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E-Malt.com Newsletter 07b
February 15 - February 18, 2024
Quote of the Week
To know how much there is to know is the beginning of learning to live.
Dorothy West
Currency Rates
Base Currency: US Dollar
on February 16, 2024 |
Base Currency: Canadian Dollar
on February 16, 2024 |
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1 USD = 0.9303 EUR
1 USD = 0.7953 GBP
1 USD = 1.3515 CAD
1 USD = 1.5374 AUD
1 USD = 150.0670 JPY
1 USD = 4.9693 BRL
1 USD = 91.7126 RUB
1 USD = 7.1436 CNY
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1 CAD = 0.7398 USD
1 CAD = 0.5884 GBP
1 CAD = 0.6883 EUR
1 CAD = 1.1374 AUD
1 CAD = 111.0230 JPY
1 CAD = 3.6764 BRL
1 CAD = 67.8509 RUB
1 CAD = 5.2850 CNY
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Currency Rates Chart
Equities of the Largest Breweries
USA: US Beer Wholesalers January data paints uninspiring early start to 2024
...Click here
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Canada: Barley market dealing with weak demand situation
...Click here
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USA, NC: North South Brewing coming to downtown Fayetteville
...Click here
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USA, NJ: Flying Fish Brewing Co edges closer to liquidation
...Click here
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Australia: Barley crop estimate remains unchanged at 11.19 mln tonnes
...Click here
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Australia: Beer category falls hardest in the year to September 2023 as more Autralians turn to RTD products, research shows
...Click here
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Australia & China: Australia’s booming barley trade with China ringing alarm bells for some
...Click here
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Argentina: Barley crop estimate steady at 4.75 mln tonnes
...Click here
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World: Scotch whisky exports surge in 2023 with China leading the way in growth
...Click here
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France: Farm agency slightly lowers forecast for barley exports outside the EU, increases expectations of soft wheat shipments
...Click here
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Ukraine: Barley shipments since the beginning of 2023/24 marketing year total 1.507 mln tonnes
...Click here
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South Africa: Brewers call for 4.9% increase in excise duties to cushion them against projected inflation increase
...Click here
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South Korea: Heineken Korea to lay off up to 8% of total workforce amid restructure
...Click here
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UK: British Beer and Pub Association urges government to address inflation and reduce beer duty
...Click here
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Kenya: Kenya Breweries rolls out new technology platform enabling retailers to place orders online
...Click here
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China & UK: Tsingtao signs new UK distribution agreement
...Click here
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Graph of the Week
Table of the Week
Top 10 Countries by Beer Consumption 2020 - 2022
Prices Evolution
Barley Prices
Theoretical Malt Prices
These Days in Business History
15 February
1946 - Bank of England nationalized
1955 - 1st pilot plant to produce man-made diamonds announced
1995 - Dow-Jones closes at record 3986.17
16 February
1978 - 1st Computer Bulletin Board System (Ward and Randy's CBBS, Chicago)
1990 - Cisco Systems, Inc. goes public on NASDAQ, selling 2.8 million shares at an initial offering price of $18 per share
1998 - Tellabs Inc. acquires Coherent Communications Systems for $670 million
17 February
1878 - Silver dollar became U.S. legal tender
1986 - 1st Francophone Summit convenes at Versailles
1989 - Egypt, Iraq, Jordan and North Yemen form common market
18 February
1933 - 1st issue of Newsweek magazine published
1939 - Golden Gate International Exposition opens on Treasure Island
1981 - Chrysler Corporation reports largest corporate losses in U.S. history
Agenda
February 2024:
15 - 17: Great British Beer Festival Winter 2024 (Burton-on-Trent, UK)
18 - 20: BBTech Expo 2024 (Rimini, Italy)
23 - 25: Finest Spirits 2024 (Munich, Germany)
March 2024:
05 - 08: The 12th RMI Conference (Rome, Italy)
12 - 14: ExpoAntad 2024 (Guadalajara, Mexico)
13 - 15: 108 International Brewing & Engineering Congress 2024 (Groningen, the Netherlands)
13 - 14: BeerX 2024 (Liverpool, UK)
21 - 23: Warsaw Beer Festival 2024 (Warsaw, Poland)
22 - 24: Barcelona Beer Festival 2024 (Barcelona, Spain)
22 - 24: St Malo Craft Beer Expo 2024 (St Malo, France)
22 - 23: InnBrew 2024 (Barcelona, Spain)
April 2024:
06 - 08: Planete Biere 2024 (Paris, France)
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)
27 - 28: Zythos Beer Festival 2024 (Kortrijk, Belgium)
May 2024:
14 - 16: International Beer Strategies Conference 2024 (Porto, Portugal)
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)
14 - 15: Tallinn Craft Beer Weekend 2024 (Tallinn, Estonia)
August 2024:
08 - 10: VIETFOOD & BEVERAGE - VIETNAM 2024 (Saigon Exhibitions and Conventions Center, 799 Nguyen Van Linh Street, District 7, HoChiMinh City, Vietnam)
17 - 20: World Brewing Congress 2024 (Minneapolis, Minnesota)
23 - 24: Beervana 2024 (Wellington, New Zealand)
September 2024:
12 - 14: Stockholm Beer & Whisky Festival 2024 (Stockholm, Sweden)
14 - 15: Bruges Beer Festival 2024 (Bruges, Belgium)
21 - 06 October: Oktoberfest 2024 (Munich, Germany)
28 - 30: Whisky Live Paris 2024 (Paris, France)
October 2024:
03 - 04: Brew Asia 2024 (Suntec Convention & Exhibition Centre, Singapore)
23 - 25: Drink Technology India 2024 (Bombay Exhibition Centre, Mumbai, India)
28 - 31: China Brew 2024 China Beverage 2024 (Shanghai, China)
November 2024:
22 - 22: Drink Japan 2024 (Makuhari Messe, Japan)
26 - 28: Brau Beviale 2024 (Nuremberg, Germany)
News Articles
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USA: US Beer Wholesalers January data paints uninspiring early start to 2024
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The January 2024 data from the US Beer Wholesalers paints a rather uninspiring early start to 2024, with the overall Index remaining below the growth level of 50 (although the January 2024 level is improved over January 2023), RMI Analytics said in their early February report.
While the Import Category continues to perform rather well, at an Index level of 59, the momentum is slowing as the current value trails the 68 level in December 2023. This shifting lower is a trend this month across most of the beverage categories listed, as January is proving to be a struggle.
There is no rebound in Craft as volumes remain weak, and the FMB/Seltzers & Cider categories are stable at lower levels, it is reported.
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Canada: Barley market dealing with weak demand situation
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With a crop size established at 8.85 mln tonnes, Canada’s market is particularly focused upon the weak demand situation, RMI Analytics said in their
...More info on site
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USA, NC: North South Brewing coming to downtown Fayetteville
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North South Brewing has taken up a lease at the former Bright Light Brewing Company brewhouse located at 304 Williams Street in Fayetteville, the Greater Fayetteville Business Journal reported on February 14.
Owners James and Alicia Orlando have big plans to transform this 7,000 SF site into an entertainment hub complete with indoor cornhole, beer, programming and food.
“I've been a home brewer for about 15 years, and it's always kind of been a dream of mine to open up a brewery and right now is the perfect time for us to be honest. I'm still active duty military. I have a couple of years left, but we're starting this now because that building, that space on Williams Street opened up to us and we decided to take it,” explained James.
Owners James and Alicia grew up in New England, but family and military service brought them to Savannah, GA where they met. Ten years later, the military moved them to Fayetteville, NC where they finally felt at home. The name North South Brewing reflects the couples’ feeling that this location offers the perfect blend of the north and south, where everyone comes together.
“They, [Bright Light], had the second space that's on Williams
...More info on site
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USA, NJ: Flying Fish Brewing Co edges closer to liquidation
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New Jersey brewery Flying Fish’s remaining assets have been auctioned off with the business rumoured to being nudged towards liquidation, The Drinks Business reported on February 14.
The beer company highlighted via social media that even though it is possible that a buyer could still step up to save the brand, but admitted that, now, its future was “very uncertain”.
At the end of last year, Flying Fish filed for bankruptcy after its planned sale to Cape May Brewing Co collapsed.
The business, which is based in Pennsylvania, listed US$1.3 million in assets in its filing including brewing equipment worth an estimated US$500,000. Additionally, it also declared US$9.3 million in liabilities to multiple creditors.
According to local reports, in some cases a Chapter 11 filing can see loan maturities get extended and vendors make deals to keep their partners open, but in other cases those negotiations fail, and a Chapter 11 bankruptcy turns into a Chapter 7 liquidation.
Flying Fish was acquired by investment firm Elk Lake Capital in 2016 and, having previously generated a gross annual revenue of around US$4 million for the past few years. However, in 2023, Flying Fish saw this dip to US$3.1 million. Its financial woes followed a US$6 million
...More info on site
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USA, CO: Envy Brewing preparing to close up shop
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The taps at Envy Brewing will soon go dry as the south Fort Collins brewery prepares to close up shop, The Coloradoan reported on February 15.
The brewery, which opened at 3027 E. Harmony Road in March 2019, announced its forthcoming closure on Facebook earlier this month. The decision comes amid a list of compounding reasons, including the 2020 onset of COVID-19, construction on its building the following year and resulting financial strains, Envy Brewing's president and CEO told the Coloradoan in an email on February 14.
"It was a tough decision, but we just stopped having fun and need to focus on the things that do bring us joy," Dana Hood wrote, later adding that the brewery would not have made it through the past five years without the support of its patrons and friends.
Envy Brewing's last day in business will be Thursday, Feb. 29. Its final weekend will feature several beer specials and live music from Gii Astorga on Sunday, Feb. 25, Hood said.
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Australia: Barley crop estimate remains unchanged at 11.19 mln tonnes
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The Australian barley crop result remains unchanged at 11.19 mln tonnes, RMI Analytics reported earlier in February.
With harvest wrapped up, the trade’s focus is
...More info on site
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Australia: Beer category falls hardest in the year to September 2023 as more Autralians turn to RTD products, research shows
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Australia’s population is drinking in higher numbers and more people are favouring ready-to-drink (RTD) products as RTD consumption doubles.
In the year ending September 2023,
...More info on site
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Australia & China: Australia’s booming barley trade with China ringing alarm bells for some
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China has become the number one market for Australian barley again, but the booming trade is ringing alarm bells for some, ABC reported on
...More info on site
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Argentina: Barley crop estimate steady at 4.75 mln tonnes
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Hot weather was becoming a dryness concern for corn and soybeans in Argentina and added to the already growing farmer reluctance to sell barley
...More info on site
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World: Scotch whisky exports surge in 2023 with China leading the way in growth
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In 2023, Scotch Whisky exports surged to £5.6 billion, with China leading the way in growth at 165%. This success is attributed to the
...More info on site
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France: Farm agency slightly lowers forecast for barley exports outside the EU, increases expectations of soft wheat shipments
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France's state-backed farm agency FranceAgriMer has increased its forecast for 2023/24 soft wheat exports outside the European Union (EU) in its monthly outlook published on February 14.
According to the monthly report, FranceAgriMer raised the forecast for commercial exports to countries outside the EU by 150,000 tonnes to 10.25 million tonnes, a volume some 100,000 tonnes above the 10.15 million tonnes exported in 2022/23.
FranceAgriMer also lowered its forecast for exports to EU member states in 2023/24 to 6.32 million tonnes from the previous estimate of 6.55 million tonnes, representing a 1.2% decrease in year-on-year exports to EU member states.
The farm agency said its estimates for wheat exports outside of the EU were raised on higher expectations for Morocco and China. At the same time, estimates for exports within the EU were lowered due to greater competition from the Black Sea into Southern Europe.
The total volume of exports was also lowered to 16.67 million tonnes from 16.76 million tonnes a month ago.
The figure is just 0.1% above exports in the 2022/23 marketing year.
According to data from the European Commission, France exported 4.61 million tonnes of wheat between July 1, 2023, and February 2, 2024, with total wheat exports expected at 16.98 million
...More info on site
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Ukraine: Barley shipments since the beginning of 2023/24 marketing year total 1.507 mln tonnes
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According to the State Customs Service, as of February 14, since the beginning of 2023/24 MY, Ukraine exported 26.269 mln tonnes of grain and pulses. Of this, 2.393 mln tonnes were shipped since the beginning of the current month. This was reported by the press service of the Ministry of Agrarian Policy of Ukraine.
The indicated export volume is still lower y-o-y when 29.678 mln tonnes were shipped as of February 15, 2023 including 2.707 mln tonnes in February.
In terms of crops, since the beginning of the current season, the following were exported:
- wheat – 10.14 mln tonnes (923 thsd tonnes in February);
- barley – 1.507 mln tonnes (92 thsd tonnes);
- rye – 1 thsd tonnes (0);
- corn – 14.355 mln tonnes (1.371 mln tonnes).
The total export of Ukrainian flour as of February 14 is estimated at 70.6 thsd tonnes (3.9 thsd tonnes in February), which is also lower y-o-y (91 thsd tonnes). The main part of the shipped volume is wheat flour – 66.9 thsd tonnes (3.6 thsd tonnes in February).
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South Africa: Brewers call for 4.9% increase in excise duties to cushion them against projected inflation increase
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South African beer brewers are cautioning against an escalation in sin taxes for beer and have called for a 4.9% increase in excise duties for alcoholic beverages manufactured by Heineken, South African Breweries and craft brewers as a way of cushioning them against a projected increase in inflation this year, msn.com reported on February 14.
The beer industry is a key employment creator and a major revenue earner for the government. It fears that higher sin taxes will take a toll on the industry, resulting in job and revenue losses.
But with the government squeezed for revenue and faced with ballooning debt, the beer industry is concerned that Finance Minister Enoch Godongwana may be forced to hit the industry with sin taxes when he announces South Africa’s Budget statement next week.
The South African beer manufacturers also want the government to raise the excise duty on beer products to levels that are in line with inflation movements.
“Ahead of the Budget Speech, the Beer Association of South Africa (BASA) has called for greater certainty around the excise adjustment, asking for an excise increase of 4.9% for beer, in line with projected inflation for this year,” the organisation said in a statement yesterday.
An increase in
...More info on site
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South Korea: Heineken Korea to lay off up to 8% of total workforce amid restructure
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Heineken Korea is restructuring its workforce. This is due to increased competition from other imported beer brands, the Chosun Daily reported on February 15.
According to the alcohol industry on Feb. 15, Heineken Korea, the Korean corporate body of global brewer Heineken, recently decided to restructure its workforce. As part of this restructuring, the company is planning to layoff around 7 to 8 % of its total workforce. All employees, except for certain key salespeople, are expected to be affected by the layoffs.
Heineken Korea notified its employees of the layoffs, citing cost-cutting due to poor performance. Some key employees have begun discussing career move agreements with competitors. The restructuring was reportedly led by the new head of Heineken Korea, Michael Vainio, who was appointed in August last year.
“We are currently in the process of reorganizing the Heineken Korea organization,” the company said. “The business environment has changed rapidly over the course of 2022 and 2023, and the consumption patterns of alcoholic beverages have changed significantly,” the company said, adding that the decision was made to keep pace and improve the organization’s competitiveness.
Heineken is the world’s second-largest brewer, headquartered in the Netherlands. Founded in 1864, it currently employs more than 86,000 people
...More info on site
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UK: British Beer and Pub Association urges government to address inflation and reduce beer duty
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The British Beer and Pub Association (BBPA) has called on the government to focus on reducing inflation and beer duty ahead of next month’s spring budget announcement, the Drinks Retailing News reported.
On February 14, the Office for National Statistics shared that inflation remained at 4% in January. This figure has remained unchanged since December 2023.
Reacting to the news, Emma McClarkin, chief executive of the BBPA, said the government urgently needs to relieve the ongoing financial burden on the brewing industry.
“The continuation of inflation at 4% in January will do nothing to alleviate the significant pressure on the beer and pub sector that long ago ran out of room to absorb cost increases while also staying in business.”
Looking ahead, McClarkin said: “The government must take the opportunity of next month’s Budget to make the vital cuts to beer duty, long term reforms to business rates…This will allow pubs and breweries to start to recover from this period of cost rises and return to bringing prosperity and social value to their local communities.”
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Kenya: Kenya Breweries rolls out new technology platform enabling retailers to place orders online
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Kenya Breweries Limited (KBL) is scaling up the rollout of a new technology platform to enable retailers to place orders online, ensuring they make timely orders for products they need from their distributors, KBC reported on February 13.
The platform, dubbed Diageo One, has been on trial for the last year and has now been scaled wider for more distributors and retailers across the country to use to order stock.
The new option will ensure retailers order their stocks on time and get quality products from the alcoholic beverages maker.
Speaking at the customer launch, KBL Managing Director Mark Ocitti said the platform is a powerful solution that will streamline and expedite transactions between distributors and downstream trade partners such as bars, cash-and-carry shops, and other retailers.
Ocitti said: “From what we have seen in the trial stage, Diageo One will revolutionise the way we engage with our trade partners – distributors and retailers – at the point of purchase. Specifically, this new digital platform will help retailers make informed purchase decisions by keeping themselves up to date on distributor inventory, product promotions, brand campaigns and more. Simply put, putting the power of seamless trade in their hands.”
He added: “Even as the times change,
...More info on site
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China & UK: Tsingtao signs new UK distribution agreement
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China’s Tsingtao has signed a joint distribution agreement with LEC Beverages and In Good Company for the UK sale of its beer, The Drinks Business reported on February 14.
A joint venture between LEC Beverages Group and In Good Company will see Tsingtao beer sold in both the UK’s on-trade and off-trade moving forwards.
Previously managed by C&C Group in the UK, Tsingtao is currently the number one imported Chinese beer brand in the United Kingdom.
LEC Beverages, which specialises in the progression of top-tier drinks brands, has teamed up with In Good Company – owner of Fourpure and Magic Rock Brewing Co. since 2019, when it acquired both brewers from Kirin’s Lion subsidiary – to jointly bring Tsingtao to as many retailers as possible.
In Good Company also counts craft beer People’s Captain and alcohol-free beer Big Drop, which joined the stable last year, among its portfolio.
Described by the brand as “a well-hopped standard pale lager”, Tsingtao will continue to be produced at Tsingtao Brewery Co’s facility in Qingdao, China, before being shipped to the UK.
It is currently available in Marks & Spencer, as well as offered in numerous Chinese restaurants across the UK.
“We’re thrilled to be taking on responsibility for Tsingtao’s
...More info on site
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