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E-Malt.com Newsletter 08a
February 19 - February 21, 2024
Quote of the Week
Just one small positive thought in the morning can change your whole day.
Dalai Lama
Currency Rates
Base Currency: US Dollar
on February 21, 2024 |
Base Currency: Canadian Dollar
on February 21, 2024 |
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1 USD = 0.9264 EUR
1 USD = 0.7930 GBP
1 USD = 1.3507 CAD
1 USD = 1.5274 AUD
1 USD = 150.1240 JPY
1 USD = 4.9442 BRL
1 USD = 91.6849 RUB
1 USD = 7.1937 CNY
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1 CAD = 0.7402 USD
1 CAD = 0.5870 GBP
1 CAD = 0.6857 EUR
1 CAD = 1.1306 AUD
1 CAD = 111.1270 JPY
1 CAD = 3.6598 BRL
1 CAD = 67.8683 RUB
1 CAD = 5.3250 CNY
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Currency Rates Chart
Equities of the Largest Breweries
USA, PA: Odd Logic Brewing Company to open soon in New Hope
...Click here
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USA, MI: Grand River Brewery looking forward to coming to Brighton in May or June
...Click here
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USA, MI: Detroit brewer Mark Rieth acquires majority stake in Lansing Brewing Co.
...Click here
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Mexico: Diageo appoints new head of Mexican business after profit warning
...Click here
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USA, PA: Couple planning to open Wishful Thinking Brewing Company in Bethlehem
...Click here
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USA, OH: R. Shea Brewing Co. to close both of its locations
...Click here
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USA, PA: Pittsburgh’s Necromancer Brewing permanently closing this weekend
...Click here
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Brazil: Brazil’s malt producer Malteria Blumenau to cease production
...Click here
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Japan: All four major beer makers report growth in sales and net profits last year
...Click here
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World: Barley production forecast trimmed to 53.1 mln tonnes for this year
...Click here
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Japan: Sapporo to refocus on beer business as activist raises stake
...Click here
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Nigeria: Heineken’s Nigerian unit facing the worst downturn in the history of its operations
...Click here
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Australia & Latin America: Australian barley and malt make significant gains in Latin American markets
...Click here
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UK: UK brewer Adnams calls in advisers to seek funds to secure its financial future
...Click here
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World: Beam Suntory’s Japanese whiskies deliver double-digit growth in 2023
...Click here
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France: Soft wheat, winter barley, durum wheat crop conditions seen at four-year lows
...Click here
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Azerbaijan: Carlsberg Azerbaijan makes modest yet significant 1% increase in its 2023 sales figure
...Click here
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Japan & India: Kirin Holdings purchases additional stake in India’s B9 Beverages
...Click here
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UK: Heineken launches Birra Moretti made with a hint of sea salt
...Click here
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Graph of the Week
Table of the Week
Canada Malt Exports and Imports 2012 - 2023
Prices Evolution
Barley Prices
Theoretical Malt Prices
These Days in Business History
19 February
1878 - Thomas Alva Edison patents gramophone (phonograph)
1899 - Cornelius Vanderbilt Whitney, Pan Am Airways (World airways) founder is born
1969 - 1st Test flight of Boeing 747 jumbo jet
20 February
1768 - 1st American chartered fire insurance company opens
1811 - Austria declares bankruptcy
1848 - Edward H. Harriman is born in Hempstead. By age 50 he commands the Union Pacific and Southern Pacific railways, making him one of the most powerful railroad barons in the world
21 February
1914 - The Hong Kong Stock Exchange (formerly the Association of Stock Brokers in Hong Kong) is established
1947 - Edwin H. Land, founder of Polaroid Corp., demonstrates the instant camera to 650 scientists assembled at the annual meeting of the Optical Society of America
1988 - Peter Kalikow purchases New York Post from Rupert Murdoch for $37.6 million
Agenda
February 2024:
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 - 23: InnBrew 2024 (Barcelona, Spain)
22 - 24: St Malo Craft Beer Expo 2024 (St Malo, France)
22 - 24: Barcelona Beer Festival 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, TX: KinderHill Brew Lab expanding in Bryan
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Local businesses have faced tough times over the last several years, with some shutting down. Yet, Bryan’s KinderHill Brew Lab, owned by Jason Kinderman and Laura Hill, is set to expand, KBTX reported on February 19.
In March 2021, amidst uncertainty, the brewery opened in its current location on South Bryan Avenue.
“We actually opened the weekend that the mask mandate was lifted in Texas so we kind of got lucky there that everyone was ready to come out and check us out,” said Hill.
Three years later, the biergarten is still serving up unique one-of-a-kind beers and cocktails and is now eager to grow.
“We are very excited, so we have been looking to purchase a property since before we ever opened at our current location. It’s been a lot of ups and downs, places we’ve put offers in that we didn’t end up getting,” said Kinderman.
Their new spot on West 31st Street will offer more indoor space, more parking, and an expanded drink menu.
“We serve everything in plastic cups, here we’ll be able to have the proper glassware and maybe elevate some of those cocktails and we’ll also be able to expand our brewing operations and offer even more beers and other
...More info on site
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USA, PA: Odd Logic Brewing Company to open soon in New Hope
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Bristol’s Odd Logic Brewing Company will be opening soon at New Hope’s Ferry Market on South Main Street, Patch.com reported on February 18
“You’ll soon be able to enjoy our beers on draft as well as grab cans to go, right on Main St. in New Hope,” writes Odd Logic on its Facebook page. “We’re incredibly excited to bring our energy to such a beautiful place.”
Odd Logic is a hyper-focused brewery and taproom that opened in November 2019 on Bristol Pike.
Odd Logic replaces Neshaminy Creek Brewing Company, which closed its market location in early December.
“We’ve had a great time serving our beers here for the last three years and appreciate everyone that has come to visit our little spot,” Neshaminy Creek wrote on it Facebook page. “We’ll miss all of our customers and fellow vendors that have become friends over the years.”
Neshaminy Creek Brewing Company will continue to operate its Dublin Square satellite taproom at the Station with plans to open a new taproom this year in Harleysville, Montgomery County.
“We’re hard at work in Harleysville where we’ll be opening up a brand new taproom in late spring,” writes Neshaminy Creek on its Facebook page. “We’ve been so humbled by the response
...More info on site
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USA, MI: Grand River Brewery looking forward to coming to Brighton in May or June
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When Grand River Brewery opens in Brighton it will be the fourth bar-restaurant in Justin Dalenberg’s growing chain, WHMI reported on February 19.
Dalenberg is investing $400,000 in the renovation of the former Ginopolis on W. Main Street into the Grand River Brewery. “We’re really looking forward to coming to Brighton,” Dalenberg said.
He instantly took a liking to Brighton when he was looking for a new place to locate one of his brewpubs. “We really liked the Brighton area,” Dalenberg says. "I liked the location (at the I-96 and US-23 interchange),” he says. "Nobody had opened a brewpub (in Brighton) at the time. We’re good friends with Mike Corrigan and knew his tenant, Ginopolis, was struggling because of the pandemic and Main Street being closed off.” His first brewpub was in Jackson, then he added historic Marshall, and the Detroit suburb of Clawson venue was added last fall. He hopes to open the Brighton location in May or June.
Dalenberg will be installing a 3-barrel brew house, which will allow them to produce three barrels, or 93 gallons per batch — the perfect size for small-scale beer recipes. His company also makes beer for Brew Detroit - it both brews and cans
...More info on site
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USA, MI: Detroit brewer Mark Rieth acquires majority stake in Lansing Brewing Co.
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Mark Rieth, founder and former owner of Atwater Brewery in Detroit, is returning to the Michigan beer scene by acquiring a majority stake in Lansing Brewing Co. and its Hard Nose Spirits, cider, and winery, DBusiness Magazine reported on February 20.
Lansing Brewing Co. has a long history dating back to 1898 before being shuttered during prohibition. Brought back to life in 2015, the brewery is located in the Stadium District.
The brewery offer more than 20 locally brewed beers and ciders at its full-service pub and at select retailers.
“I wasn’t sure I’d come back to the craft beer industry, but I’m a certified beer lover and this was a unique opportunity to connect my two favorite cities, Detroit and Lansing, Motor City meets Capital City,” says Rieth. “LBC is a respected regional brand and allows me to combine my passions for brewing unique, high quality, and easy drinking beers while also supporting Lansing and the Michigan State Spartan community.”
The brewery, which offers a full menu, beer to go, and is located at 518 E. Shiawassee St., will maintain its normal service and hours of operation. LBC’s Hard Nose Spirits, cider, and winery will continue with plans to add ready-to-drink cocktails in
...More info on site
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Mexico: Diageo appoints new head of Mexican business after profit warning
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Diageo has appointed a new head of Mexico, where a build-up of unsold inventory helped drive a profit warning last year, the Checkout Magazine reported on February 16.
The new managing director of Mexico Leonardo Curado took up his position in January, according to a statement by Diageo.
It also said that the previous director, Mariano Perotti, stepped down for “personal reasons.”
Latin America’s build-up of unsold stock, as well as low sales in the Caribbean, caused the company’s shares to plunge to an almost three-year low.
The leading spirits maker said in November they became aware of the build up at a fairly late stage.
The admission knocked investor confidence in the company and the team lead by bew chief executive Debra Crew.
They warned at the time that sales in the regions would fall by more than 20% in the first half of the fiscal year, blaming the unsold stock.
Less than two months earlier, the number one spirits company said trading was in line with expectations.
Cuardo was previously the area managing director of wellness company Kevue, and also worked at Johnson & Johnson, according to LinkedIn.
Perotti had joined Diageo in 2021 and did not immediately respond via social media to Reuters for a comment.
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USA, PA: Couple planning to open Wishful Thinking Brewing Company in Bethlehem
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Brendan and Jackie Breslin are planning to open Wishful Thinking Brewing Company in a building that formerly housed Bethlehem’s Bavarian Tavern; a landmark watering hole on the city’s South Side, the Saucon Source reported on February 19.
Given the former name of the building their brewery will soon inhabit, it’s perhaps a bit prophetic that owners Brendan and Jackie Breslin landed where they did.
This spring, the Breslins plan to open Wishful Thinking Brewing Company in a building that formerly housed Bethlehem’s Bavarian Tavern; a landmark watering hole on the city’s South Side.
Bavaria is generally considered the birthplace of lager, and traditional lagers form a fundamental part of Brendan Breslin’s brewing ethos.
Specifically, Wishful Thinking specializes in brewing pale lagers in the Old World tradition of the Czech republic, which–like Bavaria–is home to a number of historic, renowned lager breweries.
Brendan Breslin got his start making beer at Philadelphia’s Manayunk Brewing Company nearly a decade ago. After cutting his teeth handling logistics and other aspects of the distribution and brewing processes, he moved to Stickman Brews and Pottstown United Brewing Co., in Royersford and Pottstown, respectively.
A West Chester native, Brendan and his wife Jackie–who grew up in Pipersville–began tapping into the Lehigh Valley beer
...More info on site
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USA, OH: R. Shea Brewing Co. to close both of its locations
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R. Shea Brewing Co. announced it will close both locations on Sunday, March 3, the Akron brewery posted on February 17 via Facebook.
The writing was on the wall late last year when owner Ron Shea launched a crowdfunding venture as a way to stave off loans with increasing interest rates.
Shea’s original location is in the Merriman Valley, and things were going well – enough to consider and plan an expansion to Canal Place downtown. But that location opened several months before the government shutdown as a result of the coronavirus pandemic in 2020, and that timing dug a hole that Shea could not get out of.
A combination of financial factors led Shea to announce the closure.
“We can’t fight anymore,” he posted. “We are completely out of ammunition. There is nothing left.”
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USA, PA: Pittsburgh’s Necromancer Brewing permanently closing this weekend
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After nearly 3 years in business, Necromancer Brewing is permanently closing, Breweries in PA reported on February 19.
The brewery will be open for the last time this Thursday and Friday (February 22-23), giving away FREE beer.
Necromancer owner Ben Butler explained the sudden closure as follows:
“Long story short, if you love your local brewery, hold them tight and don’t ever let them go. As an owner, my current perspective is absolute respect for anyone who has done this longer and continues to do so. It’s challenging.
“In that vein, I think it’s important for patrons to understand just how many factors work against breweries from the state level. Although it wasn’t the reason for our closure, my god do they make it hard. Breweries pay taxes on literally breathing, and as you might’ve seen recently in Pittsburgh, get told to stop operating without any temporary authority to operate to address state concerns.
“That is literally a business killer, which is completely against the stance of the current governor, and very against business in general.
“Finally, I gotta give a shout to my head brewer, and my entire team. They worked their asses off and this has nothing to do with the quality or their
...More info on site
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Brazil: Brazil’s malt producer Malteria Blumenau to cease production
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Malteria Blumenau, Brazil’s first micromalting plant, to stop operations as it lacks capacity to compete on the nation’s market, Catalisi.com reported on February 15.
Inaugurated
...More info on site
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Japan: All four major beer makers report growth in sales and net profits last year
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All four major Japanese beer makers logged year-on-year growth in their group sales and net profits in 2023, thanks to price hikes at home
...More info on site
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World: Barley production forecast trimmed to 53.1 mln tonnes for this year
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Consultancy Strategie Grains has trimmed its forecast for 2024 soft wheat production in the European Union, with output still expected to be down 2.5%
...More info on site
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Japan: Sapporo to refocus on beer business as activist raises stake
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Sapporo Holdings, the Japanese brewer, pressured by activist investors to sell its property holdings, wants to announce its business portfolio reorganisation "as soon as
...More info on site
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Nigeria: Heineken’s Nigerian unit facing the worst downturn in the history of its operations
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Heineken NV’s Nigerian unit is facing the worst downturn in the history of its operations in Africa’s most populous nation, the firm’s chief executive
...More info on site
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Australia & Latin America: Australian barley and malt make significant gains in Latin American markets
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Australia's barley and malt have made significant gains in Latin American markets over the past four years, driven by investments by industry and the
...More info on site
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UK: UK brewer Adnams calls in advisers to seek funds to secure its financial future
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Adnams has confirmed it has called in advisers to explore options to raise funds as the Suffolk-based brewer aims to secure its financial future, The Guardian reported on February 12.
The 152-year-old company, which is based in Southwold in Suffolk, has instructed Alvarez & Marsal to “explore a range of options to fund the company’s future growth plans”.
It said in a statement on February 12: “As a business of more than 150 years, and ever mindful of the challenges faced by the hospitality and brewing industries in recent times, the company is continually proactive in seeking ways to ensure that the business is even more resilient for the years to come.”
Shares in Adnams, which has seen its market value drop by almost two-thirds over the past year, fell nearly 5% after the news.
Options are likely to include private capital from a high net worth investor or family office, as well as potentially the sale of some of Adnams’ freehold assets from its estate of 45 managed inns and properties.
In September, the company reported that operating losses in the first half of the year to June widened to £2.4m, compared with an £811,000 loss in the same period in 2022, as revenues
...More info on site
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World: Beam Suntory’s Japanese whiskies deliver double-digit growth in 2023
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Maker’s Mark owner Beam Suntory saw net sales grow by 7% in 2023, driven by double-digit gains for its premium Bourbons and Japanese whiskies,
...More info on site
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France: Soft wheat, winter barley, durum wheat crop conditions seen at four-year lows
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The state of French soft wheat crops remained at their worst in four years last week after a rain-disrupted sowing campaign, data from farm office FranceAgriMer showed on February 16.
Some 68% of French soft wheat was rated as being in good or excellent condition by Feb. 12, unchanged from a week earlier but the lowest for the time of year since 2020, when crops were also affected by heavy rain, FranceAgriMer said in a cereal report.
A year ago, 93% of soft wheat was rated good/excellent.
Torrential rain in autumn and early winter delayed planting in France, the European Union's biggest grain producer, and also hampered the establishment of young crops, particularly along the west coast.
France's agriculture ministry this week estimated the country's soft wheat area would fall by more than 7% from last year to its second-lowest in 30 years.
Farmers finished sowing soft wheat and winter barley last week, FranceAgriMer's crop report showed.
For durum wheat, planting was 89% complete by Feb. 12, compared with an average 95% for the past five years, the office said.
Winter barley and durum crop conditions were also at four-year lows at 71% and 75% good/excellent, respectively.
However, durum conditions had improved sharply from the previous week when
...More info on site
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Azerbaijan: Carlsberg Azerbaijan makes modest yet significant 1% increase in its 2023 sales figure
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Carlsberg Azerbaijan has demonstrated resilience in its sales figures for 2023, marking a modest yet significant 1% increase compared to the previous year. This
...More info on site
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Japan & India: Kirin Holdings purchases additional stake in India’s B9 Beverages
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Kirin Holdings, the Japanese beverage group, is investing Rs 205 crore to purchase an additional minority stake in B9 Beverages. B9 Beverages is the maker of craft beer Bira 91 and owner of Beer Cafe, a pub chain. The transaction, which was made through the purchase of fresh shares, will boost the group’s holding in B9 Beverages, Storyboard18 reported on February 19.
Another American investor is also close to investing $25 million for an additional stake, bringing the total fresh investments to $50 million at a pre-money valuation of $600 million.
The company plans to use the funds to expand breweries, increase the global retail presence, and grow Bira 91's Taproom pubs, as per reports.
India's beer market reached Rs. 41,407 crore in 2023 and is predicted to hit sales of Rs. 78,120 crore by 2032. B9 Beverages reported a revenue of Rs. 824 crore for the fiscal year ended March 2023, a 14.6 percent increase from Rs. 719 crore in FY22. B9 Beverages, which was launched in 2015, sells craft, lager, and strong beer across brands such as Bira White, Gold and Boom. It is present in 24 countries and operaties six breweries. Sequoia Capital and Belgium’s Sofina are among its investors.
Over
...More info on site
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UK: Heineken launches Birra Moretti made with a hint of sea salt
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Heineken UK’s continental beer brand Birra Moretti has introduced a new innovation that is made with a hint of sea salt, Kamcity reported on February 19.
Birra-Moretti-Sale-di-MareBirra Moretti Sale di Mare (4.8% ABV) is rolling out across the grocery, wholesale and convenience channels in multipacks of 4x330ml (RRP: £7) and a single 660ml bottle.
With demand rising for continental lagers in the UK, Sale di Mare is said to be positioned to help retailers make the most of this trend. Offering an unfiltered, medium-bodied premium lager made with a hint of sea salt harvested from Sicily, Sale di Mare translates as ‘salt of the sea’.
The launch will be supported by a multi-million-pound nationwide marketing campaign, launching on TV in April, as well as glassware gift with purchase mechanic for the multipack format. Packaging will also include a game accessible via QR code to offer consumers the opportunity to win prizes and access food and beer pairing inspiration.
Richard Barnes, Marketing Manager, commented: “Research identified an opportunity to offer curious drinkers seeking more flavourful and interesting taste profiles, with an accessible premium twist, and Birra Moretti Sale di Mare speaks perfectly to this.
“We know that Birra Moretti is a well-loved brand synonymous with quality,
...More info on site
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