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E-Malt.com Newsletter 38a
September 18 - September 20, 2023
Quote of the Week
Ale sellers should not be tale tellers.
Old Scottish proverb
Currency Rates
Base Currency: US Dollar
on September 20, 2023 |
Base Currency: Canadian Dollar
on September 20, 2023 |
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1 USD = 0.9357 EUR
1 USD = 0.8071 GBP
1 USD = 1.3449 CAD
1 USD = 1.5500 AUD
1 USD = 147.7520 JPY
1 USD = 4.8574 BRL
1 USD = 96.4369 RUB
1 USD = 7.2940 CNY
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1 CAD = 0.7435 USD
1 CAD = 0.6001 GBP
1 CAD = 0.6957 EUR
1 CAD = 1.1524 AUD
1 CAD = 109.8470 JPY
1 CAD = 3.6113 BRL
1 CAD = 71.6963 RUB
1 CAD = 5.4227 CNY
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Currency Rates Chart
Equities of the Largest Breweries
USA, MA: White Lion Brewing Compan launches its newest location in downtown Amherst
...Click here
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USA, MA: Courthouse Brew Co. already open in Worcester
...Click here
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USA: AB InBev signals new focus on its Michelob beer brand
...Click here
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USA, MI: Red Rocker Brewing Co. set to debut in Detroit
...Click here
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USA, KY: Trellis Brewing opening this winter in Louisville
...Click here
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USA, CA: Metabolic Brewing Co. coming to Ontario, California
...Click here
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USA, PA: Liquid Art Brewing announces immediate closure of its Philadelphia brewery and taproom
...Click here
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Spain: Average per capita beer consumption estimated at 58 litres
...Click here
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Asia: Asia takes lead as biggest consumer of Scotch whisky
...Click here
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Argentina: Barley crop forecast remains at 4.59 mln tonnes on good weather conditions
...Click here
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Australia: Barley prices trending higher since removal of import tariffs by China
...Click here
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Singapore: ThaiBev enters into 5-year term loan agreement to repay existing debt
...Click here
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The Czech Republic: Saaz hop-growing landscape granted UNESCO World Heritage status
...Click here
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Hungary: Competition Authority fines Heineken for breaching new trading rules
...Click here
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Graph of the Week
Table of the Week
World Hops Area and Production 2018 - 2022
Prices Evolution
Barley Prices
Theoretical Malt Prices
These Days in Business History
18 September
1837 - Tiffany and Co. (first named Tiffany & Young) is founded by Charles Lewis Tiffany and Teddy Young in New York City
1842 - 1st edition of Pittsburgh Post-Gazette is published
1851 - The first edition of The New York Daily Times, which later became The New York Times,is published
1955 - The Ford Motor Company produced its 2,000,000th V-8 engine on this day, 23 years after the first Ford V-8 was manufactured
19 September
1849 - 1st commercial laundry established in Oaklan, California
1854 - Henry Meyer patents sleeping rail car
1876 - 1st carpet sweeper patented (Melville Bissell of Grand Rapids, Mich)
1887 - Dr. Graham Edgar, developer of the octane rating system, was born in Fayetteville, Arkansas, on this day
1888 - World's 1st beauty contest (Spa, Belgium)
20 September
1519 - Portuguese navigator Ferdinand Magellan sets sail from Spain in an effort to find a western sea route to the rich Spice Islands of Indonesia
1839 - 1st railroad in the Netherlands opens (Amsterdam-Haarlem)
1877 - Chase National Bank opens in NYC (later merges into Chase Manhattan)
Agenda
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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USA, MA: White Lion Brewing Compan launches its newest location in downtown Amherst
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At 4 p.m. on Thursday, September 14 White Lion Brewing Company opened its newest location in Downtown Amherst through a ribbon-cutting ceremony. The venture was supported by University of Massachusetts basketball alumni and former NBA player Marcus Camby, the Massachusetts Daily Collegian reported.
“I don’t know what a downtown is without a brewery and if we were going to have one, we were going to go for the best [one,]” Gabrielle Gould, executive director of the Amherst Business Improvement District said.
Gould was among many involved with helping White Lion add a location in Amherst. The founder of the brand, Raymond Berry Jr., started the company in 2014 in Springfield and spoke at the ceremony.
“Doesn’t matter who you are or where you come from, at the end of the day, it’s about sharing in a common experience,” Berry said.
The company has since been very popular as the first local craft beer business in Springfield. For the past five years, opening a new location has been a dream of Berry’s.
“Ray [Berry is] not new to Amherst. He’s been coming for a long time, setting it up in the town common regularly. He knows our town so thank you, Ray [Berry], for being here
...More info on site
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USA, MA: Courthouse Brew Co. already open in Worcester
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It’s safe to say Mark Gawlak and Danny Whalen formed a bond through beer, the Spectrum News reported on September 17.
"We both worked in the restaurant industry bartending and waiting tables," said Gawlak. "Kind of nice to be at the top of that."
The Central Massachusetts natives, who are also both attorneys, decided it was time to branch out from their side jobs of serving beer, to actually brewing it.
So, after taking classes and crafting some practice batches, they opened Courthouse Brew Co. at the historic Whitmall Mill property on Brussels Street in Worcester.
"We're just trying to have a lot of fun with it," Gawlak said. "We're not trying to check any boxes, not trying to be like everybody else. We think we're really setting ourselves apart."
The duo says setting yourself apart in this industry can be tough, but it’s a challenge they're looking to take on head first.
Worcester has a half-dozen other breweries, including mainstays like Wormtown and Greater Good. Being somewhat of an underdog is something the team at Courthouse is embracing.
"It's all about creating a really good atmosphere and environment for people to come on in, they feel comfortable, welcome, great beer, and it's just a good place
...More info on site
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USA: AB InBev signals new focus on its Michelob beer brand
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Anheuser-Busch InBev has elevated its low calorie lager Michelob Ultra to the status of "global brand", according to an investor presentation held on September 19, positioning it to better compete with Dutch rival Heineken, Reuters reported.
The world's largest brewer previously bestowed that title on just three of its biggest-hitting labels, Budweiser, Corona and Stella Artois, as recently as Aug. 3. But presentation slides on September 19 included Michelob Ultra, already a big hit in the U.S., in the group.
Chief Marketing Officer Marcel Marcondes added during the presentation that the company now sees Corona as its "leading horse" globally. Alcohol-free version, Corona Cero, meanwhile, will be its number one focus in the no-alcohol category.
The moves see AB InBev squaring up with rival Heineken, whose new light beer Heineken Silver is looking to win share in in the critical U.S. market, and whose Heineken 0.0% is the global market share leader in the no-alcohol category.
Light beers, which contain fewer calories and carbohydrates, are gaining traction as consumers become increasingly health conscious. AB InBev's Bud Light previously dominated the category in the U.S., but lost its top spot following a backlash from conservatives over a social media promotion with transgender influencer Dylan Mulvaney.
"Michelob
...More info on site
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USA, MI: Red Rocker Brewing Co. set to debut in Detroit
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Rock & Roll Hall of Famer Sammy Hagar, known as the “Red Rocker,” is stepping into the craft beer scene with the grand opening of Red Rocker Brewing Co. in Detroit. The brewery’s inaugural beer, a Mexican-style lager named Red Rocker Lager, is set to debut with a bang during a live concert featuring Sammy Hagar & The Circle at the Fillmore Detroit on Monday, Oct. 23, the Detroit Metro Times reported on September 18.
“Rock ’n’ roll is at the heart of Red Rocker Brewing Co., and there’s no better place to brew our beer than in Detroit Rock City,” Hagar said in a press release. “We created Red Rocker Lager to not only honor the fans but to also pay tribute to the soul of Detroit rock ’n’ roll.”
Hagar has previously entered the spirits industry with brands like Cabo Wabo Tequila and Sammy’s Beach Bar Rum, but is now turning his attention to beer.
Red Rocker Brewing Co. is a collaboration with the Michigan native brewer, Cameron Schubert, who has 13 years of brewing expertise. Together with his father, Eric Schubert, they’ve created a golden, medium-bodied Mexican-style lager that pays tribute to Hagar’s Cabo San Lucas roots.
“Our head brewer Cameron
...More info on site
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USA, KY: Trellis Brewing opening this winter in Louisville
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A new brewery is opening this winter in Louisville’s Smoketown neighborhood, The Courier-Journal reported on September 15.
Trellis Brewing has hinted at its plans since July 2022. The owners, Kyle Jahn and Ryan Reed, have confirmed they are set on a winter launch at the 7,500-square-foot building at 827 Logan St.
"We're moving and grooving with a full construction permit," Trellis Brewing posted on its Facebook page in late August. "In celebration, here's a peak at a conceptual rendering of Trellis. We still have some surprises in store for the community courtyard and many more."
The rendering, via Beargrass Development, shows a large space in the former Merchant’s Ice Tower property.
"The brewery will be able to brew 1,000 barrels annually and will feature indoor seating for approximately 100 customers, with additional seating in a large community space outdoors," according to Louisville Ale Trail.
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USA, CA: Metabolic Brewing Co. coming to Ontario, California
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A concept dubbed Metabolic Brewing Co. is coming to 1609 S. Grove Avenue in Ontario, according to a “small beer manufacturer” license recently filed with The Department of Alcoholic Beverage Control, What Now Los Angeles reported on September 15.
Metabolic will replace Braemar Brewery at the Pepper Grove Business Center, a well-maintained business park that boasts 84,571 square feet of space for lease.
Though Metabolic doesn’t yet appear to have a website or social media, its Google listing calls it “a new brewery that blends healthcare & science fiction.”
What Now Los Angeles reached out to Co-owner David Fresquez for comment but received no immediate feedback. Fresquez’s partners on the project are listed as Kathryn Fresquez and Lerone Mullin.
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USA, PA: Liquid Art Brewing announces immediate closure of its Philadelphia brewery and taproom
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Liquid Art Brewing (the brewery formerly known as Roy Pitz) has announced the closing of their Philadelphia brewery and taproom; the Liquid Art Barrel House. With the closure set to happen immediately, Breweries in PA reported on September 15.
The Philadelphia based location, which had been open for 6 years, was home to a 4,000 square foot space that specialized in strictly barrel aged brewing for the brand. The taproom offered guests a spacious location for a night out with friends and/ or family with room for 130 guests.
The space featured and industrial yet elegant setting and featured a robust menu ranging from starters, shareable, entrees, salads and desserts.
Liquid Arts continues to live on in their recently opened location in Gettysburg as well as their main brewery in Chambersburg. You can see the full announcement of the Philadelphia closure below.
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USA, OR: Pono Brewing ceasing all production
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Almost three months after announcing that it would close its first pub in the Hollywood District, Pono Brewing is ceasing all production, the Willamette Week reported on September 15.
The company shared the news with its social media followers on Sept. 14. Its owners say the lack of traffic at the bar and restaurant at 1728 NE 40th Ave., Portland and high operating expenses were simply too much for the brewing side of the business to bear.
“When we made the decision to shut down Pono Brew Labs, it was and still is a very costly process,” the online post stated. “Pono Brewing was supporting our Pono Brew Labs location and, unfortunately, it took too much of a financial toll.”
Pono became a professionally licensed brewery in 2016 and, until last year, was one of the few producers in town that didn’t have some sort of pub or taproom where people could regularly pop in and expect to find its product. That didn’t seem to deter customers. The brand quickly became a hit at beer, wine and cider festivals, winning multiple people’s choice awards over the years, helping it gain a following.
Head brewer Larry Clouser first launched Pono as a contract brewery, using
...More info on site
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China: Pricier beers gaining fans in China
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Pricier beers are gaining fans in China, with consumers looking for options ranging from something more than basic brews to ultra-premium bottles, the Nikkei
...More info on site
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Spain: Average per capita beer consumption estimated at 58 litres
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The increasingly oppressive heat is leading to a significant increase in beer consumption, which is firmly anchored at the top of the soft drinks
...More info on site
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Asia: Asia takes lead as biggest consumer of Scotch whisky
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Asia has taken the lead as the biggest consumer of Scotch whisky, surpassing Europe, with double digit growth, The Drinks Business reported on September
...More info on site
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Argentina: Barley crop forecast remains at 4.59 mln tonnes on good weather conditions
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Argentina’s barley crop development story remains very positive, as limited rain fell in southern Buenos Aires province, but much-needed rains fell in the areas
...More info on site
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Australia: Barley prices trending higher since removal of import tariffs by China
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The removal of tariffs on Australian barley by Chinese authorities has seen barley prices trend higher since the start of August, according to NAB’s
...More info on site
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Singapore: ThaiBev enters into 5-year term loan agreement to repay existing debt
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Thai Beverage (ThaiBev) announced that it has entered into a five-year term loan agreement with Mizuho Bank, Singapore Branch and Sumitomo Mitsui Banking Corporation Singapore Branch for an amount of JPY 66 billion ($609.3 million) to repay existing debt due in Feb 2024, The Edge Singapore reported on September 19.
The drawdown period is from Feb 27, 2024 to Mar 5, 2024.
The loan repayments will be in three instalments on the 36th month, 48th month and 60th month, respectively after the drawdown date. This loan is unsecured.
Interest bearing debt to equity ratio is less than or equal to 3:1, based on the audited consolidated financial statement.
The group says that it has a cross-currency swap and interest rate swap credit line that it can consider using to mitigate foreign exchange and interest rate risk.
While this loan is not expected to have any material impact on ThaiBev’s financial year, its total debt stands at $214.9 million and gearing comes in at 1.045x as at Sept 30, 2022.
Shares in ThaiBev closed at 57 cents on Sept 19.
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The Czech Republic: Saaz hop-growing landscape granted UNESCO World Heritage status
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The Northwest Bohemian town of Žatec and its surrounding hop-growing landscape have been granted UNESCO World Heritage status. The announcement on Monday, September 18 means that Czechia now has 17 entries on the prestigious list, Radio Prague reported.
Žatec, known in German as Saaz, is internationally famous for growing high-quality Saaz hops. It has seven centuries of tradition in the field and is responsible for a large part of Czechia’s total hop production.
World Heritage Sites are selected by UNESCO for having cultural, historical, scientific or other forms of significance.
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Hungary: Competition Authority fines Heineken for breaching new trading rules
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The Hungarian Competition Authority has fined Heineken Hungária Sörgyárak Zrt. (Heineken Hungary Breweries Zrt.) HUF 15 million (EUR 39,100) for narrowing its beer range and ordered it to establish a compliance program, reports Magyar Nemzet.
The organization’s investigation revealed that Heineken, despite the legal prohibition, had established an almost exclusive supplier cooperation with a restaurant in the capital. The Dutch-owned beer company thus encouraged the restaurant to source almost all its beer from Heineken.
By doing so, the companies have breached the new trading rules by limiting consumer choice and preventing other beer producers from competing, it was ruled.
The Authority’s Competition Council took into account that Heineken is a repeat offender in view of a previous failure to act and that the conduct under investigation was specifically aimed at circumventing the regulation, which was intended to facilitate the entry of smaller players.
In light of these considerations, Heineken Hungária Sörgyárak Zrt. was fined HUF 15 million on the basis of the turnover of the only restaurant investigated, and the Competition Council prohibited the continuation of the infringing conduct.
The Hungarian Competition Authority also ordered the brewer to set up an internal compliance program to ensure that its business conditions do not encourage pubs to
...More info on site
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