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E-Malt.com Newsletter 08b
February 22 - February 25, 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 23, 2024 |
Base Currency: Canadian Dollar
on February 23, 2024 |
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1 USD = 0.9231 EUR
1 USD = 0.7902 GBP
1 USD = 1.3479 CAD
1 USD = 1.5239 AUD
1 USD = 150.3870 JPY
1 USD = 4.9411 BRL
1 USD = 92.0918 RUB
1 USD = 7.1914 CNY
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1 CAD = 0.7418 USD
1 CAD = 0.5862 GBP
1 CAD = 0.6848 EUR
1 CAD = 1.1304 AUD
1 CAD = 111.5540 JPY
1 CAD = 3.6652 BRL
1 CAD = 68.3122 RUB
1 CAD = 5.3345 CNY
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Currency Rates Chart
Equities of the Largest Breweries
USA: On-premise beer sales soar during this year’s Super Bowl
...Click here
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USA, NJ: New Jersey's first educational microbrewery is coming to Burlington County
...Click here
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Canada: Feed barley bids remain under pressure in Western Canada
...Click here
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USA, CA: Bike Dog Brewing Co. has its eyes set on a third location
...Click here
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USA, NY: New Riverhead Brew House to be unveiled this spring
...Click here
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USA, TX: Tupps Brewery preparing to launch new facility in East McKinney
...Click here
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USA, ME: Argenta Brewing to open its doors in Portland on February 23
...Click here
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USA, AR: Flyway Brewing Company to take over High Cotton Brewing Co. and the former Edge Alley restaurant space
...Click here
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USA, NY: Market Street Brewing Company shutting down operations after over 25 years in business
...Click here
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USA, NC: The DreamChaser’s Brewery to close in early March
...Click here
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USA, IN: Scarlet Lane Brewing to close its brewpub after only a year of business
...Click here
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Japan: Asahi hopes massive group restructure will enhance advantages across four key markets
...Click here
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Austria: Brewers Association reports satisfactory sector results in 2023
...Click here
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UK: New project aims at boosting UK hop industry and creating environmentally resilient varieites
...Click here
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USA: On-premise beer sales soar during this year’s Super Bowl
...Click here
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Ireland: Malting barley in demand for Irish drinks industry
...Click here
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South Korea: Diageo, Heineken slash Korean workforces
...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
22 February
1923 - Transcontinental airmail service begins
1989 - New York Lotto pays $26.9 million to one winner
2006 - Apple's iTunes store sells its 1 billionth song
23 February
1886 - Aluminum manufacturing process developed
1886 - London Times publishes world's 1st classified ad
1965 - Michael Dell is born. He later drops out of the University of Texas at Austin to found Dell Computer Corp. with the radical idea of assembling made-to-order computers
24 February
1921 - 1st transcontinental flight in 24 hours flying time
1986 - Texas Air buys Eastern Airlines for $676 million
1995 - Dow-Jones hits record 4011.74
25 February
1791 - 1st Bank of U.S. chartered
1837 - 1st U.S. electric printing press patented by Thomas Davenport
1862 - Paper currency introduced in U.S. by President Abraham Lincoln
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: On-premise beer sales soar during this year’s Super Bowl
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America’s brewers are delighted that on-premise sales soared during this year’s Super Bowl, the biggest single event in the US sporting calendar, The Drinks Business reported on February 22.
Hospitality data platform Union recorded total sales in bars and restaurants were 16% above those on the day of the game compared to a typical day.
That was a six-percentage point increase over the same day in 2023 when they rose by 10% above the norm in restaurants, bars and clubs.
As the most viewed annual broadcast in the US, Super Bowl attracts a huge amount of advertising, especially from alcohol groups promoting their brands to fans throughout the event.
This year the big winner was Constellation Brands’ Corona, which topped the sales league table based on whole-day sales, while Anheuser-Busch InBev’s Michelob Ultra was the best seller during the game itself.
But the event was further bad news for AB InBev’s Bud Light brand which had easily topped the on-premise sales table for the 2023 game.
AB InBev spent heavily on the day to restore Bud Light among fans’ affections after the debacle with transgender influencer Dylan Mulvaney last spring, even harking back to iconic heritage advertising featuring Clydesdale heavy horses.
But the campaign fell flat with
...More info on site
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USA, NJ: New Jersey's first educational microbrewery is coming to Burlington County
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A brewer, some college administrators and board members of a historic nonprofit walked into the Community House of Moorestown. They formed a partnership to develop the first microbrewery of its kind in New Jersey, Patch.com reported on February 22.
An "education-based" microbrewery is coming to the Community House — a historic venue on Main Street that operates as an independent community center. King's Road Brewing Company will manage Community House Brewery and partner with Rowan College at Burlington County (RCBC) to provide students with hands-on industry experience.
The future brewery still needs to reach fundraising goals for the endeavor and then receive approval from the Town Council and the state's Division of Alcoholic Beverage Control. But organizers project it will open in late 2025 or early 2026.
RCBC intends to establish an associate degree in craft brewing to begin in fall 2025. The community college, based in Mount Laurel, received a grant from the state's Higher Education Equipment Leasing Fund to secure the necessary equipment to establish the program.
The microbrewery will go in a repurposed Community House space that once housed an indoor pool — a longtime summer gathering spot for Moorestown before it was discontinued in 2017. Moorestown Mayor Nicole Gillespie said
...More info on site
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Canada: Feed barley bids remain under pressure in Western Canada
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Feed barley bids in Western Canada remained under pressure in mid-February amid continued imports of corn from the United States and the relatively mild Prairie winter. However, localized spot opportunities do pop up occasionally, Grainews reported on February 22.
Many feedlots continue to work through U.S. corn contracted earlier in the marketing year, but the downtrend in corn futures should keep them looking to extend that coverage. Corn futures at the Chicago Board of Trade hit fresh contract lows on Feb. 22, with prices at their softest levels in over three years.
Meanwhile, barley bids have also trended lower, with average prices also at their lowest levels since December 2020. While bids over C$6.00 per bushel can still be found in southern Alberta, that’s down by about 50 cents over the past month. Meanwhile, average prices are closer to the C$5.00 per bushel or lower in Manitoba and Saskatchewan.
However, an example of pricing opportunities above the average would be some select Olymel facilities in Saskatchewan that recently upped their contracts for Feb-April delivery to C$5.25 to C$5.50 per bushel – well above what the local line companies are offering.
Looking ahead, while the nearby trend remains pointed lower, seasonal price patterns are typically
...More info on site
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USA, CA: Bike Dog Brewing Co. has its eyes set on a third location
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A West Sacramento-based brewing company that loves dogs as much as beer has its eyes set on a third location, AOL.com reported on February 21.
In a newsletter to subscribers this week, Bike Dog Brewing Co. announced a new site in East Sacramento is in the works but was tight-lipped about where it will be. The new location will be announced sometime this week, the company stated.
Bike Dog will plant roots in a neighborhood with its fair share of breweries including Porchlight Brewing Company, SacYard Community Tap House and Leftys Taproom.
Bike Dog representatives were not available to comment on the expansion this week.
“To say we are excited for the future is an understatement,” the brewing company wrote, adding “2024 is going to be nuts!”
The newest endeavor comes roughly one month after the beer company opened a kitchen inside its Land Park location at 915 Broadway, Suite 200.
The Land Park site, which debuted in 2017, now sells sandwiches, salads and small bites alongside its beer.
The original brick-and-mortar opened a decade ago at 2568 Industrial Blvd., Suite 110, in West Sacramento.
The company was founded by Peter Atwood, Raef Porter, Sage Smith and Andrew Tendick.
Tendick is no longer an owner.
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USA, NY: New Riverhead Brew House to be unveiled this spring
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Lily Flanagan’s Restaurant Group plans to fill the vacancy left by Peconic County Brewing on the ground floor of the Riverview Lofts apartment building on Main Street after it shuttered suddenly last August. Craft beer fans can hop to another Riverhead brewery in just a few short months. Wayne Meehan, a principal with the Babylon-based hospitality company, hopes to unveil the forthcoming Riverhead Brew House this spring. In addition to renovating the space, the group is currently searching for a brewmaster, the Riverhead News Review reported on February 21.
“We’re hoping right off the bat, to come up with an IPA and a lager, and go from there into stouts and sours and stuff like that,” Mr. Meehan said. “We’re going to get further afield, but we got to start somewhere.”
Breweries are nothing new for the downtown Riverhead area, where craft beer fans can visit the likes of long-running Long Ireland and newcomers such as Übergeek and Twin Fork Beer Co. Mr. Meehan said the company had been eying Riverhead for what will be its most eastern location and ultimately decided a brewery would fit right in.
“I think it’s an advantage because I think people go to the area to visit
...More info on site
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USA, TX: Tupps Brewery preparing to launch new facility in East McKinney
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Tupps Brewery is preparing to open the doors of its new, spacious location in East McKinney’s historic mill district, Connect CRE reported on February 22.
The brewery started in 2015 as a small garage project in McKinney, producing just three beers. Over the last nine years, the brewery has grown into a sizable business, with distribution spanning across much of Texas and into Oklahoma, Alabama and Florida. The new location at 402 East Louisiana St. offers the chance to produce more beer in a bigger space.
The new campus spans 60,000 square feet in what was once an old grain mill and includes a four-story, 25,000-square-foot production facility, an outdoor beer garden and a restaurant. A parking lot with room for up to 210 cars is also included on the six-acre site.
Last year, Tupps produced around 11,000 barrels of beer. The new facility pushes the brewer’s capacity to upward of 50,000 barrels, pending the addition of more tanks.
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USA, ME: Argenta Brewing to open its doors in Portland on February 23
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Argenta Brewing is scheduled to open on Friday, February 23. They’re located at 82 Hanover Street, Portland, in the space formerly occupied by the Banded Brewing tasting room, the Portland Food Map reported on February 20.
Brewer/owner Ryan Dunlap is specializing in lager style beers. The beer list at last weekends industry event included 4 lagers as well as a radler, popcorn and mixed nuts.
Argenta will be open Tuesday through Sunday, 2 – 9 pm.
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USA, AR: Flyway Brewing Company to take over High Cotton Brewing Co. and the former Edge Alley restaurant space
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Things are brewing in the Edge District.
Flyway Brewing Company, a North Little Rock-based brewery, will take over the existing High Cotton Brewing Co. and the former Edge Alley restaurant space on Monroe Avenue, The Commercial Appeal reported on February 22.
Flyway and the ownership group behind City Silo are leading the brewpub’s expansion into Memphis. High Cotton President Ross Avery will have an ownership stake in the new venture, too.
Flyway is a 10-barrel microbrewery near the banks of the Arkansas River, in the heart of the Argenta Arts District of North Little Rock, Arkansas. Signature beers include its Bluewing Berry Wheat Ale.
“High Cotton’s contributions and innovations to Memphis' brewing scene are invaluable, and we will continue that legacy,” said Scott Tashie, owner and founder of City Silo. “We're committed to celebrating the staple brews that hold significance within our community and are proud to continue serving the crowd-favorite High Cotton Mexican Lager, among others.”
The existing brewery and taproom will undergo a renovation and expansion under its new ownership, offering a mix of the two breweries’ diverse selections.
“Memphis has a vibrant beer scene with a growing number of breweries and beer enthusiasts who appreciate the artistry and creativity that goes into brewing
...More info on site
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USA, NY: Market Street Brewing Company shutting down operations after over 25 years in business
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An iconic brewery and restaurant in Corning has announced its closure after over 25 years in business, WENY reported on February 21.
Market Street Brewing Company announced on its Facebook page that they would be shutting down operations indefinitely. In a parting message, Market Street Brewing Company thanked its patrons, customers, and crew members that supported them along the way.
The brew pub first started brewing beer in 1997, when micro breweries were a novel concept. It is currently unknown what will happen to the existing establishment that the brew pub currently resides in.
The building is currently listed for sale for $569,000.
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USA, NC: The DreamChaser’s Brewery to close in early March
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The DreamChaser’s Brewery, a gathering spot for craft beer drinkers in Waxhaw, has announced it is closing in early March, the Charlotte Observer reported on February 20.
“With heavy hearts we have to announce the closure of The DreamChaser’s Brewery,” the brewery posted on Instagram. “This is not something we wanted and we had hoped to keep our legacy going but unfortunately due to forces out of our control our journey has come to an end.”
The closing date is tentatively set March 3 for the bar, with takeout service for beer and growler fills slated to close up March 10 or earlier, if supplies sell out.
The brewery owned by Neil and Anita Gimon opened in May 2016.
“Over the years we have built something truly special in this community; DreamChaser’s has always been a place for everyone to gather in a place that feels like home. We have been a staple in Waxhaw for the past 7 and 1/2 years and we will treasure all of our memories we have created with every person who has walked through our door,” the post continued.
“Lifelong friendships have blossomed in our taproom and love has grown. We have celebrated weddings, birthdays
...More info on site
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USA, IN: Scarlet Lane Brewing to close its brewpub after only a year of business
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A brewery and restaurant in the heart of the Irvington neighborhood is closing its doors after only a year of business, WRTV reported on February 22.
Scarlet Lane Brewing Company announced on social media that it will close after this weekend.
This excerpt from the post explains the closure: "The current market forces working against the industry every day are taking a toll on us financially and mentally and it is simply not sustainable, for us at least, for our health and business."
The location opened in the space that formerly housed Black Acre Brewing, which closed last year after more than a decade of business.
Scarlet Lane also closed brewpubs in the Kennedy-King and SoBro neighborhoods of Indianapolis earlier this winter. Its Beech Grove and McCordsville locations will remain open.
Kim Doyle manages The Med, a Mediterranean restaurant in the same building as Scarlet Lane's Irvington location. She said Scarlet Lane's closure should remind customers how difficult the restaurant industry has become.
"It's tough for everyone right now," Doyle said. "I try to venture out and do my part and eat at local restaurants."
Calleigh Smith of the Indiana Licensed Beverage Association echoed those sentiments.
"There's increasing costs," Smith said. "We have seen food prices increase more
...More info on site
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Japan: Asahi hopes massive group restructure will enhance advantages across four key markets
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Japanese beer giant Asahi is hopeful that its recently-completed large-scale group restructuring strategy to establish individual regional headquarters will maximise its competitive advantages across
...More info on site
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Austria: Brewers Association reports satisfactory sector results in 2023
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Austria’s beer industry recorded a satisfactory result in 2023: total output (including zero-alcohol beer) amounted to 9.98 mln hl, which is close to the
...More info on site
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UK: New project aims at boosting UK hop industry and creating environmentally resilient varieites
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A pioneering collaborative project between University of Kent researchers and Wye Hops alongside the National Institute of Agricultural Botany (NIAB), the British Hop Association, The Hop Plant Company and LGC genomics has been awarded over half a million pounds to develop environmentally resilient “super hop” varieties, Farming Life reported on February 22.
The £574k five-year project will involve Dr Helen Cockerton, Industrial Research Fellow at the University’s School of Biosciences, working closely with Hop Breeder Dr Klara Hajdu on genetic informed breeding to create hop varieties which are more resilient to drought, pests, and diseases.
Hops give beer its distinct aroma, flavour and bitterness and are an essential ingredient in the UK’s £10 billion brewing industry. The UK was once the leading supplier of the industry’s hops but when lighter Pale Ales and Indian Ales became fashionable in the 1800s, UK growers struggled to compete against foreign competitors, especially when UK hops were falsely purported to be of inferior quality.
There is huge potential for UK-grown hops – of which 50% are grown in county Kent – to regain a leading status within the UK brewing industry but to do so, hop growers need to overcome a series of major challenges. Verticillium wilt,
...More info on site
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USA: On-premise beer sales soar during this year’s Super Bowl
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The South Korean whiskey market is showing signs of slowing down, leading to restructuring and changes after soaring for nearly three years. The domestic
...More info on site
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Ireland: Malting barley in demand for Irish drinks industry
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Ireland’s barley growers have managed to overcome seed supply issues to plant the 300,000t of malting barley needed each year to supply the Irish drinks sector in 2024, attendees at the Teagasc Boortmalt Malting Barley Conference heard on February 20, the Irish Examiner reported.
The tillage sector has known for some time there are issues with barley seed supply in 2024. However, despite this, the malting sector has secured sufficient quantities to grow the required tonnage in 2024.
Eoin McDonald, an agronomist from Cooladine Farms Ltd, said: “The industry moved early to secure seed supplies, and we are confident it is sufficient. However, we are conscious of the overall seed shortage and are encouraging growers to plant in excellent soil conditions to make the most of the available seed.”
Jonathan Roberts, a procurement manager in Boortmalt, told the conference the demand for malting barley is growing every year. Jonathan Roberts said: “The growth in the drinks industry is continuing, and our customers are delighted with the quality of Irish barley”.
However, he added there are sustainability requests coming through the supply chain, particularly around carbon footprinting.
“Consumer demands and corporate responsibility in the area of sustainability, especially around carbon footprinting, is becoming a
...More info on site
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South Korea: Diageo, Heineken slash Korean workforces
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The Korean units of multinational liquor companies like Diageo are slashing their workforces due to the downturn in a whiskey market that saw a brief rebound during the pandemic, the Korea JoongAng Daily reported on February 22.
Diageo Korea, Korea's leading whiskey importer, is currently rolling out a voluntary retirement program as part of a downsizing effort. The program targets employees with more than 10 years of service. Diageo Korea is offering participants severance pay equivalent to eight to 36 months' salary.
While Diageo Korea frames this initiative as a “voluntary measure to support employees in making suitable career choices,” industry observers perceive it as a response to declining whiskey demand and performance concerns.
Korea's whiskey imports totaled 2,032 tons last month, according to data from the Korea Customs Service, marking a 27.5 percent on-year decrease. Import value also plummeted from $278 million last January to $18.4 million this January.
Experts suggest that the whiskey trend, which surged during the Covid-19 pandemic, has now plateaued. Still, that surge represents a phase of whiskey becoming more mainstream, with consumers diversifying their preferences across various whiskey varieties.
“Amid the Covid-19 pandemic, whiskey experienced a surge in popularity in Korea from late 2022 to
...More info on site
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