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E-Malt.com Newsletter 19a
May 08 - May 10, 2017
Quote of the Week
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Booker T. Washington
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Currency Rates
Base Currency: US Dollar
on May 10, 2017 |
Base Currency: Canadian Dollar
on May 10, 2017 |
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1 USD = 0.9170 EUR
1 USD = 0.7729 GBP
1 USD = 1.3704 CAD
1 USD = 1.3591 AUD
1 USD = 113.6700 JPY
1 USD = 3.1923 BRL
1 USD = 58.5382 RUB
1 USD = 6.9057 CNY
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1 CAD = 0.7296 USD
1 CAD = 0.5639 GBP
1 CAD = 0.6690 EUR
1 CAD = 0.9916 AUD
1 CAD = 82.9300 JPY
1 CAD = 2.3291 BRL
1 CAD = 42.5488 RUB
1 CAD = 5.0384 CNY
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Currency Rates Chart
Equities of the Largest Breweries
Canada, ON: Signal Brewery aims at June 17th opening in Corbyville
...Click here
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USA, CA: Anchor Brewing confirms construction of second brewery still ‘in early stages’
...Click here
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Canada, ON: Kensington Brewing Company almost ready to shift to own bricks-and-mortar location
...Click here
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USA, MI: Arbor Brewing Company to be sold to owners of the Neapolitan-style pizza company Bigalora - report
...Click here
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USA, OH: Y Bridge Brewing Company less than a month away from opening
...Click here
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Mexico: Mexico surpasses Germany as the world’s fourth largest beer maker
...Click here
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Vietnam: Carlsberg’s negotiations over additional Habeco stake ‘hot, complicated, and cumbersome’ - CEO
...Click here
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Brazil: Brazil’s antitrust authorities approve Heineken’s purchase of Brasil Kirin
...Click here
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Philippines: San Miguel Brewery's net profit rises 12% in Q1
...Click here
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Mexico: Grupo Modelo opens its eighth brewery in Mexico
...Click here
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France: Projected barley ending stocks to total 993 thousand tonnes this season
...Click here
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Ethiopia: Habesha Brewery makes net profit of 32 mln birr last year
...Click here
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World: Diageo stands by medium-term sales and profit targets
...Click here
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Australia: Pulses eclipse barley as Australia’s second-biggest value grain crop
...Click here
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Germany: Development of hops in the fields currently delayed by frost periods until this month
...Click here
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UK: Diageo ordered to pay £107 mln in extra tax as part of profit moving investigation
...Click here
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Kenya: Brewers of beer made from sorghum, cassava, and millet to benefit from excise duty reductions
...Click here
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Sierra Leone: Sierra Leone Brewery’s new expansion project to double its production capacity
...Click here
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South Africa: Amstel marketing manager confident of the brand’s positive future in South Africa
...Click here
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India: Supreme Court finds Vijay Mallya guilty of contempt of court
...Click here
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Graph of the Week
Table of the Week
German Beer Market Overview
Prices Evolution
Barley Prices
Theoretical Malt Prices
Scientific Digest
WHAT IS THE AROMA POTENTIAL OF SPENT HOPS?
ABSTRACT
This question was asked by this US research team.
They tested several enzymes as well as a lager and
an ale yeast in an aqeous extract of spent hops of 18
different hop varieties. Aqueous extracts of spent hop
material (50 g/L) were shown to contain less than 1 g/L
(0.1 degrees Plato) of fermentable carbohydrates. They found that
slight increases in monoterpene alcohol concentrations
are influenced by the non-oil components present in
hops. So it is clear that aglycones are indeed liberated
from glycosides upon treatment with exogenous
enzymes. However the overall contribution of
glycosides to conventionally hopped beers should not
be overstated. Dosage rates used in this study were
10 to 50 times higher than those typically used in
brewing, yet only modest increases toterpene alcohol
concentrations were observed.
Sharp, D.: Examination of Glycoside Hydrolysis Methods for the Determination of Terpenyl
Glycoside Contents of Different Hop Cultivars
Read more
Source: Barth Innovations
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These Days in Business History
08 May
1888 - George Eastman patents "Kodak box camera"
1899 - Friedrich August von Hayek is born in Vienna (Nobel Prize in economics in 1974)
1929 - John Clifton Bogle, future founder of the Vanguard Group of Investment Cos., is born in Montclair, N.J.
09 May
1785 - British inventor Joseph Bramah patents beer-pump handle
1886 - At the soda fountain of Jacob's Pharmacy in Atlanta, Dr. John S. Pemberton sells the first glass of Coca-Cola, his new "tonic" beverage
10 May
1837 - As New York banks suspend payment of loans in specie (gold coins), the Panic of 1837 begins - setting off the deepest economic depression the United States will suffer until 1929
1869 - The First Transcontinental Railroad, linking the eastern and western United States, is completed at Promontory Summit, Utah (not Promontory Point, Utah) with the golden spike
1950 - The Digital Age takes a huge leap forward. At the National Physical Laboratory in the British village of Teddington, Alan Turing's Pilot Model Advanced Computing Engine (ACE), one of the world's earliest general-purpose electronic computers, runs its first program
1975 - Sony introduces the Betamax videocassette recorder in Japan
Agenda
May 2017:
14-18: EBC 2017 (Ljubljana, Slovenia)
16-19: Beer 2017 (Sochi, Russia)
18-20: Copenhagen Beer Festival 2017 (Copenhagen, Denmark)
25-27: South Beer Cup 2017 (Buenos Aires, Argentina)
June 2017:
06-07: Brewing Equipment and Technology 2017 (Birmingham, UK)
11-13: Brewing Conference Bangkok 2017 (Bangkok, Thailand)
14-18: Mondial de la Biere 2017 (Montreal, Canada)
July 2017:
08: Beer Boot Camp 2017 (Johannesburg, South Africa)
15: Beer Boot Camp 2017 (Cape Town, South Africa)
26-28: Brasil Brau 2017 (Sao Paulo, Brazil)
August 2017:
04-06: The 21st International Berlin Beer Festival (Berlin, Germany)
08-12: The Great British Beer Festival 2017 (London, UK)
09-12: Vietfood & Beverage 2017 (Ho Chi Minh City, Vietnam)
September 2017:
03-06: 18th Australian Barley Technical Symposium (Hobart, Tasmania)
07-09: Irish Craft Beer Festival 2017 (Dublin, Ireland)
11: International MicroBrew Symposium 2017 (Munich, Germany)
11-15: drinktec 2017 (Munich, Germany)
16-03 October: Oktoberfest (Munich, Germany)
23-24: Whisky Live Paris 2017 (Paris, France)
October 2017:
16-17: 104 VLB October Convention 2017 (Berlin, Germany)
23-25: 8th Ibero-American VLB Symposium 2017 in Guatemala (Guatemala City)
November 2017:
22-23: Craft Beer Italy 2017 (Milan, Italy)
More events are available on site www.e-malt.com
News Articles
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Canada, ON: Signal Brewery aims at June 17th opening in Corbyville
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A new brewery located in the former home of one of Canada’s longest running alcohol companies has announced that it will be launching next month, Canadian Beer News reported on May 8.
Founded by local entrepreneur Richard Courneyea, Signal Brewery is located at 87 River Road in Corbyville – a town now part of the city of Belleville – in a set of buildings that once housed the Corby Distillery.
Signal will be opening on Saturday June 17th with an open house from 12:00 noon to 5:00 PM, followed by a party starting at 7:00 PM with a live performance by Bruce Springsteen cover band Tommy Youngsteen.
Brands planned to be available for the launch include Radio Tube (“not too complex or too hoppy, but very delicious”), Wave (“a juicy beer […] that has this amazing fruity fragrance”), Ohm (“tasty, easy drinking beer”), and Byte (“a very hoppy IPA”).
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USA, CA: Anchor Brewing confirms construction of second brewery still ‘in early stages’
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More than four years ago, Anchor Brewing announced plans to open a second brewery on San Francisco’s Pier 48 as part of the $1.6 billion Mission Rock Development project. But plans for the new facility have seemingly gone adrift and Anchor’s involvement in the redevelopment initiative is now in question, Brewbound reported on May 9.
The long-established San Francisco beer company last week released a statement saying the project was “still in the early stage of development.”
“Anchor Brewing continues to work with the Giants on the Mission Rock/Pier 48 Project with the aim to build a brewery on the pier,” the brewery announced. “The process is complex and still in early stage development. Fortunately, time is on our side through further brewing efficiencies achieved at the Potrero Hill facility which has given us plenty of breathing room for production capacity.”
As of press time, brewery officials had not returned messages from Brewbound seeking further clarification on the adjusted Pier 48 building timeline or the “brewing efficiencies” the company has said it achieved at its existing Potrero Hill plant.
Initial plans had called for Anchor to begin construction on the Pier 48 brewery in late 2014 with buildout expected to be completed by late
...More info on site
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Canada, ON: Kensington Brewing Company almost ready to shift to own bricks-and-mortar location
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After more than five years of planning, delays, and long-running construction, Kensington Brewing Company (KBC) is finally on the cusp of shifting from contract brewing to its own bricks-and-mortar location, Canadian Beer News reported on May 9.
As reported by NOW Magazine, the KBC facility at 299 Augusta Ave. in Toronto’s Kensington Market neighbourhood is expected to open at the end of May, with vice president of operations Michael Gurr telling NOW that the brewery will “introduce new pale ale, sour and saison styles” alongside the core Augusta Ale, Fisheye IPA, and Market Pils brands.
Once open, KBC will feature a retail store and 40 seat taproom, with a 20 seat patio planned for later in the summer. Food will include charcuterie boards from nearby Sanagan’s Meat Locker, sandwiches, and other cold snacks.
The article also notes that two other brewery projects are planned for the area, with Collective Arts rumoured to have taken over the former Zimmerman’s Freshmart space at 241 Augusta Ave., and Michael Duggan of Duggan’s Brewery set to oversee a small brewing operation at B2B (Beer to Beer) at 319 Augusta Ave. The latter is coincidentally in the former home of Burger Bar, the restaurant where where owner Brock
...More info on site
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USA, MI: Arbor Brewing Company to be sold to owners of the Neapolitan-style pizza company Bigalora - report
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A deal is in the works for the owners of the Neapolitan-style pizza company Bigalora to buy the Arbor Brewing Company's entire US operation, the Detroit Metro Times reported on May 8.
The latter runs the ABC BrewPub in Ann Arbor, the ABC Microbrewery (formerly The Corner Brewery) in Ypsilanti, and distributes statewide. It also has a small stake in a brewery in Bangalore, India, but that doesn't appear to be part of the sale.
A Bigalora spokesman said the deal isn't finalized, though an announcement is planned for later this week. He stressed that it doesn't involve the Livonia-based Bigalora company, but its owners "who own a number of other brands/companies across multiple industries, [and] will also soon own ABC." He declined to comment further until the announcement is ready, and it isn't clear whether ABC owners Matt and Rene Greff are selling all of the company, or a controlling stake.
The Greff's motivations for selling also aren't known, and Rene Greff couldn't be reached immediately for comment.
In February 2015, we wrote about the multilevel controversy over ABC's decision to launch a crowdfunding campaign to raise $75,000 for a build out of the Microbrewery's kitchen. Customers and others in the
...More info on site
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USA, OH: Y Bridge Brewing Company less than a month away from opening
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The Y Bridge Brewing Company is less than a month away from opening their doors for business in Zanesville, WHIZ reported on May 5.
Owner Ray Ballard has already sterilized his equipment and started brewing beer for his opening day on Saturday May 27, 2017. Ballard said it’s been a long time coming but he’s ready to open his brewery at noon so people can start trying his five types of beer.
“It’s relieving, overwhelming, stressful, fun, it’s a kaleidoscope of emotions,” Ballard said. “A lot of things have gone wrong, certainly nothing has gone according to plan, but somehow it’s all worked out. Now we’re here and we got 60 barrels fermenting, we’re making 40 more this weekend and we’ll be well stocked for the grand opening. 21
Ballard said he’ll be serving a light blonde ale called ‘Y Not’, an I.P.A. called ‘Y.P.A.’, a double I.P.A. called ‘Double Y’d’, a cherry stout, and a big brown ale for people to try.
“We’re planning five core beers that are going to go out the door in 32 ounce cans,” Ballard said. “We Brewed our first batch on Sunday [April 31, 2017], we brewed again on Wednesday [May 3, 2017], Thursday [May 4, 2017],
...More info on site
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Mexico: Mexico surpasses Germany as the world’s fourth largest beer maker
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Mexico reached production of 105 million hectolitres of beer in 2016 making it the fourth largest producer worldwide, beating leading countries like Germany, according
...More info on site
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Vietnam: Carlsberg’s negotiations over additional Habeco stake ‘hot, complicated, and cumbersome’ - CEO
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Carlsberg CEO Mr. Cees’t Hart said during the brewer’s first quarter 2017 trading statement’s conference call on May 4 that negotiations with the Ministry
...More info on site
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Brazil: Brazil’s antitrust authorities approve Heineken’s purchase of Brasil Kirin
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Brazil’s Administrative Council of Economic Defense (CADE) has approved the purchase of Brasil Kirin by Heineken, ESM reported on May 8.
The Brazilian antitrust authority ruled that the operation, announced in February, does not generate competitive concerns, reported daily O Estado de Sao Paulo.
In its ruling, CADE stated that the acquisition does not cause concentration greater than 20% in the national market nor more than 50% in regional markets.
Brazilian brewery and beverage company Brasil Kirin owns the Devassa, Schin, Baden Baden, Cintra and Glacial beer brands and is also active in the sector of soft drinks and mineral water.
Heineken, which has five breweries in Brazil, paid R$ 2.2 billion (€32.9 million) for Brasil Kirin’s network of 12 factories.
With Kirin, Heineken now becomes the second largest brewer in the country (behind Ambev) with 19% of the national market, according to figures from research company Canadean.
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Philippines: San Miguel Brewery's net profit rises 12% in Q1
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San Miguel, the Philippines' largest company by sales, said on May 10 its net income grew by only 2% in the first quarter, dampened
...More info on site
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Mexico: Grupo Modelo opens its eighth brewery in Mexico
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AB InBev’s Grupo Modelo officially opened its eighth plant in Mexico on May 9, where it will produce 7 million hectolitres of beer annually,
...More info on site
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France: Projected barley ending stocks to total 993 thousand tonnes this season
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FranceAgriMer has trimmed slightly the country’s projected barley ending stocks at the close of the 2016/17 season to 993,000 tonnes, mostly due to an
...More info on site
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Ethiopia: Habesha Brewery makes net profit of 32 mln birr last year
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Habesha Brewery S.C., one of the beer brewing companies in Ethiopia, disclosed it made a net profit of 32 million birr last year. This
...More info on site
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World: Diageo stands by medium-term sales and profit targets
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Diageo, the world's largest spirits company, stood by its medium-term sales and profit targets on May 8, saying the year has progressed well, Reuters reported.
The maker of Smirnoff vodka and Johnnie Walker Scotch said it still expected mid-single digit revenue growth and a 100 basis point improvement in its operating margin, excluding any impact of acquisitions or divestitures, in the three years ending fiscal 2019.
The comments came ahead of an investor conference the company will host in London on May 9.
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Australia: Pulses eclipse barley as Australia’s second-biggest value grain crop
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Pulses have eclipsed barley’s long-held place as Australia’s second-biggest value grain crop, 2016-17 Australian winter crop production figures show.
According to a report by the Grain Central on May 9, a repeat performance is highly likely in 2017-18, as world cereal prices fail to excite.
According to Avant Agri co-principal, Malcolm Bartholomaeus, the switch out of barley has been inevitable for some years, and mirrors a trend set by traditional major world barley producer and exporter, Canada.
“This change has been a long time coming. Canada realised it was not economic to grow feed barley to deliver into the export market; they could not put it on a train, send it to port, get it to an overseas destination and make any money from it,” Mr Bartholomaeus said.
“The reality is Australia can’t either. It can’t grow feed barley to tip into a world market that pays what they do for feed grains in general and feed barley in particular.”
Canada over 20 years has built a world’s-best lentil and canola export industry which has switched profitability in former barley areas, particularly in remote western Canada.
The parallel with inland plains country in eastern Australia cannot be lost; these are areas which pay high
...More info on site
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Germany: Development of hops in the fields currently delayed by frost periods until this month
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Most of the winter 2016/2017 was very dry and warmer than long-term average in Germany, HVG reported on May 10. Only in January 2017 there were some severe ground frosts. These were very rare in the last three years, though they are essential for a good soil structure.
In March 2017, temperatures were quite high for springtime; As a consequence, this was the warmest March since weather recording began. All initial work in the hop fields could be finished very early in the year.
As of mid-April the weather situation changed considerably with very low temperatures. In all German hop growing regions there were frost periods until May with lowest temperatures being -5 degrees Celcius. In consequence, the development of hops is currently delayed. Training of the hops has not yet been finished as day temperatures are considerably below average for May. Whereas in the Hallertau and Tettnang growing regions precipitation was plentiful, in Elbe-Saale it continues to be too dry.
The weather conditions as described above have slowed down the development of the hops; this does not, however, give any indication on further development as the decisive months of July and August are yet to come. With favorable conditions as of July,
...More info on site
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UK: Diageo ordered to pay £107 mln in extra tax as part of profit moving investigation
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Diageo has been ordered to pay £107 mln by the UK tax authority as part of a long-running investigation into moving profit between its global businesses, BBC News reported on May 10.
The drinks giant said that under the new Diverted Profits Tax regime, HMRC will ask for more tax and interest for the past two financial years.
Diageo said it would challenge the HMRC's assessment.
However, the company said it will have to pay £107 mln then work with HMRC to resolve the issue.
Diageo, which owns brands including Johnnie Walker whisky and Tanqueray gin, said: "The payment of this sum is not a reflection of Diageo's view on the merits of the case and, based on its current assessment, Diageo considers no provision is required in relation to Diverted Profits Tax."
The company does not expect the situation to have an effect on its tax for the current financial year to June, and expects the rate to be 21%.
The dispute centres on profits that have been moved between the UK and the Netherlands.
The Diverted Profits Tax regime was introduced in 2015 and levies a 25% charge on taxable profits that have been diverted from the UK.
The company said: "Diageo does not believe that
...More info on site
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Kenya: Brewers of beer made from sorghum, cassava, and millet to benefit from excise duty reductions
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Kenya’s manufacturers of beer made from sorghum, cassava, millet and any other agricultural product will soon benefit from excise duty reductions, KDR TV reported on May 10.
This was made possible after Treasury on May 8 published new regulations streamlining the Excise Duty Act with the Tax Procedures Act 2015, granting beer manufacturers an 80 per cent remission in excise duty.
The excise duty cutback, which was repealed in the Finance Act 2016, was previously contained in the Alcoholic Drinks Control Act 2015 (Section 68A) at the rate of 90 per cent, but has now been fully reintroduced, giving Treasury Cabinet Secretary Henry Rotich powers to grant duty remission in the specified beer categories.
“Beer made from barley will, however, not benefit from the excise duty reductions,” read the regulations titled Excise Duty Regulations 2017 in part.
Treasury also moved to restructure the Excisable Goods Management System (EGMS) where all excisable goods, save for motor vehicles, would now be required to be affixed with excise stamps.
The regulations, unlike previously, clearly spell out various stamp fees for different categories of excisable goods.
The new rules stipulate offences whereby manufacturers who will be found with excise stamps without Kenya Revenue Authority (KRA) authority or with counterfeit stamps,
...More info on site
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Sierra Leone: Sierra Leone Brewery’s new expansion project to double its production capacity
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Sierra Leone Brewery Limited (SLBL), a HEINEKEN Operating Company, is investing in its production capacity to keep up with increase in demand. The investment once commissioned will double the annual capacity of the brewery to ensure that it can meet consumer demand and support the introduction of new product innovations to the Sierra Leonean market, The Patriotic Vanguard reported on May 6.
The latest expansion project includes a brew house upgrade and the installation of seven massive fermentation storage tanks.
When all of the new equipment is up and running in the upcoming months, the brewery will be able to more than double its annual production capacity. The timing of this expansion should allow the company to fulfil any potential increase in sales as a result of the implementation of the Finance Act 2016.
“Since 2015 the Sierra Leone Brewery Limited has invested approximately Le.150 billion in new equipment and additional storage space to increase capacity and improve efficiency. Last year we invested in a waste water treatment plant, and a mash filter equipment to enable us to use more sorghum in our production processes, enabling us to launch our new Salone Beer. In 2015, we invested in CO2 equipment and a cooling
...More info on site
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South Africa: Amstel marketing manager confident of the brand’s positive future in South Africa
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South Africa’s beer industry is an extremely competitive one, not only because of the plethora of established beer brands, but also due to the rise of smaller, independently owned craft breweries, the Financial Mail reported on May 9.
Amstel, part of the Heineken stable of beers, is a relatively small player in the SA beer market. According to Amstel marketing manager Khaya Dlanga, despite the growing popularity of craft beers and in the face of current market forces, Heineken brands are showing good growth.
Differentiating Amstel in this highly cluttered space is about “standing out and owning what no-one else can,” he says. To this end Amstel has its own story, which has resonated with South Africans since the brand first arrived in the country from Amsterdam: “Slow brewed and extra matured.”
The hallmark of the Amstel brand, when it was initially produced in Amsterdam, was the production of a better beer. “If making a beer taste better meant brewing it for longer, that is what we needed to do – and have continued to do,” says Dlanga.
Amstel has been finding ways to stand out in the market since then. It was, for example, the first beer to be produced
...More info on site
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India: Supreme Court finds Vijay Mallya guilty of contempt of court
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The Supreme Court on May 9 found Vijay Mallya guilty of contempt of court and directed him to appear in the court on 10 July for arguing on quantum of punishment in the matter, FirstPost reported.
The liquor baron, who owes Indian banks Rs 9,000 crore, has been living in London since March last year, and the Indian government is pressing with the UK government for his extradition. Mallya fled to UK on 2 March 2016 pre-empting his likely arrest in India in the case of money laundering allegations.
This week's order pertains to Mallya's disclosure of assets in the court. Earlier on 9 March, the court had asked the beleaguered but flamboyant businessman whether he had truthfully disclosed his assets before the court or not.
The Supreme Court bench comprising Justices A K Goel and U U Lalit had asked Mallya if he had been truthful after a consortium of banks led by the State Bank of India alleged that $40 million was transferred by Mallya to his three children in complete violation of the Karnataka High Court order
Moreover, the fact that $40 million was received by Mallya from a United Kingdom-based company Diageo PLC was not disclosed before the court here,
...More info on site
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