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RombBullet Currency rates
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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 Newsletter 21a
May 23 - May 25, 2016


Quote of the Week

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Currency Rates


Base Currency: US Dollar
on May 25, 2016
Base Currency: Canadian Dollar
on May 25, 2016
      1 USD = 0.8942 EUR
1 USD = 0.6872 GBP
1 USD = 1.3148 CAD
1 USD = 1.3914 AUD
1 USD = 109.6000 JPY
1 USD = 3.5637 BRL
1 USD = 67.0493 RUB
1 USD = 6.5546 CNY
      1 CAD = 0.7604 USD
1 CAD = 0.5225 GBP
1 CAD = 0.6799 EUR
1 CAD = 1.0580 AUD
1 CAD = 83.3400 JPY
1 CAD = 2.7099 BRL
1 CAD = 50.7318 RUB
1 CAD = 4.9843 CNY

Currency Rates Chart


Equities of the Largest Breweries

Equities of the Largest Breweries

North America News
Brewery news USA: Regulators investigating AB InBev’s distribution incentives ...Click here
Brewery news USA: Vijay Mallya’s US brewery admits to feeling the impact of his legal woes in India ...Click here
Brewery news USA: MillerCoors files response to lawsuit from Pabst Brewing Co. ...Click here
Brewery news USA, NC: MillerCoors may start laying off staff at its Eden brewery later than expected ...Click here
Brewery news USA, CA: Stone Brewing to open new brewery in downtown Napa next spring ...Click here
Hops news USA, KY: Kentucky Department of Agriculture looks into the potential of growing hops ...Click here
Brewery news USA, FL: Southern Swells Brewing Company close to coming online ...Click here
Hops news USA, NB: Researchers looking into Nebraska’s ability to grow hops ...Click here
Brewery news USA, IL: Evil Horse Brewing Co. launches in downtown Crete ...Click here
Brewery news Canada: Non-alcoholic Budweiser Prohibition Brew launching in Canada this week ...Click here
Brewery news USA, ME: The city of Brewer welcomes Mason’s Brewing Company ...Click here
Brewery news USA, VA: Vasen Brewing Co. signs lease for location in Richmond’s Scott’s Addition neighborhood ...Click here
Brewery news USA, FL: High Heel Brewing to introduce a line of craft beers aimed at female consumers ...Click here
Brewery news USA, MN: Indeed Brewing Company expands distribution to the Grand Rapids market ...Click here
World News
Malt news World: Germany’s malt output registers 1% increase in July/January, France barley use grows 0.9% in July/February ...Click here
Brewery news EU: EU antitrust authorities approve AB InBev’s takeover of SABMiller ...Click here
Brewery news EU: SABMiller’s central and eastern European assets draw interest from several private equity firms - sources ...Click here
Barley news EU: All forecasts of 2016 barley crop are above 60 mln tonnes ...Click here
Barley news Russia: Barley production forecast to increase next season ...Click here
Brewery news UK: Possibility of Brexit adds a touch of doubt to AB InBev’v takeover of SABMiller ...Click here
Brewery news India: United Breweries Holdings Ltd seeks more time for submitting audited financial results ...Click here
Barley news Ukraine: Spring barley sowing almost completed ...Click here
Brewery news South Korea: South Korean brewers reported to be planning beer prices hike ...Click here
Graph of the Week


Table of the Week

Africa Barley Imports, Production, Consumption, and Stocks


Table of the week.

Prices Evolution

Prices evolution

Barley Prices


Canadian Malting and Feed Barley Prices


US Malting and Feed Barley Prices


French Malting and Feed Barley Prices


German Malting Barley Prices




Theoretical Malt Prices



Canadian Malt Prices


US Malt Prices


Theoretical EU Malt Prices



Scientific Digest


INSPIRATION FOR HOPPING REGIMES

ABSTRACT
Very often, highly hop intensive beers create a high bitterness since a lot of craft brewers maximize the hop addition throughout the whole brewing process which contributes to both bittering and aroma. However, it is possible to have a strong hop aroma and flavor together with a low bitterness. This approach was exploited by this German research team monitoring bitter and aroma compounds throughout the process.

Forster, A.: special beers with unusual hopping, oral presentation at the Trends in Brewing Conference, April 2016, Ghent.

Read more
Source: Barth Innovations

These Days in Business History


23 May
1922 - Walt Disney incorporates his 1st film company Laugh-O-Gram Films
1956 - World Trade Center dedicated in Ferry Building, San Francisco
1995 - Sun Microsystems launches Java, the universal Internet programming language
1995 - The first version of the Java programming language is released

24 May
1688 - The earliest known book on the stock market, Joseph Penso de la Vega's Confusion de Confusiones (Confusion of Confusions), appears
1883 - The Brooklyn Bridge in New York City is opened to traffic after 14 years of construction
1956 - The first Eurovision Song Contest is held in Lugano, Switzerland
1973 - The Stock Exchange of Singapore is founded
1985 - Quantum Computer Services is incorporated in Delaware. In 1991 it changes its name to America Online, Inc.

25 May
1915 - Thomas Edison invents telescribe to record telephone conversations
1953 - Nuclear testing: At the Nevada Test Site, the United States conduct their first and only nuclear artillery test
1954 - IBM announces vacuum tube "electronic" brain that could perform 10 million operations an hour
1960 - 1 millionth Dutch telephone installed
1966 - Explorer program: Explorer 32 launches


Agenda

World Beer Cup 2016


May 2016:
03-06: Craft Brewers Conference & BrewExpo America 2016 (Philadelphia, USA)
17-20: Beer (Pivo) 2016 (Sochi, Russia)
18-19: Brewing Equipment and Technology 2016 (Birmingham, UK)
19-21: Copenhagen Beer Festival 2016 (Copenhagen, Denmark)
20-18 June: Great Australian Beer Spectacular (GABS) 2016 (Melbourne - Sydney - Auckland, Australia)
25-29: Latvia Beer Fest 2016 (Riga, Latvia)


June 2016:
08-12: Mondial de la Biere 2016 (Montreal, Canada)
09-11: South Beer Cup 2016 (Curitiba, Brazil)
14-16: Shanghai International Brew & Beverage Manufacturing Technology and Equipment 2016 (Shanghai, China)


July 2016:
02: Beer Boot Camp 2016 (Johannesburg, South Africa)
07-10: Artbeerfest 2016 (Caminha, Portugal)
09: Beer Boot Camp 2016 (Cape Town, South Africa)
13-15: ProPack China 2016 (Shanghai, China)


August 2016:
05-07: The 20th International Berlin Beer Festival (Berlin, Germany)
09-13: The Great British Beer Festival 2016 (London, UK)
10-13: Vietfood & Beverage - ProPack 2016 (Ho Chi Minh, Vietnam)
13-17: World Brewing Congress 2016 (Denver, USA)


September 2016:
08-10: Irish Craft Beer Festival 2016 (Dublin, Ireland)
14-15: Food and Drink Technology Africa 2016 (Johannesburg, South Africa)
19-03 October: Oktoberfest 2016 (Munich, Germany)
24-25: Whisky Live Paris 2016 (Paris, France)
26-28: VLB Ibero-American VLB Symposium 2016 (Santiago de Chile, Chile)
28-30: Beer and Soft Drinks Industry - 2016 (Kyiv, Ukraine)
29-01 October: Stockholm Beer & Whisky Festival 2016 (Stockholm, Sweden)


October 2016:
06-08: Stockholm Beer & Whisky Festival 2016 (Stockholm, Sweden)
06-08: Great American Beer Festival 2016 (Denver, USA)
08-10: Brouwplus 2016 (Antwerp, Belgium)
11-14: China Brew, China Beverage 2016 (Shanghai, China)
21-23: The Finest Spirits & Beer Convention 2016 (Bochum, Germany)


November 2016:
08-10: Brau Beviale 2016 (Nuremberg, Germany)
09-12: Vietfood & Beverage - ProPack 2016 (Hanoi, Vietnam)


December 2016:
15-17: drink technology India 2016 (Mumbai, India)


More events are available on site www.e-malt.com



News Articles


Brewery news USA: Regulators investigating AB InBev’s distribution incentives
U.S. antitrust regulators are investigating Anheuser-Busch InBev's distribution incentives as part of its review of the company's planned $107 billion takeover of rival brewer SABMiller, St. Louis Business Journal reported on May 25.

Officials are looking into AB InBev incentives, introduced at a distributors' meeting late last year, that encourage independent distributors to sell more of its beer brands at the expense of craft brewery competitors, two sources with knowledge of the matter told Reuters.

Justice Department investigators have contacted both beer distributors and craft brewers to ask about AB InBev's incentive plans and other moves to curb promotion of craft brews by distributors, the sources told Reuters. The Department of Justice declined to comment to Reuters.

Under AB InBev's incentive plan, the greater the share of rival beers sold by a distributor, the less of a refund it gets from the company for advertising AB InBev beers, according to documents provided by the company to lawmakers, Reuters reports.

An Anheuser-Busch spokesperson told the news agency, "Our voluntary incentive program clearly does not prevent or inhibit other brands from getting to market," noting that nearly all AB InBev distributors represent other brands.

Last year, the U.S. Department of Justice investigated AB InBev's plan to acquire ...More info on site


Brewery news USA: Vijay Mallya’s US brewery admits to feeling the impact of his legal woes in India
Legal proceedings in India against beleaguered businessman Vijay Mallya has now come to haunt his US-based brewery firm, which is banking on $1 million bridge loan promised by his holding firm for survival, Daily News & Analysis reported on May 22.

"Vijay Mallya, the company's Chairman and indirect majority shareholder, is presently subject to certain legal proceedings in India, which may impair the company's ability to obtain financing from UBHL (United Breweries Holding Ltd) and other potential funding sources," California-based Mendocino Brewing Company Inc said in a regulatory filing.

This is probably the first admission by the US-listed firm, which is struggling for funds and has been served 'default' notices by lenders in the past, about the potential impact of Mallya's legal woes in India on its own fortune.

If it fails to secure funds, Mendocino said, the lenders may take "recourse against the applicable pledged collateral which includes the company's real and personal property in the US and the UK".

In its latest quarterly filing with the US markets regulator Securities and Exchange Commission (SEC), Mendocino further said, "The board of directors of UBHL during this quarter has approved debt financing to the company in the form of $1,000,000 of bridge loans.

"If UBHL ...More info on site


Brewery news USA: MillerCoors files response to lawsuit from Pabst Brewing Co.
MillerCoors has filed its response to a lawsuit from Pabst Brewing Co. claiming the larger company sabotaged Pabst's future by not extending an agreement to brew Pabst's products past 2020, Milwaukee Journal Sentinel reported on May 17.

MillerCoors denies it ever acted in bad faith, misled Pabst about future brewing capacity, tried to force an early termination of the current deal or engaged in any of the other bad commercial acts that Pabst alleges in its lawsuit.

In a 44-page answer filed on May 16, MillerCoors offers detailed rebuttals to most of Pabsts' claims, with the general tone that MillerCoors acted completely within the agreement and that Pabst did not, especially by resorting to the litigation that MillerCoors said Pabst had threatened months earlier.

Along with the answer, MillerCoors filed a motion to stay the proceedings and requested the court order mediation, the dispute-settling procedure called for in the parties' agreement.

That 2007 agreement calls for MillerCoors to brew Pabst through 2020. It currently makes some 45 Pabst products at seven MillerCoors plants.

The deal called for the two sides to begin negotiating in 2015 over whether to extend it five years. That was to give Pabst plenty of time to make other arrangements if ...More info on site


Brewery news USA, NC: MillerCoors may start laying off staff at its Eden brewery later than expected
Layoffs in preparation for the MillerCoors Brewery closure may not be as immediate as previously thought, Greensboro News & Record reported on May 19.

The first round of layoffs, slated for June 3, was initially to include about 85 employees.

Recent employee claims, however, suggest that about 50 of those 85 employees will keep their jobs until a second round of layoffs in late July.

About 30 employees are expected to be laid off as previously scheduled.

The layoffs are postponed to continue production further into the year.

Representatives from MillerCoors could not be reached for comment.

“The good news about this is that those people will be employed for two more months than they thought, so that’s a good thing short term,” said Eden Economic Development Director Mike Dougherty.


Brewery news USA, CA: Stone Brewing to open new brewery in downtown Napa next spring
Stone Brewing, one of craft beer’s most recognizable brands, will open a new brewery and restaurant in downtown Napa’s historic Borreo building as early as next spring, Napa Valley Register reported on May 21.

“The historic Borreo building is the perfect space for us to put down our roots in Napa,” Greg Koch, CEO and co-founder of the San Diego brewer, said in a release announcing the project. “Not only is it literally made of stone, it’s one of downtown’s most iconic links to the 19th century and a landmark that’s been vacant for the past 15 years.”

The brewery will offer the full line of Stone’s core beers, typically known for their robust hoppiness and strong alcohol, but will also offer unique beers available only in Napa.

“We recognize the high quality of wine that comes from the region and the appreciation that Napa Valley locals and visitors have for fresh, well-crafted drink. We are elated to become a contributing part of such an artisanal town,” said Koch. He has been vacationing in the area for 20 years and has scouted locations in Napa County, including a previous attempt to locate at the Borreo building.

Stone, founded in 1996, is the 10th largest ...More info on site


Hops news USA, KY: Kentucky Department of Agriculture looks into the potential of growing hops
Kentucky Agriculture Commissioner Ryan Quarles is turning attention to the potential of growing hops in the bluegrass state, Associated Press reported on May 20.

Quarles says the state Department of Agriculture is having discussions with the University of Kentucky and Western Kentucky University to study the viability of hops production.

He says a growing craft brewery sector has created a market for Kentucky-grown hops. He says Kentucky’s number of craft breweries has grown more than 600 percent in the past five years.

Quarles says it’s important to work with universities on research to set best production methods for potential emerging crops such as hops.

Hops production was widespread in Kentucky, particularly northern Kentucky, until the early 20th century. Mildew, pests, droughts, and fluctuating prices forced hop producers in the eastern U.S. to cease operations or move to the Pacific Northwest.


Brewery news USA, FL: Southern Swells Brewing Company close to coming online
Corey Adams and Jay Varney have a long history with brewing beer – starting with home brewing in their early twenties.

A few years ago, Adams and Varney, both Jacksonville Beach transplants from Rhode Island, decided to turn that into a full-time profession, Jacksonville Business Journal reported on May 19.

"Three or four years ago, we got the idea of 'let's stop talking about opening a brewery as a pipe dream'," Adams said. "It went from all these guys talking about opening up a brewery to making a business plan and getting funding."

Now, Southern Swells Brewing Company is close to coming online, with an anticipated opening date of October or November.

The brewery, located at 1312 Beach Blvd., is spacious, at about 7500 square feet. The taproom will take up about 5000 square feet, something Adams said will help them stand out from Engine 15 and Green Room.

"The size of our location affords us some unique opportunities to host more events," Adams said. "We're thinking of having yoga on site and hosting run clubs to really engage the active community at the Beach. We want to become a place where events can be held or be the after spot."

Southern Swells will also be ...More info on site


Hops news USA, NB: Researchers looking into Nebraska’s ability to grow hops
Most hops grown in the United States come from the Pacific Northwest, but researchers are looking into Nebraska’s ability to grow the beer ingredient, Nebraska Radio Network reported on May 17.

Stacy Adams, associate professor of practice in the University of Nebraska-Lincoln’s Agronomy Department, says he has been growing some hops on campus the past few years.

That will expand to Norfolk, Scottsbluff, Sutton, and Valparaiso, and the focus will be on consistency.

“If we’re going to have a viable crop that’s profitable for these specialty crop growers, we have to have a market for it,” Adams tells Nebraska Radio Network. “The only way to be marketable, is that if you grow hops, it has to be consistent from year to year to year to year.”

The test plots will include eight hop varieties: Centennial, Chinook, Crystal, Pearl, Willamette, Columbia, Cluster, and Zeus.

Adams says if yields and quality are consistent, hops should be a profitable specialty crop.

“My understanding is the brewers would really jump on the chance to get local hops,” he says.


Brewery news USA, IL: Evil Horse Brewing Co. launches in downtown Crete
A new craft brewery revived a historic 103-year-old building in downtown Crete that's perhaps best known as the former Crete Bowling Lanes, nwtimes.com reported on May 21.

Evil Horse Brewing Co., named after a notoriously uncooperative horse that bucked off riders at the brewmaster's Beecher farm, opened on May 20 at 1338 Main Street in Crete. The new craft brewery tries to embody the same spirit of independence as that "evil" horse, said Michael Liccar, a partner in the business.

Liccar, brewmaster Steve Kamp and a group, who all attend Crete Church, launched the new craft brewery, which they hope will be a draw to downtown Crete. In keeping with the many horse farms in the area, they brew beers with equestrian-themed named such as Trot Hopple India Pale Ale, the Sergeant Reckless American Pale Ale, which is named after a horse that won two Purple Hearts in the Korean War and was featured in the Saturday Evening Post, and the Downtown Hottie American Wheat Ale, named after a racehorse who placed first after throwing off her jockey at Belmont three years ago.

The owners of Evil Horse Brewing plan to donate 10 percent of the net income after taxes to local charities.

"Most ...More info on site


Brewery news Canada: Non-alcoholic Budweiser Prohibition Brew launching in Canada this week
A non-alcoholic version of Budweiser dubbed 'Prohibition Brew' is launching in Canada this week to appeal to drinkers who want their hops without a buzz, STLToday.com reported on May 24.

Labatt Brewing, which is owned by Anheuser-Busch InBev, has brewed and distributed Budweiser in Canada since 1980, and Bud has grown to become Canada's top selling beer.

The non-alcoholic Budweiser may expand to other markets, including the U.S.

"Budweiser Prohibition Brew is only available in Canada for now, but we're excited by the prospect that it could eventually be offered in the U.S., the birthplace of Budweiser, sometime in the future," Ricardo Marques, vice president of Budweiser U.S, said.

Budweiser, introduced in 1876 in St. Louis, is the third best-selling beer in the U.S., trailing Bud Light and Coors Light.


Brewery news USA, ME: The city of Brewer welcomes Mason’s Brewing Company
The city of Brewer has a new brewery. Mason's Brewing Company is the third brewery to open in the city in the last two years, WCSH6.com reported on May 20.

Owner Chris Morley said the Brewery means 30 new jobs.

United States Senator Susan Collins was on hand to help cut the ribbon.

Collins' Bangor office helped secure a federal license quickly enough to open in time for summer.

The Senator even poured some beer.

"To convert this old building which hadn't been used for a couple of years, it used to be a public works garage, into a place where people can come and have great beer and a nice meal and gaze out at the river is really terrific."

The owner said he started this project five years ago.


Brewery news USA, VA: Vasen Brewing Co. signs lease for location in Richmond’s Scott’s Addition neighborhood
Richmond’s Scott’s Addition neighborhood will soon be home to another brewery, Virginia Business reported on May 20.

Evatran Group Inc., a Richmond-based manufacturer of wireless charging stations for electric vehicles, and Vasen Brewing Co. have signed two leases totaling 37,495 square feet at the HandCraft Building at 1501 Roseneath Road, according to the building’s manager, Virginia Beach-based Divaris Real Estate Inc. (DRE).

Vasen leased 16,782 square feet of retail and industrial space. The Scandinavian heritage brewery will include a 2,500-square-foot tasting room.


Brewery news USA, FL: High Heel Brewing to introduce a line of craft beers aimed at female consumers
High Heel Brewing, an innovative new craft beer company founded by master brewer Kristi McGuire, will introduce a line of craft beers specifically aimed at female craft beer consumers, Brewbound.com reported on May 23.

The company, which produces its beers in partnership with St. Louis-based Brew Hub, plans to introduce its first two beers this summer. High Heel’s beers will be brewed at Brew Hub’s brewery in Lakeland, Florida, and will be available throughout the state beginning in June. Republic National Distributing Company will distribute the beers throughout Florida.

“It’s incredibly exciting to launch High Heel Brewing and introduce our first two beers,” said Kristi McGuire, master brewer and founder, High Heel Brewing. “Our goal was to fill a gap in the market and to celebrate women in brewing and all women who love craft beer. It has been a dream come true to collaborate with the women of Brew Hub, and this launch would not have been possible without them.”

High Heel Brewing’s first two beers will be Slingback, a Perry Ale, and Too Hop’d to Handle, an American IPA.

Slingback is a hybrid beer brewed by combining the taste of a traditional ale with pear cider. The brew includes natural ...More info on site


Brewery news USA, MN: Indeed Brewing Company expands distribution to the Grand Rapids market
Indeed Brewing Company is partnering with Dick Distributing, expanding its beer distribution territory to the Grand Rapids market. Distribution will begin June 1st, 2016, Brewbound.com reported.

“Our arrival in north central Minnesota has been a long time coming,” says Nathan Berndt, co-founder at Indeed. “Dick Distributing represents an important piece of the Minnesota puzzle for getting Indeed beer to as many Minnesotan as possible. Indeed is thrilled to forge a partnership with Dick Distributing.”

Dick Distributing is a fifth-generation beer wholesaler servicing Itasca, portions of Cass, Aitkin, and Koochiching counties in Northern Minnesota.

“Dick Distributing is very excited to start our partnership with Indeed Brewing Company, and bring their excellent quality beers to our northern Minnesota Market,” says Mark Dick, Sales Manager at Dick Distributing. “Our team is thrilled to be able to offer true high-quality, made in Minnesota beers and fill that void our customers have been asking for!”

In addition to Dick Distributing, Indeed Brewing Company currently self-distributes in the Twin Cities metro and works with J.J. Taylor Minnesota, Dalheimer Beverage, D&D Beverage, Artisan Beer Company/Johnson Brothers of St. Paul, Johnson Brothers North Dakota, and Bernick’s of Duluth to distribute beer across to Minnesota and North Dakota.


Malt newsWorld: Germany’s malt output registers 1% increase in July/January, France barley use grows 0.9% in July/February
Germany’s malt production in July/January is reported at 1.059 mln tonnes, plus 1% as compared to the same period in 2014/15, H. M. Gauger ...More info on site


Brewery newsEU: EU antitrust authorities approve AB InBev’s takeover of SABMiller
The world's largest brewer Anheuser-Busch InBev gained EU antitrust approval on May 24 for its $100 billion-plus acquisition of SABMiller on condition it sell ...More info on site


Brewery newsEU: SABMiller’s central and eastern European assets draw interest from several private equity firms - sources
SABMiller Plc’s central and eastern European beer assets including Pilsner Urquell have drawn interest from private equity firms Advent International Corp., KKR & Co. ...More info on site


Barley newsEU: All forecasts of 2016 barley crop are above 60 mln tonnes
All forecasts of the EU 2016 barley crop are slightly above 60 mln tonnes, H. M. Gauger GmbH said in their May report.

Spring ...More info on site


Barley newsRussia: Barley production forecast to increase next season
Next season barley production in Russia will increase, despite reduction of acreage, UkrAgroConsult reported on May 24. The analysts estimate that barley production will rise ...More info on site


Brewery news UK: Possibility of Brexit adds a touch of doubt to AB InBev’v takeover of SABMiller
Last October, the £44-a-share offer by Anheuser-Busch InBev (AB InBev) for SABMiller seemed so eye-wateringly generous there was little doubt it would win over shareholders, BDlive reported on May 23.

Six months later, the uncertainty around the coming UK vote on European Union (EU) membership and the possibility of Brexit has introduced a disturbing element of doubt.

Bernstein, one of the leading research firms covering the $104 bln merger, has raised the possibility (admittedly slight) that continued depreciation of sterling could persuade the SABMiller board to oppose the deal. When the offer was announced in October, it represented a hefty 50% premium to SABMiller’s share price on the day before media speculation about a potential deal. It was an easy deal to support.

But Bernstein notes that in recent months a variety of factors have worked in SABMiller’s favour in terms of its sterling valuation. Large-cap European equities have rallied about 14% since the deal was announced. SABMiller’s underlying earnings have increased about 6% in sterling terms as a result of sterling’s Brexit-related weakness against SABMiller’s operating currencies. (A notable exception to that improvement is the rand.)

Last week’s financial 2016 results show sustained positive organic performance that Bernstein estimates could add about 4% ...More info on site


Brewery news India: United Breweries Holdings Ltd seeks more time for submitting audited financial results
United Breweries Holdings Ltd (UBHL), whose majority stake has been owned by Vijay Mallya, said it sought time from the Indian market regulator for submitting its audited financial results due to the ongoing loan settlement process between its chairman and a consortium of banks led by State Bank of India (SBI) for now-defunct Kingfisher Airlines, The Times of India reported on May 23.

As per regulations from Securities and Exchange Board of India (SEBI), a listed company is required to submit audited standalone financials within sixty days (May 31) of the end of a fiscal. But UBHL said it was being "hindered from complying" with the rules and requested SEBI to extend the time up to July 31 this year.

"Kingfisher Airlines, a group company of UBHL, is in debt to several banks. In this regard, Vijay Mallya, chairman of UBHL, has made a settlement offer before the Hon'ble Supreme Court to the consortium of banks led by State Bank of India. The settlement offer is currently under consideration by the consortium of banks. It may be noted that a part of the substantial settlement amount to be paid to the consortium of banks is to be met by monetizing certain assets ...More info on site


Barley news Ukraine: Spring barley sowing almost completed
Spring barley sowing has been almost completed in Ukraine, which allows for making preliminary forecasts of barley production and exports in the 2016/17 marketing year, Black Sea Grain reported on May 24.

Currently market forecasts of barley production are set at around 7.7-8.7 mln tonnes. In particular, USDA forecasts Ukraine’s barley harvest at 7.8 mln tonnes, the Agriculture Ministry of Ukraine – at 8.67 mln tonnes, UkrAgroConsult – at 8.1 mln tonnes.

70% will be traditionally shipped abroad in July-September. Saudi Arabia will remain the largest importer of Ukrainian barley with total import demand at record high of 9.5 mln tonnes, analysts believe.

Meanwhile, demand from China may slightly decrease, due to the policy of feed grain stocks reduction in the country. As a reminder, in the current season China has imported record high volume of Ukrainian barley – 686 thousand tonnes.


Brewery news South Korea: South Korean brewers reported to be planning beer prices hike
South Korean breweries are apparently seeking to jack up beer prices in the wake of hikes in "soju" liquor prices in November last year, Yonhap News reported on May 22 citing the latest industry figures.

"(We) are considering price hikes internally," an official at Oriental Brewery (OB) Co. said. "The specific rate and timing have not been decided yet."

If the number one beer maker raises prices, its rivals Hite Jinro Co. and Lotte Chilsug Beverage Co. will probably follow suit, given their previous record.

There is a widespread rumor that OB has already notified wholesalers of plans to lift beer prices by 5-6 percent.

The production of beer has also allegedly soared recently due to wholesalers trying to hoard beer ahead of price hikes.

But OB officials denied the rumor. Also, Hite and Lotte officials claim that they are not thinking about raising prices yet.

"We heard the talk that OB is considering price hikes, but we are not doing so yet," a Hite official said. "We are going to have to watch the market situation."

The beer producers have frozen prices for more than three years since OB's 5.89-percent increase on average of all its products and Hite's 5.93-percent hike in 2012.

In November last year ...More info on site


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