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E-Malt.com Flash 38a
September 19 - September 21, 2016
Quote of the Week
Education is what remains after one has forgotten what one has learned in school.
Albert Einstein
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Currency Rates
Base Currency: Euro
on September 21, 2016 |
Base Currency: US Dollar
on September 21, 2016 |
| |
1 EUR = 1.1184 USD
1 EUR = 0.8621 GBP
1 EUR = 1.4792 CAD
1 EUR = 1.4812 AUD
1 EUR = 113.9300 JPY
1 EUR = 3.6473 BRL
1 EUR = 72.5279 RUB
1 EUR = 7.4604 CNY
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1 USD = 0.8948 EUR
1 USD = 0.7688 GBP
1 USD = 1.3211 CAD
1 USD = 1.3249 AUD
1 USD = 101.8000 JPY
1 USD = 3.2650 BRL
1 USD = 64.7513 RUB
1 USD = 6.6692 CNY
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Currency Rates Chart
Equities of the Largest Breweries
Average Market Prices Change Trend
| September 21, 2016 |
| Type |
Crop 2016 |
| EUR |
% |
| 2rs Barley |
184.50-186.50 |  |
| 6rw Barley |
173.00-175.00 |  0.58% |
| 2rs Malt |
380.50-382.50 | |
| 6rw Malt |
366.50-368.50 | 0.34% |
| Feed Barley |
131.00-133.00 | |
Note: Just click
here
and you will be led to our Market Price History. These are average French barley market prices estimated on FOB Creil basis. The theoretical average malt prices are based FOB Antwerp being estimated on French malting barley. The changes are compared to last Newsletter's prices. Arrows indicate the direction of the change.
World: Malt shipments by major exporters virtually unchanged in 2015/16 vs. previous year
...Click here
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World: A group of hedge funds could unintentionally jeopardize the AB InBev-SABMiller deal
...Click here
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World: Diageo’s 2017 fiscal year has “started well” - CEO
...Click here
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Vietnam: Vietnam aims to produce 4.1 bln litres of beer in 2020
...Click here
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Nigeria: Guinness Nigeria Plc blames its first annual loss in at least 30 years on tough economic environment
...Click here
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India: Heineken increases its equity stake in United Breweries
...Click here
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Namibia: Namibia Breweries Limited reports 43.8% increase in annual profit after tax
...Click here
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World: Global barley production seen 3 mln tonnes down this year
...Click here
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EU: The EU Commission expects new barley crop to total 59 mln tonnes
...Click here
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Brazil: Kirin Holdings begins partnership negotiations to turn around its Brazilian business
...Click here
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Venezuela: Cost of beer production up by 6,500 percent because of lack of resources and federal minimum wage increase
...Click here
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Nigeria: Guinness Nigeria receives $95 mln loan from parent Diageo to cope with dollar shortages
...Click here
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UK: Diageo said to be reviewing staff levels in order to make savings of £500 mln
...Click here
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USA: Guinnes & Co. releases two limited-time beers from The Brewers Project
...Click here
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USA & Canada: Diageo to combine its US and Canadian spirits divisions
...Click here
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Ireland: Heineken confirms some of its products were mislabelled and sold as craft beer in Ireland
...Click here
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Graph of the week
Table of the week
World Barley Production by Country
Prices Evolution
Barley Prices
Theoretical Malt Prices
Scientific Digest
HOW IMPORTANT IS THE HSI VALUE FOR
THE SENSORY PROPERTIES OF WHIRPOOL
HOPPED AND DRY HOPPED BEERS?
ABSTRACT
The HSI value is a very important parameter for
brewers to evaluate the quality of hops used for
brewing. However, few investigations have been done
on the sensorial influence on the final beer when
hops with higher HSI values are used. Our team
worked with the varieties Perle and Saaz, purposely
oxidizing the samples resulting in HSI values varying
between 0.27 (low), 0.33 (medium) and 0.49 (high).
Beers produced were hopped in the whirlpool and
additionally dry hopped. With the whirlpool hopped
beers, the HSI value was less important than in the dry
hopped beers. The beers dry hopped with hops of high
HSI values were rated slightly lower in flavor and aroma
quality, however not significantly.
Zunkel, M.: Effects in beer hopped with German Perle and Czech Saaz pellet hops with three
different HSI values, poster presentation 138 at the World Brewing Congress 2016.
Read more
Source: Barth Innovations
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These Days in Business History
19 September
1849 - 1st commercial laundry established in Oaklan, California
1854 - Henry Meyer patents sleeping rail car
1876 - 1st carpet sweeper patented (Melville Bissell of Grand Rapids, Mich)
1887 - Dr. Graham Edgar, developer of the octane rating system, was born in Fayetteville, Arkansas, on this day
1888 - World's 1st beauty contest (Spa, Belgium)
20 September
1519 - Portuguese navigator Ferdinand Magellan sets sail from Spain in an effort to find a western sea route to the rich Spice Islands of Indonesia
1839 - 1st railroad in the Netherlands opens (Amsterdam-Haarlem)
1877 - Chase National Bank opens in NYC (later merges into Chase Manhattan)
21 September
1784 - The first daily newspaper in the United States, the Pennsylvania Packet and Daily Advertiser, begins publishing
1883 - 1st direct US-Brazil telegraph connection
1931 - The day after the Bank of England abandons the gold standard, U.S. stocks tumble
Agenda
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 e-malt.com
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Malt News
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World: Malt shipments by major exporters virtually unchanged in 2015/16 vs. previous year
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The IGC reports malt shipments of the major exporters in the campaign July/June 2015/16 virtually unchanged at 6.182 mln tonnes grain equivalent (app. 5.0
...More info on site
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Brewery News
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World: A group of hedge funds could unintentionally jeopardize the AB InBev-SABMiller deal
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As SABMiller PLC’s shareholders have started voting on a $100 billion-plus deal to be acquired by rival Anheuser-Busch InBev NV, some investors and bankers
...More info on site
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World: Diageo’s 2017 fiscal year has “started well” - CEO
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Diageo’s 2017 fiscal year has “started well”, giving the group “confidence” that it can achieve its full-year growth ambitions, CEO Ivan Menezes was quoted
...More info on site
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Vietnam: Vietnam aims to produce 4.1 bln litres of beer in 2020
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Vietnam aims to produce 4.1 billion litres of beer in 2020, up from 3.4 billion litres in 2015, according to a blueprint on beer,
...More info on site
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India: Heineken increases its equity stake in United Breweries
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Dutch brewer Heineken has increased its equity stake in United Breweries Ltd by acquiring an additional 0.7% through an open market transaction on September 16, further firming up its grip over the Kingfisher beer maker, VCCircle reported.
Heineken shelled out around Rs 152 crore ($22.7 million) to pick the shares. It bought the stake from Yes Bank, stock exchange filings show. Heineken now owns 43.7% stake in United Breweries.
It could not be immediately ascertained if the seller offloaded a part of the stake pledged by Vijay Mallya, the co-promoter of United Breweries. Last November, Yes Bank had invoked 3.02% stake of United Breweries, pledged by McDowell Holdings, a part of Mallya’s UB Group.
Separate email queries to Heineken and Yes Bank did not immediately respond to a request for comment.
Mallya, who faces several charges over bank debt raised by group firms and is currently in the UK after being labelled as a 'wilful defaulter' by several banks, has been slowly losing his grip on what is his last big company in India.
He has already lost control of United Spirits and in February stepped down from its board after a tussle with Diageo.
UB Group held 30.86% stake in United Breweries as of June
...More info on site
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Nigeria: Guinness Nigeria Plc blames its first annual loss in at least 30 years on tough economic environment
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Guinness Nigeria Plc, the country’s second-biggest brewer, posted its first loss in at least 30 years as a downturn in Africa’s most populous nation
...More info on site
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Namibia: Namibia Breweries Limited reports 43.8% increase in annual profit after tax
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On September 16 Namibia Breweries Limited (NBL) announced its annual financial results that indicate profit after tax increased by 43.8 percent, mainly due to the deferred tax write-back in the current year, New Era reported.
As at December 01, 2015, Heineken South Africa had an unrecognised deferred tax asset amounting to N$1.6 billion. In 2013, the O&L Group recognised a full write-down of its portion (15.5 percent) of the deferred tax asset in Heineken SA (formerly known as DHN Drinks (Pty) Limited), amounting to N$188.1 million.
During the current year, after the restructuring of the South African operations, the directors considered that at year end, a portion of the N$1.6 billion assessed loss in Heineken SA is recoverable and therefore included an amount of N$89.2 million, being its share of the deferred tax asset included in the Heineken South Africa (Proprietary) Limited accounts.
Overall, NBL delivered excellent results for 2016, growing operating profit and Namibian beer volumes by 6.7 percent and 8 percent respectively. Turnover is down by 0.3 percent and is mainly impacted by volume migration to South Africa.
As a result of the volume migration, volumes shipped to RSA were down 43 percent over the comparative period, in order to efficiently utilise
...More info on site
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Brazil: Kirin Holdings begins partnership negotiations to turn around its Brazilian business
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Japan's Kirin Holdings began negotiating with three peers on September 20, seeking an ally to help turn around its foundering Brazilian beer operations, Nikkei
...More info on site
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Venezuela: Cost of beer production up by 6,500 percent because of lack of resources and federal minimum wage increase
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The National Federation of Distillers of Venezuela has attributed a 6,500 percent increase in the cost of beer production to a lack of resources and a federal minimum wage increase, UPI.com reported on September 19.
In many Venezuelan states, the price for a case of beer has nearly tripled since April, according to Franklin González, president of the distillers group, El Tiempo reports.
Venezuelan brewers import large quantities of raw materials to make beer, and the introduction of a new currency exchange system earlier this year, as well as President Nicolas Maduro's most recent minimum wage increase of 50 percent in August, have caused the cost of producing beer to skyrocket - meaning prices have also gone up.
"Sales are down 70 percent to 80 percent in some places and that's terrible for all of us," Gonzalez said.
One of Venezuela's most famous rums, Cacique, is cheaper than its volume-equivalent in beer. Gonzalez said retailers that once sold more than 100 cases of beer a week are now selling less than 15. At least 30 liquor stores have closed since Maduro's latest minimum wage increase, Gonzalez added.
Venezuela's economic crisis, which was exacerbated by a decrease in oil prices, has led to a shortage of
...More info on site
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Nigeria: Guinness Nigeria receives $95 mln loan from parent Diageo to cope with dollar shortages
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Guinness Nigeria said on September 21 that it had received a $95 million loan from parent Diageo to help it cope with dollar shortages in the West African country caused by a slump in crude prices, Reuters reported.
Chief finance officer Ronald Plumridge said the company's currency needs were much bigger than it was able to source locally and from its exports and so Diageo had stepped in with the loan.
The loan was priced at 3-month Libor plus 4.75 percent, he said.
Nigeria is in recession due to a slump in oil prices, which has hurt its currency and government revenues.
In June, the central bank floated the naira to try to resolve the dollar shortage and to preserve its dwindling foreign reserves. The naira lost a third of its value after the float.
"Longer term we intend to source raw materials locally," Plumridge told an analysts' call. "The mix of the business, FX impact and inflation, put pressure on the growth."
Guinness Nigeria on September 20 recorded a pretax loss of 2.35 billion naira for 2016, its first loss in 30-years, hit by declining sales, dollar shortages and domestic inflation running at 11-year high of 17.6 percent.
It said it would cut its total dividend
...More info on site
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UK: Diageo said to be reviewing staff levels in order to make savings of £500 mln
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Diageo is said to be reviewing staff levels as it works to make savings of £500 mln, with speculation mounting that jobs may be cut from its London HQ and global operations team, The Drinks Business reported on September 20.
The world’s largest drink producer is currently in the middle of a three year productivity drive to make savings of £500 mln by 2019, cutting overheads with the intention of reinvesting two thirds of the savings into other areas of the business.
Around 1,500 members of staff are currently based at Diageo’s London offices. While some reports have speculated that as many as a quarter of those jobs could be at risk, the number of jobs that could be cut, if at all, has not been confirmed.
When approached by the drinks business, a Diageo spokesperson said: “We announced last year that we would deliver a productivity programme over the three years ending fiscal 2019. This covers all aspects of how we run our business, as we continue to become more efficient and invest behind growth. As you would expect our employees will be the first to hear about any proposed changes to our structure.”
In addition to job cuts at its London headquarters,
...More info on site
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USA: Guinnes & Co. releases two limited-time beers from The Brewers Project
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A long-time favorite recipe in Belgium and a small batch ale originally brewed as a holiday gift for a lucky few outside of the Open Gate Brewery led to the two latest Guinness & Co. releases from The Brewers Project: Guinness Antwerpen Stout and Guinness Rye Pale Ale, Yahoo Finance reported on September 20.
For a limited time, the two new beers join a growing Guinness lineup that has recently welcomed additions such as Guinness Blonde American Lager and Guinness Nitro IPA conceived by the experimental brewery within St. James's Gate.
Guinness Antwerpen Stout was brewed for the first time in 1944 for its namesake: the Belgian city of Antwerp. Though known by a different name – Guinness Special Export – it's still a fan favorite in the European city. The beer won everyone over with its intense roasted malt, smoked wood, raisin and licorice notes and its sweet smells of bittersweet chocolate, coffee and a touch of black currant. In fact, even the brewers within St. James's Gate have been known to line up for a few bottles before the beer makes its way to Belgium.
"It's been more than 70 years since we first exported the Antwerpen Stout from Dublin
...More info on site
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Ireland: Heineken confirms some of its products were mislabelled and sold as craft beer in Ireland
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Heineken Ireland has confirmed that a number of its products have been mislabelled and sold as craft beer at various locations around the country, The Drinks Business reported on September 20.
The Irish branch of the Dutch brewing giant said that some of its “low-volume high-quality draught products” had been sold at a number of pubs under the guise of local craft beers, something which the company has confirmed has stopped now.
This means that when somebody ordered a local craft ale they were actually getting a drink from Heineken’s portfolio, which includes the likes of Desperados, Tiger, Fosters, Coors Light, Fosters, Sol, Amstel Radler, Beamish Stout and Murphy’s, among others.
“We apologise to our valued consumers and customers. This should not have happened. Heineken Ireland has appointed an external firm to investigate and help us understand how this occurred and to prevent it happening again,” a statement said (via News Talk).
The report states that an external investigation is now being carried out by the financial services advisory firm, Grant Thornton. This process began several weeks ago and so far it is unconfirmed as to whether any Heineken employees were aware of what was happening.
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Barley News
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World: Global barley production seen 3 mln tonnes down this year
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The average IGC/UkrAgroConsult/Agreste estimate of the world production of all grains is 2.069 bln tonnes (last year – 2 bln), of which wheat 743
...More info on site
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EU: The EU Commission expects new barley crop to total 59 mln tonnes
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The EU Commission corrected its S/D balance, the new crop estimate is 59 mln tonnes, exports 8.0 mln tonnes of barley and malt combined,
...More info on site
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Whisky News
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USA & Canada: Diageo to combine its US and Canadian spirits divisions
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Diageo is to combine its US and Canadian spirits divisions as part of a North American shake-up at the company, it said on September 20.
US spirits president Tom Looney will expand his responsibilities to include Canada, the group said. Current Diageo Canada head Jakob Ripshtein will continue in his other role as Diageo North America CFO, while Peter Kourtis will continue to lead Canada sales as GM.
Meanwhile, Looney will take over the helm of National Accounts and central commercial support activities from Jeff Ivey, who will retire in June next year.
Deirdre Mahlan, president for Diageo North America, said: "In Canada, the changes we are making to our structure and reporting lines are designed to strengthen this important business leveraging our North America resources more fully."
Mahlan praised Ivey's career, saying he had helped shape the company's commercial execution. "Jeff is known as a thoughtful, strategic leader whose experience has helped him navigate the complexities of our industry in ways that have helped move our business forward, especially with regard to distributor alignment," she said.
Diageo is undergoing a cost-cutting drive as it looks to continue a recent turnaround in fortunes. A media report at the weekend claimed that the company is set
...More info on site
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