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E-Malt.com Newsletter 10b
March 07 - March 10, 2024
Quote of the Week
You can control two things: your work ethic and your attitude about anything.
Ali Krieger
Currency Rates
Base Currency: US Dollar
on March 08, 2024 |
Base Currency: Canadian Dollar
on March 08, 2024 |
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1 USD = 0.9162 EUR
1 USD = 0.7834 GBP
1 USD = 1.3491 CAD
1 USD = 1.5151 AUD
1 USD = 148.1840 JPY
1 USD = 4.9388 BRL
1 USD = 90.8541 RUB
1 USD = 7.1950 CNY
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1 CAD = 0.7412 USD
1 CAD = 0.5807 GBP
1 CAD = 0.6791 EUR
1 CAD = 1.1229 AUD
1 CAD = 109.8280 JPY
1 CAD = 3.6604 BRL
1 CAD = 67.3376 RUB
1 CAD = 5.3327 CNY
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Currency Rates Chart
Equities of the Largest Breweries
USA, IL: Demo Brewing Company holds soft opening in Chicago
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USA & France: Outer Range Brewing Co. launching a new brewery in the French Alps
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USA, SC: BridgeWay Brewing Co. holds grand opening in Simpsonville
...Click here
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USA, FL: Deadwords Brewing reportedly closing next month in Orlando
...Click here
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The Philippines: San Miguel Food and Beverage Inc. sees net income go up by 10% last year, beer earning spike by 8%
...Click here
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Argentina: Sufficient availability of malting barley with a crop of 4.8 mln tonnes
...Click here
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France: Spring barley planting still stalled due to wet weather
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Malaysia: Heineken Malaysia expected to achieve earnings growth in FY2024
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Peru: Heat wave brings increase in beer consumption
...Click here
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Nigeria: Guinness Nigeria’s market value drops by 10% after selloffs
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China: Western whisky producers intent to support China’s market growth by investing in local production
...Click here
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India: Bira 91 raises $25 mln to expand manufacturing footprint
...Click here
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Argentina: Beverage sector one of the most affected by loss of purchasing power
...Click here
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Cambodia: ThaiBev announces incorporation of five Cambodian subsidiaries
...Click here
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Belgium: Duvel restarts production at Antwerp brewery following cyber-attack
...Click here
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Burundi: Brarudi unable to secure raw materials to produce Primus and Amstel beer
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Graph of the Week
Table of the Week
World Use of Hops and Hop Products 1997 - 2023s
Prices Evolution
Barley Prices
Theoretical Malt Prices
These Days in Business History
07 March
1876 - 1876 Alexander Graham Bell receives U.S. Patent for his "Improvement in Telegraphy"
1878 - The Toronto Stock Exchange is incorporated
1932 - Thousands of Ford Motor Co. workers stage a "Hunger March" to the immense River Rouge factory complex, protesting Henry Ford's decision to cut the company's minimum wage from $7 per day to $4 per day
08 March
1706 - Vienna's Wiener Stadtbank established
1927 - Pan American Airlines (World Airways) incorporates
1946 - 1st helicopter licensed for commercial use
1979 - Philips demonstrates the Compact Disc publicly for the first time
09 March
1861 - Confederate currency authorized-$50, $100, $500, $1,000
1959 - 1959 Barbie, the popular girls' doll, debuted, over 800 million sold
1987 - 1987 Chrysler Corp offered to buy American Motors Corp for $1 billion
10 March
1862 - U.S. issues 1st paper money ($5, $10, $20, $50, $100, $500 and $1000)
1982 - President Reagan proclaims economic sanctions against Libya
1995 - Dow-Jones hits record 4035.64
2000 - The Nasdaq Composite stock market index peaks at 5132.52, signaling the beginning of the end of the dot-com boom
Agenda
March 2024:
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)
March 2025:
03 - 07: IBD Asia Pacific Convention 2025 (Hobart, Tasmania)
News Articles
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USA, IL: Demo Brewing Company holds soft opening in Chicago
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The newest addition to Ravenswood’s Malt Row is a nano brewery that’ll serve up an ever-rotating selection of brews — including some beers that are still a work in progress, the Block Club Chicago reported on March 6.
Demo Brewing Company, 1763 W. Berteau Ave., had its soft opening over the weekend ahead of planned grand opening March 29. The debut weekend featured an inaugural lineup of 10 beers brewed by owners Jeffrey Borders and Lucas Irvine.
In the spirit of experimentation, two of the beers are variations on the same recipe. “Sue Me” is a light, crystal clear Kolsch with a slight bite while “Sue Me (Peeled)” puts a twist of citrus on the former recipe by cold filtering the brew with lemon peel and citra hops.
Demo is a nano brewery, which means it produces less beer per year than other beer makers. The owners said they’re leaning into that smaller production scale to frequently change out which beers are on tap to foster experimentation with new recipes. Its website promises the “demo’ing” of a new beer every week.
“When we say the business name, a lot of people think like demolition, like construction. But it’s more like a demo
...More info on site
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USA & France: Outer Range Brewing Co. launching a new brewery in the French Alps
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Outer Range Brewing Co., a prominent figure in Colorado's craft beer scene, has officially opened its doors in the French Alps, marking a significant expansion for the brewery, BNN Breaking reported on March 7.
Nestled at the base of Mont Blanc in Sallanches, France, the new establishment aims to blend the best of American and European brewing cultures, serving both the local community and visitors from nearby resorts. This move not only signifies Outer Range's growth but also its ambition to become an international mountain brewery.
Outer Range Brewing's decision to launch a second location in Sallanches was driven by a desire to immerse itself in the rich brewing culture of Europe while continuing to serve its loyal fan base back in the Rockies. By investing in identical brew systems for both locations, the brewery ensures consistency in its beer production, offering a mix of familiar favorites and new brews inspired by European techniques. The Sallanches location, with its 20,000 square feet of space and breathtaking views of Mont Blanc, offers an unparalleled experience for beer enthusiasts and outdoor lovers alike.
The establishment of the French Alps location is more than just a geographical expansion; it represents a fusion of American innovation
...More info on site
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USA, SC: BridgeWay Brewing Co. holds grand opening in Simpsonville
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BridgeWay Brewing Co. held its grand opening and ribbon cutting in Simpsonville last week, the Greenville Journal reported on March 6.
The brewery is a lifelong dream for its co-owner, Michelle Dodge. Several of Dodge’s family members were also present. The event was held with a beer toast using two in-house brews, the Papa Dodge West Coast IPA and Blue Eyes Blonde.
The brewery served a special menu for the opening, but the full menu was also available.
BridgeWay Brewing is located in Mauldin on BridgeWay Boulevard, just off Interstate 385.
It is open Mondays through Thursdays from 4 to 10 p.m., and Fridays through Sundays from 11 a.m. to 10 p.m.
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USA, FL: Deadwords Brewing reportedly closing next month in Orlando
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Orlando's Deadwords Brewing, which only recently celebrated its two-year anniversary, is reportedly closing next month after filing for Chapter 11 bankruptcy in October, the Orlando Weekly reported on March 6.
Founded by former Darden Restaurants attorney David Satterfield and industry veteran Luke Pridgeon, the brewery at 23 N. Orange Blossom Trail announced Wednesday that the brewery would permanently close its doors on April 27, according to WFTV.
The award-winning craft brewpub, which features an eclectic rotating tap of quality beers, first opened in December 2021.
In a statement, the brewery said their decision to close "follows several months of negotiations with the brewery’s landlord and the inability to reach a feasible arrangement to enable the brewery’s continued operation at its current location.”
“From the outset, Deadwords Brewing embarked on its journey amid the unprecedented global COVID-19 pandemic, facing immense challenges including massive delays, cost overruns and the slow implementation of the Parramore Main Street development program,” the statement continued.
Still, the heart of the brewery, they added, "has always been its people."
“Our incredible staff — passionate about their craft and service — have been the backbone of our operations. We have also been fortunate to be supported by a group of wonderful investors who
...More info on site
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The Philippines: San Miguel Food and Beverage Inc. sees net income go up by 10% last year, beer earning spike by 8%
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The food and beverage unit of San Miguel Corp. reached new heights in 2023 as it raked in an all-time high profit of P38.1
...More info on site
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Argentina: Sufficient availability of malting barley with a crop of 4.8 mln tonnes
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Heavy rains support summer crop development (e.g. corn) in Argentina and improve the areas hit by drought conditions last year, RMI Analytics said in
...More info on site
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France: Spring barley planting still stalled due to wet weather
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Wet weather has stalled spring barley planting in France, posing early risks to production in the EU’s top barley exporter, AHDB reported on March
...More info on site
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Malaysia: Heineken Malaysia expected to achieve earnings growth in FY2024
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Hong Leong Investment Bank (HLIB Research) expects Heineken Malaysia Bhd to achieve earnings growth in the financial year 2024 (FY24), driven by the expectation
...More info on site
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Peru: Heat wave brings increase in beer consumption
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The heat wave in Peru has generated an increase in the consumption of alcoholic beverages in January, FreshlyBottled.com reports.
Although the recession hit beer sales hard last year: not only did beer production fall by 5.1 percent between January and September 2023, but overall household consumption fell, due to the difficult economic situation of the country.
However, thanks to the strong heat wave in these first two months, beer sales have increased up to 50 percent more compared to 2023 data.
The sale of beer corresponds to around 25 percent of winery sales in Peru. According to Andrés Choy, president of the Peruvian Winery Association, to RPP: “Now we are in the summer season and the heat is very strong and there are many people who consume beer as an element to cool off. Our sales have increased by more or less 50 percent during the summer campaign”.
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Nigeria: Guinness Nigeria’s market value drops by 10% after selloffs
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Guinness Nigeria Plc’s market value has dropped by 10% to N100.538 billion on March 7 in the stock market as shareholders took another round of exits following the brewer’s unimpressive earnings performance, MarketForces Africa reported.
The company share price moved against the trend in the stock market trend as investors were hurting after the company posted a loss in the second quarter of its financial year 2024 earnings scorecard.
Its share price declined to N45.9 on Thursday after trading steadied at N51 over the last seven trading sessions on the Nigerian Exchange. Guinness Nigeria’s earnings for the second quarter of 2024 was underwhelming as a result of damage caused by negative exchange rate movement.
Though the company posted a loss, liquidity significantly improved, with Cash and Cash Equivalents surging by 74% to N113.83 billion as of December 2023 compared with N65.42 billion in the corresponding period.
The brewer’s financial showed that finance income grew by 211.1% year on year to N2.49 billion at the end of the second quarter of the financial year 2024 from N801 million in Q2-2023.
However, the growth was eclipsed by a sharp increase in the company’s finance costs to N19.26 billion of which FX losses accounted for 89.7% of the
...More info on site
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China: Western whisky producers intent to support China’s market growth by investing in local production
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At the foot of Mount Emei in the western Chinese province of Sichuan, a sleek new building has taken shape. The tiles on the roof are locally sourced, some of the barrels it contains are hewn from indigenous oak and on one of its interior walls, its Chinese name has been written with a single strand of barley dipped in ink, the Financial Times reported on March 5.
Far from Scotland, the home of Scotch, The Chuan is one of around 30 whisky distilleries either completed or under construction in China. The $130mn project for drinks group Pernod Ricard is a sign of western companies’ intent to support the market’s growth by investing in local production of a spirit yet to take off fully with Chinese consumers.
Diageo, another leading global drinks group, is building a distillery in nearby Yunnan province, while Nine Rivers, a crowdfunded distillery in the south-eastern province of Fujian, aims to produce whisky, gin and vodka.
“Any player in the spirit world knows China is one of the key countries worldwide when it comes to spirit culture,” said Jerome Cottin-Bizonne, China head at Pernod Ricard.
“Consumers want diversity,” he added, pointing to an “element of China pride”, which he described
...More info on site
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India: Bira 91 raises $25 mln to expand manufacturing footprint
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B9 Beverages Ltd, brewer Bira 91's parent company, on March 6 said it is raising $25 million in new funding from Tiger Pacific Capital, an Asia-focused fund headquartered in New York and Hong Kong, Business Insider India reported.
The new investment is part of a $50 million round raised by the company, with participation from its existing investor, Kirin Holdings of Japan, and Tiger Pacific Capital from New York, it said in a statement.
"As Bira 91 takes next steps to drive growth across markets and strengthen its supply chain, this new partnership will strengthen the company's balance sheet considerably," said Ankur Jain, Founder and CEO, Bira 91.
With this capital, "we will expand our manufacturing footprint to new regions, including Uttar Pradesh," he added.
The company has six large-scale manufacturing plants in the country.
Bira 91 is now the fourth largest beer company in India, behind only multinationals like Heineken, AB InBev and Carlsberg, and has experienced strong double-digit growth since its inception 9 years ago.
The company also owns the country's largest beer-focused pub chain, The Beer Cafe.
"We are excited to partner with emerging companies in India, especially brands like Bira 91 with a unique understanding of the new Indian consumer, and a strong
...More info on site
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Argentina: Beverage sector one of the most affected by loss of purchasing power
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So far this year, the beverage sector is one of the most affected by the loss of purchasing power of the Argentine currency and the general drop in consumption, FreshlyBottled.com reported.
The Center of Storekeepers and Retailers of the Province of Córdoba has stated that the decrease in the consumption of alcohol-based products mainly affects businesses.
According to a report from the entity's Department of Statistics and Trends, in February a notable decrease was noted in the volume of sales of alcoholic beverages in warehouses, self-service stores and wine bars. Compared to the same month of the previous year, the drop is 35 percent.
The favorite drink of the people of Córdoba, such as the top brand Fernet, suffered a decrease in sales of 53 percent. For their part, white drinks, which include vodka, gin, whiskey, among others, also experienced a notable reduction in demand of 62 percent. In addition, fine wines showed a drop of 27 percent, while wines in their tetra brik format sold 42 percent less.
Meanwhile, sales of beer and soft drinks were also affected, with a drop of 46 percent and 48 percent respectively. One of the reasons that explains this contraction in consumption is the
...More info on site
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Cambodia: ThaiBev announces incorporation of five Cambodian subsidiaries
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ThaiBev announced the incorporation of 5 of its subsidiaries, Cambodia Beverage Pte. Ltd. (CBPL), SEAL Cambodia (SEALC), SEAL (Cambodia) Logistics and Supply Chain (SEALC L&S), Industrial Beverage Pte. Ltd. (IBPL), and ASMI (Cambodia) Industrial Management Co. (ASMIC), the Singapore Business Review reported on March 7.
CBPL was incorporated as an investment holding company to engage in non-alcoholic business in Cambodia. It has an issued share capital of $100,000 comprising $100,000 ordinary shares.
SEALC and SEALC L&S are both engaged in the logistics business in Cambodia with issued share capitals of $3.7m (US$2.8m) and $3.67m (KHR11b) respectively, comprised of ordinary shares.
IBPL and ASMIC are responsible for handling asset management in Cambodia with issued share capitals of $14.7m (US$11m) and $14.65 (US$10.95m) respectively, made up entirely of ordinary shares.
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UK: Breal Group rebrands as Keystone Brewing Group
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Private equity firm Breal Group has rebranded as Keystone Brewing Group following a number of acquisitions in the craft beer space in the past year, The Drinks Business reported on February 27.
The firm, which has purchased Masham-based Black Sheep Brewing, London’s Brick Brewery and Brew by Numbers and Warwickshire’s Purity Brewing in the past year, has made the change to reflect its strategy of purchasing struggling craft breweries.
The London-based firm said it was doing the rebrand to “act as a unifier for each brewery within the group” and it also “aims to articulate its hope for the future of the brewing industry and commitment to supporting and nurturing both established and emerging brands within its portfolio”, it said.
It comes as Breal announced its London breweries Brick and Brew By Numbers (BBNo) are in the process of closing down, with staff being laid off and brew kits being moved to Black Sheep’s site.
The firm has also said invested £1 million into Black Sheep Brewery with the sum going towards a new brewhouse as well as expanding the beer range.
Mark Williams, CEO at Keystone Brewing Group, said the rebrand would “build upon the legacy” of Breal Group, and was “an exciting new
...More info on site
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Belgium: Duvel restarts production at Antwerp brewery following cyber-attack
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Production at the Duvel Moortgat Brewery in Puurs-Sint-Amands (Antwerp) has restarted. Earlier a cyber-attack on Monday night halted production, VRT reported on March 7.
"Hopefully the brewery’s other sites in Antwerp, Oudenaarde and Achouffe will follow soon," a Duvel Moortgat spokesperson says. The cyber-attack is under investigation by the Antwerp public prosecutor's office.
Bottles of Duvel, Vedett and Maredsous are once again rolling off the production line at the Duvel Moortgat brewery in Puurs-Sint-Amands. "Since the cyber-attack, our IT specialists have been doing everything possible to get the other sites in Antwerp (De Koninck), Oudenaarde (Liefmans) and Achouffe (La Chouffe) up and running again quickly," says spokesperson Ellen Aarts. "Visits to city brewery De Koninck in Antwerp will also continue as per usual."
Production of Duvel and other beers had to be halted after a cyber-attack. The brewery's built-in security system quickly raised the alarm, shutting down the servers for safety reasons.
The brewer is remaining tight-lipped about the cyber-attack so as not to jeopardise the ongoing investigation by Antwerp prosecutors.
Duvel Moortgat continues to reassure lovers of its beverages. "We have enough stock to supply everyone with beer. There is no problem for any of our brands."
In the course of Thursday Stormous Group, a
...More info on site
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Burundi: Brarudi unable to secure raw materials to produce Primus and Amstel beer
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Beer in Burundi has significantly become a very difficult product to come across, Taarifa Rwanda reported on March 6.
Faced with increasing isolation, Burundi, ruled with an iron hand is one of the poorest countries in the world.
Burundi’s largest brewer and soft beverage company Brarudi S.A., also known by its French name Brasseries et Limonaderies du Burundi, has become a victim of controversial economic policies the government has put in place.
Brarudi has reported that it is unable to secure raw materials to produce a line of beverage products to the Burundi market.
The brewer said for example it was unable to produce Primus and Amstel beer brands and explains the reason for this shortage.
“The shortage of our products on the market is linked to logistical challenges on a global level following the security crisis in the Red Sea causing delays in the delivery of raw materials. Due to the limited availability of foreign currencies, Brarudi is not able to build up substantial stocks of raw materials to meet these logistical challenges,” explains Brarudi.
Asked what Brarudi is doing to alleviate this situation, the company said, “Brarudi is working with the government and is increasing initiatives to find lasting solutions to this shortage and
...More info on site
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