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E-Malt.com Newsletter 35b
August 31 - September 03, 2017
Quote of the Week
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Ayn Rand
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Currency Rates
Base Currency: US Dollar
on September 01, 2017 |
Base Currency: Canadian Dollar
on September 01, 2017 |
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1 USD = 0.8415 EUR
1 USD = 0.7748 GBP
1 USD = 1.2579 CAD
1 USD = 1.2635 AUD
1 USD = 110.3200 JPY
1 USD = 3.1531 BRL
1 USD = 58.5454 RUB
1 USD = 6.5939 CNY
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1 CAD = 0.7949 USD
1 CAD = 0.6159 GBP
1 CAD = 0.6689 EUR
1 CAD = 1.0043 AUD
1 CAD = 87.6900 JPY
1 CAD = 2.5063 BRL
1 CAD = 46.3083 RUB
1 CAD = 5.2413 CNY
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Currency Rates Chart
Equities of the Largest Breweries
Canada: Statistics Canada expecting drop in wheat, barley, canola production this year
...Click here
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Canada, ON: Brick Brewing Co. to sell its Formosa facility
...Click here
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USA, WA: 47 Hops of Yakima bankruptcy may signal industry turbulence
...Click here
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USA, IL: Oswego Brewing Company on the verge of opening in Oswego
...Click here
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USA, VA: Brewing officially begins at Ballast Point’s Botetourt County facility
...Click here
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USA, CT: Cliffside Brewing owner applies for liquor permit
...Click here
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China: Tsingtao Brewery’s first-half profit up 7.4%
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Australia: Amount of alcohol available for consumption increases for the first time in nearly a decade
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China: Barley import could reach up to 8 mln tonnes this year
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Black Sea Region: Barley production expected to decline this year
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World: Carlsberg successfully places 6-year notes for EUR500 mln
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World: Craft movement was a huge gift for big brewers – Carlsberg marketing manager
...Click here
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India: Mahou San Miguel stresses on creating a beer-loving culture in India
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Australia: Carlton & United Breweries to reduce alcohol content in some of its mid- and low-strength beers
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UK: Molson Coors denies misleading customers over the strength of its Carling beer
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Bulgaria: Kamenitza sells land plot that used to be the site of its Plovdiv brewery
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Graph of the Week
Table of the Week
World's 40 Largest Breweries in 2016
Prices Evolution
Barley Prices
Theoretical Malt Prices
These Days in Business History
31 August
1895 - Thomas Edison patented his movie camera (Kinetograph)
1918 - Belgium starts paying old age pensions
1997 - Diana Spencer, princess of England, dies in car crash in Paris at 36
01 September
1905 - Alberta & Saskatchewan become 8th & 9th Canadian provinces
1923 - 7.9 earthquake strikes Tokyo & Yokohama, kills 142,000
1962 - UN announces Earth population has hit 3 billion
02 September
1930 - 1st non-stop airplane flight from Europe to US (37 hrs)
1941 - Film Academy copyrights Oscar statuette
1987 - Philips introduces CD-video
03 September
1778 - City Amsterdam signs trade agreement with U.S. rebels
1935 - 1st automobile to exceed 300 mph, Sir Malcolm Campbell (301.337 mph)
1967 - Sweden begins driving on right-hand side of road
Agenda
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)
28-30: Stockholm Beer & Whisky Festival 2017 (Stockholm, Sweden)
October 2017:
05-07: Stockholm Beer & Whisky Festival 2017 (Stockholm, Sweden)
16-17: 104 VLB October Convention 2017 (Berlin, Germany)
23-25: 8th Ibero-American VLB Symposium 2017 in Guatemala (Guatemala City)
26-28: drink technology India 2017 (New Delhi, India)
November 2017:
22-23: Craft Beer Italy 2017 (Milan, Italy)
More events are available on site e-malt.com
News Articles
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Canada: Statistics Canada expecting drop in wheat, barley, canola production this year
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Statistics Canada is expecting to see a drop in production in wheat, barley and canola crops this year, it said in its latest report.
Total wheat production is anticipated at 25.5 million tonnes, down 19.5 per cent from last year. This is due to a projected yield drop of 20.1 per cent.
Canola production is expected to drop by 7.1 per cent to 18.2 million tonnes despite a rise in acres. The decrease in production is being attributed to lower average yields in Alberta and Saskatchewan. Statistics Canada also revised last year's canola production number from 18.4 million tonnes up to 19.6.
Brian Voth, president of IntelliFARM Inc., says canola prices may react later in the season.
"Once you get past corn harvest, and everything's in the bin, and nothing needs to be moved anymore because of space reasons, that's when I think you're really going to start to see those prices react."
Canadian soybean production is anticipated to reach another record high this year (up 19.8 per cent from 2016 to 7.7 million tonnes) due to a large increase in acres. Soybean yields are expected to decrease 10.9 per cent from 2016.
Voth notes some of these numbers could change as we get further into
...More info on site
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Canada, ON: Brick Brewing Co. to sell its Formosa facility
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Brick Brewing Co. Limited, Ontario’s largest Canadian-owned brewery, announced on September 1 it has reached a definitive agreement to sell its Formosa facility for C$2.4 million. The transaction is expected to close in the current quarter. The sale represents the last step in the supply chain consolidation project that will allow Brick to realize C$600k of annual recurring savings, GlobeNewswire reported.
Mr. Zhang Haoliang, leader for the buying group, commented “The opportunity to acquire an operation with the history of Formosa was simply too attractive to pass up. The Formosa plant has a brewing history that dates back to 1870, and we look forward to growing the business to be a meaningful player in the exciting Ontario craft beer category and beyond.”
George Croft, President and Chief Executive Officer of Brick noted, “This is a tremendous outcome for all stakeholders. For Brick and our shareholders, we’re able to deploy sale proceeds towards our single source Kitchener facility. The buyer intends to continue to operate the brewery in Formosa, investing for the future and providing ongoing employment for the local community which is very good news.”
“In 2014 we completed the sale of our Waterloo facility, which took the company from three operating
...More info on site
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USA, WA: 47 Hops of Yakima bankruptcy may signal industry turbulence
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The bankruptcy of a Washington hop merchant may signal renewed turbulence in the hops market, with lower-than-expected demand for the crop raising oversupply concerns, Capital Press reported on August 30.
47 Hops of Yakima, Wash., has filed for Chapter 11 bankruptcy protection, which shields the company from creditors while it develops a restructuring plan to repay debts and remain operational.
The hop broker has more than $7.4 million in debt and $4.3 million in assets, according to the filing. In 2016, the company earned $10.6 million in revenues, up from $7.1 million the previous year.
Douglas MacKinnon, the company’s president, did not respond to a request for comment, but on 47 Hops’ website he blames the bankruptcy on slowed growth in the craft beer market.
“Unfortunately, during the past several years, brewers fueled by optimism contracted for more hops than they now need,” he wrote.
Some brewers have delayed paying for hops and taking delivery of the crop, saddling 47 Hops with a higher inventory and debt burden, according to MacKinnon.
Judging from USDA statistics, 47 Hops is not alone in this predicament.
Earlier this year, growers and dealers held hops stocks of 105 million pounds, three times the amount held by brewers, according to the agency.
To
...More info on site
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USA, IL: Oswego Brewing Company on the verge of opening in Oswego
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A new craft brewery is on the verge of opening in Oswego, the Chicago Tribune reported on August 30.
Three investors have plans to open the Oswego Brewing Company in the lower level of the old fire station on Main Street in the heart of downtown. The brewery is scheduled to open in 2018.
"We chose Oswego because we believe it is the perfect place to open a production brewery and taproom that will meet the needs of the local craft beer community," business partner Peter Rzeminski said.
The group is impressed by the crowds of people that attend the annual Brew at the Bridge held in September.
"There is a strong home brewing community in and around Oswego and there is a great love for craft beer," Rzeminski said.
The plans are to occupy 61 Main St. which faces the rear alley and parking lot. Owner Art Black renovated the building a couple of years ago and relocated his Oswego Cyclery shop to 59 Main St. from a storefront across the street. The bicycle shop occupies the second floor. Another tenant, Oswego Extreme, occupies 57 Main St.
The lower level has about 6,400 square feet. The taproom will occupy the largest space with seating to
...More info on site
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USA, VA: Brewing officially begins at Ballast Point’s Botetourt County facility
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Nearly two months after its grand opening, brewing has officially begun at Ballast Point in Botetourt County, WSLS reported on August 29.
While they're still in the early phases, workers said in a matter of months, they'll be making more beer there than anywhere else in the country.
"Start to finish, we'll be making beer from raw materials to the finished goods," Ballast Point Daleville brewing manager James Fox said.
From barley to brewing to bottling, it's all on tap at Ballast Point in Botetourt County.
"Finally got some beer into package as well, so [we] made some Grapefruit Sculpin six packs," Fox said.
They brewed their very first batch at the end of July. Now they're working to package that beer and ship it out.
"We’re shooting for this facility to be about 40 percent of Ballast Point's full production once things kind of get up and up to speed," Fox said.
To keep up, they've hired about 20 new employees, but plan to hire a total of about 175.
"When you can smell the aroma of the hops being boiled, I almost have a feeling of completeness," Ballast Point general manager Mike Alvarado said.
Alvarado says the response so far has been overwhelming.
"I’m hearing people say they're
...More info on site
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USA, CT: Cliffside Brewing owner applies for liquor permit
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A local craft beer enthusiast has applied for a liquor permit to open a new brewery on Center Street in Wallingford, Meriden Record-Journal reported on August 29.
David Durant, who brews beer at his home on Cliffside Drive, submitted an application to the state Department of Consumer Protection this month for a brewery at 16B Center St., less than a block away from Route 5.
Cliffside Brewing is expected to produce and sell a “wide range of beers,” including ales, wheat beers and fruit beers, Durant previously told the Record-Journal.
Durant didn’t want to comment on when the brewery will open.
In June, Durant said he had received a lot of interest in the new business and expected to open in mid to late July. He received approval from the Planning and Zoning Commission in January.
Durant founded Cliffside Brewing in his home about four years ago. He started by using apples from an apple tree in his yard to make hard apple cider. Cliffside Brewing will include a tasting room and an area for keg storage and brewing. Durant said he picked the location because of its visibility and foot traffic.
The brewery will open in a vacant storefront formerly occupied by a pawn shop.
“I
...More info on site
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China: Tsingtao Brewery’s first-half profit up 7.4%
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Tsingtao Brewery Co, China’s second largest beer maker, said on August 30 first-half profit rose 7.4 percent as it controlled costs and took measures
...More info on site
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Australia: Amount of alcohol available for consumption increases for the first time in nearly a decade
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The amount of pure alcohol available for drinking in Australia has risen for the first time in nearly a decade, thanks to a jump
...More info on site
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China: Barley import could reach up to 8 mln tonnes this year
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During Jan/June of this year China imported 4.52 mln tonnes of barley, the annual figure will certainly reach 7.0 – 8.0 mln tonnes, H.
...More info on site
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Black Sea Region: Barley production expected to decline this year
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Russia became the No. 2 wheat exporter of the world and is forecast to be No. 1 in the new campaign, H. M. Gauger
...More info on site
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World: Carlsberg successfully places 6-year notes for EUR500 mln
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Carlsberg Breweries A/S on August 30 successfully placed 6-year EUR notes for a principal amount of EUR 500 mln with a coupon of 0.5%, GlobeNewswire reported.
The notes have been issued under the company’s Euro Medium-Term Notes (EMTN) programme and will be listed on the Luxembourg Stock Exchange.
The proceeds of the offering will be used for general corporate purposes, including repayment of the EUR 1 bln notes maturing on 13 October 2017.
Nordea, MUFG and Société Générale acted as active bookrunners.
CFO Heine Dalsgaard says: “As part of our prudent financial policy, we are taking the opportunity to utilise the current market conditions to lock in attractive interest rates and extend the maturity profile of our debt. We're pleased with the high investor interest in the notes issue and consider it evidence of trust in our focus on improving profitability and cash flow.”
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World: Craft movement was a huge gift for big brewers – Carlsberg marketing manager
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The world’s major brewing companies have been falling over themselves to snap up hip craft breweries, and changing consumer tastes do not, on the surface, seem to bode well for mass-market lager brands.
But Rasmus Bendtsen, international marketing manager at Carlsberg, sees the situation differently. "The craft movement that came was a huge gift for big brewers," he tells Campaign.
"It seems like the big international breweries have been competing on who can be the most superficial. Superficial values – Formula One, fast cars, even fast women – rich guys, product in their hand, smiling. It’s a portrait that a rich life is also a happy life.
"And I think when the craft movement came in, it forced the big brewers to justify why the world needs them. The small brewers are so passionate, they talk with pride, they don’t have money to do big sponsorships, so they have to be sincere, they have to make real stories.
"So in a way I think it was a huge gift right, because if you look at the history of Carlsberg, it’s basically been democratising beer."
This isn’t just marketing spiel – it refers to the decision by Carlsberg founder JC Jacobsen in the late 19th century
...More info on site
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India: Mahou San Miguel stresses on creating a beer-loving culture in India
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Entering the Indian market in August 2012 and taking a leap in the internationalisation strategy in 2014, the Mahou San Miguel established the first international subsidiary of the firm, today known as Mahou India. Internationalisation is one of the strategic cornerstones of Mahou San Miguel for the development of its business. The firm produces more than 70% of Spanish beer consumed worldwide, and has presence in 70 countries. HospitalityBizIndia reporter Kathryn B K spoke to Fernando Bustamante, recently appointed CEO of Mahou India to learn about how different is India market from Spain and what would be his approach towards this growing market.
A Spanish-owned family company and market leader in Spain with a production share of 34%, Mahou San Miguel’s history dates back to more than 125 years. India is a 100% subsidiary of this Spanish brewing major and is the first country for Mahou San Miguel where it has a fully owned subsidiary outside Spain. The company has its brewery located in Bhiwadi, Rajasthan and it is one of the eight breweries it operates in, seven of which are in Spain. It is headquartered in Gurgaon, Haryana.
Coming from Spain, Bustamante has been leading on and off trade business
...More info on site
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Australia: Carlton & United Breweries to reduce alcohol content in some of its mid- and low-strength beers
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Carlton & United Breweries (CUB) has said it is aiming to meet the growing demands of consumers who want to moderate their drinking, by reducing the ABV in some of its mid and low-strength beers, The Shout reported on September 1.
Carlton Mid, Cascade Premium Light and VB Gold, will all see their ABV reduced, although the brewer has said it has no plans to alter the strength of its mid-strength juggernaut Great Northern.
A CUB spokesperson said the decision was made to go ahead with the lower ABV beers when the brewers said they could make the change without impacting flavour.
“We have heard from consumers that for many low and mid-strength beer drinkers the alcohol content is less important than the flavour of the beer and its value. Our brewers are now able to reduce the alcohol by volume of these beers without compromising flavour, while continuing to offer consumers good value for money.”
The reduction of the ABV will mean the brewer can negate the impact of the CPI increase on beer and keep offering these popular products at a value price-point.
The changes will see Carlton Mid go from 3.5 per cent to 3.0 per cent, Cascade Premium Light will reduce
...More info on site
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UK: Molson Coors denies misleading customers over the strength of its Carling beer
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Molson Coors has hit back at claims it has misled customers over the strength of its flagship lager brand, Carling, The Morning Advertiser reported on August 30.
The brewing giant issued a statement calling out recent media reports that Carling had been reduced from 4% ABV to 3.7% in 2012 to save on duty as “inaccurate”.
Last week, The Morning Advertiser's sister title The Grocer reported that Molson Coors had won an appeal against an HMRC claim that it owed more than £50 mln in unpaid duty in February and March of this year.
The company won the appeal by arguing it did not need to pay the tax due to a reformulation switch to manufacture Carling at a lower ABV of 3.7%, according to the publication.
However, the beer continued to be advertised at an ABV of 4% to prevent customers “demanding a slice” according to the tribunal document.
A Molson Coors spokesperson said mass media coverage of the appeal “oversimplified what is a complex and technical topic” and contained “factual inaccuracies”. However, the brewer would not specify what those inaccuracies were.
“A specialist tribunal took place to provide definitive legal opinion on the correct interpretation of complex and technical UK and EU legislation,” the
...More info on site
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Bulgaria: Kamenitza sells land plot that used to be the site of its Plovdiv brewery
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Bulgarian brewer Kamenitza, part of U.S.-based Molson Coors Brewing Company, said on August 31 it has sold 30,500 sq m of land in the central part of Plovdiv city to two local companies which plan to develop a mixed-use construction project there, SeeNews reported.
The two firms, SI Investment and SI Development, plan to build an urban development that will comprise office and residential areas, a hotel, sports centre and retail outlets on the purchased site, Kamenitza said in a statement without disclosing the value of the deal.
Construction works on the project should start in 2018 and be completed in 2023. The project will open about 500 jobs.
The plot of land in Bulgaria's second largest city used to be the site of a Kamenitza brewery. In 2015 the company decided to relocate production to its other brewery, in the city of Haskovo, some 90 km southeast of Plovdiv.
Kamenitza will retain ownership of an adjacent 3,500 sq m plot of land on which it plans to build a multifunctional development comprising a craft beer microbrewery and a museum. Construction works on project, in which Kamenitza plans to invest 2 million euro ($2.15 million), will start in September and
...More info on site
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Bulgaria: Carlsberg Bulgaria names new CEO
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The Bulgarian unit of Danish brewer Carlsberg said on August 30 it has appointed Denis Sherstennikov as its new CEO, SeeNews reported.
Sherstennikov is taking over from Dejan Beko who will manage Olympic Brewery in Greece, Carlsberg Bulgaria said in a press release.
"Carlsberg's business in Bulgaria has grown considerably in recent years, but we are going to take on a number of key activities and innovations which will move the company forward," Sherstennikov said in the statement.
Prior to the new appointment, Sherstennikov was a CEO at Olivaria Brewery in Belarus.
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