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E-Malt.com Newsletter 17b
April 25 - April 28, 2024
Quote of the Week
Don't give up, don't take anything personally, and don't take no for an answer.
Sophia Amoruso
Currency Rates
Base Currency: US Dollar
on April 26, 2024 |
Base Currency: Canadian Dollar
on April 26, 2024 |
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1 USD = 0.9330 EUR
1 USD = 0.8003 GBP
1 USD = 1.3682 CAD
1 USD = 1.5352 AUD
1 USD = 155.5530 JPY
1 USD = 5.1532 BRL
1 USD = 92.1638 RUB
1 USD = 7.2419 CNY
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1 CAD = 0.7308 USD
1 CAD = 0.5849 GBP
1 CAD = 0.6818 EUR
1 CAD = 1.1219 AUD
1 CAD = 113.6790 JPY
1 CAD = 3.7660 BRL
1 CAD = 67.3540 RUB
1 CAD = 5.2924 CNY
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Currency Rates Chart
Equities of the Largest Breweries
USA: Boston Beer’s Q1 results beat analysts’ expectations
...Click here
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USA, CO: Verboten Brewing and Barrel Project debuts its second location in Fort Collins
...Click here
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USA, OH: Fretboard Brewing Co. to open its fourth location in Cincinnati
...Click here
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USA, OR: Von Ebert Brewing to close original location in Portland
...Click here
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Poland: Beer production drops 4.3% in January-March this year
...Click here
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Malaysia: Carlsberg Brewery Malaysia confident of continuing investment into its business
...Click here
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Vietnam: Sabeco to sustain growth trajectory in 2024
...Click here
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World: Barley crop forecast reduced to 149 mln tonnes
...Click here
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Nigeria: Guinness Nigeria reports net loss for the nine months ending March 31
...Click here
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EU & UK: Barley crop development still hampered by unfavourable weather
...Click here
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Taiwan: Heineken to invest US$414 mln in business in Taiwan
...Click here
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World: Pernod Ricard’s third quarter sales lower than expected
...Click here
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Brazil: Brewers and liquor manufacturers wrangling over new ‘sin tax’
...Click here
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South Korea: With beer consumption down Korea seeing rapid increase in licenses for liquor and distilled spirits
...Click here
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Japan: Brewers tap interactive experiences to attract young generation
...Click here
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Ireland: Production of all three main cereals declines in 2023
...Click here
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Graph of the Week
Table of the Week
USA Hop Exports (Including Extracts)
Prices Evolution
Barley Prices
Theoretical Malt Prices
These Days in Business History
25 April
1905 - World's largest diamond, Cullinan - 3106 carets, found in South Africa
1931 - Pynchon & Co., one of the Wall Street's largest and most prestigious brokerage firms, goes bust, with $40 million in liabilities -- the biggest failure of a brokerage yet on record
1955 - Columbia U scientists develope an atomic clock accurate to within one second in 300 years
26 April
1755 - 1st Russian university opens (Moscow)
1887 - Huntsville Electric Co forms to sell electricity
1904 - Bell Telephone Company of Antwerp Belgium forms
1970 - The Convention Establishing the World Intellectual Property Organization enters into force
27 April
1914 - W. H. Carrier patents air conditioner
1925 - Netherlands and Great Britain return to gold standard
1981 - Xerox PARC introduces the computer mouse
2005 - Airbus A380 makes its first flight from Toulouse, France
28 April
1686 - 1st volume of Isaac Newton's "Principia" published
1989 - Argentina, hit by rocketing inflation, runs out of money
2001 - Dennis Tito becomes the first space tourist by paying $20 million to fly on a Soyuz mission to the International Space Station
Agenda
April 2024:
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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USA: Boston Beer’s Q1 results beat analysts’ expectations
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Beer company Boston Beer reported Q1 CY2024 results beating Wall Street analysts' expectations , with revenue up 10.3% year on year to $452.2 million. It made a GAAP profit of $1.04 per share, improving from its loss of $0.73 per share in the same quarter last year, Yahoo Finance reported on April 25.
Boston Beer Q1 CY2024 Highlights:
Revenue: $452.2 million vs analyst estimates of $412.3 million (9.7% beat)
Operating profit: $15.3 million vs analyst estimates of roughly breakeven (large beat)
EPS: $1.04 vs analyst estimates of $0 (39,947% beat)
EPS guidance for full year 2024 maintained from previous ($9.00 at the midpoint, below current expectations)
Gross Margin (GAAP): 47%, up from 38% in the same quarter last year
Free Cash Flow was -$20.62 million, down from $17.44 million in the previous quarter
Market Capitalization: $3.49 billion
“I’m thrilled to have recently joined Boston Beer as CEO,” said President and CEO Michael Spillane.
Known for its flavorful beverages challenging the status quo, Boston Beer is a pioneer in craft brewing and a symbol of American innovation in the alcoholic beverage industry.
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USA, CO: Verboten Brewing and Barrel Project debuts its second location in Fort Collins
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A new brewery with a familiar name is now open in Fort Collins, the Loveland Reporter-Herald reported on April 26.
This week, Verboten Brewing and Barrel Project debuted its second location at 1611 S. College Ave., in the space formerly home to Black Bottle Brewery. It will host a grand opening the weekend of May 3, said co-owner Josh Grenz.
Verboten took over Black Bottle’s lease in February and Grenz has since been working on a “cosmetic remodel” to update the bar tops, table tops and chairs. He downsized the draft system from 40 to 20 taps and added German-style picnic tables to the front patio.
As part of the deal, Verboten also inherited the roughly 7-barrel brewing system onsite and since March, brewer Hunter Pierce has been busy turning out original recipes. The opening lineup in FoCo includes a couple Czech-style pilsners served from LUKR faucets, two IPAs, a stout with coconut and cinnamon, a Kölsch, a Scottish export, and the last keg of the award-winning Grow Old With You barleywine.
Grenz said the Fort Collins location will brew all its beers in-house except for four core recipes that will be distributed from its flagship spot in Loveland. Those include an orange-honey blossom
...More info on site
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USA, OH: Fretboard Brewing Co. to open its fourth location in Cincinnati
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A Cincinnati craft brewery is readying to open its fourth location, this one on the West Side, Local 12 reported on April 26.
Fretboard Brewing Co. is opening in the former First National Bank building at 108 Harrison Ave. in downtown Harrison, in an area the municipality has branded as the District, a four-block retail strip created in 2017 with the goal of revitalizing its historic buildings. It's now home to 30 businesses.
The goal is to open the brewpub and restaurant in mid-May, Fretboard partner Kevin Moreland said.
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USA, OR: Von Ebert Brewing to close original location in Portland
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At the end of April 2024, Von Ebert Brewing will close its NW Portland, OR Pearl district location to focus on its brewery operations and the opening of the new production brewery and taproom on N. Cook Street in the former Ecliptic Brewing mothership. Employees from the closing location have been offered jobs at the other taprooms and restaurants, New School Beer reported on April 25.
“For six years, Von Ebert Brewing called the Pearl home, brewing many award-winning beers there. It’s with a heavy heart, we decided to close this location but are glad to still call Portland home with our other locations and coming soon to North Portland,” said Sam Pecoraro, brewmaster of Von Ebert Brewing. “We are thankful to be able to offer all impacted employees positions at our other locations. Times are hard for craft breweries with inflation and fewer people going out. It was important for the health of our brand and employees for us to self-edit and invest in areas where we can be most successful.”
With the purchase earlier this year of the brewing facility on N. Cook Street in Portland, Von Ebert Brewing is expanding production and distribution from 4,000 barrels per year to
...More info on site
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Poland: Beer production drops 4.3% in January-March this year
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Poland’s beer production fell by 2.4% year-on-year to 2.74 million hectolitres in March 2024, according to data from the Central Statistical Office (GUS). In
...More info on site
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Malaysia: Carlsberg Brewery Malaysia confident of continuing investment into its business
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Carlsberg Brewery Malaysia Bhd is confident of continuing investment into its business operations in the country, as it focuses on the long-term benefits for
...More info on site
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Vietnam: Sabeco to sustain growth trajectory in 2024
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Saigon Beer - Alcohol - Beverage Corporation (SABECO) has announced its business results in 2023, boasting an after-tax of VND4.2 trillion, VietNam News reported
...More info on site
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World: Barley crop forecast reduced to 149 mln tonnes
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RMI Analytics have reduced their global barley crop 2024 forecast to 149 mln tonnes, a drop of 0.9 mln tonnes from their previous report
...More info on site
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Nigeria: Guinness Nigeria reports net loss for the nine months ending March 31
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Guinness Nigeria Plc has released its unaudited financial statement for the nine-month period ending March 31, 2024, revealing a loss after tax of N61.7
...More info on site
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EU & UK: Barley crop development still hampered by unfavourable weather
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Unfavourable weather continues to hamper crop 2024 development in Europe, RMI Analytics said in their late April report.
A break in rainfall over the
...More info on site
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Taiwan: Heineken to invest US$414 mln in business in Taiwan
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Dutch brewing company Heineken N.V. announced on April 26 an investment of NT$13.5 billion (US$414 million) over the next five years in Taiwan, Focus Taiwan reported.
The first multinational brewing company to operate in Taiwan, Heineken made the announcement at a ceremony held at its Pingtung brewery in southern Taiwan, and also outlined efforts to make its Pingtung brewery net zero by 2030.
Wu Chien-fu, head of Heineken's Taiwan branch, said Heineken has been in the Taiwan market for 20 years and with strong support from Taiwanese consumers, decided to transition from sales to manufacturing in Taiwan.
Heineken took over majority ownership and management rights to the Long Chuan Zuan Co. brewery in Neipu Township, Pingtung in 2022, and began production in the first quarter of this year.
He added that Heineken hopes to supply "Made in Taiwan" (MIT) products to neighboring countries from its Pingtung brewery, allowing MIT products to gain global recognition.
In attendance, Vice President Lai Ching-te pointed out in his speech that Taiwan is Heineken's second-largest export market in the world, with production at the Pingtung brewery looking to supply the East Asian market, adding that the investment means a lot to Taiwan and its farmers.
Lai further said that Heineken's Pingtung
...More info on site
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World: Pernod Ricard’s third quarter sales lower than expected
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Pernod Ricard’s third quarter sales figures were lower than expected as its largest and third biggest markets in U.S. and China remained affected by global economic conditions with consumers resisting price rises and trading down the quality scale, The Drinks Business reported on April 25.
In the first three months of 2024 the group’s organic net sales were stable compared with the same period in 2023 but fell 2% in overall terms.
That takes the French group’s sales performance in the first nine months of its financial year to 6% below that of a year ago or 2% lower in organic terms.
Between January and the end of March sales volume grew by 1% but following four consecutive quarters of decline they are 4% lower for the nine months since last June compared with the previous comparable period.
Sales in the quarter were €2.35 billion, flat on a like-for-like basis versus analysts’ expectations of 2.9% growth.
The shares fell by 2.5% to €141.5 in Paris and have now lost 35% of their value in the past 12 months.
Nevertheless, Pernod Ricard described the sales figures “robust” and said they “illustrate the strength of our diversified portfolio of premium international spirits and our broad-based geographic footprint covering
...More info on site
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Brazil: Brewers and liquor manufacturers wrangling over new ‘sin tax’
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A new “sin tax” is splitting Brazil’s alcoholic beverage industry as beer producers and liquor manufacturers wrangle over how much they should have to pay, Bloomberg reported on April 25.
Brazil’s association of beermakers, which represents companies like Ambev SA and Heineken NV, argues they should pay lower rates under the levy meant to limit consumption of goods considered harmful to health or the environment because their products contain less alcohol by volume. But the Brazilian Association of Liquors, which lists Bacardi Ltd., Beam Suntory Inc. and Diageo PLC among its members, has pushed for constant rates across the industry.
The boozy battle highlights the challenges facing Brazil’s efforts to complete the sweeping overhaul of its tax code — one of the world’s most complex — that lawmakers approved last year.
President Luiz Inacio Lula da Silva’s government on Wednesday unveiled the first major regulatory proposal to put the system into place, kicking off a lobbying blitz as the process of setting rules and rates begins in Congress. And although the sin levy is a relatively small piece of the plan that replaces existing consumption charges with value-added taxes, it is likely to generate its most contentious debates, said Heleno Torres, a tax
...More info on site
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South Korea: With beer consumption down Korea seeing rapid increase in licenses for liquor and distilled spirits
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Current trends indicate that beer consumption is declining in South Korea, while the popularity of highball cocktails is on the rise and leading to a rapid increase in licenses for liquor and distilled spirits, the Pulse reported on April 26.
According to the National Tax Service on April 25, the total number of licenses for liquor manufacturing was 3,160 at the end of 2023, up by 275 licenses from a year ago.
The growth in these licenses was predominantly driven by distilled spirits, liquors, and other spirits. Among them, licenses for liquors saw the highest growth rate, and were up by 23.4 percent to 169 licenses from 137 licenses the previous year. Licenses for distilled spirits and other spirits also increased by 19 percent and 16.4 percent respectively during the same period.
The common denominator among these categories is that they are all required for the production of highball cocktails. Highballs are a type of cocktail made by mixing whiskey, distilled spirits, or other alcoholic beverages with soda water or juice.
Distilled spirits refer to alcohol fermented from corn or starch and then distilled, while liquors are spirits mixed with flavorings. The remaining spirits that do not fall under the categories specified by the
...More info on site
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Japan: Brewers tap interactive experiences to attract young generation
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Japan’s major beer brewers are opening facilities featuring eye-catching interactive experiences in a bid to crack open the interest of young people who have been shying away from the beverage, the Japan News reported on April 26.
Among the brewers aiming to attract new customers through this approach is Asahi Breweries Ltd., which opened a concept store showcasing its mainstay Super Dry beer in Tokyo’s posh Ginza district on Thursday. The store features the “Super Dry Go Ride,” in which images are projected on a huge 4K screen along with sounds, shaking and wind, making visitors feel as though they are riding on a beer can going through the production process.
Visitors also can use a machine to draw characters and pictures in beer foam and even pour their own draft beer at the store, which will be open until the end of September.
“The rebound back toward beer has picked up pace since liquor taxes were revised [last year],” an Asahi Breweries official said at a preview tour of the store on Wednesday. “We hope all kinds of people, not just beer fans, will enjoy visiting this store.”
As for other beer makers, Kirin Brewery Co. will open its renovated Spring Valley Brewery
...More info on site
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Ireland: Production of all three main cereals declines in 2023
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The production of the three main cereals in Ireland declined by a fifth in 2023 compared with the previous year, according to the Central Statistics Office (CSO), Breaking News reported on April 25.
The production of wheat fell by 27.7 per cent, barley by 17.8 per cent and oats by 20.6 per cent, or a total of 531,300 tonnes to 2,015,700 in 2023.
The wheat, barley and oat yield also dropped – by 12.8 per cent (1.4 tonnes per hectare), 16.1 per cent (1.3 tonnes per hectare), and 17.9 per cent (1.5 tonnes per hectare) respectively.
The production of potatoes was down by 12.4 per cent, or 45,800 tonnes, to 322,200 tonnes in 2023, and the potato yield decreased by 9.5 per cent, from 43.4 tonnes per hectare to 39.2 tonnes per hectare.
In the case of beans and peas, production rose 23.8 per cent, and oilseed rape production was up by 25.1 per cent.
Sophie Emerson, CSO statistician in agriculture surveys, said the increases were driven by a 50% jump in the area sown.
“The production of beans and peas rose from 65,700 tonnes to 81,300 tonnes in 2023 (+23.8 per cent) driven by an increase in the area sown of 5,400 hectares (+50.0 per
...More info on site
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