet programming language that brings "white space" and greater interactivity to millions of websites and Internet users
01 May
1876 - The Amsterdam Stock Exchange Association (Vereniging voor de Effectenhandel) is created by 465 Dutch brokers; from now on, only members of the association are allowed to trade on the exchange
1878 - The Tokyo Stock Exchange Co., Ltd., is established, primarily to trade bonds
1925 - The All-China Federation of Trade Unions is officially founded. Today it is the largest trade union in the world, with 134 million members
1972 - Economist Milton Friedman rings the opening bell at the Chicago Mercantile Exchange to inaugurate the world's first day of trading in foreign-currency futures
Agenda
May 2024:
14 - 16: International Beer Strategies Conference 2024 (Porto, Portugal)
20 - 26: Budapest Beer Week 2024 (Budapest, Hungary)
24 - 26: Cerveza Mexico Expo 2024 (Guadalajara, Mexico)
24 - 26: Mondial de la Biere 2024 (Montreal, Canada)
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)
09 - 11: Bangkok Brewing Conference 2024 (Bangkok International Trade & Exhibition Centre (BITEC) Bangkok, Thailand)
11 - 13: Brasil Brau 2024 (Sao Paulo, Brazil)
14 - 15: Tallinn Craft Beer Weekend 2024 (Tallinn, Estonia)
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:
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)
News Articles
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World: Molson Coors’ Q1 sales and profit surpass analysts’ estimates
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Molson Coors surpassed Wall Street estimates for first-quarter sales and profit on April 30, helped by higher prices and steady demand for brands such
...More info on site
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Mexico: Heineken’s new plant in Yucatan could begin operations in 2027
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During the presentation to the media of the “Cheers 2024” event, Guillaume Duverdier, CEO of Heineken México, explained that after the announcement of the
...More info on site
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Canada: Barley crop forecast unchanged at 9.3 mln tonnes
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While the soil moisture situation has improved generally, there remain dryness concerns in both Canada and the US, as planting season approaches, RMI Analytics
...More info on site
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USA, NY: DeWolf Brewing Company hoping to launch in Victor in early 2025
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Justin DeWolf’s vision for the town of Victor is a brewery that fits the town: elevated, but not upscale. Diverse in its sudsy offerings, but not chasing trends. And cozy, a place fit for hanging out after a day on the slopes, but not overly quaint, CITY Magazine reported on April 26.
“I think (with) Victor, you kind of have to have a picture of two different towns,” DeWolf said. “There’s the village, where we are ... and then there’s the commercial, high-end area where Eastview Mall is.”
DeWolf Brewing Company has been in the works for almost two-and-a-half years, but the finish line is now visible with the gutting of the facility on Maple Avenue underway. If all goes well, DeWolf projects an opening later this year, although realistically doors will open in early 2025.
Victor, meanwhile, has been a complex town for the beer industry. The New York Beer Project’s second location, which opened in 2019 across the street from Eastview Mall, has been wildly successful. Just a stone’s throw away, Farmhouse Brewing failed to achieve the same success and shuttered in 2022. The latter specialized in decadent, rustic Belgian-influenced ales. While failing to draw enough attention to survive, the beer
...More info on site
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USA, FL: Escape Brewing Company hoping to launch its new Trinity location in August
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This summer, a new food hall is opening in Trinity, the small city that’s at the intersection of Pasco, Pinellas and Hillsborough counties.
The Collective at Escape is from John McGregor and Matt Thompson, the owners of Trinity-based Escape Brewing Company. It will also be the new location of the brewery, which is celebrating its 10th anniversary in September, the Tampa Bay Times reported on April 30.
McGregor said they’re hoping The Collective at Escape will open in August. He said the idea for a food hall with chef-driven food vendors and craft beer and cocktails was actually born four and a half years ago, but the pandemic delayed their plans.
It will be the first food hall in Trinity. McGregor said he and Thompson wanted to create a place where local folks can eat and drink without having to drive too far.
Six food vendors will occupy the 18,000-square-foot interior space. They will be announced over the next few weeks on both Escape Brewing’s and The Collective’s social media accounts.
But McGregor did let us know what kind of food to expect: pizza, sushi, coffee and doughnuts, smash burgers, fried chicken sandwiches, Asian fusion and street tacos.
Escape Brewing Company’s beers like IPAs, fruited sours
...More info on site
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USA, NE: Boss City Brewing officially opens its doors in Sidney
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What started as a hobby is now a brick and mortar location, and its own label, PANHANDLE - NEWS CHANNEL NEBRASKA reported on April 26.
Boss City Brewing officially opened its doors on April 25. Co-owner Stan Norgard called the opening night a success. Prior to Thursday's opening, a soft-opening event was held Wednesday afternoon.
"Last night, Thursday, April 25, was our official grand opening. We had a soft opening the day before where we worked out some bugs with just a new POS (point of sale), dialing in the draft system, just coordination of the kitchen, but overall those things were worked out pretty quickly overnight. Yesterday was a huge success for our grand opening. Everything went pretty flawless. Everyone was in a good mood working and clientele, the customers that we had, were just all in awe, and loved the place," Norgard said.
He said they received numerous compliments on the food as well as the drink menu.
Norgard said the history of Boss City Brewing starts in San Diego where he met his wife Melissa. They moved back to Sidney -- he had done some home-brewing in San Diego -- and went to work for Cabela's. He picked up home-brewing
...More info on site
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USA, MA: Jack’s Abby Craft Lagers owners purchase Wormtown Brewery
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Brothers and owners of Framingham, Mass.-based Jack’s Abby Craft Lagers Jack, Eric and Sam Hendler, have agreed to purchase Worcester, Mass.-based brewery Wormtown Brewery. The acquisition firmly establishes the company as one of the nation’s 10 largest family-owned craft breweries, it says.
With the purchase, the corporate name will transition to the Hendler Family Brewing Co., which will operate the Jack’s Abby Craft Lagers and Wormtown brands, as well as Jack’s Beverage Co., the company’s contract brewing arm. The corporate headquarters will remain in Framingham and the Hendler family is offering roles to the vast majority of current non-ownership Wormtown staff. This strategic move solidifies the company’s position and underscores its dedication to fostering long-term growth and prosperity within the Massachusetts brewing landscape, it states.
“The pandemic put unimaginable pressures onto Massachusetts breweries which have been compounded by the ensuing supply chain instability, record high inflation, employee shortages and a ton of other challenges for small to midsize brewers,” said Sam Hendler, CEO and co-founder of Jack’s Abby Craft Lagers, in a statement. “Wormtown ― headlined by Be Hoppy IPA ― is a stalwart brand in Massachusetts and we are incredibly excited to secure the ongoing legacy of their craft and products.”
Jack’s
...More info on site
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China: China Resources Beer’s 2023 net income up 19% but misses analysts estimates
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China Resources Beer (Holdings) reported revenue of CN¥38.9b for its financial year 2023, up 10% from FY 2022). However, the figure still missed analysts’
...More info on site
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UK: Crisp Malt submits plans for new malting plant in Scotland
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Crisp Malt, Norfolk-based malt manufacturer, has submitted plans for a new maltings on its Portgordon site in Scotland, The Drinks Report said on April
...More info on site
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World: Carlsberg reports strong first quarter results
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Danish brewer Carlsberg A/S reported strong first quarter results on April 30, with revenue growing by 4.4% year-over-year.
First-quarter revenue increased to 17.13 billion Danish
...More info on site
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China: Tsingtao Brewery toasts increase in Q1 2024 net profit
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China’s Tsingtao Brewery has released the 2024 first quarterly report in accordance with the China Accounting Standards of Business Enterprises.
The company realized operating
...More info on site
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Ireland: Diageo cleared to build new brewery in Newbridge
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The way is now clear for Guinness brewer and drinks giant Diageo to build its planned €200 million brewery for Newbridge, Co Kildare, The
...More info on site
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UK: Q1 sees 38 breweries close in the UK
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The UK brewing industry has seen a net closure rate of 38 in the first quarter of 2024, new figures have shown, The Morning
...More info on site
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Australia: Barley crop forecast up 0.4 mln tonnes from crop 2023
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Although additional rainfall has not been widespread in Australia, any incremental moisture further improves the good early start in the east where seeding is
...More info on site
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Argentina: Barley crop forecast slightly increased thanks to improved weather
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Heavy amounts of rainfall have fallen across key barley regions and further improve moisture levels after the drought impacts felt last year in some
...More info on site
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Japan: New Japanese whisky regulations to give consumers more confidence in the products
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New regulations governing the production of some Japanese whiskies could give consumers more confidence in the products, The Spirits Business reported on April 29.
These are good times for Japanese whisky, whose first distillery – Suntory’s Yamazaki – celebrated its centenary last year with special anniversary bottlings of Hibiki 21 and Yamazaki 12, among others.
The company announced a ¥10 billion (US$77 million) investment in Yamazaki and Hakushu that will include upgrading the visitor centres and installing floor maltings at both distilleries. There was also a fond cinematic tribute by the director Sofia Coppola, whose film Lost in Translation did a great deal to add Japan’s lustre in the West when it came out in 2003.
Since then, it has been a story of uninterrupted growth for Japanese whisky, with exports up by 1,400% in the past decade according to Takashi Harada, brand manager at Kirin Holdings, whose Fuji marque made its foreign debut four years ago in France. In September, Pernod Ricard took over its distribution in 13 European markets, which will go some way to help Kirin achieve its goal of a tenfold increase in net sales by 2030 from US$2.7m in 2022.
The Japanese Tax Agency valued whisky exports at ¥56
...More info on site
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UK: Greene King planning a new ‘state-of-the-art’ brewery in Bury St Edmunds
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A new £40m brewery could be built to produce premium craft beer and cask ale in the UK, BBC reported on April 30.
UK’s leading
...More info on site
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Australia: Hop Products Australia completes 2024 harvest
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Hop Products Australia (HPA) have completed this year’s hop harvest, and the 2024 hop crop looks a little different compared to previous years. Changes to global demand led HPA to idle 20% of their gardens, Craft Brewing Business reported on April 30.
HPA’s Head of Sales & Marketing Owen Johnston said “this production decrease was a necessary step towards rebalancing supply and demand, and an opportunity to get hyper focused on Aussie hop quality. We had greater flexibility to fine tune our standard operating procedures and harvest each variety at optimal maturity.”
HPA picked 670 hectares across Victoria and Tasmania, for a total of 1,340 tonnes of hops. This was a 177 hectare decrease and a 480 tonne decrease year-on-year across six proprietary varieties – Eclipse, Ella, Enigma, Galaxy, Topaz and Vic Secret – as well as Cascade.
Impact in beer is expected to remain strong, with this year’s average oil content coming in equal or above the 5-year average for all proprietary hops. Johnston said “Galaxy and Enigma were the star performers with both oils and alphas above the 5-year average, which should lead to a great year of true-to-type flavors and aromas in beer.”
Availability of Aussie hops is currently better than
...More info on site
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World: Olympic deal shows bubbling market for zero-alcohol beer
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For the first time this summer, as sportswomen and men strive for victory in Paris, spectators will be able to sip the official beer of an Olympic Games, Barron’s reported on April 27.
But the tipple won't go to their heads: it will be the alcohol-free version of the popular Mexican brand Corona.
The breakthrough sponsorship deal, inked by Belgian-Brazilian beer giant AB InBev, is just the latest sign of the fizzing market for zero-alcohol brews.
"All brewers are moving towards alcohol-free or low-alcohol beverages," Krishan Maudgal, director of the Belgian Brewers Association, told AFP.
That's the case even in Belgium, where the centuries-old brewing heritage is recognised by UNESCO and the alcohol percentage in beers made by Trappist monks can reach double digits.
"Twenty or 30 years ago it was more a case of increasing the alcohol content, but now we've reversed the trend and are lowering it," Maudgal said.
Against a backdrop of declining beer consumption -- down by 40 percent in 20 years in Belgium -- he says producers are "listening to the market" and adapting to drinking habits that have become more responsible.
"Among consumers there is a trend in favour of moderation and well-being, this trend is happening everywhere," said Andres Penate,
...More info on site
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Nigeria: Champions Breweries suffers N823.8m operating loss between January and February
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Champions Breweries Plc sustained the losing streak posted in first quarter of last year with a fresh N823.8m operating loss incurred between January and February 2024, The Whistler reported on April 26.
The company which is famous for its beer brand, Champion Beer and Champ Malt saw revenue growth of N4.5bn compared to the N2.6bn recorded in Q1 last year, in a sign of confidence that consumers are back to its products.
However, Nigeria’s third oldest brewery saw its Q1 revenue eroded by the scorching N2.8bn cost of sale, N970.7m selling and distribution expenses and another N602m administrative expenses which amounted to a cumulative N4.42bn.
The brewer’s Q1 financial report analysed by THE WHISTLER shows its net finance cost for the period amounted to N751m against the N18m incurred in 2023 Q1.
Champions Breweries suffered foreign exchange loss and interest on the loan for the three-month period ended 31st March 2024 amounting to N743m as interest rate on borrowings jumped in the period.
The brewer recoded zero finance income from January to March 2024, the books reveal.
Champions Breweries plunged into a negative working capital position last year which widened by N2.95bn after the brewer’s current liability grew to N8.95bn while the current assets grew marginally
...More info on site
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France: Winter barley crop score edges down, spring barley up last week
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The state of French soft wheat declined slightly last week, remaining at its poorest in four years, while maize plantings progressed, data from farm office FranceAgriMer showed on Friday, April 26.
Ratings of French soft wheat showed 63% was in good or excellent condition by April 22, down from 64% the previous week and 94% a year earlier, farm office FranceAgriMer said in its crop report. The rating was the lowest for the time of year since 2020, when French wheat crops were also affected by heavy rain during planting, according to FranceAgriMer data.
The good/excellent score for winter barley crops also edged down, to 66% from 67% a week earlier, to remain at its lowest for the time of year in FranceAgriMer records going back a decade.
Maize sowing, which has been slowed by wet conditions, was 26% complete by Monday, April 22. That compared with 13% a week earlier and was still well behind a five-year average of 51%, FranceAgriMer said.
The good/excellent rating for spring barley, for which sowing is now complete, jumped to 73% from 63% but remained well below the 94% average.
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South Korea: Competition on beer market heating up as Guinness introduces new non-alcoholic beer in Korea
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Competition in the domestic non-alcoholic beer market is heating up, with Guinness introducing non-alcoholic beer in Korea for the first time in Asia as the trend of "Hellcy Pleasure" continues, with growing interest in health, mk.co.kr reported on April 29.
According to the industry on the 29th, the domestic non-alcoholic beer market is estimated to be about 60 billion won. Under the current law, if the alcohol content is less than 1%, the expression non-alcoholic or non-alcoholic can be used.
Although the share of non-alcoholic beer in the total beer market, which amounts to about 4 trillion won, is still insignificant, the market's growth is steep considering that it was only 20 billion won in 2021.
The reason why non-alcoholic beer is so popular is because the trend of emphasizing the lifestyle of health and well-being continues. In particular, young female consumers tend to prefer non-alcoholic beverages with low calories and sugar content.
Non-alcoholic alcoholic beverages are showing high growth even when alcohol consumption is already declining overall in Europe. According to market research firm IMARC, Europe's non-alcoholic wine and beer market reached 8.6 billion euros (about 12 trillion won) last year and is expected to grow to 15.4 billion euros (about 22 trillion
...More info on site
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UK: Wet winter set to drive beer, bread, and biscuit prices up this year
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After years of painfully high prices during the cost of living crisis, the cost of purchasing many common foodstuffs could increase later this year. Bread, beer, and biscuit prices look set to rise sharply after a wet winter's impact on crops across the country, according to new analysis by climate experts, Yahoo News reported on April 29.
The Energy and Climate Intelligence Unit (ECIU) looked at crop area forecasts from the agriculture industry and Government yield data, finding that production of key crops like wheat, barley, oats, and oilseed rape might drop by four million tonnes compared to 2023 - a significant reduction of 17.5 per cent.
This comes after an exceptionally wet autumn led to reduced planting levels, and subsequent storms and flooding over the winter exacerbated losses for British farmers. The situation appears even more stark when considering the average production from 2015 to 2023, with potential declines exceeding five million tonnes or 21.2 per cent, the ECIU suggests.
Tom Lancaster, a land analyst at the ECIU, has highlighted a "real risk" of price increases for bread, beer and biscuits if the poor harvest translates into higher costs for producers.
The alert was raised amidst signs that food prices were starting to
...More info on site
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