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Flash Summary
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E-Malt.com Flash 18a
April 27 - April 29, 2020
Quote of the Week
Great effort springs naturally from great attitude.
Pat Riley
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Currency Rates
Base Currency: Euro
on April 29, 2020 |
Base Currency: US Dollar
on April 29, 2020 |
| |
1 EUR = 1.0838 USD
1 EUR = 0.8711 GBP
1 EUR = 1.5178 CAD
1 EUR = 1.6723 AUD
1 EUR = 115.9300 JPY
1 EUR = 6.0595 BRL
1 EUR = 80.4553 RUB
1 EUR = 7.6742 CNY
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|
1 USD = 0.9225 EUR
1 USD = 0.8037 GBP
1 USD = 1.4004 CAD
1 USD = 1.5428 AUD
1 USD = 106.9500 JPY
1 USD = 5.5908 BRL
1 USD = 74.2316 RUB
1 USD = 7.0805 CNY
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Currency Rates Chart
Equities of the Largest Breweries
Average Market Prices Change Trend
| April 29, 2020 |
French Barley/Malt
Crop 2019
Bulk |
EUR/T |
% |
| 2RS Malting Barley (FOB Creil) |
157.50-159.50 |  0.63% |
| 6RW Malting Barley (FOB Creil) |
156.00-158.00 |  |
| Feed Barley (FOB Creil) |
153.00-155.00 | 1.28% |
| 2RS Malt (FOB Antwerp) |
351.50-353.50 | 0.35% |
| 6RW Malt (FOB Antwerp) |
349.50-351.50 | |
French Barley/Malt
Crop 2020
Bulk |
EUR/T |
% |
| 2RS Malting Barley (FOB Creil) |
169.50-171.50 | 0.58% |
| 6RW Malting Barley (FOB Creil) |
165.00-167.00 | |
| 2RS Malt (FOB Antwerp) |
362.50-364.50 | 0.34% |
| 6RW Malt (FOB Antwerp) |
357.50-359.50 | |
German Malting Barley
Crop 2019
Bulk
Ex Farm |
EUR/T |
% |
| Average Malting Barley Price |
nq | |
Danish Malting Barley
Crop 2019
Free on truck
Ex Farm |
DKK/T |
% |
| Malting Barley (East) |
1,074.00-1,076.00 | 1.83% |
| Malting Barley (West) |
1,104.00-1,106.00 | 1.78% |
No change;
 Price increase;
Price decrease versus last publication.
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Click here to see our Market Prices History.
The Czech Republic: State to refund excises on unsold beer
...Click here
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India: Brewers seek partial resumption of operations and propose sale of beer through e-commerce
...Click here
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USA: Boston Beer’s Q1 earnings miss analysts’ estimates by wide margin
...Click here
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USA: Constellation Brands prices offering of senior notes
...Click here
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UK: Downturn in whisky production could impact demand for malting barley
...Click here
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Uganda: Nile Breweries warns of possible drop in tax contributions
...Click here
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Belgium: Brussels’ En Stoemelings brewery successfully adapts to lockdown
...Click here
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USA & Canada: AB InBev, Molson Coors Brewing dodge antitrust suit over imports to Canada
...Click here
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UK: Budweiser Brewing Group UK&I launches Budweiser Zero and Stella Artois Alcohol Free within its no- and low-alcohol portfolio
...Click here
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Graph of the week
Table of the week
Africa Barley Imports, Production, Consumption, and Stocks
Prices Evolution
Barley Prices
Theoretical Malt Prices
Scientific Digest
ANTIVIRAL ACTIVITY OF HOP CONSTITUENTS AGAINST A SERIES OF DNA AND RNA VIRUSES
ABSTRACT
Already in 2004, a US Research Team found a number
of viruses that can be influenced and suppressed by hop
components. They investigated whether hop extracts and
purified hop components have antiviral activity. These hop
constituents were tested for antiviral activity against bovine
viral diarrhea virus (BVDV) as a surrogate model of hepatitis
C virus (HCV), human immunodeficiency virus (HIV), influenza A virus (FLU-A), influenza B virus (FLU-B), rhinovirus
(Rhino), respiratory syncytial virus (RSV), yellow fever virus
(YFV), cytomegalovirus (CMV), hepatitis B virus (HBV),
and herpes simplex virus type 1 (HSV-1) and type 2 (HSV2). The extracts all failed to prevent the replication of HIV,
FLU-A, FLU-B, RSV and YFV. However, a xanthohumol-enriched hop extract displayed weak to moderate antiviral
activity against BVDV with IC(50) (required amount for
suppression below 50%) values in the low microg/ml range.
Pure iso-alpha-acids demonstrated low to moderate antiviral
activity against both BVDV and CMV, also with low IC(50)
values. No antiviral activity was detected using beta-acids
or a hop oil extract. Xanthohumol as an individual component accounted for the antiviral activity observed against
BVDV, HSV-1 and HSV-2. xanthohumol was found to be a
more potent antiviral agent against these viruses than the
isomer iso-xanthohumol. For Rhino, the opposite trend was
observed, with iso-xanthohumol showing superior antiviral
activity to that observed with xanthohumol. Xanthohumol
also showed antiviral activity against CMV, suggesting that
it might have a generalized anti-herpesvirus antiviral activity. Again, superior antiviral activity was observed with the
xanthohumol isomer against CMV. In summary, iso-alpha-acids and xanthohumol were shown to have a low-to-moderate
antiviral activity against several viruses.
REFERENCES:
Buckwold VE, et al: Antiviral activity of hop constituents against a series of DNA and RNA
viruses. Antiviral Res. 2004 Jan;61(1):57-62., DOI: 10.1016/s0166-3542(03)00155-4
Source: Barth Innovations
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These Days in Business History
27 April
1914 - W. H. Carrier patents air conditioner
1925 - Netherlands and Great Britain return to gold standard
1981 - Xerox PARC introduces the computer mouse
2005 - Airbus A380 makes its first flight from Toulouse, France
28 April
1686 - 1st volume of Isaac Newton's "Principia" published
1989 - Argentina, hit by rocketing inflation, runs out of money
2001 - Dennis Tito becomes the first space tourist by paying $20 million to fly on a Soyuz mission to the International Space Station
29 April
1813 - Rubber is patented
1910 - The Parliament of the United Kingdom passes the People's Budget, the first budget in British history with the expressed intent of redistributing wealth among the British public
1913 - Swedish engineer Gideon Sundback of Hoboken patents all-purpose zipper
1953 - The first U.S. experimental 3D television broadcast showed an episode of Space Patrol on Los Angeles ABC affiliate KECA-TV
1977 - British Aerospace forms
Agenda
June 2020:
09 - 12: Aro Rojo International Beer Cup 2020 (Tampico, Mexico)
21 - 22: Planete Biere 2020 (Paris, France)
July 2020:
01 - 03: Craft Beer China 2020 (Shanghai, China)
29 - 31: Beviale Mexico 2020 (Guadalajara, Mexico)
30 - 01 August: Korea International Beer Expo 2020 (Seoul, South Korea)
August 2020:
01 - 04: World Brewing Congress 2020 (Minneapolis, USA)
September 2020:
02 - 04: Beviale Moscow 2020 (Moscow, Russia)
02 - 04: Modern Brewing Technologies 2020 (Moscow, Russia)
02 - 05: Expo Trade, Brewers Conference & Mar del Plata Beer Week 2020 (Mar del Plata Argentina)
03 - 05: Zurich Bier Festival 2020 (Zurich, Switzerland)
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)
11 - 13: Mondial de la Biere - Paris 2020 (Paris, France)
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)
24 - 26: Great American Beer Festival 2020 (Denver, USA)
24 - 26: Stockholm Beer & Whisky Festival 2020 (Stockholm, Sweden)
October 2020:
02 - 03: Stockholm Beer & Whisky Festival 2020 (Stockholm, Sweden)
08 - 11: Mondial de la Biere 2020 (Montreal, Canada)
13 - 16: China Brew & China Beverage (CBB) 2020 (Shanghai, China)
14 - 16: Expo Antad & Alimentaria Mexico 2020 (Expo Guadalajara, Mexico)
23 - 25: Cerveza Mexico Expo 2020 (Mexico City, Mexico)
29 - 30: Sea Brew 2020 (Taipei, Taiwan)
November 2020:
04 - 07: VIETFOOD & BEVERAGE - VIETNAM 2020 (Ho Chi Minh City, Vietnam)
10 - 12: Brau Beviale 2020 (Nuremberg, Germany)
11 - 11: European Beer Star 2020 - Award Ceremony & Winners' Night (Munich, Germany)
13 - 14: Beervana 2020 (Wellington, New Zealand)
18 - 18: Brussels Beer Challenge 2020 (Brussels, Belgium)
25 - 27: Drink Japan 2020 (Tokyo, Japan)
December 2020:
09 - 11: Drink Technology India 2020 (Mumbai, India)
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Brewery News
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USA: Take-home beer sales continue to soar
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US take-home sales of beer have continued to soar as Americans are forced to drink at home by the shutdown of bars restaurants and clubs to combat Covid-19, The Drinks Business reported on April 29.
Nielsen data show beer sales (including flavoured malts and cider) increased by 17.7% over the four weeks to April 28 and are up 13.1% over a 12-week period.
In the four weeks to April 28 sales of Anheuser-Busch InBev rose by 9.8%, Molson Coors by 8.6%, Constellation Brands by 21.9%, Heineken by 7.3%, Boston Beer by an astounding 60% and the Craft Brew Alliance by 3.2%.
Interestingly, the “other” category enjoyed a jump of 43.9% for the four weeks, indicating that the craft beer sector may be carving out some extra market share.
The brand favourites were Michelob Ultra (+24%), Blue Moon (+25%), Pacifico (25%) and Corona Extra (+15%).
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World: Heineken places EUR1.5 bln Notes
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Heineken N.V. announced on April 29 that it has successfully placed €650 million of 13-year Notes with a coupon of 1.25% and €850 million of 20-year Notes with a coupon of 1.75%.
The Notes will be issued under the Company's Euro Medium Term Note Programme and will be listed on the Luxembourg Stock Exchange.
The proceeds from the Notes issuance will be used for general corporate purposes. The maturity dates of the Notes are 7 May 2033 and 7 May 2040.
Barclays, Citi, ING, JP Morgan, and Santander acted as active book runners, ABN Amro and Rabobank as passive book runners, and ANZ, BBVA, CIC and Raiffeisen Bank International as co-managers.
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The Czech Republic: State to refund excises on unsold beer
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The Czech Republic parliament passed a bill on April 29 that would refund breweries their excise duties on beer that goes unsold because of the coronavirus pandemic, Bloomberg Tax reported.
The tax administration will judge refund requests case by case, and the beer will have to be either liquidated or reprocessed.
“We are glad that the finance ministry reacted quickly, and that this measure has been approved,” said Martina Ferencova, executive director of the Czech Association of Breweries and Malthouses.
The legislation is now heading to the president for signature.
With annual per-capita consumption in excess of 140 litres, the Czech Republic boasts the highest beer consumption in the world by volume, according to Ferencova, who spoke with Bloomberg Tax during a phone interview on April 29.
Sales of draft beer cratered after the Czech Republic closed March 14 bars and restaurants as part of emergency measures to contain the spread of Covid-19.
“Breweries are not only impacted by the drop in sales, but the situation is critical for us also in terms of current stocks of draught beer which we cannot sell,” Tomas Mraz, sales director at Asahi-owned Plzensky Prazdroj, the largest brewing group in the Czech Republic, said in an email.
“Liquidation is difficult and
...More info on site
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India: Brewers seek partial resumption of operations and propose sale of beer through e-commerce
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Leading beer companies United Breweries, Bira, Molson Coors, and Carlsberg, led by industry body All India Brewers’ Association (AIBA), have written fresh letters to chief minsters of eight states this weekend seeking partial resumption of brewing facilities and proposed sale of beer through e-commerce and home delivery platforms including Swiggy, Zomato, Amazon, Grofers and Flipkart, the Economic Times reported on April 27.
“COVID-19 has the potential to disrupt business for the rest of the year. It is imperative that state excise departments introduce policies that facilitate home delivery of beer, wine and alcohol,” the letters said.
AIBA, which has a member base of over 83 manufacturing breweries, proposed creating special licenses for private e-commerce and food delivery companies Flipkart, Amazon, Grofers, Zomato and Swiggy.
“Sale through e-commerce and home delivery will lead to reduced crowding at shops and ensure that beer sales and excise revenue is not impacted adversely,” the letters, signed by AIBA director general Shobhan Roy said.
State chief ministers the PM were scheduled to meet on April 27 to decide next steps on the lockdown.
“Stringent lockdown measures have brought our business to a complete standstill, especially in peak season of March-Junewhen almost 40% of the year’s sales and revenues are
...More info on site
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USA: Boston Beer’s Q1 earnings miss analysts’ estimates by wide margin
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Boston Beer missed analysts' earnings estimates by a wide margin in the first quarter as the fallout from the coronavirus pandemic upended the alcoholic beverages market, Nasdaq reported on April 27.
Restaurants, bars, and cafes have closed to enforce social-distancing measures and contain the spread of COVID-19. As a result, consumer demand for beer shifted to off-premise retailers like packaged goods stores and supermarkets.
That resulted in production at Boston Beer's breweries shifting from kegs, which are typically used by on-premise establishments, to cans and bottles. But because most of the brewer's carryout products are produced by third-party contract brewers, it ended up raising the company's expenses, leading to the earnings miss.
Demand for alcoholic beverages hasn't really let up. Arguably, similar to cigarettes, it even intensifies during times of economic stress.
That's why revenue at Boston Beer surged 31% from the year-ago period to $330.6 million, due primarily to a 32% increase in shipments. Even excluding the shipments that were brought in by the acquisition of Dogfish Head Brewing last summer, they rose over 27% year over year.
Similarly, depletions jumped 30% excluding Dogfish Head. Depletions are sales to distributors and retailers and are considered an industry proxy for consumer demand. They were
...More info on site
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USA: Constellation Brands prices offering of senior notes
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Constellation Brands, Inc., a leading beverage alcohol company, announced on April 23 that it priced the public offering of $1.2 billion aggregate principal amount of Senior Notes, consisting of $600.0 million of 2.875% Senior Notes due 2030 (the “2030 notes”) for a public offering price of 99.801% of the principal amount of the 2030 notes, and $600.0 million of 3.750% Senior Notes due 2050 (the “2050 notes”) for a public offering price of 99.286% of the principal amount of the 2050 notes (collectively, the “notes”) . The notes will be senior obligations that rank equally with all of Constellation’s other senior unsecured indebtedness.
Closing of the offering is expected to occur on April 27, 2020. Constellation intends to use the net proceeds from the offering to redeem prior to maturity its outstanding 2.250% senior notes due 2020 in the aggregate principal amount of $700.0 million and for general corporate purposes.
BofA Securities, Inc., Goldman Sachs & Co. LLC, and J.P. Morgan Securities LLC are acting as the joint book-running managers of the offering. The notes are being offered only by means of a prospectus, including a prospectus supplement, copies of which may be obtained by contacting BofA Securities, Inc. toll-free at (800)
...More info on site
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Uganda: Nile Breweries warns of possible drop in tax contributions
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Nile Breweries Limited-Uganda says its contribution to the national tax purse could fall significantly as the coronavirus lockdown disrupts alcohol transportation and sales. The company paid 394 billion shillings in taxes in the 2018/19 financial year, one of the highest amounts paid by a single company, the Independent reported on April 26.
Onapito Ekomoloit, the NBL Legal and Corporate Affairs Director, said the company is producing below 50 per cent since the time of the lockdown. The production reduced from the time the government took a decision to close bars, borders with neighbouring countries, and banned on parties, as one of the first enforcement measures to stop the spread of COVID-19.
But despite the measures, factories like NBL were still allowed to produce. However, Onapito says that they are having trouble selling what is produced as law enforcers tell their transporters that beer is not essential and their trucks shouldn’t be moving. This has seen a significant fall in beer sales which will consequently dent tax contribution.
Onapito says that their factories both in Mbarara and Jinja are open, with critical staff encamped at the factory. Most workers are at home using this time to take their annual leave,
...More info on site
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Belgium: Brussels’ En Stoemelings brewery successfully adapts to lockdown
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Brown bottles trundle along the conveyor belt. One by one, a machine fills them with beer. Then, the bottles are sealed with cap and labeled. This is the small En Stoemelings brewery, located in one of Brussels' industrial zones, the Taiwan News reported on April 26.
Since the Belgian government imposed a shutdown in mid-March to tackle the coronavirus pandemic, bars, cafes and many other businesses have closed down.
The measure dealt a severe blow to En Stoemelings co-founder and boss Samuel Languy and his team, who depend on selling their beer to Belgian establishments. The lion's share of his company, 90% in fact, relies on sales to bars, restaurants and the like.
"We didn't know what do to," he says. He faced the prospect of having to fire all his employees and halt beer production for the foreseeable future.
But that same day, Languy filled up his car with crates of beer and started delivering it to friends and acquaintances. It was an instant success, he said. "Since they suddenly had to stay at home, one of the first questions was — we are in Belgium, after all — 'where can I get my beer?'"
Languy then set up an online shop and started
...More info on site
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USA & Canada: AB InBev, Molson Coors Brewing dodge antitrust suit over imports to Canada
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AB InBev and Molson Coors Brewing don’t have to face revived claims over their alleged scheme to corner the market for high-volume US beer imports to Ontario, a Wisconsin federal judge ruled.
The lawsuit accused the brewing giants of conspiring to get Ontario’s provincial government to permit only Brewers Retail, a distribution consortium they control, to sell packages larger than six-packs, reported Bloomberg. BRI operates the Beer Store chain, which has a provincewide monopoly on high-quantity beer sales.
When Ontario considered letting state-run liquor stores expand beer sales beyond six-packs, AB InBev and Molson allegedly threatened a boycott. “The unfair agreement with The Beer Store puts the interests of three large global brewers ahead of Ontario consumers, taxpayers and small businesses. It’s a bad deal for people in Ontario who want more choice and convenience, and it’s deeply unfair to businesses who want to compete in this sector,” Ontario’s minister of finance, Vic Fedeli said in a statement at the time.
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UK: Budweiser Brewing Group UK&I launches Budweiser Zero and Stella Artois Alcohol Free within its no- and low-alcohol portfolio
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The AB InBev-owned Budweiser Brewing Group UK&I has announced the addition of two new beers to its no- and low-alcohol portfolio – Budweiser Zero and Stella Artois Alcohol Free.
The company highlighted that the new lines will enable retailers to tap into an alcohol-free beer and cider market that has grown 147% since 2015 and is now worth £77.4 mln a year for the off-trade (Nielsen, year to 28 December 2019).
Stella Artois Alcohol Free has zero alcohol and 60 calories. It follows the launch of Stella Artois Gluten Free in 2018, certified by Coeliac UK.
Meanwhile, the brewer claims that Budweiser Zero, at zero alcohol, zero sugar and 46 calories, offers the same iconic taste of standard Budweiser. Bud Zero will take over the listings formerly held by Bud Prohibition, although it is a different recipe.
The Budweiser Brewing Group already brews alcohol-free beers such as Beck’s Blue – the biggest non-alcoholic brand in the Off-Trade, accounting for 21.4% of all sales, and low alcohol options including Bud Light and Michelob ULTRA, both brewed to 3.5% ABV.
The expansion of its no and low portfolio is part of the company’s ‘Global Smart Drinking Goals’. These include a pledge that 20% of the brewer’s global
...More info on site
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Barley News
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Russia: Russia suspends grain exports until July 1
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Russia, the world's largest wheat exporter, is suspending grain exports, including wheat, rye, barley and corn until July 1, the ministry of agriculture said
...More info on site
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UK: Downturn in whisky production could impact demand for malting barley
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Farming leaders have raised fears with the Scottish Government that a downturn in whisky production as a result of Covid-19 restrictions will have an impact on demand for malting barley and create storage issues come harvest time, the Press and Journal reported on April 26.
This year’s spring barley crop has been sown in exceptionally good conditions, but NFU Scotland’s crops chairman, Willie Thomson warned Rural Economy Secretary Fergus Ewing this week that unless distilleries can get back to full production with safe social distancing in place for workers, the consequences for growers and maltsters will be serious.
“We understand the blip in production, but if shut-downs continue there will be trouble coming down the track,” he said.
“I’m confident the Scottish Government is listening to our fears, and they have confirmed officials will be sitting on our conference call with the Scotch Whisky Association (SWA) and the supply chain next week.”
Mr Thomson, who farms at Wheatrig near Haddington, said he was concerned about storage capacity come harvest time.
“Grain that was expected to have been used in the drinks industry or as animal feed by now is building up in commercial stores but those will need to be cleared and ready to accept
...More info on site
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 Whisky News
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World: Diageo launces $2.5 bln bond offering
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Diageo, the world’s largest spirits maker, launched a $2.5 billion bond offering on April 28, weeks after suspending its share buyback programme in response to the coronavirus crisis, Reuters reported.
The Johnnie Walker whisky maker said the offering will be in three tranches: $750 million at a fixed rate of 1.375% due 2025, $1 billion at 2% due 2030 and another $750 million at 2.125% due 2032.
It plans to use the proceeds for general corporate purposes.
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