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E-Malt.com NewsLetter
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RombBullet Quote of the week
RombBullet Currency rates
RombBullet Brewers equities
RombBullet Industry news
RombBullet Graph of the week
RombBullet Table of the week
RombBullet Prices evolution
RombBullet Barley prices
RombBullet Theoretical malt prices
RombBullet Business history
RombBullet Agenda
RombBullet News articles






Last five graphs

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E-Malt.com Newsletter 23a
June 05 - June 07, 2023


Quote of the Week

Quaintest thoughts, queerest fancies come to life and fade away. What care I how time advances; I am drinking ale today.
Edgar Allan Poe

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Currency Rates


Base Currency: US Dollar
on June 07, 2023
Base Currency: Canadian Dollar
on June 07, 2023
      1 USD = 0.9345 EUR
1 USD = 0.8047 GBP
1 USD = 1.3417 CAD
1 USD = 1.5022 AUD
1 USD = 139.5480 JPY
1 USD = 4.9206 BRL
1 USD = 81.1602 RUB
1 USD = 7.1149 CNY
      1 CAD = 0.7452 USD
1 CAD = 0.5997 GBP
1 CAD = 0.6965 EUR
1 CAD = 1.1195 AUD
1 CAD = 103.9960 JPY
1 CAD = 3.6670 BRL
1 CAD = 60.4834 RUB
1 CAD = 5.3023 CNY

Currency Rates Chart


Equities of the Largest Breweries

Equities of the Largest Breweries

North America News
Brewery news USA: Sales of Modelo Especial officially surpass Bud Light’s ...Click here
Barley news North America: Canada on pace to repeat barley crop of 10 mln tonnes this year ...Click here
Brewery news USA, VA: Silver Branch Brewing Company slated to open this fall in former Warthog Brewery location in Warrenton ...Click here
Barley news Spain: Significant grain imports expected as Spain enters second consecutive year of poor crops ...Click here
Brewery news USA, NJ & MD: Baltimore’s DuClaw Brewing acquired by New Jersey brewery River Horse ...Click here
Brewery news USA, KS: Aggieville Brewing Company coming to Manhattan with two locations later this year ...Click here
Brewery news USA, GA: Scofflaw Brewing Company opens its doors in Columbus ...Click here
Brewery news USA, TN: New brewery in the works for Loudon ...Click here
Brewery news USA, MO: Friendship Brewing Co.’s newest location soft-opens in Flint Hill ...Click here
Brewery news USA, MI: Full Circle Brews coming to Brighton later this month ...Click here
Brewery news USA, FL: Jekyll Brewing debuts in Jacksonville Beach ...Click here
Brewery news USA, IA: Fox Brewing to close its doors, new owners to rebrand brewery ...Click here
Brewery news USA, SC: Greenville’s Brewery 85 announces closure ...Click here
Brewery news USA, GA: Burnt Hickory Brewing closes its doors after more than 10 years in business ...Click here
World News
Malt news Tanzania: Tanzania Breweries announces investment in new malting plant in Moshi ...Click here
Barley news EU & UK: Barley crop forecast reduced on ongoing drought problems in Spain ...Click here
Barley news Australia: Winter crop production forecast to fall from record highs with barley down 30% in 2023-24 ...Click here
Brewery news World: Diageo CEO Ivan Menezes dies after brief illness ...Click here
Malt news UK: Carlsberg Marston’s Brewing Company proposing to sell Ringwood Brewery in Hampshire ...Click here
Brewery news UK: Number of breweries going out of business triples in past year ...Click here
Brewery news Ireland: Alcohol-free Guinness to become available on draught in pubs this summer ...Click here
Barley news Turkey: Grains board increases intervention prices for barley and wheat ...Click here
Graph of the Week


Table of the Week

Spain Beer Production 2018 - 2022


Table of the week.

Prices Evolution

Prices evolution

Barley Prices



Theoretical Malt Prices



These Days in Business History


05 June
1507 - England and Netherlands sign trade agreement
1933 - Gold standard abolished
1933 - The U.S. Congress abrogates the United States' use of the gold standard by enacting a joint resolution (48 Stat. 112) nullifying the right of creditors to demand payment in gold
1947 - Marshall Plan: In a speech at Harvard University, the United States Secretary of State George Marshall calls for economic aid to war-torn Europe
1977 - Apple II, the 1st personal computer, goes on sale

06 June
1875 - Netherlands goes on the gold standard
1882 - Electric iron patented by Henry W Seely, New York City
1925 - Walter P. Chrysler founds the Chrysler Corp. as successor corporation to the failing Maxwell Motor Car Co.

07 June
1775 - United Colonies change name to United States
1887 - Monotype type-casting machine patented by Tolbert Lanston
1965 - Sony Corp introduced its home video tape recorder
1990 - Universal Studios Florida opens in Orlando, FL


Agenda

June 2023:
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:
01 - 05: Great British Beer Festival 2023 (London, UK)
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:
04 - 06: 13th Iberoamerican VLB Symposium Brewing & Filling Technology (IBS) (Bogota, Colombia)
16 - 03 October: Oktoberfest 2023 (Munich, Germany)

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:
01 - 02: Glug Swiss 2024 (Alte Reithalle, Aarau, Switzerland)
09 - 12: HoReCa 2024 (Athens, Greece)
18 - 21: Beer & Food Attraction 2024 (Rimini, Italy)
23 - 25: Finest Spirits 2024 (Munich, Germany)

More events are available on site e-malt.com

News Articles


Brewery news USA: Sales of Modelo Especial officially surpass Bud Light’s
Off-premise sales of Modelo Especial surpassed Bud Light last month, according to Newsweek. The Mexican beer brand, distributed in the U.S. by Constellation Brands, hit $333 million in retail sales to secure the top-selling spot in the beer category, VinePair reported on June 7.

Bud Light had long occupied the No. 1 position for U.S. beer sales. But following a boycott by conservative drinkers beginning in early April, the Anheuser-Busch brand saw continuing (and significant) drops in retail sales. The company began buying back unsold cases in late May after distributors reported transphobic attacks on employees selling and transporting the beer.

Newsweek’s reporting is based on Circana/IRI sales data from the past month, which were obtained through Constellation. In May, Modelo Especial recorded a 15.6 percent increase in sales year-over-year. Bud Light hit $247 million that same month, reflecting a 22.8 percent decrease from 2022. Separate data from industry-focused Bumps Williams Consulting records May sales for Modelo Especial at $341.9 million in sales and Bud Light at $298.6 million.

Constellation CEO Bill Newlands told Newsweek that the change happened more quickly than leadership expected.

“We thought that would take a little longer,” he said. “We’ve been very fortunate that it’s gone a little quicker ...More info on site


Barley newsNorth America: Canada on pace to repeat barley crop of 10 mln tonnes this year
The last 30 days provided relief to soil moisture conditions in Canada while also helping to subside the serious wildfires across northern Alberta, RMI ...More info on site


Brewery news USA, VA: Silver Branch Brewing Company slated to open this fall in former Warthog Brewery location in Warrenton
A new brewery and restaurant are slated to open this fall in the Old Town Warrenton building formerly home to the now-shuttered Warthog Brewery, the Fauquier Times reported on June 5.

Silver Branch Brewing Company, based in Silver Spring, Maryland, will open a second location in the old Wart Hog building in time for “an epic Oktoberfest in late September,” according to Silver Branch spokesman Chris Bonnell.

Silver Branch Brewing Company has been in business in Maryland since 2017. It sells its craft beers in area grocery stores as well as Nationals Park. The brewery will invest $3 million to expand into Warrenton, according to an announcement from Gov. Glenn Youngkin.

Its new Warrenton location is expected to create 38 new jobs, the governor’s office said in a news release.

The new brewery and restaurant, dubbed “Silver Branch Brewing Company’s Warrenton Station,” will feature a full menu and bar in addition to the company’s internationally-styled craft beer selection, Bonnell said in an email.

“The primary purpose of our expansion was to brew a wider variety of beer, so naturally this location is where we'll brew some of the lagers we've been dreaming about (as well as ales) but couldn't fit into the (brewing) schedule,” Bonnell ...More info on site


Barley news Spain: Significant grain imports expected as Spain enters second consecutive year of poor crops
Facing a second consecutive year of poor grain crops, Spain will import a significant amount of grain to meet domestic demand, pushing its supply chain from port to end user, according to a Global Agricultural Information Network report from the Foreign Agricultural Service (FAS) of the US Department of Agriculture.

Spain is the European Union’s grain imports leader, accounting on average for 70% of the 27-member bloc’s annual number. The anticipated reduced in-country grain availability, even with lower demand, will lead to a greater grain shortfall and increased import needs, FAS Post Madrid said. Early estimates indicate that Spain’s grain imports in marketing year 2023-24 are set to break 20 million tonnes.

“Despite the somewhat sluggish overall grains demand, a large amount of grain imports will be necessary to meet Spain’s consumption needs,” the FAS said. “Ports are expected to operate at high capacity, and unloading, in-land transport and grain storage logistics will be particularly key to allow grains to flow toward consumption areas.”

According to the latest official statistical release by the Spanish Ministry of Agriculture, Fisheries and Food (MAPA), winter grains area is expected to amount to 5.2 million hectares. Year-to-date rainfall, the lowest on record across most of Spain’s main ...More info on site


Brewery news USA, NJ & MD: Baltimore’s DuClaw Brewing acquired by New Jersey brewery River Horse
Baltimore-based DuClaw Brewing has been acquired by New Jersey brewery River Horse, the company said on June 1.

River Horse, based in Ewing, will expand its brewery's capacity to accommodate DuClaw's national distribution, the company said in a Facebook announcement.

The company said founder Dave Benfield "is thrilled to transition the production responsibilities to the team in Ewing, NJ so he can give 100% of his attention to the part of the business that he truly loves, products, strategy and sales," the company said.

Each brand would be managed separately, the company said, but they would share production capacity and certain distribution partnerships.

"The operations side of brewing is challenging, and at the end of the day I was spending too much of my time and energy chasing the latest mechanical, supply or logistical issue, and was taken away from driving the brand the way I wanted," Benfield said in a statement.

It wasn't immediately clear what the jobs impact would be from moving the beer's production out of the state. River Horse said it is currently seeking new team members for brewing, packaging or cellaring.

The company seems to expect a seamless transition, telling customers: "Don't expect to see too ...More info on site


Brewery news USA, KS: Aggieville Brewing Company coming to Manhattan with two locations later this year
A new restaurant and craft brewery is coming to Manhattan and is set to open one of its two locations later this year, the News Radio KMAN reported on June 1.

Owned by Manhattan natives Ryan and Amber Emley, the Aggieville Brewing Company will service two locations at 612 Pillsbury Drive and 1123 Moro Street.

According to a release on June 1, the Pillsbury location will house a brewing production facility and taproom, in addition to a dine-in restaurant. Food selection will feature a “mix of traditional BBQ and new age pub fare”.

Additionally, the Pillsbury location will have an outdoor beer garden with various entertainment for all ages. The Moro location will feature a taproom, full bar, and a simpler food menu.

Both locations will offer “an inviting, approachable, and updated atmosphere where friends and family can gather”.

The Pillsbury location is scheduled to open this fall with the opening of the Moro location yet to be determined.


Brewery news USA, GA: Scofflaw Brewing Company opens its doors in Columbus
The wait is finally over for one of the newest additions to Midcity yards in Columbus, WTVM reported on June 4.

Right across from Moe’s original barbecue and behind fetch park, the doors are open at the Scofflaw Brewing Company.

“I don’t think I’ve ever heard people say to me in one night, that this is what Columbus needed,” says general manager Meg Warren.

Meg warren says it’s reassuring to hear the excitement from Scofflaw visitors.

“We can’t wait for everyone to know about us, and to host parties here,” says Warren.

Scofflaw isn’t new to Tesa Dee Young and her family. They often visit the various ones in Atlanta, so they’re glad Scofflaw is now in the fountain city.

“We’re super excited. It’s such a great space, and we love how they have all these games and stuff for kids. It’s like our fourth time coming since their soft opening,” says Young.

The indoor and outdoor space is about 9,000 square feet, including a brewing facility, tasting room, and a menu that includes more than 40 taps.

Warren says the idea is to create a great vibe.

“We have ping pong, cornhole, and music, so people can come to the picnic table, and try a flight of beers ...More info on site


Brewery news USA, TN: New brewery in the works for Loudon
A new brewery and taproom is in the works for a stretch of Highway 15 south of Leesburg and Highway 50 in Loudon. The final name hasn’t been announced yet, but it’s currently called Carolina Road Brewing, The Burn reported on June 5.

The spot is at 24205 James Monroe Highway (Highway 15) in Aldie. That’s a little north of Pev’s Paintball for readers familiar with the area.

It’s got its temporary name because the property also runs adjacent to a small country biway called Old Carolina Road.

Plans call for what’s described as a “Limited Farm Brewery.” This includes a timber frame, 6,800 s.f. brewing facility along with a taproom for the general public. We’re told it will be indoor/outdoor and family- and dog-friendly.

The specific beers that will be brewed are TBD, but we’re told there will be a large selection, along with a menu featuring a dozen or more finger food options.

Some site work has already been done, and work on the brewing facility should get underway as soon as this week. The structure should start to go up late this summer — and if all stays on track — they are hoping to open sometime in the first quarter of 2024.


Brewery news USA, MO: Friendship Brewing Co.’s newest location soft-opens in Flint Hill
Friendship Brewing Co.’s newest location, called Friendship Fli-Hi as an homage to surrounding neighborhood Flint Hill, celebrated its soft opening on Friday, June 2, with a grand opening party slated for mid-summer. The two-story, 10,000-square-foot facility at 400 Crossroads Business Park Court is just three miles away from the Friendship location in Wentzville, which opened seven years ago. Another Friendship location is opening in Hannibal this summer, the Sauce Magazine reported.

“At our original location, we ran out of brewing space within our first year,” said founder Brian Nolan, who owns the brewery with his business partner David Brewer. “We identified the new building three years ago as the place to get a much larger footprint in the marketplace. We’ve been brewing here several months and have quadrupled our brewing capacity.”

The bar has 40 taps, all with Friendship beers, plus a few draft cocktails that are in the works. “I won’t say we never do guest taps, but it’s pretty rare,” Nolan said.

With the new space, Friendship is also launching a distillery called Godspeed Distilling Co., helmed by Michael Snell. The team is waiting on federal licensing to begin distilling, but whiskey, bourbon, gin, vodka, rum and moonshine will be produced ...More info on site


Brewery news USA, MI: Full Circle Brews coming to Brighton later this month
On June 15, Nick and Colleen Miller will come "full circle" when they return to the industry they swore they'd never work in again, this time as owners, the Livingston Daily reported on June 4.

Full Circle Brews will open at 709 W. Grand River Ave. in Brighton later this month. The nanobrewery will have 10 taps with original brews, six of which will rotate based on the season.

“We met in the restaurant industry, we met in college and swore we would never go back (to restaurants)," Nick told The Daily. "That's why this place is called Full Circle Brews. I started to homebrew toward the beginning of COVID and I enjoyed making the beer and everybody seemed to like it, so we started to consider what a brewery would be.”

The couple started the process of opening the brewery last fall, but experienced delays in getting their permits. The space on Grand River is open concept, with plenty of seating and a view of the brewing system Nick designed and built himself.

The business has board games, cornhole on the patio and a Pacman arcade game. The family of four, with children Allison and Hannah, has spent plenty of time in breweries ...More info on site


Brewery news USA, FL: Jekyll Brewing debuts in Jacksonville Beach
Debuting in Jacksonville Beach, a Metro Atlanta-based restaurant and microbrewery is serving up 24 craft beers on tap along with a menu featuring a Bison-Waygu beef burger and innovative Low Country fare, the Florida Times-Union reported on June 5.

Jekyll Brewing also features a renovated Airstream travel trailer as the centerpiece of its second-floor bar.

Just two blocks from the ocean, the brewpub joins Jax Beach Town Center, 131 1st Ave. N., next door to Oaxaca Club, a "first-of-its-kind" Mexican restaurant featuring inspired Latin-influenced cuisine that opened in March.

It is the first in Florida from the Alpharetta, Ga.-based brewpub. But a second location is planned for Gainesville, Michael Lundmark, Jekyll Brewing founder and CEO previously told the Times-Union.

“Jekyll Brewing is so much more than a brewery. We are a brewery, a distillery, a winery, a coffee roaster and an executive chef-run kitchen,” Lundmark said of the growing restaurant chain that already has three locations in Georgia.

Lundmark also noted the brand “pays homage to the first brewery of the Deep South built on Jekyll Island in the 1730s” about 73 miles north of Jacksonville.

“Our food is focused around Low Country fare, but don’t sleep on our high-end smash burger, ...More info on site


Brewery news USA, IA: Fox Brewing to close its doors, new owners to rebrand brewery
Fox Brewing in Valley Junction closes its doors soon, and new owners take over the West Des Moines brewery with new branding, The Des Moines Register reported on June 2.

Owner Brian Fox told customers on Facebook that the brewery closes after it runs out of beer. He said the brewery will be open regular hours through Sunday, and then at 4 p.m. Monday onward until the beer is gone. Fans can check social media to ensure the bar is open.

Fox also suggested that people can buy pint glasses, stickers and enamel pins.

“I feel lucky to have had Fox Brewing be a small part of the Valley Junction neighborhood, which I love so much,” Fox wrote on Facebook. “I'm proud that Fox Brewing was able to give to so many local charities and provide free space for any politician or candidate for any level of office to meet the people of Valley Junction and hear what is important to us.”

Fox Brewing, which opened in September 2015, created premium beers such as the Foxy Blonde Belgian Ale and Fox Tail Irish Red Ale, as well as seasonal and single-batch beers.

Fox worked at Court Avenue Brewing in Des Moines and created his own ...More info on site


Brewery news USA, SC: Greenville’s Brewery 85 announces closure
After a decade in business, a popular Greenville brewery announced this will be its final week of operation, GSA Business reported on June 2.

Brewery 85, 6 Whitlee Court, posted the announcement on social media:

“We’ve had a lot of fun and shared some amazing times with y’all over the past decade. We are so lucky to have experienced the journey of Brewery 85 with Greenville. We made some amazing beer, met some great people, and had a lot of fun. Thank you to everyone that made our dream possible. This will be the last week to come visit our brewery and taproom.”

SC Biz News reached Brewery 85 for comment and was told the company is not ready to comment on the sale of the brewery and closing at this time, but owners are “good and happy” with the decision.

According its website, Will McCameron is Brewery 85’s CEO, co-founder, brewmaster and co-owner.

After graduating from Clemson University in 2008 with a degree in travel and tourism, McCameron took the NICET and became an engineer for a time, according to the website. Seeking a change of pace, McCameron worked at Thomas Creek Brewery in Greenville and then realized that he wanted to operate another ...More info on site


Brewery news USA, GA: Burnt Hickory Brewing closes its doors after more than 10 years in business
A Kennesaw craft beer brewery has closed its doors after more than 10 years of operating, though the owners say it’s not permanent, WSB-TV reported on June 2.

Burnt Hickory Brewing first opened in 2012.

In a series of messages on social media, the brewery said they would be pausing all operations and closed their Moon Station Court location indefinitely on Wednesday, May 31.

The company said that the choice was “not an easy” one to make and that they were grateful for the support of their community and customers, but the “craft beer industry has changed and grown drastically.”

As a result, Burnt Hickory said they have to grow along with it, and focus on their community and taproom.

With the taproom closed, and operations on hiatus, Burnt Hickory Brewing said they were looking for a new location “that provides our customers with a top-tier space to enjoy” their beer offerings.


Malt newsTanzania: Tanzania Breweries announces investment in new malting plant in Moshi
Tanzania Breweries Limited (TBL) has announced a Sh96 billion (USD40 mln) investment in its flagship Kilimanjaro Malting Plant that is being built in Moshi, ...More info on site


Barley newsEU & UK: Barley crop forecast reduced on ongoing drought problems in Spain
Barley production forecast for 2023/23 has been reduced due to the ongoing problems in Spain, RMI Analytics said in their latest report.

The severe drought ...More info on site


Barley newsAustralia: Winter crop production forecast to fall from record highs with barley down 30% in 2023-24
Australian winter crop production is set to fall from record highs, according to the country's agricultural department, as forecasters predict drier weather after three ...More info on site


Brewery news World: Diageo CEO Ivan Menezes dies after brief illness
Diageo said on June 7 that long-time boss Ivan Menezes, who held the CEO role at the world's biggest spirits company for 10 years, had died after a brief illness.

The 63-year-old, who was set to retire at the end of this month, was in hospital receiving treatment for conditions including a stomach ulcer, the Guinness and Johnnie Walker whisky maker announced this week.

His recovery had suffered a significant setback due to complications, which followed emergency surgery on the ulcer, Diageo had said.

The company added that CEO-designate Debra Crew would assume the top role on an interim basis immediately as a result.

British-American national Menezes, born in the Indian city of Pune, joined Diageo after its formation through the merger of Guinness and Grand Metropolitan in 1997.

The executive, who was behind the "Keep Walking" campaign for Johnnie Walker when he was marketing head, previously held roles at Whirlpool and Nestle.

"This is an incredibly sad day. Ivan was undoubtedly one of the finest leaders of his generation," said Diageo chairman Javier Ferrán.

"The desire to build the world's best brands never left him."

Diageo, which also makes Tanqueray gin and Don Julio tequila, has seen sales surge under Menezes' leadership, and he steered the company ...More info on site


Malt newsUK: Carlsberg Marston’s Brewing Company proposing to sell Ringwood Brewery in Hampshire
Carlsberg Marston’s Brewing Company (CMBC) has revealed it is proposing to sell Ringwood Brewery in Hampshire citing the venue’s location being in a residential ...More info on site


Brewery newsUK: Number of breweries going out of business triples in past year
The number of UK breweries going out of business has tripled in the past year, with smaller craft beer manufacturers most at risk as ...More info on site


Brewery news Ireland: Alcohol-free Guinness to become available on draught in pubs this summer
Diageo is set to make pints of alcohol-free Guinness available on draught in pubs across Ireland this summer, The Drinks Business reported on June 5.

Guinness 0.0, which is set to become available to buy on draught from mid-July, has only been sold in cans in Irish bars up until this point.

Now, publicans have reportedly been told that Guinness 0.0 will be available on draught within a few months, making the stout serve cooler than in its current format.

According to reports, Diageo has been urging pubs to take the 0.0 brand on draught and its teams of are now working to install separate pipes for the 00 brand into venues that want to stock it.

One County Louth publican who is planning to have the 0.0 draught version installed, told reporters: “The drink is very popular with designated drivers who feel they can still have good craic drinking a zero zero and it almost tastes as nice as the real thing. The drink has become a big hit in a very short space of time and now Guinness wants to roll it out everywhere. The reaction to it from the punters is very positive and the 00 obviously has a huge future ...More info on site


Barley news Turkey: Grains board increases intervention prices for barley and wheat
The Turkish grains board (TMO) has published new domestic intervention prices for the purchase of wheat and barley on June 6, revealing another substantial hike of 28% and 23% respectively, trade sources have told Agricensus.

The announcement had been expected and usually comes in late May or early June to coincide with the start of the new marketing year.

Turkish authorities have set the wheat intervention price at TRY8,250/mt, up from TRY6,450/mt, and barley at TRY7,000/mt, up from TRY5,000/mt.

On top of that, there would be a TRY1,000/mt premium for anyone selling wheat in the first three months of the marketing year, and a TRY500/mt premium for barley.

Collectively, it equated to $430/mt for wheat and $348.50/mt for barley, according to current currency conversions.

The moves are likely to reflect the continuing slide of the domestic currency on international markets, with the lira again taking a battering after the re-election of president Recep Tayyip Erdogan to plumb new depths against the US dollar.

Currently, one US dollar buys around TRY21.5, up from TRY16.6 at the same point of last year.

However, the increase and the relatively low prices of global wheat could fuel interest in selling into the domestic market and buying on the international market.

“Obviously, the ...More info on site


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