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E-Malt.com Newsletter 09b
February 29 - March 03, 2024
Quote of the Week
Anyone can drink beer, but it takes an intelligence to enjoy beer.
Stephen Beaumont
Currency Rates
Base Currency: US Dollar
on March 01, 2024 |
Base Currency: Canadian Dollar
on March 01, 2024 |
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1 USD = 0.9236 EUR
1 USD = 0.7905 GBP
1 USD = 1.3575 CAD
1 USD = 1.5372 AUD
1 USD = 149.9130 JPY
1 USD = 4.9702 BRL
1 USD = 91.3354 RUB
1 USD = 7.1912 CNY
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1 CAD = 0.7365 USD
1 CAD = 0.5822 GBP
1 CAD = 0.6802 EUR
1 CAD = 1.1322 AUD
1 CAD = 110.4170 JPY
1 CAD = 3.6607 BRL
1 CAD = 67.2719 RUB
1 CAD = 5.2966 CNY
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Currency Rates Chart
Equities of the Largest Breweries
USA: AB InBev reaches tentative deal with union, Molson Coors strike continues
...Click here
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USA, WI: Wisconsin farmers tapping into malting barley
...Click here
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Canada: Feed barley bids stuck in a steady downtrend
...Click here
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USA, TN: Common Law Brewing announces permanent closure
...Click here
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World: AB InBev records increase in 2023 revenue in spite of dip in US sales
...Click here
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UK: Bairds Malt announces Inverness plant expansion
...Click here
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Brazil: Ambev sees 10.9% decline in Q4 net profit as total volumes were slightly down
...Click here
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World: World barley balance sheet still remains comfortable despite smaller crop in 2023
...Click here
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Nigeria: Heineken sells 86.5% stake in Champion Breweries to EnjoyCorp Limited
...Click here
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EU & UK: Concerns raising about timely planting of 2024 spring barley crop
...Click here
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Chile: Compania Cervecerias Unidas SA reports results for the quarter ended in December
...Click here
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Japan: Non-alcoholic beer consumption up more than 20% since 2018 in Japan
...Click here
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Kenya: Guinness trials a revolutionary technology in Kenya
...Click here
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Graph of the Week
Table of the Week
Asia Barley Imports, Production, Consumption, and Stocks
Prices Evolution
Barley Prices
Theoretical Malt Prices
These Days in Business History
29 February
1504 - Columbus uses a lunar eclipse to frighten hostile Jamaican Indians
1908 - Dutch scientists produce solid helium
1988 - As the junk-bond fueled takeover craze nears its peak, Wall Street has one of its biggest deal-days of all time
2012 - Tokyo Skytree construction completed. Now it is the tallest tower in the world, 634 meters high, and second tallest (man-made) structure on Earth, next to Burj Khalifa
01 March
1867 - Howard University chartered, Washington D.C
1927 - Bank of Italy becomes a National Bank
1947 - International Monetary Fund begins operation
02 March
1809 - The earliest known bank failure in the U.S. is reported when the Farmers Exchange Bank of Glocester, R.I., goes bust after issuing $800,000 in fraudulent loans against total capital of $45
2000 - Wall Street creates what may be the most worthless company of all time. 3Com Corp. spins off 23 million shares of Palm, Inc. on NASDAQ at an initial price of $38
2000 - Shares in MicroStrategy Inc., a hot software consulting firm, fall from $246.75 to $86.75 in a single day as chairman Michael Saylor announces that the company will have to slash its reported revenues and earnings for the past two years
03 March
1885 - American Telephone and Telegraph (AT&T) incorporates
1979 - Meeting in Geneva, OPEC declares that its members will raise the price of crude oil 9% in a single leap, from $13.34 to $14.55, igniting another round of global inflation
2000 - On the same day, technology stocks set a record for industry representation in the Standard & Poor's 500-stock index, at 34.9%, and Cisco Systems, Inc. becomes the world's most valuable corporation, with a total market value of $548 billion
Agenda
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
 USA: Spirits exports up 8% in 2023
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Spirits exports rose 8% in 2023 to $2.2 billion, according to the Distilled Spirits Council of the United States, following the European Union's suspension
...More info on site
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USA: AB InBev reaches tentative deal with union, Molson Coors strike continues
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Top U.S. brewer Anheuser-Busch InBev reached a five-year tentative labor deal with Teamsters that significantly raises pay, improves healthcare and retirement benefits, and provides job security for all 5,000 union members working at its breweries nationwide, the Seeking Alpha reported on February 29.
The new contract includes wage increases of $8/hour, average pay hikes totaling 23% over the length of the deal, a $2,500 ratification bonus for every member, and an end to two-tier healthcare. The union will vote to ratify the deal next week.
"After a long day and a longer campaign, we've reached an agreement that sets a new high standard for the brewing industry," said Teamsters General President Sean O'Brien.
The deal "continues to recognize the talent, dedication, and hard work of our teams, while also positioning the company for long-term success," said AB InBev (BUD) CEO Brendan Whitworth.
The Budweiser brewer is not alone in facing union heat. Last week, 400 Teamsters members went on strike at a Texas brewery owned by Molson Coors (TAP), the second largest U.S. brewer.
"Teamsters continue to hold the line in Texas for a fair contract, but Molson Coors (TAP) should pay close attention to the bar we've set for brewery workers," said O'Brien.
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USA, WI: Wisconsin farmers tapping into malting barley
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Jim Pingel has raised four kids on his farm in Chippewa County. He had about 100 head of dairy cattle—40 that he milked up until about 2000. He’s grown corn, soybeans, a little rye, some oats, and some hay in his five decades of farming. Now, he’s looking into something a little out of the ordinary to add to his crop rotation, UpNorthNews reported on February 21.
“Farmers like to do something a little different—a new challenge,” Pingel said. “We grow corn and soybeans—yeah, we got that recipe—we do that every year, it doesn’t change much. This is an option to try something else.”
While Pingel enjoys an occasional beer or two after a hard day’s work on the farm, that’s not why he’s been chatting it up with the local brewer. It’s business.
“They would like to have local-grown barley as that ‘local factor’ so when they say ‘local beer,’ they can say, ‘Yeah, the barley was sourced from fields around here!’” said Pingel.
Wisconsin was a leading barley state from the late 1800s until the early 1940s. Farmers eventually shifted to corn and soybeans. Much of the barley that’s produced now is used for cattle feed. According to the USDA a few
...More info on site
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USA, WI: Karben4 Brewing files for bankruptcy
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Citing a recent downturn in the craft beer industry, Madison brewery and taproom Karben4 Brewing has filed for bankruptcy but will stay open, The Cap Times reported on February 29.
Founded in 2012 by brothers Ryan and Zak Koga and their childhood friend Alex Evans, Karben4 is famous for its Fantasy Factory IPA, whose label features a gun-toting cat riding a fire-breathing unicorn.
The company, at 3698 Kinsman Blvd. near the Dane County Regional Airport, has struggled to recover from the financial tumult of the COVID-19 pandemic and from a lawsuit by Evans, attorney Jerry Kerkman said.
The business filed for Chapter 11 bankruptcy on Feb. 26 and has already received approval for its initial requests, allowing the company to pay its 22 employees, honor gift cards and continue using its bank account.
Zak Koga told the bankruptcy court that by 2019, Karben4’s gross revenue was nearly $4 million. “Before the pandemic, the business essentially broke even on an operating basis,” Koga said in a court filing.
But the pandemic temporarily shuttered the taproom and wiped out keg sales, one of Karben4’s most profitable offerings. The company adapted by holding drive-thru sales, and it received an Economic Injury Disaster Loan from
...More info on site
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Canada: Feed barley bids stuck in a steady downtrend
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The Western Canadian feed market remains under pressure, with barley bids stuck in a steady downtrend, Farmtario reported on February 28.
“Barley continues to decline slightly week after week and even day to day,” said Alberta-based Agfinity in a Feb. 29 market report. Large barley stocks and continued imports of corn from the United States accounted for the weakness, according to the brokerage, with any pricing opportunities quickly filled by growers before they disappear.
Agfinity placed current barley pricing in Lethbridge at around C$265 per tonne for March/April delivery, with pricing C$10 above that for May to July delivery. New crop bids were pegged at C$275 to C$280 per tonne.
Prices for barley delivered into southern Alberta have gone down by about C$7 to C$8 per bushel over the past week, according to Prairie Ag Hotwire data.
U.S. Department of Agriculture export data for the week ended Feb. 22 shows that Canada has already imported 564,900 tonnes of U.S. corn during the marketing year that began Sept. 1. That’s roughly double the accumulated imports at the same time the previous year. There are an additional 242,600 tonnes of corn on the books slated to move later in the crop year – which compares with
...More info on site
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USA, TN: Common Law Brewing announces permanent closure
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Common Law Brewing, a brewery that opened two years ago in Spring Hill, has announced they have closed for business, the Williamson County Source reported on February 28.
In a social media post, they shared, “When we started Common Law, it was just a dream in a garage. For two years, you all helped to make that dream a reality. Unfortunately, it is a dream that has now come to an end. We are not reopening, and we have already ceased production of beer. Thank you all for your support. Opening a small business is a huge risk, but we made so many new friends along the way. Cheers!”
The brewery had previously announced it was closing for renovations at the end of December but would reopen sometime in January.
Brad Eldridge-Smith and Mark Valencia are the founders of Common Law Brewing. The pair started making beer in Eldridge-Smith’s garage after meeting through a home brewing group. With a focus on traditional American beer styles, they also offered unique flavors into the brew, often using local sources.
Common Law Brewing was located at 4825 Main Street, Spring Hill.
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World: AB InBev records increase in 2023 revenue in spite of dip in US sales
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Hiking beer prices led Budweiser owner Anheuser-Busch InBev to profit and revenue growth last year, even though U.S. sales of staple brand Bud Light
...More info on site
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UK: Bairds Malt announces Inverness plant expansion
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Further expansion plans worth up to tens of millions of pounds and creating new jobs have been announced at a state-of-the-art malting plant in
...More info on site
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Brazil: Ambev sees 10.9% decline in Q4 net profit as total volumes were slightly down
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Brazilian brewer Ambev reported on February 29 a decline of 10.9% in fourth-quarter net profit, missing market forecasts as total volumes were down slightly
...More info on site
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World: World barley balance sheet still remains comfortable despite smaller crop in 2023
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Although crop 2023 production at 142.6 mln tonnes is nearly 10 mln tonnes lower than crop 2022, the balance sheet remains comfortable, despite production
...More info on site
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Nigeria: Heineken sells 86.5% stake in Champion Breweries to EnjoyCorp Limited
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In a significant move, EnjoyCorp Limited has announced its acquisition of an 86.5% stake in Champion Breweries Plc from Heineken B.V., marking its ambitious
...More info on site
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EU & UK: Concerns raising about timely planting of 2024 spring barley crop
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Crop 2023 barley production at 54.5 mln tonnes, a drop of 4.3 mln tonnes from crop 2022, has tightened the malting barley balance sheet
...More info on site
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Chile: Compania Cervecerias Unidas SA reports results for the quarter ended in December
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Compania Cervecerias Unidas (CCU) on February 27 reported fourth-quarter earnings of $46.6 million, the Washington Post said.
On a per-share basis, the Santiago, Chile-based company
...More info on site
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Japan: Non-alcoholic beer consumption up more than 20% since 2018 in Japan
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Out of all the alternatives to alcohol, non-alcoholic beer has so far made the greatest inroads.
Whether it’s the rise of specialists like Athletic Brewing
...More info on site
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Kenya: Guinness trials a revolutionary technology in Kenya
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For over 270 years, the iconic Guinness stout has been synonymous with a rich, creamy head and a smooth, satisfying taste. But achieving that perfect pint in a bustling pub or local bar, especially in hot climates like Africa, has often proven a challenge, Capital News reported on March 1.
Enter the MicroDraught and Plug and Pour systems, Guinness’s latest technological innovation that have undergone trials in five bars in Nairobi, the first in the world. These revolutionary draught systems promise to deliver the consistent, high-quality Guinness experience across the continent, from bustling city bars to remote villages.
The MicroDraught machine, roughly the size of a microwave, utilizes nitrogen canisters to pressurize and dispense Guinness kegs. This eliminates the need for bulky carbon dioxide tanks and complex gas lines, making it ideal for smaller venues with limited space.
Additionally, the MicroDraught system maintains a consistent serving temperature and pressure, ensuring a perfect pour every time.a compact and energy-efficient unit, represents a significant departure from traditional bulky draught systems.
Its smaller footprint makes it ideal for smaller establishments and remote locations, previously unable to offer Guinness on tap due to space or infrastructure limitations. “It’s meant to be placed on your table for all servings,”
...More info on site
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Ukraine: Ukraine starts spring barley sowing
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Agricultural enterprises of Vinnytsia, Mykolayiv, Odesa, and Kherson Regions have started spring sowing of grain and leguminous crops, ukranews.com reported on March 1.
This follows from a statement by the Ministry of Agrarian Policy and Food, the Ukrainian News agency reports.
"Wheat, barley, and peas are being sown. As of the end of February, 22,300 hectares have already been sown. Of them, 800 hectares of wheat, 11,400 hectares of barley, and 10.2 hectares of peas," the message says.
In particular, in the Odesa Region, farmers sowed 7,800 hectares of barley and 7,100 hectares of peas; in the Mykolayiv Region – 3,500 hectares of barley and 2,400 hectares of peas; in the Vinnytsia Region – 800 hectares of wheat and 500 hectares of peas, in the Kherson Region - 50 hectares of barley and 150 hectares of peas.
As the Ukrainian News agency earlier reported, in 2023, Ukrainian farmers harvested more than 70 million tonnes of grain and oil crops and exported products worth almost USD 22 billion.
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