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E-Malt.com Newsletter 05b
January 30 - February 02, 2020
Quote of the Week
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Currency Rates
Base Currency: US Dollar
on January 31, 2020 |
Base Currency: Canadian Dollar
on January 31, 2020 |
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1 USD = 0.9072 EUR
1 USD = 0.7661 GBP
1 USD = 1.3211 CAD
1 USD = 1.4869 AUD
1 USD = 108.8600 JPY
1 USD = 4.2394 BRL
1 USD = 63.0152 RUB
1 USD = 6.9357 CNY
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|
1 CAD = 0.7569 USD
1 CAD = 0.5798 GBP
1 CAD = 0.6866 EUR
1 CAD = 1.1254 AUD
1 CAD = 82.3900 JPY
1 CAD = 3.2086 BRL
1 CAD = 47.6930 RUB
1 CAD = 5.2493 CNY
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Currency Rates Chart
Equities of the Largest Breweries
Canada: AB InBev’s Labatt Breweries buys Calgary’s Banded Peak Brewing
...Click here
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USA: Meteoric rise of Mexican beer keeps surprising analysts
...Click here
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USA: Dropping beer sales force top brewers to create new alternatives
...Click here
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USA, IL: Phase Three Brewing Company finalizing purchase of Lake Zurich Brewing Company
...Click here
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Canada, ON: Black Bellows Brewing now open in downtown Collingwood
...Click here
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USA, CA: Karl Strauss brewpub in San Marcos pushing back its opening by a year
...Click here
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USA, WI: CheezHead Brewing getting ready to open in Beloit
...Click here
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USA, VA: Moon Hollow Brewing opens its doors in Montgomery County
...Click here
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USA, OH: Crooked Can Brewing Co. set to open in Old Hilliard in February
...Click here
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USA, IL: Chicago’s newest brewery to open its doors on January 30
...Click here
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USA, IL: Milk Money Brewing receives approval for its liquor licenses
...Click here
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Canada, SK: Saskatchewan farmer successfully growing hops for local brewers
...Click here
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World: Diageo reports rise in first-half operating profit, expects annual sales growth to be at lower end of previous forecast
...Click here
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Vietnam: ThaiBev might take worse hit if Vietnam further widens alcohol regulation policies
...Click here
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UK & US: Diageo warns of Scottish whisky jobs threat from US-EU trade dispute
...Click here
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China: AB InBev temporarily suspends production at Wuhan brewery
...Click here
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Graph of the Week
Table of the Week
Germany Hop Production 2015-2019s
Barley Prices
Theoretical Malt Prices
These Days in Business History
30 January
1922 - World Law Day, 1st celebrated
1951 - Ferdinand Porsche, German car inventor (Porsche), dies at 75
1995 - Belgium's TV channel 2 in Flanders goes on the air
31 January
1956 - The twist off bottle cap is invented
1973 - Ragnar Frisch Norwegian economist (Nobel 1969), dies at 77
1990 - McDonald's opens its first restaurant in Russia
2010 - Avatar becomes the first film to gross over $2 billion worldwide
01 February
1788 - 1st US steamboat patent issued, by Georgia to Briggs & Longstreet
1884 - 1st volume of the Oxford English Dictionary, A-Ant, published
1898 - 1st auto insurance policy in US issued, by Travelers Insurance Co
1968 - World trade conference Unctad 2 opens in New Delhi
02 February
1914 - The Hong Kong Stock Exchange (formerly the Association of Stock Brokers in Hong Kong) is established
1947 - Edwin H. Land, founder of Polaroid Corp., demonstrates the instant camera to 650 scientists assembled at the annual meeting of the Optical Society of America
1995 - Barings Bank, one of the oldest and most distinguished investment banks in the world, declares bankruptcy after rogue trader Nick Leeson loses more than $1.4 billion on unauthorized (and apparently unsupervised) trades in Japanese stock futures
Agenda
January 2020:
31 - 01 February: Braukunst Live! 2020 (Munich, Germany)
February 2020:
04 - 08: Great British Beer Festival Winter 2020 (Norwich, UK)
07 - 10: HoReCa 2020 (Athens, Greece)
07 - 09: Finest Spirits 2020 (Munich, Germany)
15 - 18: Beer Attraction 2020 (Rimini, Italy)
March 2020:
09 - 11: 107 Brewing and Engineering Conference 2020 (Leipzig, Germany)
11 - 15: Festival Brasileiro da Cerveja 2020 (Blumenau, Brazil)
11 - 12: BeerX 2020 (Liverpool, UK)
13 - 15: Barcelona Beer Festival 2020 (Barcelona, Spain)
16 - 20: IBD Asia Pacific Convention 2020 (Perth, Australia)
19 - 21: Korea International Beer Expo 2020 (Seoul, South Korea)
24 - 26: Modern Brewing Technologies 2020 (Moscow, Russia)
24 - 26: Beviale Moscow 2020 (Moscow, Russia)
April 2020:
01 - 02: Expo Antad & Alimentaria Mexico 2020 (Expo Guadalajara, Mexico)
03 - 04: Helsinki Beer Festival 2020 (Helsinki, Finland)
05 - 08: 14th International Trends in Brewing "Beer & Society" 2020 (Leuven, Belgium)
16 - 18: Zurich Bier Festival 2020 (Zurich, Switzerland)
19 - 22: Craft Brewers Conference & BrewExpo America 2020 (San Antonio, Texas, USA)
25 - 26: Zythos Beer Festival 2020 (Leuven, Belgium)
May 2020:
01 - 02: Tallinn Craft Beer Weekend 2020 (Tallinn, Estonia)
05 - 07: International Beer Strategies Conference 2020 (Munich, Germany)
13 - 15: Craft Beer China 2020 (Shanghai, China)
14 - 16: Copenhagen Beer Festival 2020 (Copenhagen, Denmark)
15 - 17: Mondial de la Biere - Paris 2020 (Paris, France)
18 - 24: Budapest Beer Week 2020 (Budapest, Hungary)
19 - 21: Beer 2020 (Sochi, Russia)
21 - 24: Mondial de la Biere 2020 (Montreal, Canada)
22 - 30: Latvia Beer Festival 2020 (Riga, Latvia)
25 - 27: Africa Brewing Conference 2020 (Maputo, Mozambique)
June 2020:
03 - 04: The Brewers of Europe Forum 2020 (Antwerp, Belgium)
04 - 07: Mondial de la Biere - Sao Paulo 2020 (Sao Paulo, Brazil)
04 - 07: Wiener Bierfest 2020 (Vienna, Austria)
July 2020:
01 - 02: Craft Drinks India 2020 (Bangalore, India)
29 - 31: Beviale Mexico 2020 (Guadalajara, Mexico)
August 2020:
01 - 04: World Brewing Congress 2020 (Minneapolis, USA)
07 - 08: Beervana 2020 (Wellington, New Zealand)
13 - 15: VIETFOOD & BEVERAGE - VIETNAM 2020 (Ho Chi Minh City, Vietnam)
September 2020:
03 - 07: Mondial de la Biere Rio 2020 (Rio de Janeiro, Brazil)
14 - 25: Craft Brewing in Practice 2020 (Berlin, Germany)
19 - 04 October: Oktoberfest 2020 (Munich, Germany)
21 - 23: 11th Ibero-American VLB Symposium 2020 (Barcelona, Spain)
October 2020:
13 - 16: China Brew & China Beverage (CBB) 2020 (Shanghai, China)
29 - 30: Sea Brew 2020 (Taipei, Taiwan)
November 2020:
10 - 12: Brau Beviale 2020 (Nuremberg, Germany)
25 - 27: Drink Japan 2020 (Tokyo, Japan)
December 2020:
09 - 11: Drink Technology India 2020 (Mumbai, India)
News Articles
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Canada: AB InBev’s Labatt Breweries buys Calgary’s Banded Peak Brewing
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Labatt Breweries of Canada – a division of multinational brewing company AB InBev – has announced that it has purchased Calgary’s Banded Peak Brewing, the Canadian Beer News reported on January 30.
Launched in 2016 by partners Alex Horner, Matthew Berard, and Colin McLean, the Banded Peak brewery and taproom is located in the city’s “Barley Belt”, an area that features ten breweries in close proximity.
“I never dreamed this (the Labatt deal) would have been possible,” said Horner in an interview with the Calgary Herald. “We obviously had lots of ambition for the brewery, we wanted to grow it and build our business, but this level of growth we never anticipated and we never saw a partnership like this as something that was possible.”
“The growth of craft beer in Alberta is actually outpacing the growth we’ve seen in the rest of Canada,” said Rob Legate of Labatt in the same report. “They (Banded Peak) have done a great job of building a very strong brand, and we can leverage our scale to provide them with investment and resources and capability and capacity to continue to nurture that growth.”
Financial terms of the transaction have not been disclosed.
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USA: Meteoric rise of Mexican beer keeps surprising analysts
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It's been two years since Budweiser fell out of the top three largest beers by off-premise sales in the U.S. Now, it's suffered another ignominy: After yet another year of falling sales, the one-time King of Beers has seen one of the giants of the Mexican beer craze pass it up, Nasdaq reported on January 25.
The industry analysts at IRI say that Anheuser-Busch InBev's Budweiser saw off-premise sales fall 4% in 2019, which even at $1.8 billion, doesn't qualify for a top-five ranking. It's enough to leave the brewer crying in its beer.
The past few years have been difficult for the beer industry with U.S. sales drying up because of changing consumer preferences. Instead of a blend of barley, malt, and hops, drinkers are turning in greater numbers to light, fruity beverages like hard seltzer and tea.
But don't bemoan the decline of the mega brewer's flagship beer segment, as Anheuser-Busch still owns the two biggest beers in the country, Bud Light and Michelob Ultra. Even though sales of the former suffered a 5% decline, it remains far and away the leader with over $5 billion in sales to U.S. off-premise retailers in 2019. Off-premise sales are those made at package
...More info on site
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USA: Dropping beer sales force top brewers to create new alternatives
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Beer consumption has dropped by over 4% in the U.S. in the last year. The drink’s falling popularity has forced some of America’s top brewers into a race to accommodate changing tastes – just in time for one of beer’s biggest days of the year, Super Bowl Sunday, WCBI reported on January 30.
The decline should not come as a surprise to manufacturers; sales of traditional lagers have been going down for more than five years.
“Some of the reasons we’re seeing some of the declines within those traditional lagers are consumer trends,” Danelle Kosmal told CBS News’ Janet Shamlian at the Dupont Circle Hotel’s Doyle bar in Washington, D.C. Kosmal is vice president at the Nielsen Beverage Alcohol Practice.
“Consumer trends around health and wellness, consumer trends around wanting a different and new experience,” are all reasons for the shift, she said.
Products like craft beers from small brewers have become growing trends, as well as hard seltzers that promise health-conscious consumers fewer carbs and lower calories. In 2019, hard seltzer sales hit $1.5 billion.
Big beer brands are paying attention – the U.S.’s top five brewers are all experimenting with beer alternatives like hard seltzer and even non-alcoholic kombucha in an effort to
...More info on site
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USA, IL: Phase Three Brewing Company finalizing purchase of Lake Zurich Brewing Company
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Phase Three Brewing Company is finalizing a deal to purchase Lake Zurich Brewing Company and become the third brewery in just over four years to operate at 932 Donata Court in the industrial area on Lake Zurich's northeast side, the Chicago Daily Herald reported on January 20.
Phase Three Brewing was founded in March of 2019 by Evan Morris, the company's operations manager, and the husband-and-wife team of Head Brewer Shaun Berns and Marketing Manager Brittany Berns. They named the company Phase Three because the new venture marks the third time they have worked together making beer in the Chicago area.
They linked up just over 10 years ago at the now-shuttered Ram Brewery in Schaumburg. All three were later hired by More Brewing Company in Villa Park, which opened in July of 2017.
"It got to the point there where we got comfortable enough with going out and doing our own thing," Morris said. "We have a lot of experience."
From the start, Phase Three's beer has been made at Lake Zurich Brewing under a production contract so fans of the new company's hazy IPAs and barrel-aged stouts shouldn't notice a change when the deal is finalized.
Shaun Berns said it worked out that
...More info on site
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Canada, ON: Black Bellows Brewing now open in downtown Collingwood
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Four years after launching as a contract brewer, and a year after announcing plans for a physical brewpub location, Black Bellows Brewing has announced that it is now open in downtown Collingwood, Ontario, the Canadian Beer News reported on January 20.
Located in a historic building that was erected in the 1860s as a blacksmith shop – providing a fitting connection to the name of the brewery – Black Bellows opened last week with a line-up that ranges from previously available brands such as White Witbier (5% abv), Hops! Belgian IPA (6.3% abv), and Himalaya White IPA (6.3% abv), to brand new beers including Bring The Roses Pilsner (4.6% abv), Shinny Fuel Pale Ale (5.2% abv), and Ballpeen Stout (4% abv).
The brewpub also offers an extensive food menu inspired by street foods from around the world, with dishes including chicken skin chicharron, panang beef curry, Chinatown slaw, and Filipino longanisa corn dogs.
Black Bellows Brewing is located at 40 Simcoe Street in Collingwood, and is open from 11:00 AM to 11:00 PM daily with the exception of Tuesdays.
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USA, CA: Karl Strauss brewpub in San Marcos pushing back its opening by a year
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A new Karl Strauss brewpub planned for San Marcos is pushing back its opening by a year, from an expected start early this year, to the beginning of next year, The San Diego Union-Tribune reported on January 21.
Karl Strauss Brewing Co., San Diego’s oldest craft beer company, last year announced plans to open a new site on a 2-acre space at Las Posas Road and Armorlite Drive, near Palomar College. The project would introduce a new design, re-inventing the suburban backyard in the city’s business district, with a park-like setting, extensive outdoor space and regular food trucks.
It will also beta test new beer varieties in a “pilot brewery system,” where the company’s brew-masters will try out novel formulas, using local ingredients. Those small batch experiments could be replicated on a larger scale at the company’s production facilities, Steve Robbins, vice president of brewpubs for Karl Strauss, said last year.
“It’s just a vessel for our brew-masters to have fun, and make a smaller version of an experimental beer, but the sky’s the limit on what we can make there,” said Chad Heath, vice president of sales and marketing.
The site was originally slated to open in the first quarter of this year,
...More info on site
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USA, WI: CheezHead Brewing getting ready to open in Beloit
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CheezHead Brewing in Beloit will embrace all things Wisconsin - one pint at a time, according to owner Tom Morgan, the Beloit Daily News reported on January 23.
Morgan is the 'Big Cheez' of all operations at the downtown Beloit brewhouse at 414 Pleasant St.
CheezHead Brewing will offer a range of small-batch unique beers with other Wisconsin favorites mixed in thanks to brewing done by Brewfinity in Oconomowoc. In the spring, brewing is expected to start at the on-site brew room that's connected to a special event space.
"Wisconsin is a great state and I wanted to embrace everything good about it," Morgan said. "The name comes from something people not from here say as an insult, I think, and it's been embraced by Wisconsinites everywhere. I wanted to highlight the culture of Wisconsin beers and everything that comes with that."
After a soft opening last weekend, the business will open its weekly schedule beginning Feb. 3,
In the beginning, the brewhouse will offer light bar food followed by an expanded menu expected later this year, Morgan said. Specialty Wisconsin-made products like cheeses and meats could be sold in the future, he added.
In the summer, a beer garden will seat around 50 people looking
...More info on site
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USA, VA: Moon Hollow Brewing opens its doors in Montgomery County
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A portion of an old schoolhouse in Montgomery County now has a boozy second life, WSLS 10 reported.
Moon Hollow Brewing officially opened within the old Prices Fork Elementary School on January 24. The brewery now occupies what used to be the school’s kindergarten classroom.
“Nobody puts a brewery in the building where you attended kindergarten, but we’re doing it," said Hannah Lester, Moon Hollow Brewing’s head brewer. "It’s awesome that the community is so excited about it.”
The new brewery is just a small part of the old school’s rehabilitation; most of the school is now senior housing, while another space in the school is now a shared commercial kitchen for interested chefs.
The grand opening attracted a capacity crowd to the brewery. However, no one had a shorter distance to travel than Stephanie Gilmore, who lives in the converted schoolhouse.
“My grandson went to elementary school here, his mother went to elementary school here, and her mother went to elementary school here,” Gilmore said. “It took me only a half an hour since it opened to get here to start drinking. It’s pretty good.”
Gilmore said she’s excited to have a place to have fun with friends right around the corner from her apartment,
...More info on site
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USA, OH: Crooked Can Brewing Co. set to open in Old Hilliard in February
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Old Hilliard will soon be home to a new artisan market and brewery and taproom, WSYX/WTTE reported on January 27.
Located at 5354 Center Street, the Center Street Market and Crooked Can Brewing Co. are set to open in February and March.
The 16,000 square-foot marketplace and 7,000 square-foot courtyard will add a unique and exciting gathering spot for the community. The market will also feature a 3,000 square-foot multi-purpose room that will have its own bar, restroom and media availability.
The market will include 10 local vendors that will have permanent spaces within the building and will offer products seven days a week. The vendors will have unique items that will give customers a variety of options from various foods, desserts, and vintage home goods.
The market will also host local businesses for farmers market-style days throughout the year.
Plenty of indoor and outdoor seating will also be available.
The market will be anchored by Crooked Can Brewing Company.
The brewery and taproom will have 16 taps and will offer a wide variety of beers. It will also offer seasonal blends, seltzers, ciders and wine. The taproom will have two bars as well as a walk-up window that will be accessible from a large courtyard.
The brewery
...More info on site
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USA, IL: Chicago’s newest brewery to open its doors on January 30
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Chicago’s newest brewery, Burning Bush Brewery, will make its debut in an industrial stretch of North Center this week, the Block Club Chicago reported on January 27.
After a soft opening for family and friends over the weekend, owner Brent Raska said he’ll open the brewery, 4014 N. Rockwell St., to the public at noon Thursday, January 30.
Raska, a homebrewer, is the former pastor of a Presbyterian church in suburban North Riverside. When his church closed in 2017, he knew it was time to give his brewery idea a try.
“I am very thankful for all the help of so many people who have supported me along the way,” Raska said. “After a couple of years in the making we are so excited to be a part of the North Center community.”
Raska is busy expanding his beer offerings, but he’ll have several taps ready to go on January 30.
“We’ll have our oatmeal stout and our amber ale with basil on tap for the opening. I grew three-and-a-half pounds of basil in my backyard for it,” Raska said. “We started brewing a month ago and will keep rolling out our beers over the next couple months.”
The brewery’s taproom will also have wine and
...More info on site
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USA, IL: Milk Money Brewing receives approval for its liquor licenses
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Milk Money Brewing, which is planning to open this spring in downtown La Grange, received approval for its liquor licenses on January 27. Village officials said the brewery will be a big addition to the community, Patch.com reported.
According to Milk Money's Facebook page, brothers Lucas and Matthew Bumba are working to open a 100-seat restaurant, along with a 14-seat bar area, at 75 S. La Grange Road. The theme of the restaurant would be "refined Midwest comfort food with considerable Southern cooking influence," the page said. The brothers owned Solstice Restaurant in Western Springs, which closed last year. They said they would expand upon Solstice's practices of pickling, jamming curing and smoking.
The brothers said in a letter on Milk Money's Facebook page that they plan to to operate a seven-barrel brewhouse for consumption on-site and distribution. Milk Money will brew up to 2,000 barrels of beer a year, according to city documents.
"There are numerous craft breweries in the area," the brothers said, "but absolutely none that will combine both the brewing and restaurant side at a high level of quality as we intend to."
Milk Money also plans to have a beer club known as "The Friendly Neighborhood Milk Men &
...More info on site
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Canada, SK: Saskatchewan farmer successfully growing hops for local brewers
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A farmer from Moosomin is successfully growing hops on his farm for sale to local brewers in Saskatchewan, 620 CKRM.com reported on January 25.
Guy Shepherd is expanding to ten acres this year from 1.5 acres of hops over the past three years.
He says there is a market for the product.
“They’re used for aroma, flavouring and bittering in the beer process,” explained Shepherd. “The easiest way to describe them is if you think of a green pine cone with petals on it. They are used for the oils and alpha acids that come out of them.”
Shepherd says the hops are then baled and put into pellets for sale to craft brewers in the province.
2017 was his first year of production and he hopes there will be many more years to come.
“The hop price itself is steady. We have to develop the markets and convince people that we can not only produce the product, but we can produce a quality product that suits their needs.”
While the production of hops is labour intensive, he adds it has become a family enterprise.
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 Russia: Malt output increases by 9% in 2019
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Russian maltsters increased their production volume in 2019, Profibeer reported citing data by state statistics office Rosstat.
Last year’s malt output amounted to 1.382 mln
...More info on site
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World: Diageo reports rise in first-half operating profit, expects annual sales growth to be at lower end of previous forecast
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Diageo Plc, the world’s largest spirits company, on January 30 said it expects annual organic net sales growth to be at the lower end
...More info on site
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Vietnam: ThaiBev might take worse hit if Vietnam further widens alcohol regulation policies
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The new drink-driving law already caused beer sales in Vietnam to drop 25%.
Thai Beverage (ThaiBev) might take a worse hit if Vietnam further widens and tightens its policies on alcohol regulation, according to a report by UOB Kay Hian.
Already, a newly-enacted drink-driving law, which penalises driving under the influence of alcohol, has been attributed for a 25% drop in beer sales since its introduction on 1 January. About 24% of ThaiBev’s group revenue comes from Vietnam.
Some countries with even tighter measures showed worse decline in consumption. In Russia, policies including a ban on online alcohol advertising have reduced the country’s total alcohol consumption by 43% from the 2003 peak to 2016.
“The stricter regulations in Vietnam appear to be initially centered on the hazards of drink driving rather than a general clampdown on alcohol usage,” analyst Lucas Teng said.
Still, the sector may deal with regulatory risks, in addition to higher competition, as prices are lowered to capture support from consumers.
Outside the new regulation, ThaiBev’s beer business Sabeco already reported a 7% YoY decline in net sales on Q4 2019, as it saw lower sales volume and higher tax from changing one of its breweries from an associate to subsidiary.
Despite that, Vietnam’s
...More info on site
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UK & US: Diageo warns of Scottish whisky jobs threat from US-EU trade dispute
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Spirits giant Diageo has warned that thousands of Scotch whisky jobs could be affected by the ongoing US-EU trade dispute, BBC News reported on January 30.
Diageo's global supply chain boss Ewan Andrew said tariffs had left smaller distilleries vulnerable, as well as supply chain operators such as farms.
The US imposed a 25% tariff on imports of single malt Scotch in October.
It was among measures introduced by the US in retaliation against EU subsidies given to aircraft maker Airbus.
According to industry figures, more than 10,000 people are directly employed in the Scotch whisky sector in Scotland. A further 40,000 jobs across the UK are supported by the industry - 7,000 of which are in rural areas of Scotland.
Mr Andrew told BBC Radio's Good Morning Scotland programme: "The important thing as we look forward is that we de-escalate on both sides and that products such as consumer goods are not tied in to something that is about the aerospace industry.
"My concern would be for the broader industry and for those smaller players in the industry.
"Right now I am sure it has had an impact on some of their businesses but if it were to escalate, that really would be difficult for Scotland.
"So
...More info on site
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China: AB InBev temporarily suspends production at Wuhan brewery
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Beer giant AB InBev has said that it has temporarily suspended production at its Wuhan brewery, in China, according to Reuters.
The Budweiser maker said that it currently has no scheduled date for resuming production in Wuhan, which is at the epicentre of the coronavirus epidemic.
Elsewhere, major firms are seeking to limit their exposure to the virus outbreak, which has thus far killed 132 and affected close to 6,000.
Facebook, which suspended non-essential travel to mainland China, told employees who had travelled to China to work from home.
Alibaba asked employees to work from home for a week after an extended Lunar New Year break ends on February 2, while Tencent has extended holidays until February 9.
McDonald's shut outlets in five cities in Hubei province, while Yum China temporarily closed some KFC and Pizza Hut stores in Wuhan, and Luckin Coffee closed its cafes in the city.
Even the Magic Kingdom isn't immune to the disruption, with Walt Disney shutting its resorts and theme parks in Shanghai and Hong Kong during what is likely the busiest time of the year.
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South Korea: Carlsberg sales up 86% last year
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Sales of Danish beer Carlsberg have soared in South Korea, a recent report showed.
According to Golden Blue, sales of Carlsberg beer rose 86 percent last year from 2018.
Golden Blue, a homegrown whiskey maker that imports and sells Carlsberg beer, previously entered the local market by signing a contract with Danish brewer Carlsberg A/S in May 2018.
Since then, the company has been focusing on hands-on marketing, which includes participating in various festivals and significantly increasing drinking opportunities for consumers by operating pop-up stores.
As a result, sales in the summer of last year increased 192 percent compared to 2018, and the second half also achieved an 80 percent increase.
Meanwhile, Golden Blue plans to launch a variety of sales and marketing activities this year to boost sales of Carlsberg beer.
By sharing Carlsberg content on YouTube and other online channels, the company will raise awareness among millennials, while further strengthening its hands-on marketing initiative.
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