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E-Malt.com Newsletter 26b
June 29 - July 02, 2023
Quote of the Week
A pleasant aperitif, as well as a good chaser for a short quick whiskey, as well again for a fine supper drink, is beer.
M. F. K. Fisher
Currency Rates
Base Currency: US Dollar
on June 30, 2023 |
Base Currency: Canadian Dollar
on June 30, 2023 |
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1 USD = 0.9181 EUR
1 USD = 0.7920 GBP
1 USD = 1.3259 CAD
1 USD = 1.5109 AUD
1 USD = 144.5630 JPY
1 USD = 4.8526 BRL
1 USD = 86.8483 RUB
1 USD = 7.2457 CNY
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1 CAD = 0.7541 USD
1 CAD = 0.5972 GBP
1 CAD = 0.6924 EUR
1 CAD = 1.1394 AUD
1 CAD = 109.0180 JPY
1 CAD = 3.6595 BRL
1 CAD = 65.4944 RUB
1 CAD = 5.4642 CNY
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Currency Rates Chart
Equities of the Largest Breweries
USA: Constellation Brands first quarter revenue growth beats analysts’ expectations
...Click here
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Canada: Area planted to barley, wheat sees notable increase in 2023
...Click here
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USA, MO: Vine Street Brewing Co. to celebrate grand opening on June 30
...Click here
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USA, MI: Michigan’s largest hop grower looking for a buyer
...Click here
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USA, AR: Mad Rooster Beer Co. coming to Fayetteville this Saturday, July 1
...Click here
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USA, MI: Mothfire Brewing Co.’s newest brewery and taproom to open on July 13
...Click here
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Australia: Beneficial rains across key barley regions boost crop forecasts
...Click here
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UK: Craft beer scene falls on hard time after decade-long boom
...Click here
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Argentina: Barley crop forecast unchanged at 4.25 mln tonnes
...Click here
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Australia: USDA raises projection for Australia barley exports in 2023-24
...Click here
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Nigeria: Brewers facing profit cuts on excise duties, naira devaluation
...Click here
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UK & EU: UK barley export potential to remain a watchpoint over the next few weeks
...Click here
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France: Condition of most cereals declines despite recent showers
...Click here
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UK: UK drinkers now increasingly moderating in the summer, report finds
...Click here
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The Czech Republic: Czech brewer Budvar reports fall in 2022 net profit and exports
...Click here
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Graph of the Week
Table of the Week
Germany Hops Area 2020 - 2023s
Prices Evolution
Barley Prices
Theoretical Malt Prices
These Days in Business History
29 June
1200 - In China, sunglasses are invented
1881 - 1st international telephone conversation, Calais, ME-St. Stephen, NB
1979 - The Wall Street Journal boot Chrysler from the Dow Jones Industrial Average and replace it with IBM
2007 - Apple Inc. releases its first mobile phone, the iPhone
30 June
1893 - Harold/Joseph Laski is born, English economist/Labour leader
1896 - W. S. Hadaway patents electric stove
01 July
1875 - Universal Postal Union established
1916 - Coca-Cola brings current coke formula to the market
02 July
1889 - To regulate commercial trusts and monopolies, Congress passes the Sherman Antitrust Act, which outlaws any "combination or conspiracy in restraint of trade"
1921 - 1st million dollar gate ($1.7m) boxing match (Dempsey KOs Carpentier)
1957 - 1st submarine designed to fire guided missiles launched, Grayback
Agenda
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)
News Articles
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USA: Constellation Brands first quarter revenue growth beats analysts’ expectations
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Constellation Brands, Inc announced first quarter fiscal 2024 adjusted earnings of $2.91 per share, up from $2.66 per share a year ago and surpassing the Zacks Consensus Estimate of $2.83 per share.
The alcohol beverages maker’s revenue for the period rose to $2.51 billion from of $2.36 billion during the same quarter last year while also beating analyst expectations by 1.26%.
Constellation Brands has topped consensus revenue estimates three times over the last four quarters, according to Zacks Equity Research.
The company noted that its beer business achieved 11% year-over-year net sales growth and a mid-single-digit depletion increase, driven primarily by the continued momentum of the Modelo brand family
Beverages produced by Constellation Brands include Corona Extra, Modelo Especial, and Robert Mondavi wines.
The company’s quarterly financial results included a $123.5 million impairment charge related to its investment in Canopy Growth Corp.
Zacks’ current consensus earnings per share estimate is $3.39 on $2.84 billion in revenues for the coming quarter and $11.65 on $10.05 billion in revenues for the current fiscal year.
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Canada: Area planted to barley, wheat sees notable increase in 2023
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Area planted to wheat in Canada surged to its highest level in more than two decades, one of several crops to see an uptick
...More info on site
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USA, MO: Vine Street Brewing Co. to celebrate grand opening on June 30
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Vine Street Brewing Co., Kansas City’s newest brewery, determined to bring the joy of craft beer to diverse communities, announces June 30, 2023, as the official grand opening celebration. The 4,800-square-foot space at 2010 Vine St. houses a two-story taproom, brewhouse, and outdoor beer garden in the south end of the historic 18th & Vine Jazz District, Brewbound reported.
Vine Street Brewing intends to uplift community voices and create a vibrant and inclusive environment that celebrates the rich culture and heritage of Kansas City. The grand opening celebration kicks off at 3 p.m. with performances by a range of Kansas City-based musicians including Kadesh Flow, Eddie Moore, and DJ Skeme.
Beyond changing the local landscape, Vine Street Brewing Co. joins a larger movement in the craft brewing industry, contributing to the 1% of Black-owned breweries in the United States. Local founders Kemet Coleman, Elliott Ivory and Woodie Bonds, Jr. persevered to bring Vine Street Brewing Co. to life. “There’s glaring underrepresentation in the brewing industry,” said Elliott Ivory, co-owner of Vine Street Brewing Co. “Progress requires a collective effort. We’re grateful the KC scene comes with friends and supporters both within and outside of the industry.”
Vine Street Brewing Co. reimagined the south
...More info on site
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USA, MI: Michigan’s largest hop grower looking for a buyer
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Michigan’s largest grower and processor of hops and one of the largest operations outside of the Pacific Northwest is looking for a buyer, Crain’s Grand Rapids Business reported.
Based in Acme Township, about 10 miles east of Traverse City, MI Local Hops includes a 220-acre farm, 30,000-square-foot processing facility and 15,000-square-foot pelletizing and cold storage warehouse.
The company, which controls nearly half of the hops acreage in the state, produces nine varieties of hops and ships internationally, exporting to New Zealand, Canada, Japan, Taiwan, South Korea, Brazil and India.
Coming off its seventh harvest, MI Local Hops is currently in the process of seeking a buyer, President Mike Moran confirmed to Crain’s Grand Rapids Business. The company has been shopping the business to other hop farms in the state with the hopes of finding a buyer that will preserve the current growing and processing operation, and will list it widely starting next month, he said.
“There is some interest there but we are moving forward with listing outside of the state in July,” Moran said.
Bellaire-based Short’s Brewing Co. uses hops from MI Local in its seasonal Pure Michigan lineup, among others, according to CEO Scott Newman-Bale. He said MI Local
...More info on site
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USA, AR: Mad Rooster Beer Co. coming to Fayetteville this Saturday, July 1
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This Saturday will see the opening of the southernmost brewery in Northwest Arkansas, the Fayetteville Flyer reported on June 28.
Mad Rooster Beer Co. is located at 1107 S. West Ave. at the corner of 11th Street in South Fayetteville and is a partnership between brothers Eric and Jeremy Hahn, Brian Miller, Rob Sheverbush, and Eric Wolfe.
Jeremy Hahn is the head brewer. He currently owns and operates Excalibur Brewing Co. in Spring, Texas and plans to commute back-and-forth to keep both taprooms full of beer.
Eric Hahn is a former Marine who was deployed to Iraq in 2004. That’s where he met Miller, who is currently finishing up an extended career with the Corps and is in the process of moving to Northwest Arkansas.
“Our experience in Iraq is why our ties are so tight,” said Hahn.
Sheverbush is an engineer based in Joplin. He will remain in Missouri and serve in a more hands-off capacity. Wolfe is a longtime logistics executive in Northwest Arkansas who is actively involved in day-to-day operations.
Perhaps it was Hahn’s and Miller’s shared experience in the military that inspired the name of the brewery. “Rooster” by Alice in Chains was written by lead guitarist Jerry Cantrell as an ode
...More info on site
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USA, MI: Mothfire Brewing Co.’s newest brewery and taproom to open on July 13
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Beer lovers near Ann Arbor will soon be able to enjoy a summer night at Mothfire Brewing Co.’s newest location, MLive.com reported on June 29.
Mothfire’s new brewery and taproom is set to open Thursday, July 13, at 713 W. Ellsworth Road in Pittsfield Township. The company was formerly operating out of a building at 2290 S. Industrial Highway and was known as Pileated Brewing Co. before it was purchased in 2019.
Noah Kaplan and David Becker have been behind Mothfire’s operations since 2020 and said they have been working to “make Ann Arbor a better beer destination.” Mothfire prides itself on its partnership with Michigan farmers and brews options for IPAs, sour ales, pilsner and dark beers, they said.
“We couldn’t be more excited to bring the next stage of Mothfire to life,” Kaplan said in a statement. “We’re so grateful for the foundation we built at our Industrial Avenue location and believe that this next space will help us not only continue to brew and package the highest quality beer, but also build a place for locals and beer lovers from near and far to gather over food, drink, music, art and more.”
The new 6,000-square-foot-space will have seating for 40 people
...More info on site
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Australia: Beneficial rains across key barley regions boost crop forecasts
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Beneficial rains fell across key barley regions in Australia adding to an already good crop situation. In addition, dry areas in New South Wales
...More info on site
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UK: Craft beer scene falls on hard time after decade-long boom
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After a decade-long boom, the UK’s craft beer scene has fallen on hard time – with the number of insolvencies in the sector more
...More info on site
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Argentina: Barley crop forecast unchanged at 4.25 mln tonnes
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Over the past month moisture conditions have improved dramatically in Argentina but the rain has cleared the past two weeks. This situation has allowed
...More info on site
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Australia: USDA raises projection for Australia barley exports in 2023-24
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The US Department of Agriculture's Foreign Agricultural Services (USDA FAS) has revised down its projection for Australian 2023-24 wheat exports, while raising slightly its
...More info on site
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Nigeria: Brewers facing profit cuts on excise duties, naira devaluation
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Nigerian brewers are facing a double whammy of excise duties and naira devaluation, which is leading to profit cuts, BusinessDay’s analysis and experts have
...More info on site
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UK & EU: UK barley export potential to remain a watchpoint over the next few weeks
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While EU wheat stocks are expected to remain relatively high next season, the outlook for barley looks to be tightening. With the EU barley
...More info on site
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France: Condition of most cereals declines despite recent showers
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The condition of most cereals in France declined for a fifth straight week despite showers that interrupted a hot and dry spell, but remained
...More info on site
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UK: UK drinkers now increasingly moderating in the summer, report finds
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UK drinkers are now moderating in the summer at similar numbers to Dry January, according to a new industry report produced by research consultancy KAM, in partnership with alcohol-free beer brand Lucky Saint.
The new report, 2023 Low and No: The Customer Perspective, launched on June 29, looking at changing drinking habits across the UK, with the clearest indication yet that moderation has gone mainstream in the UK.
Moderation of alcohol is now a year-round habit for UK adults, the report finds. This year, for the first time, there will be as many UK adults moderating this summer as there are during January, famous as the month of the year where millions of drinkers in the UK cut down their alcohol consumption. Some 6.2 million adults will be actively moderating their alcohol consumption this summer.
The report also shows that as people turn towards alcohol-free options, with more than one in three pub and restaurant visits alcohol free, availability of quality alcohol-free options is more important than ever. Some 3.7m Brits ruled out a specific venue in the last three months alone due to poor alcohol-free options, totalling a missed opportunity of £590.4m in revenue across a year for hospitality venues.
A significant fall
...More info on site
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The Czech Republic: Czech brewer Budvar reports fall in 2022 net profit and exports
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The Czech brewer Budvar, which has been embroiled in a long legal dispute with U.S. beer giant Anheuser-Busch over the use of the Budweiser brand, said on June 29 that it has registered a fall in its 2022 net profit and exports, The Washington Post reported.
The company said it’s due to Russia’s war in Ukraine and high inflation driven by soaring energy prices.
Budejovicky Budvar NP, a 127-year-old state-owned brewery, said its net profit in 2022 reached almost 201 million Czech crowns ($9.3 million) — more than 40% down from the previous year.
Exports were down by 4%, said the company, which sells its beer in some 70 countries. Budvar halted exports to Russia and Belarus following Russia’s full-scale invasion of Ukraine, which started in February last year.
Exports to some other markets, such as Britain, Slovakia, Austria, Italy Spain or Canada, went up, it said. Budvar also registered a fall in its output by 1.2%, to 1.78 million hectolitres (47 million gallons).
Budvar and Anheuser-Busch have been in a trademark dispute over the Budweiser brand since 1906. Anheuser-Busch joined AB InBev in 2008.
Budvar holds exclusive rights to sell Budweiser beer on most major European markets, including Germany. But in the United Kingdom, both
...More info on site
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World: New Carlsberg CEO to start on September 1st
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Earlier this year, Carlsberg Group announced that Jacob Aarup-Andersen will join Carlsberg Group as the new Chief Executive Officer, replacing Cees ‘t Hart, who will retire after eight successful years at Carlsberg.
Jacob Aarup-Andersen joins Carlsberg from ISS A/S, where he has served as CEO since 2020.
ISS has now concluded the search for the replacement and announced the new CEO. Therefore, the company has confirmed that Jacob Aarup-Andersen will join Carlsberg as of 1 September.
Cees ‘t Hart will stay with Carlsberg for the presentation of the H1 2023 financial results and will leave the company at the end of August.
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