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E-Malt.com Newsletter 31b
August 04 - August 07, 2016
Quote of the Week
There is more to life than beer alone, but beer makes those other things even better.
Stephen Morris
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Currency Rates
Base Currency: US Dollar
on August 05, 2016 |
Base Currency: Canadian Dollar
on August 05, 2016 |
| |
1 USD = 0.8977 EUR
1 USD = 0.7552 GBP
1 USD = 1.3052 CAD
1 USD = 1.3131 AUD
1 USD = 101.2300 JPY
1 USD = 3.2239 BRL
1 USD = 66.3941 RUB
1 USD = 6.6384 CNY
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1 CAD = 0.7660 USD
1 CAD = 0.5785 GBP
1 CAD = 0.6876 EUR
1 CAD = 1.0059 AUD
1 CAD = 77.5500 JPY
1 CAD = 2.4696 BRL
1 CAD = 50.6343 RUB
1 CAD = 5.0852 CNY
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Currency Rates Chart
Equities of the Largest Breweries
Canada: Molson Coors officially announces new brewery in Chilliwack, British Columbia
...Click here
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USA: Diageo to broaden investments in beer and change the name of its US business
...Click here
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USA, ME: Sebago Brewing, Maine Beer Company expanding operations
...Click here
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USA, OH: Scotland’s BrewDog seeking to raise up to $50 mln for US expansion
...Click here
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USA, CA: Loma Brewing Company hoping to open in Los Gatos by August 12
...Click here
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USA, FL: Islamorada Beer Company to open its second brewery in Fort Pierce later this month
...Click here
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Canada, AB: All brewers selling beer in Alberta now have to pay a C$1.25-per-litre markup
...Click here
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USA & China: Empire Brewing Company to begin exports to China
...Click here
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USA, CA: Karl Strauss Brewing Company to open satellite brewery and brewpub in Southern Carolina in August
...Click here
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USA, VT: Ten Bends Beer to launch in Hyde Park on August 6
...Click here
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USA, NV: Revision Brewing Company decides to open brewery in Sparks, Nevada
...Click here
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USA, PA: Southern Tier Brewing Company breaks ground on satellite brewpub in Pittsburg
...Click here
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World: AB InBev executives to dominate leadership positions after merger with SABMiller
...Click here
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Japan: Kirin Holdings cuts sales forecast for the year on increased competition
...Click here
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China: China’s largest brewers failing to cope with growing demand for more sophisticated beers
...Click here
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Japan: Suntory Holdings reports significant increase in first-half net income
...Click here
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Brazil: Heineken completes expansion and modernization of Ponta Grossa brewery
...Click here
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World: Global hops output this year expected to be at least 100,000 tonnes
...Click here
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Nigeria: Heineken warns many Nigerians are trading down to other brands due to difficult economic situation
...Click here
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Jamaica: Red Stripe to employ more people as it prepares to resume export to the US
...Click here
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Vietnam: The Vietnam Brewery Limited Company officially changes its name to Heineken Vietnam Brewery Limited Company
...Click here
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World: The Scotch Whisky Association worried about the post-Brexit future of whisky exports to emerging markets
...Click here
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Graph of the Week
Table of the Week
World Barley Trade
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
HOPS DO NOT NECESSARILY
NEED TO TOUCH BEER FOR
DRY HOPPING PURPOSES
ABSTRACT
A German research team that came up with the idea of
extracting hop aroma into beer by applying a combined
desorption/absorption process. The process-dependent
mass transfer was predicted using two different
approaches: a thermodynamic approach, and response
surface modelling. The methods offer the following
advantages: no beer losses, no clarification steps
needed, potential reuse of hops for bittering. Using
response surface methodology was clearly superior
as compared to calculating the mass transfer using
thermodynamic approximations.
Klie, R.: Feasibility and Optimization of a Novel Desorption/ Absorption Process for
Transferring Hop Volatiles into Beer, poster presentation at the Trends in Brewing Conference,
April 2016, Ghent.
Read more
Source: Barth Innovations
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These Days in Business History
04 August
1693 - Dom Perignon invents champagne
1790 - Congress enacts Alexander Hamilton's plan to fund the public debt and giving birth to the American securities markets
1930 - Michael J. Cullen opens his first King Kullen store. He calls it a "supermarket," one of the nation's first - and it is a smash hit, as people drive from miles around for the new shopping experience
2007 - NASA's Phoenix spaceship is launched
05 August
1914 - 1st traffic light installed (Euclid Ave & E 105th St, Cleveland)
1926 - 1st talkie movie "Don Juan" at Warner Theatre, NY
1930 - Birth of Neil Armstrong , X-15 pilot, 1st Moonwalker (Gemini 8, Apollo 11)
1991 - Soichiro Hondo CEO & founder (Honda), dies of liver cancer at 84
06 August
1661 - Holland sells Brazil to Portugal for 8 million guilders
1945 - Hiroshima Peace Day-atom bomb dropped on Hiroshima by "Enola Gay"
1990 - UN Security Council votes 13-0 (2 abstentions Cuba & Yemen) to place economic sanctions against Iraq
07 August
1888 - Theophilus Van Kannel of Philadelphia patents revolving door
1928 - The dollar shrinks, literally: the US Treasury unveiled a new version of the note that was one third smaller than its predecessor
1955 - Tokyo Telecommunications Engineering, the precursor to Sony, sells its first transistor radios in Japan
1959 - Explorer 6 transmits 1st TV photo of Earth from space
Agenda
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
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Canada: Molson Coors officially announces new brewery in Chilliwack, British Columbia
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After announcing late last year its Burrard Street facility in Vancouver would be closing, Molson Coors now says it will build a new brewery on a 36-acre site at Highway One and Vedder Road in the Fraser Valley, Chilliwack, British Columbia, News 1130 reported on August 4.
It will open in late 2018 or early 2019, at which time the Burrard brewery will cease operations.
Chilliwack Mayor Sharon Gaetz says this is a big deal and once the company announced it was leaving Vancouver, she wanted her city to be first in line.
“We love welcoming investment and CEPCO worked really hard this November to bring them in. They talked to them about our low taxes and the way that the city works with business. We have low development cost charges and are business friendly.”
Gaetz adds water quality was another factor in the company’s decision to move and there are obvious benefits to brewing in the city, including job creation.
Vice-President of Corporate Affairs at Molson Coors Gavin Thompson says it was important to stay in the province. “BC is great because you’re right on the US border but you’re also right along a coastline and you have great access into Western Canadian markets,
...More info on site
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USA: Diageo to broaden investments in beer and change the name of its US business
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Diageo PLC on August 5 said it plans to broaden its investment in beer in the U.S. and change the name of the business there, signalling a shift in the world’s largest spirits maker’s approach to American beer, The Wall Street Journal reported.
Diageo said it is changing the name of its beer business to Diageo Beer Co. USA from Diageo-Guinness USA to signal its “commitment to the broad category of premium beer.” The company will ramp up investments in Irish beers Smithwick and Harp, which have struggled in the U.S., resulting in falling beer sales last year.
Diageo’s U.S. beer portfolio, which includes alcopop Smirnoff Ice, logged a 3% drop in volumes in fiscal 2016. Beer net sales fell 3% driven by a decline in Smithwick and Harp. Diageo reported flat net sales for Guinness in the U.S., blaming “a crowded craft beer segment.”
Beer makes up about 20% of Diageo’s global sales but its biggest business is in Africa, where it sees the drink as a vehicle through which to sell its spirits brands.
In the U.S., the company has historically plowed its money into Guinness and Smirnoff ice, which make up the vast majority of the Diageo-Guinness business. On August 5
...More info on site
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USA, ME: Sebago Brewing, Maine Beer Company expanding operations
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Two Maine-based craft breweries — Sebago Brewing and Maine Beer Company — are in the process of finalizing brewery expansions projects what would enable each company to significantly grow their operations in the greater Portland area, Brewbound.com reported.
Sebago Brewing, based in Gorham, on August 2 announced plans to open a new $5 million destination brewery in 2017. Pending planning board approvals, the company could break ground as early as November, it said in a press release.
“Our vision for this brewery is to create a place where people can walk the trail system or go cross-country skiing, and then take a tour of our brewery and sample Sebago beers paired with small plates from our wood-fired oven in the tasting room,” brewery co-founder Kai Adams Adams said via the release. “It will be a great place to gather in the community and the ideal use of this unique land at the gateway to Gorham.”
Adams, along with partners Brad Monarch and Tim Haines, is looking to double Sebago’s current brewing footprint and aim to construct a 31,000 sq. ft. facility complete with a four-vessel, 40-barrel brewhouse and more than 9,000 sq. ft. of tasting room and office space.
Sebago has until the end
...More info on site
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USA, OH: Scotland’s BrewDog seeking to raise up to $50 mln for US expansion
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BrewDog, the self-styled “punk” brewer, is seeking to raise up to $50 mln from American ale enthusiasts to expand in the US despite only having a niche following in the world’s biggest craft beer market and no sales there for the past year, The Guardian reported on August 4.
The Scottish company has launched its biggest crowdfunding campaign by asking US consumers to buy at least two shares for $47.50 each of a new US company that will be valued at $250 mln.
The “equity for punks USA” fundraising will sell up to a fifth of BrewDog USA Inc, with the remainder owned by BrewDog and its existing 46,000 crowdfunded investors.
BrewDog has almost finished building a 9,000 sq metre (100,000 sq ft) brewery in Columbus, Ohio, scheduled to open this year. The company will use the money to finance production at the site and to open bars, depending on the amount raised.
As in the UK, investors will get a range of perks, including 5% off drinks in BrewDog bars around the world, a free tour of the Columbus brewery and two tickets to the US company’s beer-fuelled annual meeting.
BrewDog has funded its rapid expansion in Britain and construction of the Columbus site
...More info on site
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USA, CA: Loma Brewing Company hoping to open in Los Gatos by August 12
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The long-awaited opening of the Loma Brewing Company in Los Gatos is just around the corner, hopefully by Aug. 12 or shortly thereafter, The Mercury News reported on August 3.
Brothers Scott and Kevin Youkilis purchased the former Los Gatos Brewing Company, 130 N. Santa Cruz Ave., in early 2015. Scott is a San Francisco restaurateur and Kevin is a retired Major League Baseball player who lives in Monte Sereno.
Loma will feature 14 craft beers on tap, many of which will be brewed on site. The Loma Brewing Company will initially be open Sundays through Thursdays from 5:30 to 9 p.m., and Fridays and Saturdays from 5:30 p.m. to midnight.
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USA, FL: Islamorada Beer Company to open its second brewery in Fort Pierce later this month
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The craft beer in mainland South Florida is a growing industry, but we mustn't forget the little trail of islands to the south that once formed their own republic. Islamorada Beer Company (IBC) cofounders Jose Herrera and Tyrone Bradley — from Delray Beach and Fort Lauderdale, respectively — chose to found their brewery in the Florida Keys, New Times Broward-Palm Beach reported on August 3.
They, along with Chris Trentine and Nik Schroth, who were both raised in the Keys, opened IBC in May 2014. Now the co-owners are poised to open a second, 27,000-square-foot facility in Fort Pierce on August 19.
All but Schroth, who graduated from the University of Central Florida, were classmates at Florida Atlantic University in Boca Raton. It was Bradley who caught the home brewing bug as far back as 2010, when breweries in South Florida were few and far between. And it was Bradley and his passion for brewing that would draw the rest of his friends into craft beer, says Herrera.
They were there for the openings of Cigar City, Due South, and Tequesta brewing companies and witnessed the subsequent explosion of craft beer in South Florida. It got them thinking that maybe they should open
...More info on site
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Canada, AB: All brewers selling beer in Alberta now have to pay a C$1.25-per-litre markup
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All brewers selling their beer in Alberta now have to pay a C$1.25-per-litre markup, regardless of where their breweries are located or how much they brew, CBC News reported.
The tax took effect on August 5 and is meant to create consistency in Alberta's beer industry, according to a July 12 announcement by the provincial government. Previously, only large brewers paid the C$1.25 per litre markup, while smaller brewers paid as little as 10 cents per litre, depending on their production volume.
A grant program for Alberta-based small brewers was promised at the time the new tax structure was introduced, though details weren't released until more than two weeks later.
Patrick Gaudet says the news came as a shock to his small-scale Edmonton brewery, Bent Stick Brewing.
"It was extremely stressful for us," Gaudet said. "We had to make pricing decisions with very little to go on so we had to just basically raise our pricing in line with what the taxing was."
Gaudet launched Bent Stick Brewing with three other brewers in June. The team has bottled and sold about 5,000 litres since, he said, which amounts to a C$6,250 tax under the new markup system.
There are about 40 small breweries across Alberta,
...More info on site
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USA & China: Empire Brewing Company to begin exports to China
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Its new brewery in Cazenovia, NY is barely a couple months old but Empire Brewing Company is taking another huge step, this week it's becoming an international company, WSYR reported on August 4.
The craft brewer is making its first shipment of beer made in Central New York to China.
Jing Zhang is Empire’s Exports Director and tells NewsChannel 9, "You would see a lot of brew pubs or even just tap rooms are popping up every day."
Zhang was born and raised in the southwest part of China.
She was in Syracuse just a couple years when she saw on TV that Empire and a Chinese tea company were talking about a beer infused with tea.
"And I was like, huh, there's a company in Syracuse that wants to do business in China," Zhang says.
Empire founder David Katleski had recently come back from a trip to China with local business leaders looking for export opportunities.
By chance Katleski met the founder of Jingwei Fu Tea Company and ‘Two Dragons’ beer was born, but Katleski saw more.
"They're about 20 years behind us in terms of craft so there's an opportunity to be one of the first imported craft beers in China." He says.
New York State has
...More info on site
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USA, CA: Karl Strauss Brewing Company to open satellite brewery and brewpub in Southern Carolina in August
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Karl Strauss Brewing Company on August 4 announced it would open a new satellite brewery and brewpub in Southern California next month.
Located across from Angel Stadium in Anaheim, the company’s new brewery — its 10th brewing location — will include a 7-barrel brewhouse, two 14-barrel fermentation tanks and three 14-barrel brite beer tanks. The facility will be capable of pouring upwards of 35 unique, small-batch beers at a time, the company said.
A 335-seat brewpub will feature 24 rotating taps and customers will be able to purchase 6-packs, 22 oz. bottles and growlers to go.
“We’re looking forward to introducing our beers to more Anaheim residents,” brewery president and co-founder Matt Rattner said via a release. “This location is the perfect setting for socializing with friends over a freshly brewed, locally made craft beer from an independent brewery.”
The company also plans to use the new location for research and development.
“We give our brewers the freedom to experiment on our satellite systems and it’s proven very helpful in landing our next big release, like Aurora Hoppyalis or Mosaic Session IPA,” Karl Strauss brewmaster Matt Johnson said in the release.
Karl Strauss’ new facility, which is just steps away from Golden Road Brewing’s satellite brewery
...More info on site
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USA, VT: Ten Bends Beer to launch in Hyde Park on August 6
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Ten Bends Beer, a one-barrel microbrewery from Mike Scarlata and Jason Powell, debuted with 2,500 poured samples this weekend at the Stowe Brewers Festival. For those who missed a sip of the duo's small-batch ales, Ten Bends will open a brick-and-mortar brewery and tasting room on Saturday, August 6, at 590 East Main Street in Hyde Park, Vermont, Seven Days reported on August 2.
"We had great reception at [the festival]," says Powell. "We had a big line at our booth — everybody was really supportive." The brewers note that the forthcoming brewery will be in good company, located just a few towns over from beer hubs such as the Alchemist and Lost Nation Brewing.
"We're happy to be in proximity to all these guys," Scarlata says. "We're excited to be a part of that mecca."
Scarlata and Powell were avid solo homebrewers before meeting through their wives almost five years ago. "The desire to own our own business, plus the passion for craft brewing, peaked when we came together," Powell says. "[The brewery] was a natural occurrence — a no-brainer."
The duo has gutted and reconstructed a former slaughterhouse in a building shared with ReSOURCE VT, turning the space — equipped with handy
...More info on site
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USA, NV: Revision Brewing Company decides to open brewery in Sparks, Nevada
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Revision Brewing Company plans to open a brewery in Sparks by the end of 2016, FoxReno.com reported on August 4.
According to a release, award-winning brewer Jeremy Warren 'revised' his plans to open a location in West Sacramento and will now open a production facility and taproom at 380 S. Rock Boulevard, about a five-minute drive from downtown Reno.
Warren had previously served as the founder, former co-owner, and Brewmaster at Knee Deep Brewing Company.
Revision Brewing Company reports plans to distribute in California, Hawaii, Nevada, Oregon, Washington, North Carolina, and Georgia in 2017.
The brewery will accommodate a three vessel, twenty-barrel brewhouse and will produce 5,500 barrels the first year. Within 5 years, the company plans to expand to 15,000 barrels.
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USA, PA: Southern Tier Brewing Company breaks ground on satellite brewpub in Pittsburg
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Southern Tier Brewing Company breaks ground on first satellite brewpub in Pittsburgh, PA, Brewbound.com reported on August 4.
Nestled within easy walking distance between Heinz Field and PNC Park, Southern Tier will open its brewpub at 316 North Shore Drive this fall. It will feature a full food menu as well as both pub-exclusive and classic STBC beers. Craft beer fans can expect the same commitment to quality and relentless innovation that the company has embodied since 2002.
The Pittsburgh brewery will feature a smaller version of the custom made, state of the art, German-built brewhouse in Southern Tier’s flagship Lakewood location. This setup provides the ability to replicate the same high quality brews while cranking out new innovations specifically for Pittsburgh.
The site also will feature a 10,000 sq. ft. outdoor beer garden, providing the perfect venue for game day. The location is conveniently accessible by public transportation and foot traffic and has ample parking.
Southern Tier is working to staff the facility while finishing the space. “We’re aiming to open our doors in time for the bulk of football games this fall” notes Southern Tier founder, Phin DeMink.
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World: AB InBev executives to dominate leadership positions after merger with SABMiller
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Anheuser-Busch InBev NV executives will dominate leadership positions after taking over rival brewer SABMiller PLC, filling all but one position on an expanded executive management board, The Wall Street Journal reported.
Under a new structure announced on August 4, AB InBev said it would expand its executive management board to 20 people from 17 by adding geographic zones covering Africa, Australia and Colombia.
SABMiller’s Mauricio Leyva, currently the managing director of African subsidiary SAB Ltd., will lead AB InBev’s Middle Americas business from Mexico City and become the only SABMiller member of the combined brewer’s executive management board.
AB InBev’s dominance of leadership positions at the combined brewer fits its practice of placing its executives in a position to quickly install the Belgian brewer’s goal-oriented, cost-conscious culture after a takeover. It took a similar approach after buying Anheuser-Busch Cos. in 2008 and Grupo Modelo in 2013.
The world’s largest brewer said it would continue to be headquartered in Leuven, Belgium, and its global management team, including Chief Executive Carlos Brito and Chief Financial Officer Felipe Dutra, would continue to be based in New York. It will add zone headquarters in Johannesburg, Melbourne and Bogotá.
The company said it would keep SABMiller’s offices in Woking, U.K.,
...More info on site
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Japan: Kirin Holdings cuts sales forecast for the year on increased competition
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Kirin Holdings Co. cut its sales forecast for the year on increased competition even as the second-biggest Japanese brewer raised profit projections by a
...More info on site
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China: China’s largest brewers failing to cope with growing demand for more sophisticated beers
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Chinese breweries have a bigger problem than the looming merger of AB InBev and SABMiller. The ground is shifting as consumers are increasingly prepared
...More info on site
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Japan: Suntory Holdings reports significant increase in first-half net income
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Japan’s Suntory Holdings Limited said on August 5 it registered a 35.633 bln yen net income attributable to owners of parent company in the
...More info on site
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Brazil: Heineken completes expansion and modernization of Ponta Grossa brewery
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World’s third-largest brewer Heineken announced on August 3 the completion of a R$400 mln investment project aimed at expansion and modernization of its production
...More info on site
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World: Global hops output this year expected to be at least 100,000 tonnes
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Forecasts for global hops output this year are for amounting to at least 100,000 tonnes, HVG said on August 3.
In all growing regions
...More info on site
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Nigeria: Heineken warns many Nigerians are trading down to other brands due to difficult economic situation
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Heineken has said that consumers are “still drinking beer” in Nigeria, but warned that many are trading down to other brands due to the economic situation of the country, as the country recovers from a major currency devaluation, Nigeria Today reported on August 3.
Nigeria is said to account for about half of Heineken’s sales in Africa and the Middle East, but Heineken says a move to value brands is increasingly putting pressure on its margins.
It says however, its overall beer volumes in the country increased in the first-half of the year.
Heineken CFO Laurence Debroux said on August 2, “As for consumers in Nigeria, the good news is that they keep drinking beer.”
He also added, “After a first half of 2015 where we were a bit worried about the volumes, now this is back, but [consumers are] definitely trading down to more value and lower mainstream brands, which are actually flying in volumes.”
Nigeria has been hit by an economic downturn fuelled by a drop in oil prices.
Last month, the government introduced a flexible exchange rate that resulted in a 40% devaluation of the Naira.
Heineken said this week it has taken a EUR24 mln hit from the devaluation, however, it is now
...More info on site
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Jamaica: Red Stripe to employ more people as it prepares to resume export to the US
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Red Stripe will be employing 30 more people as it prepares to resume its export of the world-famous lager beer to the United States next month, and plans to employ another 300 when it completes a major upgrade of its brewery on Spanish Town Road in Kingston, Jamaica Observer reported on August 4.
Managing Director Ricardo Nuncio told Cabinet ministers Audley Shaw and Karl Samuda, who toured the Spanish Town Road brewery with a host of press personnel on August 3, that the company — a subsidiary of Dutch brewing company Heineken International — would resume brewing for the foreign market in mid-August.
“We should be ready to start shipping the product to the US market as of the first week of September. That is now a reality. It is going to happen in the first week of September,” Nuncio told his guests during lunch in the company’s recreational room, which followed the tour.
D&G had been manufacturing Red Stripe at the local brewery since 1938, but in 2012 then parent Diageo decided to shift production of the product to Latrobe, Pennsylvania, in the United States, to service its US consumers.
The move led to a few beer drinkers taking the company to court,
...More info on site
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Vietnam: The Vietnam Brewery Limited Company officially changes its name to Heineken Vietnam Brewery Limited Company
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The Vietnam Brewery Limited Company (VBL) officially changed its name to Heineken Vietnam Brewery Limited Company (Heineken Vietnam Brewery) and released a new logo on August 1, VietNamNet Bridge reported.
There are no changes to the shareholding structure between the two stakeholders in the joint venture. The Saigon Trading Group (Satra) continues to hold 40 per cent while Heineken Asia Pacific partner still holds 60 per cent.
“The new image of Heineken Vietnam Brewery will be introduced in the Asia Pacific region and no changes will be made to management and organizational structure,” said Ms. Le Minh Trang, Chairman of Heineken Vietnam Brewery and General Director of Satra.
The company will preserve its business and production models as well as the property rights on its all brands, which include Heineken, Tiger, Larue, BGI, Bivina, Desperados, Affligem and Strongbow Cider.
According to Mr. Leo Evers, Managing Director of Heineken Vietnam Brewery, products under the old brand name will continue to be distributed and their quality will remain unchanged.
With annual profit averaging around $186 million and State budget contributions $573 million, many have asked whether Heineken has its eyes on Satra’s shareholding in the joint venture, with its first step being to change the brewery’s name.
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World: The Scotch Whisky Association worried about the post-Brexit future of whisky exports to emerging markets
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The Scotch Whisky Association (SWA) has warned that trade tariffs on exports to emerging markets such as Korea, South Africa and Colombia could rise as a result of the Brexit vote, The Spirits Business reported on August 3.
Such countries currently have Free Trade Agreements (FTAs) with the EU that mean no or very low tariffs on whisky, and after completing a post-referendum consultation with its membership, the SWA has warned that unless there are transitional arrangements Scotch will lose out on “significant tariff reductions”.
The SWA said the UK “will eventually need to negotiate its own FTAs or rely, as the EU largely does with most countries, on WTO (World Trade Organisation) rules”, adding that that this process would “take a major upgrade of capacity within the UK Government” and could not be actioned quickly.
The body called for a trade policy that was “as open and free trading as possible”, and urged the government for clarity on future trading arrangements as soon as possible.
The SWA added that the UK must develop its own network of trade agreements with non-EU countries over the medium term.
David Frost, SWA chief executive, said: “Scotch Whisky is one of the UK’s most successful exports. We are
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