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E-Malt.com Newsletter 39b
September 29 - October 02, 2016
Quote of the Week
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Will Rogers
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Currency Rates
Base Currency: US Dollar
on September 30, 2016 |
Base Currency: Canadian Dollar
on September 30, 2016 |
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1 USD = 0.8910 EUR
1 USD = 0.7688 GBP
1 USD = 1.3092 CAD
1 USD = 1.3031 AUD
1 USD = 101.2900 JPY
1 USD = 3.2230 BRL
1 USD = 63.1581 RUB
1 USD = 6.6679 CNY
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1 CAD = 0.7637 USD
1 CAD = 0.5871 GBP
1 CAD = 0.6805 EUR
1 CAD = 0.9951 AUD
1 CAD = 77.3600 JPY
1 CAD = 2.4614 BRL
1 CAD = 48.1801 RUB
1 CAD = 5.0923 CNY
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Currency Rates Chart
Equities of the Largest Breweries
USA: Molson Coors Brewing a step closer to take over MillerCoors
...Click here
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Canada: Canada’s domestic barley use up 11% in 2015-16
...Click here
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Canada: Craft brewers worried about this year’s barley crop quality
...Click here
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USA, GA: Twain’s Brewpub’s brewer to open Locomotion Brewing Co. in Chamblee
...Click here
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USA, VA: Strangeways Brewing inaugurates its Fredericksburg location
...Click here
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USA: Craft beer sector growing so fast that hop growers can’t keep up with the demand for its newest hits
...Click here
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USA, VA: Three Notch’d Brewing Co. completes work on its brewery in Richmond
...Click here
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USA, LA: Royal Brewery New Orleans may start brewing by the end of the year
...Click here
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USA, OR: Portland’s Wayfinder Beer to open its doors on October 1st
...Click here
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World: AB InBev’s takeover of SABMiller leaves its Japanese rivals far behind
...Click here
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India: United Breweries posts 13-fold rise in Q1 net profit
...Click here
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Germany: Spring barley crop seen at 1.7-1.8 mln tonnes this year
...Click here
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UK: Spring barley yields are lower than last year but quality is good
...Click here
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South Africa: SABMiller to exit JSE shift rankings on September 30
...Click here
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India: AB InBev agrees to pay $6 mln to settle bribery case
...Click here
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Kenya: New amendments to Kenya’s Finance Act allow East African Breweries to apply for excise tax remission for its Senator beer
...Click here
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Graph of the Week
Table of the Week
World Beer Production by Continent 2005 - 2015
Prices Evolution
Barley Prices
Theoretical Malt Prices
Scientific Digest
POLYPHENOL PROFILES OF DIFFERENT
HOP VARIETIES AND THEIR IMPACT ON
BEER FLAVOR
ABSTRACT
A Japanese research team investigated the different
polyphenol profiles of the varieties Hallertau Mittelfrueh,
Hallertau Tradition, Saazer, Tettnanger, Perle and
Cascade. Analysing a range of different polyphenol
monomers, they found that the classic European land
varieties have more proanthocyanidin whereas the
others had more flavonones and prenylflavonoids.
These different profiles showed a flavor difference
in the brewed beers in regards to sweetness and
astringency. A strong correlation to the genetic
heritage was also visible. The researchers found that
proanthyocyanidin correlates with the fullness of beer
while the content of flavonone and prenylflavonoid
correlates with the intensity of astringency.
Hasegawa, T.: Comparison of characteristics of taste and polyphenols in beer using
different hop varieties, poster presentation 129 at the World Brewing Congress.
Read more
Source: Barth Innovations
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These Days in Business History
29 September
1915 - 1st transcontinental radio telephone message is sent
1950 - Telephone Answering Machine created by Bell Laboratories
1979 - Gold hits record $400.20 an ounce in Hong Kong
30 September
1452 - 1st book published, Johann Guttenberg's Bible
1988 - IBM announces shipment of 3 millionth PS/2 personal computer
1997 - Microsoft Corp releases Internet Explorer 4.0
01 October
1874 - Rotterdam opens drink water pipes
1888 - National Geographic magazine publishes for 1st time
1898 - Dutch railway Alkmaar-Receiver opens
1958 - NASA is created
02 October
1608 - Prototype of modern reflecting telescope completed by Jan Lippershey
1866 - J Osterhoudt patents tin can with key opener
1956 - 1st atomic power clock exhibited in New York City
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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USA: Molson Coors Brewing a step closer to take over MillerCoors
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Shares of Molson Coors Brewing Company gained almost 2% on Sep 28, 2016, driven by the news that shareholders of London-based SABMiller PLC voted in favor of its $103 billion merger with Anheuser-Busch InBev, Nasdaq reported on September 29.
This brings Molson Coors a step closer to the takeover of the remaining 58% stake in MillerCoors, the joint venture formed between SABMiller and Molson Coors. Molson Coors already owns 42% of MillerCoors. The acquisition deal, announced in Nov 2015, came as a requirement for securing regulatory approval for big beer deal between AB InBev - SABMiller.
Anheuser Busch reached a deal to acquire London-based SABMiller in Oct 2015. Per the deal, AB InBev is offering common SABMiller shareholders $67.59 per share, while SABMiller's two biggest investors, Altria Group, Inc. and the Santo Domingo family from Columbia will be offered cash and shares alternative worth about $60 per share.
AB InBev agreed to divest SABMiller's 58% stake in MillerCoors to Molson Coors, in order to satisfy the U.S. regulators.
Besides purchasing SABMiller's 58% stake in MillerCoors, Molson Coors plans to buy the Miller brand portfolio globally and retain the rights to all the brands currently in the MillerCoors portfolio for the U.S. market, including Redd's
...More info on site
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Canada: Canada’s domestic barley use up 11% in 2015-16
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For 2015-16, Canada’s total domestic use increased by 11% to 6.1 million tonnes. This is below the previous five-year average and 15% below the
...More info on site
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Canada: Craft brewers worried about this year’s barley crop quality
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Bad weather from Canada to Europe is about to alter the economics of the beer industry’s fastest-growing market, Agweb reported on September 28.
Craft brewers like Jeff Orr, who co-founded Tool Shed Brewing in Calgary, rely on high-grade barley malt used to create the unique flavors that have led to a boom in the popularity of small-batch beers. Malt accounts for 43 percent of Orr’s ingredient costs. But this year, grain quality has dropped after parts of the Canadian Prairies got three times the normal rainfall.
And it isn’t just in Canada, the world’s sixth-largest barley grower. France and Germany, the biggest producers after Russia, are also harvesting less this year because of heavy rains. Global barley output is set to drop for the second time in three years, U.S. Department of Agriculture data show. That’s boosting costs for brewers and distillers, who use an estimated 30 million tons of malted grain annually. Some are passing that cost along to customers.
“We don’t have a lot of choices,” because malted barley is essential to the process, said Charlie Bredo, co-founder of Troubled Monk Brewery in Red Deer, Alberta. “At the end of the day, you’ve got to filter that down to
...More info on site
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USA, GA: Twain’s Brewpub’s brewer to open Locomotion Brewing Co. in Chamblee
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Chase Medlin, the longtime brewer at Twain’s Brewpub in Decatur, is set to debut a new craft brewery, Locomotion Brewing Co., in Chamblee, which should be open to the public in spring 2017, Atlanta Journal Constitution reported on September 27.
A former homebrewer, Medlin was the assistant brewer after Twain’s made the change from neighborhood pub to brewpub, and later worked with David Stein, before Stein left Twain’s to found Creature Comforts in Athens. Medlin took over as brewmaster in late 2012.
Known for his wide-ranging portfolio of beers, including Criminal Sin IPA, and imaginative collaborations with other craft breweries, like 7th Sun, Terrapin, Three Taverns, SweetWater, and Second Self, Medlin often consults with local chefs and uses fruit, herbs and spices in his creations.
“Last year, I did 67 different recipes,” Medlin said in an interview earlier this year for a story about brewpubs. “It’s nice with the local community and having close friends that are in the culinary world to find what’s fresh or in season to incorporate into our beers.
“We’ve done summer seasonals with infusions of fruit and spicy peppers and all sorts of other things. But what I love about our brewpub is that we have something for everybody,
...More info on site
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USA, VA: Strangeways Brewing inaugurates its Fredericksburg location
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Virginia Gov. Terry McAuliffe pulled a temporary tap inside a Fredericksburg warehouse on September 29, filled a Strangeways Brewing glass with beer and took a sip.
“Ah, that’s good,” he exclaimed. “It’s good to be governor!”
McAuliffe was at the former Burton’s Menswear warehouse at 350 Lans-downe Road to give Neil Burton, founder of Strangeways Brewing in Henrico County, $150,000 from the Virginia Department of Agriculture and Forestry Industries Fund toward opening Strangeways Brewing Fredericksburg, fredericsburg.com reported.
Fredericksburg’s Economic Development Authority will match the grant in $50,000 installments over three years.
The state fund goes toward businesses that use Virginia-grown products. Strangeways has promised to use 12,000 pounds of Virginia honey, hops, pumpkins and other agricultural products at the Fredericksburg location over the next three years. That’s about 43 percent of what will go into its various beers.
“They are sourcing products from Virginia farmers,” McAuliffe said. “That’s a real boon for them.”
Burton said the products will include pumpkins from Miller Farms in Locust Grove, which will flavor Strangeways’ Gourd of Thunder Imperial Pumpkin Porter. He’ll also use wildflower honey from Golden Angels Apiary near Harrisonburg. It’s a key ingredient in Strangeways’ Albino Monkey Belgian White Ale, among others.
The microbrewery will invest $2.5 million in
...More info on site
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USA: Craft beer sector growing so fast that hop growers can’t keep up with the demand for its newest hits
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Athens, GA-based Creature Comforts Brewing is growing so fast that its supply chain can’t keep up, The Australian reported on September 29.
The brewer has had so much trouble finding enough of a special type of hops called Citra — the plant that gives its popular Tropicalia ale its bitter flavour and fruity aroma — that it has been forced to reject orders for about 8000 barrels of beer during the past year. That is more than $US2 million ($2.6 mln) in revenue and enough beer to nearly double production.
The Athens, Georgia-based brewer isn’t alone. A host of smaller, regional brewers including Wicked Weed Brewing of Asheville, North Carolina, and MadTree Brewing of Cincinnati have run into similar constraints.
The shortages are contributing to the sudden slowdown in craft beer sales. During the first half of the year, independent brewers’ volumes grew about 8 per cent, ending six years of double-digit growth, according to the Brewers Association, which represents the industry.
The problem isn’t lack of hops production. Farmland devoted to the crop has increased 65 per cent during the past five years to about 51,000 acres (20,640ha) from 31,000 acres. About 70 per cent of that land is planted with high-demand varieties
...More info on site
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USA, VA: Three Notch’d Brewing Co. completes work on its brewery in Richmond
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A Charlottesville craft beer maker has completed work on its brewery and tasting room in Richmond’s Scott’s Addition neighborhood, with a grand opening event scheduled for October 1st, Richmond.com reported.
Three Notch’d Brewing Co. is operating its Richmond brewery and tasting room in a 4,000-square-foot leased space at 2930 W. Broad St., adjacent to the co-working space Gather.
The Scott’s Addition brewery is the third location for Three Notch’d Brewing.
It opened its first brewery in Charlottesville in 2013 and a second one in Harrisonburg the next year. After completing a recent capital raise from private investors, the company is planning to open two other locations in the state — in Northern Virginia and at an as-yet undisclosed site.
“We like the tasting-room concept, and having a couple of them across the state will let people really get to know the brand,” said Scott Roth, Three Notch’d Brewing’s president.
The Richmond brewery’s emphasis will be on collaborative beer, meaning it will make customized, small-batch beers for restaurants in the area, and it will work with local nonprofit organizations to make custom craft beers specifically for community events and philanthropic fundraisers.
“It is a great way to get engaged with the local community,” said George Kastendike, the
...More info on site
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USA, LA: Royal Brewery New Orleans may start brewing by the end of the year
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Raymond and Mandy Pumilia, owners and founders of Royal Brewery New Orleans, have been working to transform an industrial space in New Orleans East into the brewery they’ve dreamt about since serving friends home-brewed beer at their Royal Street home, bestofneworleans.com reported on September 27.
The brewery's tanks are in place and if all goes well, the Pumilias will start brewing by the end of the year.
Raymond's work in the film industry as an art director enabled him to claim materials to build coolers and other brewery equipment. His work as an insect photographer inspired the names of the beers he’s planning to brew: Termite Lager and Culicidae Pale Ale, made with a British yeast. He also plans to brew a porter, a cream ale, and possibly an IPL.
The inspiration for Raymond’s home brewing stems from 2012 and Bountygate, when New Orleans Saints coach Sean Payton was suspended by the NFL after the team was found to have offered incentives for players to injure opposing players. Pumilia boycotted Saints football that season and spent Sundays barbecuing and brewing beer on his back porch.
“Basically, he found another way to waste eight hours every Sunday,” Mandy says.
As he became more serious about
...More info on site
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USA, OR: Portland’s Wayfinder Beer to open its doors on October 1st
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Wayfinder Beer, Portland’s long-anticipated, lager-focused brewery and restaurant, is opening its doors on October 1st, 2016. Wayfinder is the brainchild of Charlie Devereux (Double Mountain Brewery & Taproom), Matthew Jacobson (Sizzle Pie, Quality Bar, Relapse Records), and Rodney Muirhead (Podnah’s Pit, La Taq), and sits in the heart of Portland’s dynamic Central Eastside neighborhood. A hybrid of a German-style beer hall and a Northwest brewery/restaurant, Wayfinder will quench beer-lovers’ desire for craft beer — especially great lagers — and delicious, made-from-scratch pub fare.
Located in a beautifully renovated 100+ year-old former grain warehouse, Wayfinder will feature 110 seats indoors and an epic raised deck with capacity for an extra 100+ patrons outside. The bar’s 16 taps will initially feature a mix of collaboration brews made with great local breweries (Baerlic, Breakside, Hopworks, 54° 40′, Widmer), along with some well-curated guest beers. A 10-barrel brewing system will come online soon, with award-winning lager specialist Kevin Davey (Chuckanut, Firestone Walker, Gordon Biersch) at the helm. Celebrated mixologist Jacob Grier brings finesse and style to Wayfinder’s cocktail program.
In the kitchen, Muirhead, Willamette Week’s 2011 Restaurant of the Year Winner for Podnah’s Pit, has designed a beer-friendly menu of fine American cuisine in his signature
...More info on site
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World: AB InBev’s takeover of SABMiller leaves its Japanese rivals far behind
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As the world's two largest brewers formally announced plans to merge, their Japanese rivals risk being left in their shadow, Nikkei Asian Review reported on September 29.
The proposed Oct. 10 deal between Belgium's Anheuser-Busch InBev and SABMiller of Britain was approved by shareholders of both companies. AB InBev will pay 79 billion pounds ($103 billion) to acquire SABMiller, creating a behemoth that will control nearly 30% of the global beer market.
The new company will also boast by far the highest profit margin in the industry and transform the competitive landscape.
In a September 28 shareholders meeting in Brussels, AB InBev CEO Carlos Brito stressed the benefits of the combination, saying it will be geographically complementary and create a foothold for the company in all the fast-growing markets.
Even if the new company has to sell its businesses in the U.S. and China to win the approval of antitrust regulators, it will still have a global share of around 27%. Its annual sales would amount to some $55 billion, 2.4 times larger than those of Heineken International, which will become the second-largest beer maker. The new company will not just be large but extremely profitable, with an expected operating profit margin of 30%,
...More info on site
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India: United Breweries posts 13-fold rise in Q1 net profit
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Shares of United Breweries (Holdings) surged 10 per cent on September 29 after its net profit rose over 13-fold for the first quarter ended
...More info on site
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Germany: Spring barley crop seen at 1.7-1.8 mln tonnes this year
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Spring barley crop estimates in Germany range from 1.7 to 1.8 mln tonnes, H. M. Gauger GmbH reported earlier in September.
The Malting barley
...More info on site
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UK: Spring barley yields are lower than last year but quality is good
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Two-row winter malting barley has become a small crop in the United Kingdom, H. M. Gauger GmbH reported on September 2.
The harvest result
...More info on site
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South Africa: SABMiller to exit JSE shift rankings on September 30
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September 30 marks the end of an era when SABMiller, which was first listed on the JSE in 1897, will be deleted from all JSE indices. It will be de-listed on October 3. These historic developments follow the decision by SABMiller shareholders to accept Anheuser-Busch InBev’s £45-a-share offer. At a SABMiller shareholders’ meeting on September 28, 95,5 percent of shareholders who were entitled to vote and did vote voted in favour of the offer. The decision will not only change the landscape of the South African beer industry, it is also expected to have a considerable effect on trading patterns on the JSE, The Herald reported.
SABMiller’s R1,3 trillion market capitalisation accounts for 8,6 percent of the JSE’s total and about 5,3 percent of the R24,3 billion in daily trading.
With SABMiller deleted from the FTSE/JSE top 40 index, where it had a weighting of 13 percent, Impala Platinum, which has a market cap of just R49,6 billion, will be able to scrape in with a weighting of just 0,75 percent. Impala Platinum’s inclusion in the index reflects its relatively high investability weighting of 82 percent.
Leanne Parsons, director of information services at the JSE, said the top 40 is ranked in terms
...More info on site
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India: AB InBev agrees to pay $6 mln to settle bribery case
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Anheuser-Busch InBev has agreed to pay $6 million to settle U.S. charges that it made improper payments to government officials in India to boost its beer business there and chilled a whistleblower who had reported misconduct, CFO reported on September 29.
After the merger that formed AB InBev in 2008, the company operated in India through a wholly-owned subsidiary, Crown Beers India Private Limited, and a joint venture, InBev India International Private Limited, that managed the marketing and distribution of Crown beer.
According to the U.S. Securities and Exchange Commission, IIIPL used third-party sales promoters to make improper payments to Indian government officials to obtain beer orders and increase Crown’s brewery hours.
Crown Beer, which reimbursed IIIPL for its expenses, allegedly had inadequate internal accounting controls to detect and prevent the payments and improperly recorded the transactions as legitimate expenses.
The SEC also accused AB InBev in an administrative order of violating the whistleblower protections of the Dodd-Frank Act by entered into a nondisclosure agreement with a former Crown employee containing language that prevented the employee from speaking to the commission.
“Threat of financial punishment for whistleblowing is unacceptable,” Jane Norberg, acting chief of the SEC’s Office of the Whistleblower, said in a news release.
...More info on site
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Ukraine: Ukraine increases barley exports
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According to official data, in August 2016 Ukrainian barley exports grew by 17% compared to August 2015 and equalled 1.924 mln tonnes against 1.02 mln tonnes, UkrAgroConsult reported.
During the first two months of 2016/17 (July-August) Ukrainian exporters shipped 2.204 mln tonnes of barley, which is absolute record for the period.
Traditionally in August Saudi Arabia lowered its purchases, importing 371 thousand tonnes against 523 thousand in the previous month. Libya continues to increase imports of Ukrainian barley, purchasing in July-August 377 thousand tonnes against 124 thousand over the same period of 2015/16 (over the whole 2015/15 - 446 thousand tonnes).
Moreover, all key importers purchased higher volumes of Ukrainian barley during the two months of 2016/17. Also Ukrainian exporters managed to increase shipments to the market of Tunisia, exporting 102 thousand tonnes (27.5 thousand over the same period of 2015/16 MY), as well as to ship higher volumes to Jordan, Morocco, UAE and Turkey.
Lower export activity is seen in the destination of China, which nevertheless remains among the top 3 buyers of Ukrainian barley.
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Kenya: New amendments to Kenya’s Finance Act allow East African Breweries to apply for excise tax remission for its Senator beer
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East African Breweries Limited (EABL) will have to apply to the Treasury for excise tax remission on its Senator beer following removal of the rebate through amendments in the Finance Act 2016, the Business Daily Africa reported on September 29.
The tax cut, which stood at 90 per cent, was eliminated after Section 68 A of the Alcoholic Drinks Control (Amendment) Act 2015 which provided for it was repealed.
A Treasury official told the Business Daily that the beer manufacturer now has to apply for the remission which can be granted under the Excise Duty Act 2015.
He added that the Alcoholic and Excise laws both gave the Finance minister powers to offer the tax cut, with the former having operationalised the provision.
Removal of the remission from the Alcoholic law is meant to correct an anomaly since it is not a tax law and the levy needed to be addressed under the excise law, he said. The Treasury will have the leeway to set any rate it wants in reinstating the remission.
Protection from paying the full excise tax of Sh100 per litre on beer is important for the commercial viability of Senator, which targets price-sensitive low-income earners.
If the remission is not reinstated, the
...More info on site
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