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E-Malt.com Newsletter 08a
February 20 - February 22, 2023
Quote of the Week
The best beer in the world is the open bottle in your hand.
Danny Jansen
Currency Rates
Base Currency: US Dollar
on February 22, 2023 |
Base Currency: Canadian Dollar
on February 22, 2023 |
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1 USD = 0.9379 EUR
1 USD = 0.8282 GBP
1 USD = 1.3492 CAD
1 USD = 1.4538 AUD
1 USD = 134.6840 JPY
1 USD = 5.1661 BRL
1 USD = 74.5849 RUB
1 USD = 6.8712 CNY
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1 CAD = 0.7411 USD
1 CAD = 0.6138 GBP
1 CAD = 0.6950 EUR
1 CAD = 1.0773 AUD
1 CAD = 99.8068 JPY
1 CAD = 3.8283 BRL
1 CAD = 55.2709 RUB
1 CAD = 5.0919 CNY
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Currency Rates Chart
Equities of the Largest Breweries
World: Molson Coors reports US$590.5 mln net loss in its latest quarter
...Click here
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Canada: Non-alcoholic beverage companies working hard to meet rising demand
...Click here
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USA, NH: AB InBev invests in state-of-the-art can line at its Portsmouth brewery
...Click here
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USA, ND: Junkyard Brewing Company planning second location in downtown West Fargo
...Click here
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USA, NC: Uwharrie Brewing to open this weekend as Albemarle’s first brewey
...Click here
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The Netherlands & Russia: Heineken still plans to exit Russia, take EUR300 mln loss
...Click here
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The Netherlands & Russia: Heineken still investing in Russia, launches 61 new products in 2022
...Click here
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Ethiopia: BGI Ethiopia invests Birr 500 mln in Meta Abo Brewery
...Click here
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South Korea: Beer and soju prices rise more steeply last year than at any time since late 1990s
...Click here
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France: French farmers sow more than half of expected spring barley area
...Click here
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UK: Carlsberg Marston’s Brewing Company to increase wholesale prices across its portfolio
...Click here
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South Africa: Beer Association calling for amendments to current excise regime
...Click here
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India: Indian agency accuses Pernod Ricard of more policy violations
...Click here
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UK & China: UK craft beer maker Brewdog partners with Budweiser for China expansion
...Click here
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India: United Breweries MD and CEO Rishi Pardal resigns
...Click here
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Graph of the Week
Table of the Week
EU & UK Malt Production Capacity
Prices Evolution
Barley Prices
Theoretical Malt Prices
These Days in Business History
20 February
1768 - 1st American chartered fire insurance company opens
1811 - Austria declares bankruptcy
1848 - Edward H. Harriman is born in Hempstead. By age 50 he commands the Union Pacific and Southern Pacific railways, making him one of the most powerful railroad barons in the world
21 February
1914 - The Hong Kong Stock Exchange (formerly the Association of Stock Brokers in Hong Kong) is established
1947 - Edwin H. Land, founder of Polaroid Corp., demonstrates the instant camera to 650 scientists assembled at the annual meeting of the Optical Society of America
1988 - Peter Kalikow purchases New York Post from Rupert Murdoch for $37.6 million
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
Agenda
February 2023:
20 - 23: Beer & Food Attraction 2023 (Rimini, Italy)
23 - 25: Brewer World Conclave 2023 (Bengaluru, India)
March 2023:
07 - 09: Expo Antad & Alimentaria Mexico 2023 (Expo Guadalajara, Jalisco, Mexico)
08 - 11: Festival Brasileiro da Cerveja 2023 (Blumenau, Brazil)
15 - 16: BeerX 2023 (Liverpool, UK)
20 - 24: IBD Asia Pacific Convention 2023 (Adelaide, Australia)
23 - 25: Warsaw Beer Festival 2023 (Warsaw, Poland)
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)
22 - 23: Zythos Beer Festival 2023 (Kortrijk, Belgium)
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)
12 - 13: Copenhagen Beer Festival 2023 (Copenhagen, Denmark)
18 - 21: Mondial de la Biere 2023 (Montreal, Canada)
21 - 23: The Brewers of Europe Forum 2023 (Prague, the Czech Republic)
22 - 28: Budapest Beer Week 2023 (Budapest, Hungary)
24 - 25: 34d International VLB Craft Brewing Conference (Online)
25 - 27: InnBrew 2023 (Barcelona, Spain)
26 - 28: Barcelona Beer Festival 2023 (Barcelona, Spain)
30 - 01 June: Beviale Mexico 2023 (Mexico City, Mexico)
30 - 01 June: Craft Beer China 2023 (Shanghai, China)
June 2023:
01 - 04: Wiener Bierfest 2023 (Vienna, Austria)
05 - 06: Tallinn Craft Beer Weekend 2023 (Tallinn, Estonia)
10 - 11: Bruges Beer Festival 2023 (Bruges, Belgium)
13 - 14: VLB Africa Brewing Conference 2023 (Douala, Cameroon)
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)
18 - 19: Beervana 2023 (Wellington, New Zealand)
September 2023:
16 - 03 October: Oktoberfest 2023 (Munich, Germany)
18 - 20: 13th Iberoamerican VLB Symposium Brewing & Filling Technology (IBS) (Bogota, Colombia)
October 2023:
04 - 06: Drink Technology India 2023 (Pragati Maidan, New Delhi, India)
08 - 10: EBC Symposium 2023 (Salzburg, Austria)
10 - 12: International Beer Strategies Conference 2023 (Berlin, Germany)
19 - 20: Brew Asia 2023 (Ho Chi Minh City, Vietnam)
20 - 21: Salon du Brasseur 2023 (Parc Expo Nancy, France)
21 - 23: Whisky Live Paris 2023 (Paris, France)
November 2023:
28 - 30: Brau Beviale 2022 (Nuremberg, Germany)
December 2023:
06 - 08: Drink Japan 2023 (Makuhari Messe, Japan)
News Articles
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World: Molson Coors reports US$590.5 mln net loss in its latest quarter
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Molson Coors Beverage Co. reported a net loss US$590.5 million in its latest quarter, down from a profit of US$80 million in the same
...More info on site
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Canada: Non-alcoholic beverage companies working hard to meet rising demand
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As Canadians increasingly look to drink less or not at all, non-alcoholic beverage companies are working hard to meet the rising demand and are sometimes struggling to keep up, the Global News reported on February 19.
Interest has been brewing for the last couple of years, with an increase in sales during “Dry January” as the concept gains in popularity, says Bob Huitema, who launched the non-alcoholic spirits company Sobrii in 2019.
In just the past few years, he says, the industry has “exploded” with more companies producing non-alcoholic drinks.
Mitch Cobb, the co-founder and CEO of Libra Non-Alcoholic Craft Beer, launched a single non-alcoholic beer in October 2020 at Upstreet Craft Brewing in Charlottetown. Since then, increased demand has led to him expanding non-alcoholic offerings and recently spinning Libra off into a separate company.
“It has absolutely started to take off,” he said.
Cobb also noted that it’s becoming easier to sell to restaurants and grocers, which were once skeptical that customers would buy the drinks.
“As soon as we got the shelf space, sales would take off.”
But that increased demand has led to some hiccups along the way.
On a few occasions, Cobb said, demand was a lot higher than what he expected, leading to
...More info on site
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USA, NH: AB InBev invests in state-of-the-art can line at its Portsmouth brewery
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Anheuser-Busch, the country’s leading brewer and American manufacturer, on February 17 announced its $6 million investment in its Portsmouth, NH brewery. The funding will go toward building a state-of-the-art can line at the facility, which produces the company’s beer, cider and hard tea offerings. The revamped can line will enable the facility to brew and package a forecasted 29% more beer in 2023. In 2024, production is expected to increase to produce 56% more beer.
“As a company, we’re committed to investing in our facilities and supporting our local communities by creating and sustaining jobs,” said Brendan Whitworth, CEO of Anheuser-Busch. “Our Portsmouth brewery plays an important role in producing beers and other high-quality products for our consumers to enjoy. This isn’t just an investment in our local facility—it’s an investment in a community where we live, work and operate.”
Anheuser-Busch’s Portsmouth, NH brewery has a storied brewing history. In 1996, Washington state-based Redhook Brewery built the facility to be an exact replica of its original Woodinville, WA brewery, making Redhook the first bi-coastal craft brewing operation in the U.S. In 2016, the current can line was added to accommodate consumers’ changing preferences from bottles to cans. In 2018, the
...More info on site
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USA, ND: Junkyard Brewing Company planning second location in downtown West Fargo
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A beloved Moorhead brewing company is promising to open a second location in downtown West Fargo for at least 10 years with nearly $690,000 in help from the West Fargo taxpayers, InForum reported on February 21.
Junkyard Brewing Company announced Tuesday, Feb. 21, it plans to move to the former Bell Bank location at 409 Sheyenne Street before the end of the year.
"Renovations on the building are scheduled to begin in March, and if all goes according to plan, beer enthusiasts can look forward to raising a glass and celebrating the business opening later in 2023," said a release from Junkyard Brewing.
The release was sent shortly after the West Fargo City Commission unanimously approved a five-year PILOT program for the company totaling $249,470 and a business incentive program of about $440,000, creating a total investment of about $690,000 from taxpayers.
The PILOT (payment in lieu of taxes) allows for Junkyard to receive a property tax break on a sliding scale for five years. West Fargo's business incentive program is a grant paid for by the city's economic development sales tax money. West Fargo currently charges a half-cent sales tax to pay for programs and plans that promote economic development within the city.
West
...More info on site
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USA, NC: Uwharrie Brewing to open this weekend as Albemarle’s first brewey
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After years of work and preparation, history will be made this weekend as Albemarle’s first brewery opens to the public, The Stanley News & Press Online reported on February 20.
Uwharrie Brewing will have its grand opening 2-11 p.m. Saturday, February 25, complete with a ribbon cutting with the Stanly County Chamber of Commerce.
It will be Stanly County’s third brewery, after The Brew Room and Buzzed Viking Brewing Company, which both opened last year in Locust. Uwharrie is housed in the 9,500-square-foot brick building behind City Hall on North Third Street, which used to be the old Fire Station 3.
Owner Colton Baker said he is excited about his role in bringing the first brewery to Albemarle.
“I just think it’s great for the growth,” he said. “It’s something that’s been needed. A lot of people have been asking for a brewery for close to a decade now at this point.”
“This is a groundbreaking moment for downtown Albemarle,” said Albemarle Downtown Development Director Joy Almond. “Not only is Uwharrie Brewing building on the fun, positive atmosphere in our district, but also adding the element of small manufacturing that has proven to be a strong economic
...More info on site
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The Netherlands & Russia: Heineken still plans to exit Russia, take EUR300 mln loss
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Brewer Heineken still plans to exit Russia and sell its business there at a loss this year, it said on February 22, after a
...More info on site
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The Netherlands & Russia: Heineken still investing in Russia, launches 61 new products in 2022
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Despite promising to stop investing in Russia after the country invaded Ukraine a year ago, Heineken launched no less than 61 new products on
...More info on site
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Ethiopia: BGI Ethiopia invests Birr 500 mln in Meta Abo Brewery
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BGI Ethiopia, a subsidiary of the Castel Group, has invested Birr 500 million into Meta Abo Brewery. BGI’s investment is used to remodel and
...More info on site
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South Korea: Beer and soju prices rise more steeply last year than at any time since late 1990s
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South Korea’s beer and soju prices rose more steeply last year than at any time since the Asian financial crisis of the late 1990s,
...More info on site
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World: Beam Suntory enjoys strong sales in 2022
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Beam Suntory’s 2022 figures have shown a “strong” sales rise owing to success of its spirits and growing ready-to-drink (RTD) portfolio, The Drinks Business reported on February 17.
The drinks giant revealed net sales rise 10.5% year-on-year, representing 24% growth versus the pre-pandemic year of 2019.
According to the results, premium brands grew 15% in 2022, and now represent more than half of the company’s “full bottle spirits sales for the first time ever”. Additionally, RTD brand sales grew 16% driven by performance in Japan, Australia and the US.
Speaking about the results, Albert Baladi, president and CEO of Beam Suntory, said: “The quality of these results is clear and reflects our strategy to premiumise our spirits portfolio, build RTD leadership, and focus on value over volume.”
Baladi added: “We delivered these results despite significant challenges including supply chain disruptions, record inflationary pressures, our withdrawal from Russia, and restrictive Covid policies in China.”
In terms of brand performance, sales growth accelerated up the price ladder for key Bourbon brands, as Jim Beam grew at a single digit rate, Maker’s Mark grew 11% and Basil Hayden surged 40%.
Furthermore, Roku, Hibiki, Yamazaki, Bowmore, Knob Creek, Tres Generaciones and Hornitos all delivered impressive double-digit sales gains.
As an established
...More info on site
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France: French farmers sow more than half of expected spring barley area
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Most French wheat crops remain in good condition and farmers have sown more than half of the expected spring barley area, data from farm office FranceAgriMer showed on February 17.
An estimated 93% of French soft wheat crops were in good or excellent condition in the week to Feb. 13, up from 92% the previous week, the data showed.
The score was slightly below the 95% registered a year earlier, it said in a cereal crop report.
The rating was also down from the 97% estimated in FranceAgriMer's previous crop report in early December.
The data supports market expectations that crops came through unharmed after mild and freezing spells since December, though a very dry February is causing concern over soil moisture for the spring growing period.
For winter barley, 92% of the crop was rated good or excellent, while durum wheat scored 93%.
Farmers had made rapid progress in sowing spring barley, the first major cereal crop to be drilled at the end of winter.
Some 58% of the expected area had been sown, compared with 26% for the same week last year and an average 16% over the previous five years, FranceAgriMer's data shows.
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UK: Carlsberg Marston’s Brewing Company to increase wholesale prices across its portfolio
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Carlsberg Marston’s Brewing Company (CMBC) is set to increase wholesale selling prices across its portfolio by a minimum of 11% for draught products and from about 6% for packaged products, which the company put down to rising cost pressures.
A letter seen by The Morning Advertiser, stated the price increase will be implemented from Monday 20 March 2023.Lager prices will increase by between 11% and 12% per keg as will cask ale prices.
Carlsberg Export 30-litre keg has increased by 11.53%, Brooklyn Lager by 11.92% while an Estrella Damm 50-litre keg has risen by 12.03%.
For cask, Marston’s 61 Deep has increased by 11.64% while the price for Pedigree has been pushed up by 11.56%.
For packaged products, the rise is smaller as most will rise by just under 6% (5.99%) to 8%. Brooklyn Lager (24 x 330ml) will cost 6.35% more and Carlsberg Export (24 x 330ml) will be 6.35% more.
A spokesperson for CMBC said cost increases were the result of the impact of ongoing price pressures despite the business holding off price hikes.
The spokesperson added: “Like many other UK businesses, we continue to face increasing cost pressures relating to the production, distribution and transportation of our products.
“Consequently and despite all our efforts
...More info on site
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South Africa: Beer Association calling for amendments to current excise regime
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South Africa's beer industry, still recovering from the Covid-19 national lockdown and four alcohol sales bans, is being further devastated by the country's energy crisis and ongoing bouts of load shedding. Ahead of the Budget Speech this week, the Beer Association of South Africa (Basa) is calling on Finance Minister Enoch Godongwana to announce amendments to the current excise regime governing the alcohol industry in a bid to provide a lifeline to thousands of business across the beer value chain, the BizCommunity reported on February 20.
Power outages have impacted the entire value chain, with craft brewers who barely managed to keep their doors open during the Covid-19 pandemic, most acutely affected. Basa noted that brewers need at least nine hours of uninterrupted electricity supply in order to brew beer, which means load shedding above Stage 3 makes it impossible to complete this process.
Power outages have also disrupted the delivery of raw materials to produce beer as well as the packaging and delivery of beer to customers. Some craft brewers have invested in alternative energy supplies in order to keep their businesses operational including generators, inverters and batteries, however, this has added major financial strain on these businesses who were still
...More info on site
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India: Indian agency accuses Pernod Ricard of more policy violations
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An Indian investigating agency has accused French spirits group Pernod Ricard in court documents of illegally making profits in India of $23 million by
...More info on site
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UK & China: UK craft beer maker Brewdog partners with Budweiser for China expansion
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UK-based craft beer maker Brewdog is expanding in China after partnering with brewing giant Budweiser, BBC reported on February 20.
The joint venture with Budweiser China will see the Scottish firm's Punk IPA and other beers brewed in China.
Brewdog also says it plans to open more bars in the world's second largest economy.
It comes after the company has faced controversies in recent years and has flagged it may pursue a stock market listing.
In a statement, Brewdog founder James Watt described the Budweiser partnership as "transformational" and said it would bring the craft brewery to "every corner of the world's biggest beer market".
Under the deal, Brewdog said it expects its beers would begin to be produced at Budweiser China's Putian craft brewery, in the south-eastern province of Fujian, by the end of next month.
The company said it also plans to open several bars in the country in the next three years.
China, which is the world's biggest market for beer, currently accounts for less than 1% of Brewdog's overall sales.
It is the company's second tie-up in Asia following a deal with Asahi in Japan in 2021, which Brewdog said helped it double its sales in the country.
The company says it currently has an
...More info on site
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India: United Breweries MD and CEO Rishi Pardal resigns
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United Breweries Limited (UBL), part of the Heineken Company, announced that its Managing Director and Chief Executive Officer, Rishi Pardal, tendered his resignation on February 16 and accordingly, his six months’ notice period will commence, The Hindu Business Line reported.
Rishi Pardal, served as the Managing Director and Chief Executive Officer of United Breweries for around three years. Previously, Pardal was the Vice-President and General Manager, Global Apparel Solutions at Avery Dennison, according to his LinkedIn profile.
Jacco van der Linden, President – Asia Pacific, Heineken, said, “With Rishi’s leadership, UBL has successfully navigated through Covid challenges and has made significant steps in integrating UBL into the Heineken Group while keeping a focus on the business. We are thankful for the leadership, and experience Rishi has brought to the company.”
During Rishi’s tenure, UBL has deepened the company’s bench of talented executives with a good mix of externally recruited and Heineken talented and experienced leaders. The executive team will continue to drive the business forward, he added.
The outgoing CEO Pardal said, “The past years have been important in the company’s evolution. UBL is well-positioned to shape the future of beer and beyond.”
Heineken obtained control of UBL in India in July 2021, following
...More info on site
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