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E-Malt.com Newsletter 33b
August 17 - August 20, 2023
Quote of the Week
There is nothing impossible to they who will try.
Alexander the Great
Currency Rates
Base Currency: US Dollar
on August 18, 2023 |
Base Currency: Canadian Dollar
on August 18, 2023 |
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1 USD = 0.9194 EUR
1 USD = 0.7849 GBP
1 USD = 1.3529 CAD
1 USD = 1.5608 AUD
1 USD = 146.0990 JPY
1 USD = 4.9823 BRL
1 USD = 94.4976 RUB
1 USD = 7.2696 CNY
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1 CAD = 0.7390 USD
1 CAD = 0.5801 GBP
1 CAD = 0.6795 EUR
1 CAD = 1.1535 AUD
1 CAD = 107.9710 JPY
1 CAD = 3.6821 BRL
1 CAD = 69.8362 RUB
1 CAD = 5.3724 CNY
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Currency Rates Chart
Equities of the Largest Breweries
Canada: Antitrust regulator not to challenge takeover of Canada Malting parent by Malteries Soufflet
...Click here
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North America: Canada barley crop forecast lowered on unfavourable weather
...Click here
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USA: Bud Light will have a future in America, survey shows
...Click here
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USA, TX: Deadbeach Brewery planning regional brewery opening in September
...Click here
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Mexico: Grupo Modelo to build corn processing facility in Guanajuato for beer production
...Click here
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USA: Anheuser-Busch heir offers to buy back Budweiser and Bud Light
...Click here
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USA, MD: Third Hill Brewing Co. to open in Silver Spring this week-end
...Click here
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USA, MA: Arcpoint Brewing to open as first brewery in Belchertown
...Click here
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USA, MI: Loaded Dice Brewery to move to new Clawson location next year
...Click here
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USA, IA: Toppling Goliath opening second location in Des Moines' Drake neighborhood
...Click here
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USA, WA: Woodinville’s Sumerian Brewing closing down
...Click here
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USA, IL: Fox Republic Brewing holds ribbon cutting ceremony in Yorkville
...Click here
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China: China Resources Beer's first-half net profit jumps 22%
...Click here
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World: Global grain inventories revised slightly upward but barley forecast to decline to 28-year low
...Click here
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Australia: Quite good current barley crop situation allows analysts to increase production forecast
...Click here
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World: Value of Scotch Whisky exports holds steady in H1
...Click here
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Nigeria: Guinness Nigeria Plc denies plans to shut down operations over foreign exchange crisis
...Click here
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UK: AHDB believes China-Australia barley conflict resolution means strong potential for UK exports into Europe
...Click here
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India: Many craft beer brands struggling against stiff fees, complex rules in India
...Click here
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UK: Whisky production begins again in Belfast for first time in nearly 90 years
...Click here
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UK: Heineken launches Spanish lager Cruzcampo in the off-trade
...Click here
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Graph of the Week
Table of the Week
France Barley Supply & Disposition 2017-2024f
Prices Evolution
Barley Prices
Theoretical Malt Prices
These Days in Business History
17 August
1802 - In one of history's greatest acts of inventive daring, Robert Fulton launches his new steamboat from the north shore of Manhattan
1998 - The Russian government devalues the ruble and declares a moratorium on paying its foreign debt, a de facto default that sends the global bond markets crashing, triggers the collapse of the giant U.S. hedge fund Long-Term Capital Management and sends shockwaves through the world's financial system
18 August
1868 - French astronomer Pierre Janssen discovers helium
1904 - Max Factor Jr was born, CEO (Max Factor Cosmetics)
1937 - 1st FM radio construction permit issued (W1X0J (WGTR) in Boston MA)
1952 - Patrick Swayze was born in Houston Texas, actor/dancer
1960 - 1st photograph bounced off a satellite, Cedar Rapids, Iowa
19 August
1888 - 1st beauty contest (Spa, Belgium), 18 year old West Indian wins
1897 - 1st electric taxi's drive in London
1946 - Bill Clinton was born, the 42nd US President. (Former Little Rock Attorney)
20 August
1741 - Alaska discovered by Danish explorer Vitus Bering
1896 - Dial telephone patented
1960 - USSR recovers 2 dogs, 1st living organisms to return from space
Agenda
August 2023:
18 - 19: Beervana 2023 (Wellington, New Zealand)
September 2023:
04 - 06: 13th Iberoamerican VLB Symposium Brewing & Filling Technology (IBS) (Bogota, Colombia)
08 - 09: Stockholm Beer & Whisky Festival 2023 (Stockholm, Sweden)
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:
13 - 15: 108 International Brewing & Engineering Congress 2024 (Groningen, the Netherlands)
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)
24 - 26: Mondial de la Biere 2024 (Montreal, Canada)
26 - 30: The Brewers of Europe Forum 2024 (Lille, France)
News Articles
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Canada: Antitrust regulator not to challenge takeover of Canada Malting parent by Malteries Soufflet
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The owner of one of Canada’s major commercial maltsters says its takeover by a major French peer won’t be challenged by Canada’s antitrust regulator,
...More info on site
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North America: Canada barley crop forecast lowered on unfavourable weather
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Rain fell across large parts of North America during the last week of July and first week of August, but many key barley regions
...More info on site
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USA: Bud Light will have a future in America, survey shows
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Bud Light's sales may not keep slipping forever.
At least that's the vibe from a new Deutsche Bank survey of consumers, which flew under the radar of investors this week, Yahoo Finance reported on August 17.
The proportion of beer drinkers who no longer buy Bud Light fell to 19% in August from 21% in July. The percentage of people buying less Bud Light was reduced by 1.7% while the percentage buying more improved by 3.2%.
Powering the budding comeback: consumption among those over the age of 25 and those earning less than $25,000 a year.
Deutsche Bank also found that disenchanted Bud Light drinkers may return in substantive quantity by early 2024.
"Crucially, the proportion of former Bud Light drinkers who say they are very unlikely to buy the brand in 3-6 months’ time has reduced from 18% to just 3%, a significant improvement," the report's lead author Mitch Collett wrote. "Our data also suggests that Corona and Heineken remain the main beneficiaries of Bud Light's losses, however, the gains are lower vs July."
Collett reiterated a Buy rating on Bud Light maker Anheuser-Busch InBev's stock, citing its attractive valuation in the context of what could be a rebound in the company's key brand.
That said,
...More info on site
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USA, TX: Deadbeach Brewery planning regional brewery opening in September
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Deadbeach Brewery announced that it is closing one door and opening a bigger one in September, the El Paso Times reported on August 16.
Owners of the brewery have been working on opening a regional craft brewery, which will be in Central El Paso at 3200 Durazno. El Paso businessman Jason Hunt and his partners celebrated the groundbreaking in May 2021.
At the time, Hunt said the dream was always to be a distributor and appeal to all segments of the community.
The brewery is known for its Chihuahefe, Deadbeach Lager and Abuela Stout beers.
Therefore, they will be closing the restaurant at 406 S. Durango St. The last day of operation at that site will be Saturday, Aug. 26, for its Borderland BeerFest.
The event will be from 3 p.m. to midnight and feature craft beer from all over the region. Admission is free to the festival.
"Our beloved Downtown location will be closing. This decision was not an easy one, but we know that it’s the right one for us," stated the brewery in a Facebook post on Tuesday, Aug. 15.
The new regional production facility will have a tap room, entertainment space and place for canning beer.
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Mexico: Grupo Modelo to build corn processing facility in Guanajuato for beer production
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Mexican beer maker Grupo Modelo and Millfoods will invest $300 million to build a corn processing facility in central Guanajuato state for beer production, Mexico's economy ministry announced in a statement on August 17, Yahoo Finance reported.
The plant is expected to generate more than 1,000 jobs, and once construction of the plant is finished next year, the project will benefit some 20,000 corn farmers in central Mexico, according to the ministry.
Modelo, part of Belgium-based Anheuser-Busch Inbev's global beer business, stressed it will support local corn production over imports, the statement added, which is also a top government priority.
The ministry also touted the plant's technology that should allow it to use less water.
Millfoods will be an investor in the project and operator of the plant, which will be located in the city of Salamanca, the statement added.
Beer is a major export for Mexico, which has traditionally relied on imported grains over local production to make the popular alcoholic beverage.
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USA: Anheuser-Busch heir offers to buy back Budweiser and Bud Light
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Anheuser-Busch heir Billy Busch has offered to buy back the business that bears his family name, if AB InBev offered to sell it, The Drinks Business reported on August 17.
In a recent interview on OutKick, Busch said that if AB InBev wants to offload Budweiser – and its low calorie variant Bud Light – then he would be happy to buy the brand back.
Busch said: “If they don’t want that brand any longer, sell it back to the Busch family. Sell it to me. I’ll be the first in line to buy that brand back from you, and we’ll make that brand great again.”
The Busch family sold Anheuser-Busch to the Belgium beer giant InBev in 2008, creating the global beer behemoth that is now known as AB InBev. However, during the interview, Busch questioned AB InBev’s management of the Budweiser brand, which counts the Bud Light variant as part of its remit.
In describing why he wanted to offer to buy the Budweiser brand back, Busch explained his views on the difference between how Anheuser-Busch was led before the sale compared to how AB InBev runs things today and insisted that his family spent time getting to know its drinkers and
...More info on site
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USA, MD: Third Hill Brewing Co. to open in Silver Spring this week-end
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On Saturday, August 19, a new brewery becomes part of the Silver Spring Brewer & Arts District. Third Hill Brewing Co. opens its doors from 1 – 10 p.m. to celebrate. It joins Denizen’s Brewing and Silver Branch Brewing Company as part of a walkable downtown experience, the Montgomery Community Media reported.
Designated by the state to improve economic development in Silver Spring, the breweries serve as part of a larger arts and entertainment district that includes 160 bars and eateries and hundreds of venues and creative enterprises.
MCDOT and Silver Spring Urban District recently completed a Safe Streets initiative to make the sidewalk area in front of Third Hill more pedestrian friendly.
Third Hill occupies the space formerly held by Astrolab Brewing at 8216 Georgia Avenue. The grand opening features live music, giveaways and an official “christening” of the new business at 2 p.m.
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USA, MA: Arcpoint Brewing to open as first brewery in Belchertown
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Chris Peterson, CJ Eldridge and Dave Pare from Arcpoint Brewing have signed a lease at 30 Front St. to open the first brewery and taproom in Belchertown, Reminder Publications reported on August 17.
Peterson said, “We want to be taproom focused. If we can, we won’t do a lot of distribution. We really want to create an atmosphere for people to come out, put their phones away, socialize with each other. We want to promote getting away from your screen and having a good time.”
Peterson said Belchertown was their ideal place to open their first brewery.
Peterson said, “We always put Belchertown in the forefront of our minds. We really didn’t want to open up anywhere else. Our partner Dave was just driving around and he had seen a lease sign go up at the location we are at now. The price was right, the place was great, the location was great, it was like winning the lottery to the point where we locked down the lease in January and have been paying on the lease before we even got the loan squared away because we were that excited.”
The owners are currently working with an architect to get their plans finished and
...More info on site
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USA, MI: Loaded Dice Brewery to move to new Clawson location next year
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Loaded Dice Brewery — which opened in 2020 inside a tucked-away plaza in Troy and has since become known in the southeast Michigan region for its off-the-wall but tasty brews and sharing the recipes — is on the move, but it's not going far, the Detroit Free Press reported on August 17.
Owner Jef Smith confirmed that Loaded Dice will open at 400 S. Main St. in Clawson next year, and is finalizing plans and documents for further approvals with the city and receiving bids on the project. Clawson, a small Oakland County community of about 11,000 people, has not had a brewery since Black Lotus Brewing closed in 2019 (though Grand River Brewery plans to open a taproom in the former Black Lotus location).
The move to the 7,800-square-foot space will allow Loaded Dice to increase its beer production and taps, while also introducing wine, cider and mead options. It'll feature a small kitchen, event space and outdoor beer garden with fire pits and a community space.
“Our current space has cultivated an atmosphere that approaches the brewery experience with a fun and whimsical attitude," Smith said in a news release. "Our new space will allow us to continue this and create
...More info on site
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USA, IA: Toppling Goliath opening second location in Des Moines' Drake neighborhood
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Iowa's largest and most famous brewery, Decorah-based Toppling Goliath, will be opening a second location in Des Moines' Drake neighborhood, co-founder Clark Lewey says, The Des Moines Register reported on August 17.
Lewey said the brewery will be part of a 110,000-square-foot, five-story development planned on Carpenter Avenue between 24th and 25th streets north of University Avenue. It's set to open sometime in 2025.
Announced in October 2021 by Merge Urban Development Group of Cedar Falls, the project will house the brewery on the ground floor and have housing units and offices on the upper floors.
At 13,000 square feet, the brewery will be comparable in size to Big Grove Brewing's expansive Des Moines taproom that opened a year ago in the former Crescent Chevrolet building in the Sherman Hill neighborhood. Lewey said the space, like Big Grove's, will include patios.
The Merge development is a neighbor to the newly renovated and reopened Varsity Cinema and is directly adjacent to the Drake University campus. The university has been investing in redevelopment of the Dogtown business district along University Avenue and sold Merge the land the development will occupy.
"We’re thrilled to welcome Toppling Goliath to a property previously owned by the University and incredibly proud
...More info on site
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USA, WA: Woodinville’s Sumerian Brewing closing down
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Sumerian Brewing of Woodinville, Washington is closing down. This development marks an end as well as a beginning. Watts Brewing will move into the space, taking over the equipment and the taproom. Same location, same brewery, different beer, different owners, the Washington Beer Blog reported on August 17.
Sumerian Brewing opened in 2015 and was founded and owned by Holly and Mark Ihrig, who have decided to move on and explore other opportunities. We’re told that Sumerian Brewery’s employees will carry on as part of the new enterprise. A notable exception, head brewer Tyson Schiffner is exiting the beer biz and has accepted a position in a beer-adjacent industry.
Watts Brewing, currently in Bothell, Washington, opened in 2016. Evan Watts is the founder and brewer. Until now, it has operated as a production-only brewery, distributing beer very locally. That’s about to change as the company takes over a much larger brewery, one that includes a taproom. We will share more about Watts’ plans in a follow-up story.
But before that happens, the Sumerian Brewing taproom will host one more soiree, a kill-the-kegs sort of event. Details TBD. Keep an eye on Sumerian Brewing’s social media channels: Facebook and Instagram.
Holly Ihrig says that the
...More info on site
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USA, IL: Fox Republic Brewing holds ribbon cutting ceremony in Yorkville
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The Yorkville Area Chamber of Commerce welcomed Fox Republic Brewing, located at 101 W. Hydraulic Ave. in downtown Yorkville, with a ribbon cutting, the Shaw Local reported on August 17.
Guests enjoyed a tour of Yorkville’s first craft brewery and product samples. Brewery amenities include a variety of beers and seltzers on tap, events and visiting food trucks.
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USA, IL: MyGrain Brewing going out of business
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One of Joliet's microbreweries, MyGrain Brewing, located in the historic Union Station in downtown Joliet, is going out of business this weekend. MyGrain made the sad announcement on Thursday, August 17, the Patch reported.
"I am extremely sad that after six years we will be closing our doors permanently on August 19. It's been a long and fun journey for us, we loved being part of the Joliet community and helping the downtown area grow," the Facebook post read. "Unfortunately, we never fully recovered from the setbacks we experienced during covid and I do not want MyGrain Brewing Company to continue operating if we cannot bring you the service, food and brews that you have come to expect from us. Our customers and our employees deserve more than we can currently provide in these conditions.
"We have a few more days of open doors and full service. I hope to see all of our loyal customers this week and share our sincere apologies in person."
MyGrain's closing is the latest in a string of Joliet region breweries that have shut down recently. Others have happened in Mokena, Oswego and Romeoville.
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China: China Resources Beer's first-half net profit jumps 22%
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China Resources Beer's first-half net profit jumped 22% as beer consumption recovered with the reopening of China's economy, the Morning Star reported on August
...More info on site
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World: Global grain inventories revised slightly upward but barley forecast to decline to 28-year low
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Global inventories of total grains, which includes wheat, corn and other coarse grains, were revised slightly upward in the International Grains Council’s (IGC) latest
...More info on site
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Australia: Quite good current barley crop situation allows analysts to increase production forecast
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Ongoing beneficial rains are falling across most of the main barley regions in Australia and the forecast for the coming week is also favourable,
...More info on site
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Finland: Second-quarter beer sales drop 2%
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The domestic sales of beer and other beverages continue to exhibit trends of change as the Finnish Brewers' Association releases its quarterly report. Member
...More info on site
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World: Value of Scotch Whisky exports holds steady in H1
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Consumers are drinking less alcohol but turning to more premium options, says the Scotch Whisky Association as it releases export figures for the first
...More info on site
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Nigeria: Guinness Nigeria Plc denies plans to shut down operations over foreign exchange crisis
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A leading brewery company, Guinness Nigeria Plc, has reacted to reports in some quarters of the media that it was planning to shut down its operations over the foreign exchange (FX) crisis in the country, the Business Post Nigeria reported on August 16.
Though it acknowledged that the forex liquidity squeeze in Nigeria was affecting business operations in the country, it was not planning to leave because of that.
In a statement on August 16, the beer maker said it would remain in Nigeria, which is unarguably its biggest market in Africa, and find its way around the FX shortages the nation was battling with.
Read the full statement below:
The attention of the management of Guinness Nigeria Plc has been drawn to reports published by some blogs and online media platforms, which wrongfully claimed that the company may be shutting down operations in Nigeria allegedly due to the impact of some reported forex losses in recent times.
It is important to clarify that this publication and the sensational headlines being circulated by these blogs and online media platforms is baseless and misleading as Guinness Nigeria at no time, put out this erroneous communication nor shared any statement that can lead to such inaccurate conclusions.
The
...More info on site
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UK: AHDB believes China-Australia barley conflict resolution means strong potential for UK exports into Europe
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Recently, China announced they were lifting the 80.5% anti-dumping and countervailing duties on Australian barley. This duty had been in place since May 2020,
...More info on site
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India: Many craft beer brands struggling against stiff fees, complex rules in India
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Stiff fees, complex rules and the pandemic have snuffed out many of India’s small but promising craft beer brands, with the remaining shrinking operations and entering adjacent segments, the Mint reported on August 16.
Makers of Witlinger, Mad King and White Owl craft beers have either shut shop or started new ventures, while owners of Kati Patang, White Rhino and Beor 360 have scaled back their operations.
Kati Patang beer, a runaway hit with its unique small-batch flavours like saffron, turmeric and lemon rind, has shrunk considerably in the six years since its launch. Its only available variant in the Delhi market now is Bareilly Bold, a strong lager, against four variants earlier. The company had to shell out ₹22 lakh to register the variant, a mandatory fee to sell each liquor brand or variant in the capital.
Co-founder Shantanu Upadhyay said Kati Patang had no choice but to shift gears. “While craft brands based in India do have a market, and we, along with our investors, strongly believe in this, the flip-flop in excise policies coupled with covid-19 have affected many businesses. We would love to have more support in India on the regulatory front. But
...More info on site
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UK: Whisky production begins again in Belfast for first time in nearly 90 years
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Whiskey production has begun again in Belfast for the first time since the 1930s, Yahoo Finance reported on August 17.
An £8 million conversion on the site of the Thompson Dock and Pumphouse in Titanic Quarter now facilitates the city’s first working whiskey distillery in nearly 90 years.
Titanic Distillers has been granted its licence and is now pouring at the distillery, which will produce single malt whiskey made from a blend of malted barley and yeast.
Head distiller Damien Rafferty said whiskey from the site could be a new export for Northern Ireland.
“In many ways though, the job is only beginning as we start producing a whiskey that the people of Belfast and Northern Ireland can be proud of, and one that will represent us well all over the world,” he said.
“We opened our doors to tourists in April this year to allow visitors to explore the distillery and the site where Titanic last rested on dry ground.
“But to finally begin production on site is an incredible feeling and a huge milestone, not just for us but for the city of Belfast.
“A lot of time, hard work and investment has gone into this amazing project to date, but this week marks the
...More info on site
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UK: Heineken launches Spanish lager Cruzcampo in the off-trade
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Heineken UK has launched leading Spanish lager Cruzcampo in the off-trade, following an on-trade launch earlier this year, Better Retailing reported on August 17.
Cruzcampo (4.4% ABV), which is the number-one draught lager in Spain according to Nielsen figures, has launched to convenience stores via Booker and One Stop. It is initially available in 4x440ml and 10x440ml multipacks, with respective RRPs of £6.25 and £12.50.
Additional formats will be launching in September, including a 660ml bottle (RRP £2.75) and a 12x330ml bottle multipack (RRP £12.50).
The supplier says the beer offers consumers a premium beer at an affordable price point, in the wake of a survey in which 29% of UK consumers say they’ve reduced their spend on alcohol.
Alexander Wilson, category & commercial strategy director – off-trade at Heineken UK, said: “Mainstream lager makes up 38% of total Beer value but has lacked innovation in recent years. With almost half of premium and world lager growth since Covid (43%) coming from Spanish brands, we see an opportunity to launch Cruzcampo as an affordable trade-up option for lager drinkers who enjoy discovering new experiences. The launch of Cruzcampo in the on-trade has been extremely popular as consumers seek out authentic Spanish beers and we’re
...More info on site
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