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E-Malt.com Flash 11a
March 11 - March 17, 2024
Quote of the Week
The elevator to success is out of order. You'll have to use the stairs, one step at a time.
Joe Girard
Currency Rates
Base Currency: Euro
on March 15, 2024 |
Base Currency: US Dollar
on March 15, 2024 |
| |
1 EUR = 1.0918 USD
1 EUR = 0.8543 GBP
1 EUR = 1.4733 CAD
1 EUR = 1.6533 AUD
1 EUR = 161.5750 JPY
1 EUR = 5.4320 BRL
1 EUR = 99.7139 RUB
1 EUR = 7.8486 CNY
|
|
1 USD = 0.9158 EUR
1 USD = 0.7825 GBP
1 USD = 1.3495 CAD
1 USD = 1.5142 AUD
1 USD = 147.9840 JPY
1 USD = 4.9754 BRL
1 USD = 91.3318 RUB
1 USD = 7.1888 CNY
|
Currency Rates Chart
Equities of the Largest Breweries
Average Market Prices Change Trend
| March 15, 2024 |
French Barley/Malt
Crop 2023
Bulk |
EUR/T |
% |
| 2RS Malting Barley (FOB Creil) |
281.00-283.00 |  8.05% |
| 6RW Malting Barley (FOB Creil) |
182.00-184.00 |  |
Feed Barley (FOB Creil) |
164.00-166.00 | 2.48% |
| 2RS Malt (FOB Antwerp) |
627.50-629.50 | 4.29% |
| 6RW Malt (FOB Antwerp) |
663.50-665.50 | 4.05% |
French Barley/Malt
Crop 2024
Bulk |
EUR/T |
% |
| 2RS Malting Barley (FOB Creil) |
249.00-251.00 | 4.17% |
| 6RW Malting Barley (FOB Creil) |
214.00-216.00 | 2.87% |
| 2RS Malt (FOB Antwerp) |
595.00-597.00 | 2.11% |
| 6RW Malt (FOB Antwerp) |
552.00-554.00 | 1.35% |
German Malting Barley
Crop 2023
Bulk
Ex Farm |
EUR/T |
% |
| Average Malting Barley Price |
257.50-259.50 |  0.62% |
 No change;
 Price increase;
 Price decrease versus last publication.
|
Click here to see our Market Prices History.
World: Barley trade forecast for 2023-24 increased to 28.54 mln tonnes
...Click here
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France: Farm office lowers soft wheat exports, raises barley shipments forecast
...Click here
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Australia: Farmers should make more money on their crops in 2024/25, analysts say
...Click here
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South Africa: Liquor industry shows remarkable 19.4% increase in annual sales
...Click here
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Canada: Finance minister announces tax relief aimed at small breweries
...Click here
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Australia: Malting barley exports down 30% in January
...Click here
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France: State of wheat crop declines, winter barley conditions seen at their poorest since 2020
...Click here
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Nigeria: Nigerian Breweries announces yet another price hike
...Click here
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India: Heineken’s United Breweries Limited launches Queenfisher beer in India
...Click here
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Belgium: AB InBev relaunching production of historic Piedboeuf lager
...Click here
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USA: Constellation Brands, Grupo Modelo spar over definition of beer at US appeals court
...Click here
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India: United Breweries shares trading lower despite launch of new beer in Karnataka
...Click here
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Canada: Feed barley prices increase over last two weeks
...Click here
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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
11 March
1702 - 1st English daily newspaper "Daily Courant," publishes
1935 - Bank of Canada opens
1986 - 187.27 million shares traded in New York Stock Exchange
12 March
1365 - University of Vienna founded
1970 - Digital Equipment Corporation introduces PDP-11 minicomputer
1986 - 210.25 million shares traded in New York Stock Exchange
13 March
1974 - Charles de Gaulle Airport opens near Paris France
1979 - European Monetary System is established, ECU created
1986 - Microsoft Corp. goes public at an initial offering price of $21 a share, raising $61 million just one day after Oracle Corp.'s own IPO. Microsoft closes the day at $28.
2008 - Gold prices on the New York Mercantile Exchange hit $1,000 per ounce for the first time
14 March
1634 - Academie Francaise opens
1821 - On one of the quietest days in Wall Street history, the market is open, but not a single share of stock changes hands
1950 - General Motors reports net earnings of $656,434,232 (record)
15 March
1817 - The New York Stock Exchange officially prohibits the "fictitious sales," or wash sales, that had enabled speculators to manipulate individual stocks without even owning them
1827 - University of Toronto is chartered
1892 - 1st escalator patented by inventor Jesse W. Reno (New York City)
1906 - Rolls-Royce Limited is incorporated
1933 - Polythene discovered by Reginald Gibson and Eric William Fawcett
1935 - Percy Shaw founded his company Reflecting Roadstuds Limited to make cat's eyes
1985 - The first Internet domain name is registered
16 March
1915 - United States Trade Commission organizes
1933 - President Franklin D. Roosevelt takes the U.S. off the gold standard, removing the yellow metal from coinage and circulation, even banning it as a collectible
1987 - IBM releases PC-DOS version 3.3
2014 - Crimea votes in a controversial referendum to secede from Ukraine to join Russia
17 March
1845 - Bristol man, Henry Jones, patents self-raising flour
1968 - 2-tiered gold price negotiated in Washington D.C. by U.S. and 6 European nations
1997 - CNN begins spanish broadcasts
Agenda
March 2024:
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)
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Brewery News
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Canada: Finance minister announces tax relief aimed at small breweries
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Canada’s finance minister announced tax relief aimed at the country’s small breweries ahead of a deadline that would have seen certain duties on domestic beer, wine and spirits more than double, Bloomberg reported on March 9.
The government is proposing to cap an inflation adjustment for excise taxes charged on domestically produced beer, spirits and wine at 2% for the next two years, Chrystia Freeland said in a statement on March 9, extending a similar limit implemented last year. It was previously set to increase to 4.7% as of April 1.
Ottawa will also cut by half the excise duty rate on the first 15,000 hectoliters (264,150 cases) of beer brewed in Canada for two years. This should give craft brewers an average of about C$87,000 ($64,500) in tax relief, according to the statement. Some 94% of Canadian brewers have total production below that level.
The changes will cost the government C$153 million over two years, according to the Department of Finance, which said they “will be included in a legislative vehicle soon.”
Excise taxes are imposed on alcohol and tobacco products produced domestically and are charged to producers at the time of packaging, a parallel system to the duties imposed on imported products.
The
...More info on site
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Nigeria: Nigerian Breweries announces yet another price hike
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Nigerian Breweries Plc has announced yet another increment in the price of its products after the last increase in February, Vanguard News reported on March 11.
Recall the company issued a new price review notification to all its customers in the West Zone last month.
In February, its price hike premised on rising production costs and the need to insulate the company against it.
According to the report then, it was the third upward price review in a year.
In a letter dated Monday, February 12, 2024, the price review, effective from Monday, February 19, 2024, is deemed necessary to offset the impact of increased production expenses.
Meanwhile, on Monday, March 11, another press statement dated March 8, 2024, was sent to customers around the West zone and signed by its zonal business manager, Lekan Awosanya, announcing a new price increase.
Per the notice, the latest price review is premised on the need to mitigate the impact of rising input costs.
The statement read, “As earlier informed we will review the prices of some of our SKUs effective Friday 15th March 2024. This review has become necessary because of the continued rising input cost and the need to mitigate the impact.
“All open orders in our system at
...More info on site
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India: Heineken’s United Breweries Limited launches Queenfisher beer in India
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Heineken’s United Breweries Limited (UBL) has launched a new beer in India, named Queenfisher, via its Kingfisher brand, The Drinks Business reported on March 14.
The new lager, which is being positioned as “a celebration of sisterhood amidst International Women’s Day and Women’s History Month, uses the slogan “Queen of Good Times” and will be priced at INR80 per 500ml can.
A marketing campaign created by Heineken’s UBL arm will support the launch of Queenfisher beer to offer “a fresh perspective on the iconic calendar, now reimagined as the galendar” which “captures real-life stories of women”.
The ‘galender’ features photographs taken by Avani Rai and includes a QR code on each page which, upon scanning, shows “the unique moments of sisterhood…as captured in films by the director Kopal Naithani”.
According to a statement released by the company: ”Queenfisher beer is an all-women initiative right from formulating the limited-edition Queenfisher can to it being brewed by women brewers”.
The packaging of Queenfisher “embodies inclusivity, featuring silhouettes of diverse women against a vibrant purple backdrop, with the iconic bird uplifted and crowned in homage to the queens celebrated through this campaign”.
Speaking about the brand variant, a spokesperson for the beer giant additionally stated: “Rooted in the ethos
...More info on site
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Belgium: AB InBev relaunching production of historic Piedboeuf lager
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AB InBev is launching a third pilsner brand in the Belgian market, the historical Piedboeuf Extra Pils, The Brussels Times reported on March 10.
The Piedboeuf family joined the brewing industry in Jupille, in 1887, setting up their own brewery which would later introduce Jupiler in the 1960s.
Piedboeuf Extra Pils only hit the market after the Second World War, about two decades before Jupiler. Jupiler’s renowned success likely accelerated the end of its older counterpart, which disappeared in the 1970s.
"But Piedboeuf remains a strong brand, especially in the Liège region," an AB InBev spokesperson explained the product’s revival. Despite numerous similar beers in its portfolio, the Belgian subsidiary of the brewing giant believes this resurrection supplements the current beer offering.
Positioned at 4.5% ABV, Extra Pils is at the crossroads of light pilsners like Jupiler Blue (4%) and classic heavyweights of the Belgian market, which stand at 5.2%. "We’re targeting a different audience with Extra Pils," added the spokesperson.
The product may appeal to the segment of the public who never believed in Jupiler Pure Blonde, a "light" pilsner (3.1%), launched in spring 2018, but no longer in production today.
Available in 33 and 50-centilitre cans, Piedboeuf lager will not be available in pubs
...More info on site
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USA: Constellation Brands, Grupo Modelo spar over definition of beer at US appeals court
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Constellation Brands and Anheuser Busch InBev's Grupo Modelo sparred over the definition of beer at a U.S. appeals court on March 12, as Grupo Modelo seeks to revive a lawsuit claiming Constellation's Corona and Modelo hard seltzers violate its trademark rights, Reuters reported.
Judges at the 2nd U.S. Circuit Court of Appeals in Manhattan grilled attorneys for both sides over the scope of the term "beer" in the companies' distribution contract. The panel appeared inclined to favor Constellation's interpretation and uphold the verdict.
"You two have been driving me and my clerks crazy," Senior U.S. Circuit Judge Richard Wesley said. "Only lawyers can argue about what is the meaning of beer."
InBev in 2013 purchased Mexico-based Modelo, whose beers Constellation distributes in the United States. Modelo sued Constellation in 2021, claiming its Corona Hard Seltzer and Modelo Ranch Water breached their contract and infringed Modelo's trademarks.
Modelo said that Constellation's distribution agreement only allows it to sell beer and malt beverages with Modelo's branding. Constellation argued that the agreement's definitions of "beer" and "malt beverages" also cover its hard seltzers.
A federal jury in Manhattan agreed with Constellation last year that the contract encompasses its Modelo-branded drinks. Wesley questioned Modelo's argument on March 12 that
...More info on site
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India: United Breweries shares trading lower despite launch of new beer in Karnataka
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Shares of United Breweries Ltd were trading in the red and 1% lower on 11 March despite the launch of a beer brand in Karnataka, Equitypandit reported.
The company announced the launch of Kingfisher Ultra Max draught beer in its premium strong beer category Karnataka after they saw success in Chandigarh and Punjab.
Vikram Bahl, Chief Marketing Officer at United Breweries Limited, said, “The launch of Kingfisher Ultra Max Draught Beer in Karnataka marks a significant milestone in our journey.”
Earlier on 29 February, the company launched its London Pilsner, which is a new standard for pilsner beer in Karnataka that showcases the high quality and rich brewing history behind it. The beer showcases the essence of premium craftsmanship and delivers a distinct flavour profile and captivating senses due to its detailed brewing process.
The beer is priced at Rs 120 for each 650 ml bottle and is readily available at some of the leading outlets across Karnataka.
The beer has been crafted with European hops and is subjected to a week-long ageing process at sub-zero temperature that represents sophisticated and uncompromising quality. Karnataka will be the second market after Maharashtra, where London Pilsner Beer will be available.
At 2:45 pm, the shares of United Breweries
...More info on site
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Barley News
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World: Barley trade forecast for 2023-24 increased to 28.54 mln tonnes
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World barley trade 2023-24 is currently forecast at 28.54 mln tonnes, up from 28.071 in USDA’s February report but lower than 30.376 mln tonnes
...More info on site
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France: Farm office lowers soft wheat exports, raises barley shipments forecast
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Farm office FranceAgriMer on March 13 lowered its outlook for 2023/24 French soft wheat exports, leading it to make another upward revision to its
...More info on site
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Australia: Farmers should make more money on their crops in 2024/25, analysts say
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Australian farmers should make significantly more money on their crops in 2024/25 than in the previous season thanks to a drop in fertilizer and
...More info on site
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Australia: Malting barley exports down 30% in January
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Australia exported 926,723 tonnes of barley and 116,866t of sorghum in January, according to the latest data from the Australian Bureau of Statistics.
The feed
...More info on site
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France: State of wheat crop declines, winter barley conditions seen at their poorest since 2020
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The state of French soft wheat crops declined slightly last week to remain at their worst in four years, data from farm office FranceAgriMer showed on March 15, as fields remained soggy after a wet winter in the European Union's biggest grain producer.
Some 66% of French soft wheat was rated as being in good or excellent condition by March 11, down from 68% a week earlier, FranceAgriMer said in a cereal report.
That was the lowest rating for the period since 2020, when 63% of soft wheat was rated good/excellent in another season marked by wet weather.
Heavy rain since autumn has disrupted planting and early crop development in France and other parts of western Europe. The wet weather led Strategie Grains analysts this week to cut its forecasts for 2024 soft wheat and barley production in the EU.
FranceAgriMer also estimated that winter barley conditions were at their poorest since 2020, with 68% of crops rated good/excellent, down slightly from 69% the previous week.
Sowing of spring barley picked up after hardly progressing in previous weeks, with 39% of the expected area sown against 28% a week earlier, FranceAgriMer's report showed.
But spring barley sowing remained well behind both a year-earlier level of 99%
...More info on site
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Canada: Feed barley prices increase over last two weeks
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Seasonal trends and rising corn prices have underpinned the feed grain market in Western Canada over the past few weeks, although ample supplies will likely limit the upside going forward, Grainews reported on March 14.
Barley trading into the key livestock feeding area around Lethbridge, Alta. has increased by about C$10 per tonne over the past two weeks to hit levels around C$280 per tonne, according to Jim Beusekom of Market Place Commodities in Lethbridge.
He said the gains were “lockstep” with the U.S. corn market, although cautioned that little had changed on the fundamental side.
“Just logistically on the Prairies, moving grain over the next 60 days will become challenging,” said Beusekom, pointing out that muddy conditions and spring road bans limiting grain movement and causing freight costs to rise were contributing to the nearby strength in the market with expectations that farmers will soon be turning their attention to seeding also providing support.
Looking ahead, Statistics Canada recently forecast a 2.5 per cent decline in barley area in 2024, at 7.1 million acres. However, Beusekom didn’t expect the smaller acreage base would provide much support to prices given the expectations for a large carryout from the 2023/24 marketing year. “We’ll be starting
...More info on site
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Whisky News
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South Africa: Liquor industry shows remarkable 19.4% increase in annual sales
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South Africa's resilient R144bn liquor sector, which weathered the storm of unprecedented global liquor bans during the Covid-19 lockdowns of 2020 and 2021 has
...More info on site
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