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E-Malt.com Newsletter 42b
October 20 - October 23, 2022
Quote of the Week
The key to success is to start before you are ready.
Marie Forleo
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Currency Rates
Base Currency: US Dollar
on October 21, 2022 |
Base Currency: Canadian Dollar
on October 21, 2022 |
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1 USD = 1.0217 EUR
1 USD = 0.8905 GBP
1 USD = 1.3753 CAD
1 USD = 1.5917 AUD
1 USD = 149.9380 JPY
1 USD = 5.2426 BRL
1 USD = 61.5746 RUB
1 USD = 7.2235 CNY
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1 CAD = 0.7270 USD
1 CAD = 0.6473 GBP
1 CAD = 0.7427 EUR
1 CAD = 1.1571 AUD
1 CAD = 109.0020 JPY
1 CAD = 3.8113 BRL
1 CAD = 44.7634 RUB
1 CAD = 5.2513 CNY
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Currency Rates Chart
Equities of the Largest Breweries
North America: Canada barley production forecast unchanged at 9.66 mln tonnes
...Click here
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USA, MA: Roundhead Brewing Company preparing to open in Hyde Park
...Click here
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USA, MT: Bias Brewing moving into former Kalispell Brewing Company location
...Click here
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USA, PA: Artifact Brewing eyes opening in Doylestown Borough
...Click here
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USA, NY: 1812 Brewing Company commissions brewhouse acquired in Milwaukee auction
...Click here
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World: Beer output and malt demand expected to continue to grow
...Click here
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Ireland: Boortmalt not ruling out further expansion of Athy maltings
...Click here
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India: United Breweries report increase in consolidated net profit for quarter ended September 30
...Click here
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World: Barley production forecast slightly down on increasing worries over Argentine crop
...Click here
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EU & UK: Malting barley supply & demand balance fairly stable
...Click here
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UK: Barley balance expected to be heavier this season
...Click here
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World: Diageo prices $2 bln SEC-registered bond offering
...Click here
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UK: Scotch Whisky Association criticises scrapping of alcohol duty freeze
...Click here
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World: Pernod Ricard expected “dynamic” sales growth to continue through its 2023 fiscal year
...Click here
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UK & South Korea: Scotch Malt Whisky Society links up with a leading liquor distributor in South Korea
...Click here
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Russia: Russia could abolish grain export quota in view of big harvest
...Click here
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Graph of the Week
Table of the Week
EU Barley Supply & Demand Forecast
Prices Evolution
Barley Prices
Theoretical Malt Prices
These Days in Business History
20 October
1928 - magnate/multi-millionaire Ken Morrison was born, executive chairman of the Wm Morrison Supermarkets plc, the fourth largest chain of supermarkets in the United Kingdom
1973 - OPEC oil embargo begins
1983 - IBM-PC DOS Version 2.1 released
21 October
1492 - Columbus discovers America (Oct 12, 1492 Julian calendar)
1879 - Thomas Edison perfects carbonized cotton filament light bulb
1987 - Nobel prize for economy awarded to Robert M. Solow
22 October
1897 - World's 1st car dealer opens in London
1979 - Walt Disney World's 100-millionth guest
1997 - Yahoo completes purchase of Four11
23 October
1814 - 1st plastic surgery is performed (England)
1824 - 1st steam locomotive is introduced
1989 - Bankruptcy of Wartsila Marine; the biggest bankruptcy in the Nordic countries until then
Agenda
October 2022:
21 - 23: Cerveza Mexico Expo 2022 (Mexico City, Mexico)
24 - 30: Copa Cervezas de America 2022 (Valparaiso, Chile)
27 - 28: Sea Brew 2022 (Bangkok, Thailand)
November 2022:
01 - 03: Brussels Beer Challenge 2022 (Eupen, Belgium)
22 - 23: 12th Iberoamerican VLB Symposium Brewing & Filling Technology 2022 (Uberlandia, Brazil)
December 2022:
06 - 07: 3rd VLB International Brewing Web Conference (VLB Virtual Campus)
07 - 09: Drink Technology India 2022 (Bombay Exhibition Centre, Mumbai, India)
07 - 09: Drink Japan 2022 (Makuhari Messe, Japan)
07 - 11: Mondial de la Biere Rio 2022 (Rio de Janeiro, Brazil)
February 2023:
10 - 13: HoReCa 2023 (Athens, Greece)
20 - 23: Beer & Food Attraction 2023 (Rimini, Italy)
March 2023:
08 - 11: Festival Brasileiro da Cerveja 2023 (Blumenau, Brazil)
May 2023:
07 - 10: Craft Brewers Conference & BrewExpo America 2023 (Nashville, TN, USA)
10 - 10: World Beer Cup 2023 (Nashville, TN, USA)
12 - 14: Cerveza Mexico Expo 2023 (Guadalajara, Mexico)
25 - 27: InnBrew 2023 (Barcelona, Spain)
30 - 01 June: Beviale Mexico 2023 (Mexico City, Mexico)
News Articles
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North America: Canada barley production forecast unchanged at 9.66 mln tonnes
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Canada barley production forecast is unchanged at 9.66 mln tonnes with an overall average crop result, ending stocks remain tight as the empty pipeline
...More info on site
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USA, MA: Roundhead Brewing Company preparing to open in Hyde Park
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Nearly two years ago, it was reported that a new microbrewery could be coming to an historic space in a Boston neighborhood, and now it has been confirmed that the place is just about ready to debut, NBC Boston reported on October 19.
A message from Adam Gaffin of Universal Hub indicates that Roundhead Brewing Company is preparing to open in the Readville section of Hyde Park, with a Facebook post from the business saying "Just got a temporary certificate of inspection so we can start having folks to Roundhead Brewing Company in Hyde Park! Be on the lookout for an invitation to an October series of soft opening events!" As stated in an earlier article, Luis Espinoza and Craig Panzer are behind the brewery, which is located in the Westinghouse Plaza complex (just off Neponset Valley Parkway) and whose roots date back well over 100 years, once being home to fan manufacturer B.F. Sturtevant Co.
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USA, MT: Bias Brewing moving into former Kalispell Brewing Company location
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A familiar brewery in Kalispell is moving into a familiar location for beer drinkers in the Flathead.
After purchasing Kalispell Brewing Company this summer, Bias Brewing is moving into the historic KBC building right on main street.
They’re set to officially open their doors on Saturday, October 22.
“And so being able to move over here, bring our brand and our culture over to Main street is a huge opportunity for us,” said Bias Brewing Co-Owner Gabe Mariman.
“We’re maintaining the historical integrity of this building, we’re keeping a lot of the Kalispell brewing bones, and we’ve just kind of made it our own,” added Mariman.
After going up for sale this summer, Mariman said Bias jumped at the opportunity to purchase Kalispell Brewing Company.
“We’ve been looking for a way to grow, we’ve outgrown our factory twice in the four years that we’ve been operating, so we need a much bigger factory, we need a better location with more visibility, this clearly checked all of those boxes,” said Mariman.
Mariman said more space means more beer – Bias will now be able to quadruple their beer production and begin canning beer for the first time.
“At the old location we were producing beer as fast as we
...More info on site
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USA, PA: Artifact Brewing eyes opening in Doylestown Borough
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Artifact Brewing would like to replace the long-vacant PA Wine and Spirits store in the center of Doylestown Borough with a brew pub, but it will need some parking first, The Bucks County Herald reported on October 20.
The Hatboro-based company, owned and operated by two friends, Ryan McKinney and Matt Brzowski, is tentatively scheduled to come to the borough’s zoning hearing board this month with a variance request.
The partners are proposing to renovate the 19 W. Court St. property and bring a 1,000-square-foot tasting room, 280-square-foot bar and a 900-square-foot brewing operation to the site, which is in the central commercial district.
According to officials, Artifact would like to provide four off-site parking spaces through an agreement with the Marshall Financial Group, which owns a nearby lot. The pub’s employees and customers could use the parking spots after 5:30 p.m. Monday through Friday and from 11 a.m. to one hour after closing on weekends.
Artifact’s Hatboro location, which opened in October 2019, is at 2 S. York Road. The hours there are: Thursday: 5 - 9 p.m., Friday: 5 - 10 p.m., Saturday: noon - 10 p.m. and Sunday: noon - 6 p.m.
Its website describes the pub this way.
“Enjoying good drinks and
...More info on site
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USA, NY: 1812 Brewing Company commissions brewhouse acquired in Milwaukee auction
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1812 Brewing Company announced on October 20 that it has successfully commissioned its Premier Stainless 3-vesel 30 barrel brewing system that the company opportunistically acquired in Milwaukee, WI in the fourth quarter of 2020. The Premier Stainless system is designed to produce up to approximately 1,250 case-equivalents of beer in a given brewing session.
Tom Scozzafava, Chairman and CEO of KEGS, stated, “We initiated the company’s transition away from using “contract” brewing partners to becoming an entirely self-sufficient brewery just as what would be known as the Covid-pandemic came into the public domain. Nonetheless, in the face of limited personnel, parts shortages and unbelievably long lead times, we persevered and relentlessly commissioned the GAI/Makro bottle filler and labeler, the move and expansion of the legacy brewing systems, and now, finally, the Premier Stainless 30 barrel brewhouse.”
Mr. Scozzafava continued, “This brew house will be the main engine of our near-term growth, where we shall seek to expand our geographic reach throughout the Northeast and into Canada.”
Finally, Mr. Scozzafava stated, “To have accomplished this during a (if not the) most trying period in all of modern history, I am extremely proud of this team we have put together
...More info on site
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World: Beer output and malt demand expected to continue to grow
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Beer output and malt demand are expected to continue their rise, in spite of all present problems; most of all in Asia, Latin America
...More info on site
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Ireland: Boortmalt not ruling out further expansion of Athy maltings
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Boortmalt is not ruling out the possibility of further expanding its malting barley facility in Athy, Co Kildare, the Agriland reported on October 20.
Executives
...More info on site
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India: United Breweries report increase in consolidated net profit for quarter ended September 30
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Beer maker United Breweries Ltd has reported a 66.94 per cent growth in its consolidated net profit at Rs 134.12 crore in the second
...More info on site
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World: Barley production forecast slightly down on increasing worries over Argentine crop
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Global barley production forecast is slightly down - at 149.9 mln tonnes due to increasing problems with the Argentine crop situation, RMI Analytics said
...More info on site
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Finland: Beer sales down 1% this summer
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Compared to a decade ago, Finland's beer consumption fell by 70 million litres this summer, the Yle reported on October 19.
A total of 224 million litres of alcoholic and non-alcoholic beer were sold between July and September in Finland this year, representing a one percent drop on last year's consumption rate, or a decrease of 2.1 million litres.
Meanwhile, sales of beer containing alcohol fell by 3.6 million litres, or 4 percent, compared to the same quarter last year, according to figures published by the Federation of the Brewing and Soft Drinks Industry on Wednesday.
The figures are based on sales data provided by the association's member companies.
Summer is the most important season for the brewing industry, and periods of heatwave usually lead to a spike in sales. This summer did not however have as prolonged heatwave periods as last year, and this is reflected in the sales data.
Cider sales also fell during the summer months, by 0.4 million litres or 7.4 percent, while sales of long drinks rose by 0.3 million litres or 1.6 percent.
Federation CEO Tuula Loikkanen described the drop in beer sales as "dramatic," noting that sales during July to September fell by 70 million litres compared to 10
...More info on site
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EU & UK: Malting barley supply & demand balance fairly stable
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The supply & demand balance of malting barley is fairly stable in the western EU + UK, H. M. Gauger GmbH said in their
...More info on site
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UK: Barley balance expected to be heavier this season
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AHDB published on October 20 the 2022/23 Early Balance Sheets for wheat and barley, which give a first look at supply and demand for
...More info on site
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World: Diageo prices $2 bln SEC-registered bond offering
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Diageo, a global leader in beverage alcohol, on October 19 launched and priced a $2.0 billion SEC-registered bond offering, consisting of $500 million 5.200% fixed rate notes due 2025; $750 million 5.300% fixed rate notes due 2027 and $750 million 5.500% fixed rate notes due 2033.
The issuer of the bonds is Diageo Capital plc, with payment of principal and interest fully and unconditionally guaranteed by Diageo plc. Proceeds from this issuance will be used for general corporate purposes. The bond offering is scheduled to settle on 24 October 2022.
Citigroup Global Markets Inc., HSBC Securities (USA) Inc., Morgan Stanley & Co. LLC and NatWest Markets Securities Inc. acted as joint active book-running managers on this offering.
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UK: Scotch Whisky Association criticises scrapping of alcohol duty freeze
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The Scotch Whisky Association (SWA) claims it has been “stripped of certainty and stability” after the new UK Chancellor cancelled a planned freeze in alcohol excise duty, The Scotsman reported on October 17.
The U-turn decision comes after former chancellor Kwasi Kwarteng set out a planned freeze on alcohol duty in the UK Government’s mini-Budget three weeks ago.
However, following his sacking, the UK’s newly-appointed Chancellor Jeremy Hunt reversed almost all the tax-cutting policies announced in the mini-budget.
In a statement on October 17, the Chancellor confirmed the freeze – due to come into force in February next year – would no longer take place, saving the government £600 million a year. Alcohol duty will now rise in line with inflation, as measured by the retail price index (RPI), currently at 12.3 per cent.
Criticising the decision, Mark Kent, chief executive of the SWA, said: “Business can only work on the basis of certainty and stability. That has been stripped from the Scotch whisky industry following the Chancellor’s decision to U-turn on the duty freeze for Scotch whisky announced just over two weeks ago.
“Time after time, duty freezes on spirits have increased government revenue contrary to what the Treasury’s forecasts have predicted. The industry
...More info on site
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World: Pernod Ricard expected “dynamic” sales growth to continue through its 2023 fiscal year
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French spirits maker Pernod Ricard said on October 20 it expected “dynamic” sales growth to continue through its 2023 fiscal year after it delivered a forecast-beating 11% sales growth in the first quarter helped by price increases in U.S, its top market, Reuters reported.
Pernod, the world’s second-biggest spirits group behind Diageo, said the strong start to the year also reflected strong demand in China and in India and a continued rebound in global travel retail.
Pernod Ricard’s fiscal year started on July 1.
Pernod – which owns Martell cognac, Mumm champagne and Absolut vodka – reported sales of 3.308 billion euros ($3.23 billion) from July to September, a like-for-like rise of 11%, beating an analyst consensus of 9.3%.
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UK & South Korea: Scotch Malt Whisky Society links up with a leading liquor distributor in South Korea
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The Scotch Malt Whisky Society is poised to enter a key growth market in Asia after linking up with a leading liquor distributor in South Korea, The Herald reported on October 20.
The society has signed a franchise agreement with F.J. Korea, which it expects to help build a significant presence in a country that is reckoned to offer big opportunities.
F.J. Korea distributes products to more than 2,000 bars and the like in South Korea and has operations in key locations across the country, such as Seoul.
The society expects F.J. Korea will help it to recruit new members and to boost demand for the kind of niche and limited-edition products it markets.
Owned by the Edinburgh-based Artisanal Spirits Company, the society says it offers members exclusive access to a unique range of single cask Scotch malt whiskies and other craft spirits. These are sourced from over 100 distilleries in 20 countries.
It described South Korea as the tenth largest market within the global Ultra-Premium Scotch Malt Whisky sector.
The society is confident that the South Korean market will grow strongly as social changes fuel demand for premium products.
David Ridley, managing director of The Artisanal Spirits Company, said the agreement with F.J. Korea would help
...More info on site
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Russia: Russia could abolish grain export quota in view of big harvest
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Russia, the world’s largest wheat exporter, is considering abolishing its grain export quota which it usually sets up in the second half of the July-June marketing season, the Interfax news agency reported, citing Russia’s Deputy Prime Minister.
According to Reuters, Russia usually sets up grain export quotas for the period from mid-February and until the end of June to secure enough supply for the domestic needs.
“The harvest is big, so, in principle, probably, yes, there are no prerequisites to impose any quantitative restrictions at the moment,” Viktoria Abramchenko, who is in charge of the agriculture sector in the government, was quoted as saying on Tuesday.
Russia is on track to harvest a record grain crop of 150 million tonnes, including 100 million tonnes of wheat, in 2022, according to President Vladimir Putin’s forecast.
Russia’s Union of Grain Exporters said on social media that it would be better to keep the quota system in place but make sure the size of it is not of a restrictive nature.
The quota of 25 million tonnes of grains for exports from mid-February and until June 30 “could become a compromise option,” the union said.
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