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E-Malt.com Newsletter 12a
March 18 - March 20, 2024
Quote of the Week
I've always believed that paradise will have my favorite beer on tap.
Rudyard Wheatley
Currency Rates
Base Currency: US Dollar
on March 20, 2024 |
Base Currency: Canadian Dollar
on March 20, 2024 |
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1 USD = 0.9206 EUR
1 USD = 0.7867 GBP
1 USD = 1.3566 CAD
1 USD = 1.5316 AUD
1 USD = 150.3790 JPY
1 USD = 5.0282 BRL
1 USD = 91.1636 RUB
1 USD = 7.1958 CNY
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1 CAD = 0.7370 USD
1 CAD = 0.5798 GBP
1 CAD = 0.6785 EUR
1 CAD = 1.1288 AUD
1 CAD = 110.8330 JPY
1 CAD = 3.7059 BRL
1 CAD = 67.1896 RUB
1 CAD = 5.3035 CNY
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Currency Rates Chart
Equities of the Largest Breweries
USA: AB InBev stock falls as Altria announces plans to sell shares in Bud Light maker
...Click here
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Canada: Canadian farmers intend to plant less barley this year
...Click here
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Canada, BC: CowDog Brew Company becomes Vancouver’s newest brewery
...Click here
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USA, NJ: Bonesaw Brewing Company planning a brewpub at Freehold Raceway Mall
...Click here
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USA, MA: Hannah's Brewing Co. now open in northern suburbs of Boston
...Click here
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USA, FL: Outcast Brewing to debut in former Brutalist Temple of Beer space in St Petersburg
...Click here
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USA, MI: North Center Brewing Co. announces closure
...Click here
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The Netherlands: Holland Malt inaugurates world's first emission-free malthouse in Eemshaven
...Click here
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World: AB InBev continues to dominate global beer market with a market capitalization of over $123 bln
...Click here
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China: China Resources Beer's 2023 net profit rises buoyed up by higher beer sales
...Click here
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World: France malting barley situation attracts increasing interest globally
...Click here
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Vietnam: Beer sales plunge by 11% last year due to tough anti-drunk driving policy
...Click here
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Japan: Kirin Holdings to focus on promoting flagship Kirin Ichiban beer, introduce new brands in pure beer category
...Click here
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EU & UK: Wet weather remains the main concern for barley crop across almost all Europe
...Click here
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UK: Two of Northern Ireland’s biggest alcoholic drinks companies saw surging costs squeeze profits last year
...Click here
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Malaysia: Worst of Carlsberg Brewery Malaysia Bhd’s year-on-year revenue declines is over, analysts say
...Click here
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EU: Wheat futures end week higher on weaker euro, short-covering
...Click here
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Argentina: Beer prices increase in the last six months well above average inflation rate - National Statistics Institute
...Click here
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India: Beer startups expanding and launching new products amid rise in funding
...Click here
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South Korea: Craft beer maker Jeju Beer sells management rights after underperforming
...Click here
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Australia: Brewers monitoring barley fields to ensure beer taste consistency
...Click here
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Brazil: Heineken 0.0 becomes Brazil’s best-selling non-alcoholic beer
...Click here
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UK: Krombacher Brewery launching the Starnberger brand in the UK
...Click here
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Graph of the Week
Table of the Week
South America Barley Production, Import, Consumption, and Ending Stocks
Prices Evolution
Barley Prices
Theoretical Malt Prices
These Days in Business History
18 March
1850 - Henry Wells and William Fargo forms American Express in Buffalo
1938 - Mexico takes control of foreign-owned oil properties
1985 - Capital Cities Communications Inc. acquires ABC
19 March
1775 - Poland and Prussia sign trade agreement
1831 - 1st U.S. bank robbery (City Bank, New York/$245,000)
1965 - Indonesia nationalizes all foreign oil companies
20 March
1886 - 1st AC power plant in U.S. begins commercial operation, Massachusetts
1991 - U.S. forgives $2 billion in loans to Poland
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
Agenda
March 2024:
21 - 23: Warsaw Beer Festival 2024 (Warsaw, Poland)
22 - 24: St Malo Craft Beer Expo 2024 (St Malo, France)
22 - 23: InnBrew 2024 (Barcelona, Spain)
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)
March 2025:
03 - 07: IBD Asia Pacific Convention 2025 (Hobart, Tasmania)
News Articles
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USA: AB InBev stock falls as Altria announces plans to sell shares in Bud Light maker
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American Depositary Receipts (ADRs) of Anheuser-Busch InBev slumped more than 5% on March 14 after Altria slashed part of its 10% stake in the
...More info on site
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Canada: Canadian farmers intend to plant less barley this year
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Canada’s first planted area estimates for the 2024/25 season were released early last week, with the grower survey results indicating the nation’s farmers
...More info on site
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Canada, BC: CowDog Brew Company becomes Vancouver’s newest brewery
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After having lost a couple of breweries over the last year, Vancouver has a new one, Vancouver Is Awesome reported on March 17.
The CowDog Brew Company has officially opened its doors this weekend, after taking over the former location of Callister, which left its East Vancouver home at the end of 2023.
CowDog opened at 1338 Franklin St. in East Vancouver on Friday, March 15, which seems a fitting weekend to start selling beer.
"I want to thank everyone who came out to support us," says Micheal Hodgson, the owner and head brewer of what is essentially a one man show (his wife helps as well), in an Instagram post.
The brewery, named after the Louis (Hodgson's dog, a rescue), leans into the canine theme with beers like Head Tilt Pale Ale, Big Teefs IPA and Two Loaves Wheat Beer (which will feature a corgi).
While CowDog's location is new, Hodgson has been brewing under the CowDog name for years. However, this is the first time he's had his own brick-and-mortar location to work out of.
The Canadian navy veteran told Vancouver Is Awesome previously he was excited, and a little terrified, about launching the new taproom, and finding out what people think.
"They will
...More info on site
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USA, NJ: Bonesaw Brewing Company planning a brewpub at Freehold Raceway Mall
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Bonesaw Brewing Company wants to take over an empty store at Freehold Raceway Mall and open a craft brewery and tasting room, bringing a brewpub to the mall for the first time, the Asbury Park Press reported on March 17..
Bonesaw Brewing, which has locations in Glassboro and Deptford Mall, proposes to open a brewery in the former Kirkland's space, part of Freehold Raceway Mall's lifestyle center. The township Planning Board is set to review the proposal at its meeting on Thursday night.
The space has been vacant since Kirkland's closed in January 2020.
Bonesaw Brewing wants to convert part of the store, 2,097 square feet, for an indoor brewing space, and the remaining 4,800 square feet for an indoor tasting room, according to documents on file with the Planning Board. It also proposes two outdoor seating areas.
At the new brewery, customers would be able to drink Bonesaw beers along with food purchased elsewhere within Freehold Raceway Mall.
Bonesaw Brewing popped on the South Jersey craft brewing scene in 2019 with a production facility and taproom in Glassboro. Last October, they opened their second location, Bonesaw Pilot House, at Deptford Mall, taking over 7,600 square feet previously occupied by Sears.
And now, they're excited to
...More info on site
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USA, MA: Hannah's Brewing Co. now open in northern suburbs of Boston
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A new brewery and taproom has very quietly opened in the northern suburbs of Boston, the Boston Restaurant Talk reported on March 18.
According to its Instagram page, Hannah's Brewing Co. is now open in Melrose, moving into a space on Main Street toward the southern edge of the downtown area. Posters within the Instagram page indicate that the beers initially offered include an ale, Irish stout, American amber, hazy IPA, west coast DIPA, and Belgian pale ale. Their website is currently not fully functional, so little information on the place is known at this point in time (check back for updates as they come in).
The address for Hannah's Brewing Co. is 364 Main Street, Melrose, MA, 02176.
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USA, FL: Outcast Brewing to debut in former Brutalist Temple of Beer space in St Petersburg
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A brewhouse with a Prosecco bar, a beer garden, and a live music stage is coming to the former home of The Brutalist Temple of Beer in St. Petersburg, St Pete Rising reported on March 19.
Residents Richie and Jill Hamm recently purchased the 10,7470-square-foot industrial property at 1776 11th Avenue North in a $2.3 million deal.
The two-story building, located between the Historic Uptown and the North Kenwood neighborhoods, was formerly home to Flying Boat Brewing Company and The Brutalist Temple of Beer, which was owned and operated by Tampa’s King State Coffee Roasters.
The new brewery will be named Outcast Brewing Company.
"We want to lay down our roots here and create a place that welcomes everyone - come as you are," Richie said to St. Pete Rising.
He grew up in the Florida panhandle and has lived in St. Pete for four years.
Richie has a tech background, and Jill owns The Pilates Place at Lakewood Ranch in southern Manatee County.
"The brewhouse is in the perfect location in a great neighborhood near the future Rays and Tropicana Field redevelopment," Richie said about the initial draw to the building.
The Hamms plan to revamp the entire property and create an intimate Prosecco
...More info on site
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USA, MI: North Center Brewing Co. announces closure
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After nearly nine years of serving brews in Northville, North Center Brewing Co. is closing, FOX 2 reported on March 12.
The brewery will celebrate one last St. Patrick's Day before closing for good on Sunday, March 17.
North Center cited several reasons for the closure, noting that while it may be a shock, these factors have been piling up for a while.
"Over the last year we have navigated some difficult waters and no longer find ourselves being able to deliver a sustainable product," the brewery said in a post announcing the closure. "The craft beer industry is in a tough spot and between losing some key folks over the last year to rising labor and materials costs to an incredibly competitive distribution market, we have decided it is time to end our run."
As operations wind down this week, North Center will only be offering beer - no food. Merchandise will also be available.
North Center Brewing is at 410 N. Center St. in Northville.
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The Netherlands: Holland Malt inaugurates world's first emission-free malthouse in Eemshaven
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Holland Malt on March 14 officially inaugurated the world's first emission-free malthouse in Eemshaven, Netherlands, Inside.Beer reported.
This innovative facility, powered by the largest
...More info on site
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World: AB InBev continues to dominate global beer market with a market capitalization of over $123 bln
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As the world’s most popular alcoholic beverage, beer can be found in nearly every corner of the globe. But when it comes to the
...More info on site
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China: China Resources Beer's 2023 net profit rises buoyed up by higher beer sales
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China Resources Beer's 2023 net profit rose due to higher beer sales as the lifting of pandemic-related restrictions supported overall business, Morningstar.com reported on
...More info on site
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World: France malting barley situation attracts increasing interest globally
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The main point of interest in malting barley globally is in France, where prices are higher on the increasing concerns about late planting of
...More info on site
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Vietnam: Beer sales plunge by 11% last year due to tough anti-drunk driving policy
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Vietnam’s beer sales plunged by 11% in 2023 due to the government's zero tolerance for drunk driving, and breweries' profits were down 23%, VnExpress
...More info on site
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Japan: Kirin Holdings to focus on promoting flagship Kirin Ichiban beer, introduce new brands in pure beer category
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Kirin Holdings is gearing up its marketing efforts in 2024 in anticipation of increased domestic competition and Japan’s 2026 liquor tax reforms. The company plans to focus on promoting its flagship brand, Kirin Ichiban, and introducing new brands in the pure beer category, the Asia Brewers Network reported on March 11.
This comes on the back of all the major brands adjusting their strategies for overseas growth.
This marketing ramp-up is part of a broader strategy to enhance its presence and market share ahead of the impending tax changes, strategically positioning itself to navigate these changes and capitalize on emerging opportunities in the market.
President and CEO Yoshinori Isozaki highlighted the importance of winning in the beer category amidst the intensifying competition. “This year, we will focus on Kirin Ichiban and new brands in the pure beer category, but competition will intensify in preparation for the 2026 liquor tax revision,” he said, commenting further on Kirin’s need to maintain the strength of the company’s existing brands, especially in categories expected to face higher tax rates under the new reforms.
The upcoming liquor tax reforms in Japan aim to revamp the taxation of alcohol, with changes set to be implemented gradually by 2026. These reforms
...More info on site
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EU & UK: Wet weather remains the main concern for barley crop across almost all Europe
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The weather has remained wet and warm across almost all Europe which is having two kinds of impact on barley. Firstly, seeding of crop
...More info on site
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UK: Two of Northern Ireland’s biggest alcoholic drinks companies saw surging costs squeeze profits last year
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Two of Northern Ireland’s biggest alcoholic drinks companies saw their profits squeezed last year by surging costs, The Irish News reported on March 18.
Guinness-maker
...More info on site
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Malaysia: Worst of Carlsberg Brewery Malaysia Bhd’s year-on-year revenue declines is over, analysts say
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The worst of Carlsberg Brewery Malaysia Bhd’s year-on-year (y-o-y) revenue declines is over and the group’s y-o-y revenue growth should turn positive by the
...More info on site
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EU: Wheat futures end week higher on weaker euro, short-covering
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Euronext wheat futures on Friday, March 15 posted a small weekly gain after a weaker euro and short-covering helped prices recover from a 3-1/2 year low linked to hefty global supply, the Business Recorder reported.
May milling wheat settled 0.5% up at 195.00 euros ($212.24) a metric ton. Over the week the contract was up 0.8% as it edged away from a 3-1/2 year low of 188.00 euros struck last week.
A fall in the euro against the dollar this week and adjustments by investors with large short positions helped underpin prices, as traders assessed whether the market is bottoming out before a crucial weather period for northern hemisphere crops.
News of cancellations and delays to orders of US and Australian wheat by Chinese buyers and continuing competition from cheaper Russian and Ukrainian supplies have capped gains.
“In summary, this market remains difficult to call. Bearish fundamentals provide resistance, whilst the technical market provides support,” British merchant ADM Agriculture said in a note. Chicago wheat edged lower, pressured by the dollar and disappointing export news, though it also held above a 3-1/2 year low.
In France, the state of soft wheat crops, already their worst in four years, declined slightly last week, data from farm
...More info on site
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Argentina: Beer prices increase in the last six months well above average inflation rate - National Statistics Institute
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According to data from the National Statistics Institute (INDEC) for January, the price of beer in a 1L bottle was €1.7, while its equivalent of common wine reached €1.5 in Argentina, FreshlyBottled.com reported on March 13.
The increase in the price of beer has been extraordinarily high in the last six months and was well above the average inflation rate. In August, according to INDEC, it rose 10.8 percent, in September 13 percent, in October 15.8 percent, in November 13.5 percent, in December 38 percent and in January 3 percent, where the price went from 0.59 to more than €1.73.
Meanwhile, the price of wine increased to equally high levels compared to average inflation, but at a slower speed than that of beer.
97 percent of the beer market share in Argentina is dominated by two large companies: 65 percent corresponds to Cervecería y Maltería Quilmes, which is part of the Belgian multinational AB InBev and has the brands Quilmes, Brahma, Stella Artois, Patagonia, Corona, Andes, among others. The remaining 32 percent are held by the Chilean CCU, which sells Imperial, Schneider, Heineken, Salta, among others.
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India: Beer startups expanding and launching new products amid rise in funding
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Amid the rise in funding, beer startups in India are expanding and launching new products to cater to the market, which is seeing growing disposable income and decreasing societal stigma around alcohol, the Business Standard reported on March 14.
The Indian beer market reached Rs 38,360 crore in 2022 and is expected to reach Rs 62,240 crore by 2028, exhibiting a compound annual growth rate (CAGR) of 8.1 per cent during 2023-2028, according to IMARC Group.
Homegrown beer brand Proost Beer, a subsidiary of Grano69 Beverages, secured Rs 27.5 crore through a mix of equity and debt funding last year. Presently operating in Delhi, Punjab, Uttar Pradesh, and Kerala, Proost plans expansion into five new markets. The company also aims to diversify its product portfolio, focusing on ‘mass premium affordable’ beers in the strong beer category.
Proost attributes the growth in the beer market to rising per capita beer consumption, increased disposable income, and diminishing societal stigma around alcohol.
“There’s a notable increase in young consumers who are open to enjoying quality beer while socialising with peers. Moreover, the expansion of the middle class, coupled with rising disposable incomes, has led to increased spending on alcoholic beverages like beer. Obviously, with huge potential
...More info on site
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South Korea: Craft beer maker Jeju Beer sells management rights after underperforming
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While South Korea’s beer consumption is declining amid a growing global interest in health, Jeju Beer, the nation’s No. 1 craft beer maker, has sold its management rights after underperforming, mk.co.kr reported on March 19.
According to the Financial Supervisory Service's electronic disclosure system on March 19th, Jeju Beer decided to sell 8.64 million shares and management rights held by MBE Holdings, the largest shareholder, and Jeju Beer CEO Moon Hyuk-ki to Double HM for 10.156 billion won.
Double HM, an auto repair and parts distributor based in Seongdong-gu, Seoul, buys Jeju beer at 1,175 won per share. As news of the sale spread, Jeju Beer's stock price plunged, falling about 22% from the previous day at around 2 p.m. on the same day.
Jeju Beer has been leading the growth of the craft beer industry by listing on the KOSDAQ in 2021 for the first time in the craft beer industry, but has continued to suffer from the polarization trend of favoring high-altitude stocks such as non-alcoholic and whiskey amid an overall decline in alcohol consumption.
Jeju Beer's sales last year were 22.4 billion won, down 6.2% from the previous year and operating losses reached 10.9 billion won. The amount of operating loss
...More info on site
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Australia: Brewers monitoring barley fields to ensure beer taste consistency
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Generally, beer drinkers are easily satisfied.
Hand them a freshly poured cold beer — even better when shared in good company — and all is well with the world.
But they have one crucial condition. Their favourite brew must taste the same every time, without fail, MSN reported on March 15.
"Consistent, quality barley gives you consistent, quality malt, which then helps us make consistent, quality beer, which is what the consumers are after," said Mark Goldsmith of Asahi Beverages.
When Asahi, a Japanese-owned beer and beverage giant, took over the famous Carlton and United Breweries stable in 2020, it enacted some changes.
One was to forge closer relationships with its primary producers, namely its barley and hop growers.
Beer is about 90 per cent water. Hops can provide a distinctive flavour but for brewing western-style beer, barley remains the key ingredient.
That's why Australian brewers have recently been monitoring barley fields at harvest time, ensuring only the best grain makes the grade.
The specifications are tight with a protein level of about 10 per cent and the barley needs to readily sprout at the malting stage.
That's when the sprouted barley produces enzymes that break down starches into fermentable sugars, which supply the colour and much of the
...More info on site
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Brazil: Heineken 0.0 becomes Brazil’s best-selling non-alcoholic beer
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According to data from research conducted by NielsenIQ, Heineken 0.0 is the best-selling non-alcoholic beer in Brazil with a share of 9.2 percent, FreshlyBottled.com reported on March 13.
The study further confirmed that last year the share in terms of revenue of this beer category was 54.6 percent and 44.3 percent in volume. The NielsenIQ study also highlights the growing presence of Heineken 0.0 in homes, reaching 5.3 percent in 2023, compared to 4.3 percent in 2022. In addition, Heineken 0.0 is the preferred option in all age ranges, with a greater presence among consumers between 20 and 26 years of age and over 56 years of age.
The Southeast region is the leader in demand for Heineken 0.0, with the state of São Paulo concentrating 32 percent of the volumes of non-alcoholic beer and the south of the country representing 25 percent of sales.
“We are very happy with this result achieved in 2023. We launched our Heineken 0.0 in Brazil in 2020 and saw how much Brazilians were looking forward to a quality non-alcoholic beer option, pure malt, with a very similar taste to our normal beer,” the marketing director of Heineken 0.0 in Brazil said in a statement.
The
...More info on site
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UK: Krombacher Brewery launching the Starnberger brand in the UK
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Krombacher Brewery is helping to bring a Bavarian craft brewery to a wider audience by launching the Starnberger brand in the UK, Beer Today reported on March 17.
The brewery’s core product is an authentically Bavarian speciality lager called Starnberger Hell. It is available in a 30-litre keg from importer Morgenrot, with stylish glassware for an authentic Bavarian serve.
Starnberger Hell joins the Krombacher Drinks UK stable ahead of a busy summer, including the European Football Championships, in Germany, and well in advance of this autumn’s Bavarian Oktoberfest celebrations.
The beer will launch in Manchester craft beer bar Cask, in Castlefields and Ancoats, next week. It will also feature at Krombacher Social tasting events. The next of these takes place at The Brewery Tap, in Norwich, on 10th April.
“With growing interest in regional German beer styles, we’re delighted to be offering a 100% authentic taste of Bavaria from one of the region’s hottest breweries, ahead of the summer and this year’s Oktoberfest,” said Krombacher’s director of sales and marketing in the UK and Ireland, Stephan Kofler.
“The addition of Starnberger Hell alongside our Krombacher Pils, Hell, Weizen, Unfiltered Lager, and Unfiltered Dark Lager ensures we have the most comprehensive German range in
...More info on site
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