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E-Malt.com Newsletter 43b October 27 - October 30, 2022
Quote of the Week
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Currency Rates
Base Currency: US Dollar on October 28, 2022 |
Base Currency: Canadian Dollar on October 28, 2022 |
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1 USD = 0.9976 EUR
1 USD = 0.8627 GBP
1 USD = 1.3562 CAD
1 USD = 1.5445 AUD
1 USD = 146.0920 JPY
1 USD = 5.3495 BRL
1 USD = 61.3331 RUB
1 USD = 7.2194 CNY
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1 CAD = 0.7372 USD
1 CAD = 0.6360 GBP
1 CAD = 0.7354 EUR
1 CAD = 1.1386 AUD
1 CAD = 107.7010 JPY
1 CAD = 3.9437 BRL
1 CAD = 45.2158 RUB
1 CAD = 5.3222 CNY
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Currency Rates Chart
Equities of the Largest Breweries
USA: Beer taking up less of alcohol market as companies diversify into new drink categories
...Click here
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USA: January-September and September alone beer shipments estimated to have declined versus last year
...Click here
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USA: Exports of grains in all forms total more than 122 mln tons in 2021-22
...Click here
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USA, IA: Textile Brewing Co. to take over Bellevue’s River Ridge Brewing
...Click here
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USA, NC: Morganton’s Catawba Brewing Company shutting down
...Click here
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USA, CA: Seven Stills Brewery and Distillery to close after Halloween weekend
...Click here
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USA, NY: The FarmHouse Brewery about to close its doors in Owego
...Click here
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World: AB InBev reports higher-than-expected quarterly earnings, raises 2022 outlook
...Click here
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World: Carlsberg reports 14% rise in third-quarter revenue, lifts annual profit forecast
...Click here
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Brazil: Ambev posts 13..4% drop in quarterly net income
...Click here
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Russia: Beer, beer-like beverages see sales drop in January-September
...Click here
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Australia: Heavy rainfall starts to affect barley crop quality
...Click here
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Argentina: Barley crop forecast reduced due to dryness coupled with recent frosts
...Click here
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Ireland: Diageo to lodge plans for new brewery in Kildare County
...Click here
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Kazakhstan: Wheat and barley production to rebound significantly in 2022-23
...Click here
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Ghana: Guinness Ghana remains focusing on delivering core mandate and keeping foundation strong
...Click here
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South Africa: Heineken’s Sedibeng Brewery installs a 6.5MW solar PV plant
...Click here
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Graph of the Week
Table of the Week
US Hop and Alpha-Acid Production 2019-2021
Prices Evolution
Barley Prices
Theoretical Malt Prices
These Days in Business History
27 October
1969 - Nobel prize for economy awarded to John Tinbergen
1984 - Hepatitis virus is discovered
1997 - Intel Corp buys Digital Equipment for $700 million
28 October
1904 - St Louis police try a new investigation method - the fingerprints
1954 - Nobel prize for literature awarded to Ernest Hemingway
1986 - International Red Cross ousted from South Africa
29 October
1929 - The New York Stock Exchange crashes in what will be called the Crash of '29 or "Black Tuesday", ending the Great Bull Market of the 1920s and beginning the Great Depression
1947 - Belgium, Luxembourg and Netherland form Benelux Union
1952 - Sweden begins experimental TV
2008 - Delta Air Lines merges with Northwest Airlines, creating the world's largest airline and reducing the number of US legacy carriers to five
30 October
1894 - Daniel Cooper patents time clock
1987 - August A Busch III becomes CEO of St Louis Cards
1989 - Mitsubishi Estate Co. agrees to pay $846 million for 51% of Rockefeller Center in New York City; by 1996, the Mitsubishi affiliate is so financially troubled that it sells Rockefeller Center for less than $400 million
Agenda
October 2022:
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
USA: Beer taking up less of alcohol market as companies diversify into new drink categories
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Beer is taking up less of the American booze market as beverage companies flood the market with buzzy new drink categories, including ready-to-drink cocktails, CNBC reported on October 27.
Even legacy beer companies have expanded outside of their staple beer products with innovations for spirits drinkers.
Anheuser-Busch InBev, the world’s largest brewer, has diversified its portfolio to include hard seltzers, canned wine and canned cocktails. Molson Coors dropped the “Brewing Co” from its name in 2019 to reflect a similar expansion into spirits.
This week, Samuel Adams maker Boston Beer debuted Loma Vista Tequila Soda, a ready-to-drink tequila cocktail in both lime and mango flavors. The lineup is launching in a handful of markets, including Austin, Texas; Fort Collins, Colorado; Wichita, Kansas; and Kansas City.
Boston Beer said its tequila cocktails sit at the crux of “the explosive growth of the RTD beverage segment” and “the rise in popularity of tequila.” DISCUS said the top five spirits by revenue growth in 2021 were vodka (4.9%), tequila/mezcal (30.1%), American whiskey (6.7%), Brandy & Cognac (13.1%) and cordials (15.2%).
Last year was the 12th consecutive year spirits have taken away market share from beer in the total U.S. alcoholic beverage market, according to a report earlier
...More info on site
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USA: January-September and September alone beer shipments estimated to have declined versus last year
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The US Beer Institute published on October 25 an unofficial estimate of domestic tax paid shipments by beer brewers for September 2022.
The September 2022 estimate is 14,400,000 barrels, a decrease of 0.9% compared to September 2021 removals of 14,525,748.
The January-September volume is reported at 124,363,330 barrels, down 3.9% as compared to the same period last year.
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USA: Exports of grains in all forms total more than 122 mln tons in 2021-22
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U.S. grains in all forms (GIAF) exports for marketing year (MY) 2021-22 totalled more than 122 million metric tons (MMT), the second highest year on record following 129 MMT in MY 2020-21, according to data from the U.S. Department of Agriculture and analysis by the U.S. Grains Council.
Near-record exports of ethanol helped offset losses from corn and barley and barley products.
As the new 2022-23 marketing year takes off, the council is continuing to work around the world to promote the quality, reliability and value of U.S. grain products and ethanol. To track GIAF exports, the council reviews exports across 10 product sectors, including U.S. corn, barley and sorghum and value-added products including ethanol, distiller's dried grains with solubles (DDGS) and other co-products, as well as the corn equivalent of exported meat products.
Top three GIAF countries:
Mexico—Record exports of ethanol, corn, DDGS and pork and pork products, combined with a reduction in GIAF from China, made Mexico the largest GIAF market in 2021-22. The country imported more than 27 MMT (equal to 1 billion bushels) worth $11 billion, accounting for more than 22% of the total MY 2021-22 export market. Mexico was the top market for U.S. corn, barley and barley
...More info on site
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USA, IA: Textile Brewing Co. to take over Bellevue’s River Ridge Brewing
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A Dyersville-based brewery soon will take over ownership of a popular brewery in Bellevue, bizTimes reported on October 26.
Tom Olberding, owner of Textile Brewing Co. in Dyersville and The Corner Taproom in Cascade, confirmed this week that he intends to finalize the purchase of River Ridge Brewing, located at 303 S. Riverview St. in Bellevue, at the end of the month.
Olberding said the operations of River Ridge Brewing, including the beers it serves, largely will remain unchanged, as he intends to maintain his breweries as separate entities.
“It’s going to be operated as it is now,” he said. “It will be River Ridge Brewing, and it will be River Ridge beer.”
Olberding said he does intend to install a small kitchen at the Bellevue brewery to introduce more food options for patrons.
Nick and Kelly Hueneke first opened River Ridge Brewing in 2016 at 118 N. Riverview Drive. Two years later, Nic Hockenberry and his wife, Allison Simpson, joined as co-owners.
Last year, the brewery moved to its new riverside location in a building that formerly was the location of an agricultural equipment dealer. The new space provided expanded room for seating and brewing.
Bellevue City Administrator Abbey Skrivseth said River Ridge Brewing has attracted
...More info on site
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USA, NC: Morganton’s Catawba Brewing Company shutting down
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Catawba Brewing Company in Morganton is shutting down as its owner makes plans to move production to New Orleans, Nola.com reports.
Last year, Made By The Water purchased the company from the Pyatt family. According to a news release, Made by the Water merged with Faubourg Brewing in September, which is based in New Orleans.
CEO Alexi Sekmakas told Nola.com the decision to shut down the main production facility in Morganton was made because demand for Catawba’s brands, including its top-selling White Zombie White Ale, had outgrown its capacity.
Last week, Channel 9 learned that full-time employees had received layoff notices.
According to Nola.com, production staff have now been told they will be paid through Nov. 4 on the condition they stay around to dismantle the brewing equipment.
Bar staff were told the site will be closed down, but they’re uncertain about whether it can be reopened at a new location.
The president and CEO of the Burke County Chamber of Commerce, Tonia Stephenson, told Nola.com, “It is going to be a great loss for the heart of Morganton and Burke County. It is so much more than a brewery. It’s a meeting place, where food trucks come from all over. You see families there with
...More info on site
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USA, CA: Seven Stills Brewery and Distillery to close after Halloween weekend
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In another clear case of a local business that went into expansion mode at just the wrong time before the pandemic, Seven Stills Brewery and Distillery in Mission Bay has announced it will close after Halloween weekend, SFist reported on October 26.
The brewery, bar, and distillery at 100 Hooper Street is the last of Seven Stills' locations to close, after the pre-pandemic closures of their Mission District and Outer Sunset brewpubs — which were initially only temporarily shuttered due to a 90-day suspension of their liquor license, due to some arcane violations of "tied-house" laws — and the closure of their first location in the Bayview.
The SF Standard broke the news of the shutdown, with a quote from co-founder Tim Obert saying, "Timing is everything, and we were unfortunately hit with some of the worst timing possible."
In recent years, the beermaking side of the operation seemed to fall by the wayside and fewer beers were being released. The place remained an active distillery producing unique spirits — including a fresh batch of their hoppy Five Pounds whiskey that was just released on Tuesday. And earlier this year they had started making canned cocktails as well.
But Obert told the Standard that
...More info on site
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USA, NY: The FarmHouse Brewery about to close its doors in Owego
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The FarmHouse Brewery, a Tioga County beer producer that used hops grown in New York state, is about to close its doors, WNBF reported on October 27.
Marty Mattrazzo, who opened the business in Owego just over eight years ago, announced the decision to cease operations in an online post.
A FarmHouse tap room opened in Victor, southeast of Rochester, in 2019.
The last couple of years proved especially challenging for the business. Mattrazzo's note said reduced sales "left us with no more options but to close."
Mattrazzo said The FarmHouse tap room in Owego will be open October 28 and 29 before the business shuts down. He could not be reached to discuss his future plans.
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World: AB InBev reports higher-than-expected quarterly earnings, raises 2022 outlook
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Anheuser-Busch InBev, the world's largest brewer, reported higher-than-expected quarterly earnings on October 27 as beer sales accelerated, and raised its 2022 outlook to the
...More info on site
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World: Carlsberg reports 14% rise in third-quarter revenue, lifts annual profit forecast
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Danish brewer Carlsberg on October 26 reported third-quarter sales broadly in line with expectations and lifted its profit forecast for the year despite weakening
...More info on site
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Brazil: Ambev posts 13..4% drop in quarterly net income
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Brazilian brewer Ambev SA on October 27 reported a third-quarter net profit beat thanks to positive momentum in its home market and reaffirmed an
...More info on site
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Russia: Beer, beer-like beverages see sales drop in January-September
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Russia’s sales of beer and beer-like beverages saw a decline of 4.2% in January-September this year, the Federal Service for Alcohol Market Regulation reported
...More info on site
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China: Tsingtao Brewery’s net profit up 18% in Q3
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Tsingtao Brewery Co. reported its net profit rose in the third quarter, buoyed by higher sales, the Morningstar reported on October 27.
The brewer said
...More info on site
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Australia: Heavy rainfall starts to affect barley crop quality
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Heavy rainfall continues to hamper east-coast Australia, creating a worrisome situation, RMI Analytics said in their latest report.
Barley quality degradation is beginning, as the
...More info on site
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Argentina: Barley crop forecast reduced due to dryness coupled with recent frosts
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From satellite vegetation images, the status of barley crop 2022 is falling behind crop 2021 in southern Buenos Aires province, RMI Analytics said in
...More info on site
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Ireland: Diageo to lodge plans for new brewery in Kildare County
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Brewing giant Diageo will on October 28 lodge plans with Kildare County Council for a new €200 million brewery for a greenfield site at Littleconnell in Newbridge, The Irish Times reported on October 27.
Up to 1,000 jobs are to be created during the two-year construction period of the brewery, which will lead to the creation of a further 50 jobs when operational.
The new facility will brew lagers and ales including Rockshore, Harp, Hop House 13, Smithwick’s, Kilkenny and Carlsberg.
When fully operational with a capacity of two million hectolitres, the brewery will be the second largest brewing operation in Ireland after Diageo’s operation at St. James’s Gate and support the future growth of Diageo Ireland’s beer brands.
A planning notice published on Thursday, October 27 confirmed that Diageo Ireland’s carbon-neutral brewery will be built on a 21.36 hectare site at the IDA Newbridge Business and Technology Park.
The site is located to the east of Lidl’s Distribution Centre. The notice states that the main brewery will be 9,148 m2 including a brew house, storage and handling areas.
The height of the building will reach to 24.3 metres. Diageo Ireland is to lodge an Environmental Impact Statement (EIS) with the large-scale planning application.
The state-of-the-art brewery
...More info on site
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Portugal: Beer sector criticises proposed tax hike
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Portugal’s beer sector has criticised the Government's proposal for the 2023 State Budget (OE2023), noting that the 4% increase in special taxes on beer compared to wine is "unfair and discriminatory", the Portugal News reported on October 25.
In a statement released on October 25, Francisco Gírio, the secretary general of APCV -- Cervejeiros de Portugal, said that "the increase in this tax is unfair and discriminatory because it increases the tax burden of beer compared to wine, which has a zero IEC/IABA tax rate." [Excise Tax/Alcoholic Beverage Tax]. Both compete in the domestic liquor market, but beer pays IEC/IABA and 23% VAT, wine pays no IEC/IABA and pays only 13% VAT.
According to the association, "Portuguese microbreweries will pay more than double the taxes per hectolitre than a large Spanish brewer pays".
In the same note, the entity said that this possibility provided for in the OE2023 "will have a 'serious' impact on the competitiveness and survival of the beer sector, its companies and consumers".
"If the proposal is approved in the Assembly of the Republic, the brewing sector will be greatly harmed compared to its two biggest competitors, wine and beer from Spain, and beer prices in Portugal could increase, as more
...More info on site
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Kazakhstan: Wheat and barley production to rebound significantly in 2022-23
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Kazakhstan’s wheat and barley production is expected to rebound significantly in 2022-23 and regain its market share lost due to lower production last season, according to a report from the Foreign Agricultural Service of the US Department of Agriculture (USDA), the World Grain reported on October 27.
Exports of barley, wheat and wheat flour are expected to reach multiyear highs on strong production and steady demand from importing countries, the USDA said.
Wheat production is estimated at 14.5 million tonnes, an increase of 23% from the previous year and a 1.5-million-tonne increase from the previous USDA estimate.
The USDA increased the forecast based on government reporting, data showing improved precipitation and weather conditions and a consensus among wheat producers.
The wheat total area was harvested on 12.8 million hectares, or an estimated 100% of the harvested area.
Wheat and wheat flour exports are estimated at 9 million tonnes, 7% higher than the previous market year and 1 million tonnes higher than USDA estimates. Traders expect Kazakhstan to regain the market share it lost in 2021-22, especially to Uzbekistan and Afghanistan.
Barley production is estimated at 3.1 million tonnes, an increase of 30% from 2021-22 and 400,000 tonnes higher than the USDA’s official estimate. Like wheat, the
...More info on site
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Ghana: Guinness Ghana remains focusing on delivering core mandate and keeping foundation strong
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Guinness Ghana says the business remains focused on delivering its core mandate and keeping its foundation strong, despite the prevailing macro-economic challenges the country faces today, BusinessGhana reported on October 27.
According to the beverage company, it continues to invest in elements that are important for the future as it believes in the resilience of the Ghanaian economy and its people.
Speaking to investors, shareholders, and members of the press during an investor call organised in conjunction with the Ghana Stock Exchange, Helene Weesie, Managing Director of Guinness Ghana noted, “we just need to weather these storms and then we go back to the foundation of our business, which is strong. These circumstances are temporary, but the business remains focused on delivering its core mandate.”
“We started the year strong, and we had a particularly good first half. I must say, however, in the second half, a lot of the good work that we did in the first half was erased due to dire economic circumstances.”
“From February we saw the cedi heavily depreciating, we experienced rising inflation and significant increases in costs as consequence. As a business we have tried to price against that, but that erased most of the benefits and gains
...More info on site
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South Africa: Heineken’s Sedibeng Brewery installs a 6.5MW solar PV plant
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Heineken South Africa’s Sedibeng Brewery in Midvaal has installed a 6.5MW solar PV plant, CleanTechnica reported on October 28.
The solar plant began producing power in May of this year and is the largest freestanding solar plant powering a brewery in South Africa. It is also the largest within the Heineken group. The solar plant has 14,000 panels, adding up to an energy capacity of over 6.5MW. The solar plant now provides 30% of the brewery’s electricity requirements. The 19ha project will generate 17 000 MWh per annum.
“This project supports Heineken’s Brewing a Better World goal reach to net zero status in all its production sites by 2030. It is the latest move made by the company, on its journey towards more sustainable brewing. The newly installed solar plant follows a water reclamation plant unveiled at the same facility earlier this year,” said Richard Kriel, Heineken’s Engineering, Strategic Projects & Sustainability Manager. He joined local dignitaries and project team members this week for a media launch event.
Kriel says that there are several key distinguishing features attached to this development.
“This will be the largest solar power plant in the Sedibeng municipality. Unlike many solar plants in South Africa constructed in parking lots
...More info on site
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