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E-Malt.com Newsletter 45a
November 06 - November 08, 2023
Quote of the Week
Nothing quenches the thirst like a wheat beer, or sharpens the appetite like an India pale ale. Nothing goes as well with seafood as a dry porter or stout, or accompanies chocolate like an imperial stout. Nothing soothes like a barley wine. These are just a few of the specialty styles of beer.
Michael Jackson
Currency Rates
Base Currency: US Dollar
on November 08, 2023 |
Base Currency: Canadian Dollar
on November 08, 2023 |
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1 USD = 0.9350 EUR
1 USD = 0.8123 GBP
1 USD = 1.3741 CAD
1 USD = 1.5536 AUD
1 USD = 150.3620 JPY
1 USD = 4.8758 BRL
1 USD = 92.2172 RUB
1 USD = 7.2795 CNY
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1 CAD = 0.7276 USD
1 CAD = 0.5911 GBP
1 CAD = 0.6803 EUR
1 CAD = 1.1305 AUD
1 CAD = 109.4090 JPY
1 CAD = 3.5478 BRL
1 CAD = 67.1005 RUB
1 CAD = 5.2968 CNY
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Currency Rates Chart
Equities of the Largest Breweries
USA: 40% of Bud Light drinkers willing to return, AB InBev CEO says
...Click here
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USA, AZ: Borderlands Brewing Company announces acquisition of Dillinger Brewing
...Click here
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USA, TN: Atomic City Brewing Co. now open in Oak Ridge
...Click here
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USA, MA: Epigram Brew Co. finally opens its doors in Tyngsboro
...Click here
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USA, OH: Yellow Springs Brewery to hold grand opening on November 15
...Click here
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USA, MN: Intuition Brewing opens in downtown Willmar
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USA, CT: Thimble Island Brewing Company to open brewpub in Old Saybrook in January
...Click here
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Canada, MB: Black Wheat Brewing for sale after two years of operations
...Click here
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USA, CO: Dry Dock Brewing to close its massive Aurora facility next year
...Click here
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The Philippines: San Miguel Brewery Inc. reports 20.2% jump in nine-month profits
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Australia: Total grain exports record in 2022-23 crop year but barley shipments decline
...Click here
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Japan: Suntory Spirits to increase whisky output to meet growing global demand
...Click here
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Uganda: Nile Breweries launches state-of-the-art barley cleaning and drying plant in Kween District
...Click here
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South Africa: Beer Association of South Africa calls for beer to be sold at grocery shops
...Click here
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India: Beer company Bira 91 reports 15% rise in operating income
...Click here
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South Korea: Cass beer successfully retains position of leading brand in Q3
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The Philippines: San Miguel Brewery president Bobby Huang passes away
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Graph of the Week
Table of the Week
EU Barley Supply & Demand Forecast
Prices Evolution
Barley Prices
Theoretical Malt Prices
These Days in Business History
06 November
1851 - Charles H Dow was born, co-founded Dow Jones/1st editor of Wall St Journal
1923 - Col Jacob Schick patents 1st electric shaver
07 November
1865 - London Gazette, oldest surviving journal, is founded
1867 - Marie Curie is born, French Scientist, discovered radium, Nobel 1903, 1911
1929 - The stock market sludges through a day of murky panic, as 2.4 million shares trade in the first half-hour, one of the heaviest openings yet on record
08 November
1789 - Bourbon Whiskey, 1st distilled from corn (by Elijah Craig, Bourbon Ky)
1793 - Louvre opens in Paris
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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USA: 40% of Bud Light drinkers willing to return, AB InBev CEO says
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Bud Light’s April collaboration with a transgender influencer is still affecting sales, Anheuser-Busch InBev leadership told investors during their most recent earnings call, the St. Louis Post-Dispatch reported on November 6.
But a $1 billion stock buyback and new UFC sponsorship deal is boosting the company’s outlook overall, they said.
AB InBev announced the buyback program last week, which will take place within the next 12 months. Fernando Tennenbaum, CFO, said this will begin “almost immediately.”
During its third quarter, AB InBev global revenue increased 5% to $15.6 billion, though U.S. revenue declined more than 13% as a result of continued lower Bud Light sales, said CEO Michel Doukeris. He said he is confident that the company is bouncing back.
“I don’t think that we are at a new normal yet, but we have a good grip on what we need to do and how we are proceeding from here,” he said last week.
Doukeris said a recent survey found that over 40% of lost Bud Light drinkers said they are ready and now more open to returning to drinking Bud Light.
Bud Light saw a significant drop in sales this year as consumers called for a boycott of the brand following a collaboration with transgender
...More info on site
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USA, AZ: Borderlands Brewing Company announces acquisition of Dillinger Brewing
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Borderlands Brewing Company has acquired Dillinger Brewing in a deal that sees one Arizona beer business support the legacy of another, The Drinks Business reported on November 3.
The news, which was revealed via Tucson Foodie will involve Borderlands Brewing taking over the brewing of Dillinger’s recipes and providing beer to all of its distributors.
Borderlands Brewing.owner Es Teran said: “This development signals a strategic enhancement for us, but more importantly, it underscores our commitment to safeguarding and nurturing a cherished local legend in the beer industry.”
Teran revealed plans to support the brand further by listing Dillinger beers on tap at Borderlands Brewing taproom locations along with canned products.
For seven years, Dillinger Brewing was owned and operated by duo Eric Sipe and Aaron Long and, during that time, they rolled out popular brews including: Tiki Party Sour, Mangonada Sour and Roadrunner Red.
Teran explained: “Dillinger Brewing was more than just a brewery; it was a testament to passion, innovation, and community integration,” and noted how Sipe and Long’s reputation within the local area was something to be revered and continued.
Speaking of the duo, Teran added: “Their endeavors, both in the realm of brewing and in their active participation in Tucson’s socio-cultural fabric, have
...More info on site
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USA, TN: Atomic City Brewing Co. now open in Oak Ridge
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The new brewery and mini-golf attraction from Gypsy Circus Cidery is now open in Oak Ridge, the Oak Ridger reported on November 3.
Atomic City Brewing Co. is the first brewery in Oak Ridge. It's a part of The Greens, a mini-golf course operated by Gypsy Circus. There are actually three courses to play on, and several other games to play including giant chess and bocce ball.
There are four beers available from Atomic City Brewing Co.: Lit Lite, Y-12, Let the Sirens Ring and Human Shadows of Death. It's brewed exclusively onsite.
The Greens by Gypsy Circus opened Nov. 2. It is open 4-10 p.m. Thursday and Friday, 10 a.m-10 p.m. Saturday and 11 a.m.-7 p.m. Sunday.
Gypsy Circus Cider was started in 2016 in Kingsport, Tennessee, by Aaron and Stephanie Carson.
"My wife's family is from Knoxville. I'm from East Tennessee originally," co-owner Aaron Carson said. "My grandfather is from (Oak Ridge). So to me, it is more of that connection that we have from a family standpoint."
Carson has converted the former mini golf location at 201 Tuskegee Drive to make room for 150 people to drink, eat and play.
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USA, MA: Epigram Brew Co. finally opens its doors in Tyngsboro
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Nearly two years after they asked the town of Tyngsboro to give them license to do so, the owners and brewers of Epigram Brew Co. have finally opened the doors on their new restaurant and craft brewery, the Boston Herald reported on November 4.
Located along Middlesex Street just south of the New Hampshire border, the independent brewery currently offers nine varieties of beer, all made in house, and brings South Shore-style bar pizza north of Boston and into the Merrimack Valley.
Epigram owner Jeff White told the Herald that a few years ago he noticed a “hole in the market,” in that many of the breweries he visited had excellent beer or really good food or a great atmosphere, but never all three at the same time.
Plus, none were anywhere near close enough to his house.
“I was, selfishly, thinking I wanted a brewery in my neighborhood, and I noticed a lot of breweries only do one of those things right,” he told the Herald. “But then, when this building went vacant, it was kind of like an eye opening for me and the lightbulb went off. This is a perfect location. I could just see it.”
“So we’ve knocked it out of
...More info on site
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USA, OH: Yellow Springs Brewery to hold grand opening on November 15
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About three months ago, Yellow Springs Brewery announced that they would be taking over the space at 2855 Indianola Ave., but their opening date was still up in the air.
Until now.
According to their social media, Yellow Springs Brewery will have a Grand Opening on Wednesday, November 15th, with food and drinks. They still have more details and information to come, 614Now reported.
Yellow Springs Brewery first opened in 2013 and has been a hotspot for craft beer drinkers, many of whom take the drive to Yellow Springs just for these “consistent, flawless, high-quality product — award-winning beers that are clever new takes on familiar styles,” according to their website.
“Known for great tasting beers and strong brand authenticity, Yellow Springs Brewery has built a following of beer lovers in the Dayton and Columbus area that has grown year after year,” a statement reads. “Considering that a large number of weekend customers in their Yellow Springs taproom come from Columbus, an extensive effort has been made to send more products into the Columbus area over the last couple of years.”
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USA, MN: Intuition Brewing opens in downtown Willmar
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A lot of brewing comes from gut feelings. Knowing how long to brew, what ingredients to use and even when to open a new brewery, the West Central Tribune reported on November 4.
For Micah Larson and Liz Heimer, co-owners of Intuition Brewing, this gut feeling is what led them to open a new brewery in downtown Willmar — and even gave the business its name.
“We really trust the universe with opening these doors for us and letting us know what path to go down. It has been really great trusting our gut. And I think you utilize your gut for making the beers,” Heimer said.
Intuition Brewing will be moving into the space that the Foxhole Brewhouse is vacating on Fourth Street Southwest in Willmar. Intuition will set up shop beginning in December, and expects to offer its first few beers around the end of the year.
Foxhole will continue operating out of the location until its new building on Highway 71 is ready to be occupied.
“The nice part is it is already set up for a brewery, so that gives us a leg up that way. I have been to Foxhole since it opened. I think it is a nice asset
...More info on site
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USA, CT: Thimble Island Brewing Company to open brewpub in Old Saybrook in January
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Locally brewed beer, fresh prepared “really good food” and a friendly, family-oriented dining experience is coming to Old Saybrook, the owner of this brewpub says.
According to The Register Citizen, Thimble Island Brewing Company, opening at 75 Main St. in January, will offer food and drink and be geared toward families, much like the company’s flagship location in Branford.
“A lot of our folks are typically more family oriented and Saybrook is kind of looking for that,” said Justin Gargano, president and CEO of Thimble Island Brewing Company.
Most of the patrons coming in, he added, “they come from a sports event, or they just want to do something on a Thursday or Friday night.”
The brewery will occupy the former Denali building downtown, which was most recently the home of Gargano Pasta & Italian Market, owned by Gargano’s brother, Joel Gargano.
The timing is right for a brewery there, First Selectman Carl Fortuna said, adding that residents have been hankering for a spot just like this since he was elected in 2011.
“Since I’ve been in office, for 12 years, people have repeatedly asked me if, somehow, we could get a brewpub in town,” he said.
Fortuna said the new business will
...More info on site
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Canada, MB: Black Wheat Brewing for sale after two years of operations
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Black Wheat Brewing is up for sale after two years of operations in Brandon, the Brandon Sun reported on November 4.
“Black Wheat Brewery is listed for $1.5 million. That is the asking price for the business along with the equipment,” Munn Group at Royal LePage partner Zach Munn told the Sun. “There is the potential that the building could be purchased separately.”
Co-owner Ted Birch declined to comment on the sale of the business. Munn said the brewery’s financial details will be disclosed to qualified buyers who have signed a non-disclosure agreement, underscoring the importance of confidentiality in the transaction.
The move comes at a time when the brewing industry is facing significant cost pressures, Manitoba Craft Brewers Association executive Tim Hudek told the Sun.
“A lot of costs have gone up dramatically in the last couple of years. I mean, there’s a myriad of reasons for that,” Hudek said. “Factors such as inflation and the war in Ukraine are contributing to these cost increases.”
Hudek also said that it is harder for operators to bring their prices down because their products tend to be purer than those sold by national brands, as less adjuncts are used.
Overall, he acknowledged, the industry is witnessing a
...More info on site
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USA, CO: Dry Dock Brewing to close its massive Aurora facility next year
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Dry Dock Brewing, which opened a massive, 30,000-square-foot production brewery a decade ago on Tower Road in Aurora, announced on November 3 that it will close the facility next year and shift the majority of its beer-making and packaging operations to Denver’s Great Divide Brewing, The Denver Post reported.
The brewery, known for its Apricot Blonde, will maintain its original taproom at 15120 E. Hampden Ave., however, where it runs a small-batch brewhouse next to its homebrew store.
“The whole thing is bittersweet. We built this big beautiful building and filled it … from one end to the other,” said Kevin DeLange, who co-founded Dry Dock in 2005 with Michelle Reding. But I’m also very excited that the brand is still strong. And I’m looking forward to interacting with customers again (at the original facility), making beers and working at the homebrew shop.”
Great Divide owner Brian Dunn told The Denver Post that his brewery plans to make 7,500 barrels of beer for Dry Dock in 2024. Eventually, Great Divide will also take on a larger role when it comes to the sales and marketing of Dry Dock’s beers. But Dunn pointed out that the partnership isn’t a merger or an acquisition and
...More info on site
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 Ireland: Malt imports jump significantly this year
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Imports of malt into Ireland have jumped significantly so far this year. From January to August this year, over 18,400t of malt are estimated
...More info on site
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The Philippines: San Miguel Brewery Inc. reports 20.2% jump in nine-month profits
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San Miguel Brewery Inc. (SMB), Phillippines’ biggest beer producer, saw profits jump 20.2 percent to P19.4 billion in the first nine months of the
...More info on site
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Australia: Total grain exports record in 2022-23 crop year but barley shipments decline
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The 2022-23 crop year in Australia concluded at the end of September, and the final pieces of the season’s record grain export program were
...More info on site
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Japan: Suntory Spirits to increase whisky output to meet growing global demand
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Premium Japanese whisky supplier Suntory Spirits said output could increase in 2027 as it expands capacity to meet growing global demand, The Japan Times reported on November 6.
Suntory Spirits has begun two-year renovations at its Yamazaki distillery in Osaka Prefecture and its Hakushu distillery in Yamanashi Prefecture, at a cost of about ¥10 billion ($66 million), President Nobuhiro Torii said in an interview. The company has invested more than ¥60 billion in increasing production capacity over the past decade, he said, including expanding storage facilities.
Since it takes time for whisky to mature, Torii — the great-grandson of Suntory founder Shinjiro Torii — said the maker "may be able to ship out a little more” only by around 2027.
Suntory, which marks the 100th anniversary of its whisky business this year, is "keeping its foot on the gas pedal” to increase production, he added.
Sotheby’s has said Suntory’s Yamazaki 55 Years Old long-aged single malt whisky has achieved prices of up to $780,000 at auction, and surpassed Karuizawa 1960 as the most expensive Japanese whisky — symbolizing the popularity of the beverage in overseas markets. The auction house also called Japanese whisky the second most valuable whisky category on the secondary market.
Suntory’s expanded
...More info on site
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Uganda: Nile Breweries launches state-of-the-art barley cleaning and drying plant in Kween District
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Uganda’s Nile Breweries has launched a Shs4bn state-of-the-art barley cleaning and drying plant in Cheminy, Kween District, it said in a press release dated November 7.
The state-of-the-art plant, strategically located in the heart of Sebei region, will play a pivotal role in advancing the quality and sustainability of barley production in the region.
The drying and cleaning plant will ensure that over 5,000 barley farmers in Kween, Kapchorwa and Bukwo Districts have access to a safe storage facility to maintain the quality of their barley and mitigate post-harvest loss.
Adu Rando, the managing director, Nile Breweries, said that the plant will provide a storage facility to over 5,000 barley farmers in the Sebei region.
“The drying and cleaning plant has the capacity to store and process over 250 metric tonnes of barley daily,” he noted “Its opening reaffirms our commitment to supporting our local farmers to maximize their yields and reduce post-harvest losses while also ensuring quality control and convenience.”
According to Adu, Nile Breweries buys over 8,000 metric tons of barley from farmers in Sebei region annually.
Currently, farmers have been practicing open-air; they spread their barley out in the sun for several hours and days which has led to loss of the quality
...More info on site
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South Africa: Beer Association of South Africa calls for beer to be sold at grocery shops
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With more than 21 000 signatures on its petition, the Beer Association of South Africa (BASA) is calling for beer to be sold at grocery shops, but it’s unclear if this would have any impact, IOL reported on November 6.
The National Liquor Act prohibits the sale of alcohol other than natural wine at grocery stores and supermarkets.
BASA says this needs to change as it limits consumer choice and creates an uneven playing field for passionate brewers.
Patricia Pillay, chief executive officer of BASA, said beer is a part of South African culture and tradition, and it is also the drink of choice for a majority of South Africans. However, current national and provincial legislation restricts a significant aspect of consumer choice: the absence of beer, including unique craft beers, from regular store shelves.
“BASA is committed to continuing to work with the government and traders to promote safe and responsible drinking where beers are sold. Although the campaign has only been running for less than two weeks, we have received an overwhelming response.
“Already, close to 22 000 people have signed it. It shows that South Africans want expanded consumer choice. Many comments on social media have also expressed pride in the quality
...More info on site
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India: Beer company Bira 91 reports 15% rise in operating income
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Delhi-based beer company Bira 91 reported a 15% rise in operating revenue for FY23, hitting ₹824.3 crore ($111 million), and a total revenue, including other income, of ₹848.7 crore ($114 million). The increase marks significant progress towards the ₹1,000 crore milestone. Despite the growth, the firm's net loss expanded by 12% due to higher excise duty, procurement costs, and employee expenses. Nevertheless, the EBITDA margin showed improvements, Investing.com reported on November 6.
The company, founded by Ankur Jain in 2015 and now recognized as India's fourth-largest beer company, has a presence in over 550 towns and cities across 18 countries. Bira 91 maintains a production capacity of 250 million liters and employs a workforce of approximately 897 people. It competes with established players like Diageo, United Breweries, Pernod Ricard India, and startups such as White Owl Brewery and Simba.
In recent years, Bira 91 has broadened its product line beyond alcoholic beverages. Since 2020, the company has included non-alcoholic drinks in its portfolio and expanded its brand stores through acquisitions. The strategic diversification seems to be part of the company's efforts to solidify its market position ahead of a planned IPO.
To fuel its growth and expansion efforts, Bira 91 raised over $263
...More info on site
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South Korea: Cass beer successfully retains position of leading brand in Q3
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In the third quarter of this year, OB’s steady-seller beer, Cass, successfully retained its position as the leading brand in the South Korean home beer market, the Business Korea reported on November 6.
According to the food industry statistics information from the Korea Agro-Fisheries & Food Trade Corporation on Nov. 5, the retail store sales of Cass from July to September reached 428.12 billion won (US$326.31 million), establishing itself as the top beer brand in terms of sales during the period. Cass had a 37.89 percent share of the retail store market as of the end of September, which was slightly lower than the 38.89 percent share during the same period last year.
In second place was HiteJinro’s Terra, while Lotte Asahi Liquor’s Asahi secured the third spot. Terra’s retail store sales for the same period were approximately 120.57 billion won, similar to the previous year. However, its market share dropped to 10.67 percent, a decrease of 3.86 percentage points.
Asahi recorded sales of 84.12 billion won with a market share of 7.44 percent in the third quarter. Asahi’s retail store sales ranking was outside the top 10 in the same period last year, but it climbed to 9th place in March and
...More info on site
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The Philippines: San Miguel Brewery president Bobby Huang passes away
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San Miguel Brewery president Roberto “Bobby” Huang passed away on Saturday, November 4, the Rappler reported.
San Miguel Corporation president and chief executive officer Ramon Ang paid tribute to Huang in a Facebook post on Monday, November 6.
“More than a colleague, Bobby Huang was a brother to me. We were set to celebrate our 25th year in San Miguel Corporation together. It’s going to be hard without him and his absence will be truly felt,” Ang said.
“Right now, our thoughts are with his family. Your grief is shared by every one of us who had the privilege of knowing him. We’re going to keep his memory alive by living up to the values he held dear, keeping the sense of community he helped build, and following the path he charted for San Miguel Brewery.”
In a stock exchange filing, San Miguel Food and Beverage said Huang died in the evening on November 4. His cause of death was not disclosed.
Huang had been the chief operating officer of San Miguel Food and Beverage’s beer division since 2018.
He was previously president of Cosmos Bottling Corporation and president of Coca-Cola Beverages Philippines.
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