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E-Malt.com Flash 43b
October 22 - October 25, 2026
Quote of the Week
Ale sellers should not be tale tellers.
Old Scottish proverb
Currency Rates
Base Currency: Euro
on October 23, 2026 |
Base Currency: US Dollar
on October 23, 2026 |
| |
1 EUR = 1.1223 USD
1 EUR = 0.8380 GBP
1 EUR = 1.5738 CAD
1 EUR = 1.5995 AUD
1 EUR = 176.4160 JPY
1 EUR = 5.6474 BRL
1 EUR = 91.6127 RUB
1 EUR = 7.4923 CNY
|
|
1 USD = 0.8909 EUR
1 USD = 0.7466 GBP
1 USD = 1.4023 CAD
1 USD = 1.4251 AUD
1 USD = 157.1880 JPY
1 USD = 5.0321 BRL
1 USD = 81.6309 RUB
1 USD = 6.6760 CNY
|
Currency Rates Chart
Equities of the Largest Breweries
Average Market Prices Change Trend
| October 23, 2026 |
French Barley/Malt
Crop 2026
Bulk |
EUR/T |
% |
| 2RS Malting Barley (FOB Creil) |
243.00-245.00 |  0.81% |
| 6RW Malting Barley (FOB Creil) |
223.00-225.00 | 0.88% |
Feed Barley (FOB Creil) |
207.00-209.00 | 5.45% |
| 2RS Malt (FOB Antwerp) |
588.00-590.00 | 0.42% |
| 6RW Malt (FOB Antwerp) |
563.00-565.00 | 0.43% |
French Barley/Malt
Crop 2027
Bulk |
EUR/T |
% |
| 2RS Malting Barley (FOB Creil) |
243.00-245.00 | 0.81% |
| 6RW Malting Barley (FOB Creil) |
223.00-225.00 | 0.88% |
Feed Barley (FOB Creil) |
207.00-209.00 |  2.46% |
| 2RS Malt (FOB Antwerp) |
588.00-590.00 | 0.42% |
| 6RW Malt (FOB Antwerp) |
563.00-565.00 | 0.43% |
German Malting Barley
Crop 2025
Bulk
Ex Farm |
EUR/T |
% |
| Average Malting Barley Price |
nq | |
 No change;
 Price increase;
 Price decrease versus last publication.
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Click here to see our Market Prices History.
France & China: Malteurop acquires Chunlei Malting Co. malting plant in Jiangsu province
...Click here
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China: Beer production falls in September signalling weaker volume at end of Q3
...Click here
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Italy: Beer market on track to grow by 2.5% this year
...Click here
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USA: Craft beer sector shows signs of firmer demand
...Click here
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Greece: Alcohol consumption drops as population increasingly turns to beverages with little or no alcohol
...Click here
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Nigeria: Guinness Nigeria posts N40.69bn profit, declares N7 interim dividend
...Click here
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Vietnam: Carlsberg to invest about $65 million in its Phu Bai brewery in Vietnam
...Click here
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Russia: AB InBev reportedly says it has no plans to sell its Russian business
...Click here
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World: Malting barley prices remain stable or are slightly down
...Click here
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EU & UK: Barley harvest completed at an estimated 57.1 mln tonnes
...Click here
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UK: AHDB anticipates tighter UK barley supply and demand outlook
...Click here
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USA: Beer distributors widening their product portfolios beyond traditional beer
...Click here
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Vietnam: Hanoi Beer Thanh Hoa Joint Stock Company sees net profit plummet by 64% in Q3
...Click here
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USA: Sapporo to make Sapporo Premium beer its lead U.S. brand in 2027
...Click here
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South Korea: Japanese beer imports near 100 billion Korean won in Q1-Q3 this year
...Click here
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Argentina: AB InBev’s Quilmes investing $3 million in new production technology at Zárate brewery
...Click here
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Vietnam: Sabeco’s subsidiary Saigon Beer-Quang Ngai nearly triples net profit in H1 2026
...Click here
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USA: Boston Beer logs lower profit and revenue in the third quarter
...Click here
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Trinidad and Tobago: Government proposed cutting excise duties on alcoholic beverages by 25%
...Click here
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USA: Constellation Brands lifts beer shipments by refilling distributor inventories
...Click here
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Graph of the week
Table of the week
World Barley Trade 2021 - 2027f
Prices Evolution
Barley Prices
Theoretical Malt Prices
These Days in Business History
22 October
1897 - World's 1st car dealer opens in London
1979 - Walt Disney World's 100-millionth guest
1997 - Yahoo completes purchase of Four11
23 October
1814 - 1st plastic surgery is performed (England)
1824 - 1st steam locomotive is introduced
1989 - Bankruptcy of Wartsila Marine; the biggest bankruptcy in the Nordic countries until then
24 October
1836 - A. Phillips patents the match
1857 - World's 1st football club, Sheffield FC, founded in England
2008 - "Bloody Friday" saw many of the world's stock exchanges experience the worst declines in their history, with drops of around 10% in most indices
25 October
1492 - Christopher Columbus and ship Santa Maria land in Dominican Republic
1952 - Tappan sells 1st microwave oven
1960 - 1st electronic wrist watch placed on sale, New York City
Agenda
October 2026:
23 - 25: Stockholm Beer & Whisky Festival 2026 (Stockholm, Sweden)
23 - 25: Cerveza Mexico Expo 2026 (Mexico City, Mexico)
28 - 29: Brew Asia 2026 (Ho Chi Minh City, Vietnam)
28 - 30: Drinktec India 2026 (Bombay Exhibition Center, Mumbai, India)
28 - 30: Brussels Beer Challenge 2026 (Roeselare, Belgium)
31 - 03 November: Planete Biere Rennes 2026 (Rennes, France)
November 2026:
10 - 12: Brau Beviale 2026 (Nuremberg, Germany)
18 - 20: Drink Japan 2026 (Tokyo Bigh Sight, Japan)
23 - 25: 16th Iberoamerican VLB Symposium Brewing & Filling Technology (Panama)
January 2027:
22 - 24: Finest Spirits 2027 (Munich, Germany)
February 2027:
11 - 12: Glug Swiss 2027 (Alte Reithalle, Aarau, Switzerland)
12 - 15: HoReCa 2027 (Athens, Greece)
21 - 23: BBTech Expo 2027 (Rimini, Italy)
March 2027:
09 - 11: 111h International Brewing & Engineering Conference 2026 (Meschede, Germany)
17 - 18: BeerX 2027 (Liverpool, UK)
April 2027:
04 - 08: 17th Trends in Brewing 2027 (Ghent, Belgium)
05 - 07: Craft Brewers Conference & BrewExpo America 2027 (San Antonio, Texas, USA)
26 - 28: Craft Beer China 2027 (Shanghai, China)
27 - 29: 29th Annual International Beer and Cider Strategies 2027 (InterContinental Barcelona, Spain)
May 2027:
17 - 23: Budapest Beer Week 2027 (Budapest, Hungary)
28 - 29: Tallinn Craft Beer Weekend 2027 (Tallinn, Estonia)
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Malt News
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France & China: Malteurop acquires Chunlei Malting Co. malting plant in Jiangsu province
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Malteurop, the malting business subsidiary of French agri-food cooperative Vivescia Group, has acquired the Chunlei Malting Co. malting plant near Yancheng, China, in the
...More info on site
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Brewery News
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China: Beer production falls in September signalling weaker volume at end of Q3
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China’s beer production fell 7.8% in September from a year earlier, extending a broader decline in the world’s largest beer market and signaling weaker volume at the end of the third quarter, Vinetur reported on October 21.
Beer output by industrial enterprises above designated size totaled 2.788 million kiloliters in September, according to figures published Wednesday by Sina Finance, which cited industry publication Huaxia Jiubao and attributed the data to China’s National Bureau of Statistics. For the first nine months of 2026, production reached 28.947 million kiloliters, down 6.0% from the same period a year earlier.
The September drop was steeper than the year-to-date decline by 1.8 percentage points. That suggests the contraction in output intensified late in the quarter, after production had already been trending lower on a cumulative basis.
The figures matter because China remains the largest beer market in the world by volume. Kirin Holdings said China consumed 40.534 million kiloliters of beer in 2024, equal to 20.9% of global consumption. A sustained decline in Chinese production can affect brewers, suppliers, packaging companies, and agricultural demand across a market that has long set the pace for global beer volumes.
The data cover beer production by industrial companies above a regulated scale,
...More info on site
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Italy: Beer market on track to grow by 2.5% this year
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Italy’s beer market is on track to end 2026 with volume growth of about 2.5% from 2025, according to Federico Sannella, president of AssoBirra,
...More info on site
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Nigeria: Guinness Nigeria posts N40.69bn profit, declares N7 interim dividend
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Guinness Nigeria Plc has reported N40.69 billion in profit after tax in the nine months ended September 2026 and proposed an interim dividend of N7, BusinessDay analysis shows.
The brewer’s unaudited financial statements filed with the Nigerian Exchange Group show that profit after tax rose 53.1 percent to N40.69 billion in the nine months to September 2026, from N26.59 billion in the corresponding period of 2025.
The company declared an interim dividend of N7.00 per share, totaling about N15.33 billion, on October 21, 2026.
The dividend is payable to shareholders whose names appear on the register as of October 30, with electronic payments scheduled for November 13.
The proposed payout reflects Guinness Nigeria’s return to stronger profitability after a period when elevated financing costs and foreign exchange pressures weighed on earnings across the manufacturing sector.
Revenue rose 20.4 percent to N403.33 billion from N335.07 billion a year earlier, reflecting improved sales performance during the period. However, the cost of sales increased 20.3 percent to N251.95 billion from N209.35 billion, leaving gross profit up 20.4 percent at N151.38 billion.
The company’s operating profit increased 23.4 percent to N64.98 billion from N52.64 billion, supported by higher gross profit despite rising administrative, marketing, and distribution expenses.
Marketing and distribution expenses
...More info on site
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USA: Craft beer sector shows signs of firmer demand
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U.S. craft beer showed signs of firmer demand as the market moved into fall, even though sales remained below year-earlier levels, according to the latest monthly data from market research firm Circana reported by Brewbound.
In the latest four-week period ending October 4, craft dollar sales in Circana-tracked off-premise channels fell 3.3% from a year earlier, while volume, measured in case sales, declined 4.3%, Brewbound reported. The data cover total U.S. multi-outlet plus convenience channels, often referred to as MULO+C, a broad retail measure that includes major food, drug, mass, club, dollar and convenience stores.
The report points to a market that is still contracting on an annual basis but may be stabilizing as the fourth quarter begins. Brewbound said the transition from summer into fall showed possible end-of-year momentum for the craft segment after a softer summer stretch. That does not mean the category has returned to growth, but it does suggest the pace of decline may be drawing close attention from brewers, wholesalers and retailers as they plan for the final months of the year.
The numbers also show that revenue held up somewhat better than physical sales in the latest period. Dollar sales dropped less than case volume, a sign
...More info on site
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Greece: Alcohol consumption drops as population increasingly turns to beverages with little or no alcohol
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Consumers in Greece are apparently drinking less liquor and increasingly turning to beverages with little or no alcohol, as changing lifestyles, higher prices and public awareness campaigns appear to be reshaping consumption habits, Tovima reported on October 20.
The share of adults in Greece who reported drinking alcohol daily fell to 3.8% in 2025, while 33.7% said they had never consumed alcohol or had not done so during the year, according to Eurostat figures published this week by the Hellenic Association of Drinks Companies (SEAOP). The latter figure was up from 28.5% in 2019.
The trend reflects a longer-term decline in alcohol consumption in the east Mediterranean country.
For instance, World Health Organization data show that per capita consumption of pure alcohol among people aged 15 and over fell by two liters between 2010 and 2020, a reduction of 36.2%, according to the figures cited in the report.
The latest data also put Greece below the European Union average for daily alcohol drinking, which stood at 4.8% in 2025. In Greece, 18% of adults reported drinking weekly and 26.1% monthly, while a further 18.4% said they consumed alcohol less than once a month.
The figures point to a consumption pattern in which alcohol is more
...More info on site
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Vietnam: Carlsberg to invest about $65 million in its Phu Bai brewery in Vietnam
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Carlsberg said on October 21 that it plans to invest about $65 million in its Phu Bai brewery in Vietnam between 2026 and 2031, marking a new long-term commitment to a market the brewer is highlighting during Vietnam’s state visit to Denmark, Vinetur reported.
The Danish brewing group said the planned spending would be used to modernize production at the site, expand digitalization, improve resource efficiency and increase the use of renewable energy. The company presented the investment plan as part of a broader message that it intends to deepen its presence in Vietnam over the long run.
Carlsberg tied the announcement to the diplomatic visit by Vietnam to Denmark, placing the project in a wider context of economic relations between the two countries. The company did not provide a detailed breakdown of yearly spending, expected production gains or new employment tied to the plan in the information released Wednesday.
The investment centers on the Phu Bai brewery, a major Carlsberg production site in Vietnam. The company said the project would run over five years, from 2026 through 2031, and would focus on upgrading operations rather than simply adding volume. That places emphasis on factory technology, digital systems and lower-resource production methods at
...More info on site
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Russia: AB InBev reportedly says it has no plans to sell its Russian business
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AB InBev, the world’s largest brewer, has told the Russian-appointed administrator of its Russian brewing operations that it has no plans to sell the
...More info on site
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Vietnam: Hanoi Beer Thanh Hoa Joint Stock Company sees net profit plummet by 64% in Q3
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Hanoi Beer Thanh Hoa Joint Stock Company has announced its Q3 2026 financial report, showing a 64% decrease in net profit compared to the same period last year. Despite revenue growth, soaring selling and administrative expenses resulted in core business operations incurring losses. The company only avoided a financial crisis thanks to other income from its parent company, Habeco, Vietnam.vn reported on October 21.
According to the Q3 2026 financial report of Hanoi Beer Thanh Hoa Joint Stock Company, net revenue reached VND 525 billion, a 13% increase compared to the same period last year. This growth stemmed from both increased sales volume and higher product prices. Gross profit for the period also increased by 20%, reaching VND 44.8 billion.
Despite improved revenue, the burden of expenses has become a major pressure on the business. Selling expenses increased by 21% to VND 47 billion, officially exceeding the gross profit generated in the quarter. Consequently, administrative expenses also increased by 36% to VND 16.5 billion. Ineffective cost control resulted in the company's core business recording a net loss of VND 18.2 billion, a significant widening of the VND 13.6 billion loss in the third quarter of last year.
The company avoided overall losses thanks
...More info on site
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USA: Beer distributors widening their product portfolios beyond traditional beer
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Beer distributors in the United States are widening their product portfolios beyond traditional beer, but industry leaders say restoring growth in beer remains the main goal for the business, Vinetur reported on October 20.
That was the central message from a panel of five distributor executives at last week’s National Beer Wholesalers Association annual convention in Orlando, Florida, according to a report published Monday by Brewbound. The discussion focused on how wholesalers are adjusting as beer makes up a smaller share of some portfolios and as distributors look for other products to support revenue and volume.
The executives said adding products beyond beer has helped protect their companies at a time when category trends have become more uneven. At the same time, they agreed that the industry still needs to align around bringing beer back to growth, rather than treating diversification as a replacement for the category that built the wholesale system.
The debate reflects a practical problem for distributors. Beer wholesalers depend on a network built around moving large volumes through stores, bars and restaurants. When growth slows in core beer brands or shifts across segments, distributors often look for other beverages to keep trucks full, sales teams productive and warehouse space
...More info on site
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USA: Sapporo to make Sapporo Premium beer its lead U.S. brand in 2027
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Sapporo USA is preparing to center its U.S. business more tightly around Sapporo Premium Beer in 2027, while setting a goal of reaching 10 million cases in the country by 2030, according to a report published on October 19 by Brewbound.
The move marks a sharper focus for the Japanese brewer’s American operation after it expanded its lineup this year with non-alcoholic, light and single-serve extensions. Brewbound reported that, despite those additions, the company plans to narrow its emphasis next year to its flagship import, making Sapporo Premium Beer the lead brand in its U.S. strategy.
The approach reflects a broader pattern in the beer business, where brewers have been trying to simplify portfolios and put more marketing, distribution and sales support behind the brands with the best chance of building national scale. In Sapporo’s case, the company appears to be taking that strategy further by making its core beer the main engine of growth in the United States.
The 10 million-case target gives the plan a clear commercial benchmark. Brewbound did not provide additional details in the excerpt available about how Sapporo USA expects to reach that figure, including the pace of annual growth, any changes in distribution, or how the company
...More info on site
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South Korea: Japanese beer imports near 100 billion Korean won in Q1-Q3 this year
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The cumulative import value of Japanese beer in South Korea during the first three quarters of this year has approached 100 billion Korean won, continuing its growth in the domestic imported beer market. As it regains popularity following the 2019 boycott of Japanese products, competition among companies is intensifying, The Chosun Daily reported on October 21.
According to the Korea Customs Service’s trade statistics, Japan’s beer exports to South Korea from January to September this year amounted to 75.223 million dollars (approximately 99.87 billion Korean won), a 25% increase from the same period last year (60.197 million dollars).
South Korea’s imports of Japanese beer plummeted in 2019 due to the boycott. The import value, which stood at 78.3 million dollars in 2018, halved to 39.756 million dollars in 2019. In 2020, it further dropped by 85.7% to 5.668 million dollars compared to the previous year.
Since then, imports have recovered, reaching a record high of 79.148 million dollars last year. This year, the import value through September has already reached 95% of last year’s annual total, suggesting it may surpass previous records.
The popularity of Japanese beer contrasts with the overall contraction of South Korea’s imported beer market. Total beer imports peaked at 309.68
...More info on site
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Vietnam: Sabeco’s subsidiary Saigon Beer-Quang Ngai nearly triples net profit in H1 2026
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Saigon Beer-Quang Ngai, a brewery subsidiary of Saigon Beer-Alcohol-Beverage Corporation, or Sabeco, nearly tripled its net profit in the first half of 2026 and is planning to raise brewing capacity in Vietnam’s central Quang Ngai province by 40%, according to the company’s interim financial statements and reporting by The Investor.
The Quang Ngai unit, known as BSQ, posted net profit of VND62.8 billion, or about $2.43 million, for the six months through June 30. That was up from VND21.5 billion a year earlier, an increase of roughly 192%. Net revenue from sales and services reached VND858.9 billion, or about $33.19 million, up 4% from the same period in 2025.
The profit increase came as revenue rose modestly and the cost of goods sold fell, helping gross profit more than double to VND93.9 billion. The results point to a sharp improvement in profitability at a time when Sabeco is also looking to expand production and broaden its presence in Quang Ngai beyond beer.
BSQ currently has annual brewing capacity of 250 million litres at its facility in Quang Phu Industrial Park. Sabeco now plans to lift that figure to 350 million litres a year in the coming period, adding 100 million litres of annual
...More info on site
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Argentina: AB InBev’s Quilmes investing $3 million in new production technology at Zárate brewery
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Cervecería y Maltería Quilmes, the Argentine unit of Anheuser-Busch InBev, said this week it is investing $3 million in new production technology at its plant in Zárate, Buenos Aires province, as it expands its push into nonalcoholic, gluten-free and sweet beer in Argentina, Vinetur reported on October 22.
The company said the full investment will go to production equipment and process upgrades at the Zárate brewery, which has become the center of its recent product development in those categories. The move comes as Quilmes says alcohol-free beer has gained ground in Argentina, reaching about 3% of the country’s beer market after tripling its share since 2024.
The figures on market share were provided by the company, which did not cite an independent audit or disclose segment volumes in hectoliters. Even so, the investment is notable because it comes from the local operation of the world’s largest brewer by volume. Industry supplier BarthHaas ranked AB InBev as the biggest brewer globally in 2025, with 484.19 million hectoliters of beer produced that year. The group’s corporate results for 2025 showed 561.1 million hectoliters in total beverage volumes and $59.3 billion in revenue.
In Argentina, Quilmes said the clearest signs of change are coming from consumer
...More info on site
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USA: Boston Beer logs lower profit and revenue in the third quarter
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Boston Beer logged lower profit and revenue in the third quarter as demand for beer continues to fall, The Wall Street Journal reported on October 22.
The brewer, which owns the Samuel Adams and Truly brands, posted a profit of $43.2 million, or $4.21 a share, compared with $46.2 million, or $4.25 a share, a year earlier.
Adjusted per-share earnings were $4.37, beating analyst expectations of $3.85
Net revenue, which excludes excise taxes, decreased 3% to $520.1 million. Wall Street analysts expected $522.9 million.
Chief Executive Jim Koch said that overall demand remains tough. “The demand environment remains challenging, and we are prioritizing actions within our control to strengthen our business and improve market share trends,” he said.
Depletions, which measures sales by distributors to retailers and is seen as an indicator of demand, decreased 5%, while shipments fell 4.9% in the third quarter.
Boston Beer now expects depletions to fall at a mid-single digit rate this year, versus its prior guidance for the metric to fall between a low-single-digit and mid-single-digit rate.
It now expects a loss between $5.76 a share to $4.26 a share, compared with its previous forecast of a per-share loss between $6.23 to $4.23.
On an adjusted basis, it expects a per-share profit
...More info on site
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Trinidad and Tobago: Government proposed cutting excise duties on alcoholic beverages by 25%
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Trinidad and Tobago’s government proposed cutting excise duties on alcoholic beverages by 25% and rewriting import tariffs for higher-value drinks on Tuesday as Finance Minister Davendranath Tancoo presented a TT$63.368 billion budget for 2027 that combines new social spending, tax changes and targeted surcharges, Vinetur reported on October 14.
Speaking in the House of Representatives, Tancoo said the government had reviewed the recent increase in alcohol taxes and wanted what he described as a fairer balance between support for local production, equal treatment of imports and revenue collection. He said the revised excise rates would apply to both locally produced and imported alcoholic beverages.
The government also plans to change customs duties on imported alcohol by replacing volume-based charges with rates linked to product value. Tancoo said the change would mean luxury products pay more duty, using champagne as an example. He said the measure would apply to imported alcoholic beverages that do not receive preferential customs treatment under Trinidad and Tobago’s trade agreements, with higher-value imports facing higher duties.
For the beverage industry, the changes could reshape costs and competition across the market. A lower excise rate may reduce pressure on producers and importers across the category, while the move to value-based
...More info on site
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USA: Constellation Brands lifts beer shipments by refilling distributor inventories
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Constellation Brands spent the past six months sending extra beer into its distribution network after cutting inventory too deeply last year, a move that lifted shipments even as store-level demand remained soft, Vinetur reported on October 22.
The company, which makes Modelo, Corona and Pacifico, said in its latest earnings release that beer shipments reached 237.2 million cases in the six months ended Aug. 31, up 3.7% from a year earlier. Over the same period, depletions, the measure of cases distributors sell to retailers, fell 0.5%, showing that the increase in shipments was driven in part by the need to rebuild stock rather than by stronger consumer demand.
Chief Executive Nick Fink told analysts on the company’s earnings call that Constellation had “overcorrected” inventory levels in the fiscal year that ended in February. He said the company was “testing the lower limits of how low days on hand can go,” and that the cuts created inefficiencies in the distribution channel. According to Fink, Constellation then had to ship more beer to close distributor order backlogs and avoid out-of-stock situations at retail.
The figures show how sharply shipments and underlying sales had diverged. In the quarter ended Aug. 31, 2025, Constellation’s beer shipments fell
...More info on site
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Barley News
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World: Malting barley prices remain stable or are slightly down
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Global malting barley prices remain stable or decreased slightly since the beginning of the month, with the exception of France, where prices have strengthened.
...More info on site
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EU & UK: Barley harvest completed at an estimated 57.1 mln tonnes
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Across Europe, the barley crop’26 view is now complete, at an estimated 57.1 mln tonnes, RMI Analytics reported on October 22.
With the drought
...More info on site
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UK: AHDB anticipates tighter UK barley supply and demand outlook
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AHDB’s early balance sheets for 2026/27 published on October 22 anticipate a tighter UK supply and demand outlook for both wheat and barley compared
...More info on site
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