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E-Malt.com Newsletter 48a
November 27 - November 29, 2023
Quote of the Week
With hekt (beer) the Ka (spirit) is kept in balance with with the liver and blood... Hekt is the liquid of happy blood and body.
Ancient Egyptian Physician
Currency Rates
Base Currency: US Dollar
on November 29, 2023 |
Base Currency: Canadian Dollar
on November 29, 2023 |
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1 USD = 0.9117 EUR
1 USD = 0.7902 GBP
1 USD = 1.3589 CAD
1 USD = 1.5086 AUD
1 USD = 148.0510 JPY
1 USD = 4.8852 BRL
1 USD = 88.9016 RUB
1 USD = 7.0819 CNY
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1 CAD = 0.7358 USD
1 CAD = 0.5815 GBP
1 CAD = 0.6709 EUR
1 CAD = 1.1101 AUD
1 CAD = 108.9380 JPY
1 CAD = 3.5946 BRL
1 CAD = 65.4151 RUB
1 CAD = 5.2110 CNY
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Currency Rates Chart
Equities of the Largest Breweries
Canada, BC: B.C. craft breweries facing closure without support with COVID loan repayments
...Click here
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Canada: CMBTC publishes list of recommended malting barley varieties for 2024-25
...Click here
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USA, AR: Arkansas beer production continues to climb
...Click here
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USA, GA: AB InBev invests in Cartersville brewery to strengthen beyond beer and craft production capabilities
...Click here
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Canada: Feed barley prices drifting lower despite limited supplies
...Click here
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USA, MI: Salty Pecker Brewing Co. closing after this week
...Click here
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Japan: Kirin Holdings outlines plans of ‘aggressive measures’ across beer and sugar-free innovations
...Click here
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Malaysia: Heineken Malaysia posts decrease in net profit, revenue in Q3 to September 30
...Click here
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Japan: Japanese brewer Asahi to sell EUR1.09 bln in shares to overseas investors
...Click here
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UK: AHDB launches its Recommended Lists for cereals and oilseeds 2024/25
...Click here
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UK: Society of Independent Brewers calling for expanding limit on ‘alcohol-free’ beer
...Click here
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Nigeria: Guinness Nigeria’s new Managing Director its first Nigerian CEO since 2015
...Click here
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UK: Value at rare whiskies at auctions records steepest fall in a decade
...Click here
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India: United Breweries launches Heineken Silver Draught beer in India
...Click here
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Graph of the Week
Table of the Week
EU & UK Malt Production Capacity
Prices Evolution
Barley Prices
Theoretical Malt Prices
These Days in Business History
27 November
1895 - Alfred Nobel establishes Nobel Prize
1962 - 1st test flight of the Boeing 727 takes place
28 November
1895 - The Chicago Times-Herald sponsors the first automobile race in U.S. history. The winner's average speed clocks in at roughly 7 mph
1946 - 1st Polaroid camera sold
29 November
1775 - Sir James Jay invents invisible ink
1877 - Thomas Edison demonstrates hand-cranked phonograph
1993 - CNN/fn, the financial network by Turner Enterprises, launched
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, BC: B.C. craft breweries facing closure without support with COVID loan repayments
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The industry association representing B.C. craft breweries says up to 15 per cent of its members could face closure next year, if they don’t get extensions on pandemic support loans, Global News reported on November 28.
The warning comes as the Jan. 18 repayment deadline looms for federal Canada Emergency Business Account loan holders seeking partial forgiveness. The federal program offered up to C$60,000 in interest-free loans to help businesses and non-profits survive COVID-19 slowdowns and shutdowns.
Ken Beattie, executive director of the B.C. Craft Brewers Guild, said that like other parts of the hospitality industry, the craft beer sector still hasn’t fully recovered from the pandemic.
The once-booming industry, which has grown to 240 breweries in recent years, is also facing surging costs, he said, and the deadline to repay federal loans may be the final straw for many.
“Man, it is super tough, because every cost, every input has increased … whether it be the barley, the hops, the packaging, the cans, fuel surcharges, distribution, absolutely everything has skyrocketed,” he said.
“There is a cash flow problem in the industry because of the increased costs, and you’re just layering on more challenge and more cashflow issues — you have to decide is it
...More info on site
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Canada: CMBTC publishes list of recommended malting barley varieties for 2024-25
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The Canadian Malting Barley Technical Centre (CMBTC) has published its 2024 – 2025 list of recommended malting barley varieties. The guide offers producers and industry insights into preferred varieties based on agronomics, quality and market demand.
The 2024-25 list contains five main varieties: AAC Synergy, CDC Copeland, AAC Connect, CDC Fraser and for the first time CDC Churchill.
As a top global exporter of malting barley and processed malt, Canada is recognized for its high-quality varieties and consistent performance in processing. Newer varieties such as AAC Connect and CDC Fraser are steadily gaining acceptance in the malting and brewing industries, although the process takes time, says Peter Watts, Managing Director at the CMBTC. “End users want assurance that any new variety introduced into their operations will align with their process and end-product. Brewers are very conscious of quality due to its direct impact on efficiencies and end-use characteristics including sensory attributes”.
“With improved agronomics and disease resistance, new varieties have proven themselves to be high performers in Canadian fields, driving increased area. But there must be matching supply and demand,” says Jon White, CMBTC Board chair. “It’s the classic chicken or egg scenario—insufficient supply makes it challenging to source and
...More info on site
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USA, AR: Arkansas beer production continues to climb
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Arkansas' beer production continues to climb, with the amount of beer made in the Natural State hitting record numbers once again for 2022 while the nation's craft industry saw growth slow, The Arkansas Democrat-Gazette reported on November 26.
According to figures provided by the Alcoholic Beverage Control Division of the Arkansas Department of Finance and Administration, Arkansas breweries produced 52,840 barrels of beer and hard seltzer products last year, up from 46,440 barrels of beer produced in 2021. That's an increase of just shy of 14% year-over-year over 2021's record year.
When converted to gallons, the state's brewers produced 1.64 million gallons of beer in 2022 compared to 1.44 million gallons for the year prior period. A barrel of beer contains 31 gallons.
"These numbers are really phenomenal for the craft beer market," Lacie Bray, co-founder of Ozark Beer Company in Rogers and president of the Arkansas Brewers Guild, said in a recent interview.
She noted nationally craft brewers have been facing inflationary pressures and production has been flat. In Arkansas, she said, brewers faced challenges in 2022 and into 2023 but beer makers in the Natural State overall seem to be faring well.
That said, she noted supply issues and climate concerns have made
...More info on site
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USA, GA: AB InBev invests in Cartersville brewery to strengthen beyond beer and craft production capabilities
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Anheuser-Busch InBev said it has spent $13 million this year on capital projects at its Cartersville Brewery, which is about 45 miles northwest of Atlanta, Food Dive reported on November 27.
The investments helped strengthen the brewery’s beyond beer and craft production capabilities, as well as upgrade infrastructure and equipment needed to help sustain the longevity of the facility.
While Anheuser-Busch receives most of its attention for brews such as Bud Light and Michelob Ultra, an increasingly important part of its future centers around its craft business and its beyond beer portfolio. Offerings in these two categories include Kona Big Wave for craft and hard seltzers, canned wines and canned cocktails for beyond. The investment in Carterville will help the brewer meet what is expected to be growing consumer demand for these beverages in the future.
In addition to production, the $13 million investment is going toward energy systems upgrades that will increase efficiency and reduce fuel usage. As food and beverage companies spend money to build new facilities or expand existing ones, a major focus of these investments is often centered around lowering their environmental footprint while saving money at the same time. Projects incorporating green goals have been announced recently
...More info on site
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Canada: Feed barley prices drifting lower despite limited supplies
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Feed barley prices have been drifting lower despite limited supplies of the crop, the Western Producer reported on November 25.
Agriculture Canada estimated total supply for 2023-24 at 8.75 million tonnes, down 17 percent from the previous year.
Yet prices have tumbled by about C$100 per tonne since the start of the calendar year.
“There are a number of factors which have contributed to the price moderation of feed barley,” Alberta Agriculture crop market analyst Neil Blue said in a recent article published on the government’s website.
Livestock feeders have gotten used to working with feed barley substitutes in recent years when barley was in short supply.
Cattle feeders in Lethbridge have been using feed wheat, milling wheat, oats and importing corn from the United States.
“Feeding imported corn has become common when price competitive,” he said.
Canada has imported 261,800 tonnes of U.S. corn in the current marketing year, more than five times the volume of the same period last year.
Strong export demand from China had also been propping up Canadian feed barley prices. But that demand is waning now that China has removed its import tariffs on Australian barley.
Canadian bulk barley exports through week 16 of the 2023-24 campaign total just 742,700 tonnes, versus 1.05
...More info on site
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USA, MI: Salty Pecker Brewing Co. closing after this week
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Salty Pecker Brewing Co., a brewery in West Michigan, is closing after this week, FOX 2 Detroit reported on November 27.
"We tried to get our hobby to work and the odds haven't been in our favor," owners Derek and Jennifer Olsen wrote in a post announcing the closure.
The Norton Shores brewery opened in September 2021, and the closure was announced over the weekend. According to the owners, their landlord is selling the building. The pain of moving coupled with declining sales led to the decision to close.
"I have so much to say, but I can not find the words. This really sucks, but honestly we are not sad! We believe everything happens for a reason," the owners wrote in a post sharing the news.
Saturday, Dec. 2 will be Salty Pecker's last day.
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Japan: Kirin Holdings outlines plans of ‘aggressive measures’ across beer and sugar-free innovations
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Beverage heavyweight Kirin Holdings has outlined plans to implement ‘aggressive measures’ across beer and sugar-free innovation, to recover from the negative impact of cost
...More info on site
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Malaysia: Heineken Malaysia posts decrease in net profit, revenue in Q3 to September 30
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Heineken Malaysia Bhd anticipates the market to remain challenging due to cautious consumer spending prompted by macroeconomic concerns, according to managing director Roland Bala,
...More info on site
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Japan: Japanese brewer Asahi to sell EUR1.09 bln in shares to overseas investors
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Major shareholders in Japanese brewer Asahi Group Holdings will sell 177 billion yen (€1.09 billion) in shares in a secondary offering to overseas investors, after setting a price of 5,286 per share, the company said in a stock exchange filing on November 28.
The offering represents around 6.6% of Asahi's outstanding shares, according to LSEG data, held by nine Japanese financial institutions including Nomura Holdings and the main lending unit of Sumitomo Mitsui Financial Group.
The price represented a 3.01% discount to Asahi's closing price on November 28 of 5,450 yen, the filing said.
Japanese companies have in recent years been unwinding cross-shareholdings that had been acquired to cement business ties.
The Tokyo Stock Exchange has encouraged this unwinding, to improve Japanese companies' use of capital. Critics of cross-shareholdings say they undermine governance because such shareholders are unlikely to pressure their partners for higher returns.
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UK: AHDB launches its Recommended Lists for cereals and oilseeds 2024/25
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AHDB has launched (27 November 2023) the online edition of the Recommended Lists for cereals and oilseeds (RL) 2024/25.
With fewer new varieties added than in recent years, the latest edition has shorter lists for most major crops and features several eye-catching new additions, including the first BYDV-tolerant six-row hybrid winter barley, the first new provisional UKFM Group 1 winter wheat since 2017 and a ‘barn-filling’ Group 3 winter wheat.
RL 2024/25 also features many improvements to the tables, following feedback from the RL review, as well as information on verticillium stem stripe resistance in oilseed rape for the first time.
Paul Gosling, who manages the RL at AHDB, said:
“The RL review has already resulted in numerous changes to the lists. This year’s leaner lists will be welcomed by many. However, quality remains high, with several exciting new additions.”
The winter barley list has two new varieties. SY Buzzard is the first six-row hybrid with tolerance to BYDV, which will be of particular interest to growers who want to avoid insecticide use. It also has relatively good resistance to lodging, although it is lower yielding than other six-row hybrids. Two-row feed variety LG Capitol has high treated and untreated yields, with a good disease
...More info on site
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UK: Society of Independent Brewers calling for expanding limit on ‘alcohol-free’ beer
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The Society of Independent Brewers (SIBA) is calling on the UK government to expand the limit on ‘alcohol-free’ labelling to 0.5% abv products.
In the UK, beer can only be labelled ‘no alcohol’ or ‘alcohol-free’ if it contains an abv of 0.05% or less. Products labelled ‘low alcohol’ must be 1.2% abv or below.
But the SIBA said achieving 0.05% abv is an expensive process that makes it difficult for “small independent breweries” to enter the low-and-no market.
It comes as last month the UK government launched a consultation on labelling.
It proposed to raise the threshold for an “alcohol-free” drink to an abv of 0.5% to make alternatives to alcoholic drinks more widely available and popular.
Andy Slee, SIBA CEO, said: “For small independent breweries, NoLo is a fledgling sector and our members are increasingly looking to add new innovative low alcohol beers to their range but are hindered by confusing labelling guidance and the barriers to accessing the market.
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Nigeria: Guinness Nigeria’s new Managing Director its first Nigerian CEO since 2015
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Guinness Nigeria has announced the appointment of Mr Adebayo Alli as its new Managing Director, its first Nigerian MD since 2015, Nairametrics reported on November 28.
The appointment comes after John Musunga, the now erstwhile MD of Guinness Nigeria moved to become Diageo Africa’s Managing Director for Southern, West, and Central Africa.
The announcement was given after the company’s board meeting held on Monday, November 27, 2023.
According to the corporate filing on NGX’s website signed by the Company Secretary, Abidemi Ademola, Adebayo Alli would resume his new role within the company on January 1, 2024.
Adebayo Alli, a mechanical engineer by training, holds a B.Sc. in Mechanical Engineering from the University of Ibadan and an MSc in Advanced Process Engineering from Loughborough University, UK.
He joined Diageo, owner of Guinness Nigeria in 2005 as a Packaging Operations Support Manager. Since then, he has gone on to work as project lead for a business transformation project in Meta Abo Brewery Limited, Ethiopia, another of Diageo Africa’s businesses. In 2014, he became a plant manager at the Meta Abo Brewery, and in 2015, Supply Chain Director.
Upon his return to Nigeria in 2017, he assumed the role of Operations
...More info on site
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UK: Value at rare whiskies at auctions records steepest fall in a decade
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The value of rare whiskies sold at auction has recorded the steepest fall in a decade other than during the pandemic, indicating that softening demand for luxury items is spreading to an asset class previously seen as a haven from volatile markets, the Financial Times reported on November 27.
Investment bank Noble & Co said analysis based on about 8,500 transactions of “fine and rare” single malts, defined as whiskies selling for more than £1,000 per 700ml or 750ml bottle, showed a 7 per cent drop to £27mn in the 12 months to September compared with the previous year.
The decline follows a 19 per cent increase the previous year, suggesting that premium whisky’s “almost unblemished” status among the best-performing alternative investments was declining.
Edinburgh-based Noble & Co said the fall in the transaction value was the first “major drop” since 2012 — excluding a 51 per cent fall during the Covid-19 lockdown in 2020. Prices at auction fell despite the number of bottles being sold increasing by a tenth to more than 8,500 in the first 10 months of 2023.
The sales decline adds to evidence that whisky sales are not immune to the effects of a slump in demand for luxury goods
...More info on site
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India: United Breweries launches Heineken Silver Draught beer in India
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United Breweries, a beer manufacturing major and part of the Amsterdam-based HEINEKEN group, is launching Heineken Silver Draught beer in India, The Hindu BusinessLine reported on November 28.
This is for the first time Heineken has introduced draught beer in the Indian market, aiming to provide consumers with a premium, smooth-tasting beverage tailored for social occasions.
The initial launch will see Heineken Silver Draught Beer available in premium bars and pubs across Mumbai, Thane and Pune in Maharashtra, with plans to expand to Karnataka in the fiscal year 2024.
“We are thrilled to introduce Heineken Silver Draught Beer to the discerning consumers in India, aligning with our commitment to cater to evolving preferences. In response to consumer insights, we recognise the demand for a superior and refreshing beer experience,” said Vivek Gupta, MD and CEO, United Breweries Ltd , a part of the HEINEKEN company.
Heineken Silver, a 100-per cent malt brew crafted with natural ingredients, provides a delightfully refreshing, smooth, and easy-to-drink lager with a crisp, subtle finish. This variant has already garnered immense appreciation in our global markets and we are confident that it will resonate with the new generation of beer enthusiasts in India, he added.
Crafted by
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