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E-Malt.com Newsletter 13a
March 25 - March 27, 2024
Quote of the Week
Be happy with what you have while working for what you want.
Helen Keller
Currency Rates
Base Currency: US Dollar
on March 27, 2024 |
Base Currency: Canadian Dollar
on March 27, 2024 |
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1 USD = 0.9223 EUR
1 USD = 0.7911 GBP
1 USD = 1.3576 CAD
1 USD = 1.5286 AUD
1 USD = 151.4050 JPY
1 USD = 4.9772 BRL
1 USD = 91.6656 RUB
1 USD = 7.2146 CNY
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1 CAD = 0.7365 USD
1 CAD = 0.5827 GBP
1 CAD = 0.6793 EUR
1 CAD = 1.1258 AUD
1 CAD = 111.5110 JPY
1 CAD = 3.6657 BRL
1 CAD = 67.5125 RUB
1 CAD = 5.3136 CNY
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Currency Rates Chart
Equities of the Largest Breweries
Canada: 2023-24 barley supply estimated 8% lower year-over-year
...Click here
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USA, NC: Trve Brewing Company launches second location in Asheville
...Click here
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USA: AB InBev loses appeal in legal battle with Constellation Brands over the definition of beer
...Click here
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USA, OH: Slipcast Brewery gets approval to open in Franklin
...Click here
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Canada: Molson Coors Beverage Company launching new Madri Excepcional beer in Canada
...Click here
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USA, VA: Reaver Beach Brewing Co. closing its Norfolk location
...Click here
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World: Malt utilization rate forecast to increase to 90.3% by 2028
...Click here
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China: Tsingtao Brewery’s 2023 net profit rises amid slow local economy
...Click here
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Australia: Barley crop forecast for 2024/25 slightly down to 10.9 mln tonnes
...Click here
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Argentina: Barley crop 2204/25 forecast at 4.3 mln tonnes on strong competition for area planted with wheat
...Click here
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Japan: Japanese whisky to be redefined in April to protect brand
...Click here
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Nigeria: Guinness Nigeria extends timeline for distribution of Diageo brands until 2025
...Click here
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UK: Industry trialling new varieties of climate change resilient organic hops
...Click here
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Australia: Barley prices firm by around A$10 per tonne in the past week
...Click here
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Australia: Spirits exports could reach AU$1 bln if twice-yearly tax hike on alcohol is frozen
...Click here
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Rwanda: Heineken’s Bralirwa business launches new production line at brewery in Rubavu District
...Click here
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Ireland: Diageo announces new 6% price increase on its products
...Click here
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UK: English Hops records sale boost with GIC packing line
...Click here
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Middle East: Constellation Brands seeing growing demand for spirits in the Middle East
...Click here
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Japan: Kirin Brewery to launch new Harekaze beer in April
...Click here
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Graph of the Week
Table of the Week
Wold Hop Acreage and Percent Share 2019 - 2023
Prices Evolution
Barley Prices
Theoretical Malt Prices
These Days in Business History
25 March
1814 - Netherlands Bank established
1954 - RCA manufactures 1st color TV set (12 1/2'' screen at $1,000)
1957 - Treaty of Rome establishes European Economic Community (Common Market)
1970 - Concorde makes its 1st supersonic flight (700 MPH/1,127 KPH)
26 March
1780 - The British Gazette and Sunday Monitor was published for the first time. It was the first Sunday newspaper in Britain
1885 - Eastman Kodak (Eastman Dry Plate and Film Co.) produced the first commercial motion picture film in Rochster, NY
1996 - The International Monetary Fund approved a $10.2 billion loan for Russia to help the country transform its economy
27 March
1855 - Abraham Gesner patents kerosene
1999 - The macro virus "Melissa" was reported for the first
Agenda
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)
09 - 11: Bangkok Brewing Conference 2024 (Bangkok International Trade & Exhibition Centre (BITEC) Bangkok, Thailand)
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:
02 - 04: 14th Iberoamerican VLB Symposium Brewing & Filling Technology (IBS) (Ciudad de Mexico (CDMX), Mexico)
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)
February 2025:
07 - 10: HoReCa 2025 (Athens, Greece)
16 - 18: BBTech Expo 2025 (Rimini, Italy)
21 - 23: Finest Spirits 2025 (Munich, Germany)
March 2025:
03 - 07: IBD Asia Pacific Convention 2025 (Hobart, Tasmania)
News Articles
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Canada: 2023-24 barley supply estimated 8% lower year-over-year
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For 2023-24, Canadian barley supply is estimated at 9.7 million tonnes (Mt), down 8% year-over-year (y/y) and 6% below the previous five-year average, largely
...More info on site
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USA, NC: Trve Brewing Company launches second location in Asheville
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Eleven years ago, Nick Nunns designed a brewery concept where beer and metal could co-exist in a welcoming, communal space.
On March 15, Trve Brewing Company ― pronounced “true” ― expanded with a second location at 255 Short Coxe Ave. in Asheville's South Slope brewing district, The Asheville Citizen Times reported.
“Asheville’s full of so many beautiful weirdos and I’m excited to tell them to come hang out with us. We want to be your friend,” said Nick Nunns, a former electrical engineer who’s been a metal music fan since he was young.
He said the name “Trve,” with spelling inspired by the Roman letter “u,” was to mock those who take themselves too seriously.
“When I founded the brewery, I saw a lot of parallels between the heavy metal community and craft beer community wherein everybody was being condescending about what they do or don’t like and I’ve always found that to be off-putting,” Nick Nunns said. “I wanted to poke fun of that ― this is just beer and metal music. Like what you like and just come in here and enjoy it.”
After years of growing the Colorado brewery, Nick Nunns and his business partners EJ Nunns ― who is also his
...More info on site
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USA: AB InBev loses appeal in legal battle with Constellation Brands over the definition of beer
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The years-long saga between Anheuser-Busch InBev and Constellation over the definition of beer continues, VinePair reported on March 26.
On March 25, the United States Court of Appeals for the Second Circuit upheld a jury’s March 2023 ruling that hard seltzer is beer. That decision dictates that Constellation — which exclusively owns the licensing rights to distribute Corona and Modelo in the U.S. — did not violate the 2012 licensing agreements outlined by ABI-owned Grupo Modelo with its releases of Corona Hard Seltzer and Modelo Ranch Water.
After the three-judge panel affirmed the ruling, a spokesperson for Grupo Modelo told Brewbound that they will continue to defend their brands and “enforce [their] commercial agreements.” Grupo Modelo maintains the rights to produce and distribute Corona and Modelo beers outside of the U.S.
“For almost 100 years, Grupo Modelo has invested in and built Corona and Modelo to become leading brands in Mexico and in markets around the world,” the spokesperson said. “When Grupo Modelo provided Constellation with a license to sell those beer brands in the U.S., Grupo Modelo never agreed that Constellation had the right to use our iconic Corona and Modelo brands for sugar-based seltzers that are clearly not Mexican cervezas.”
The legal
...More info on site
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USA, OH: Slipcast Brewery gets approval to open in Franklin
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A new brewery is coming to a Warren County municipality, expanding on the city’s recent revitalization efforts, Local 12 reported on March 22.
The city of Franklin unanimously passed legislation at the city council meeting Monday, March 18, approving the sale of property on the corner of Sixth Street and Riley Boulevard to a group of entrepreneurs who plan to open a brewery and gastro pub, Slipcast Brewery.
The $3.5 million, 8,000-square-foot brewery is in design now and anticipated to open late summer of 2025.
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Canada: Molson Coors Beverage Company launching new Madri Excepcional beer in Canada
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Madrí Excepcional, a premium European-style lager, is being introduced to Canada this spring with much anticipation following its popularity across the pond, lbbonline reported on March 25.
Molson Coors Beverage Company is proud to bring the U.K’s fastest-growing beer brand - and Molson Coors’ most successful new brand launch in the past 20 years - to North America!
Canadians’ interest in European beers is on the rise, but there is a notable void in the segment when it comes to Spanish-inspired options. In collaboration with La Sagra brewery, this fusion of innovation and heritage is what sets the brand apart, embodying the essence of contemporary Madrid. At 4.6% ABV, the beer offers a light golden colour, a smooth, well-rounded taste profile and a short, bitter finish.
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USA, VA: Reaver Beach Brewing Co. closing its Norfolk location
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Reaver Beach Brewing Co. announced on Facebook that it’s closing its Norfolk location after three years, Yahoo News reported on March 25.
The post cites “changing craft beer market and unforeseen challenges” as forcing the closure.
The Norfolk brewpub is housed in a 6,500-square-foot renovated post office and is known for its wide selection of IPAs. The Virginia Beach production facility and taproom will continue to operate as it has for nearly 14 years.
Customers left comments on the post stating how sad or disappointed they were about the news.
“Heartbreaking,” one person wrote.
Reaver will thank its patron with a last “hurrah” on Saturday at 3800 Colley Ave. to savor the memories.
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World: Malt utilization rate forecast to increase to 90.3% by 2028
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Globally, the malt utilization rate for 2023 is estimated at 83.6% and is forecast to gradually increase to 90.3% in 2028, RMI Analytics’ latest
...More info on site
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China: Tsingtao Brewery’s 2023 net profit rises amid slow local economy
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Tsingtao Brewery, one of the China's largest brewers, saw net profit rise last year despite a slow local economy, the Morning Star reported on
...More info on site
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Australia: Barley crop forecast for 2024/25 slightly down to 10.9 mln tonnes
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After a troubling finish to crop 2023 harvest, rain has continued to fall across most key agricultural regions of Australia and continues to improve
...More info on site
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Argentina: Barley crop 2204/25 forecast at 4.3 mln tonnes on strong competition for area planted with wheat
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Heavy rain has fallen across Argentina, Uruguay, and southern Brazil. Although this may negatively impact corn and soy crops which are nearing harvest, these
...More info on site
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Japan: Japanese whisky to be redefined in April to protect brand
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Japan's alcohol industry in April will implement a new set of definitions for Japanese whisky as it endeavors to keep foreign-made spirits from being branded as Japanese, a trend that has set off alarms at the Japan Spirits & Liqueurs Makers Association, the Nikkei Asia reported on March 25.
Clear criteria will be set on indigenous ingredients, production methods and other factors.
Japanese whisky must always use malted grains and be made from water extracted in Japan under the standards.
Production, aging and bottling must also be carried out in Japan. After production at a distillery, the product must be matured in Japan for at least three years and then be bottled with a strength of at least 40% alcohol. Products that fail to use this process will be barred from being branded as Japanese whisky.
With misleading labeling being rife, restrictions will be placed on the use of Japanese people, place and era names. Use of the Japanese flag will also be restricted.
Compared to Scotch and Canadian whisky as well as American and Irish whiskey, Japanese whisky has lacked clear definitions on country of origin, years of production and aging, and alcohol content. Some brands sold overseas do not legally qualify as whisky
...More info on site
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Nigeria: Guinness Nigeria extends timeline for distribution of Diageo brands until 2025
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Guinness Nigeria Plc has extended the timeline for change in the distribution model for imported Diageo International Premium Spirit (IPS) brands to 2025, Nairametrics
...More info on site
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Russia: Whisky import hits record highs last year
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Russian imports of whisky hit record highs last year as booze oligarchs found ways to bypass an informal boycott, The Herald Series reported on
...More info on site
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UK: Industry trialling new varieties of climate change resilient organic hops
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Farmers, brewers and merchants have been trialling new varieties of organic hops that are resilient to climate change amid concerns over the future of
...More info on site
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Australia: Barley prices firm by around A$10 per tonne in the past week
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Australia’s barley prices have firmed by around A$10 per tonne in the past week as consumer interest particularly in the northern market returns for the first time in months, UkrAgroConsult reported on March 22.
Wheat has trade sideways in the north, but picked up A$10/t in the south to reflect some modest buying from the trade.
Sorghum has bucked the firmer trend, with values dropping in response to the collapse of the early harvest premium.
Growers in many regions are planting early winter crops, mainly dual-purpose oats and canola, and some faba beans.
Providing good rain arrives in coming weeks to wet topsoil, widespread planting of wheat, barley, canola and pulses will kick off in the last week or two of April.
Sorghum harvesting in southern Queensland and far northern New South Wales is getting close to its peak period, and prices have eased in response to the increased supply.
This has seen the premium for early sorghum disappear, but prices remain at levels that growers are happy to meet.
Goondiwindi-based broker Gerard Doherty, Knight Commodities, said growers have been ready sellers of sorghum off the header.
“It’s going into chicken-feed market and into containers, and bulk activity has started,” Mr Doherty said.
“Because premiums have been there, and
...More info on site
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Australia: Spirits exports could reach AU$1 bln if twice-yearly tax hike on alcohol is frozen
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Australia could export AU$1 billion (US$635 million) of spirits annually by 2035 if the government freezes the twice-yearly tax hike on alcohol, The Spirits Business reported on March 25.
The Spirits Industry Competitiveness Plan, which was prepared by research firm Mandala and commissioned by the Australian Distillers Association and Diageo Australia, revealed that policy and regulatory barriers are ‘thwarting the potential’ of the country’s spirits industry.
Twice a year, the excise tax on spirits in Australia automatically increases in line with the consumer price index (CPI). On 1 February 2024, it rose to AU$101.85 per litre of alcohol, up from AU$100.05 in the previous six months. The country pays the third-highest spirits tax in the world.
The Australian Distillers Association recently called for duty to be frozen for two years.
Australia’s spirits industry currently supports 5,700 jobs in manufacturing, with almost half of the country’s 701 distillers located in regional areas. The spirits sector attracts 631,000 people every year, with distillery visits now the fastest-growing tourist activity for domestic visitors in Australia.
The report noted that the industry continues to grow with 88% of all distillers having fewer than 20 employees, while more than half of distilleries are less than five years old.
It also found
...More info on site
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Rwanda: Heineken’s Bralirwa business launches new production line at brewery in Rubavu District
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Bralirwa Plc, part of the Heineken Company, celebrated a significant milestone with the official inauguration of its new production line at its brewery in Rubavu District, highlighting the company's commitment to customer satisfaction, AllAfrica reported on March 20.
Over the past couple of years, the company has made strides in innovating and expanding its brand portfolio to meet evolving consumer preferences.
As part of the expansion project, Bralirwa invested over 30 million Euros (40 billion Rwf) which included the installation of its inaugurated packaging line. This is in line with the company's commitment to developing the Rwandan beer market for sustainable growth and proactively investing in digital technology and innovation to improve its operations.
The new production line will also operate with reduced energy and water consumption, contributing to Heineken's mission to achieve net zero across all its production sites by 2030.
The event, which was held at the company's brewery in Rubavu District, was graced by RDB Ag. Chief Investment Officer, Philip Lucky, Her Excellency the Ambassador of the Netherlands, Ambassador Joan JJ Wiegman, the Mayor of Rubavu District, Prosper Mulindwa, the Director General of Industrial Promotion and Entrepreneurship Development at the Ministry of Trade and Industry, Fred Mugabe, as well as representatives
...More info on site
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Ireland: Diageo announces new 6% price increase on its products
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The price of a pint in Ireland is set to climb by about 10 cent from the middle of next month – and while Diageo described the increase as necessary to “maintain a sustainable business”, publicans have condemned it as a “hammer blow” to the sector, the Irish Times reported on March 26.
A 6 cent increase on Diageo products including Guinness, Carlsberg and Smithwick’s will take effect from April 15th, but will come to almost 10 cent when tax is included. It comes on the back of a 12 cent price hike the drinks giant rolled out this time last year.
According to figures from the Central Statistics Office, the average price of a pint of stout in Ireland last November was €5.62, while lager cost €6.06, although prices vary wildly across the State, with some pubs in urban centres charging close to – and sometimes even beyond – €10 for a pint.
“Like many, we continue to face increased costs across our business – we have kept these increases to a minimum, but it is required for us to maintain a sustainable business for the future,” a Diageo spokeswoman said.
Publicans have reacted angrily to the latest price move, with the Vintners’
...More info on site
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UK: English Hops records sale boost with GIC packing line
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The UK’s largest hop-growing co-operative is enjoying increased export sales following a big investment in a new packing line, Packaging News reported on March 23.
English Hops has supplied its pellets and bales to UK brewers since 1984.
As well as selling its products overseas, English Hops has grown its domestic revenue after installing a new production line at its Kent facility.
Historically outsourcing the processing and packing of its T90 pellets to third parties, the firm last year decided to invest in a bespoke packing line to allow it to pack its pellets into five-kilogram nitrogen gas flushed foils and give customers the full traceability they require.
The GIC4100 line, designed by Lincolnshire-based GIC, was installed in October 2023 and features a GIC 4000 vertical form fill and seal packing machine, fed by a Cotswold overhead weigher.
The line can pack up to eight five-kilogram packs per minute. Before being sealed, each pack is flushed with nitrogen, which preserves and maintains the quality for as long as three years or more.
Chris Daws, chairman and sales director at English Hops, said: “The new packing line designed by GIC gives us flexibility and full traceability to our customers who want to hand on heart know where
...More info on site
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Middle East: Constellation Brands seeing growing demand for spirits in the Middle East
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Constellation Brands is seeing growing demand for spirits in the Middle East, as international cocktail culture influences the region’s on-trade, The Spirits Business reported on March 25.
Constellation Brands’ portfolio includes American whiskey producer High West Distillery and Mi Campo Tequila.
Speaking to The Spirits Business during ProWein 2024, Taco Lucassen, vice-president EMEA (Europe, Middle East and Asia) at Constellation Brands, explained how he was seeing demand for international spirits – such as High West Whiskey and Mi Campo Tequila – grow in the Middle East.
“We see in the Emirates, 90% of the population is not Emirate,” Lucassen explained. “Spirits are taking a massive lead from the London bartender scene. There is a lot of interlink between London and Dubai, and the cocktail scene [in Dubai] is growing.
“Saudi Arabia is getting its first alcohol store. Hospitality is expanding in five-star hotels. It’s a very dynamic scene.
“These restaurants, hotels and bars are important for our portfolio growth; this is where we build demand because we can’t do marketing on the open market.
“We can only access consumers through the on-premise; that’s where we focus on getting access to consumers and getting engagement.”
Constellation Brands acquired High West Distillery in 2016. The American whiskey producer is
...More info on site
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Japan: Kirin Brewery to launch new Harekaze beer in April
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Japan's Kirin Brewery Co. has announced that it will release a new beer under the name of Harekaze on Tuesday, April 2, Jiji Press reported.
Harekaze is the brewer's first new standard-price beer brand in 17 years, according to the announcement made on March 26.
With the country's liquor tax slated to be lowered for beer in 2026, the company aims to expand its beer sales with Harekaze and the mainstay "Ichiban Shibori" brand.
Harekaze uses rare domestic hops with a distinctive citrus aroma while sourness is suppressed, thus offering "both satisfying and smooth drinking experiences," Tomohiro Tayama, master brewer at Kirin, said.
The new beer is expected to sell for around 225 yen for a 350-milliliter can at convenience stores. Kirin aims to sell about 4.3 million cases in the first year. Each case contains 20 633-milliliter bottles.
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