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E-Malt.com Newsletter 38a
September 19 - September 21, 2016
Quote of the Week
Education is what remains after one has forgotten what one has learned in school.
Albert Einstein
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Currency Rates
Base Currency: US Dollar
on September 21, 2016 |
Base Currency: Canadian Dollar
on September 21, 2016 |
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1 USD = 0.8948 EUR
1 USD = 0.7688 GBP
1 USD = 1.3211 CAD
1 USD = 1.3249 AUD
1 USD = 101.8000 JPY
1 USD = 3.2650 BRL
1 USD = 64.7513 RUB
1 USD = 6.6692 CNY
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1 CAD = 0.7568 USD
1 CAD = 0.5818 GBP
1 CAD = 0.6772 EUR
1 CAD = 1.0027 AUD
1 CAD = 77.0500 JPY
1 CAD = 2.4710 BRL
1 CAD = 48.9790 RUB
1 CAD = 5.0474 CNY
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Currency Rates Chart
Equities of the Largest Breweries
Canada, NS: Tidehouse Brewing planning to launch in Halifax in late October
...Click here
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Canada, ON: Refined Fool Brewing receives council approval for opening second location in Sarnia
...Click here
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USA, NY: Evil Twin Brewing building new production facility in Brooklyn
...Click here
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USA, MI: Elk Brewing Company holds grand opening for its second location
...Click here
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Canada, AB: Changes in Alberta’s legislation make craft brewery business thrive
...Click here
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USA, TX: Growing interest from craft breweries and distilleries makes Texas researchers take a look at growing barley
...Click here
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USA: Guinnes & Co. releases two limited-time beers from The Brewers Project
...Click here
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USA & Canada: Diageo to combine its US and Canadian spirits divisions
...Click here
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USA, OH: FigLeaf Brewing Co. to host grand opening on October 8
...Click here
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World: Malt shipments by major exporters virtually unchanged in 2015/16 vs. previous year
...Click here
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World: A group of hedge funds could unintentionally jeopardize the AB InBev-SABMiller deal
...Click here
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World: Diageo’s 2017 fiscal year has “started well” - CEO
...Click here
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Vietnam: Vietnam aims to produce 4.1 bln litres of beer in 2020
...Click here
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India: Heineken increases its equity stake in United Breweries
...Click here
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Nigeria: Guinness Nigeria Plc blames its first annual loss in at least 30 years on tough economic environment
...Click here
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World: Global barley production seen 3 mln tonnes down this year
...Click here
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Namibia: Namibia Breweries Limited reports 43.8% increase in annual profit after tax
...Click here
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EU: The EU Commission expects new barley crop to total 59 mln tonnes
...Click here
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Brazil: Kirin Holdings begins partnership negotiations to turn around its Brazilian business
...Click here
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Venezuela: Cost of beer production up by 6,500 percent because of lack of resources and federal minimum wage increase
...Click here
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Nigeria: Guinness Nigeria receives $95 mln loan from parent Diageo to cope with dollar shortages
...Click here
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UK: Diageo said to be reviewing staff levels in order to make savings of £500 mln
...Click here
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Ireland: Heineken confirms some of its products were mislabelled and sold as craft beer in Ireland
...Click here
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Graph of the Week
Table of the Week
World Barley Production by Country
Prices Evolution
Barley Prices
Canadian Malting and Feed Barley Prices
US Malting and Feed Barley Prices
French Malting and Feed Barley Prices
German Malting Barley Prices
Theoretical Malt Prices
Canadian Malt Prices
US Malt Prices
Theoretical EU Malt Prices
Scientific Digest
HOW IMPORTANT IS THE HSI VALUE FOR
THE SENSORY PROPERTIES OF WHIRPOOL
HOPPED AND DRY HOPPED BEERS?
ABSTRACT
The HSI value is a very important parameter for
brewers to evaluate the quality of hops used for
brewing. However, few investigations have been done
on the sensorial influence on the final beer when
hops with higher HSI values are used. Our team
worked with the varieties Perle and Saaz, purposely
oxidizing the samples resulting in HSI values varying
between 0.27 (low), 0.33 (medium) and 0.49 (high).
Beers produced were hopped in the whirlpool and
additionally dry hopped. With the whirlpool hopped
beers, the HSI value was less important than in the dry
hopped beers. The beers dry hopped with hops of high
HSI values were rated slightly lower in flavor and aroma
quality, however not significantly.
Zunkel, M.: Effects in beer hopped with German Perle and Czech Saaz pellet hops with three
different HSI values, poster presentation 138 at the World Brewing Congress 2016.
Read more
Source: Barth Innovations
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These Days in Business History
19 September
1849 - 1st commercial laundry established in Oaklan, California
1854 - Henry Meyer patents sleeping rail car
1876 - 1st carpet sweeper patented (Melville Bissell of Grand Rapids, Mich)
1887 - Dr. Graham Edgar, developer of the octane rating system, was born in Fayetteville, Arkansas, on this day
1888 - World's 1st beauty contest (Spa, Belgium)
20 September
1519 - Portuguese navigator Ferdinand Magellan sets sail from Spain in an effort to find a western sea route to the rich Spice Islands of Indonesia
1839 - 1st railroad in the Netherlands opens (Amsterdam-Haarlem)
1877 - Chase National Bank opens in NYC (later merges into Chase Manhattan)
21 September
1784 - The first daily newspaper in the United States, the Pennsylvania Packet and Daily Advertiser, begins publishing
1883 - 1st direct US-Brazil telegraph connection
1931 - The day after the Bank of England abandons the gold standard, U.S. stocks tumble
Agenda
September 2016:
08-10: Irish Craft Beer Festival 2016 (Dublin, Ireland)
14-15: Food and Drink Technology Africa 2016 (Johannesburg, South Africa)
19-03 October: Oktoberfest 2016 (Munich, Germany)
24-25: Whisky Live Paris 2016 (Paris, France)
26-28: VLB Ibero-American VLB Symposium 2016 (Santiago de Chile, Chile)
28-30: Beer and Soft Drinks Industry - 2016 (Kyiv, Ukraine)
29-01 October: Stockholm Beer & Whisky Festival 2016 (Stockholm, Sweden)
October 2016:
06-08: Stockholm Beer & Whisky Festival 2016 (Stockholm, Sweden)
06-08: Great American Beer Festival 2016 (Denver, USA)
08-10: Brouwplus 2016 (Antwerp, Belgium)
11-14: China Brew, China Beverage 2016 (Shanghai, China)
21-23: The Finest Spirits & Beer Convention 2016 (Bochum, Germany)
November 2016:
08-10: Brau Beviale 2016 (Nuremberg, Germany)
09-12: Vietfood & Beverage - ProPack 2016 (Hanoi, Vietnam)
December 2016:
15-17: drink technology India 2016 (Mumbai, India)
More events are available on site www.e-malt.com
News Articles
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Canada, NS: Tidehouse Brewing planning to launch in Halifax in late October
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The Coast reports that a new nano-brewery will be opening soon in downtown Halifax.
Tidehouse Brewing is being opened by friends and homebrewers Shean Higgins and Peter Lionais in a 550-square-foot space at 2-5187 Salter Street near Barrington. The facility will include a small retail store selling 1 litre growlers, and Tidehouse beers will also be available on draught at local bars and restaurants.
In a profile on the Atlantic Canada Beer Blog, the partners indicate that they will be launching with four brands: Golden Glacier, The Copper, Mild Thing, and Like A Motorcyc-ale.
Tidehouse Brewing is planning to launch in late October.
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Canada, ON: Refined Fool Brewing receives council approval for opening second location in Sarnia
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Blackburn News reports that Refined Fool Brewing has received approval from Sarnia council to open a second location in the city’s downtown.
Co-owner Nathan Colquhoun appeared before council on September 12th to present the company’s plans for the former Sarnia This Week building at 153 Christina St. S., where it intends to establish a second brewery to keep up with demand for its beer, as well as an events centre that will be suitable for concerts, weddings and other events.
Council approved a change in zoning for the building from general commercial to light industrial, which will allow the new site to focus on larger scale production for LCBO and licensees.
A timeline for construction and opening of the new facility has yet to be announced.
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USA, NY: Evil Twin Brewing building new production facility in Brooklyn
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Evil Twin Brewing is building a new production facility in Brooklyn, New York. The nearly 15,000 square foot space should be open by mid-2017, Beer Street Journal reported on September 15.
Jeppe Jarnit-Bjergsø has been at the helm of the brewery since 2010. A bit like world-renowned Mikkeller, Evil Twin Brewing has carried a “gypsy brewer” status, meaning the brewery’s beers are contracted at various breweries around the United States. Most frequently at Westbrook Brewing in Mount Pleasant, South Carolina, and Two Roads Brewing in Stratford, Conneticut.
The new space will house 10,000 square feet of production space, plus a tap room and outdoor area.
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USA, MI: Elk Brewing Company holds grand opening for its second location
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Grand Rapids’ Elk Brewing Company has been a must-visit craft beer spot on Wealthy Street since opening two years ago. In a recent expansion, the brewery held its grand opening of its Comstock Park location on Sept. 15, MLive.com.
The new brewery is located at 400 Dodge Street in Comstock Park, near the Fifth Third Ballpark. Manager Mike Goodwin hopes the brewery will become a staple in the community.
"I hope to add a something little bit unique to (Comstock Park)," Goodwin said. "I want to work on getting committed to the community."
After two days of soft openings, Goodwin is excited to see the brewery finally open to the public.
"Doing something like this is very exciting," he said. "It's up to us to represent what the community is."
The 5,000-square-foot space can hold about 100 people inside and 120 on an outdoor patio. The bar inside opens with rolling garage doors to the patio which will be closed in the winter.
The bar boasts 20 taps that will feature 14 Elk brews along with four local ciders. The brewery also plans to offer red and white wines made special for the brewery by Bel Lago Vineyards and Winery.
The extra brewing space was a major
...More info on site
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Canada, AB: Changes in Alberta’s legislation make craft brewery business thrive
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Thanks to two landmark changes in Alberta’s legislation, along with a powerful — and growing — appetite for local food and drink, the craft brewery business in Wild Rose Country is in full bloom, Edmonton Journal reported on September 16.
In less than three years, the number of craft breweries and small brewpubs (defined as brewers producing less than 300,000 hectolitres per year) has almost quadrupled, going from 14 to 52.
According to the Alberta Gaming and Liquor Commission, there are another eight craft brewery licences pending. And according to some industry observers, things could double again within five years.
Alberta Small Brewers Association executive director Terry Rock is convinced microbreweries are the next big thing for Alberta’s economy and tourism.
“We’ve got the natural environment that people want to visit and you can start to connect the natural environment, our agriculture and the people that work here with this industry that makes a real neat package,” says Rock.
“Unlike other places, the barley is grown right next to the brewery.”
The upswing for Alberta’s craft brewery business really began in 2013 when the Alberta Gaming and Liquor Commission removed minimum production requirements.
Up until then, manufacturers had to produce a minimum capacity — 5,000 hectolitres a
...More info on site
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USA, TX: Growing interest from craft breweries and distilleries makes Texas researchers take a look at growing barley
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Barley might not be on the top of the list as a feed and forage for livestock, but the growing interest in craft breweries and micro distilleries has Texas A&M AgriLife researchers taking a look at the crop, AgriLife reported on September 16.
Currently, barley is grown on only about 30,000 acres in Texas, said Dr. Clark Neely, Texas A&M AgriLife Extension Service state small grains specialist, College Station. It is mainly used for feed and forage for livestock.
But that is expected to change somewhat in the near future, Neely said, due to increased interest in craft breweries and distilleries searching for locally grown malt and distilling ingredients.
The craft brewing movement is exploding across the U.S., he said. Texas was home to 189 craft breweries in 2015 – a number that tripled in the last five years and now ranks seventh in the country. These breweries produce approximately 1.1 million barrels of beer annually, which requires roughly 200,000 tons of barley grain and could potentially support 100,000 acres or more of barley in the state.
The missing link is craft malt houses, where the grain is soaked and made into malt, Neely said. Breweries require malted barley and cannot purchase barley straight
...More info on site
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USA: Guinnes & Co. releases two limited-time beers from The Brewers Project
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A long-time favorite recipe in Belgium and a small batch ale originally brewed as a holiday gift for a lucky few outside of the Open Gate Brewery led to the two latest Guinness & Co. releases from The Brewers Project: Guinness Antwerpen Stout and Guinness Rye Pale Ale, Yahoo Finance reported on September 20.
For a limited time, the two new beers join a growing Guinness lineup that has recently welcomed additions such as Guinness Blonde American Lager and Guinness Nitro IPA conceived by the experimental brewery within St. James's Gate.
Guinness Antwerpen Stout was brewed for the first time in 1944 for its namesake: the Belgian city of Antwerp. Though known by a different name – Guinness Special Export – it's still a fan favorite in the European city. The beer won everyone over with its intense roasted malt, smoked wood, raisin and licorice notes and its sweet smells of bittersweet chocolate, coffee and a touch of black currant. In fact, even the brewers within St. James's Gate have been known to line up for a few bottles before the beer makes its way to Belgium.
"It's been more than 70 years since we first exported the Antwerpen Stout from Dublin
...More info on site
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USA & Canada: Diageo to combine its US and Canadian spirits divisions
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Diageo is to combine its US and Canadian spirits divisions as part of a North American shake-up at the company, it said on September 20.
US spirits president Tom Looney will expand his responsibilities to include Canada, the group said. Current Diageo Canada head Jakob Ripshtein will continue in his other role as Diageo North America CFO, while Peter Kourtis will continue to lead Canada sales as GM.
Meanwhile, Looney will take over the helm of National Accounts and central commercial support activities from Jeff Ivey, who will retire in June next year.
Deirdre Mahlan, president for Diageo North America, said: "In Canada, the changes we are making to our structure and reporting lines are designed to strengthen this important business leveraging our North America resources more fully."
Mahlan praised Ivey's career, saying he had helped shape the company's commercial execution. "Jeff is known as a thoughtful, strategic leader whose experience has helped him navigate the complexities of our industry in ways that have helped move our business forward, especially with regard to distributor alignment," she said.
Diageo is undergoing a cost-cutting drive as it looks to continue a recent turnaround in fortunes. A media report at the weekend claimed that the company is set
...More info on site
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USA, OH: FigLeaf Brewing Co. to host grand opening on October 8
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FigLeaf Brewing Co., a new Middletown brewery with ties to Dayton’s craft-brewery scene, has announced it will host a grand opening Oct. 8, Dayton Daily News reported.
The event will be held from noon to midnight at 3387 Cincinnati-Dayton Road in Middletown, just north of the Monroe border. Three food trucks are scheduled to attend, FigLeaf co-founder Brian Yavorsky said in an interview this morning.
“We’re shooting to have four or five beers on tap,” including an IPA, a porter, a red saison and a Basmati Rice Cream Ale, Yavorsky said.
The 8,400-square-foot brewery has a 1,900-square-foot taproom that seats about 90 to 100, and a 1,400-square-foot patio that will accommodate dozens more. “We’re expecting a crowd” for the grand opening, Yavorsky said.
Jeff Fortney — formerly the head brewer at Warped Wing Brewing Company in downtown Dayton, where he served as second-in-command on the production side to brewmaster John Haggerty — is one of five co-founders of the new venture.
“Having someone with Jeff’s brewing experience has been invaluable,” Yavorsky said.
FigLeaf’s taproom initially will feature beers made in-house, but has the capacity for 20 taps, Yavorsky said. Plans call for distributing FigLeaf beers in kegs to local pubs and restaurants in the months ahead,
...More info on site
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World: Malt shipments by major exporters virtually unchanged in 2015/16 vs. previous year
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The IGC reports malt shipments of the major exporters in the campaign July/June 2015/16 virtually unchanged at 6.182 mln tonnes grain equivalent (app. 5.0
...More info on site
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World: A group of hedge funds could unintentionally jeopardize the AB InBev-SABMiller deal
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As SABMiller PLC’s shareholders have started voting on a $100 billion-plus deal to be acquired by rival Anheuser-Busch InBev NV, some investors and bankers
...More info on site
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World: Diageo’s 2017 fiscal year has “started well” - CEO
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Diageo’s 2017 fiscal year has “started well”, giving the group “confidence” that it can achieve its full-year growth ambitions, CEO Ivan Menezes was quoted
...More info on site
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Vietnam: Vietnam aims to produce 4.1 bln litres of beer in 2020
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Vietnam aims to produce 4.1 billion litres of beer in 2020, up from 3.4 billion litres in 2015, according to a blueprint on beer,
...More info on site
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India: Heineken increases its equity stake in United Breweries
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Dutch brewer Heineken has increased its equity stake in United Breweries Ltd by acquiring an additional 0.7% through an open market transaction on September 16, further firming up its grip over the Kingfisher beer maker, VCCircle reported.
Heineken shelled out around Rs 152 crore ($22.7 million) to pick the shares. It bought the stake from Yes Bank, stock exchange filings show. Heineken now owns 43.7% stake in United Breweries.
It could not be immediately ascertained if the seller offloaded a part of the stake pledged by Vijay Mallya, the co-promoter of United Breweries. Last November, Yes Bank had invoked 3.02% stake of United Breweries, pledged by McDowell Holdings, a part of Mallya’s UB Group.
Separate email queries to Heineken and Yes Bank did not immediately respond to a request for comment.
Mallya, who faces several charges over bank debt raised by group firms and is currently in the UK after being labelled as a 'wilful defaulter' by several banks, has been slowly losing his grip on what is his last big company in India.
He has already lost control of United Spirits and in February stepped down from its board after a tussle with Diageo.
UB Group held 30.86% stake in United Breweries as of June
...More info on site
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Nigeria: Guinness Nigeria Plc blames its first annual loss in at least 30 years on tough economic environment
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Guinness Nigeria Plc, the country’s second-biggest brewer, posted its first loss in at least 30 years as a downturn in Africa’s most populous nation
...More info on site
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World: Global barley production seen 3 mln tonnes down this year
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The average IGC/UkrAgroConsult/Agreste estimate of the world production of all grains is 2.069 bln tonnes (last year – 2 bln), of which wheat 743
...More info on site
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Namibia: Namibia Breweries Limited reports 43.8% increase in annual profit after tax
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On September 16 Namibia Breweries Limited (NBL) announced its annual financial results that indicate profit after tax increased by 43.8 percent, mainly due to the deferred tax write-back in the current year, New Era reported.
As at December 01, 2015, Heineken South Africa had an unrecognised deferred tax asset amounting to N$1.6 billion. In 2013, the O&L Group recognised a full write-down of its portion (15.5 percent) of the deferred tax asset in Heineken SA (formerly known as DHN Drinks (Pty) Limited), amounting to N$188.1 million.
During the current year, after the restructuring of the South African operations, the directors considered that at year end, a portion of the N$1.6 billion assessed loss in Heineken SA is recoverable and therefore included an amount of N$89.2 million, being its share of the deferred tax asset included in the Heineken South Africa (Proprietary) Limited accounts.
Overall, NBL delivered excellent results for 2016, growing operating profit and Namibian beer volumes by 6.7 percent and 8 percent respectively. Turnover is down by 0.3 percent and is mainly impacted by volume migration to South Africa.
As a result of the volume migration, volumes shipped to RSA were down 43 percent over the comparative period, in order to efficiently utilise
...More info on site
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EU: The EU Commission expects new barley crop to total 59 mln tonnes
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The EU Commission corrected its S/D balance, the new crop estimate is 59 mln tonnes, exports 8.0 mln tonnes of barley and malt combined,
...More info on site
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Brazil: Kirin Holdings begins partnership negotiations to turn around its Brazilian business
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Japan's Kirin Holdings began negotiating with three peers on September 20, seeking an ally to help turn around its foundering Brazilian beer operations, Nikkei
...More info on site
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Venezuela: Cost of beer production up by 6,500 percent because of lack of resources and federal minimum wage increase
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The National Federation of Distillers of Venezuela has attributed a 6,500 percent increase in the cost of beer production to a lack of resources and a federal minimum wage increase, UPI.com reported on September 19.
In many Venezuelan states, the price for a case of beer has nearly tripled since April, according to Franklin González, president of the distillers group, El Tiempo reports.
Venezuelan brewers import large quantities of raw materials to make beer, and the introduction of a new currency exchange system earlier this year, as well as President Nicolas Maduro's most recent minimum wage increase of 50 percent in August, have caused the cost of producing beer to skyrocket - meaning prices have also gone up.
"Sales are down 70 percent to 80 percent in some places and that's terrible for all of us," Gonzalez said.
One of Venezuela's most famous rums, Cacique, is cheaper than its volume-equivalent in beer. Gonzalez said retailers that once sold more than 100 cases of beer a week are now selling less than 15. At least 30 liquor stores have closed since Maduro's latest minimum wage increase, Gonzalez added.
Venezuela's economic crisis, which was exacerbated by a decrease in oil prices, has led to a shortage of
...More info on site
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Nigeria: Guinness Nigeria receives $95 mln loan from parent Diageo to cope with dollar shortages
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Guinness Nigeria said on September 21 that it had received a $95 million loan from parent Diageo to help it cope with dollar shortages in the West African country caused by a slump in crude prices, Reuters reported.
Chief finance officer Ronald Plumridge said the company's currency needs were much bigger than it was able to source locally and from its exports and so Diageo had stepped in with the loan.
The loan was priced at 3-month Libor plus 4.75 percent, he said.
Nigeria is in recession due to a slump in oil prices, which has hurt its currency and government revenues.
In June, the central bank floated the naira to try to resolve the dollar shortage and to preserve its dwindling foreign reserves. The naira lost a third of its value after the float.
"Longer term we intend to source raw materials locally," Plumridge told an analysts' call. "The mix of the business, FX impact and inflation, put pressure on the growth."
Guinness Nigeria on September 20 recorded a pretax loss of 2.35 billion naira for 2016, its first loss in 30-years, hit by declining sales, dollar shortages and domestic inflation running at 11-year high of 17.6 percent.
It said it would cut its total dividend
...More info on site
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UK: Diageo said to be reviewing staff levels in order to make savings of £500 mln
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Diageo is said to be reviewing staff levels as it works to make savings of £500 mln, with speculation mounting that jobs may be cut from its London HQ and global operations team, The Drinks Business reported on September 20.
The world’s largest drink producer is currently in the middle of a three year productivity drive to make savings of £500 mln by 2019, cutting overheads with the intention of reinvesting two thirds of the savings into other areas of the business.
Around 1,500 members of staff are currently based at Diageo’s London offices. While some reports have speculated that as many as a quarter of those jobs could be at risk, the number of jobs that could be cut, if at all, has not been confirmed.
When approached by the drinks business, a Diageo spokesperson said: “We announced last year that we would deliver a productivity programme over the three years ending fiscal 2019. This covers all aspects of how we run our business, as we continue to become more efficient and invest behind growth. As you would expect our employees will be the first to hear about any proposed changes to our structure.”
In addition to job cuts at its London headquarters,
...More info on site
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Ireland: Heineken confirms some of its products were mislabelled and sold as craft beer in Ireland
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Heineken Ireland has confirmed that a number of its products have been mislabelled and sold as craft beer at various locations around the country, The Drinks Business reported on September 20.
The Irish branch of the Dutch brewing giant said that some of its “low-volume high-quality draught products” had been sold at a number of pubs under the guise of local craft beers, something which the company has confirmed has stopped now.
This means that when somebody ordered a local craft ale they were actually getting a drink from Heineken’s portfolio, which includes the likes of Desperados, Tiger, Fosters, Coors Light, Fosters, Sol, Amstel Radler, Beamish Stout and Murphy’s, among others.
“We apologise to our valued consumers and customers. This should not have happened. Heineken Ireland has appointed an external firm to investigate and help us understand how this occurred and to prevent it happening again,” a statement said (via News Talk).
The report states that an external investigation is now being carried out by the financial services advisory firm, Grant Thornton. This process began several weeks ago and so far it is unconfirmed as to whether any Heineken employees were aware of what was happening.
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