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E-Malt.com Newsletter 44a
October 31 - November 02, 2022
Quote of the Week
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Currency Rates
Base Currency: US Dollar
on November 02, 2022 |
Base Currency: Canadian Dollar
on November 02, 2022 |
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1 USD = 1.0099 EUR
1 USD = 0.8693 GBP
1 USD = 1.3595 CAD
1 USD = 1.5582 AUD
1 USD = 147.9900 JPY
1 USD = 5.1562 BRL
1 USD = 61.7475 RUB
1 USD = 7.2804 CNY
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1 CAD = 0.7354 USD
1 CAD = 0.6393 GBP
1 CAD = 0.7427 EUR
1 CAD = 1.1460 AUD
1 CAD = 108.8340 JPY
1 CAD = 3.7919 BRL
1 CAD = 45.4102 RUB
1 CAD = 5.3542 CNY
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Currency Rates Chart
USA, OH: Midnight Owl Brewing Company getting ready for opening in Shaker Heights
...Click here
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USA, MD: BabyCat Brewery to open in Kensington this month
...Click here
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USA, MT: Heineken agrees to increase purchase volume of Montana barley products
...Click here
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USA, NY: New Lockport brewery plans move forward albeit with name change
...Click here
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USA, IL: Lake Effect Brewing prepares to move to Avondale
...Click here
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USA, IA: Mistress Brewing Co. Taproom closes its doors in Ankeny
...Click here
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World: Economic slowdowns haven’t yet led to flat beer sales – AB InBev CEO
...Click here
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World: Molson Coors’ third-quarter earnings miss analysts’ forecasts
...Click here
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Vietnam: Vietnam’s craft beer industry growing both in size and reputation
...Click here
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Ireland: Diageo Ireland gets planning permission for a new brewery in Newbridge
...Click here
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UK: Final cereal quality results confirm lower protein levels
...Click here
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Mexico: Bottler and retailer Femsa posts drop in third-quarter net profit
...Click here
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China: Chongqing Brewery records dramatic growth in nine-month sales volume and operating revenue
...Click here
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Thailand: Thailand to ease entry barriers for liquor, beer producers
...Click here
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Kenya: Investors sell Sh285.8 mln worth of EABL shares since Diageo’s offer to raise stake in beer maker
...Click here
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Ukraine: Grain exports fall to 4.22 mln tonnes in October
...Click here
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Russia & Ukraine: Russia agrees to re-join Ukraine grain exports deal
...Click here
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Romania: The first locally-produced single malt whisky launched in Romania
...Click here
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UK: Beer delivery drivers suspend plans to take strike action
...Click here
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Graph of the Week
Table of the Week
Italy Beer Market 1999 - 2021
Prices Evolution
Barley Prices
Theoretical Malt Prices
These Days in Business History
31 October
1904 - King Camp Gillette patents the safety blade and razor
1938 - Robert Edward was born, he started CNN (amid almost universal predictions of failure) in 1980
1952 - TV broadcasting begins in Belgium
2011 - The global population of humans reaches seven billion. This day is now recognized by the United Nations as Seven Billion Day
01 November
1512 - Michelangelo's paintings on ceiling of Sistine Chapel, 1st time exhibited
1765 - Robert Fulton is born. He invents the world's first practical steamboat in 1807, and for the first time humans can safely travel substantial distances without relying on animals or wind
1894 - Vaccine for diphtheria announced by Dr Roux of Paris
1982 - Honda becomes the first Asian automobile company to produce cars in the United States with the opening of its factory in Marysville, Ohio. The Honda Accord is the first car produced there
1993 - The Maastricht Treaty takes effect, formally establishing the European Union
02 November
1927 - John Sainsbury was born, Chairman of J Sainsbury plc (the parent company of Sainsbury's Supermarkets Ltd) since 1969; English billionaire
1928 - Dupont introduces synthetic rubber
1992 - 1st test flight of Airbus A330
Agenda
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 - 08: 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)
16 - 18: Great British Beer Festival Winter 2023 (Burton Town Hall, Burton-on-Trent, UK)
20 - 23: Beer & Food Attraction 2023 (Rimini, Italy)
March 2023:
07 - 09: Expo Antad & Alimentaria Mexico 2023 (Expo Guadalajara, Jalisco, Mexico)
08 - 11: Festival Brasileiro da Cerveja 2023 (Blumenau, Brazil)
24 - 26: St Malo Craft Beer Expo 2023 (St Malo, France)
April 2023:
02 - 06: 15th International Trends in Brewing 'Beer & Society' 2023 (Leuven, Belgium)
06 - 08: KIBEX 2023 (Seoul, South Korea)
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)
22 - 28: Budapest Beer Week 2023 (Budapest, Hungary)
22 - 23: The Brewers of Europe Forum 2023 (Prague, the Czech Republic)
25 - 27: InnBrew 2023 (Barcelona, Spain)
30 - 01 June: Beviale Mexico 2023 (Mexico City, Mexico)
June 2023:
01 - 04: Wiener Bierfest 2023 (Vienna, Austria)
05 - 06: Tallinn Craft Beer Weekend 2023 (Tallinn, Estonia)
13 - 14: IGC Grains Conference 2023 (London, UK)
August 2023:
10 - 12: VIETFOOD & BEVERAGE - VIETNAM 2023 (Saigon Exhibitions and Conventions Center, 799 Nguyen Van Linh Street, District 7, HoChiMinh City, Vietnam)
News Articles
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USA, OH: Midnight Owl Brewing Company getting ready for opening in Shaker Heights
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Veteran brewer Joel Warger and his wife and business partner Rosemary Mudry will open Midnight Owl Brewing Company in Shaker Heights. The brewery currently is taking shape in the former Lucy’s Sweet Surrender space on Chagrin Boulevard near Van Aken District. The brewpub will share that property with Mendel’s Kansas City BBQ, both of which are on track to open in the coming year, the Cleveland Scene reported on November 1.
Mudry, who will retain her position as Executive Director at West Park Kamm's Neighborhood Development, says that she and her husband have been exploring new ways to further enrich the community they love.
“Joel and I have been interested in doing our own thing for a while,” Mudry explains. “Joel has gotten a lot of experience in the industry, and I think it’s exciting to do something yourself. We’re both passionate and devoted Clevelanders so it makes sense to want to be able to invest in Northeast Ohio – to put our money where our mouth is.”
Warger worked at Great Lakes Brewing for 14 years before moving over to Goldhorn Brewery, where he was opening brewmaster and has continued on as head brewer for seven years.
When it opens next summer, Midnight
...More info on site
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USA, MD: BabyCat Brewery to open in Kensington this month
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After months of preparation, BabyCat Brewery is nearly ready to open its garage door to the Kensington community in early November, the Bethesda Beat reported.
The opening of the brewery at 10241 Kensington Parkway, which was formerly an auto repair shop, has been in the works for 18 months, but has long been a pursuit of founder Sam Mussomeli, who said he started considering the idea seriously about three and a half years ago.
Mussomeli said the brewery’s name was inspired by his cat Alice, a.k.a, “Baby Cat.”
“I started brewing about a decade ago and was in an apartment on Battery Lane [in Bethesda] and my wife and I have a very small cat that never really grew, her name is Alice. Her nickname is Baby Cat,” he said. “She was always hidden until the first day I started brewing beer and she came out and she sat with me in my kitchen for 10 hours straight. From there after, she came out and sat with me for every brew day. So she became the supervisor of me and it became BabyCat Brewery.”
The feline’s face is featured in a mural on the side of the business. Mussomeli said the mural is also
...More info on site
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USA, MT: Heineken agrees to increase purchase volume of Montana barley products
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In a big win for the state's agricultural community, an international brewer on November 1 agreed to increase its purchase volume of Montana barley products, the Missoula Current reported.
Gov. Greg Gianforte announced the deal on November 1, saying Heineken International will up the amount of product it purchases from Montana growers.
“We’re thrilled Heineken recognizes the superior quality of Montana barley and wants to do more business with our farmers,” Gianforte said in a statement. “This agreement ushers in tremendous opportunities for our ag industry.”
Gianforte signed the letter of intent in Bozeman.
Over the past five years, Heineken has sent three trade missions to Montana, according to the state Department of Agriculture. During their vision, Heineken representatives visited Montana State University's Plant Science and Malt Quality Labs and received a tour of the Ag Depot.
They also met with representatives from the Montana State Grain Lab, Columbia Grain, and United Grain.
“The Montana Department of Agriculture is proud of the exceptional quality of barley that we grow here in our state,” Montana ag director Christy Clark said. “We appreciate this group of buyers and representatives coming to Montana to source their high-quality barley needs.”
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USA, NY: New Lockport brewery plans move forward albeit with name change
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Matthew Martin and his brother CJ are continuing with their plans for opening a brewery at 13 W. Main St in the City of Lockport. Once completed, the brewery will also host a restaurant and gaming attractions that will include shuffleboard and bocce, the Yahoo News reported on October 29.
The business was originally to be called Barrier West Brewing, however, they were recently advised to choose a different name due to it being too similar to the name of another business in New York City. Martin said that they will be deciding on a new official name by next week, and it will likely have a Lockport theme to it.
"We want to have it connected with Lockport," Martin said. "We want to have it related in some way, shape, or form with our hometown. We're just working through some options for it right now."
At present, the Martins have finished demolishing and gutting the entirety of the building's interior. Martin said that he and his brother are now searching for a construction manager who will build the new interior. That work will likely begin in early December.
"Everything's been gutted out," Martin said. "Now it's just putting everything back together on the
...More info on site
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USA, IL: Lake Effect Brewing prepares to move to Avondale
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Lake Effect Brewing has less than two months in its Old Irving Park spot before the company packs up and prepares its move to Avondale, the Block Club Chicago reported on October 31.
Last week, brewery owner Clint Bautz announced the company will close its production facility at 4727 W. Montrose Ave., #C, on Dec. 15. Lake Effect is moving to an old auto repair shop in Avondale after backing out of plans to move into a historical Jefferson Park firehouse because the project was being slowed down.
The Avondale spot at 3076 N. Milwaukee Ave. has room for the brewery’s beer productions, an indoor taproom and a beer garden in the back, Bautz said. Renderings of the space shared online have been submitted to the city for zoning and liquor license approval, he said.
“We will get producing as soon as we can,” Bautz said.
The hope is the city approves the company’s beer license before the end of the year so there is minimal disruption to the beer production, though the company may partner with another brewery to make its beers if the timeline is slow, Bautz said.
The taproom could be open by spring, though it all depends on permits, licensing and
...More info on site
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USA, IA: Mistress Brewing Co. Taproom closes its doors in Ankeny
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Mistress Brewing Co. Taproom, the Ankeny brewery, closed its doors at the end of business on Oct. 31, The Des Moines Register reported.
The brewery from co-owners Jeff Heng and Shawn McNeeley opened in 2018 inside a former Dahl’s Foods grocery store at 1802 N. Ankeny Blvd.
“Unfortunately, COVID-19 was something we never really recovered from. Exploding labor and raw material costs, labor shortages and huge price increases from our suppliers have just been too much for us to overcome,” McNeeley wrote on Facebook.
“Jeff and I have had an amazing adventure, met incredible people and had memories that will last our lifetime,” he said.
In 2019, the brewery won a silver medal at the Great American Beer Festival for its Pumpkin Rumble.
The 9,000-square-foot beer hall sat 450 people with pints of flagship ales and seasonal beers on the 24 taps. McNeeley and Heng launched Mistress in 2016 as a bottle-only brewery, delivering 22-ounce bombers to the local liquor store, the Des Moines Register reported in 2018, before opening their brick-and-mortar.
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World: Economic slowdowns haven’t yet led to flat beer sales – AB InBev CEO
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Economic slowdowns around the world hasn't yet led to beer sales going flat for mega-brewer AB InBev, the Yahoo News reported on October 31.
"I
...More info on site
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World: Molson Coors’ third-quarter earnings miss analysts’ forecasts
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Molson Coors Brewing Company revealed on November 1 earnings for third quarter that decreased from the same period last year and missed the Street
...More info on site
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Vietnam: Vietnam’s craft beer industry growing both in size and reputation
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Across Districts 1, 2, and 3 of Vietnam’s Ho Chi Minh City, it’s easy to find craft beer breweries with operational capacities comparable to those in Western countries, the Vietnam Briefing reported on November 2.
Some 30 brewers have set up in Vietnam, welcoming a healthy flow of customers both pre and post-pandemic.
Vietnam is also home to the headquarters of award-winning brewer, Pasteur Street Brewing Company, with its reputed Marou cocoa pod-infused Cyclo Stout listed a must-try by Life and Travel Asia.
Indeed, Vietnam’s craft beer industry is growing not only in size but also reputation.
Vietnam’s beer consumption as of 2022 was 2.2 percent of the global market, at 3.8 million kilolitres of beer annually. This has made it the leader in the ASEAN region for beer consumption.
Key players dominating the market include both domestic and international brands like Heineken, Carlsberg, Sapporo Breweries, Hanoi Beer Alcohol and Beverage Corp. (Habeco), and Saigon Alcohol Beer and Beverage Corp. (Sabeco).
That is not to say there isn’t room for more made-in-Vietnam craft beers.
On the contrary, the Vietnamese craft beer market is not only booming but also injecting the industry with its own special taste of home.
Craft beer recipes in Vietnam have evolved in every kind
...More info on site
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Ireland: Diageo Ireland gets planning permission for a new brewery in Newbridge
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Diageo Ireland is set to build a multi-million euro brewery in Newbridge, County Kildare. The lagers and ales to be produced on this site
...More info on site
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UK: Final cereal quality results confirm lower protein levels
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The final set of results for the 2022 AHDB Cereal Quality Survey (CQS) are now available, AHDB reported on November 1.
The final results show
...More info on site
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Mexico: Bottler and retailer Femsa posts drop in third-quarter net profit
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Mexican bottler and retailer Femsa posted a drop in third-quarter net profit on October 28 to 10.75 billion pesos ($534.10 million), down 23.8% from a year ago as operating costs jumped, Yahoo Finance reported.
Quarterly revenue rose 20.5% year-on-year to 171.66 billion pesos ($8.66 billion), driven by increased sales across markets and beating the Refinitiv consensus of 163.17 billion pesos.
Operating costs rose in almost all of Femsa's divisions, including a 69.4% jump in its logistics and distribution business on increased transportation and labor costs.
Femsa said the rise in operating costs in its convenience store and fuel divisions was below the increase in revenue, which along with a drop in costs for its health division reflected "tight expense control."
Earnings from companies in which Femsa has controlling stakes, including Dutch beer maker Heineken, also took a hit in the quarter, Femsa said.
Heineken's beer volumes for the quarter were less than expected, showing signs of a slowdown in demand from some European markets.
Femsa's core earnings, or EBITDA, for the quarter rose 14.4% to 23.20 billion pesos.
Analysts at Mexican brokerage Monex said Femsa's results were "favorable" on the back of the bump in revenue and EBITDA and in line with estimates.
Monex said it would be
...More info on site
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India: United Breweries planning R350 crore capex
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Beer maker United Breweries Ltd, controlled by Dutch multinational brewing company Heineken, plans to infuse around ₹350 crore as capital expenditure in 2023 to meet the expected volume growth in the country, according to a top company official, The Economic Times reported on October 30.
The company has "good capex plans" in place for its breweries to meet anticipated volume growth going into 2023, said its Chief Financial Officer Radovan Sikorsky in its latest earning conference call.
"We remain optimistic on the long-term growth of the industry," he said adding the evolving consumer trends will drive premiumisation.
When asked about the Capex plan, the CFO replied: "For the coming January to December the capex spend we are looking at somewhere in the region of ₹350 crore."
Moreover, the leading beer maker expects inflationary pressure to continue and it would pursue price increases, in combination with cost measures, to mitigate these cost impacts.
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China: Chongqing Brewery records dramatic growth in nine-month sales volume and operating revenue
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Chongqing Brewery Company, a brewery whose headquarters is in Chongqing, Southwest China, recorded dramatic growth both in sales volume and operating revenue in the first three quarters of this year, the China Daily reported on October 28.
The company's sales volume grew 4.54 percent year-on-year to 2.53 million kilolitres in the last nine months, while its operating revenue increased 8.91 percent year-on-year to 12.2 billion yuan ($1.69 billion), according to the company's report, which was released on October 27 in Guangzhou, the capital of Guangdong province.
"High-end products played an important role in boosting sales," said Lee Chee Kong, president of Chongqing Brewery Company.
According to the company's financial report, main business income of high-end products, usually referring to those of 10 yuan or above per bottle, increased by 8.71 percent year-on-year in the first three quarters.
The Chongqing brewer has become the only platform operating Carlsberg brewery's business in China, after it completed the major asset restructuring with Carlsberg China in December 2020.
Based on local and international brand combination, the Chongqing brewer has been able to meet Chinese consumers' needs for higher quality beer in different scenarios, according to Lee.
"Expansion of local brands and dramatic increase of imported high-end brands from Carlsberg has
...More info on site
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Thailand: Thailand to ease entry barriers for liquor, beer producers
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Thailand’s government approved on November 1 a draft ministerial regulation to loosen curbs on liquor production by small-scale distillers, the Bangkok Post reported.
The Finance Ministry’s proposal aimed at amending the Excise Tax Act (2017) and improving the criteria for liquor production and licence applications, government spokesman Anucha Burapachaisri said.
Under the new regulation, the minimum registered capital for producers of fermented beverages, including beer and wine, will be lifted. However, they must be companies registered under Thai law and Thai nationals must acquire at least 51% of the shares. The minimum registered capital requirement is currently 10 million baht.
The new regulation will scrap the minimum beer production of 100,000 litres per year. However, the minimum production capacities for whisky, brandy and gin at 30,000 litres a day and for rice whisky at 90,000 litres a day will remain the same.
People will also be able to apply for production licences online.
"This is to promote competition in the business while the state's interest through its excise tax collection and the product quality and safety standards will remain unchanged," Mr Anucha said.
Dubbed the “progressive liquor bill”, it passed its first reading in parliament in June, and is now being scrutinised by a
...More info on site
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Kenya: Investors sell Sh285.8 mln worth of EABL shares since Diageo’s offer to raise stake in beer maker
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Investors have sold Sh285.8 million worth of East African Breweries Plc (EABL) shares in profit-taking trades since Diageo Plc made an offer to raise its stake in the Nairobi Securities Exchange-listed firm at a price of Sh192 per share, the Business Daily Africa reported on October 31.
The multinational announced on October 14 that it will buy an additional 118.3 million shares in EABL through a tender offer.
The move has lifted the brewer’s share price and created an opportunity for some investors to sell their holdings at a profit ahead of Diageo’s purchases which will occur over 40 days starting January 30, 2023.
EABL’s share price gained 23.1 percent on the day of the material announcement compared to the previous closing of Sh138. It has declined slightly to the October 28th’s price of Sh167.25. The share price has traded below Sh150 on most days since the start of the year, underlining the premium of Diageo’s offer and its impact on lifting the stock since the announcement.
Market data shows that investors have sold a total of 1.68 million EABL shares since October 14, cashing out Sh285.8 million collectively.
The bulk of the sales, Sh209.9 million, were recorded in the first three days of the
...More info on site
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Ukraine: Grain exports fall to 4.22 mln tonnes in October
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Ukraine's grain exports fell to 4.22 million tonnes in October 2022 from 5.05 million tonnes in the same month of the previous year, the agriculture ministry said on October 31.
The ministry said this month's volume included 1.9 million tonnes of wheat, almost 2 million tonnes of corn and 313,000 tonnes of barley.
It said Ukraine had exported a total of 12.9 million tonnes of grain so far in the July 2022 to June 2023 season versus 19.4 million tonnes in the same period of 2021/22.
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Russia & Ukraine: Russia agrees to re-join Ukraine grain exports deal
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Grain shipments from Ukraine will resume on November 2 after Russia agreed to re-join a UN-backed initiative to allow exports via the Black Sea, ending a stand-off that threatened to reignite a global food crisis, The Financial Times reported.
Turkey’s president Recep Tayyip Erdoğan said Sergei Shoigu, the Russian defence minister, had phoned his Turkish counterpart to say Moscow was back on board.
Addressing his security council on November 2, Russian president Vladimir Putin said Russia would continue to supply “the volume of grain that was supplied from Ukraine to the poorest countries” even if the latest agreement collapsed. Many Middle East and African countries have been sympathetic to Moscow’s arguments that sanctions — rather than the invasion of its neighbour Ukraine — are the main obstacle to grain exports.
The next shipments of grain would head to Somalia, Djibouti and Sudan, Erdoğan said. The Turkish leader, who has maintained close ties with Putin since Moscow launched its full-scale invasion in February, helped broker the original grain deal in July.
Russia quit the pact on October 29, accusing Kyiv of targeting its naval fleet in the Black Sea following claims of a Ukrainian drone attack on its warships. Moscow’s withdrawal threatened a rare example
...More info on site
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Romania: The first locally-produced single malt whisky launched in Romania
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Carpathian Single Malt, the first single malt whisky produced in Romania, was launched on the Romanian market on October 27 through a large-scale event held in Bucharest. The whisky made by Alexandrion Group can currently be purchased online only, but the company said that several offline options would also be available starting mid-November, the Romania Insider reported.
Allan Anderson is the master distiller of Carpathian Single Malt. He has 30 years of experience both in the production of Scotch whisky (Loch Lomond, Whyte & Mackay, Aberargie) and Irish whisky (The Great Northern Distillery), and he also designed the Slane Castle distillery in Ireland.
“Five years ago, we started the journey on a road no one else dared to explore before. I had no fears because I knew what extraordinary natural resources Romania has, and I knew that I was surrounded by a strong, competent team, people capable of helping me turn into reality my dream of putting Romania on the map of single malt whisky producers. Also, the experience and energy of master distiller Allan Anderson, who coordinated the production process, were essential for the success of this product,” said Dr. Nawaf Salameh, Founding Chairman of Alexandrion Group.
“And the feedback from whisky
...More info on site
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UK: Beer delivery drivers suspend plans to take strike action
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About 1,000 British beer delivery drivers have suspended plans to take strike action at the end of this month after receiving a better pay offer from logistics company GXO, the Unite union said on October 27.
"Following a significantly improved pay offer from GXO the strike action planned for next week has been suspended as an act of good faith," Unite national officer for food, drink and agriculture Joe Clarke said.
GXO drivers make around 40% of UK beer deliveries.
The strikes, originally planned from Oct. 31 and Nov. 4, would have impacted beer supplies to pubs and venues supplied by major breweries, including Heineken, Stonegate, Admiral Taverns and Shepherd Neame, Unite had said.
GXO said it was pleased with the union's decision.
"We are committed to ensuring our employees benefit from competitive pay and benefits, and an inclusive, collaborative culture that rewards performance," a spokesperson for the New York-listed company said.
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