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E-Malt.com Newsletter 30b
July 27 - July 30, 2023
Quote of the Week
You were born to win, but to be a winner, you must plan to win, prepare to win, and expect to win.
Zig Ziglar
Currency Rates
Base Currency: US Dollar
on July 28, 2023 |
Base Currency: Canadian Dollar
on July 28, 2023 |
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1 USD = 0.9045 EUR
1 USD = 0.7815 GBP
1 USD = 1.3192 CAD
1 USD = 1.4784 AUD
1 USD = 139.9900 JPY
1 USD = 4.7334 BRL
1 USD = 90.2820 RUB
1 USD = 7.1539 CNY
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1 CAD = 0.7579 USD
1 CAD = 0.5876 GBP
1 CAD = 0.6856 EUR
1 CAD = 1.1205 AUD
1 CAD = 106.0990 JPY
1 CAD = 3.5875 BRL
1 CAD = 68.4247 RUB
1 CAD = 5.4220 CNY
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Currency Rates Chart
Equities of the Largest Breweries
North America: Canada barley production forecast reduced due to increasing dryness
...Click here
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USA: AB InBev to lay off hundreds of staff as sales slump
...Click here
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USA: Boston Beer reports decrease in shipments, net income in Q2 2023
...Click here
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Canada: Feed barley, wheat prices still on the rise just weeks away from harvest
...Click here
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USA, ID: Bert’s Brewing Company under construction in Garden City
...Click here
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USA, VA: Coyote Hole Craft Beverages to launch Mineral Brewing in Mineral, VA by mid-September
...Click here
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Canada, BC: Andina Brewing Company confirms permanent closure
...Click here
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India: United Breweries reports 15.8% fall in June quarter profit
...Click here
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Vietnam: Sabeco sees profits plunge 32% yoy due to rise in marketing expenses
...Click here
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Nigeria: Guinness Nigeria Plc incurs whopping N49 billion in exchange rate losses in financial year to June 2023
...Click here
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UK: Barley area estimated to increase by 5% this year
...Click here
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Nigeria: Nigerian youths increasingly turning from beer to whisky and spirits
...Click here
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Kenya & Tanzania & Uganda: East African Breweries Limited’s annual net profit declines 21%
...Click here
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France: Crop conditions stable to slightly worse as of July 24
...Click here
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Graph of the Week
Table of the Week
USA Hop Acreage 2020-2023s
Prices Evolution
Barley Prices
Theoretical Malt Prices
These Days in Business History
27 July
1694 - The Bank of England opens for business in London to print currency and manage the national debt. It goes on to become one of the world's most effective central banks
1866 - Atlantic telegraph cable successfully laid (1,686 miles long)
1971 - Merrill Lynch & Co. goes public, becoming the first New York Stock Exchange firm to do its own initial public offering on the NYSE
28 July
1866 - Metric system becomes a legal measurement system in US
1900 - Hamburger created by Louis Lassing in Connecticut
1978 - Price of gold tops $200-an-oz level for 1st time
29 July
1914 - 1st transcontinental phone link made between New York City & San Francisco
1952 - 1st nonstop transpacific flight by a jet
1956 - Jacques Cousteau's Calypso anchors in 7,500 m of water (record)
30 July
1863 - Henry Ford, car manufacturer was born
1897 - German chemist named Felix Hoffman synthesizes a stable form of acetylsalicylic acid in a laboratory in Berlin. The head of Bayer's pharmacological institute, Heinrich Dreser, soon names the product "aspirin," and it becomes the best-selling drug of all time
1928 - George Eastman demonstrates 1st color movie
1962 - The Trans-Canada Highway, the largest national highway in the world, is officially opened
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)
11 - 15: Mondial de la Biere Rio 2023 (Rio de Janeiro, Brazil)
19 - 20: Brew Asia 2023 (Ho Chi Minh City, Vietnam)
19 - 21: Warsaw Beer Festival 2023 (Warsaw, Poland)
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)
March 2024:
22 - 24: St Malo Craft Beer Expo 2024 (St Malo, France)
April 2024:
11 - 13: KIBEX 2024 (Seoul, South Korea)
21 - 24: Craft Brewers Conference & BrewExpo America 2024 (Las Vegas, USA)
May 2024:
20 - 26: Budapest Beer Week 2024 (Budapest, Hungary)
23 - 26: Mondial de la Biere 2024 (Montreal, Canada)
26 - 30: The Brewers of Europe Forum 2024 (Lille, France)
News Articles
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North America: Canada barley production forecast reduced due to increasing dryness
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North America’s barley crop 2023 has undergone a wide range of weather impacts after a prolonged period of dryness and partially benefitting from mixed
...More info on site
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USA: AB InBev to lay off hundreds of staff as sales slump
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Anheuser-Busch InBev, whose Bud Light sales have recently slumped in the United States, will lay off hundreds of corporate staff in the country, CNN reported on July 26 citing a company statement.
The job cuts would represent less than 2 per cent of total employees at the world's largest brewer, but would not include frontline staff like brewery and warehouse staff, drivers, field sales among others, CNN reported.
Anheuser-Busch did not immediately respond to a Reuters request for comment. Bud Light and Budweiser have recently seen its sales drop in the US after a backlash from conservatives over a social media promotion with transgender influencer Dylan Mulvaney and has been dethroned by Constellation Brands' Modelo Especial as the top-selling beer brand in the country.
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USA: Boston Beer reports decrease in shipments, net income in Q2 2023
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The Boston Beer Company, Inc. reported on July 27 its financial results for its second quarter that ended July 1, 2023. Key results were:
Second Quarter 2023 Summary:
• Depletions decreased 3%
• Shipments decreased 4.5%
• Net revenue decreased 2.1% to $603.3 million
• Gross margin increased 230 basis points to 45.4%
• Net income increased 8.8% to $58.0 million
• Diluted income per share increased 9.5% to $4.72
Capital Structure:
• Generated $119.0 million in operating cash flow in the second quarter
• Ended the second quarter with $207.8 million in cash and no debt
• Repurchased $52.5 million in shares from January 3, 2023 to July 21, 2023
"We saw improvement in our financial performance and our volume benefited from the timing of the July 4th holiday in the second quarter, as we continue to execute our operational plans. We are proud to have just been named the number one beer industry supplier in the Tamarron Survey, the annual poll of beer distributors conducted by Tamarron Consulting, for the sixth year in a row," said Chairman and Founder Jim Koch. "Our highly cash-generative business and strong balance sheet will not only fuel our 2023 brand investments, but have also enabled us to repurchase over $50 million in shares year-to-date."
"As we expected, our second quarter performance reflected strong growth
...More info on site
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Canada: Feed barley, wheat prices still on the rise just weeks away from harvest
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Variable crop conditions in Alberta and Saskatchewan are contributing to rising feed grain prices on the Prairies just weeks away from harvest, Grainews reported on July 27.
Erin Harakal, trade manager for Agfinity Inc. in Stony Plain, Alta., said while conditions in the northern half of Alberta are good in some places, areas around Red Deer and parts of Saskatchewan are quite dry.
“It’s been all over the map for what we’ve been hearing for crop conditions right now,” she added.
Demand for feed grains is currently on the “quieter side”, according to Harakal, as feedlots order more United States corn, which is priced at C$270 to C$275 per tonne (C$6.85 to C$6.99/bu.). Other feedlots are content with waiting until harvest to buy more grain.
“It seems like we have a little bit more demand for fall, September and October (grain),” she explained. “But there are still a few feedlots that need a couple (of shipments) here and there. Prices for feed barley have gone up (this week), so we’ve seen prices go up a little bit.”
The high-delivered bid for feed barley in Alberta was C$9.38 per bushel on July 26, up 13 cents from a month ago, according
...More info on site
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USA, ID: Bert’s Brewing Company under construction in Garden City
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A new brewery is under construction in Garden City with plans to open this fall, Boise Dev reported on July 26.
Bert’s Brewing Company is a production and tasting room located at 3577 N. Brown St. about 2 blocks west of Western Collective.
The brewery will offer an array of beer styles and alcoholic beverages including lagers, ales, porters, sours, non-alcoholic beers, and various wines on tap. Along with all the beverage options, there will also be food trucks at the location Thursday through Saturday.
The owners, Sidney and Rob Harrelson both share a passion for the beer and restaurant industry.
“I first got passionate about beer through my sister because it was something we could bond over,” Rob said, “I started reading books about it and as soon as I turned 21 I got into the industry.”
Rob and Sidney first met while they were working as a brewer and a bartender.
“I started working as a bartender and managing restaurants and through this, I was able to learn about purchasing beer for a rotating tap list,” Sidney said.
Alongside the wide selection of beverages on tap, Sidney and Rob also plan to host a variety of events at Bert’s Brewing, including a classic car rally,
...More info on site
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USA, VA: Coyote Hole Craft Beverages to launch Mineral Brewing in Mineral, VA by mid-September
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Coyote Hole Craft Beverages, a renowned player in the hard cider and sangria industry, is thrilled to introduce its newest venture, Mineral Brewing, Investing.com reported on July 28.
This exciting development comes as part of Coyote Hole's commitment to expanding its portfolio of exceptional craft beverages. The new brewery and tasting room will be conveniently housed within Coyote Hole's main production and tasting room, nestled in Mineral, VA, at picturesque Lake Anna.
Mineral Brewing promises to deliver an innovative and diverse range of craft beers that will tantalize the taste buds of beer enthusiasts and novices alike. With a dedication to sourcing only the finest ingredients and employing masterful brewing techniques, the brand seeks to craft beers that embody both quality and creativity. The tasting room will provide visitors with an immersive experience, allowing them to savor the unique flavors and aromas while enjoying the scenic beauty of the Lake Anna region.
"We are excited to introduce Mineral Brewing as an extension of our commitment to excellence in the craft beverage industry," said Christopher Denkers, Founder and CEO of Coyote Hole Craft Beverages. "This new venture allows us to showcase our passion for crafting extraordinary beers while offering beer enthusiasts a delightful
...More info on site
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Canada, BC: Andina Brewing Company confirms permanent closure
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Andina Brewing Company closed down in the spring; at the time it was announced as a temporary closure, but one of the owners has confirmed that the business has since permanently closed.
"We had a dispute with the landlord and the business was shut down on April 7, 2023," Andres Amaya said. "We were hoping to resolve these issues but we were unsuccessful."
Amaya and his brother Nicholas founded the brewery at 1507 Powell St. in 2017; it brought a distinctly South American style to the Vancouver craft brewing scene. The Colombian brothers celebrated the country's flavours in Andina's food (including plantain nachos called "platchos" and arepas) and beer. They even imported malts from Chile, the first brewery in Canada to do so.
The brewery's brand was also pulled from Colombia, with Andina referring to women from the Andes and their logo a representation of La Pola, a slang word for beer in the country and the nickname of a heroine from the country's fight for independence.
Over the six years it was open Andina racked up several awards at the provincial and national level.
Amaya says the brewery is now for sale.
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India: United Breweries reports 15.8% fall in June quarter profit
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India's United Breweries Ltd reported a 15.8% fall in June-quarter profit on July 28, dragged by higher excise duty and costs, the Yahoo News
...More info on site
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World: Barley prices continue to move higher
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World barley prices continue to move back higher after the considerable downward trend since June 2022, RMI Analytics said in their latest report.
France has
...More info on site
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Vietnam: Sabeco sees profits plunge 32% yoy due to rise in marketing expenses
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Sabeco, the brewer of Saigon Beer, saw profits plunge 32% year-on-year to VND1.2 trillion ($50.7 million) in the second quarter as rising competition pumped
...More info on site
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Nigeria: Guinness Nigeria Plc incurs whopping N49 billion in exchange rate losses in financial year to June 2023
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Guinness Nigeria Plc incurred a whopping N49 billion in exchange rate losses according to the information contained in its full-year results for the period ending June 2023, the Nairametrics reported on July 27.
The loss per share declared was N8.29 kobo versus N7.15 earnings per share a year earlier.
Key highlights
• Revenue for the year was N229.2 billion +10.9% YoY
• Gross profit was N78.1 billion +7.5% YoY
• Operating profit N23.3 billion -2.3%
• Net finance cost N45.4 billion +20040.1%
• Loss after tax N18.1 billion -216.1%
• Loans and advances N63.7 billion vs N31.3 billion YoY
• Cash generated from operations N57.3 billion vs N38.9 billion YoY
• Cash in bank N92.1 billion vs N69.1 billion
• The dividend declared is N15.6 billion compared to N1 billion YoY
• DPS is N7.14 per share +1452%YoY
The forex depreciation led the company to a loss of N18.1 billion, its first full-year loss since 2020 when Covid-19 ravaged company financials.
Adjusting for the extraordinary forex loss of N49 billion, the company reported an operating profit of N23.5 billion.
Thus without the forex charge, Guinness would have reported strong profits.
Guinness also reported an unrealised exchange rate gain of N5.5 billion on foreign currency balances.
Guinness has a related party dollar loan of $22.5 million which means the naira equivalent is now N17.9 billion compared to N9.4
...More info on site
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UK: Barley area estimated to increase by 5% this year
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The UK will harvest less wheat due to more barley and oilseed rape being sown, according to AHDB's latest planting and variety survey, FarmingUK
...More info on site
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Nigeria: Nigerian youths increasingly turning from beer to whisky and spirits
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Tunde Akinola, a recent graduate, was not really interested in spirits until recently. “I appreciate the different flavours that can be found in whisky,” he said. “I was never really interested in spirits until recently. I was at a party and I tried some spirits, and I was really surprised by how much I enjoyed it.”
Akinola says that he now enjoys whisky both at home and with friends.
Nnamdi Ogbeide is another Nigerian who has turned to whisky. He says he is simply looking for something new to try.
“I’ve always been a beer drinker,” he said. “But I’ve been hearing a lot about spirits lately, and I wanted to see what it was all about.”
“There have been changes in consumption trends recently. Young guys are not drinking beer as much. Spirits are more exciting than beer,” Abiola Gbemisola, a consumer analyst at FBNQuest, said.
Analysts said many Nigerian youths have traditionally been fond of beer, but in recent years, they are increasingly turning to whisky or spirits, BusinessDay NG reported on July 28.
A new report by Williams & Marshall Strategy, a global market research company, showed Nigerians have shown an increasing interest in exploring a more comprehensive range of spirits.
According to the
...More info on site
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Kenya & Tanzania & Uganda: East African Breweries Limited’s annual net profit declines 21%
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East African Breweries Limited (EABL) posted a 21% decline in its net profit for the full year ended 30th June 2023 to KSh 12.32
...More info on site
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France: Crop conditions stable to slightly worse as of July 24
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French crop conditions were stable to slightly worse in the week to July 24, as the harvest of winter crops continued to advance, according
...More info on site
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