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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 Prices evolution
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 13a
March 26 - March 28, 2018

Quote of the Week

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Currency Rates

Base Currency: Euro
on March 28, 2018
Base Currency: US Dollar
on March 28, 2018
      1 EUR = 1.2376 USD
1 EUR = 0.8794 GBP
1 EUR = 1.5949 CAD
1 EUR = 1.6070 AUD
1 EUR = 131.0400 JPY
1 EUR = 4.1051 BRL
1 EUR = 71.2625 RUB
1 EUR = 7.7730 CNY
      1 USD = 0.8050 EUR
1 USD = 0.7055 GBP
1 USD = 1.2859 CAD
1 USD = 1.2963 AUD
1 USD = 105.6000 JPY
1 USD = 3.3179 BRL
1 USD = 57.1747 RUB
1 USD = 6.2727 CNY

Currency Rates Chart

Equities of the Largest Breweries

Breweries Equities

Average Market Prices Change Trend

March 28, 2018
French Barley/Malt
Crop 2017
2RS Malting Barley (FOB Creil) 177.50-179.50 down0.56%
6RW Malting Barley (FOB Creil) 162.00-164.00 -
2RS Malt (FOB Antwerp) 375.50-377.50 down0.33%
6RW Malt (FOB Antwerp) 356.50-358.50 -
Feed Barley (FOB Creil) 161.00-163.00up0.62%
French Barley/Malt
Crop 2018
2RS Malting Barley (FOB Creil) 189.50-191.50 up0.53%
6RW Malting Barley (FOB Creil) 166.00-168.00 up0.60%
2RS Malt (FOB Antwerp) 386.00-388.00 up0.32%
6RW Malt (FOB Antwerp) 357.50-359.50 up0.34%
Feed Barley (FOB Creil) nq 
German Malting Barley
Crop 2017
Ex Farm
Average Malting Barley Price nq  
Danish Malting Barley
Crop 2017
Free on truck
Ex Farm
Malting Barley (East) 1,194.00-1,196.00 up0.84%
Malting Barley (West) 1,194.00-1,196.00 up0.84%
Danish Malting Barley
Crop 2018
Free on truck
Ex Farm
Malting Barley (East) 1,234.00-1,236.00 up0.82%
Malting Barley (West) 1,234.00-1,236.00 up0.82%
Canadian Barley/Malt
Crop 2017
2-Row Malting Barley, bulk, truck/railcar, Winnipeg 310.00-312.00 -
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 241.00-243.00 up0.83%
Feed Barley, basis Winnipeg 241.00-243.00 up0.83%
Feed Barley, bulk in store, Vancouver 304.00-306.00 up0.66%
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 nq  
Feed Barley, basis Great Falls, Montana 115.00-117.00 -
Feed Barley, basis Minneapolis, Minnesota 129.00-131.00 -
-No change; upPrice increase; downPrice decrease versus last publication.

Click here to see our Market Prices History.

Top Industry News

Brewery news China: Tsingtao posts fastest annual profit growth since 2010 ...Click here
Brewery news USA: Craft beer sector sees 5% rise in volume in 2017 ...Click here
Brewery news Vietnam: Collecting tax arrears from Sabeco may create bad precedent for next divestments by Vietnamese government ...Click here
Brewery news Ukraine: Beer market finally stops falling – Carlsberg Ukraine ...Click here
Brewery news USA: Constellation Brands named biggest winner on top 50 US breweries list ...Click here

More Industry News

Barley news Ukraine: Analysts cut forecast for Ukraine’s 2018/19 barley harvest ...Click here
Brewery news India: India’s popular craft brewer B9 Beverages aiming to go public in the next three to five years ...Click here
Hops news Canada: Federation of Agriculture notes increase in hop cultivation in Canada ...Click here
Brewery news UK: Carlsberg toasts success of its Export premium lager ...Click here
Brewery news Ireland: Heineken betting big on new non-alcoholic lager in Ireland ...Click here
Brewery news Jamaica: Red Stripe Jamaica weighing plans to brew non-alcohol version of Heineken ...Click here

Graph of the week

Source: Deutscher Maelzerbund e. V.

Table of the week

World Malt Exports by Country and by Value

Table of the week.
Prices Evolution

Prices evolution

Barley Prices

Theoretical Malt Prices

Scientific Digest


We already know about hop flavonoids and their bitter taste, but there are other bitter compounds in hops we know and don't know. These researchers call these others "auxiliary bitter compounds", comprising the bitter compounds that do not include the iso-alpha acids. In a sensory context those components can influence the bitter quality. To assess the bittering effect of these compounds one can work with the ratio between the Bitter Units and the HPLC measured concentration of iso-alpha acids. This ratio of course increases with hop varieties with low alpha content e.g. land-race varieties. In addition to the above mentioned flavonoids, additional compounds present in hops are formed from alpha-acids (humulinones, deoxyhumulones), as well as those formed from beta-acids during wort boiling (hulupones, hulupinic acid and hydroxyltricyclolupulones). Various studies have shown that the sensory evaluated bitterness quality correlates positively with higher IBU/iso-alpha acids ratios. So it is about time to leave behind the old categorization into bitter and aroma varieties, since yes, aroma varieties also give great (or even greater?) bitterness!


Forster, A. et al: What are Auxiliary Bitter Compounds in Hops and how do they Affect the Quality of Bitterness in Beer? November / December 2017 (Vol. 70)
Read more

Source: Barth Innovations

These Days in Business History

26 March
1780 - The British Gazette and Sunday Monitor was published for the first time. It was the first Sunday newspaper in Britain
1885 - Eastman Kodak (Eastman Dry Plate and Film Co.) produced the first commercial motion picture film in Rochster, NY
1996 - The International Monetary Fund approved a $10.2 billion loan for Russia to help the country transform its economy

27 March
1855 - Abraham Gesner patents kerosene
1999 - The macro virus "Melissa" was reported for the first

28 March
1797 - Nathaniel Briggs of NH patents a washing machine
1841 - 1st U.S. steam fire engine tested, New York City
1866 - 1st ambulance goes into service


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)
16-18: Barcelona Beer Festival 2018 (Barcelona, Spain)
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:
16-18: Craft Beer China 2018 (Shanghai, China)
22-24: Beer 2018 (Sochi, Russia)
23-27: Latvia Beer Fest 2016 (Riga, Latvia)
31-02 June: Copenhagen Beer Festival 2018 (Copenhagen, Denmark)

June 2018:
06-09: Mondial de la Biere 2018 (Montreal, Canada)
07-08: The Brewers of Europe Forum 2018 (Brussels, Belgium)

10-13: ASBC Malt Flavor and Aroma Symposium 2018 (Roseville, MN, USA)
20-22: Sea Brew 2018 (Manila, Philippines)
29-01 July: Mondial de la Biere 2018 (Paris, France)

August 2018:
03-05: The 22nd International Berlin Beer Festival (Berlin, Germany)
07-11: The Great British Beer Festival 2018 (London, UK)
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)
20-22: The Great American Beer Festival 2018 (Denver, USA)
22-07 October: Oktoberfest 2018 (Munich, 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 newsChina: Tsingtao posts fastest annual profit growth since 2010
China’s Tsingtao Brewery Co Ltd, the country’s second largest brewer, posted a 21 percent jump in annual profit on March 27, short of forecasts ...More info on site

Brewery news USA: Craft beer sector sees 5% rise in volume in 2017
The US Brewers Association (BA) — the trade association representing small and independent1 American craft brewers — released on March 27 the 2017 data on U.S. craft brewing growth. With over 6,300 breweries operating during the year, small and independent craft brewers represent 12.7 percent market share by volume of the overall beer industry. In 2017, craft brewers produced 25.4 million barrels, and saw a 5 percent rise in volume on a comparable base and an 8 percent increase in retail dollar value. Retail dollar value was estimated at 26.0 billion, representing 23.4 percent market share. Microbreweries and brewpubs delivered 76 percent of the craft brewer growth. Craft brewing’s growth occurred in the context of a total beer market which dropped 1 percent by volume in 2017. “Growth for the craft brewing industry is adapting to the new realities of a mature market landscape,” said Bart Watson, chief economist, Brewers Association. “Beer lovers are trending toward supporting their local small and independent community craft breweries. At the same time, as distribution channels experience increased competition and challenges, craft brewer performance was more mixed than in recent years, with those relying on the broadest distribution facing the most pressure.” Additionally, ...More info on site

Brewery news Vietnam: Collecting tax arrears from Sabeco may create bad precedent for next divestments by Vietnamese government
Vietnam’s authorities’ collecting VND2.5 trillion ($109.8 million) in tax arrears from Saigon Beer, Alcohol and Beverage Corporation (Sabeco) made foreign investors concerned about taking part in later divestments of state-owned firms, VietNamNet Bridge reported on March 23.

Recently, the State Audit Office of Vietnam proposed collecting VND2.5 trillion ($109.8 million) in tax arrears from Sabeco. The lion’s share of this is undeclared profit of VND2.8 trillion ($123.01 million) from 2016.

Besides, the state audit asked Sabeco to explain its losses from investing in banking, stocks, as well as pouring money into financial investment funds.

Responding to this incident, a director of a foreign investment fund said, “We are a small shareholder in Sabeco, thus we are waiting for ThaiBev’s opinion, who hold 53 per cent stake in the corporation. We believe that ThaiBev will have a proposal to the government so that the incident can be handled fairly.”

The director wondered that if the VND2.5 trillion ($109.8 million) had not been included in Sabeco’s assets, investors might not have paid as high a price at the auction as the corporation's charter capital would have been significantly lower.

Furthermore, when the government issued divestment plans from Sabeco, they committed not to conduct tax arrears in Sabeco, ...More info on site

Brewery news USA: Constellation Brands named biggest winner on top 50 US breweries list
Anheuser-Busch InBev and MillerCoors are still the two biggest breweries in the U.S. The craft beer industry trade group, the Brewers Association, released its annual list of the top-50 U.S. brewers based on beer sales volume, and to no one's surprise the mega brewers remained atop the heap in 2017, the Fox Business reported on March 24.

Anheuser-Busch produced 113.5 hectolitres of beer in North America last year, or almost 97 million barrels, equivalent to about 3 billion gallons. Despite that being down 3.3% from 2016, it's still appreciably more than the 67.7 million hectolitres MillerCoors parent Molson Coors reported it produced in the U.S.

Anheuser-Busch owned 43% of the U.S. beer market, while Molson Coors owned 25%. The remainder was owned by other companies.

It's in that "other companies" category that the real surprise comes with the Brewers Association tally, and below the Fox analysts highlight the winners and losers in the annual makeup of the top U.S. brewers.

The biggest winner is Constellation Brands, which appeared on the list for the first time in the No. 3 position, behind MillerCoors. Having acquired the U.S. rights to the Mexican Modelo brand and its Corona beer label, it has ridden rising sales and saw ...More info on site

Brewery newsUkraine: Beer market finally stops falling – Carlsberg Ukraine
The Ukrainian beer market has stopped falling and stabilized for the first time in nine years, Carlsberg Ukraine Director General Yevhen Shevchenko was quoted ...More info on site

Brewery news India: India’s popular craft brewer B9 Beverages aiming to go public in the next three to five years
The maker of Bira 91, a popular Indian craft beer with bottles sporting sketches of a quirky monkey with a punk hairdo, is aiming to list itself in the next three to five years, its chief executive told Reuters.

B9 Beverages, founded and led by New Delhi-based entrepreneur Ankur Jain, has quietly snagged market share through word-of-mouth recommendations in a country where marketing of alcohol is heavily regulated.

Jain puts it down to the fact that the taste of beer matters to Indian consumers now much more than before. “Younger consumers have a different perception about alcohol,” he said.

Craft beer sales are on the rise in India as younger, affluent consumers in big cities choose brands and pubs that make lighter brews and promise fresher ingredients.

The company expects its India business to break even in fiscal 2019 and revenue to more than double to about 4 billion Indian rupees ($61.5 million).

Set up in 2015, B9 initially manufactured Bira 91 - the name references India’s international phone code - in Belgium but supply chain snafus and high costs made it difficult to compete against market leaders Kingfisher, AB InBev India and Carlsberg.

The supply issues were resolved, Jain said, after he started production in ...More info on site

Brewery news UK: Carlsberg toasts success of its Export premium lager
A year on from the launch Carlsberg UK says its Export premium lager is up +9% in retail sales and +49% up (in retail value) in its platinum and gold outlets, the Drinks International reported on March 27.

To lock into the move to so-called craft beers principally by Millennials, Carlsberg launched 1883, using a yeast strain from Jacobsen’s original brew and will introduce an unpasteurised variant in June.

VP marketing Liam Newton told a group of invited journalists in London on March 26 that they were in the process of “revitalising Carlsberg”.

As well as the main lager brand, Carlsberg UK also looks after the American craft beer brand, Brooklyn, Mahou-San Miguel, Italian beer Angelo Poretti, traditional Yorkshire bitter, Tetleys, Czech gluten-free beer, Celia and London Fields, which it bought in conjunction with Brooklyn.

Carlsberg’s sponsor of the England football team ends after the forthcoming FIFA World Cup but it remains in football through associations with eight Premier League club.

Newton said that while they acknowledge there will always be that association between football and beer, the brewer is switching its focus to music festivals which it can readily leverage.

VP national sales, Alistair Gaunt, said the company was switching emphasis from volume to value ...More info on site

Brewery news Ireland: Heineken betting big on new non-alcoholic lager in Ireland
Heineken is hoping the trend towards lower alcohol consumption is more than just a passing fad by betting big on a new non-alcoholic lager in Ireland, the Irish Times reported on March 28.

The world’s second largest beer-maker is looking to cash in on a surge in sales of alcohol-free drinks globally, with Heineken 0.0, a bottled lager that has been double-brewed so that when the booze is removed the taste remains.

Details of the lager were first announced last May when it was unveiled at an event in Barcelona. It has since gone on sale in a number of markets, with the drinks giant planning on making it available across Europe.

According to the research group Canadean, the European non-alcoholic beer market grew roughly 5 per cent each year from 2010 to 2015.

Heineken is just one of a number of brewers looking to meet consumer demand for low and no-alcoholic drinks.

Rival AB InBev, which makes more than a quarter of the world’s beer and has about 400 brands including Budweiser and Stella Artois, has previously said it is aiming to make a fifth of its beer either low or zero alcohol by 2025. This is up from less than 10 per cent ...More info on site

Brewery news Jamaica: Red Stripe Jamaica weighing plans to brew non-alcohol version of Heineken
Jamaica’s Desnoes & Geddes Limited, which trades as Red Stripe Jamaica, is weighing plans to brew a non-alcohol version of Heineken in this market, the Jamaica Gleaner reported on March 28.

Heineken 0.0 would be targeted at trendsetters from both genders, within the 25-34 age range, the brewery told the Financial Gleaner on March 26, assuming positive results from its feasibility review.

The non-alcoholic beer segment reportedly continues to grow at a time when core beer markets are estimated to have shrank globally between 2010 and 2015, according to a study by research group Canadean.

Jamaica, however, does not fit into that trend, said Red Stripe, when quizzed on the report. But there are also few, if any, non-alcoholic beers distributed on a consistent basis in Jamaica.

"We are definitely considering Heineken 0.0 as a line extension. Feasibility will be conducted," said the Kingston-based brewery, which makes Heineken under licence. Red Stripe is also owned by Heineken International.

The brewery said it would determine the launch date for the product after getting the okay from its quality department.

Heineken 0.0 is at the core of Heineken International's campaign that 'when you drive, never drink', and would also align with Red Stripe Drink Responsibly campaign.

The Heineken group ...More info on site

BarleyBarley News Barley

Barley news Ukraine: Analysts cut forecast for Ukraine’s 2018/19 barley harvest
Analyst UkrAgroConsult on March 27 cut its forecast for Ukraine’s 2018/19 barley harvest and exports citing a smaller sowing area caused by late spring.

At the same time, the consultancy raised its outlook for Ukraine’s maize harvest and exports.

Ukraine is likely to harvest 25.7 million tonnes of maize and 8.2 million tonnes of barley this year, while exports would total 20 million and 4.6 million tonnes, respectively, UkrAgroConsult said.

HopsHops News Hops

Hops news Canada: Federation of Agriculture notes increase in hop cultivation in Canada
Ron Bonnett, president of the Canadian Federation of Agriculture, notes the increase in hops cultivation, a prominent ingredient in beer production, as a response to the higher demand for craft beer and an interest in microbreweries, the Financial Post reported on March 26.

From 2011 to 2016 hops cultivation grew to 789 acres from 97.

“It’s a combination of what’s happening as a consumer trend and the farmers’ response,” Bonnett said.

He said often times retailers may push certain foods and farmers are happy to provide that crop if there is profit to be made.

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