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E-Malt.com Flash 08a February 22 - February 24, 2021
Quote of the Week
It's hard to beat a person who never gives up.
Babe Ruth
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![](http://e-malt.com/images/Euro.gif)
Currency Rates
Base Currency: Euro on February 24, 2021 |
Base Currency: US Dollar on February 24, 2021 |
|
1 EUR = 1.2156 USD
1 EUR = 0.8629 GBP
1 EUR = 1.5318 CAD
1 EUR = 1.5368 AUD
1 EUR = 127.8500 JPY
1 EUR = 6.6290 BRL
1 EUR = 90.0302 RUB
1 EUR = 7.8549 CNY
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1 USD = 0.8225 EUR
1 USD = 0.7098 GBP
1 USD = 1.2601 CAD
1 USD = 1.2641 AUD
1 USD = 105.1700 JPY
1 USD = 5.4532 BRL
1 USD = 74.0611 RUB
1 USD = 6.4616 CNY
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![](http://e-malt.com/images/Euro.gif)
Currency Rates Chart
![](http://e-malt.com/images/Euro.gif)
Equities of the Largest Breweries
Average Market Prices Change Trend
February 24, 2021 |
French Barley/Malt Crop 2020 Bulk |
EUR/T |
% |
2RS Malting Barley (FOB Creil) |
212.00-214.00 | 0.47% |
6RW Malting Barley (FOB Creil) |
206.00-208.00 | ![-](http://www.e-malt.com/Images/Constant.jpg) |
Feed Barley (FOB Creil) |
207.00-209.00 | ![-](http://www.e-malt.com/Images/Constant.jpg) |
2RS Malt (FOB Antwerp) |
417.50-419.50 | 0.30% |
6RW Malt (FOB Antwerp) |
410.00-412.00 | ![-](http://www.e-malt.com/Images/Constant.jpg) |
French Barley/Malt Crop 2021 Bulk |
EUR/T |
% |
2RS Malting Barley (FOB Creil) |
211.00-213.00 | 0.47% |
6RW Malting Barley (FOB Creil) |
203.00-205.00 | 0.99% |
2RS Malt (FOB Antwerp) |
414.00-416.00 | 0.30% |
6RW Malt (FOB Antwerp) |
404.00-406.00 | 0.61% |
German Malting Barley Crop 2020 Bulk Ex Farm |
EUR/T |
% |
Average Malting Barley Price |
nq | |
Danish Malting Barley Crop 2020 Free on truck Ex Farm |
DKK/T |
% |
Malting Barley (East) |
1,404.00-1,406.00 | ![-](http://www.e-malt.com/Images/Constant.jpg) |
Malting Barley (West) |
1,404.00-1,406.00 | ![-](http://www.e-malt.com/Images/Constant.jpg) |
No change;
Price increase;
Price decrease versus last publication.
|
Click here to see our Market Prices History.
Japan: Brewers expect better profits thanks to launch of vaccination campaign
...Click here
|
Hungary: Biggest brewers’ sales drop by 7.5% last year
...Click here
|
Argentina & China: Argentina’s barley exports to China set to soar to a record this year
...Click here
|
Japan: Craft beer industry battered by COVID-19 pandemic
...Click here
|
Jamaica: Maker of Red Stripe beer partially restores impaired asset values
...Click here
|
South Africa: Beer Association of South Africa calls for tax relief
...Click here
|
India: Carlsberg finds evidence of potential unethical practices in breach of its group policies in the past
...Click here
|
India: United Spirits to start strategic review of several of its mass-priced brands
...Click here
|
UK: Consumers angered by Stella Artois reducing amount of alcohol
...Click here
|
Spain: Heineken to eliminate 106 jobs in Andalucian and Sevillan businesses
...Click here
|
UK: German and Belgian specialist brews in shortage as a result of Brexit red tape and Covid-19
...Click here
|
Graph of the week
Table of the week
Spain Beer Production 2018 - 2020
Prices Evolution
Barley Prices
Theoretical Malt Prices
These Days in Business History
22 February
1923 - Transcontinental airmail service begins
1989 - New York Lotto pays $26.9 million to one winner
2006 - Apple's iTunes store sells its 1 billionth song
23 February
1886 - Aluminum manufacturing process developed
1886 - London Times publishes world's 1st classified ad
1965 - Michael Dell is born. He later drops out of the University of Texas at Austin to found Dell Computer Corp. with the radical idea of assembling made-to-order computers
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
Agenda
February 2021:
23 - 24: IBD Asia Pacific Convention 2021 (Online)
March 2021:
16 - 16: Beviale Mexico 2021 (Online)
16 - 18: Beviale Moscow 2021 (Moscow, Russia)
23 - 23: Beviale Mexico 2021 (Online)
30 - 30: Beviale Mexico 2021 (Online)
April 2021:
12 - 14: Beer & Food Attraction 2021 (Rimini, Italy)
16 - 18: Cerveza Mexico Expo 2021 (Mexico City, Mexico)
16 - 18: Barcelona Beer Festival 2021 (Barcelona, Spain)
20 - 20: EBC Symposium 2021 (Online)
30 - 02 May: Finest Spirits 2021 (Munich, Germany)
May 2021:
12 - 14: Craft Beer China 2021 (Shanghai, China)
17 - 23: Budapest Beer Week 2021 (Budapest, Hungary)
18 - 20: Beer 2021 (Sochi, Russia)
27 - 29: Copenhagen Beer Festival 2021 (Copenhagen, Denmark)
27 - 30: Wiener Bierfest 2021 (Vienna, Austria)
June 2021:
08 - 09: Bev Expo 2021 (Manchester, UK)
13 - 15: Bangkok Brewing Conference 2021 (Bangkok, Thailand)
15 - 17: Brasil Brau 2021 (Sao Paulo, Brazil)
July 2021:
01 - 03: Helsinki Beer Festival 2021 (Helsinki, Finland)
13 - 15: Fdt Africa 2021 (Midrand, South Africa)
August 2021:
06 - 07: Tallinn Craft Beer Weekend 2021 (Tallinn, Estonia)
12 - 14: VIETFOOD & BEVERAGE - VIETNAM 2021 (Ho Chi Minh City, Vietnam)
September 2021:
09 - 12: Craft Brewers Conference & BrewExpo America 2021 (Denver, Colorado, USA)
16 - 18: Zurich Bier Festival 2021 (Zurich, Switzerland)
18 - 03 October: Oktoberfest 2021 (Munich, Germany)
22 - 24: Beer and Soft Drinks Industry 2021 (Kyiv, Ukraine)
October 2021:
04 - 08: Drinktec 2021 (Messe München, Munich, Germany)
07 - 10: Mondial de la Biere 2021 (Montreal, Canada)
13 - 15: Drink Japan 2021 (Makuhari Messe, Japan)
17 - 20: 14th International Trends in Brewing 'Beer & Society' 2021 (Leuven, Belgium)
November 2021:
04 - 05: Sea Brew 2021 (Taipei, Taiwan)
December 2021:
07 - 08: Brewers Congress 2021 (The Brewery, 52 Chiswell Street, London, UK)
February 2022:
11 - 14: HoReCa 2022 (Athens, Greece)
Brewery News
|
Japan: Brewers expect better profits thanks to launch of vaccination campaign
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Japanese beer makers expect better profits this year as COVID-hit restaurants see demand rising after the country's vaccination campaign takes hold, the Nikkei Asia
...More info on site
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Hungary: Biggest brewers’ sales drop by 7.5% last year
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Sales volume of Hungary's biggest brewers fell 7.5% to 6,177,000 hectolitres last year, although an increase in exports mitigated the decline, the head of
...More info on site
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Germany: Brewers forced to throw away unsold beer
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German brewers have been forced to throw away unsold beer and have asked the government for financial aid as the coronavirus lockdown reduces demand, Reuters reported on February 22.
German pubs, hotels and restaurants have been closed since November in the country's second lockdown following the first one earlier last year.
The brewers called on the German government to give beer breweries aid under the country's programmes to help industry recover from the impact of the coronavirus crisis. Germany's government has given financial aid to pubs and bars but not breweries.
"From week to week, ever more breweries, brewery-owned pubs and wholesalers are facing a threat to their existence through no fault of their own and are threatened by insolvency," said an open letter from about 300 breweries released by the brewers' associations DBB and VPBD.
The letter was signed by breweries including Carlsberg Deutschland, a unit of Danish brewer Carlsberg, the Bitburger Braugruppe, Krombacher and Paulaner Brauerei.
"The lockdown and the collapse of the draught beer market this created meant breweries lost a large part of their economic foundations overnight," the letter said.
"Stock worth many millions of euros that has exceeded its sell-by date has had to be thrown away."
Sales of bottled beer in
...More info on site
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Japan: Craft beer industry battered by COVID-19 pandemic
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The COVID-19 pandemic has battered Japan’s craft beer industry at a time when a number of small breweries were finding their niche, the Asahi Shimbun reported on February 19.
With an absence of tourists and regular customers following authorities’ “stay home” requests, craft beer breweries have been forced to curtail operations, change their business strategies or simply shut down.
Mame Mame Brewery, located on Shodoshima island in the Seto Inland Sea in Kagawa Prefecture, has produced beer from local ingredients, such as “moromi” (unrefined soy sauce). Its beverages were gaining in popularity among tourists and homecoming visitors.
But spread of the novel coronavirus ended that run.
According to Shodoshima’s tourism association, the number of passengers using ferries to get to and from the island dwindled by 35 percent in December 2020 from the same month of the previous year.
“I would be happy for a quick return of the days when people felt free to drink beer here,” Masaya Nakata, a brewer at the company, said.
Until then, the brewery will have to rely on sales over the internet and customers who have purchased a membership that comes with a monthly shipment of beer with snacks.
Small-scale production of craft beer, often called “jibiiru,” was allowed under
...More info on site
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Jamaica: Maker of Red Stripe beer partially restores impaired asset values
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Desnoes & Geddes Limited, D&G, the maker of Red Stripe beer, has written back a portion of the assets previously classified as impaired as the pandemic raged and alcohol markets faltered, The Gleaner reported on February 19.
The brewery, which trades as Red Stripe Jamaica, has reclaimed €38 million, or $7 billion in local currency, of the €138-million impairment charge booked against its assets last year.
Managing Director Luis Prata said the reassessment relates to improvements in country risk, which is one of the factors incorporated in the estimate of their weighted average cost of capital, or WACC.
In the second half of 2020, Jamaica’s risk premium per credit rating category went down, said Red Stripe, concurrent with the improved country outlook.
“In April, the country risk premiums were higher than usual due to COVID-19,” Prata told the Financial Gleaner. “The reduced impairment is indeed due to the improvement in country risk, rather than an underlying improvement of our business compared to the forecasts mid-year,” he said.
Before the pandemic, Red Stripe projected rising sales and return on capital. But as the year progressed and the coronavirus spread, and beer sales fell, market disclosures by parent Heineken International took a more bearish turn towards an
...More info on site
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South Africa: Beer Association of South Africa calls for tax relief
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The Beer Association of South Africa (Basa) has called on finance minister Tito Mboweni to offer the industry some tax relief ahead of his budget speech on February 24, SowetanLIVE reported.
The association‚ whose members include the Craft Brewers' Association of SA‚ Heineken SA and SA Breweries (SAB)‚ said tax relief is the least the government can do to help its members‚ whose businesses have been devastated by the three bans on alcohol trading.
“To help rebuild the local beer industry‚ we are calling on minister Mboweni to make a commitment not to increase excise taxes for the forthcoming financial year‚” said the association.
“At the very least‚ we call on him to commit to a below-inflation increase in excise taxes on beer. We need to save jobs and livelihoods‚ but we cannot do so without any targeted relief from government.”
Basa said small craft breweries were hit the hardest by the three blanket bans on alcohol and most have no certainty of survival beyond the end of February.
Basa also pleaded with the government to assist traders with financial relief and to allow them to renew their liquor licences.
“Our small businesses and craft breweries have been left up the creek without a paddle and
...More info on site
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India: Carlsberg finds evidence of potential unethical practices in breach of its group policies in the past
|
Carlsberg said it found evidence of potential unethical practices in breach of its group policies in India after an investigation conducted during 2019 and 2020, forcing them to strengthen their compliance practices. In its latest global annual report, Carlsberg said the breach was in the period up to 2018. The investigations was done by Shardul Amarchand Mangaldas and and Ernst and Young, the Economic Times reported on February 23.
"Actions taken included disciplinary measures for implicated employees still at the company, and strengthening of compliance and internal controls," the Danish brewer said, adding that the audit was being conducted under the supervision of Carlsberg Group’s global integrity committee.
"In addition, we conducted an India wide internal audit of the process for obtaining permits and licences. This showed a clear improvement in behaviour over time, as well as identifying opportunities to further strengthen controls."
The maker of Tuborg also clarified it had also identified a case involving underage labourers and non-compliant working conditions in a warehouse operated by a third party and terminated their contract in 2018.
Carlsberg, which entered the Indian market in 2006 through a joint venture with Nepal-based Khetan Group, is engaged in a commercial conflict with the partner. Last year, ET
...More info on site
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UK: Consumers angered by Stella Artois reducing amount of alcohol
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Stella Artois has angered beer-loving Brits after it changed its recipe to reduce the amount of alcohol in its lagers, The Sun reported on February 19.
Consumers say the beer now "tastes of nothing" following a reduction from 4.8% to 4.6% in September last year.
Stella owners Budweiser Brewing Group UK&I say they've lowered the alcohol content in its canned, draft and gluten-free versions to capitalise on the popularity of "wellness trends".
It last cut ABV from 5% to 4.8% in 2012 citing “evolving” drinking trends in the UK.
But the move is said to have saved previous brewers AB InBev up to £8.6 million a year in duty, according to alcoholpolicy.net.
The latest reduction has left beer lovers fuming and sparked a surge in one star reviews across supermarket websites from customers.
One person even joked they'd contracted coronavirus because they "could taste nothing" while sipping the lager. Losing your sense of taste is a key Covid-19 symptom.
In a scathing review on Tesco's website, the person wrote: "Today I cracked open a can of Stella 4.6% and thought I had Covid, since I could not taste anything."
They added: "Stella is now bland, insipid and already described as dishwater."
Another wrote: "A once great beer of
...More info on site
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Spain: Heineken to eliminate 106 jobs in Andalucian and Sevillan businesses
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Heineken announced on February 19 that it will eliminate a total of 106 jobs in its Andalucían and Sevillan divisions as the struggling brewing company claims it will have to axe 8,000 employees worldwide (almost a 10th of its entire workforce) as part of a radical savings overhaul of €1.98 billion over the next two years, the Euro Weekly News reported.
Sevilla has taken the worst hit in the Andalucían Community, with a loss of 73 jobs, which will be distributed among 47 jobs in the production plant and 26 administration staff. Thirty of the remaining positions will be lost at Heineken’s plant in Jaen, with a further three in Malaga.
According to the unions, Heineken will axe a total of 228 jobs nationally through early retirement, although the amount of job losses in Spain far exceeds the global average, with around 14 per cent of its workforce out of a job.
The world’s second-largest brewer reported a net income of 19,724 million euro in 2020, 17.4 per cent less than in 2019.
The company’s new chief executive Dolf van den Brink, who took over in April last year, announced at the beginning of February that the huge job losses, amounting to ten
...More info on site
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UK: German and Belgian specialist brews in shortage as a result of Brexit red tape and Covid-19
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UK beer importers are seeing shortages of specialist brews from Germany and Belgium as a result of Brexit red tape and Covid-19, the Daily Mail reported on February 22.
The company ‘Beers of Europe’, which claims to operate the biggest beer shop in Britain as well as offering online sales, has issued a warning about the problem to customers.
British craft brewers have seized on the news with a call to drinkers to ‘Buy British’ in an effort to reclaim at least some of the sales lost during the pandemic lockdown of pubs, which has devastated the industry.
The difficulty in importing beer from continental Europe reflects a wider problem of Brexit red tape and costs facing companies and individuals trying to get goods, from cheese to bath taps, across the Channel.
Beers of Europe issued an alert to customers reading: ‘As many of you know, we are currently experiencing shortages of our German and Belgian beers.
Experts say there is a long list of British brewers producing fabulous German-style pilsners, wheat beers and Belgian-style saisons, as well as traditional ales and stouts. Picture: Stock
‘We have stock on order but unfortunately, it has been delayed due to transport issues in and out of Europe. Many
...More info on site
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Barley News
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Argentina & China: Argentina’s barley exports to China set to soar to a record this year
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Argentina's barley exports to China are set to soar to a record 1 million tonnes in 2021, industry sources and sales data show, as
...More info on site
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Whisky News
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India: United Spirits to start strategic review of several of its mass-priced brands
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United Spirits on February 23 said it is set to start a strategic review of several of its mass-priced brands, excluding the McDowell’s and Director’s Special trademarks, the Times of India reported.
USL has around 30 brands in its ‘popular’ portfolio and the brands that will be reviewed account for half of these in terms of volumes.
While the move is expected to help the Diageo-controlled spirits company chase profitable growth through a premiumization strategy, it could also mean selling off half its portfolio in the segment. Premium brands currently account for around 70% of Diageo’s sales in India pitting the company against French liquor giant Pernod Ricard.
“These could mean brands like Bagpiper, Old Tavern, Hayward’s Fine range, Gold Riband/Blue Riband range, Karmazov vodka, Green Label, Mughal Monarch,” said a senior industry executive. “They have several such brands which are in the popular category, which is primarily the mainstream segment, where the margins are very thin.”
“They have already in the last few years signed franchisee agreements in some states where some of these brands have been let out to local companies against royalty/franchisee fees. This note could mean that they are now exploring to finally sell off some
...More info on site
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