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E-Malt.com Newsletter 08a
February 22 - February 24, 2021
Quote of the Week
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Babe Ruth
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Currency Rates
Base Currency: US Dollar
on February 24, 2021 |
Base Currency: Canadian Dollar
on February 24, 2021 |
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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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1 CAD = 0.7935 USD
1 CAD = 0.5632 GBP
1 CAD = 0.6527 EUR
1 CAD = 1.0031 AUD
1 CAD = 83.4500 JPY
1 CAD = 4.3271 BRL
1 CAD = 58.7680 RUB
1 CAD = 5.1273 CNY
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Currency Rates Chart
Equities of the Largest Breweries
USA, AZ: Eight new breweries opening soon around metro Phoenix
...Click here
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USA, NY: Engine 14 Brewery expected to launch in Naples by spring or early summer
...Click here
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USA, SC: Grand Strand Brewing Company now open in Myrtle Beach
...Click here
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Canada, BC: Studio Brewing officially opens its doors in Burnaby
...Click here
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USA, WA: Stoup Brewing planning another brewery outpost in Kenmore
...Click here
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USA, IL: The Ogle County Brewery brings more craft beer options to downtown Oregon
...Click here
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USA, LA: Agile Brewing slated to open this summer in Baton Rouge
...Click here
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Japan: Brewers expect better profits thanks to launch of vaccination campaign
...Click here
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Hungary: Biggest brewers’ sales drop by 7.5% last year
...Click here
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Argentina & China: Argentina’s barley exports to China set to soar to a record this year
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Japan: Craft beer industry battered by COVID-19 pandemic
...Click here
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Jamaica: Maker of Red Stripe beer partially restores impaired asset values
...Click here
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South Africa: Beer Association of South Africa calls for tax relief
...Click here
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India: Carlsberg finds evidence of potential unethical practices in breach of its group policies in the past
...Click here
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India: United Spirits to start strategic review of several of its mass-priced brands
...Click here
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UK: Consumers angered by Stella Artois reducing amount of alcohol
...Click here
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Spain: Heineken to eliminate 106 jobs in Andalucian and Sevillan businesses
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UK: German and Belgian specialist brews in shortage as a result of Brexit red tape and Covid-19
...Click here
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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)
News Articles
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USA, AZ: Eight new breweries opening soon around metro Phoenix
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Good news for craft beer fans, eight new breweries are bubbling up across metro Phoenix, AZCentral.com reported on February 23.
Six of those breweries are new to the Valley and are in varying states of construction and production. Some have already started selling beer, so look for new cans at local bottle shops.
Two established metro Phoenix breweries are also expanding with new locations, bringing their beer to new corners of the Valley.
Downtown Phoenix's Roosevelt Row is fast becoming a hub for breweries, and soon beer drinkers will have a few more options throughout the district. North Phoenix and Gilbert are also in the mix for new craft beer destinations.
Here are eight new breweries coming soon to metro Phoenix:
La Pequeña Brewing Company
Omar Zamora honed his brewing skills at Mother Bunch Brewing before the downtown Phoenix brewery and restaurant closed in early 2020. Despite the closure, he hasn't stopped making beer and now has his own business, La Pequeña Brewing Company.
While Zamora is still working on a physical location for the brewery, customers can try out his beers, which are being sold in cans at Craft Beer Hop Stop and Kings Beer & Wine.
White Elephant Brewing Company
White Elephant Brewing Company is
...More info on site
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USA, NY: Engine 14 Brewery expected to launch in Naples by spring or early summer
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For almost 30 years, Greg Borden wanted to open a brewery and restaurant, the Rochester Democrat and Chronicle reported on February 19.
Borden, who was a Rochester firefighter for 22 years until retiring as lieutenant in 2019, wanted to be in the Naples area, but never was able to find just the right spot.
But then, just like that, the right spot came to him, in the form of an unused section of Hazlitt’s Red Cat Cellars, 1 Lake Niagara Lane, that he was asked to look at. And he liked what he saw.
"It was actually perfect for what we want to do," Borden said.
And while he said he’s a bit behind schedule, by spring or early summer, Borden, along with his wife, Kate, and sons, Adam and Zack, expects to open Engine 14 Brewery.
Borden may be retired as a career firefighter, but he said he is working harder than he ever has to get everything just right.
“I’m down there, seven days a week, 12 hours a day working on the place,” Borden said. “I’m really enjoying myself, though.”
They say you should do what you know, and Borden, who continues to be a state fire instructor and remains a volunteer with the
...More info on site
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USA, SC: Grand Strand Brewing Company now open in Myrtle Beach
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Grand Strand Brewing Company in Myrtle Beach is now open, wpde.com reported on February 23.
The brewery will have a dozen beers on tap.
To give patrons a chuckle, the owners named each tank after Snow White and the 7 Dwarfs. Patrons have an open view of the brewing process.
”We wanted to make sure that people got that experience so that they can interact with our staff, even while we’re working," said Clayton Burrous, CEO and co-owner of Grand Strand Brewing Company. "So, that’s just an added component to what should already be a fun experience when you go to a brewery.”
Grand Strand Brewing Company is located in the heart of Myrtle Beach, at Nance’s Plaza across from the old pavilion. It's at 819 N Kings Highway in Myrtle Beach.
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Canada, BC: Studio Brewing officially opens its doors in Burnaby
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Metro Vancouver’s newest brewery Studio Brewing has officially opened its doors, the Daily Hive reported on February 19.
The new Burnaby spot is located at 5792 Beresford Street where it’s open daily from 11 am to pm.
Studio Brewing is currently pouring a small but mighty menu of its beers alongside some collaborations with Dageraad Brewing and the Superflux Beer Company.
This new brewery also offers non-alcoholic beverages like kombucha and soda, and four-packs to-go if you just want to pop in and take some sips home.
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USA, WA: Stoup Brewing planning another brewery outpost in Kenmore
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Ballard’s Stoup Brewing has announced plans to expand: The brewery is joining forces with Seaplane Kitchen and Bar to create another brewery outpost in Kenmore sometime between late March and early April, My Ballard reported on February 19.
Stoup Brewing has partnered with the owners of Seaplane to turn the restaurant into a second taproom for Stoup, under the new name Stoup Brewing Kenmore.
This new taproom will feature Stoup’s beer and brewery elements but will be offering food as they are partnering with Chef Jason Stoneburner, who has been a chef at Seaplane Kitchen and Bar in Kenmore.
The food at the new Stoup Brewery will include wood-fired pizzas, salads, and hearty plates to compliment a cold beer.
Seaplane Kitchen and Bar is under temporary closure as the team revamps the area to fit Stoup and allow for more outdoor dining. It will stay closed until its reopening as Stoup Brewing Kenmore in late March-early April.
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USA, IL: The Ogle County Brewery brings more craft beer options to downtown Oregon
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The Ogle County Brewery brings more craft beer options to the Stateline, WIFR reported on February 22.
“The City of Oregon was dreaming for a microbrewery,” said Oregon Chamber of Commerce Executive Director Liz Vos.
People can now head over to the Ogle County Brewery on West Washington Street in downtown Oregon and owners say they couldn’t be more excited.
“It’s a new business and we have great support here in the community,” said Ogle County Brewery Co-Owner Brian Wynn. “It’s a great small community and there’s just been a great out pouring of support for us so we’re real happy to be open.”
Co-owner Joshua Skinner says the building is from 1881 when the National Clothing Store occupied it.
“It’s been sitting vacant for a long time, so I think people are glad to see some life in it especially coming off of 2020,” said Skinner.
City leaders say this is the type of business renovators had in mind when sprucing the place up.
“It was in our Oregon’s wildest dreams to be able to have a wonderful brew pub like this come in and here it is happening,” said Vos.
Wynn says the brewery will bring more to Oregon than just beer.
“The town kind of owns
...More info on site
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USA, LA: Agile Brewing slated to open this summer in Baton Rouge
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Another brewery is slated to open this summer in the Airline Highway suite that previously belonged to Southern Craft Brewing Company, which permanently closed last month, the Greater Baton Rouge Business Report said on February 23.
Keith Primeaux, who also owns LaHomebrew in Baton Rouge, applied last week for building and expedited commercial plan review permits for a new business called Agile Brewing to fill the roughly 3,000-square-foot space, which he plans to renovate and expand to 4,500 square feet.
As envisioned, Agile Brewing would offer 20 different rotating taps, from Nitro cold brew coffee and kombucha to low-alcohol seltzers and imperial stout beers, among various other brews.
“A city the size of Baton Rouge could easily handle a dozen breweries, but we only currently have three, technically, in the parish,” says Primeaux, the former president of Redstick Brewmasters. “The timing is right. Craft beer culture has grown here and people are looking for more choices.”
He’s planning some significant renovations for the space, including knocking down the wall of an adjacent 1,500-square-foot unit in order to add a new, larger tap room. Also in the works is a back deck with outdoor seating as well as a food trailer that would be permanently
...More info on site
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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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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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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
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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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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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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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