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E-Malt.com Newsletter 34a
August 19 - August 21, 2013
Quote of the Week
"Man's way to God is with beer in hand."
Koffyar Tribal Wisdom, Nigeria
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Currency Rates
Base Currency: US Dollar
on August 21, 2013 |
Base Currency: Canadian Dollar
on August 21, 2013 |
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1 USD = 0.7476 EUR
1 USD = 0.6386 GBP
1 USD = 1.0372 CAD
1 USD = 1.1013 AUD
1 USD = 97.3852 JPY
1 USD = 2.4101 BRL
1 USD = 32.9875 RUB
1 USD = 6.1660 CNY
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1 CAD = 0.9644 USD
1 CAD = 0.6158 GBP
1 CAD = 0.7209 EUR
1 CAD = 1.0620 AUD
1 CAD = 93.9151 JPY
1 CAD = 2.3242 BRL
1 CAD = 31.8121 RUB
1 CAD = 5.9463 CNY
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Currency Rates Chart
Equities of the Largest Breweries
Canada & USA: Malting barley crops looking extremely well
...Click here
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USA & Canada: Ommegang Brewery to start selling its Take the Black Stout in Canada by fall
...Click here
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Canada, ON: Creemore Springs Brewery revives Creemore Springs Altbier
...Click here
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USA, NY: Erie Canal Brewing Co. is waiting for a license from the New York state to be able to open
...Click here
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USA, CA: Iron John's Brewing Co. to open soon in Tucson
...Click here
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USA, WA: West Seattle Brewing Company's to open on October,1
...Click here
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USA: AB InBev and MillerCoors make their beers stronger in order to win back the younger consumers
...Click here
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Canada: Molson Coors Brewing to repay note issued as part of Starbev acquisition
...Click here
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USA, IL: Moody Tongue Brewing Co. to launch in Chicago
...Click here
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USA, AZ: Grand Canyon Brewing Company releases Pumpkin Springs Porter
...Click here
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Canada, ON: Beau’s All Natural Brewing revives Night Märzen
...Click here
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The Netherlands: Heineken’s beer volume down 3% in H1 2013
...Click here
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India: India seen by analysts as both a buyer and supplier of strategic importance in the evolving global malt supply chain
...Click here
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Denmark: Carlsberg maintains earnings forecast for 2013 as Q2 profit misses estimates
...Click here
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China: China Resources first-half beer sales volume increase by 7% but attributable profit drops
...Click here
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Asia: Japanese brewers working to expand their presence in other Asian markets
...Click here
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World: Barley trade registering activity mainly in the export sector
...Click here
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Russia: Beer market flattened by a flood of new regulations and taxes
...Click here
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Denmark & Finland: Royal Unibrew obtains approval of its acquisition of Oy Hartwall
...Click here
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Russia: Agricultural Ministry lowers its forecast of total grain harvest
...Click here
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Germany: Federal Cartel Office investigates alleged beer price hike collusion
...Click here
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Brazil: Grupo Petrópolis expects growth of about 10% this year
...Click here
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Australia: Coca-Cola Amatil strikes a distribution deal with Molson Coors in Australia
...Click here
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World: Heineken counting on a boost from its radler beer
...Click here
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UK: Malting barley may be in surplus in Scotland this year
...Click here
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UK: SABMiller starts selling unfiltered Pilsner Uquell in the UK
...Click here
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Denmark: Draft beer supplies running out as Carlsberg brewery workers go on strike
...Click here
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The Dominican Republic: Beer output falls 20.5% in H1
...Click here
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Graph of the Week
Table of the Week
World Beer Production by Continent 2000 - 2012
Prices Evolution
Barley Prices
Canadian Malting and Feed Barley Prices
US Malting and Feed Barley Prices
French Malting and Feed Barley Prices
Theoretical Malt Prices
Canadian Malt Prices
US Malt Prices
Theoretical EU Malt Prices
Scientific Digest
How to assess the sensory impact hop varieties used in the boiling process
ABSTRACT
We all know the dilemma of estimating the contribution of a hop variety to the beer flavor when used during boiling. These Japanese researchers propose a standardized protocol for a sensory evaluation of single variety hop samples boiled in water. Using PCA they found that fruity descriptors could be connected to the varieties Citra and a new Japanese variety called Fuano Beauty whereas Saaz and Mittelfrueh hop samples were connected with herbal, tea and spicy flavours. This protocol may help to forecast the flavour contribution of different varieties in the final beer when used as late hop in the wort boiling process.
Read more
Source: Barth Innovations
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These Days in Business History
August 19
1897 1st electric taxi's drive in London
1888 1st beauty contest (Spa, Belgium), 18 year old West Indian wins
1946 Bill Clinton was born, the 42nd US President. (Former Little Rock Attorney)
August 20
1741 Alaska discovered by Danish explorer Vitus Bering
1896 Dial telephone patented
1960 USSR recovers 2 dogs, 1st living organisms to return from space
August 21
1897 Oldsmobile begins operation as a General Motors Corp division
1975 U.S. lightens trade embargo against Cuba
1991 Communist coup is crushed in U.S.S.R. in 2 days
Agenda
August 2013:
06-09: 4th Iberoamerican VLB Symposium 2013 (Buenos Aires, Argentina)
September 2013:
10-12: V Anniversary International Scientific and Practical Conference "Equipment Facilities and Raw Material Base for Malting, Kvass and Beer Brewing Production" (Moscow, Russia)
12-15: Mondial de la Biere (Mulhouse, France)
16-20: Drinktec 2013 (Munich, Germany)
21/09 -06/10: Oktoberfest (Munich, Germany)
26-27: New World Malt Barley and Brewers Conference (Toronto, Canada)
26-28: Stockholm Beer and Whisky Festival 2012 (Stockholm, Sweden)
October 2013:
03-05: Stockholm Beer and Whisky Festival 2012 (Stockholm, Sweden)
30/10-01/11: The Latin American Barley Congress (Bahia Blanca, Argentina)
November 2013:
14-17: Mondial de la Biere (Rio de Janeiro, Brazil)
More events are available on site www.e-malt.com
News Articles
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Canada & USA: Malting barley crops looking extremely well
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Malting barley crops in Canada and the U.S. are looking extremely well. Weather in late spring and early summer has been most beneficial so
...More info on site
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USA & Canada: Ommegang Brewery to start selling its Take the Black Stout in Canada by fall
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Import agency Horizon Beers has announced that it will be bringing the second in the Game of Thrones series of beers from New York’s Ommegang Brewery into Canada this fall, Canadian Beer News reported on August, 19.
Take the Black Stout is a 7% abv stout and it is planned to be released in 750 ml bottles in Ontario, Alberta and BC.
The exact release dates are yet to be confirmed, but it is expected to be soon after the US release in mid- to late-September.
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Canada, ON: Creemore Springs Brewery revives Creemore Springs Altbier
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Creemore Springs Brewery has announced the return of a seasonal beer that was originally released last year for the brewery’s 25th anniversary, Canadian Beer News reported on August, 20.
Creemore Springs Altbier is a traditional German-style ale brewed with the help of Düsseldorf’s historic Zum Schlüssel brewpub.
Creemore Springs Altbier, a limited edition collaborative beer, is available in 473 ml cans at the brewery retail store in Creemore.
It will soon be available at LCBO and Beer Store locations throughout Ontario, and at the Beer Academy retail store in Toronto.
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USA, NY: Erie Canal Brewing Co. is waiting for a license from the New York state to be able to open
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The Erie Canal Brewing Company is soon to be opened in Canastota, The Oneida Daily Dispatch reported on August, 16.
The brewery will be farm-based, meaning that at some point, 100 percent of the ingredients used to make the brew will be sourced locally.
One of the owners, Sam Lanzafame, spoke at a dedication ceremony on Canal Street for new murals along the Erie Canal Trail. In addition to Canastota being the home of the best sausage, the best doughnuts and the best candles, Canastota will soon be home to the best beer, said Lanzafame.
The owners Sam Lanzafame and Jason Tedford, who is also the brewmaster, said the brewery is simply waiting on a license from New York state, but could not speculate on when it would come.
Ideally, they would like to be open within the next few weeks.
Once open, the brewery will concentrate on producing a pale ale.
Recently, Gov. Andrew M. Cuomo encouraged New Yorkers to “Taste NY” as a great way to experience the craft beers of over 100 breweries that make up the ever growing craft beer industry in New York. The New York State Brewers Association provides a user-friendly brewers map of New York and a list of
...More info on site
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USA, CA: Iron John's Brewing Co. to open soon in Tucson
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John Adkisson and his business partner, John Markley, have staked out a space at 245 S. Plumer Ave. in Tucson, AZ and hope to have Iron John’s Brewing Co. running by Nov. 1, Arizona Daily Star reported on August, 17.
The aim of Iron John’s is to create specialty beers.
Adkisson hopes to have six to seven types of bottled beer available at any given time, pulled from his expansive list of recipes.
Among his offerings: an award-winning Belgian peach wheat beer and a green chile beer made with roasted green chiles.
They hope to open the boutique brewery with a mole stout, a beer that will incorporate elements of cocoa beans and chile peppers, just in time for Day of the Dead.
Adkisson said they can afford to experiment because of the small size of their business.
Iron John’s will have a two-barrel system and will produce only in small batches.
They will sell directly from the brewery, but will not have a taproom on the premises.
Adkisson said they also hope to team up with a couple of local bars and tasting rooms to make their selections more readily available.
He mentioned Tap & Bottle and the Good Oak Bar, which is set to open in September
...More info on site
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USA, WA: West Seattle Brewing Company's to open on October,1
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After months of hard work, Drew Locke and Kevin Fawcett, the owners of West Seattle Brewing Company have finally set an opening date for the brewery, Oct. 1, West Seattle Herald reported on August, 16.
With seating for at least 29 people and room for a few more standing, the brewery’s location has been renovated and will have 18 brews on tap at a time.
Fawcett explained, "We can make more than 40 types but only 18 at a time will be available. We're a nano-brewery; we're a barrel and a half at a time. Three kegs to a batch."
That will change in their first year if things go well Fawcett said, meaning a bit more capacity for larger batches will be brought online.
The owners plan to start by manning the taps themselves, as this will allow them to be closer to the beer lovers.
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USA: AB InBev and MillerCoors make their beers stronger in order to win back the younger consumers
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MillerCoors and Anheuser-Busch InBev are increasing the alcohol content in some of their beers in the latest brew battle to win back the younger crowd, ABC reported on August 20.
MillerCoors will increase the alcohol content to 6.9% in their new product, Miller Fortune, following Anheuser-Busch's recent launches of Bud Light Premium and Budweiser Black Crown premium beers.
The two new Bud drinks have 6% alcohol by volume, compared to the 4.2% found in lighter beers. The products are part of an effort to revamp the old Anheuser-Busch image and appeal to a more upscale crowd with a new taste and sleeker packaging.
Miller Fortune will look to draw in millennial males, with 81% of those surveyed interested in the product, said MillerCoors VP-Innovation David Kroll.
Major brewing companies are facing mounting pressures as the popularity of craft beers decreases. Also, younger drinkers are moving more toward liquors, Adage reports.
In addition to growing competition, the two companies have previously been at odds in the industry. Recently, Anheuser-Busch challenged MillerCoor's Coors Light ads, which highlight the "world's most refreshing can." The company complained about Coors' truthfulness of advertising, demanding evidence the can was scientifically superior to others.
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Canada: Molson Coors Brewing to repay note issued as part of Starbev acquisition
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Molson Coors Brewing Company on August 20 announced that it received notice from Starbev L.P. exercising its right to put the EUR500 million Zero-Coupon Senior Unsecured Convertible Bond due 2013 (the "Note").
On or before September 3, 2013, Molson Coors will repay the Note principal (less any applicable withholdings permitted under the terms of the Note), plus the upside amount as of the put exercise date, August 13.
The Note was issued as part of the purchase price paid by Molson Coors for StarBev in June 2012. To satisfy its repayment obligations under the Note, Molson Coors intends to use one or more of the following sources: cash on hand, borrowings from existing credit facilities, and/or the proceeds from the issuance of unsecured commercial paper notes under its commercial paper program announced in March 2013.
Molson Coors Brewing Company is one of the world's largest brewers. The company's operating segments include Canada, the United States, Europe, and Molson Coors International. The company has a diverse portfolio of owned and partner brands, including signature brands Coors Light, Molson Canadian, Staropramen and Carling.
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USA, IL: Moody Tongue Brewing Co. to launch in Chicago
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A new brewery called Moody Tongue Brewing Co. is expected to launch this fall in Chicago, IL, Shanken News Daily reported on August, 16.
The owner, Jared Rouben, a former brewmaster at Goose Island Beer Co., plans to open the facility in a former glass factory on Chicago’s South Side.
His first three beers will be a Bubblegum Plum Belgian Blonde, a Brandied Blackberry Belgian Dubbel and a Gingerbread Chocolate Milk Stout aged in Bourbon barrels.
Rouben has enlisted the help of several local chefs, including Rick Bayless and Stephanie Izzard, in creating what the brewmaster describes as culinary-inspired beers.
The name Moody Tongue reflects his target customer-people with discerning palates. He expects also to open a tasting room adjacent to the brewery open to the public.
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USA, OR: Ninkasi Brewing to release Oktoberfest
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Ninkasi Brewing adds Oktoberfest to its Prismatic Lager Series in time for the fall, Shanken News Daily on August, 16.
The brew will be available on draft and in 12-ounce bottles throughout Oregon, Washington, Idaho, Montana, California and Vancouver from September through October.
Billed as a Dortmund-style lager, Oktoberfest (5.1% abv) is the second beer to be added to the Prismatic Series this year, following the release of Sterling Pils in April.
The series was established in 2011, beginning with the release of Helles Belles, to highlight beers in Ninkasi’s portfolio that are Northwest versions of traditional lager styles.
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USA, AZ: Grand Canyon Brewing Company releases Pumpkin Springs Porter
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Brewing with pumpkin pie in one hand and a can of whipped cream in the other, Drew Carricato, Grand Canyon headbrewer, has captured all of the delicious and spicy flavours of fall in this year’s Pumpkin Springs Porter, Brew Bound reported on August, 19.
Named after the Grand Canyon phenomena, Pumpkin Springs Porter is dark and smooth with a warm finish and pairs perfectly with the flavors of fall.
Pumpkin Springs is a huge pumpkin shaped pond along the Colorado River, overflowing with merky hot springs water stained orange from trace minerals and arsenic. The Grand Canyon Brewing Company recommends getting your pumpkin fix in a bottle of Pumpkin Springs Porter; the hot springs are for viewing only.
The beer is availability in kegs and 22 oz bomber bottles since August 16.
The Grand Canyon Brewing Company’s 22 oz Pumpkin Springs Porter bomber bottles will retail for $5.99-$8.99 each depending on location.
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Canada, ON: Beau’s All Natural Brewing revives Night Märzen
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Beau’s All Natural Brewing is already getting prepared for fall and the annual Beau’s Oktoberfest with the return this week of a favourite autumn seasonal, Canadian Beer News reported on August, 16.
Night Märzen is a 5.5% Oktoberfest lager.
The beer will be available in Beau’s distinctive 600 ml bottle, Night Märzen is being rolled out now to LCBO locations and select restaurants and pubs throughout Ontario. It’s also available at the Beau’s retail store and BYBO home delivery program, where it joins the previously announced Spruce Moose APA and other Beau’s brands.
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Canada, BC: Driftwood Brewery to release Gose-uh
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Driftwood Brewery has announced the release of a rarely seen wheat beer style as its newest seasonal beer, Canadian Beer News reported on August, 20.
Driftwood Gose-uh, a name that illustrates how the style name, Gose, is pronounced, will be available soon at select private liquor retailers in BC and the Driftwood retail store.
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The Netherlands: Heineken’s beer volume down 3% in H1 2013
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Heineken NV, the world’s third-biggest brewer, said on August 21 poor spring weather in Europe led to weak second-quarter revenue and predicted that earnings
...More info on site
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India: India seen by analysts as both a buyer and supplier of strategic importance in the evolving global malt supply chain
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Global beer producers are faced with a conundrum. On the one hand, global beer production has shifted, with more beer being produced closer to
...More info on site
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Denmark: Carlsberg maintains earnings forecast for 2013 as Q2 profit misses estimates
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Carlsberg A/S maintained on August 21 its 2013 earnings forecast as the maker of Tuborg beer reported second-quarter profit that missed estimates, saying it
...More info on site
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China: China Resources first-half beer sales volume increase by 7% but attributable profit drops
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China Resources Enterprise Ltd. said on August 21 that in the first six months of 2013 its beer division recorded turnover and attributable profit
...More info on site
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Asia: Japanese brewers working to expand their presence in other Asian markets
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Major Japanese beer brewers are stepping up production in other Asian countries at a time when the already enormous Asian beer market continues to
...More info on site
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World: Barley trade registering activity mainly in the export sector
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The trade has covered much of the Saudi Arabian, other Middle East and North African demand in barley until December of this year, industry
...More info on site
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Russia: Beer market flattened by a flood of new regulations and taxes
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The world's top brewers once bet big on Russia's famous love of drinking, pouring hundreds of millions of dollars into new plants and distribution
...More info on site
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Poland: Beer production up 58% since 2000
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According to estimates published by the Institute of Agricultural and Food Economics (IERiGŻ), the value of the alcoholic beverages market in Poland grew to
...More info on site
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Denmark & Finland: Royal Unibrew obtains approval of its acquisition of Oy Hartwall
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Danish beer maker Royal Unibrew said on August 19 its acquisition of Heineken’s Finnish brewery Oy Hartwall Ab (Hartwall) has obtained the approval by
...More info on site
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Russia: Agricultural Ministry lowers its forecast of total grain harvest
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Russia’s Agricultural Ministry downgraded its forecast of the total grain harvest last week to 90 mln tonnes from 90-95 mln tonnes previously, citing unfavourable
...More info on site
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Germany: Federal Cartel Office investigates alleged beer price hike collusion
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In a major blow to one of this country’s signature industries, Germany’s top breweries may be facing hundreds of millions of dollars in fines for colluding to raise beer prices over the past two decades, The Washington Times reported on August 20.
The possible penalties were first reported in the German magazine Focus, which obtained what it said were internal documents detailing the probe from the Federal Cartel Office in Berlin. The report represents a significant expansion of the beer price-fixing probe, which originally was thought to be targeting just a two-year window from 2006 to 2008.
Germany is Europe’s largest beer producer, with more than 1,300 breweries producing 5,000 beers, and it is second in the world in annual per-capita beer consumption at 226 pints, trailing only the Czech Republic. The research firm Canadean Ltd. last month reported that German beer prices overall increased by 3 percent in 2012, even though beer consumption in Germany has been flat since 2011 and is projected to decline in the coming years. Overall consumer prices were up 2 percent.
“These seem to be the broadest price hikes in the German beer market since 2008,” Guenther Guder, head of the German Beverage Wholesaler Distributors Federation, told
...More info on site
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Brazil: Grupo Petrópolis expects growth of about 10% this year
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Despite the stagnation currently registered on Brazil’s beer market, Grupo Petrópolis said it had a positive outlook for its performance in 2013. The company
...More info on site
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Australia: Coca-Cola Amatil strikes a distribution deal with Molson Coors in Australia
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As part of its strategy to re-enter the A$11 billion beer market in Australia, Coca-Cola Amatil has struck a deal that will see it distribute a number of Molson Coors’ brands in Australia, including Carling, Coors Light and Blue Moon, Business Spectator reported on August 20.
The company has been keen to re-enter the market since selling its stake in the Pacific Beverages joint venture with SAB Miller in 2011, with the market holding a A$1 billion profit pool and enormous margins.
However, while these brands only account for small sales volumes in Australia, analysts and investors could be sceptical. This is because the deal could take a very long time to produce substantial results for CCA.
As highlighted by The Australian Financial Review, Merrill Lynch is particularly sceptical of the company’s push back into the beer market, suggesting that the move could reflect past results achieved by the company when it was with one of the world’s largest breweries. Earlier this year, an analyst from the group said, “It took Coke nearly five years to establish a little over 1% market share in Australian Beer”. In comparison, Molson Coors is the world’s seventh largest brewer.
However, CCA’s CEO Terry Davis is confident of
...More info on site
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World: Heineken counting on a boost from its radler beer
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When a stagnant European economy and picky consumers gave Heineken NV lemons, the world’s third-largest brewer decided to mix them with beer, Bloomberg reported on August 20.
The company this year rolled out a line of radler drinks, a blend of lemon soda and lager, to 23 markets in its biggest product introduction. It’s venturing that the drink, sweeter and less alcoholic than beer, will win over the ever-elusive female drinker as well as young men who prefer wines or spirits.
Brewers are stepping up efforts to find alternatives to beer amid changing customer preferences. Market leader Anheuser-Busch InBev NV has produced a lime-flavored variety of its Bud Light brand, while Heineken has added tequila to beer to create Desperados. Heineken is reducing its reliance on its eponymous global brand after six years of beer market declines in Western Europe, to which it has a greater exposure than peers.
“Beer’s losing out to other beverages,” said Ian Shackleton, an analyst at Nomura in London. “You could argue that’s because brewers haven’t been as innovative. The question is: how do you innovate in lager? It’s all a bit samey.”
Radler is the cornerstone of Heineken’s strategy to get 6 percent of sales a year from
...More info on site
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UK: Malting barley may be in surplus in Scotland this year
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The good news for cereal growers is the weather is better than last year although there will still be a long wait until the bulk of the 2013 harvest is even ready for the combine. The bad news is that grain prices keep slipping, The Scotsman reported on August 21.
According to Charlotte Garbutt, marketing analyst with the Home Grown Cereals Authority, the deterioration in value has been caused by good harvest prospects right across the northern hemisphere.
In contrast to 2012, where progress reports on poor weather across Europe helped push cereal prices higher, markets have reacted to better weather this year with forecasts of increased yields and prices going downward.
In the US, Garbutt said the risk of excess summer heat was passing and so forecasts for the maize crop had been uprated. It was a similar story in the Black Sea grain producing area, with wheat crops much better than a year ago.
Europe was now busy harvesting and Garbutt said the reports HGCA were collecting showed the yields were better than expected.
All of this has resulted in the futures price of wheat falling by around £20 per tonne in the past two months.
This week’s statistics from the UK Department for
...More info on site
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UK: SABMiller starts selling unfiltered Pilsner Uquell in the UK
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SABMiller, the beer giant behind brands such as Peroni and Grolsch, has started selling Pilsner Urquell, the 171-year-old Czech lager, in Britain in an unfiltered “tanked” form, The Telegraph reported on August 18.
Fresh beer is delivered direct to pubs and bars in a tanker from the brewery and has proved popular in other European countries such as the Czech Republic, Germany and Slovakia for its smoother, less bitter taste.
The fresh beer doesn’t have to go through the same pasteurisation process as bottled and barrelled beer, which can slightly alter the flavour.
Despite the logistical challenges of transporting it in the 24-hour window required to keep it fresh, SABMiller has rolled out the innovation to Britain, where speciality and craft beers are bucking a prolonged decline in the wider market.
After introducing unfiltered Pilsner Urquell to British drinkers at food and drink festivals, SABMiller has signed up its first pub in London, which stores the unpasteurised beer in large copper tanks to retain its freshness.
“Consumers are looking for things that are different, more considered, they are looking for things they can discover, different styles,” said Sue Clark, managing director for SABMiller Europe. “Per capita consumption in some of our markets has declined, so
...More info on site
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Denmark: Draft beer supplies running out as Carlsberg brewery workers go on strike
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Bars in Denmark risk running out of draft beer after a labor dispute caused production to be halted at a brewery operated by Carlsberg A/S, Bloomberg reported on August 20.
The brewery, located in the town of Fredericia, produces all of Carlsberg’s draft beer in Denmark, spokesman Jens Bekke said. Carlsberg estimates it controls about 70 percent of the country’s draft beer market, he said.
Workers in a part of the brewery where beer is transferred to kegs walked out Aug. 14 because a new hire isn’t affiliated to a union that all other employees are, Bekke said. The 130 strikers are part of a total workforce of 800 at the site, he said.
Carlsberg has a stock of draft products lasting about a week and customers usually hold one-to-two weeks of inventory, Bekke said. The company has an option to substitute some of the affected products with bottled beer, he said.
Labor laws prevent Carlsberg from asking whether or not a person is part of a union when recruiting. Such laws also prohibit the company from dismissing the worker. The Danish labor court has ordered striking workers at the Fredericia plant to be fined for every hour they are on strike.
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The Dominican Republic: Beer output falls 20.5% in H1
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Production of beer in the Dominican Republic fell 20.5% in the first half of this year, the Central Bank reported on August 19.
Other products such as soft drinks posted a of 26.9% growth, the report says, but doesn’t specify what spurred the decline in beer production.
The decline was forecast by Dominican National Brewery CEO Franklin Leon in April, he when warned that once enacted, the tax reform would lead to a plunge in beer sales of more than 20%, compared with the same period last year.
Speaking at the National Palace after a meeting with president Danilo Medina, Leon said due to the economic situation, beer sales "aren’t as we’d like" but noted that “things are going well in the Brewery."
Dominican breweries contribute 1.7% of GDP and account for 6.5% of tax revenue, despite the 1.1% decline in rum production, according to Central Bank figures.
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