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E-Malt.com Newsletter 44a
October 30 - November 01, 2023
Quote of the Week
Dream beautiful dreams, and then work to make those dreams come true.
Spencer W. Kimball
Currency Rates
Base Currency: US Dollar
on November 01, 2023 |
Base Currency: Canadian Dollar
on November 01, 2023 |
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1 USD = 0.9431 EUR
1 USD = 0.8228 GBP
1 USD = 1.3852 CAD
1 USD = 1.5750 AUD
1 USD = 150.7080 JPY
1 USD = 5.0432 BRL
1 USD = 92.7649 RUB
1 USD = 7.3155 CNY
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1 CAD = 0.7218 USD
1 CAD = 0.5939 GBP
1 CAD = 0.6807 EUR
1 CAD = 1.1369 AUD
1 CAD = 108.7850 JPY
1 CAD = 3.6403 BRL
1 CAD = 66.9602 RUB
1 CAD = 5.2805 CNY
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Currency Rates Chart
Equities of the Largest Breweries
Canada: Barley crop estimate remains at 7.87 mln tonnes
...Click here
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USA, IN: More Brewing Co. to break ground on new brewery on October 30
...Click here
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USA, MI: Hall of Famer Sammy Hagar launches Red Rocker Brewing Co. out of Detroit
...Click here
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Canada, BC: Buffalo Rouge Brewing holds grand opening in Kelowna
...Click here
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USA, NM: ReSource Brewing closes down its business after just three years in industry
...Click here
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USA, OH: Third Eye Brewing getting ready to launch Hamilton location
...Click here
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USA, AZ: Borderlands Brewing buys out Dillinger Brewing Company
...Click here
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USA, GA: Pontoon Brewing preparing to close its doors because of ‘prohibition-era’ law holding it back
...Click here
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USA, VA: Richmond’s Isley Brewing Company announces closure
...Click here
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World: Global brewers set to benefit from better profit margins next year, analysts say
...Click here
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World: AB InBev reports better-than-expected revenue in its third quarter
...Click here
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World: Carlsberg reports third-quarter sales broadly in line with expectations, warns of weaker consumer sentiment in Europe and Southeast Asia
...Click here
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Brazil: Ambev sees 19.3% jump in third-quarter net profit
...Click here
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China: Tsingtao’s third-quarter earnings miss analysts’ estimates
...Click here
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Denmark & Russia: Carlsberg cuts ties with 'stolen' Russian business
...Click here
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China: Tsingtao sees its stock price plummet after video of employee urinating in brewery tank went viral
...Click here
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EU: 2023-24 barley crop lower than five-year average
...Click here
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Vietnam: Sabeco sees post-tax profit plunge 23% yoy in Q3
...Click here
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Australia: Late rains help boost barley crop forecast to 11 mln tonnes
...Click here
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Japan: Japan brewers may offer wider variety of products following changes in liquor tax rules
...Click here
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Hungary: Asahi’s Hungarian beer business to receive biggest investment in its history
...Click here
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Thailand: Energy drink maker Carabao to mount full-on challenge to country’s dominating beer brands
...Click here
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Europe: Heineken appoints new President Europe from January 2024
...Click here
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Graph of the Week
Table of the Week
China Malt Imports 2018 - 2022
Prices Evolution
Barley Prices
Theoretical Malt Prices
These Days in Business History
30 October
1894 - Daniel Cooper patents time clock
1987 - August A Busch III becomes CEO of St Louis Cards
1989 - Mitsubishi Estate Co. agrees to pay $846 million for 51% of Rockefeller Center in New York City; by 1996, the Mitsubishi affiliate is so financially troubled that it sells Rockefeller Center for less than $400 million
31 October
1904 - King Camp Gillette patents the safety blade and razor
1938 - Robert Edward was born, he started CNN (amid almost universal predictions of failure) in 1980
1952 - TV broadcasting begins in Belgium
2011 - The global population of humans reaches seven billion. This day is now recognized by the United Nations as Seven Billion Day
01 November
1512 - Michelangelo's paintings on ceiling of Sistine Chapel, 1st time exhibited
1765 - Robert Fulton is born. He invents the world's first practical steamboat in 1807, and for the first time humans can safely travel substantial distances without relying on animals or wind
1894 - Vaccine for diphtheria announced by Dr Roux of Paris
1982 - Honda becomes the first Asian automobile company to produce cars in the United States with the opening of its factory in Marysville, Ohio. The Honda Accord is the first car produced there
1993 - The Maastricht Treaty takes effect, formally establishing the European Union
Agenda
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)
13 - 14: BeerX 2024 (Liverpool, UK)
22 - 23: InnBrew 2024 (Barcelona, Spain)
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)
24 - 24: World Beer Cup 2024 (Las Vegas, USA)
May 2024:
20 - 26: Budapest Beer Week 2024 (Budapest, Hungary)
24 - 26: Cerveza Mexico Expo 2024 (Guadalajara, Mexico)
24 - 26: Mondial de la Biere 2024 (Montreal, Canada)
26 - 30: The Brewers of Europe Forum 2024 (Lille, France)
30 - 01 June: Craft Beer China 2024 (Shanghai, China)
June 2024:
06 - 09: Wiener Bierfest 2024 (Vienna, Austria)
11 - 13: Brasil Brau 2024 (Sao Paulo, Brazil)
August 2024:
08 - 10: VIETFOOD & BEVERAGE - VIETNAM 2024 (Saigon Exhibitions and Conventions Center, 799 Nguyen Van Linh Street, District 7, HoChiMinh City, Vietnam)
September 2024:
14 - 15: Bruges Beer Festival 2024 (Bruges, Belgium)
News Articles
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Canada: Barley crop estimate remains at 7.87 mln tonnes
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Barley harvest finished under less than ideal conditions across North America. In certain regions there are small pockets of pre-germ barley, but this is
...More info on site
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USA, IN: More Brewing Co. to break ground on new brewery on October 30
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The owners of Illinois-based More Brewing Co. will join officials from the city of Fort Wayne on Monday, October 30 to break ground on their new restaurant and brewery at the city’s North River site, the Inside Indiana Business reported.
The $6 million project will be the first to be built at the site of a former OmniSource metal recycling plant just north of the city’s riverfront space.
Plans for the two-story, 16,000-square-foot building were first announced in August 2022. Co-owner Sunny Patel said at the time that the goal was to open the facility in conjunction with the completion of the second phase of the Riverfront Fort Wayne project.
Last month, the city broke ground on Riverfront Open Space Phase IIb, a $40 million project is designed to create expanded public space along the St. Mary’s River, and is slated to take two years to complete.
The groundbreaking on the More Brewing facility is scheduled for 1 p.m. on Monday, October 30. Mayor Tom Henry and Fort Wayne Redevelopment Executive Director Jonathan Leist are expected to attend.
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USA, MI: Hall of Famer Sammy Hagar launches Red Rocker Brewing Co. out of Detroit
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He’s a Rock and Roll Hall of Famer who has sold an obscene number of records and has more than one successful liquor company under his belt, and now American rock singer and songwriter Sammy Hagar is in the beer business by way of a Detroit-based brewery, The Detroit News reported on October 27.
Red Rocker Brewing Co. made its debut with the release of Red Rocker Lager, an easy-drinking Mexican-style beer that was feted at Hagar’s concert in Detroit on October 23. The sold-out Fillmore show for Sammy Hagar and the Circle – which features fellow Hall of Famer and his former Van Halen bandmate Michael Anthony on bass, Grammy Award-winning drummer Jason Bonham and guitarist Vic Johnson – marked the first time that fans could taste the beer, which clocks in at a mild 4.3% alcohol by volume.
They did more than taste it. Fans purchased 400 cases of the 16-ounce cans of Red Rocker Lager, totaling 9,600 cans of beer, according to a press release. That’s quite the statement, given that the Fillmore holds just fewer than 3,000 people. If those numbers are true, that means each fan in attendance ordered three tallboys that night, on average. If you’ve
...More info on site
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Canada, BC: Buffalo Rouge Brewing holds grand opening in Kelowna
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Buffalo Rouge Brewing held its grand opening in Kelowna on Saturday, Oct. 28, the Penticton Western News reported.
To celebrate their grand opening, they were open from 11 a.m. to 11 p.m. with a variety of live music throughout the day by Nomwan and Hannah, Dan Tait, and Jackfish Narrows.
The brewery, which features their own beers, guest taps, and collaborations, also serves fully vegan food. For the grand opening, on top of their menu, they brought back their carrot dog and corn (carrot) dog as well as pulled pork (jackfruit) sliders, deep fried pickles, pumpkin pie mini donuts, and pumpkin chocolate.
They also had additional activities and prizes throughout the day and were able to extend their patio to allow more people to attend.
Owners Liam Mitchell and Crystal Cain attained the property on Aug. 1, 2022 and opened it just under a year later, on July 29, 2023, becoming the Central Okanagan’s 23rd brewery.
Buffalo Rouge Brewing is located at 105-1111 Gordon Drive.
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USA, NM: ReSource Brewing closes down its business after just three years in industry
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New Mexico’s craft brewery ReSource Brewing has closed down its business and taproom after just three years in the industry, The Drinks Business reported on October 30.
The brewery, based in the Northeast Heights of Albuquerque, has sold its equipment and space to Brew Lab 101 which will take over the venue and reopen as an offsite taproom.
Speaking to Dark Side Brew Crew during an interview revealing reasons for exiting the sector, ReSource Brewery co-owner Shawn Wright said that plans for the brewery had been to differentiate and create a livelihood that was charitable, but admitted that the business needed more attention than was possible to give at this time.
Wright explained: “We were going to promote different charities, shine a light on different nonprofits. We wanted to do things, not necessarily, like everyone else.”
He stated that he and his wife Stefanie who shared co-ownership “made the decision in the very beginning that if we ever had to deviate from that plan to make this a success, we’d have to exit”.
According to Wright, the local community were advocates of the venture, but the business would have needed to expand and grow as a logical next step – a move he said was
...More info on site
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USA, OH: Third Eye Brewing getting ready to launch Hamilton location
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The first thing patrons of Third Eye Brewing in Hamilton will see as they walk through the front doors is a large-scale mural by David Uy, WCPO reported on October 30.
Uy, of David Jonathan Creative, created the 16-foot-by-16-foot mural behind the bar at the Third Eye Sharonville location, and he has brought the same vibe ― pop art graffiti style ― on a wall several times larger.
Folded in the large mural are things that can be seen at the original Third Eye location, and some new stuff.
But patrons will need to wait until next month for the Hamilton location to open, and co-owner Tom Collins said they’re just waiting for inspections to be completed, and knock out a few punch list items.
The beer’s been brewed. The tap system is nearly installed. The furnishings should come in any day now.
When the final inspections are complete, Collins and his co-owner Tom Shaefer can then announce an opening day. So for now, they’ll just say they’re opening next month, and Collins said that “it probably will be in the middle of the month.”
“We’re getting there,” he said. “We’re getting down to the final finishing touches.”
Third Eye Brewing has been brewing beer for the
...More info on site
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USA, AZ: Borderlands Brewing buys out Dillinger Brewing Company
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The Borderlands Brewing Company is acquiring the rights to Dillinger Brewing Company's intellectual property and brands, KGUN 9 reported on October 31.
Eric Sipe and Aaron Long founded Dillinger Brewing about seven years ago, brewing popular options for the community like the Tiki Party Sour, Mangonada Sour and Roadrunner Red. Borderlands Brewing is making it clear its committed to continuing on the legacy Dillinger has crafted.
These two breweries shared the joint statement:
“Taking this legacy forward, Borderlands Brewing prides itself on being a pioneer in another significant aspect of the brewing industry: our all-female brewing facility, helmed by Ayla Kapahi and Savanna Saldate. Their leadership, combined with our team's dedication, ensures that we craft beers that not only taste exceptional but also represent a broader spectrum of voices and influences.
“We want to convey our profound gratitude to Eric and Aaron. Their vision, determination, and indelible impact on Tucson's beer scene is irreplaceable. As custodians of the Dillinger legacy, we pledge to nurture and enrich it, blending in the craft, innovation, and passion that both breweries stand for.
“To the Tucson community: Rest assured, as stewards of the cherished Dillinger legacy, we are dedicated to ensuring that the flavors and experiences you've come to
...More info on site
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USA, GA: Pontoon Brewing preparing to close its doors because of ‘prohibition-era’ law holding it back
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A Sandy Springs brewery is preparing to close its doors and they say it’s because a “prohibition-era” law is holding them back, WSB-TV reported on October 28.
Pontoon Brewing can’t sell its product directly to retailers like bars, restaurants, or stores. Instead, they have to go through a distributor.
The owner said that in a business with very thin margins, the distributor’s slice of the profit makes things tough to stay open.
“Right now, a brewer like me cannot sell their product directly to a local bar just down the street,” Pontoon Brewing CEO Sean O’Keefe said. “We are always very transparent that the margins in craft beer are thin.”
But he says Georgia’s three-tiered system makes those margins thinner.
It was designed after prohibition to regulate the market by requiring brewers to sell to wholesalers who sell to retailers, even if the final stop is a bar across the street.
The Georgia Beer Wholesaler Association says the system works and that changing the rules “undermines a system that has safeguards to protect our youth, provides a consistent revenue stream to state and local government.
Despite growing every year, a legal battle between Pontoon and its out-of-state distributor has made things even worse for the brewery.
“After the
...More info on site
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USA, VA: Richmond’s Isley Brewing Company announces closure
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The crowd was sparse Sunday afternoon as Isley Brewing Company — one of the longest running breweries in Scott’s Addition — moved toward its final last call on October 29, VPM News reported.
The brewery, located along Summit Avenue, announced its closure on social media earlier that day.
A couple sat near the door with their dog, another patron sat at the bar and others filed in.
“Well, we did find out today that they were closing and it's our favorite beer — well my favorite beer — which is the Choosy Mother,” Allen McGaughey said. “That's what brought us back, to reminisce on the time we’ve spent here.”
He said the peanut butter porter was among his favorite drinks from the breweries in Scott’s Addition. Brittany McGaughey, his partner, agreed.
She added she was surprised that there weren’t more people grabbing a final draft.
“There were a lot of Facebook comments that said like, ‘Please tell me it’s not true,’ ‘Where are you moving to?’” she said.
The pandemic changed real estate across the country — and in the commonwealth. In the third quarter of calendar year 2019, Richmond’s retail vacancy rate was at 5.5%, according to data from Virginia Realtors. In the third quarter of
...More info on site
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World: Global brewers set to benefit from better profit margins next year, analysts say
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Global brewers like Anheuser-Busch InBev are set to benefit from better profit margins next year, analysts and investors say, because price hikes are unlikely
...More info on site
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World: AB InBev reports better-than-expected revenue in its third quarter
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AB InBev has reported better-than-expected revenue in its third quarter, despite consumers buying less of its beer.
The Belgian maker, known for brands such as
...More info on site
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World: Carlsberg reports third-quarter sales broadly in line with expectations, warns of weaker consumer sentiment in Europe and Southeast Asia
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Danish brewer Carlsberg on October 31 reported third-quarter sales broadly in line with expectations but warned that weak consumer sentiment in Europe and Southeast
...More info on site
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Brazil: Ambev sees 19.3% jump in third-quarter net profit
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Brazilian brewer Ambev SA on October 31 reported a 19.3% jump in net profit on an organic basis, lifting its shares as lower aluminum
...More info on site
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China: Tsingtao’s third-quarter earnings miss analysts’ estimates
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Narrow-moat Tsingtao Brewery’s third-quarter earnings missed analysts’ estimates on revenue and net profit. Sales declined year on year but gross and net profit still
...More info on site
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Denmark & Russia: Carlsberg cuts ties with 'stolen' Russian business
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Carlsberg has announced it has terminated its business in Russia after the Kremlin took control of its operations in the country, BBC reported on
...More info on site
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China: Tsingtao sees its stock price plummet after video of employee urinating in brewery tank went viral
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Tsingtao, a leading Chinese beer manufacturer, has seen its stock price plummet after a video allegedly showing an employee urinating into a tank at
...More info on site
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EU: 2023-24 barley crop lower than five-year average
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The European Commission updated its 2023-24 grain production numbers for its 27 member states last week with soft wheat output increased slightly compared to
...More info on site
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Vietnam: Sabeco sees post-tax profit plunge 23% yoy in Q3
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Brewer Sabeco saw its post-tax profit plunge 23% year-on-year in the third quarter, landing at VND1.07 trillion ($43.54 million) so far, due to rising
...More info on site
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Australia: Late rains help boost barley crop forecast to 11 mln tonnes
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Barley harvest is advancing in New South Wales and Western Australia under favourable weather, with first quality feedback favourable, RMI Analytics said in late
...More info on site
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Japan: Japan brewers may offer wider variety of products following changes in liquor tax rules
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The Japanese beer market may start seeing a wider variety of products following changes in the country's new liquor tax rules, which went into effect at the beginning of October, the Nikkei Asia reported on October 28.
Japan employs an unusual taxation system for beer, in which the tax rate falls into three categories, with the highest levies on standard beer and lower ones on low-malt beer, called happoshu, and no-malt beverages, known as third-tier beer or "new genre" beer. The system has led to intense competition in the lower-taxed categories.
Starting this month, Japan lowered the tax on standard beer from 70 yen to 63.35 yen per 350 milliliters, while raising the levy on new genre beer from 37.8 yen to 46.99 yen, matching that of low-malt happoshu, which remained unchanged, according to the Ministry of Finance.
Asahi Group Holdings has emerged a beneficiary of the tax changes due to its product mix, according to Makoto Morita of Daiwa Securities. Standard beers accounted for around 60% of the company's beer sales volume in 2022 compared with only 25% for new genre brews.
In contrast, new genre beer accounted for above 40% of beer sales volume at Kirin Holdings and around 70% at Suntory
...More info on site
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Hungary: Asahi’s Hungarian beer business to receive biggest investment in its history
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Asahi’s Hungarian beer business Dreher Breweries is about to receive the biggest investment in its history as part of a decade-long plan, The Drinks Business reported on October 30.
Dreher Breweries, which was absorbed by Asahi in 2017 after AB InBev acquired SABMiller back in 2016 and was forced to divest a portion of its central and eastern European interests, will undergo investment and expansion over the next 10 years, according to local sources.
The first phase of the HUF100 billion (€261 million) investment will reportedly begin in January 2024 and will continue until 2026. This will include a new energy unit being built and the fermentation and conditioning tanks being replaced. This stage is estimated to require HUF30 billion (€78 million) in financing.
Dreher Breweries, which is 170 years old and based in Kőbánya (the 10th district in Budapest), will then see its technology replaced to meet sustainability targets and also see its storage capacity expanded.
Local reports have highlighted that 30% of the funds have already been secured by Asahi and such a development on a similar scale is unprecedented in the history of beer production in Hungary.
József Bai, the company’s finance director, stated that the company wanted to make this a
...More info on site
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Thailand: Energy drink maker Carabao to mount full-on challenge to country’s dominating beer brands
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Thai energy drink maker Carabao Group is preparing to mount a full-on challenge to the country's two dominant beer brands, Singha and Chang, as changing consumer tastes and the easing of brewing restrictions create an opportunity to break into the market, the Nikkei Asia reported on October 31.
"Carabao will be known as Thailand's third largest beer company," Sathien Setthasit, the company's CEO, said in an interview with Nikkei.
The company aims to capture 10% of the domestic market in 2024 and increase that to 20% within three to five years.
Carabao will invest up to 6 billion baht ($167 million) to install brewing equipment at group company's factory in central Thailand's Chai Nat. It plans to first secure a production capacity of 200 million liters per year, which will be increased to 400 million litres depending on market reaction.
The company, whose flagship Carabao Dang beverage is the second most popular energy drink in Thailand, aims to reach 40 billion baht in annual beer sales in the next three to five years.
In the battle of the labels, Carabao's water buffalo logo will take on Chang's elephants and Singha's mystical golden lion.
Carabao has been eyeing a full-scale entry into the beer market for more
...More info on site
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Europe: Heineken appoints new President Europe from January 2024
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Heineken N.V. (HEINEKEN) announced on November 1 that Glenn Caton will succeed Soren Hagh as President Europe from 1 January 2024.
Glenn joins HEINEKEN from Mondelez International, where he is currently Senior Vice President Global Commerce and was previously President for South-East Asia and President of Northern Europe. Glenn will join the Executive Team reporting to Dolf van den Brink, HEINEKEN’s CEO and Chairman of the Executive Board.
Soren Hagh will leave HEINEKEN on 31 December 2023 to take up a new role which will be announced shortly, the company said.
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