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E-Malt.com Newsletter 09a
February 24 - February 26, 2020
Quote of the Week
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George Bernard Shaw
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Currency Rates
Base Currency: US Dollar
on February 26, 2020 |
Base Currency: Canadian Dollar
on February 26, 2020 |
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1 USD = 0.9207 EUR
1 USD = 0.7709 GBP
1 USD = 1.3286 CAD
1 USD = 1.5139 AUD
1 USD = 110.4800 JPY
1 USD = 4.3866 BRL
1 USD = 65.2115 RUB
1 USD = 7.0336 CNY
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1 CAD = 0.7526 USD
1 CAD = 0.5802 GBP
1 CAD = 0.6929 EUR
1 CAD = 1.1393 AUD
1 CAD = 83.1400 JPY
1 CAD = 3.3012 BRL
1 CAD = 49.0758 RUB
1 CAD = 5.2932 CNY
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Currency Rates Chart
Equities of the Largest Breweries
USA, MD: 1623 Brewing Company now open in Eldersburg
...Click here
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USA, WI: Swinging Bridge Brewing Company to reopen thanks to partnership between local businesses
...Click here
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USA: Craft Brew Alliance shareholders approve proposed agreement with AB InBev
...Click here
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USA, FL: History Class Brewing Company one step closer to opening
...Click here
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USA, SC: One of South Carolina’s largest breweries eyeing opening in the next two years
...Click here
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USA, FL: Ology Brewing Company planning first distillery in Tallahassee
...Click here
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USA, NY: Roe Jan Brewing Company already open in Hillsdale
...Click here
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Australia: Retaining 10% share in spun off malt business to help GrainCorp’s balance sheet
...Click here
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Asia: Spread of coronavirus could impact 2020 profit - Diageo
...Click here
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Malaysia: Heineken Malaysia’s 2019 net profit up 10.8%
...Click here
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EU: Barley production forecast to total 54.064 mln tonnes in 2020
...Click here
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Nigeria: Guinness Nigeria Plc sees unfavourable business environment eating dip into its profit
...Click here
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India: Beer and other drinks could get cheaper thanks to India relaxing import norms for Australian malting barley
...Click here
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Malaysia: Carlsberg Brewery Malaysia to continue to defend its case on bill of excise duty payment
...Click here
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India: Carlsberg facing several allegations of corruption, fraud and other potential illegal practices in India
...Click here
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Graph of the Week
Table of the Week
Africa Beer Production by Country 2015-2019s
Prices Evolution
Barley Prices
Theoretical Malt Prices
These Days in Business History
24 February
1921 - 1st transcontinental flight in 24 hours flying time
1986 - Texas Air buys Eastern Airlines for $676 million
1995 - Dow-Jones hits record 4011.74
25 February
1791 - 1st Bank of U.S. chartered
1837 - 1st U.S. electric printing press patented by Thomas Davenport
1862 - Paper currency introduced in U.S. by President Abraham Lincoln
26 February
1848 - 2nd French Republic proclaimed
1907 - Royal Oil and Shell merge to form British Petroleum (BP)
1993 - World Trade Center bombing
1995 - Barings Bank, one of the oldest and most distinguished investment banks in the world, declares bankruptcy
Agenda
March 2020:
09 - 11: 107 Brewing and Engineering Conference 2020 (Leipzig, Germany)
11 - 12: BeerX 2020 (Liverpool, UK)
11 - 15: Festival Brasileiro da Cerveja 2020 (Blumenau, Brazil)
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)
24 - 06 July: Copa Cervezas de America 2020 (registration: 24 Apr-6 Jul) (Mar del Plata, Argentina)
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)
09 - 12: Aro Rojo International Beer Cup 2020 (Tampico, Mexico)
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:
02 - 05: Expo Trade, Brewers Conference & Mar del Plata Beer Week 2020 (Mar del Plata Argentina)
03 - 07: Mondial de la Biere Rio 2020 (Rio de Janeiro, Brazil)
05 - 05: Copa Cervezas de America 2020 (Award Ceremony) (Mar del Plata, Argentina)
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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USA, MD: 1623 Brewing Company now open in Eldersburg
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A new brewing company is now open in Eldersburg, CBS Pittsburgh reported on February 22.
1623 Brewing Company houses a 30-barrel brewhouse operation.
“This has been a long time in planning and a lot of hard work,” said Zac Rissmiller, Co-Founder and Head Brewer. “The opportunity that exists in Carroll County and throughout Maryland, and the entire region for the matter is immense. We are excited to finally have the opportunity to showcase our brand and styles from our own state-of-the-art brewing facility.”
There’s a taproom with patio space and date night tables.
1623 Brewing is a Maryland company that has been producing and distributing its beer throughout the state since September 2018 under a contract brewing agreement. This allows start-up breweries to produce their product at other breweries while building their own facilities.
1623 gets its name from the McKelvin family roots.
In the 1950s part of the family relocated from Maryland to Colorado 1,623 miles away.
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USA, WI: Swinging Bridge Brewing Company to reopen thanks to partnership between local businesses
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A partnership between local businesses will keep Swinging Bridge Brewing Company alive in downtown River Falls, now as a brewpub.
Juniors and Swinging Bridge have joined together to reopen the brewery starting Wednesday, Feb. 26.
The brewery closed in September 2019 after more than two years in operation. Head brewer Mike O’Hara has returned, along with Juniors alum Cory Hart, who will now serve as the Swinging Bridge general manager.
Hart has been with Juniors for 11 years, and said they were excited when Swinging Bridge opened. He and O’Hara have known each other for years. O’Hara had his first date with his wife at Junior’s, and then held their wedding reception there.
“We always had a really good relationship,” O’Hara said.
As a brewpub, Swinging Bridge will offer guest taps, cider and beer. It will also offer wine, thanks to a partnership with Forestville Vines. The partnership with the local winery worked out well, Hart said.
Brewing operations won’t start up right away. The business had to reapply for the brewing license through the state. Hart said he expects brewing will be back in the summer.
Hart said much of the place will stay the same, including the downtown location. Swinging Bridge will continue to be
...More info on site
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USA: Craft Brew Alliance shareholders approve proposed agreement with AB InBev
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Craft Brew Alliance, Inc. ("CBA"), a leading craft brewing company, announced that its shareholders voted at a special meeting of shareholders on February 25 to adopt the agreement, announced November 11, 2019, that will create an expanded partnership between CBA and Anheuser-Busch Companies, LLC, with AB InBev agreeing to purchase the remaining CBA shares it does not already own in a merger transaction for $16.50 per share, in cash.
"On behalf of CBA’s Board of Directors and executive team, I would like to thank our shareholders for their overwhelming support of this proposed combination with A-B," said David Lord, Chairman of Craft Brew Alliance. "In addition to delivering value for our shareholders, today’s outcome reflects the tremendous success that CBA and A-B have achieved in their decades-long partnership. By joining with A-B, we look forward to accelerating the potential of CBA’s distinctive portfolio, led by Kona Brewing Company as a truly distinctive lifestyle brand, while continuing to invest in our local communities."
"Today’s decisively positive shareholder vote brings us even closer to cementing our expanded partnership with A-B," added CBA Chief Executive Officer Andy Thomas. "For more than 25 years, our two companies have been working together to enrich the beer landscape
...More info on site
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USA, FL: History Class Brewing Company one step closer to opening
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History Class Brewing Company in Downtown Panama City is one step closer to opening, WJHG-TV reported on February 23.
Officials with the brewery say much of the main work inside the building is complete and they're getting ready to start brewing beer.
They've also started looking for employees and bartenders.
They say brewing the beer will take around four to six weeks and once that's over they'll start the grand opening phase.
Tim Whaler, the brewer for History Class Brewing Company said, "We'll use the grand opening phase to get our feet wet as we go. Then definitely announcing a grand opening to the public once we do a few of those soft openings to get everything smoothed out."
Whaler says they plan to have 16 taps total and at least half of them available when the brewery opens.
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USA, SC: One of South Carolina’s largest breweries eyeing opening in the next two years
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One of the least-flashy areas of Columbia is poised to welcome what could become one of the larger breweries in South Carolina, its owner believes, The State reported on February 19.
Scott Middleton, the developer behind much of the hearty revitalization in the heart of Main Street downtown, has purchased the 3.5-acre site of the former Stone Manufacturing plant on North Main Street in the Eau Claire community, where he plans to open a sports-themed brewery in the next two years.
Middleton’s brewery has the potential to spark a revitalization similar to the one he helped spur in recent years only 2 miles down the road. Middleton developed what’s now called The Main Course complex (formerly Michael’s Cafe and Catering), Good Life Cafe and The Grand boutique bowling alley in the now-bustling 1600 block of Main, with plans for new businesses in that area to roll out soon.
“I understand that in order for the rest of this city to continue to grow and expand, we have to do something with North Main,” Middleton said. “What’s going to immediately start happening is everything between here and (downtown) is going to start filling in quickly.”
The North Main corridor above Elmwood Avenue already has seen
...More info on site
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USA, FL: Ology Brewing Company planning first distillery in Tallahassee
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Tallahassee's craft beer scene is well known, but one brewery is entering uncharted waters for the capital city, with plans to open a distillery, WCTV reported on February 24.
Ology Brewing Company plans on opening the city's first distillery this year. The three-year-old company already brews its own beers, but it believes the addition of a distillery will enhance its craft spirits.
"In general, we just want to make this an extension of Ology brewing, so we create high in craft, small-batch products," said Ology Co-founder Nick Walker. "That's what we want to do with the distillery as well."
Distilling is the process of extracting essential products from a beer by vaporizing it, and then condensing the cooling vapor. This lets the distiller use the ingredients they like and get rid of the ones they don't.
Ology's head distiller, Jason Grant, said the distillery will allow for more creativity in terms of the spirits the company can make.
"When we do something we really like on the brewery side, like a hazy IPA. Something that's not really classical, not something that's traditional but we can do the same with distilling it," said Grant. "Go along and make maybe a brandy or make something that people
...More info on site
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USA, NY: Roe Jan Brewing Company already open in Hillsdale
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Roe Jan Brewing Company opened its doors on Wednesday, February 5, unveiling a powerful starting lineup of beer and an inventive, upscale pub menu, Brewbound reported.
The brewery uses a 7-barrel Portland Kettle Works system to produce a well-balanced rotation of beers, including traditional ales and lagers as well as trending styles such as IPAs and sours. “We’ve been hard at work creating the opening roster of beers,” said Brewery Operations Manager Hayley Shine. “Balance is at the heart of our brewing philosophy, both in terms of our range of offerings and the flavor harmony we seek in each beer.”
Ms. Shine is a highly skilled, award-winning brewer with over a decade of brewing experience, primarily in brewpubs. She comes to RJBC from Chicago, where she most recently created and launched a unique beer and cider program for a small startup called Eris. Her previous experience includes a brief stint at Rogue Ales and a long stretch at CraftWorks Restaurants and Breweries.
Executive Chef Charles Kiely heads the restaurant, which features an open kitchen design and a Grillworks wood-fired grill. Mr. Kiely is former chef-owner of The Grocery in Carroll Gardens, Brooklyn, which was consistently named one of the top 30 restaurants
...More info on site
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USA, NC: Bold Missy Brewery to close down
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Almost three years after opening its doors, Charlotte’s Bold Missy Brewery has announced it will close at the end of next week, the Charlotte Observer reported on February 22.
“We’ve loved being a part of the #CLTbeer community and are excited to see it continue to grow,” the brewery stated in a Facebook post on February 22.
The beers at the brewery are named after women — bold missies, if you will.
The brewery is located at 610 Anderson Street, an area some refer to as “north NoDa.” Bold Missy was a pioneer in the area as it was the first food and beverage spot in that section of the neighborhood. It has since been joined by neighboring Divine Barrel Brewing, Free Will Craft+Vine, Deejai and other retailers.
Carol Waggener, founder of Bold Missy Brewery, told CharlotteFive in 2017: “It’s going to look completely different in three years, which makes it a really exciting place to be.”
The brewery at 610 Anderson Street will operate under normal hours until Saturday, Feb. 29, where it will close for a private event and then close for good, the Facebook post stated.
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Australia: Retaining 10% share in spun off malt business to help GrainCorp’s balance sheet
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The booming global craft beer market promises to continue offering drought-battered GrainCorp some future financial security, despite the company's impeding split from its profitable
...More info on site
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Asia: Spread of coronavirus could impact 2020 profit - Diageo
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Diageo, the world’s biggest spirits company, said on February 26 the spread of coronavirus in greater China and the Asia Pacific region could knock up to 200 million pounds off its profit in 2020.
The company said that in China, bars and restaurants have largely been closed and there has been a substantial reduction in banqueting. Trading has been significantly disrupted since the end of January and the group expects this to last at least into March.
After that Diageo anticipates a gradual improvement with consumption returning to normal levels towards the end of fiscal 2020.
The company estimated the negative impact of the virus outbreak on the group’s organic net sales and organic operating profit to be between 225-325 million pounds and 140-200 million pounds respectively.
It cautioned that these ranges exclude any impact of coronavirus on its other markets beyond China and Asia Pacific.
Shares in Diageo were down 2.3% at 0846 GMT.
When the group published first half results on Jan. 30, it had commented on the expectation of an impact from coronavirus but was not able to quantify it at the time.
Rival Remy Cointreau warned last month of the potential impact on demand for its premium cognac in China, while Pernod Ricard
...More info on site
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Malaysia: Heineken Malaysia’s 2019 net profit up 10.8%
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Heineken Malaysia Bhd’s net profit declined by 8.9% to RM91.17 million in its fourth quarter ended Dec 31, 2019 from RM100 million reported in
...More info on site
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EU: Barley production forecast to total 54.064 mln tonnes in 2020
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The latest report by Coceral published in January forecasts the EU-27 barley production in 2020 at 54.064 mln tonnes vs. 54.58 mln tonnes in
...More info on site
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Nigeria: Guinness Nigeria Plc sees unfavourable business environment eating dip into its profit
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The management and investors of Guinness Nigeria Plc are currently not smiling and that is connected to some factors that have eaten deep into the profit of the company. This was disclosed by the Managing Director of the firm, Baker Magunda in Lagos, Nairametrics reported on February 21.
A far as the Guinness boss is concerned, Nigeria’s business environment has not been favourable for his company and provoking to the ease of doing business in the country.
Listing issues that have eaten deep into the company’s profit, Magunda outlined port congestion, tax reforms and decline in alcohol pricing. According to him, they have been affecting the operations of Guinness Nigeria and that the company has been burning cash to transport its products across the nation.
He added that the company is also struggling with government policies like the increased excise duties on beer and stouts, which was rose to N0.30 kobo per centilitre (Cl) in 2018 and N0.35 kobo per Cl each in 2019 and 2020.
Also, President Muhammadu Buhari-led administration had increased VAT rate from 5% to 7.5%, as well as implementing other tax reforms that have caused inflation pressure.
The upward review of the excise duty rates for alcoholic beverages and tobacco was
...More info on site
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Nigeria: Nigerian Breweries battling for survival
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Nigerian Breweries (NB) Plc is arguably the country’s largest brewing company with a market capitalization approximating N472 billion about ($1.31 billion) as of December 31, 2019. The figure makes the company, which is listed on the floor of The Nigerian Stock Exchange (NSE) in 1973, one of the highly capitalized companies on the bourse by market capitalization. But the last time the multi-billion naira company recorded a growth in its business was in 2017. Bamidele Famoofo reports that the company has recorded a declining performance beginning from 2017, with key performance ratios suggesting that the management team must quickly go back to the drawing board to come up with strategies that will put a stop to its declining fortunes.
Nigerian Breweries Plc was incorporated some 73 years ago in Nigeria. It recorded a landmark when the first bottle of Star lager beer, its leading brand, rolled out of its Lagos brewery bottling lines three years after its incorporation in 1946.
Over the years, the company whose head office is located in Lagos has expanded its operating base to about nine brewing locations across the country by means of inorganic growth.
In 1993, the company acquired its fifth brewery in Enugu and in 2003,
...More info on site
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India: Beer and other drinks could get cheaper thanks to India relaxing import norms for Australian malting barley
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Beer, whisky and flavoured alcoholic beverages could get cheaper this summer, with India relaxing import norms for malting barley from Australia, allowing more of it to enter the country, ThePint reported on February 24.
In December, India notified the World Trade Organisation (WTO) of new import conditions for Australian malting barley that will allow the import of the product even with phosphine fumigation. Before this, any import in India required all fumigation to be methyl bromide-based. However, this process is not suitable for malting barley, because it denatures the seed and impacts the malting process.
Denaturing is a process which takes away or alters the natural or molecular qualities of barley, thereby making it unfit for drinking.
“This relaxation was quite necessary as there is a huge gap in demand and supply of malt barley in India,” Pradeep Verma, adviser and techno-commercial associate at Weyermann Malts told ThePrint. “Eighty per cent of the barley production in India goes to livestock fodder diet. The import of malt barley from Australia will certainly comfort the breweries industry, which was struggling through a shortfall in demand and supply.”
A senior agriculture ministry official, who did not want to be named, said India is looking to import at
...More info on site
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Malaysia: Carlsberg Brewery Malaysia to continue to defend its case on bill of excise duty payment
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Carlsberg Brewery Malaysia Bhd will continue to defend its case on the bill of payment for excise duties after the Customs cancelled its bill of demand claiming for sales tax and penalty totalling RM20.64 million effective Jan 15, 2020, The Sun Daily reported on February 23.
“They (Customs) still expect us to pay the remaining RM36 million excise part but we hold our position that we have a strong case and we’re going to keep arguing our case. That doesn’t change,” Carlsberg managing director Stefano Clini told a media and analyst briefing on February 21 after announcing its financial results for the year ended Dec 31, 2019 (FY19).
“We’re not making provisions or payments because we believe we’ve a strong case,” emphasised Clini, adding that the company will defend its case strongly.
To recap, Carlsberg was slapped with excise duty, sales tax and penalty claims amounting to RM56.34 million in September 2014.
Operationally, the group has adopted a cautious outlook for this financial year ending Dec 31, 2020 following the Covid-19 outbreak.
“If it wasn’t for the coronavirus, we’d be moderately optimistic for the year,” said Clini.
Clini said the company does not expect the stimulus package to be introduced on Thursday to have a direct
...More info on site
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India: Carlsberg facing several allegations of corruption, fraud and other potential illegal practices in India
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Danish brewer Carlsberg is facing several allegations of corruption, fraud and other potential illegal practices in its Indian subsidiary.
The allegations are disclosed in the latest annual report from Carlsberg India Private Limited, according to Danish newspaper Berlingske.
In October of last year, the newspaper uncovered how senior staff members at one of Carlsberg’s breweries in India had systematically bribed government officials.
With the new accusations and claims disclosed in the financial statements, the number of allegations facing Carlsberg India has grown significantly, experts said.
According to Per Nikolaj Bukh, professor of business administration at Aalborg University in Denmark, the new information shows that the issues in Carlsberg India seem far more extensive than initially assumed.
“This is a red flag, which the headquarters in Copenhagen has to react to,” Per Nikolaj Bukh said to Berlingske.
An internal review of “alleged fraud” has observed “payments without adequate supporting evidence” which “indicated weaknesses in the internal controls”, according to the annual financial statement.
In another case, misappropriation of approximately 150,000 dollars was committed by a former employee, which Carlsberg has now reported to the local police.
In a third case, which is still being investigated, a whistleblower warned against potentially unlawful practices committed by employees in the form of
...More info on site
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