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E-Malt.com NewsLetter
Flash Summary

RombBullet Quote of the week
RombBullet Currency rates
RombBullet Brewers equities
RombBullet Market prices change trend
RombBullet Industry news
RombBullet Graph of the week
RombBullet Table of the week
RombBullet Barley prices
RombBullet Theoretical malt prices
RombBullet Scientific digest
RombBullet Business history
RombBullet Agenda
RombBullet News articles

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E-Malt.com Flash 01a
January 01 - January 03, 2018

Quote of the Week

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Currency Rates

Base Currency: Euro
on January 06, 2018
Base Currency: US Dollar
on January 06, 2018
      1 EUR = 1.2045 USD
1 EUR = 0.8888 GBP
1 EUR = 1.5068 CAD
1 EUR = 1.5361 AUD
1 EUR = 136.4500 JPY
1 EUR = 3.9057 BRL
1 EUR = 68.8668 RUB
1 EUR = 7.8151 CNY
      1 USD = 0.8300 EUR
1 USD = 0.7387 GBP
1 USD = 1.2520 CAD
1 USD = 1.2744 AUD
1 USD = 112.6900 JPY
1 USD = 3.2331 BRL
1 USD = 57.6002 RUB
1 USD = 6.4966 CNY

Currency Rates Chart

Equities of the Largest Breweries

Breweries Equities

Average Market Prices Change Trend

January 06, 2018
French Barley/Malt
Crop 2017
2RS Malting Barley (FOB Creil) 187.50-189.50 -
6RW Malting Barley (FOB Creil) 154.00-156.00 -
2RS Malt (FOB Antwerp) 386.50-388.50 -
6RW Malt (FOB Antwerp) 345.50-347.50 -
Feed Barley (FOB Creil) 145.00-147.00-
French Barley/Malt
Crop 2018
2RS Malting Barley (FOB Creil) 185.50-187.50 -
6RW Malting Barley (FOB Creil) 154.00-156.00 -
2RS Malt (FOB Antwerp) 381.00-383.00 -
6RW Malt (FOB Antwerp) 342.50-344.50 -
Feed Barley (FOB Creil) nq 
German Malting Barley
Crop 2017
Ex Farm
Average Malting Barley Price 191.50-193.50 -
Danish Malting Barley
Crop 2017
Free on truck
Ex Farm
Malting Barley (East) 1,284.00-1,286.00 -
Malting Barley (West) 1,284.00-1,286.00 -
Danish Malting Barley
Crop 2018
Free on truck
Ex Farm
Malting Barley (East) 1,214.00-1,216.00 -
Malting Barley (West) 1,214.00-1,216.00 -
Canadian Barley/Malt
Crop 2017
2-Row Malting Barley, bulk, truck/railcar, Winnipeg 330.00-332.00 -
2-Row Malting Barley, bulk in store, Vancouver 329.00-331.00 -
6-Row Malting Barley, bulk, truck/railcar, Winnipeg nq  
2-Row Malt, bulk, truck/railcar, Winnipeg nq  
2-Row Malt, bulk in store, Vancouver nq  
6-Row Malt, bulk, truck/railcar, Winnipeg nq  
Feed Barley, basis Lethbridge 219.00-221.00 -
Feed Barley, basis Winnipeg 219.00-221.00 -
Feed Barley, bulk in store, Vancouver 282.00-284.00 -
US Barley
Crop 2017
2-Row Malting Barley, bulk, railcar Great Falls, Montana 170.00-172.00 -
6-Row Malting Barley, bulk, railcar Minneapolis, Minnesota 218.00-220.00 -
Feed Barley, basis Great Falls, Montana 115.00-117.00 -
Feed Barley, basis Minneapolis, Minnesota 109.00-111.00 -
-No change; upPrice increase; downPrice decrease versus last publication.

Click here to see our Market Prices History.

Top Industry News

Brewery news USA: Constellation Brands Q3 revenue misses analysts’ estimates ...Click here
Brewery news Japan: Sapporo Holdings' operating profit likely down 10% yoy in 2017 ...Click here
Brewery news USA: AB InBev could be about to ramp up its craft beer activity - analyst ...Click here
Brewery news South Korea: Removal of restrictions on beer imports and craft brewing expected to reduce local beer market share ...Click here
Brewery news Australia: Leading brewers hit back at calls for ‘radical’ alcohol tax policy changes ...Click here

Barley news France: Malting barley crop very good in Beauce/Gatinais/Bassin Parisien this year ...Click here
Barley news World: World grain supplies still burdensome ...Click here
Barley news World: EU and world demand for feed barley surprises analysts ...Click here

More Industry News

Barley news USA: American Malting Barley Association updates list of recommended malting barley varieties ...Click here
Brewery news China: Tsingtao, China Resources Beer shares jump on inaccurate report of beer prices hike ...Click here
Brewery news Japan: Japan’s beer prices expected to rise this year ...Click here

Graph of the week

Source: Deutscher Maelzerbund e. V.

Table of the week

Italy Malt Production and Import 2010 - 2016

Table of the week.
Barley Prices

Theoretical Malt Prices

Scientific Digest


Sulfur components in hops have many different faces. Though we love them for bringing us flavors such as rhubarb, passion fruit, grapefruit and black currant flavours, they also surprise us with nasty flavours such as onion-like, garlic-like or just cheesy. By name, these are known as S-methyl-thioisobutyrate, S-methyl-thio-2-methylbutyrate, S-methyl-thioisovalerate, S-methylthio-4-methylpentanoate, and S-methyl-thiohexanoate. One parameter that significantly influences the formation of these compounds is the harvest time of the hops. This article shows how the concentration of the onion/garlic compounds increases during harvest time for varieties as Cascade, Mandarina Bavaria, Polaris, Hallertau Blanc and Hüll Melon. Although many studies have shown that a later harvest brings a more overall flavourful aroma profile for some varieties, e.g. Hallertau Mittelfrueh (and I put here my hypothesis that this includes many varieties that express intense fruitiness such as Citra, Mosaic, Cascade, etc.), the harvest date should be chosen carefully.


Kammhuber, K.: Influence of the Date of Harvest on the Sulphur Compounds of the Special Flavour Hop Varieties Cascade, Mandarina Bavaria, Hallertau Blanc, Huell Melon and Polaris.

Source: Barth Innovations

These Days in Business History

01 January
1785 - "Daily Universal Register" (Times of London) publishes 1st issue
1842 - 1st illustrated weekly magazine in US publishes 1st issue, New York City NY
1862 - 1st US income tax (3% of incomes > $600, 5% of incomes > $10,000)
1994 - The North American Free Trade Agreement comes into effect
1995 - The World Trade Organization goes into effect
2015 - The Eurasian Economic Union comes into effect, creating a political and economic union between Russia, Belarus, Armenia, Kazakhstan, and Kyrgyzstan

02 January
1882 - Because of anti-monopoly laws, Standard Oil is organized as a trust
1905 - Luther George Simjian, the inventor of the earliest known prototype of the automatic teller machine (ATM), is born in Ainteb, Turkey
1980 - With inflation raging, gold hits a record price of $850 per ounce
1986 - 191.66 million shares traded in New York Stock Exchange
2013 - Barack Obama signs the American Taxpayer Relief Act of 2012, intended to prevent the "fiscal cliff"

03 January
1911 - US postal savings bank inaugurated
1977 - Apple Computer Corp. is incorporated by Steve Jobs and Steve Wozniak
1980 - Gold hits record $634 an ounce
2015 - 1st electric watch introduced, Lancaster PA

04 January
1960 - European Free Trade Association forms in Stockholm
1962 - 1st automated (unmanned) subway train (New York City NY)
2001 - Total daily trading volume on the New York Stock Exchange exceeds 2 billion shares for the first time ever

05 January
1769 - Jean Baptiste Say, French economist is born
1828 - 1st edition of Amsterdam General Trade Journal (Algemeen Handelsblad)
1850 - California Exchange opens

06 January
1978 - 1st postage stamp copyrighted by US (Carl Sandburg stamp)
1994 - Dow-Jones hits record 3803.88

07 January
1714 - Typewriter patented by Englishman Henry Mill (built years later)
1782 - 1st US commercial bank, Bank of North America, opens in Philadelphia
1995 - Murray Newton Rothbard economist, dies of cardiac arrest at 69


January 2018:
26-28: Finest Spirits 2018 (Munich, Germany)

February 2018:
02-04: Brau Kunst Live 2018 (Munich, Germany)
09-12: HoReCa 2018 (Athens, Greece)
17-20: Beer Attraction 2018 (Rimini, Italy)
20-24: Great British Beer Festival Winter 2018 (Norwich, UK)
27-01 March: Beviale Moscow 2018 (Moscow, Russia)

March 2018:
05-07: 105th Brewing and Engineering Conference (Munich, Germany)
06-08: Expo Antad & Alimentaria Mexico 2018 (Mexico City, Mexico)
07-10: Festival Brasileiro de Cerveja 2018 (Blumenau, Brazil)
08-10: Alltech Craft Brews & Food Fair 2018 (Dublin, Ireland)
14-15: BeerX 2018 (Sheffield, UK)
19-22: IBD Asia Pacific Convention 2018 (Wellington, New Zealand)

April 2018:
08-12: International Malting and Brewing Symposium "13th Trends in Brewing" (Ghent, Belgium)
13-14: Helsinki Beer Festival 2018 (Helsinki, Finland)
28-29: Zythos Beer Festival 2018 (Leuven, Belgium)
30-03 May: Craft Brewers Conference & BrewExpo America 2018 (Nashville, USA)

May 2018:
22-24: Beer 2018 (Sochi, Russia)

June 2018:
06-09: Mondial de la Biere 2018 (Montreal, Canada)
29-01 July: Mondial de la Biere 2018 (Paris, France)

August 2018:
03-05: The 22nd International Berlin Beer Festival (Berlin, Germany)
08-11: Vietfood & Beverage 2018 (Ho Chi Minh City, Vietnam)
10-11: Beervana 2018 (Wellington, New Zealand)
12-15: Brewing Summit 2018 (San Diego, USA)

September 2018:
04-06: food & drink technology Africa (fdt Africa) (Johannesburg, South Africa)
12-14: 6th International Symposium for Young Scientists and Technologists in Malting, Brewing and Distilling (Bittburg/Trier, Germany)

October 2018:
23-26: China Brew China Beverage 2018 (Shanghai, China)
24-26: drink technology India 2018 (Mumbai, India)

November 2018:
13-15: Brau Beviale 2018 (Nuremberg, Germany)

More events are available on site e-malt.com

BreweryBrewery News Brewery

Brewery news USA: Constellation Brands Q3 revenue misses analysts’ estimates
Constellation Brands Inc missed Wall Street estimates for third quarter revenue on January 5 and said wine and spirit sales for the full-year would be at the low end of a previous forecast, sending its shares down as much as 4 percent, Reuters reported.

Its stock recouped some of the losses later in the day after Chief Executive Robert Sands said the company was seeing no real impact on alcohol sales from the legalization of cannabis for recreational use in six U.S. states.

The comments come two months after Constellation said it took a nearly 10 percent stake in Canada’s biggest cannabis producer Canopy Growth Corp, becoming the first major beer and spirits company to invest in legal cannabis.

“We really can’t see any impact in terms of how it’s (cannabis) affecting beverage alcohol in general and even in the 6 states, including California,” Sands said on a conference call with analysts.

He also said it was too early to tell whether Constellation’s investment in the Canadian company would be “cannibalistic or complementary”.

“There’s just not enough information I think to really say how that’s going to affect beverage alcohol in general going forward,” Sands said.

Constellation said that the recent U.S. tax overhaul would reduce ...More info on site

Brewery newsJapan: Sapporo Holdings' operating profit likely down 10% yoy in 2017
Sapporo Holdings' operating profit probably slid about 10% year-on-year for the 12 months through December, but its net profit likely set a new record ...More info on site

Brewery news USA: AB InBev could be about to ramp up its craft beer activity - analyst
Anheuser-Busch InBev could be about to ramp up its craft beer activity after recent industry figures show its current craft breweries lagging the US market, an analyst has forecast.

Citing IRI data, SIG's Pablo Zuanic wrote this week that AB InBev's US craft beer volumes in the eight weeks to 17 December grew by just over 2%, below the estimated mid-single-digit growth for overall US craft beer. Zuanic said this was a poor performance, especially for a company that is under-represented in the craft area - about 2% of AB InBev's portfolio, compared to 12% for the US industry.

To help boost growth, Zuanic believes AB InBev "will likely need to ramp up its craft strategy". The analyst said this could include picking up its buy option on Craft Brew Alliance, in which AB InBev already owns a minority stake. As part of an agreement signed last year, AB InBev has the option to take full control of CBA in a clause that expires in August 2019.

AB InBev has bought ten US craft brewers so far, starting with Chicago's Goose Island in 2011 and ending in May with North Carolina's Wicked Weed. Goose Island has more than quadrupled volumes since its takeover, ...More info on site

Brewery newsSouth Korea: Removal of restrictions on beer imports and craft brewing expected to reduce local beer market share
The New Year will be tough for large domestic breweries because of the removal of restrictions on beer importers and craft beer brewers, the ...More info on site

Brewery news Australia: Leading brewers hit back at calls for ‘radical’ alcohol tax policy changes
Australia’s beer barons have hit back at calls for a “radical” policy shift that would hike the tax on draught beer by up to 500 per cent and reduce Australia’s alcohol consumption, the Illawarra Mercury reported on January 4.

The Foundation for Alcohol Research and Education (FARE) wants draught beer to be taxed at the same rate as bottles and cans, rather than the discounted tax rate it now enjoys. FARE says this would raise an extra A$2.9 billion while cutting alcohol consumption by more than nine per cent.

But the brewing lobby has blasted the plan as “lazy and flawed”.

Brewers Association of Australia (BAA) CEO Brett Heffernan said tax was already the “single most expensive ingredient in beer”.

“Firstly, when it comes to cheap alcohol products, beer is not one of them,” he said.

“Secondly, price is not a pressure point for those who misuse alcohol. It’s lazy and flawed policy ... it penalises the vast majority who drink responsibly while doing nothing for those few at risk of harm.”

He claimed Australians already pay heavy tax on beer.

“Any Aussie venturing overseas who has slicked their thirst with a cleansing ale knows we pay a premium for beer in Australia.”

BAA represents brewing giants Carlton ...More info on site

Brewery news China: Tsingtao, China Resources Beer shares jump on inaccurate report of beer prices hike
Shares in Tsingtao, China’s best-known brewer internationally, jumped on January 5 following a report that it would raise prices as much as 20 per cent, even though the company dismissed it as inaccurate, the Financial Times reported.

The share price rose to 23 per cent in Hong Kong on January 5 before paring gains and closing 11 per cent higher, adding $814 mln to the company’s market capitalisation.

The surge followed a report by Beijing News that Tsingtao and other breweries had raised prices on some products by 10 to 20 per cent due to higher raw material and labour costs.

Hong Kong-listed China Resources Beer, the parent company of China Resources Snow Breweries which is China’s largest brewer by volume, rose as much as 11.8 per cent to a record high following the report.

However, Tsingtao said in a statement to the Hong Kong exchange after market close that media reports of substantial price increases were “inaccurate”. The company added that prices of some of its products would rise due to an increase in packaging costs, but not by more than 5 per cent on average.

Chinese beer companies generally specialise in cheaper brews, which they sell in large volumes. This model has come ...More info on site

Brewery news Japan: Japan’s beer prices expected to rise this year
Higher distribution costs and a labour shortage coupled with rising raw materials are going to push up beer prices in Japan this year, The Drinks Business reported on January 5.

According to a report by NHK, Japan’s national public broadcasting organisation, four beer makers – Asahi, Kirin, Suntory and Sapporo – will raise beer prices in bottles and kegs this February. Wholesale prices of bottled beer are expected to rise by about 10%, it added.

It is unclear at present how much prices will go up for beer in kegs.

Japan is a major beer consumption country, ranked as the 6th biggest in the world in 2016. Last year, the country relaxed its regulation on ingredients allowed in beer production to allow fruits, spices and other ingredients.

In addition to beer, prices for rice and wheat are set to be hiked up as well, with three major milling companies raising wheat prices by 1 to 4%, starting from this week.

Consumers will also have to spend more on pre-cooked rice this year. The country’s packaged food company TableMark will raise its prices by as much as 17% in February.

BarleyBarley News Barley

Barley newsFrance: Malting barley crop very good in Beauce/Gatinais/Bassin Parisien this year
Beauce/Gatinais/Bassin Parisien produced a very good crop of malting barley, with proteins below 11% this year, H. M. Gauger GmbH reported early in December. ...More info on site

Barley news World: World grain supplies still burdensome
In spite of a small stock reduction world grain supplies are still burdensome, H. M. Gauger GmbH said in their latest report published early in December.

There are always some weather irregularities, but at this time the crops of 2018 look promising, the analysts said.

Markets reacted strongly to performance of the large new producers: after a record crop of 83 mln tonnes Russia will be the No. 1 wheat exporter of the world with 33 mln tonnes vs. 27 mln of the U.S. and 26 mln of the EU.

The US. remains the No. 1 in corn sales of 48 mln tonnes, however, Brazil with 35 mln and Argentina with 29 mln tonnes are gaining large shares of the world market.

Brazil is expected to ship 65 mln tonnes of soybeans, surpassing the US. by 3.0 mln tonnes. In Eastern Europe and South America, further production increases are forecast, on additional land and by higher yields.

Barley news USA: American Malting Barley Association updates list of recommended malting barley varieties
The list of recommended malting barley varieties for the 2018 crop year has been updated by the American Malting Barley Association.

The American Malting Barley Association is a nonprofit trade association of brewing, distilling and malting companies that are end users of malting barley. The list is meant to inform U.S. producers which malting barley varieties the industry intends to use in the upcoming year. Not all varieties are used in large quantities and it is important that producers contact their local elevator, grain handler or processor to determine the market demand for a variety prior to seeding.

Two varieties from the 2017 list have been dropped and three varieties have been added for 2018. CDC Meredith and Stellar-ND are no longer recommended varieties. Additions include the three spring, two-row varieties: Explorer, Newdale, and Propino.

Explorer was developed by the French company, Secobra Recherches, and has been grown in Europe, Asia and South America. It has been grown successfully in the west and upper Midwest.

Dr. William Legg, Agriculture and Agri-Food Canada, bred Newdale which received full registration for Canada in 2001. In the U.S., Newdale is primarily being grown in Maine.

Propino was developed by Syngenta and has been recommended ...More info on site

Barley news World: EU and world demand for feed barley surprises analysts
EU domestic feed barley markets have been marked by farmers’ retention, a surprisingly large demand, particularly in the central feed industry region of South Holland/South Oldenburg, H. M. Gauger GmbH said in their December report.

Feed barley exports started badly, but have picked up recently following firmer price levels and a slowdown of exports from the Black Sea. French barley is the most competitive origin at present.

World demand is quite impressive. Algeria, Tunisia, Jordan and Saudi Arabia purchased 1.2 mln tonnes in November.

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