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E-Malt.com Newsletter 18b
May 01 - May 04, 2014
Quote of the Week
"Good beer is your right!"
Chris Farley
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Currency Rates
Base Currency: US Dollar
on May 02, 2014 |
Base Currency: Canadian Dollar
on May 02, 2014 |
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1 USD = 0.7209 EUR
1 USD = 0.5922 GBP
1 USD = 1.0971 CAD
1 USD = 1.0774 AUD
1 USD = 102.2640 JPY
1 USD = 2.2387 BRL
1 USD = 35.6480 RUB
1 USD = 6.1640 CNY
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1 CAD = 0.9117 USD
1 CAD = 0.5399 GBP
1 CAD = 0.6572 EUR
1 CAD = 0.9822 AUD
1 CAD = 93.2288 JPY
1 CAD = 2.0409 BRL
1 CAD = 32.4986 RUB
1 CAD = 5.6194 CNY
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Currency Rates Chart
Equities of the Largest Breweries
USA: Boston Beer Co. sees 35% rise in net revenue for Q1 2014
...Click here
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Canada, AB: Tool Shed Brewing finally signs lease for own brewing facility
...Click here
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USA, OH: Earlybird Brewing to open early autumn at the latest in Cleveland
...Click here
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USA, NC: Foothills Brewing Co. forced to expand for the second time in a year
...Click here
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Canada, BC: White Rock Beach Beer Company opened in White Rock, BC
...Click here
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Japan & USA: Suntory Holdings completes nearly $16 bln buyout of Beam Inc.
...Click here
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USA, WA: Drop Anchor Brewery grand opening scheduled on May 3
...Click here
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Canada, ON: William Street Beer Co. launches quietly in Cobourg, Ontario
...Click here
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USA, FL: Darwin Brewing Co. set to open in Bradenton later in May
...Click here
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Canada, ON: Smithworks Brewing to be launched in Peterborough some time in May
...Click here
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Canada, BC: Strange Fellows Brewing joining East Vancouver’s craft beer scene soon
...Click here
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Germany: Demand from abroad boosts German beer sales in the first quarter of this year
...Click here
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Japan: Asahi Group beer sales register 11.3% increase in January - March
...Click here
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Japan: Kirin Holdings reports January-March financial results
...Click here
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Brazil: Beer output increases in January-April 2014
...Click here
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Brazil: Grupo Petrópolis to build a malting plant and a brewery in Paraná
...Click here
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Germany: Barley and malt exports increase in July-February
...Click here
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UK: Barley market could look noticeably different in 2014/15
...Click here
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UK: Around 95% of planned spring barley crop now drilled
...Click here
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Belgium: Institutional Shareholder Services Inc. criticizes AB InBev’s executive compensation plan and board composition
...Click here
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Brazil: Beer taxes will be raised before the World Cup soccer tournament
...Click here
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Zimbabwe: Thirst for beer now has to be quenched by cheaper alternatives
...Click here
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Ireland: Guinness St James's Gate brewery may suffer from construction of new underground DART
...Click here
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Graph of the Week
Table of the Week
EU Barley Supply and Distribution
Prices Evolution
Barley Prices
Canadian Malting and Feed Barley Prices
US Malting and Feed Barley Prices
French Malting and Feed Barley Prices
Theoretical Malt Prices
Canadian Malt Prices
US Malt Prices
Theoretical EU Malt Prices
These Days in Business History
May 01
1876 The Amsterdam Stock Exchange Association (Vereniging voor de Effectenhandel) is created by 465 Dutch brokers; from now on, only members of the association are allowed to trade on the exchange
1878 The Tokyo Stock Exchange Co., Ltd., is established, primarily to trade bonds
1972 Economist Milton Friedman rings the opening bell at the Chicago Mercantile Exchange to inaugurate the world�s first day of trading in foreign-currency futures
May 02
1896 The Dow Jones Industrial Average is first published
1913 William R. Hewlett, co-founder of Hewlett-Packard Co., is born in Ann Arbor, Mich.
1985 Quantum Computer Services is incorporated in Delaware. In 1991 it changes its name to America Online, Inc.
May 03
1830 1st regular steam train passenger service starts
1919 America's 1st passenger flight (New York - Atlantic City)
1965 1st use of satellite TV, Early Bird Satellite
May 04
1626 Indians sell Manhattan Island for $24 in cloth and buttons
1878 Phonograph shown for 1st time at Grand Opera House
1979 The first modern leveraged buyout using high-yield junk bonds - a
$381 million deal to take Houdaille Industries private - is completed by Kohlberg, Kravis, Roberts & Co.
Agenda
May 2014:
21-24: Pivo (Beer) 2014 (Sochi, Russia)
21-24: South Beer Cup 2014 (Belo Horizonte, Brazil)
22-24: Copenhagen Beer Festival 2014 (Copenhagen, Denmark)
23-25: Latviabeerfest 2014 (Riga, Latvia)
June 2014:
11-15: Mondial de la Biere 2014 (Montreal, Canada)
August 2014:
12-16: Great British Beer Festival 2014 (London, UK)
September 2014:
08-11: Worldwide Distilled Spirits Conference 2014 - IBD Scottish Section (Glasgow, UK)
25-27: Drink Technology India 2014 (Mumbai, India)
October 2014:
13-16: China Brew and Beverage 2014 (Beijing, China)
November 2014:
11-13: Brau Beviale 2014 (Nuremberg, Germany)
12-14: Vietbrew 2014 (Ho Chi Minh City, Vietnam)
More events are available on site www.e-malt.com
News Articles
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USA: Boston Beer Co. sees 35% rise in net revenue for Q1 2014
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Boston Beer Co. Inc. reported on April 30 first-quarter 2014 earnings per share of 62 cents that came below the Zacks Consensus Estimate of 71 cents. However, the company’s quarterly earnings reflected a substantial improvement from the year-ago quarter earnings of 11 cents per share.
Results for the quarter benefited from an increase in shipments, offset by higher advertising, promotional and selling expenses and the inclusion of 6 cents per share gain from federal income tax settlement that was recorded in the prior-year quarter.
Net revenue for the quarter rose 35% year over year to $183.8 million and came ahead of the Zacks Consensus Estimate of $171.0 million, primarily attributable to an increase of 32% in core shipment volume. Price increases during the quarter were approximately 2%.
Moreover, depletions improved by a solid 34% in the quarter gaining from strong depletions rate for the company’s Samuel Adams, Angry Orchard and Twisted Tea brands.
During the quarter, the strength in the Samuel Adams brand was due to the celebrations for Boston Beer’s 30th Anniversary, the rollout of Rebel IPA and strong sales of its Seasonal beers. Overall, the company’s brands gained from strong brand support, that came from increased media spend, expansion of sales force
...More info on site
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Canada, AB: Tool Shed Brewing finally signs lease for own brewing facility
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The Calgary Herald reports that after almost a year of having its beers brewed under contract at Dead Frog Brewery in B.C., Tool Shed Brewing has signed a lease on an industrial space in Calgary for its own brewing facility.
Owners Graham Sherman and Jeff Orr said changes to the minimum production requirements for beers in Alberta that were implemented in December allowed them to scale down their original vision for the brewery, which in turn sped up plans to open their own location.
Tool Shed has commissioned DME Brewing Solutions in PEI to build a 25 hectolitre brewing system, which is expected to be installed at the industrial unit at 801 30th St. N.E. in Calgary within a few weeks.
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USA, OH: Earlybird Brewing to open early autumn at the latest in Cleveland
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Add Earlybird Brewing to the long and growing list of Cleveland breweries. About a year in the planning, the small brewery is on schedule to open late summer or early autumn near the border of Ohio City and Stockyards neighborhoods, Scene reported on May 1.
Owner Pedro Sarsama says that had the legislation not recently changed, which dramatically lowered the financial threshold of opening a brewery, he likely never would have gotten this far.
"It would have been too cost prohibitive to open a nano brewery like mine," he says. "I would not have considered it had the legislation not been eased up."
As he stated, his plan is to start small — very small, with just a 1.5 barrel system, which is being fabricated by Rust Belt Welding.
"My goal is to be a small brewery that essentially serves the neighborhood," he notes. "I'm not interested in attracting people from all over the region."
Fittingly, Earlybird is going into the former home of the Spang Baking Co. (2701 Barber Ave.), a local bread company.
"Baking bread is actually what got me into brewing beer," Sarsama says. "I come from a family of bakers."
Sarsama says that drinkers can look forward to English-style ales, brewed and
...More info on site
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USA, NC: Foothills Brewing Co. forced to expand for the second time in a year
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Consumers of Foothills Brewing Co. craft beers have paid heed to the Winston-Salem company’s call to “stay thirsty”.
As a result, Foothills is expanding its production capacity for the second time in a year to meet increased demand, Winston-Salem Journal reported on May 1.
Foothills is ranked among Ratebeer.com’s 100 best breweries in the world. It brews more than 20 year-round, plus seasonal offerings. Among its best sellers are Hoppyum IPA, Sexual Chocolate and Carolina Blonde. The company has 115 employees and expects to add more as demand for its beers increase.
The company is purchasing new production equipment, which is expected to be delivered by June 15. The equipment consists of four fermentation tanks, a 400-barrel bright tank, a 25-barrel cold liquor tank and a new whirlpool.
The fermenting tanks will be 300 barrels in size, “the biggest we’ve ever had,” the company said on its website. The new tanks will bolster production capacity by 55 percent, or to about 62,000 barrels a year. That’s compared with about 13,000 barrels in early 2013.
“By the time all that new equipment is up and running, we’ll be able to get four brews done in the time it now takes us to do three,” the company
...More info on site
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Canada, BC: White Rock Beach Beer Company opened in White Rock, BC
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B.C. based beer blog Mike’s Craft Beer reports that the small city of White Rock on the southern edge of the Metro Vancouver district is home to the province’s newest brewery, with the recent opening of White Rock Beach Beer Company.
The brewery is one of B.C.’s smallest, with a small Brew Magic system and several 50 litre fermentors being used to produce two flagship brands – West Beach Fruit, a 5% abv/36 IBU pale ale named for the citrusy notes provided by Centennial hops; and East Beach Nut, a 4.9% abv/32 IBU brown ale brewed with Canadian grain and hops.
White Rock Beach will also offer a rotating seasonal, with the first being Border Porter, a 7.4% abv/29 IBU robust porter.
White Rock Beach opened its doors for the first time this past weekend, selling growlers of all three brands on April 26 and 27 from 1:00 to 5:00 PM. Retail hours will be limited to weekends for now, as all three partners are also continuing to work their day jobs as teachers.
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Japan & USA: Suntory Holdings completes nearly $16 bln buyout of Beam Inc.
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Japan's Suntory Holdings said May 1 it had completed a nearly $16 billion buyout of the firm behind Jim Beam bourbon, creating the world's third largest high-end spirits maker and giving it a foothold in the major US liquor market.
Suntory has acquired all outstanding shares of Beam Inc. for $13.8 billion while taking on $2.0 billion of the US-based firm's debt.
The combined company, with about 3,400 employees, will be called Beam Suntory Inc. with plans to merge Suntory Liquors' spirits business by before the end of this year.
Combined sales of Beam Inc. and Suntory's spirits business were $4.6 billion in 2013, according to a statement issued by Suntory.
The buyout, first announced in January, marks the latest foreign acquisition by family-owned Suntory and is part of a recurring trend for Japanese companies as they see their home market declining due to a shrinking population.
A strong yen in recent years also helped the propel the shopping spree as overseas deals were relatively cheaper for Japanese companies, although such purchases slowed last year as the yen sharply declined.
The Beam deal is the third-biggest overseas acquisition by a Japanese firm, after mobile carrier SoftBank's $21.6 billion takeover of US-based Sprint Nextel last year and
...More info on site
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USA, WA: Drop Anchor Brewery grand opening scheduled on May 3
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“It’s a dream come true,” said the owners of Drop Anchor Brewery, which recently opened its doors in Cathlamet, Wash.
The owners invite the public Saturday, May 3 to the grand opening with food, music, drawings and tastes of several of its brewed-fresh craft beers. The festivities begin at noon, The Daily Astorian reports.
Brewers Andy Lea and Steve Sharp craft the beers using recipes they have produced over several years of home brewing. All the signature beers are produced from scratch using fresh ingredients.
Lea, the head brewery and production manager, worked for Pyramid Brewing when it was located in Kalama, Wash., and has been an avid home brewer for more than 17 years. Assistant Brewer Steve Sharp has been home brewing for more than seven years.
The brewery always offers a selection of four signature beers – a Northwest pale ale, a hop-filled India pale ale, a Scottish ale and a dark porter – plus one or two experiments. Visitors will be able to enjoy a pint in the tasting room, fill up a “growler” (32- or 64-ounce) to go or purchase an entire keg.
“We will also brew seasonal beer to meet our summer tourist demand,” added Lea.
The brewery offers a Founders
...More info on site
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Canada, ON: William Street Beer Co. launches quietly in Cobourg, Ontario
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William Street Beer Co. quietly opened its doors on April 26 in Cobourg, Ontario, and as is becoming typical at new brewery openings across the country, it didn’t take long for its initial supply of beer to sell out, Canadian Beer News reported.
In a post on the brewery’s blog, owner Sean Walpole writes that William Street opened at 10:00 AM on April 26 with no advance notice, and by 3:00 PM, the entire bottled stock of the flagship North Shore Blonde Ale had sold out, along with a small pilot batch of Wheat King IPA.
North Shore is also available on tap at 92 King, a recently opened gastropub in Cobourg that specializes in craft beer.
William Street’s retail store will be open for limited retail hours through the spring – 12:00 noon to 6:00 PM on Thursdays and Fridays, 10:00 AM to 4:00 PM on Saturdays – selling bottles of North Shore and Cliff Top Pale Ale. Hours will increase in the summer, as will be brand selection, with the release of the seasonal White Sail Wheat Ale planned in a few weeks.
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USA, FL: Darwin Brewing Co. set to open in Bradenton later in May
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Bradenton's second microbrewrey, Darwin Brewing Co., is set to open May 24, Bradenton Herald reported on May 2.
The brewery, 803 17th Ave. W., features Andean-inspired beers and is a sister operation to Sarasota restaurant Darwin's on 4th, 1525 Fourth St.
"We're just stoked to be here," chef and owner Darwin Santa Maria said. The Peru native added that the Bradenton establishment would be the first full Peruvian brewery in the United States.
The grand opening will run from noon to 10 p.m., and will see the opening of the brewery and tasting room. A soft opening is being planned for next week, but no date has been announced.
The bar and 15-barrel tasting room is owned by Santa Maria, business partner Matt Cornelius and will be overseen by head brewmaster Jorge Rosabal. The brewery also features a beer garden, space for food truck rallies, canning, kegging and growlers.
The tasting room will feature eight Darwin brews plus four guest taps, and the Darwin beer will include a mix of Peruvian flavors and spices and locally sourced ingredients, said Santa Maria, who traveled to Peru in search of new spices to try. It will be up to Rosabal to help perfect the experimentation.
"What I love
...More info on site
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USA, FL: Barley Mow Brewing investing in expansion
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The owners of Barley Mow Brewing Co. plan to add a 20,000-square-foot production facility to their existing nano brewery and tavern in Largo by late summer, Tampa Bay Business Journal reported on April 30.
Barley Mow offers 25 to 35 varieties of small batch beer throughout the year. Jay and Colleen Dingman operate a 2,000-square-foot facility and 1,200-square-foot beer garden at 518 West Bay Drive.
In February, they paid $950,000 for an industrial building at 521 Commerce Drive, a few blocks away.
They financed the purchase through an SBA loan, savings and by offering about 15 percent of equity in the business.
Many of the shareholders are regular customers, Jay Dingman said.
By opening the production facility, they will be able to distribute their beer on a larger scale.
Dingman would like to have a presence in every U.S. state within three years.
The debut of Barley Mow in 2011 coincided with a rise in popularity of craft beers.
Craft brewers sold an estimated 15.6 million barrels of beer in 2013, up from 13.2 million barrels the previous year, according to the Brewers Association, a nonprofit trade association in Boulder, Colo.
“Our timing was outstanding,” Dingman said. “What I was hoping would happen is happening. It’s happening quicker
...More info on site
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Canada, ON: Smithworks Brewing to be launched in Peterborough some time in May
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More than a decade after Kawartha Lakes Brewery was bought and consolidated into Toronto’s Amsterdam Brewery, the original KLB location in Peterborough will soon be up and running as a brewery once again, with next month’s opening of Smithworks Brewing, Canadian Beer News reported on April 30.
Founded by three Smiths – brewmaster Graham, his brother Randy, and Randy’s wife Kelly – Smithworks will be focussed on brewing what Graham describes as “traditional Continental European style beers”, with a variety of old school ales and lagers planned to be brewed in the future.
The brewery’s debut release will be Smithworks Hefeweizen, which will be available by the glass or in take-home bottles at the Smithworks tasting room and retail store, opening at 687 Rye Street in Peterborough some time in May.
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USA, MI: Bell's Brewery launch in Escanaba delayed
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The new Bell's Brewery building in Escanaba is almost completed but title and licensing are taking more time than anticipated, delaying the opening date by months, Daily Press reported on April 30.
"It is what it is," said Larry Bell, company president. "I've learned that the first rule of the brewing business is 'Nothing happens fast.'"
Bell's Brewery Inc., headquartered in downstate Comstock, is constructing a state-of-the-art 11,550-square-foot beer-brewing and bottling facility called the "Upper Hand Brewery" on Airport Road in Escanaba.
The name relates to how people show where the U.P. is with one hand and refer to Lower Michigan with the other hand, explained Bell.
Construction of the new building began last November with Gunlach Champion as the general contractor.
"Our contractor did a great job working through this winter," commented Bell. "The building is mostly done."
Workers are waiting for the ground to thaw to do outdoor concrete pouring and landscaping. Road restrictions also have to be lifted before paving can be done as well, he said. Bell said he expects equipment to start arriving next week.
"Most of the interior work is completed," he said, with the exception of pipefitting and hookups for the equipment. The tasting room also has to be finished,
...More info on site
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Canada, BC: Strange Fellows Brewing joining East Vancouver’s craft beer scene soon
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As the craft brewing industry has continued to explode in B.C., East Vancouver has become one of the hotbeds for new brewery openings – so many that the area has earned the nickname “Yeast Van”. And soon, Strange Fellows Brewing will be joining growing horde of start-ups and veterans in the area, Canadian Beer News reported on April 25.
Strange Fellows is being founded by Aaron Jonckheere and Iain Hill (of Yaletown Brewing), with Jonckheere documenting the process from conception to completion on his blog, I’m Starting a Craft Brewery.
Set to be one of the larger new breweries in the area, with 9000 square feet and a 30 hectolitre brewhouse, Strange Fellows will be focussed heavily on Belgian-style ales and sour beers, with space being set aside for a barrel-aging program.
As construction on the brewery is in its very early stages, it will likely be a number of months before beer will be available.
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Germany: Demand from abroad boosts German beer sales in the first quarter of this year
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Demand from abroad helped sales of German beer rise 2.8 per cent in the first quarter, compared with the same quarter of 2013, the
...More info on site
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Japan: Asahi Group beer sales register 11.3% increase in January - March
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Asahi Group Holdings, Ltd., the parent company of Japan’s largest brewer, reported its financial results for the first three months of this year on
...More info on site
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Japan: Kirin Holdings reports January-March financial results
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Japan’s Kirin Holdings said on April 30 its sales increased to 528.73 bln yen in the three months to March 31, 2014 from 520.663
...More info on site
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Brazil: Beer output increases in January-April 2014
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Brazil’s beer output increased by 11.7% in April 2014 as compared to the same month last year, preliminary data by SICOBE showed.
However, in comparison
...More info on site
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UK: First-quarter beer sales fall by 3.1%
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The late Easter and the extreme weather at the start of the year hit quarterly beer sales say the British Beer & Pub Association
...More info on site
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Brazil: Grupo Petrópolis to build a malting plant and a brewery in Paraná
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Grupo Petrópolis, Brazil’s second-largest beer maker and the only 100% Brazilian-owned company in the industry, will invest R$ 2.2 bln in the construction of
...More info on site
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Germany: Barley and malt exports increase in July-February
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The German statistics office reports that Germany exported 10.4 mln tonnes of grain from July 2013 to February 2014, which is up from the
...More info on site
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UK: Barley market could look noticeably different in 2014/15
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With the largest crop in 15 years, and little chance of intervention being used to balance the surplus, this has been a significant season
...More info on site
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UK: Around 95% of planned spring barley crop now drilled
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Around 95% of the planned U.K. spring barley crop is now drilled, according to U.K. grains body HGCA.
"Seed beds on light and medium soils were good. However, where crops are drilled on heavier land, often as part of a black-grass control strategy, seed beds were difficult to prepare in dry conditions," the HGCA said on May 1, adding that there are no serious concerns over pests for the crop right now.
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Belgium: Institutional Shareholder Services Inc. criticizes AB InBev’s executive compensation plan and board composition
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A leading adviser to large investment firms criticized the executive compensation plan and board composition of Anheuser Busch InBev SA, Chairman Kees Storm said April 30, in a rare challenge to the corporate-governance practices of the family-controlled brewing company, The Wall Street Journal reports.
The criticism, delivered by Institutional Shareholder Services Inc. in a confidential opinion to shareholders, might have influenced shareholders at the company's annual meeting on April 30 to cast around 13% of their votes against the appointment, or reappointment, of board members representing AB InBev's BUD +0.82% controlling families.
Those board members include the Belgians Alexandre Van Damme and Grégoire de Spoelberch, and the Brazilian billionaires Carlos Alberto Sicupira and Marcel Hermann Telles. AB InBev's board is dominated by a small group of Belgian and Brazilian families who together own a majority of the company's shares, now worth more than $170 billion.
"ISS expressed their concerns," said Mr. Storm at a news conference after the meeting. "That was very open and very obvious. There are people who want more independent directors on the board, it's as simple as that."
ISS didn't respond to a request for comment.
Jorge Paulo Lemann, one of the richest men in Brazil who is also a
...More info on site
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Brazil: Beer taxes will be raised before the World Cup soccer tournament
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Brazil’s plan to boost beer taxes before hosting the World Cup soccer tournament sent Anheuser-Busch InBev NV’s local unit tumbling the most in five years, Bloomberg reported on April 30.
The government will increase taxes on beverages including beer, soda and bottled water June 1 as part of efforts to increase revenue after suffering its first sovereign credit downgrade in a decade last month. The World Cup starts June 12, and the government forecasts 600,000 foreign tourists will attend games scheduled to be played in 12 Brazilian cities.
Ambev SA shares slumped 5 percent to 16.30 reais at the close of trading in Sao Paulo, the biggest drop since March 2009. The shares are down 5.9 percent this year.
The tax plan will raise 1.5 billion reais ($671 million) by year-end and will only have a minimal impact on inflation, Carlos Alberto Barreto, the head of the federal tax agency, told reporters in Brasilia on April 29. Ambev may decide to raise prices to offset the higher levies on brewers, according to Rodrigo Martin, an analyst at Quantitas Asset Management.
“What a bad surprise for the company,” Martin said in a phone interview from Porto Alegre, Brazil. “Ambev had said it was not planning
...More info on site
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Zimbabwe: Thirst for beer now has to be quenched by cheaper alternatives
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Zimbabwe might be in the midst of an economic slowdown but the country’s populace still boasts of being top beer consumers, Business Report said May 1.
But their thirst for beer, which continues to bloat despite low disposable incomes, now has to be quenched by cheaper beverage alternatives.
And for Delta Corporation, SABMiller’s Zimbabwean associate unit, the numbers are telling: a steep decline in lager beer volumes in the past two quarters has seen the Chibuku opaque beer segment rise.
Delta enjoys a dominant position in the Zimbabwean beer market.
It only faces competition from imports and brewers of traditional beer in the country.
But Chibuku has particularly come to the rescue of the company, with a new variation, the Chibuku Super, providing a longer shelf life and increased portability.
Delta has a diverse product portfolio mix, even beyond the beer segment, as the company is also into sparkling beverages, the non-alcoholic opaque and nutritious maheu, as well as juice and dairy-based soft drinks.
Some are clearly aimed for the top end of the market and others for low earners, a strategy that has works well for the company.
The premium lager beer market faces competition from imports such as Heineken, Amstel and Carlsberg.
There is also a sizeable
...More info on site
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Ireland: Guinness St James's Gate brewery may suffer from construction of new underground DART
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Guinness manufacturing giant Diageo fears the €2 bln underground DART will sink the home of its iconic dark beer, Irish Independent reported on May 2.
The company said Irish Rail plans to put the new line underneath its multi-million euro brewing plant at St James's Gate.
Last week, Irish Rail issued letters to 5,000 home and business owners whose lands could be seized for the construction of the new underground line, which has just received planning permission. Diageo is the biggest business to be affected.
A spokeswoman for Diageo on May 1 said that it had received a letter from Irish Rail in recent days about the compulsory purchase of lands.
Irish Rail said planning permission has been granted with "conditions." One was that environmental risk management and the monitoring of buildings will be carried out at all times during the construction.
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