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E-Malt.com Flash 13a
March 27 - March 29, 2023
Quote of the Week
A fine beer may be judged with only one sip, but it's better to be thoroughly sure.
Czech proverb
Currency Rates
Base Currency: Euro
on March 29, 2023 |
Base Currency: US Dollar
on March 29, 2023 |
| |
1 EUR = 1.0827 USD
1 EUR = 0.8787 GBP
1 EUR = 1.4761 CAD
1 EUR = 1.6184 AUD
1 EUR = 141.6960 JPY
1 EUR = 5.6261 BRL
1 EUR = 83.0946 RUB
1 EUR = 7.4428 CNY
|
|
1 USD = 0.9235 EUR
1 USD = 0.8115 GBP
1 USD = 1.3633 CAD
1 USD = 1.4946 AUD
1 USD = 130.8610 JPY
1 USD = 5.1962 BRL
1 USD = 76.7458 RUB
1 USD = 6.8741 CNY
|
Currency Rates Chart
Equities of the Largest Breweries
Average Market Prices Change Trend
| March 29, 2023 |
French Barley/Malt
Crop 2022
Bulk |
EUR/T |
% |
| 2RS Malting Barley (FOB Creil) |
289.00-291.00 |  0.68% |
| 6RW Malting Barley (FOB Creil) |
264.00-266.00 | 0.75% |
| Feed Barley (FOB Creil) |
251.00-253.00 |  2.44% |
| 2RS Malt (FOB Antwerp) |
607.50-609.50 | 0.40% |
| 6RW Malt (FOB Antwerp) |
576.50-578.50 | 0.42% |
French Barley/Malt
Crop 2023
Bulk |
EUR/T |
% |
| 2RS Malting Barley (FOB Creil) |
296.00-298.00 |  |
| 6RW Malting Barley (FOB Creil) |
280.00-282.00 | |
| 2RS Malt (FOB Antwerp) |
613.00-615.00 | |
| 6RW Malt (FOB Antwerp) |
649.00-651.00 | |
German Malting Barley
Crop 2022
Bulk
Ex Farm |
EUR/T |
% |
| Average Malting Barley Price |
nq | |
 No change;
 Price increase;
 Price decrease versus last publication.
|
Click here to see our Market Prices History.
World: Malteries Soufflet makes non-binding offer to acquire Australia’s United Malt Group
...Click here
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UK: Production starts at Bairds Malt’s new facility in Inverness
...Click here
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World: AB InBev continues to lead global most valuable beer companies list
...Click here
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China: Tsingtao Brewery’s full-year net profit increases 17%
...Click here
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China: China Resources Beer reports slight drop in 2022 net profit
...Click here
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South Korea: Oriental Brewery facing increasing competition from rival HiteJinro
...Click here
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Canada: Government caps rise in excise tax on beer and other drinks
...Click here
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Vietnam: Heineken fighting planned Vietnam alcohol tax increase
...Click here
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World: Barley crop 2023 forecast adjusted downward to 146.4 mln tonnes
...Click here
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EU & UK: Barley crop forecast mostly unchanged for 2023
...Click here
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Canada: No big shift in barley acres expected in 2023
...Click here
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Belgium: Uncertainties hover over the future of Trappist beer production as vocations run dry
...Click here
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Kenya, Uganda & Tanzania: Diageo completes partial tender offer to increase stake in East African Breweries
...Click here
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World: Diageo appoints Debra Crew as CEO to replace retiring long-time boss Ivan Menezes
...Click here
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USA: Speculation circles around potential Heineken takeover of Boston Beer
...Click here
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Jamaica: Red Stripe launching beer production expansion project
...Click here
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World: Japan’s Kirin Brewery looking overseas to expand its Fuji whisky brand
...Click here
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UK: JD Wetherspoon could stop serving Stella Artois and Budweiser it its pubs
...Click here
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Graph of the week
Table of the week
South America Barley Production, Import, Consumption, and Ending Stocks
Prices Evolution
Barley Prices
Theoretical Malt Prices
These Days in Business History
27 March
1855 - Abraham Gesner patents kerosene
1999 - The macro virus "Melissa" was reported for the first
28 March
1797 - Nathaniel Briggs of NH patents a washing machine
1841 - 1st U.S. steam fire engine tested, New York City
1866 - 1st ambulance goes into service
29 March
1886 - Chemist John Pemberton begins to advertise for Coca-Coke
1888 - James E. Casey is born, founder of United Parcel Service
1918 - Sam Moore Walton, future founder of Wal-Mart, is born in Kingfisher, Okla
Agenda
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: Craft Beer China 2023 (Shanghai, China)
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)
10 - 11: Bruges Beer Festival 2023 (Bruges, Belgium)
12 - 13: IGC Grains Conference 2023 (London, UK)
13 - 14: VLB Africa Brewing Conference 2023 (Douala, Cameroon)
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)
February 2024:
23 - 25: Finest Spirits 2024 (Munich, Germany)
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Malt News
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World: Malteries Soufflet makes non-binding offer to acquire Australia’s United Malt Group
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United Malt Group has received an indicative, non-binding offer from Malteries Soufflet, a branch of French agribusiness InVivo, the Australian commercial maltster said on
...More info on site
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UK: Production starts at Bairds Malt’s new facility in Inverness
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Production has now started at a new state-of-the-art malting plant in Inverness, the Inverness Courier reported on March 27
The expansion at Bairds Malt in
...More info on site
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Brewery News
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World: AB InBev continues to lead global most valuable beer companies list
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The importance of the alcohol industry, and the beer industry in particular, considering the fact that a quarter of the global population or around
...More info on site
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China: Tsingtao Brewery’s full-year net profit increases 17%
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Tsingtao Brewery Co. posted a 17% increase in its full-year net profit, supported by an improvement in its product mix and digital marketing efforts,
...More info on site
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China: China Resources Beer reports slight drop in 2022 net profit
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China Resources Beer (Holdings) Co. said on March 24 that its net profit fell slightly in 2022 as consumption weakened amid the Covid-19 pandemic.
The
...More info on site
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Canada: Government caps rise in excise tax on beer and other drinks
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Canada’s federal government has capped the rise in excise tax on beverage alcohol products.
In its budget, Ottawa has issued a short-term limit on the inflationary adjustment planned for the tax.
Canada’s federal alcohol escalator tax automatically increases excise taxes on beer, wine and spirits every year by the rate of inflation. It was set to increase by 6.3% on 1 April.
“This proposal temporarily caps the inflation adjustment for excise duties on all alcoholic products at 2% for one year only as of April 1, 2023,” the budget stated.
As expected, the move was welcomed by the beverage-alcohol sector.
Beer Canada, the trade body for the country’s brewing industry, said an increase of 6.3% would have been the largest beer tax hike imposed on Canadians in 40 years.
CJ Hélie, the president of Beer Canada, said the budget had “responded to today’s unique business circumstances, a struggling hospitality sector and a fragile consumer”.
A similar sentiment emerged from the country’s wine sector. “Wine Growers Canada applauds the government for their commitment to the Canadian wine industry by placing a maximum inflationary cap on the annual indexation of Canada’s excise duty rates on wine,” Dan Paszkowski, the president and CEO of Wine Growers Canada, said.
Jan Westcott, the
...More info on site
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South Korea: Oriental Brewery facing increasing competition from rival HiteJinro
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Oriental Brewery (OB), Korea's leading brewer, faces increasing competition in the local beer market from long-time rival HiteJinro, which has been catching up quickly
...More info on site
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Vietnam: Heineken fighting planned Vietnam alcohol tax increase
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Since 2022, Vietnam's government has debated whether to increase the special consumption tax that applies to harmful products such as alcohol, cigarettes and soft drinks.
Doing so, some think, would hit two birds with one stone: increase state revenue and make alcoholic products more expensive, thereby discouraging consumption by people with drinking problems.
Vietnam's public debt is falling — down to around 44% of GDP last year, according to official records — but the government needs to recalibrate its revenue collection practices.
Free-trade deals have cut tariffs, and the government is under more pressure to invest domestically. As a result, Hanoi knows it needs to rely, more than ever, on domestic sources of revenue. State takings from export-import activities were down 19.4% in the first two months of this year, compared to the same period in 2022, the General Department of Vietnam Customs reports.
Tax receipts overall were up 16.7%, and domestic taxation accounted for 96% of the total revenues, according to media reports that cited the General Department of Taxation.
In 2019, the average beer consumption per person in Vietnam was 47.6 liters (12.4 gallons), the third-highest in Asia after China and Japan. A study published in 2019
...More info on site
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Belgium: Uncertainties hover over the future of Trappist beer production as vocations run dry
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For nearly 190 years the monks of Westmalle in northern Belgium have been involved in making beer. They began brewing in this corner of Flanders in 1836 to have an alternative to milk or water with their daily bread. Today, Westmalle is an international brand, producing 40m bottles of three varieties of beer a year, mostly for Belgium and the Netherlands, but also enjoyed by beer connoisseurs in Britain, France, Italy and beyond, the Guardian reported on March 26.
Yet uncertainties hover over the future of Trappist beer production in this traditionally Catholic country, where fewer people are drawn to a life of monastic contemplation.
Those questions became more acute in January when Belgium’s Achel beer lost its Trappist status after being taken over by a private entrepreneur. The new owner has vowed to keep the recipe unchanged, but after the severing of ties with monks, Achel can no longer call itself a Trappist beer. “It must be admitted that the state of most monastic communities is precarious,” said Brother Benedikt, the abbot of Westmalle, in a rare media interview in which he answered the Observer’s questions in writing, translated from his native Dutch.
According to the International Trappist Association (ITA), beer, cheese
...More info on site
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Kenya, Uganda & Tanzania: Diageo completes partial tender offer to increase stake in East African Breweries
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Diageo, through its wholly-owned indirect subsidiary Diageo Kenya Limited (“Diageo Kenya”), is pleased to announce that it has successfully completed the partial tender offer to increase its aggregate equity stake in East African Breweries PLC (“EABL”) from the current 50.03% to 65% (the “Tender Offer”).
Noting that the Tender Offer was oversubscribed, Diageo Kenya applied the scale-down mechanism, specified in the Tender Offer Document, to purchase a pro-rata proportion of the shares that were tendered.
EABL is a regional leader in beverage alcohol with an exceptional collection of brands across beer and spirits. Although the business is concentrated on three core markets of Kenya, Uganda and Tanzania, its products are sold in more than 10 countries across Africa and beyond. These include among others Tusker, Guinness, Bell Lager, Serengeti Lager, Kenya Cane, Chrome Vodka, Johnnie Walker, Captain Morgan and Smirnoff. EABL’s ambition is to be one of the best performing, most trusted and respected consumer products companies in Africa.
Diageo is a global leader in beverage alcohol with an outstanding collection of brands including Johnnie Walker, Crown Royal, JεB and Buchanan’s whiskies, Smirnoff, Cîroc and Ketel One vodkas, Captain Morgan, Baileys, Don Julio, Tanqueray and Guinness.
Diageo is a global company whose products are
...More info on site
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World: Diageo appoints Debra Crew as CEO to replace retiring long-time boss Ivan Menezes
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Diageo on March 28 appointed Chief Operating Officer (COO) Debra Crew as CEO to replace retiring long-time boss Ivan Menezes, becoming one of only a handful of women to lead a company in Britain's blue-chip FTSE 100 index, Reuters reported.
The world's biggest spirits company, which makes Johnnie Walker whisky, Tanqueray gin and Don Julio tequila, said Crew, 52, would take up her new role on July 1, bringing the total of female CEO of FTSE 100 members to 10.
An industry veteran who became COO last year, Crew had been president of Diageo North America, its largest market, and Global Supply from 2020. Her elevation comes as Diageo is trying to cement its dominance in the United States and establish several premium brands, in a post-COVID world in which people are going out again and making fewer cocktails at home.
The former U.S. military intelligence officer was previously CEO of tobacco company Reynolds American, where she had also served as COO. Prior to that Crew held roles at Pepsico, Kraft Foods, Nestle and Mars.
"Crew was the most likely CEO successor, so no surprise there," said Tineke Frikkee, a fund manager at Diageo investor Waverton Asset Management. "She is very experienced in Diageo’s
...More info on site
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USA: Speculation circles around potential Heineken takeover of Boston Beer
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It has not been a happy three years for Boston Beer, the craft brewer founded in the mid-1908s and which became a Wall Street favourite, The Drinks Business reported on March 24.
After riding high on the hard seltzer boom in the run up to the coronavirus, Boston and its shares fell from grace when it almost bet the ranch and lost on its Truly brand only to see demand hit the brakes leaving it to write off huge amounts of stock.
Speculation of a takeover of Boston has been triggered on Wall Street by analyst Nadine Sarwat of the Bernstein investment house.
She has suggested to clients that Heineken is running its eye over Boston because the existing market positions of brands such as Truly and Twisted Tea could fill a strategic hole in the armoury of the world’s third largest brewer.
While she does not believe a deal is imminent, she says such a move holds “strategic rationale for both parties.”
“Heineken have commented that they have a brand problem in the USA, not a scale problem, pointing out the spectacular success of Craft and FMBs. Whilst we agree with their diagnosis, we do see a potentially attractive logic to buying Boston Beer..
...More info on site
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Jamaica: Red Stripe launching beer production expansion project
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Red Stripe will launch its $2.2 billion cellars expansion for beer production, known as the CERS project, on March 28, the Loop Jamaica reported.
The project represents a significant investment in modernizing the brewing operations, satisfying growing demand, and expanding Jamaica's manufacturing industry.
The expansion will increase beer production by 34 per cent, improve operational sustainability, boost efficiency and safety and mitigate hygiene risks, Red Stripe said.
The investment will also strengthen the local supply chain, creating direct and indirect economic opportunities, the company added.
“The launch of the CERS Project is a significant milestone for Red Stripe. It represents improvements in production and operational efficiency and our foray into a new age of greater sustainable manufacturing,” asserted Red Stripe Managing Director Luis Prata.
Prata continued, “When we began the CERS journey in 2019, we knew the final results would be ground-breaking for Jamaica’s manufacturing sector. We have proven that a Jamaican company can achieve world-class efficiency and growth by further modernising our operations. We are proud of Red Stripe’s legacy of excellence and have proven that by doubling down on our investment in Jamaica.”
As a proponent of environmental sustainability, Red Stripe said it is proud of the solutions that the project’s scope will bring.
“We
...More info on site
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UK: JD Wetherspoon could stop serving Stella Artois and Budweiser it its pubs
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JD Wetherspoon could stop serving Stella Artois and Budweiser if the pub giant loses a legal dispute against beer supplier AB InBev, The Caterer reported on March 27.
AB InBev's UK subsidiary, Budweiser Brewing Group, was appointed as JD Wetherspoon's lead brewer under a 20-year contract sealed in November 2021.
The high court disagreement concerns which company was responsible for carrying out works to meet a contractual requirement for JD Wetherspoon to display a set number of AB InBev beers, such as Stella Artois and Budweiser, on its pub's T-bars.
While Wetherspoon made claims that both parties believed AB InBev was responsible, AB InBev has denied this.
The Times reported that the pub group is seeking a temporary injunction to prevent the "real and substantial threat" of AB InBev's termination of the contract, should the court rule in favour of the Belgian multinational brewer.
Court documents seen by the Times revealed that AB InBev had demanded price increases from Wetherspoon last year amid 40 year-high inflation alongside claims the company would have been eligible for damages of £9.9m is the contract had been terminated in late January.
A spokesperson for JD Wetherspoon said: "Wetherspoon is involved in a contractual dispute with AB InBev UK Limited (trading
...More info on site
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Barley News
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World: Barley crop 2023 forecast adjusted downward to 146.4 mln tonnes
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RMI Analytics’ latest report leaves the forecast for world barley crop 2022 unchanged at 151.7 mln tonnes while for 2023, the crop has been
...More info on site
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EU & UK: Barley crop forecast mostly unchanged for 2023
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In crop 2023, the EU27+UK barley production is mostly unchanged, down slightly to 59.37 mln tonnes, but still up 0.58 mln tonnes over crop
...More info on site
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Canada: No big shift in barley acres expected in 2023
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As spring planting approaches, Peter Watt of the Canadian Malting Barley Technical Centre (CMBTC) said there likely won’t be a big shift in barley acres that will be planted in 2023, Grainews reported on March 22.
“Producers have made their [planting] decisions for the most part. You might see people adjust their plans a little bit based on some of the fluctuations we are seeing in the market right now,” he said.
Agriculture and Agri-Food Canada (AAFC), in its March 2023 report, pegged the amount of barley to go into the ground this year at around 7.4 million acres. That would make for a 5.2 per cent increase over what was planted in 2022.
Of note, Statistics Canada is scheduled to issue its planted acre projections on April 26.
While malt barley prices are rather steady at this time, Watt pointed to the volatility in commodity futures, noting the recent sharp drop in canola prices and the upticks in wheat.
“Barley prices remain relatively firm in Western Canada. That would still encourage farmers to keep barley in their rotations,” Watt said.
Over the last month, malt barley prices have remained steady for the most part, according to Prairie Ag Hotwire. Old-crop in Saskatchewan continued to sit
...More info on site
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Whisky News
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World: Japan’s Kirin Brewery looking overseas to expand its Fuji whisky brand
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Kirin Brewery Co., a relatively new and unknown player in Japan’s whisky market, is looking overseas to make its mark, Asahi.com reported on March 28.
The company, known more as a beer-brewing giant, has set a target of increasing its whisky sales abroad to around 3.5 billion yen ($27 million) by 2030, more than seven times the figure in 2022.
Kirin Brewery’s own estimate shows it has only about a 2 to 3 percent share of the domestic whisky market, well behind Suntory Spirits Ltd. and Nikka Whisky Distilling Co.
“In Japan, Suntory and Nikka are the major companies in the whisky market, holding the No. 1 and No. 2 positions,” Hideki Horiguchi, president of Kirin Brewery, said at a March 13 news conference in announcing the whisky strategy. “It’s difficult to significantly increase our share.”
Kirin Brewery this year marks the 50th anniversary of its Fuji Gotenba distillery in Shizuoka Prefecture, which started producing whisky in 1973.
By comparison, Suntory began constructing its Yamazaki distillery in Osaka Prefecture in 1923. And Nikka was founded nearly 90 years ago.
According to Kirin Brewery, Japan’s export value of whisky has risen for 17 straight years to 2022.
Also last year, whisky was Japan’s most valuable alcohol export, surpassing
...More info on site
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