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E-Malt.com Newsletter 03a
January 12 - January 14, 2015
Quote of the Week
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Currency Rates
Base Currency: US Dollar
on January 14, 2015 |
Base Currency: Canadian Dollar
on January 14, 2015 |
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1 USD = 0.8468 EUR
1 USD = 0.6598 GBP
1 USD = 1.1964 CAD
1 USD = 1.2257 AUD
1 USD = 118.2750 JPY
1 USD = 2.6689 BRL
1 USD = 64.4643 RUB
1 USD = 6.1285 CNY
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1 CAD = 0.8360 USD
1 CAD = 0.5516 GBP
1 CAD = 0.7079 EUR
1 CAD = 1.0247 AUD
1 CAD = 98.8803 JPY
1 CAD = 2.2313 BRL
1 CAD = 53.8936 RUB
1 CAD = 5.1236 CNY
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Currency Rates Chart
Equities of the Largest Breweries
USA: Constellation Brands says its Modelo Especial poised to overtake Heineken as the No.2 selling imported beer
...Click here
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USA & Germany: Urban Chestnut Brewing Co. acquires German Bürgerbräu Wolnzach brewery
...Click here
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USA, NY: Long Island’s first malt house may be up and running by July
...Click here
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USA, FL: Liquor stores and beer distributors challenging the way licenses are issued for craft brewers to sell their products in tasting rooms
...Click here
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USA, PA: Mad Chef Craft Brewing Company slated to open in East Petersburg by early June
...Click here
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Canada, ON: Mister Beer Bottle Brew halts operations
...Click here
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Canada, ON: Left Field Brewery finally ready to open its own brewery
...Click here
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USA, WA & OR: MillerCoors to market new gluten-free beer in Seattle and Portland as from next month
...Click here
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USA, IN: New brewery may be launched in Muncie soon
...Click here
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USA, WI: Raised Grain Brewing Company planned for opening in Waukesha
...Click here
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USA, IL: Baderbräu Brewing Company to open in Chicago this summer
...Click here
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USA, VT: Trout River Brewing Co. gets approval to establish brewery in Springfield
...Click here
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Germany: Per capita beer consumption increases in 2014
...Click here
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Japan: Japan’s major brewers shifting focus back to traditional beer
...Click here
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World: Barley trade forecast for 2014/15 lowered to 22.1 mln tons
...Click here
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Portugal: Beer consumption estimated to have declined by 1-2% last year
...Click here
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Ethiopia: Heineken confident of expansion potential of Ethiopia beer market
...Click here
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The Czech Republic: Budejovicky Budvar reports best exports result in 119 years
...Click here
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Australia: Coopers Brewery toasts sales and market share increase in 2014
...Click here
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UK: Carlsberg considering the future of its super-strength brands
...Click here
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Russia: Russia strengthens informal curbs on grain exports ahead of export tax introduction - traders
...Click here
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India: United Spirits’ minority shareholders approve entering into agreements with certain Diageo subsidiaries
...Click here
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Mozambique: At least 72 people die of poisoned homebrew
...Click here
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Graph of the Week
Table of the Week
Materials Used at US Breweries 2000 - October 2014
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
January 12
1914 Henry Ford announces that he will share the Ford Motor Co.'s profits with its workers by raising wages from $2.34 for a nine-hour day to $5.00 for an eight-hour day.
1970 Boeing 747 makes its maiden voyage
1975 Chrysler Corp offers 1st car rebates
January 13
1785 John Walter publishes 1st issue of London Times
1942 Henry Ford patents a method of constructing plastic auto bodies
January 14
1914 Henry Ford introduces assembly line, for T-Fords
1935 Oil pipeline Iraq-Mediterranean goes into use
1985 British pound sinks to record low-$1.11
Agenda
February 2015:
10-12: International Brewing Awards 2015
11-14: National Winter Ales Festival 2015 (Derby, UK)
21-24: Beer Attraction 2015 (Rimini, Italy)
March 2015:
11-14: Brazilian Beer Festival - Festival Brasileiro da Cerveja 2015 (Blumenau, Brazil)
20-21: BeerX 2015 2015 (Sheffield, UK)
31 March - 02 April: ProPak Vietnam 2015 (Ho Chi Minh City, Vietnam)
April 2015:
14-17: Craft Brewers Conference & BrewExpo America 2015 (Portland, USA)
21-23: Brewer (Pivovar) 2015 (Moscow, Russia)
25-26: Zythos 2015 (Leuven, Belgium)
May 2015:
06-08: bevtec Asia 2015 (Bangkok, Thailand)
07-23: The Czech Beer Festival 2015 (Prague, the Czech Republic)
19-22: Beer (Pivo) 2015 (Sochi, Russia)
24-28: EBC 2015 (Porto, Portugal)
26-28: Alimentaria Mexico 2015 (Mexico City, Mexico)
28-30: Copenhagen Beer Festival 2015 (Copenhagen, Denmark)
28-31: Latvia Beer Fest 2015 (Riga, Latvia)
June 2015:
10-14: Mondial de la Biere 2015 (Montreal, Canada)
July 2015:
01-04: Ollesummer 2015 (Tallinn, Estonia)
15-17: Brasil Brau 2015 (Sao Paulo, Brazil)
August 2015:
11-15: The Great British Beer Festival 2015 (London, UK)
September 2015:
19 September - 14 October: Oktoberfest 2015 (Munich, Germany)
24-26: Stockholm Beer & Whisky Festival 2015 (Stockholm, Sweden)
October 2015:
01-03: Stockholm Beer & Whisky Festival 2015 (Stockholm, Sweden)
November 2015:
10-12: Brau Beviale 2015 (Nuremberg, Germany)
More events are available on site www.e-malt.com
News Articles
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USA: Constellation Brands says its Modelo Especial poised to overtake Heineken as the No.2 selling imported beer
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Constellation Brands announced on January 8 that its Mexican beer brand Modelo Especial is poised to overtake Heineken as the No.2 selling imported beer in the US.
“Continued investment in national Hispanic TV helped propel the continued growth of this brand, which posted consumer retail take away volume trends of more than 20% in IRI channels during the quarter,” CEO Rob Sands told analysts during an investor call on his firms’ Q3 2015 results.
Net sales rose 7% on a comparable basis to $1.542 bln for Q3 fiscal 2015 and net income rose 14% on the same basis to $248 mln, as Constellation reaped the benefits of what CEO Rob Sands described as “exceptional ongoing momentum for our beer business”.
Sands said Modelo Especial had a “huge runway for growth” and was currently at about 60% ACV in IRI with the product still skewed from a demographic point of view towards Hispanics, though he believes penetration with this population isn’t what it could be.
“Because the brand is expanding into the general market now so well we’ve introduced general market television advertising which we think is going to accelerate the growth of this product even further.”
Glossing a ramp-up in distribution of Modelo
...More info on site
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USA & Germany: Urban Chestnut Brewing Co. acquires German Bürgerbräu Wolnzach brewery
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An upstart St. Louis, Missouri, craft brewer is headed to Germany, a country rich in beer history, to open its third brewery in five years, St. Louis Post Dispatch reported on January 9.
Urban Chestnut Brewing Co. has acquired the Bürgerbräu Wolnzach brewery in Wolnzach, which is about 35 miles north of Munich.
The St. Louis-based company plans to brew small batches of beer at the Bavarian facility in the second quarter of 2015. Financial terms of the acquisition were not disclosed.
Bavaria is the homeland of Urban Chestnut’s co-founder and brewmaster Florian Kuplent, a former Anheuser-Busch brewmaster who started Urban Chestnut with David Wolfe in 2011. Wolnzach, situated in the world’s largest hops producing region, is home to the German Hops Museum.
The Bürgerbräu Wolnzach brewery stopped production about six months ago, and Urban Chestnut seized the opportunity to acquire it, Kuplent said in a phone interview from Germany. Urban Chestnut began expanding sales to Germany in 2013 and has been looking for a brewery there.
“We buy a lot of ingredients from Germany and I go there often to visit my family,” Kuplent said, adding that the timing of the acquisition wasn’t planned. “It happened more quickly than we thought,” he said.
Urban Chestnut
...More info on site
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USA, NY: Long Island’s first malt house may be up and running by July
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Long Island’s first malt house is being planned on the East End in order to supply malt to local craft breweries and distilleries, and if all goes well it will be up and running in time for July’s harvest, Dan’s Papers reported on January 9.
The man planning the malt house is Brian Zimmerman, who has had a long career working on farms or with farmers. He’s worked for Cornell Cooperative Extension as a farm technician in Yaphank, and for the U.S. Department of Agriculture Natural Resource Conservation Service, helping farmers with conservation plans and engineering.
For his new endeavor, named ZBH Malting, he’s contracted two East End farms to grow barley and other grains to supply the malt house. The grains are beneficial cover crops—that is, crops that hold the soil in place and add green material—which could prove more profitable for farmers than the cover crops they would otherwise plant, he says.
Between two farms, he has 5 acres of grain in the ground. Zimmerman asked Tom Romanski in Calverton to grow wheat and barley and Zilnicki Farms in Riverhead to grow hard red wheat. “It’s very good for malting, and it’s very good to bake with as well,” Zimmerman says
...More info on site
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USA, FL: Liquor stores and beer distributors challenging the way licenses are issued for craft brewers to sell their products in tasting rooms
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Florida liquor stores and beer distributors are challenging the way the state issues licenses allowing craft breweries to sell their products in tasting rooms, a move that brewers say could put dozens of breweries out of business or, at the very least, halt rapid growth in the industry, Associated Press reported on January 12.
The Florida Retail Federation is suing the Department of Business and Professional Regulation, and the associations that represent Anheuser-Busch and MillerCoors distributors have asked to intervene in support of the suit. Separately, the Florida Independent Spirits Association filed a challenge with the agency. The association includes ABC Fine Wine & Spirits chain, which is the state's largest liquor store chain.
The groups said they aren't trying to shut down the brewery tasting rooms, but rather to clarify the law that allows the brewers to serve draft beer to drink on site and cans and bottles to take home.
"We're not asking for them to withdraw any licenses. Moving forward, we're asking them to stop issuing licenses as of right now under their current practices and to design a rule that better explains how the law should be applied," said Samantha Padgett, a lawyer with the retail federation.
The groups contend
...More info on site
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USA, PA: Mad Chef Craft Brewing Company slated to open in East Petersburg by early June
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A new brewpub, Mad Chef Craft Brewing Company, is slated to open by early June in East Petersburg, Lancaster Online reported on January 12.
The roughly 3,000-square-foot brewpub would take a spot in the Village Commons shopping center, 2023 Miller Road.
Construction work has begun on the brewpub, with owners Francisco Ramirez and Greg Kendig targeting an opening date of around Memorial Day, according to the brewpub's Facebook page.
The brewpub will open with about 5 or 6 beers on tap, eventually having up to 10 beers on draft at one time, Kendig said. It will also fill growlers.
In addition to traditional beer styles, Kendig said Mad Chef will experiment with culinary-inspired brews.
The website lists eleven varieties, including including Hop Stew Pale Ale, Mango Wheat, Bourbon Pecan Pumpkin Ale and Imperial Black Rye IPA.
Mad Chef will operate with a seven-barrel brew system that will allow it make about 224 gallons of beer at a time.
Kendig said the budget for the project is around $200,000, with about half of that for the brewing equipment.
Kendig said he expects to finalize applications this week for the necessary state and federal licenses.
Kendig is a Pequea Valley High School graduate who formerly worked in Lancaster County but now
...More info on site
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Canada, ON: Mister Beer Bottle Brew halts operations
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Mister Beer Bottle Brew (MB Bottle Brew), owned by Canadian establishment Armada Data Corporation, has halted operations at its production facility, Drinks Business Review reported on January 9.
Armada is seeking options to divest the Bottle Brew business line.
Armada president and CEO R. James Matthews said: "The Mister Beer sales and production team worked very hard and did a wonderful job attracting new clients and distribution networks but, to date, has not been able to sustain ongoing re-orders from this network to meet minimum levels of profitability.
However, the permanent closure of the brewery and the business is not certain and Armada will make a final decision after fully exploring divestiture options.
As part of exploring divestiture options, Armada is in talks with third parties regarding purchase/investment options related to the Mister Beer Bottle Brew business division.
No agreement or commitment has been reached, to date, with any potential purchasers, investors or partners.
"Armada does not intend to continue to subsidize a business division that continues to lose money, notwithstanding the significant inroads the sales team has made with two or three national retail chains and two major resellers," added Matthews.
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Canada, ON: Left Field Brewery finally ready to open its own brewery
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It won’t be long before craft beer is brewing in Leslieville, Ontario, Inside Toronto reported on January 10.
After months of preparation and renovations, Left Field Brewery (LFB) is gearing up to produce its very first (test) batch of suds early in 2015.
The baseball-themed craft brewery housed in a 100-year-old former brick factory at 36 Wagstaff Dr. will also include a retail store and a tap room where people can taste the different types of beer LFB produces.
Six-year Danforth East residents Mark and Mandie Murphy have been working non-stop for close to a year to transform a 6,000-square-foot space into a their state-of-the art beer-making facility.
The extensive renovation involved removing several walls, sandblasting the entire interior of the building to reveal the original red brick walls, wood ceiling and steel beams, upgrading and re-pouring the concrete floors and installing proper drains among other things.
The cavernous space really started to look like a brew house after a shipment of beer-making equipment including three fermenters, a mash mixer, lauter tun and a kettle/whirlpool arrived from Abbotsford, British Columbia in early November.
The three-vessel brewery also includes a 300-square-foot walk-in cooler as well as an area for canning, kegging and bottling.
“It’s great to see everything
...More info on site
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USA, WA & OR: MillerCoors to market new gluten-free beer in Seattle and Portland as from next month
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Beginning in February, MillerCoors will market a “naturally gluten-free” variety in Seattle and Portland, the company has confirmed to AdAge.
"With more consumers living a gluten free-lifestyle, there are few satisfying choices in the beer category," the brewer stated in a memo shared with Ad Age about the upcoming Coors Peak Copper Lager.
"Our brewers have developed a proprietary brewing process that is specifically designed to deliver a 100% gluten free beer worthy of the Coors name."
Coors Peak Copper Lager will be made with brown rice and protein from peas, a spokesman told AdAge. The beer will also be brewed separately from beers that contain gluten in order to comply with gluten-free certification rules.
The beer is described as a "light to medium-bodied crisp copper lager" with a "malty, slight caramel profile offset by subtly spicy hops and the finish is slightly bitter, crisp and perfectly balanced."
For the foreseeable future, distribution is expected to be limited to Seattle and Portland.
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USA, IN: New brewery may be launched in Muncie soon
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The founder of the Scotty’s Brewhouse restaurant chain is among a group exploring the possibility of turning a vacant downtown Muncie industrial building into a business incubator and brewery, The Star Press reported on January 11.
The Cintas building at the corner of Madison and Jackson streets is the focus of what might be a joint effort involving the city, Ball State University and Scott Wise, a Muncie-born entrepreneur who founded his growing restaurant empire here in 1996.
“We’re looking at that building for our brewing facility,” Wise told The Star Press. “We’re talking to them about how we can get involved and put our brewing facility there.”
Wise said the 5,000-square-foot brewery at his Broad Ripple Thr3e Wise Men brew pub is “maxed out,” and he likes the thought of investing and creating additional jobs in Muncie.
Wise will open a Thr3e Wise Men restaurant in the Courtyard by Marriott hotel now under construction — with a projected December 2015 opening — downtown.
Mayor Dennis Tyler told The Star Press that the idea to redevelop the building — known as the home of Midwest Towel for a half-century — as a means of boosting business was too good to pass up.
“Negotiations are going on
...More info on site
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USA, WI: Raised Grain Brewing Company planned for opening in Waukesha
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Startup craft brewer Raised Grain Brewing Company LLC plans to open a brewery and tasting room in a 2,480-square-foot space at 2244 W. Bluemound Road in Waukesha, according to plans submitted to the city.
The brewery will produce beer for distribution to restaurants, craft beer bars and grocery or liquor stores. During its first year, 90 percent of the company’s product will be produced and packaged off-site at a new brewery in Waunakee, Wis. But Raised Grain eventually plans to have all of its production in Waukesha, BizTimes.com reported.
The company’s goal is to achieve “regional brewery” status within 10 years, defined as exceeding production of 15,000 barrels of beer per year.
The management team for Raised Grain Brewing Company includes partner and brewmaster Scott Kelley, partner Nick Reistad and partner Kevin Brandenburg.
The brewery will have two full-time employees and 10 part-time employees by the end of its second year of operations, according to the plans submitted to the city.
“We have the team and the plan to build an exciting brand,” the Raised Grain Brewing Company business plan states. “Ultimately, we want to elevate Wisconsin to the level for beer that California is for wine.”
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USA, IL: Baderbräu Brewing Company to open in Chicago this summer
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Founded by longtime home brewer Rob Sama, Baderbräu Brewing Company continues to evolve and expand its name in the Chicagoland area, examiner.com reported on January 11.
Baderbräu Brewing Company plans to open a brewery and taproom in the South Loop neighborhood this summer. Located at 2515 South Wabash, the facility will feature a 4,000 square foot taproom, plus retail space. The brewery will feature a 20HL mash filter system, the first of its kind in the Chicagoland area.
Baderbräu was revived in 2012 by Rob Sama, an avid homebrewer, who brought back the original Chicago Pilsener popular in the 1990’s and has since created seasonal varietals like Red Velvet, Oktoberfest, Lawnmower Lager and Naked Selfie, a black IPL.
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USA, VT: Trout River Brewing Co. gets approval to establish brewery in Springfield
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The Springfield Select Board has gotten behind a plan by the purchasers of Trout River Brewing Co. of Lyndonville to establish a brewery in the former Fellows Gear Shaper complex, Times Argus reported on January 14.
The Select Board voted on January 12 to loan $45,000 to Vermont Beer Shapers LLC, a business formed by Springfield beer aficionados Trevor Billings, Gabe Streeter and Kelen Beardsley.
The three friends bought Trout River late last year and are in the process of establishing the brewery at the Gear Shaper building. They bought Trout River’s equipment, name and beer recipes.
Billings and Streeter met behind closed doors with the Select Board on January 12 night before the board came back out in open session and approved the five-year low-interest loan.
Billings and Streeter said they hoped to have the brewery set up soon, but they said a lot depended on them getting their federal brewery license. “We have no definite time frame,” Billings said. “This year.”
Streeter will be the brewery’s only full-time employee, Billings said. He is the most expert brewer among the three friends. Eventually all three expect to be full-time employees, Streeter said.
According to the terms of the loan, Beer Shapers will start paying
...More info on site
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USA, ID: Daft Badger Brewing to open in Coeur d
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Northwest style custom-made beers will highlight an attractive building (inside and out) at Daft Badger Brewing at 1710 N. Second St in Coeur d'Alene, Idaho, CDAPress.com reported on January 11.
The 10-barrel system will process 20 barrels of beer (315 gallons) in one brew.
Daft Badger Brewing will open 11 a.m. Tuesday, Jan. 20, with regular hours of 11 a.m. to 8 p.m. Tuesday through Sunday.
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Germany: Per capita beer consumption increases in 2014
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German beer consumption saw a slight uptick in 2014, according to estimates by the German Brewers Association on January 12, which would mean a
...More info on site
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Japan: Japan’s major brewers shifting focus back to traditional beer
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Japan’s four major brewers are shifting their focus back to beer in response to the saturation of markets for happoshu low-malt quasi-beer and so-called
...More info on site
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World: Barley trade forecast for 2014/15 lowered to 22.1 mln tons
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USDA in its January report said Australian barley export forecast for 2014/15 is raised 200,000 tons to 4.5 million on larger-than-expected carry-in and strong
...More info on site
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Portugal: Beer consumption estimated to have declined by 1-2% last year
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In 2014, beer consumption in Portugal registered a small decline of 1-2%, but the drop was due to weather and not economy, Sapo reported
...More info on site
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Ethiopia: Heineken confident of expansion potential of Ethiopia beer market
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Heineken is betting on Ethiopia's rising incomes to fuel rapid expansion of the beer market in Africa's second most populous country, where the group is the first of the big international brewers to build a new plant, Reuters reported on January 12.
Ethiopia's average annual beer consumption of some 5 litres per capita is about half the average level for sub-Saharan Africa, excluding South Africa, offering scope for expansion among the population.
Heineken's African and Middle East regional president Siep Hiemstra said in an interview on January 12 that Ethiopians were used to fermented drinks and also grew barley, used in beer making.
"It's a country, where as a brewer, you believe you should be there ... One can expect that there will be rapid expansion of the brewing industry," he said.
Ethiopia's economy is expanding at about 9 percent per year, sturdy growth that led to its debut $1 billion Eurobond being oversubscribed last month.
The world's major brewers have turned to emerging markets such as Africa for growth because consumer spending in Europe is sluggish and the United States offers only limited expansion opportunities.
Heineken is the market leader in Europe, responsible for half of group revenue and about a third of its operating
...More info on site
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The Czech Republic: Budejovicky Budvar reports best exports result in 119 years
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Czech state-owned brewery Budejovicky Budvar, which has been fighting a long legal battle with U.S. beer giant Anheuser-Busch over the use of the "Budweiser" brand, says its overall output and exports reached record highs in 2014, AP reported.
Budejovicky Budvar NP says exports rose by 6 percent to reach 813,000 hectolitres of beer, the best result in 119 years.
Budvar exported to 70 countries last year, five more than the previous year. Overall output reached 1.457 million hectolitres, up 2.5 percent from 2013.
Profit figures from the brewery are due in April.
Both Budvar and Anheuser-Busch — which was taken over by Belgian brewer InBev in 2008 to form AB InBev — claim exclusive right to the Budweiser name.
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Australia: Coopers Brewery toasts sales and market share increase in 2014
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Australia’s privately-owned Coopers Brewery has defied the national downturn in beer consumption, notching up a 7.4 per cent increase in sales over the past calendar year, The Australian reported on January 14.
The South Australian brewer sold a record 77.3 million litres of beer in 2014, giving the independent a 5 per cent share of the Australian market.
Growth was driven by Coopers’ expansion outside its home state, as well as a rise in offshore sales. Indeed exports now make up a little over 10 per cent of Coopers’ total sales.
“Exports were also up 7.2 per cent as the impact of the falling Australian dollar begins to take effect,” said Coopers managing director Tim Cooper.
At the same time, Coopers notched up double digit sales growth in Western Australia, Queensland and Victoria.
South Australia remains Coopers’ largest market, with 25.8 per cent of total sales, just ahead of New South Wales with 25.7 per cent.
Coopers is planning to spend A$4.5 million this year to expand the capacity of its Adelaide brewery, including installing an additional four fermenters.
The Australian beer market has failed to generate sales growth since 2009.
The 153-year old Coopers is an unlisted public company owned by around 150 members of the Coopers family.
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UK: Carlsberg considering the future of its super-strength brands
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Carlsberg is considering a range of options in the UK over its super-strength lager brands Special Brew and Skol Super, including cutting their ABVs, as part of the country's government's Responsibility Deal.
The brewer announced late last month it will meet a pledge to stop selling cans containing four units of alcohol or more. The 50cl formats of Special Brew and Skol Super, both with an ABV of 9%, do not currently meet this pledge.
The Danish firm's UK unit is looking at changing the size of serve for the brands, or reducing their strength, industry sources report. Any changes will be made by this autumn.
Skol Super is only available in a 50cl can, while Special Brew currently comes in 50cl and 44cl cans and a 27.5cl bottle.
“It is clearly down to individual consumers how they drink our products, but to help create this responsible drinking environment, we will be reviewing our portfolio and withdrawing any single-serve cans containing over four units of alcohol from sale during 2015,” said Bruce Ray, Carlsberg UK's corporate affairs director.
Last July, Carlsberg's rival Anheuser-Busch InBev confirmed it was stopping production of its 9% abv Tennent's Super Lager in the UK as part of the Responsibility Deal.
The
...More info on site
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Russia: Russia strengthens informal curbs on grain exports ahead of export tax introduction - traders
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Russia has strengthened informal curbs on grain exports since the start of the year, further complicating trading before the introduction of an export tax, a Russian grain exporters' lobby said on January 13 in a letter to officials.
Russia, expected to be the world's fourth-largest exporter this year, hopes export curbs will cool domestic grain prices and constrain food inflation as it tackles a financial crisis linked to plunging oil prices and Western sanctions.
These curbs "complicate trading operations and completely stop them from time to time", the National Association of Exporters of Agricultural Products said in a letter to Deputy Prime Minister Arkady Dvorkovich and other officials.
Moscow imposed tougher quality monitoring in December and later decided to impose a tax on grain exports from Feb. 1.
The grain exporters' group listed a new set of curbs, including more and longer quality monitoring by food safety watchdog Rosselkhoznadzor and delays on getting the final documents needed from ports for loaded ships to set sail.
The association, which accounts for more than 75 percent of the country's grain exports, asked the government to ease the curbs so traders could meet their contracts before the export tax is imposed.
The tax, or a duty on wheat exports,
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India: United Spirits’ minority shareholders approve entering into agreements with certain Diageo subsidiaries
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United Spirits Ltd (USL) on January 10 said its minority shareholders have approved a proposal to enter into licensing and cost sharing agreements with certain subsidiaries of its parent Diageo Plc, which was rejected earlier last year, The Economic Times reported.
In a filing to the BSE, the company said a special resolution was approved by the shareholders "with requisite majority" at an extraordinary general meeting held on January 9.
The company said 76.33 per cent of the minority shareholders approved its proposal, a tad over the 75 per cent requirement.
Although the promoter and promoter groups are required to abstain from voting, the filing said United Breweries (Holdings) Ltd, holding 2.90 per cent shares of the United Spirits and Kingfisher Finvest India Ltd, holding 1.14 per cent of the share capital, have exercised their votes in favour of the special resolution.
"Pursuant to the terms of the extra general meeting notice, the scrutiniser has invalidated the votes exercised by these entities," it added.
The proposal included entering into licence for manufacture and sale agreements, distribution, cost sharing and other agreements by the company with its holding company Diageo Plc, the filing added.
The approval by the minority shareholders comes nearly two months after they had
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Mozambique: At least 72 people die of poisoned homebrew
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At least 72 people who drank a homemade beer at a funeral in Mozambique over the weekend have died, health officials said on January 13. Authorities believe that the beer, a traditional millet-based brew called pombe, was poisoned during the course of the funeral, The Washington Post reported.
While the death toll has gone up, the number of individuals hospitalized from the beer has dropped dramatically. There are currently 35 in the hospital following the apparent poisoning, regional health official Paula Bernardo told the Associated Press. On January 12, more than 169 people were reportedly still seeking treatment.
“As we prepared to determine the cause of death of people we began to receive a lot of people with diarrhea and other muscle aches. After that we began to receive dead bodies from several neighborhoods,” Bernardo told a state-run radio station in Mozambique.
Officials believe that the brew was poisoned some time during the daylong funeral, but have few leads on the cause or motivation. Those who drank the brew only in the morning had no signs of illness, the Associated Press reported on January 12. But those who drank in the afternoon were sick by the next morning.
The woman who brewed the beer
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