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E-Malt.com Newsletter 43b
October 25 - October 28, 2018
Quote of the Week
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Currency Rates
Base Currency: US Dollar
on October 26, 2018 |
Base Currency: Canadian Dollar
on October 26, 2018 |
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1 USD = 0.8777 EUR
1 USD = 0.7773 GBP
1 USD = 1.3050 CAD
1 USD = 1.4127 AUD
1 USD = 112.3000 JPY
1 USD = 3.7210 BRL
1 USD = 65.6287 RUB
1 USD = 6.9443 CNY
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1 CAD = 0.7662 USD
1 CAD = 0.5956 GBP
1 CAD = 0.6724 EUR
1 CAD = 1.0823 AUD
1 CAD = 86.0400 JPY
1 CAD = 2.8509 BRL
1 CAD = 50.2818 RUB
1 CAD = 5.3204 CNY
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Currency Rates Chart
Equities of the Largest Breweries
Canada: Most Alberta malting barley growers disappointed by this year’s crop
...Click here
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USA: Boston Beer Co. reports 24.2% increase in Q3 revenue
...Click here
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USA, NY: Braven Brewing Company opens its first brick and mortar brewey in Bushwick
...Click here
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USA, NC: Mills River Brewery to hold ground-breaking ceremony on October 28
...Click here
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USA, CA: AB InBev-owned Golden Road Brewing cancels plans to launch production facility in Oackland
...Click here
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World: AB InBev decides to cut dividend on weak Q3 profits
...Click here
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The Philippines: Philippines' San Miguel further trims F&B unit's IPO size, eyes $634 mln
...Click here
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India: Beer anti-trust probe triggered by AB InBev’s report to authorities - sources
...Click here
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Nigeria: Guinness Nigeria declares dividend of N4.03 bln for its shareholders
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Graph of the Week
Table of the Week
UK Hops Area, Yields, and Production 2016-2017
Prices Evolution
Barley Prices
Theoretical Malt Prices
These Days in Business History
25 October
1492 - Christopher Columbus and ship Santa Maria land in Dominican Republic
1952 - Tappan sells 1st microwave oven
1960 - 1st electronic wrist watch placed on sale, New York City
26 October
1952 - Chevrolet unveils V-8 engine
1954 - Walt Disney's 1st television program, "Disneyland", premieres on ABC
1956 - U.N.'s International Atomic Energy Agency statute approved
27 October
1969 - Nobel prize for economy awarded to John Tinbergen
1984 - Hepatitis virus is discovered
1997 - Intel Corp buys Digital Equipment for $700 million
28 October
1904 - St Louis police try a new investigation method - the fingerprints
1954 - Nobel prize for literature awarded to Ernest Hemingway
1986 - International Red Cross ousted from South Africa
Agenda
October 2018:
23-26: China Brew China Beverage 2018 (Shanghai, China)
24-26: drink technology India 2018 (Mumbai, India)
November 2018:
13-15: Brau Beviale 2018 (Nuremberg, Germany)
February 2019:
8-10: Finest Spirits 2019 (Munich, Germany)
8-11: HoReCa 2019 (Athens, Greece)
16-19: Beer Attraction 2019 (Rimini, Italy)
19-21: Beviale Moscow 2019 (Moscow, Russia)
March 2019:
5-7: Expo Antad & Alimentaria Mexico 2019 (Mexico City, Mexico)
13-16: Festival Brasileiro da Cerveja 2019 (Blumenau, Brazil)
15-17: Barcelona Beer Festival 2019 (Barcelona, Spain)
19-21: Beviale Moscow 2019 (Moscow, Russia)
27-29: 10th World Barley, Malt & Beer Conference (Warsaw, Poland)
April 2019:
8-11: Craft Brewers Conference & BrewExpo America 2019 (Denver, Colorado, USA)
More events are available on site e-malt.com
News Articles
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Canada: Most Alberta malting barley growers disappointed by this year’s crop
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Jeff Nielsen considers himself one of the lucky ones — he got all his barley off before winter-in-September weather arrived and knows it’s malt quality, the Alberta Express reported on October 24.
“If you got it off before all this crappy weather, you may have malt. If you still have barley now, it’s very doubtful that you have malt,” the Olds-area producer said earlier this month.
But Nielsen’s luck only goes so far. Malt prices are unlikely to go up much even though snow and rain will see a big chunk of the acres seeded to malt varieties downgraded to feed.
“By no stretch of the imagination is there as much good barley as last year,” said Kevin Sich, supply chain director with Rahr Malting.
However, Sich said he has secured sufficient supplies and although he doesn’t know about the situation of other malting companies, he’s not hearing of shortages.
“Saying we don’t have enough at the moment… I don’t know if that’s a fair statement right now until we wrap this harvest up.”
Part of that is because malting companies had good supplies from last year, said Jerry Klassen, manager of Canadian operations for Swiss-based GAP S.A. Grains and Produits.
“Last year’s crop was very high
...More info on site
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USA: Boston Beer Co. reports 24.2% increase in Q3 revenue
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Boston Beer Company reported on October 25 its 2018 third-quarter earnings results, which were highlighted by a 24.2 percent increase in net revenue, to $306.9 million.
The company — which makes the Samuel Adams, Angry Orchard, Twisted Tea, and Truly Spiked & Sparkling products — credited the revenue growth to a 23.5 percent increase in shipments during the quarter, which ended September 29.
The company shipped about 1.3 million barrels of product, it said via a press release. Through the first 39 weeks of the year, Boston Beer has shipped about 3.3 million barrels of beer, hard cider and flavored malt beverages — a 16 percent increase from 2017.
Boston Beer’s year-to-date depletions are up 13 percent, driven primarily by growth within its non-beer portfolio.
Meanwhile, Q3 depletions increased 18 percent versus 2017. The company credited its growth during the quarter to the continued success of its Truly, Twisted Tea and Angry Orchard brands, while sales of its Samuel Adams offerings continued to decline.
“We believe that the acceleration in our depletions growth is attributable to our key innovations, quality and strong brands, as well as sales execution and support from our distributors,” Boston Beer founder Jim Koch said, via a press release.
To help stoke
...More info on site
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USA, NY: Braven Brewing Company opens its first brick and mortar brewey in Bushwick
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Braven Brewing Company, a craft brewery based in Brooklyn, NY, recently opened its first brick and mortar brewery, bar, and restaurant in Bushwick at 52 Harrison Place, Brewbound reported on October 25.
Located steps from the Morgan Avenue L train subway stop, the 2,500 sf space includes an 18 seat bar and 40 seat dining area, a full service kitchen, and a custom manufactured, all-electric 3.5 barrel brewhouse.
Once home to over two dozen breweries, Bushwick was once a beer-producing powerhouse. Most of that tradition and history was lost after Prohibition, but Braven co-founders Marshall S. Thompson and Eric Feldman have long dreamt about being able to help restore the Bushwick brewing tradition. Now they are proud to be part of Bushwick’s brewing revival, along with a number of other craft breweries that have opened in the area in the past few years.
“Opening this brewpub is a monumental achievement for Braven,” says Braven co-founder and CEO Marshall Thompson. “Eric and I have worked for the past five years to make this happen, and we’re humbled and thrilled at the reception we’ve had from our friends and neighbors so far.”
Another thing that makes Bushwick so special to Braven is its community of
...More info on site
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USA, NC: Mills River Brewery to hold ground-breaking ceremony on October 28
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Mills River Brewery will turn the first bit of earth at the location of its new home Sunday, October 28, marking a new chapter for the young brewery that’s moving back to its roots in its namesake town, BlueRidgeNow.com reported on October 25.
Owners Patrick McCarthy and Joey Soukup announced on October 24 that a groundbreaking ceremony will be held at 3 p.m. on Sunday, October 28, featuring bottles of a commemorative beer brewed just for the occasion, Groundbreaker Autumn Ale, which will be given out while supplies last.
The town of Mills River rezoned the property in July, paving the way for the site at 331 Banner Farm Road in Mills River to transform from hayfield to a brewery and taproom. The brewery currently operates at the shops on Rockwood in Arden, which is “busting at the seams,” McCarthy says in the release.
“We started this brewery with the intent of having it in Mills River,” says Soukup, also head brewer, in the release. “I grew up in Mills River and although I love Asheville and the great breweries there, I wanted to build something in Mills River for the residents to enjoy closer to home.”
Their beers also pay homage to those
...More info on site
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USA, NC: Mystery Brewing to cease operations
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Hillsborough’s Mystery Brewing will close at the end of the month, the News & Observer reported on October 25.
The brewery announced the Oct. 31 closing on its Facebook page on October 25, in a post signed by brewer and founder Erik Lars Myers.
“We’re enormously proud of the community that has grown up around Mystery, and we’ll miss being here every day for Hillsborough,” Myers said in the post.
Mystery Brewing is made up of a production brewery in a warehouse on the banks of the Eno River and a brewpub on South Nash Street in Hillsborough. Though the bar has been successful, Myers said, the production and distribution side of the business isn’t moving enough beer to be sustainable.
“We’ve had a hard time getting all the ends to meet,” Myers said in an interview. “The pub and restaurant are doing really, really well, but there’s a deficit in distribution. It just doesn’t make sense to keep kicking the can down the road.”
Myers said he told the brewery and pub’s staff about the impending closure at the beginning of October. Mystery closing its doors will put 26 people out of work, but Myers said his focus in the last days of the
...More info on site
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USA, OR: Alameda Brewhouse to close on November 3
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Alameda Brewhouse, a Northeast Portland brewpub that dates back to the early days of Portland's craft brew scene, is closing Nov. 3, owner Matt Schumacher confirmed to OregonLive.
The restaurant, in the 4700 block of Northeast Fremont Street, has been a neighborhood fixture since opening in 1996. The Beaumont Business Association announced the closure on October 25.
Schumacher, reached by phone, said legal reasons prevented him from commenting on why the restaurant was closing, but he said he and his staff of 20 employees were devastated.
"We're all pretty sad," Schumacher said. "We're pretty much one of the original Portland brewpubs. Us, Lucky Lab, Raccoon Lodge."
Schumacher said he informed his employees, about half of which have been with Alameda Brewing for more than 15 years, about the closure.
"I can't tell you how grateful I am for them," he said. "I let them know I'm not going to be the type of guy who puts a piece of paper up on the window. I told them, and they all voted to stay on till the end."
Schumacher said Alameda Brewing, the pub's brewery, will continue to operate for a short period, but he couldn't say when it would close. The brewery has operated a
...More info on site
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USA, CA: AB InBev-owned Golden Road Brewing cancels plans to launch production facility in Oackland
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A planned Oakland brewery and beer garden from Los Angeles-based Golden Road has hit a dead end. Berkeleyside confirms that the brewery, owned since 2015 by beverage industry Goliath Anheuser-Busch InBev, won’t pursue its proposal for an empty Temescal parking lot (at 320, 322, and 330 40th Street) after all. Instead, the company is shifting its focus to other projects, a representative tells Berkeleyside.
Golden Road’s proposed use of the parking lot behind Clove & Hoof was instantly contentious. “Golden Road saw an overwhelmingly negative response to their ... attempt at bringing a beer garden to the neighborhood,” said Sam Gilbert of Temescal Brewing. Gilbert vehemently opposed the project along with other members of the local beer community.
After Golden Road downsized its original plans, the city of Oakland gave the project the go-ahead last November. But the alterations weren’t enough to appease opponents. “This is a massive company with values and corporate strategies that are a direct threat to the local beer community and what we stand for,” said Gilbert.
While Golden Road is taking a detour around Oakland, other mega-breweries could be on their way to the Bay Area. San Diego’s Ballast Point, which is owned by Constellation Brands, is planning
...More info on site
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World: AB InBev decides to cut dividend on weak Q3 profits
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The world’s largest brewer Anheuser-Busch InBev has cut its dividend in half and reported weak third-quarter profits hit by slower sales in key markets
...More info on site
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Brazil: Ambev reports drop in quarterly earnings
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Ambev SA, Latin America’s largest brewer, reported a drop in quarterly earnings on October 25, hurt by inflation in Argentina and slipping share in
...More info on site
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Australia: Barley harvest starts in Australia
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Barley harvest has started in Australia, and the first harvest pressure can be felt in the track markets, trading at clearly lower levels compared
...More info on site
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The Philippines: Philippines' San Miguel further trims F&B unit's IPO size, eyes $634 mln
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San Miguel Corp, the Philippines’ largest company, is seeking to raise a mere P34 billion (about $634 million), less than half of its original target, through a sale of shares in its food unit after pricing the shares at the bottom of an indicative selling range, DEALSTREETASIA reported.
In a disclosure to the Philippine Stock Exchange on October 25, the conglomerate said it will offer 400.94 million common shares in San Miguel Food and Beverage Inc at a price of P85 ($1.6) per share, the low end of the P85-95 price range it set last week.
This excludes an over-allotment option of up to 60.14 million common shares or 15 per cent of the offering.
The move marks yet another trimming of the IPO size by San Miguel Corp. In an amended filing last week, the company said it had slashed by a half the total number of shares it intends to sell to 523 million at a range of P85 to P95 per share due to weakness in the stock market.
The latest disclosure showed that the company further cut the size to 400.94 million, or less than half of its original plan to sell up to 1.02 billion
...More info on site
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India: Beer anti-trust probe triggered by AB InBev’s report to authorities - sources
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An Indian anti-trust probe into beer price-fixing allegations was initiated after the world’s largest brewer Anheuser-Busch InBev told the authorities last year it had detected an industry cartel, three people familiar with the matter told Reuters.
AB InBev discovered the Indian operations it acquired as part of its around $100 billion acquisition of London-listed rival SABMiller Plc in 2016 had for years fixed beer prices along with Denmark’s Carlsberg and India’s United Breweries, which is part-owned by Heineken NV, the sources said.
AB InBev conducted an internal investigation in the first half of last year, after closing the SABMiller deal, and found that executives had discussed and agreed on their submission of ex-brewery beer production prices to Indian state governments. Those ex-brewery prices would include all the production and marketing costs, as well as a proposed profit margin, and were used by state governments to set a maximum retail price.
“It was startling,” one of the sources said. “Extensive pricing information about the competition, some of which is extremely confidential, was available to all the three companies.”
Earlier this month the Competition Commission of India (CCI) raided the offices of all the three brewers and found e-mails that showed executives were allegedly violating Indian
...More info on site
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France: 61% of winter barley sown by October 23
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FranceAgriMer estimates 61% of the winter barley sown by Oct 23rd , vs 44% last week (and vs 72% same time last year), GrainCom analysts reported on October 26.
Conditions are still dry, although a bit of precipitation came down, but too little to make a difference.
Logistics remains very complicated in view of the very low water level at the European river systems.
Cash markets are mostly quiet, also because of the gathering at the ECE 2018 in Rouen.
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Nigeria: Guinness Nigeria declares dividend of N4.03 bln for its shareholders
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Guinness Nigeria Plc has declared a dividend of N4.03 billion for its shareholders for its financial year ended, June 30, 2018, translating to a dividend of N1.84 per share, the Vanguard reported on October 24.
Speaking at the 68th Annual General Meeting of the company, Chairman of Guinness Nigeria, Mr. Babatunde Savage, disclosed that the dividend represented an improvement of 318 per cent compared to a dividend of N963.77 million declared in 2017.
The dividend, which was approved by the shareholders, translated to a dividend per share of 184 kobo compared to 64 kobo per share in the 2017 financial year.
The company also recorded a 249 per cent increase in its profit after tax for the 2018 financial year, rising from N1.924 billion in 2017 to N6.72 billion in 2018.
This was on the back of a 31 per cent improvement in its operating profit, which rose to N13.39 billion, from N10.19 billion on the 2017 financial year.
The company’s revenue rose by 14 per cent to N142.98 billion in 2018 from N125.92 billion recorded in the 2017 financial year.
Commenting on its performance, Chairman of the company, Mr. Babatunde Savage, stated that despite the continued decline of the beer
...More info on site
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