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E-Malt.com Newsletter 11a March 09 - March 11, 2020
Quote of the Week
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Currency Rates
Base Currency: US Dollar on March 11, 2020 |
Base Currency: Canadian Dollar on March 11, 2020 |
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1 USD = 0.8809 EUR
1 USD = 0.7692 GBP
1 USD = 1.3689 CAD
1 USD = 1.5296 AUD
1 USD = 104.3900 JPY
1 USD = 4.6898 BRL
1 USD = 72.1753 RUB
1 USD = 6.9492 CNY
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1 CAD = 0.7304 USD
1 CAD = 0.5618 GBP
1 CAD = 0.6434 EUR
1 CAD = 1.1173 AUD
1 CAD = 76.2500 JPY
1 CAD = 3.4254 BRL
1 CAD = 52.7173 RUB
1 CAD = 5.0758 CNY
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Currency Rates Chart
Equities of the Largest Breweries
Mexico: Mexicans to vote on new Constellation Brands brewery in Mexicali this month
...Click here
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USA, CT & CA: Athletic Brewing Company acquires assets of former Ballast Point “Trade Street” facility
...Click here
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USA, KY: The first two breweries since prohibition coming to Owensboro at the same time
...Click here
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USA, CA: Social Kitchen and Brewery closes its doors in San Francisco
...Click here
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USA, TX: New Main Brewing Co. set to close its doors on March 15
...Click here
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USA, AL: Straight to Ale continues to grow with the purchase of Salty Nut Brewery
...Click here
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USA, NY: Beer Tree Brew Co. preparing to open in Johnston City by the end of summer
...Click here
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USA, SC: Nautic Brewing abandons plans for Greenville location
...Click here
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Brazil: Ambev planning 2 bln reais investment in new plants in Brazil
...Click here
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The Philippines: San Miguel Food & Beverage reports 2019 profit rise thanks to strong beer sales and growth in food division
...Click here
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China: Tsingtao Brewery embarks on capacity expansion project
...Click here
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Brazil: Heineken to expand its Parana brewery in Brazil
...Click here
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Japan: Suntory warns of coronavirus hit to alcohol consumption
...Click here
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India: Carlsberg looking to resolve commercial dispute with JV trade partner
...Click here
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UK: One in three young adults cuts down on alcohol consumption - Siba
...Click here
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India: Zero-alcohol beer gradually becoming new rage in India
...Click here
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New Zealand: New Zealand Whisky Co to begin production at Lion's Speight's Brewery
...Click here
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Graph of the Week
Table of the Week
EU Barley Production Forecast
Prices Evolution
Barley Prices
Theoretical Malt Prices
These Days in Business History
09 March
1861 - Confederate currency authorized-$50, $100, $500, $1,000
1959 - 1959 Barbie, the popular girls' doll, debuted, over 800 million sold
1987 - 1987 Chrysler Corp offered to buy American Motors Corp for $1 billion
10 March
1862 - U.S. issues 1st paper money ($5, $10, $20, $50, $100, $500 and $1000)
1982 - President Reagan proclaims economic sanctions against Libya
1995 - Dow-Jones hits record 4035.64
2000 - The Nasdaq Composite stock market index peaks at 5132.52, signaling the beginning of the end of the dot-com boom
11 March
1702 - 1st English daily newspaper "Daily Courant," publishes
1935 - Bank of Canada opens
1986 - 187.27 million shares traded in New York Stock Exchange
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)
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)
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)
01 - 03: Craft Beer China 2020 (Shanghai, China)
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:
01 - 03: Modern Brewing Technologies 2020 (Moscow, Russia)
02 - 04: Beviale Moscow 2020 (Moscow, Russia)
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
Mexico: Mexicans to vote on new Constellation Brands brewery in Mexicali this month
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Mexican President Andres Manuel Lopez Obrador on March 9 said a public vote will be held on March 21-22 on whether to let U.S. company Constellation Brands Inc open a brewery in northern Mexico, Yahoo Finance reported.
The more than $1 billion brewery in the border city of Mexicali would produce Corona and Modelo beers. It has been a bone of contention with local protest groups, which argue it will cause water shortages in one of Mexico’s driest regions.
Constellation Brands says the plant is not a risk to water supplies.
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USA, CT & CA: Athletic Brewing Company acquires assets of former Ballast Point “Trade Street” facility
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Connecticut-based craft non-alcoholic beer maker Athletic Brewing Company announced on March 10 the acquisition of the assets of the former Ballast Point “Trade Street” facility, as well as the close of a $17.5 million Series B funding round, Brewbound reported.
Athletic Brewing co-founder Bill Shufelt declined to disclose how much the company paid for the assets but said it will lease the 80,000 sq. ft. production facility, which does not have a taproom.
The news was first reported by Forbes.
The close of Athletic’s $17.5 million Series B funding round brings its total capital raised to around a little more than $20 million, from more than 60 angel investors.
In addition to the asset purchase, the latest round will go toward expanding Athletic’s team, adding a new high-speed canning line, paying for marketing expenses and expanding its distribution footprint into 10 states, including California, via Craft San Diego in June, and Texas.
The Series B funding round included “mission-oriented investors, experienced CPG operators, well-known entrepreneurs, major athletes, and other talented private individuals,” according to a press release. Leaders in the round included Timothy Barakett’s family office, TOMS Shoes founder Blake Mycoskie, sports business reporter Darren Rovell’s Tastemaker Capital, and Wheelhouse Entertainment.
“We’re just setting up Athletic
...More info on site
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USA, KY: The first two breweries since prohibition coming to Owensboro at the same time
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Big things are brewing in Western Kentucky. Two businesses will be the first to brew beer in Owensboro since prohibition, 14 News WFIE Evansville reported on March 6.
“The fact that Owensboro had currently zero breweries was we thought a good opportunity for us to come and introduce Owensboro to craft beer," said co-founder of Mile Wide Brewing Company, Kyle Tavares.
After three years of success at their location in Louisville, Mile Wide Brewery is making its way to Owensboro.
“Right now we’re waiting for our licenses to come through which could take up to four months," said Tavares.
Besides licensing, the owners say they'll be doing minimal renovations to the building formerly owned by CYO Brewery.
“It’s full steam ahead to do renovations and get the place ready to brew great beer and serve the people of Owensboro," said Tavares.
Mile Wide will brew a smaller selection of beers in Owensboro but also offer beers brewed out of their Louisville location. And just down Second Street another brewery will be opening its doors.
“We’re actually gonna be per square footage the largest brewery in Western Kentucky," said co-owner of Brew Bridge, Max Garvin.
The owners of Escape Today will be opening their own brewery called Brew Bridge.
“We
...More info on site
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USA, CA: Social Kitchen and Brewery closes its doors in San Francisco
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Social Kitchen and Brewery announced its imminent closure in a social media post on Friday, March 6, saying it would be shutting its doors permanently as of Saturday night, SFGate reported on March 7.
Social Brewery cited lease issues as the reason behind the closure in a Facebook post, writing, "It is with the heaviest of hearts that I am announcing that this Saturday, March 7th will be the final day of service here at Social Kitchen and Brewery. Ownership and the landlord were unable to agree upon a new lease and we are all suffering right now."
Social has been a part of the Inner Sunset since 2010, pairing its beers with an elevated bar bites menu. Former head brewer Kim Sturdavant was credited with pioneering the brut IPA during his time at Social Brewery, which then caught on with other beer makers.
Social's head brewer, Sean Halpin, told Hoodline that the decision to shutter was made on March 5. Saturday's event will be Social's way "to show appreciation to the neighborhood and everyone who supported us over the years, and just make it a positive thing," he said.
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USA, TX: New Main Brewing Co. set to close its doors on March 15
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New Main Brewing Co. in Pantego is set to close its doors on March 15 after negotiations with its landlord were unsuccessful, according to a Facebook post from the brewery.
The brewery and taproom opened in February 2018 in what used to be a gym. It often hosted community events, including performances by UT Arlington jazz students and a monthly speakeasy open mic.
The brewery was run by David Clark and his wife, Amanda Daniels, a UTA alumna. They sold craft beers from all over the U.S. and over a dozen custom brews.
“Please remember to drink local, and support the amazing people and businesses in your neighborhood,” the brewery wrote in the post. “Here’s to hoping our paths cross again.”
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USA, AL: Straight to Ale continues to grow with the purchase of Salty Nut Brewery
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Huntsville craft brewer Straight to Ale continues to grow with the purchase of Salty Nut Brewery, another craft brewery based in Huntsville. It’s the second recent brewery acquisition for Straight to Ale, which also bought Druid City Brewery of Tuscaloosa in late 2019, al.com reported on March 10.
Straight to Ale said in a statement that the purchase is “an effort to support the local craft beer scene while helping an important venue in the Huntsville community flourish.” Straight to Ale owner Dan Perry said, “I am a firm believer that working together makes you stronger."
Brent Cole, owner of Salty Nut Brewery, will continue with the company. “Straight to Ale has the capacity to take us further than we ever could, and faster," Cole said in a statement. "The goal of this partnership is to revive Salty Nut and get it back to the glory days, grow the brand, and get Salty Nut beers available in more places.”
Salty Nut Brewery was formed in 2011 and grew from a small warehouse brewery and taproom to its current location at Campus 805, a former school turned entertainment, food and craft brewing center. “Salty Nut has a great taproom space and the most amazing
...More info on site
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USA, NY: Beer Tree Brew Co. preparing to open in Johnston City by the end of summer
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A Broome County craft brewer that's preparing to open a site in the Oakdale Mall now is looking to set up an establishment in downtown Binghamton, wnbf.com reported on March 9.
Beer Tree Brew Co. of Port Crane hopes to open its Johnson City site by the end of summer.
Co-founder Chris Rhoades says the company has leased a 3,000-square-foot space on Washington Street downtown.
The location is part of the 20 Hawley Street complex that had been built as part of Marine Midland Plaza in the early 1970s. It's just north of the Floyd L. Maines Veterans Memorial Arena.
Speaking on WNBF's Binghamton Now program, Rhoades said Beer Tree plans to bring "a different style of food" not currently available in the Binghamton area.
Rhoades said some brewing is planned for the site. He said Beer Tree intends to create a "souring facility" to produce "barrel-aged sours with a lot more complexity" than the company is currently making.
Rhoades said work at the downtown location could get underway in the "next couple of weeks."
Meanwhile, construction is moving forward in the former Sears building at the north end of the Oakdale Mall.
Rhoades said Beer Tree, which opened in Port Crane in October 2017, has expanded at
...More info on site
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USA, SC: Nautic Brewing abandons plans for Greenville location
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Plans to open a microbrewery next to Miracle Hill's rescue mission defined the clash of identity that has come with the creation of the $61.5 million Unity Park west of downtown Greenville, The Greenville News reported on March 10.
But after months of protest and hand-wringing over city zoning laws, plans for the brewery are no more.
Nautic Brewing, the vision of three local entrepreneurs, has abandoned plans in large part because of the cost of litigation brought by Miracle Hill, one of the investors told The Greenville News.
"They basically threw a lot of money to tie us into a legal situation,” said Steve Schofield, who took the lead on the project that would have opened the brewery on South Hudson Street yards from the mission. "We’re a small business and couldn’t keep up and had to back up. They basically told us they were going to make our lives hell."
The conflict erupted nearly a year ago when Miracle Hill learned that the city had permitted the brewery under existing zoning laws that predated the beginning of construction of Unity Park.
The mission, which operated at the corner of West Washington and South Hudson street for nearly two decades and longer than that
...More info on site
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Brazil: Ambev planning 2 bln reais investment in new plants in Brazil
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Ambev SA plans to invest 2 billion reais ($432 million) opening new plants in Brazil, where it faces tougher competition as Heineken NV has
...More info on site
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The Philippines: San Miguel Food & Beverage reports 2019 profit rise thanks to strong beer sales and growth in food division
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San Miguel Food & Beverage Inc. said 2019 net profit rose 6%, driven by strong beer sales and growth in its food division, Morningstar.com
...More info on site
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China: Tsingtao Brewery embarks on capacity expansion project
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The Tsingtao Brewery Co., Ltd., one of China's largest breweries, began to set up smart manufacturing lines on March 10 to expand its capacity
...More info on site
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Brazil: Heineken to expand its Parana brewery in Brazil
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Heineken NV will invest 865 million reais ($183.14 million) to expand its Ponta Grossa brewing plant in Brazil, the company said on March 9,
...More info on site
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Japan: Suntory warns of coronavirus hit to alcohol consumption
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The chief executive of Suntory has warned that the coronavirus outbreak is hitting alcohol consumption, which will eventually impact on profits at the third-largest
...More info on site
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India: Carlsberg looking to resolve commercial dispute with JV trade partner
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Carlsberg is looking to resolve a commercial dispute with its joint venture partner in India, an executive said on March 9, amid an internal probe into the firm's local sales practices that sparked a boardroom battle and concerns from its auditor, the Business Standard reported.
Global auditor PwC's local affiliate recently declined to give an opinion on Carlsberg's 2018-19 India results, citing divergent views from three of the brewer's India board members who did not sign-off on the financials, alleging regulatory lapses, a regulatory filing from February shows.
Steve Deng, Carlsberg's Corporate Affairs Director for Asia, told Reuters via e-mail that many of the issues were the result of an "unusual and difficult" commercial conflict with its Indian joint venture partner, Nepal-based Khetan Group.
"This is a shareholder dispute between us and our JV partner ... We look forward to an early resolution of the commercial dispute," Deng said in his e-mail.
Deng did not fully detail the dispute, but last week told India's Economic Times newspaper it revolved around repayment of a loan owed to Carlsberg by its partner and the partner's wish to sell its stake in the business at "an unreasonably high price".
Khetan Group has not commented publicly. C.P. Khetan, who
...More info on site
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UK: One in three young adults cuts down on alcohol consumption - Siba
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So-called “nolo” drinks have been tipped to be the UK’s biggest trend for 2020, according to a report, driven by 18-24 year-olds drinking less alcohol or switching to no or low-alcohol substitutes, The Guardian reported on March 11.
The annual British craft beer report, due to be published by small brewers’ trade body the Society of Independent Brewers (Siba) on Thursday, March 12 will reveal that one in three young adults have cut down on their alcohol consumption while a record 23% are now teetotal.
The popularity of the burgeoning sector – set to be one of the fastest growing parts of the beer market this year in the quest to satisfy the thirst for nights out without a hangover – has toppled craft beer from the top slot where it has reigned for the past five years.
In the UK consumers drink around 8 billion pints every year, yet only 7% of all the beer drunk is from small independent craft brewers, of whom 750 are members of Siba.
The report said there has been a 30% leap in sales of no or low-alcohol beers since 2016, with consumers increasingly expecting to have a wider range in pubs and bars. A separate study
...More info on site
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India: Zero-alcohol beer gradually becoming new rage in India
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The zero-alcohol beer is being tipped as the next big thing in the global market as an increasing number of people are choosing to abandon mainstream lagers in favour of healthier alternatives, the Financial Express reported on March 8.
At a Diwali party hosted by his cousin, 25-year-old Raghav Anand, a New Delhi-based businessman, absentmindedly opened a can of his favourite Heineken beer and finished almost half of it before noticing the bemused expressions around him. “Everybody asked me why I had chosen a non-alcoholic beer when there were alcoholic variants available… That’s when I realised I was having Heineken 0.0 (an alcohol-free malt beverage by the brand) and not just my regular, good old beer,” laughs Anand, adding, “But the resemblance in the taste was uncanny… It tasted the same as beer except that it was healthier… I have its six-pack stock at home at all times now.”
The zero-alcohol beer is being tipped as the next big thing in the global market as an increasing number of people are choosing to abandon mainstream lagers in favour of healthier alternatives. The world’s biggest brewers, Anheuser-Busch InBev (AB InBev) and Heineken, sensed this change and came up with non-alcoholic versions of their
...More info on site
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New Zealand: New Zealand Whisky Co to begin production at Lion's Speight's Brewery
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The New Zealand Whisky Co. has entered into a lease agreement with Lion NZ which will facilitate production at Dunedin’s Speight’s Brewery, Inside FMCG reported on March 9.
Works have begun at the brewery’s millhouse to support the creation of brands such as Dunedin DoubleWood, South Island Single Malt and The Oamaruvian.
“Both the whisky category, and new-world whisky in particular, are experiencing fabulous demand. We believe that by working with Speight’s to unlock the enormous potential around the Speight’s Brewery property, we can go a long way to creating more world-class whisky, and deliver a distillery destination of international acclaim,” Whisky co-founder Greg Ramsay said.
“While we also have grand plans for our new Oamaru Bondstore and Bar, which will remain a key cellar-door and maturation warehouse, it’s great to be moving the physical distilling into such a diverse large-scale property.”
The New Zealand Whisky Co. will also source some production inputs from Speight’s. Ramsay said they are currently working with Speight’s brewers to create their own wash, which is a sweet un-hopped beer that is used for distilling single malt whiskies.
“Now in its 10th year, the resurrection and ongoing expansion of New Zealand’s whisky industry is a real Kiwi success story that
...More info on site
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