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E-Malt.com Newsletter 23b
June 06 - June 09, 2024
Quote of the Week
Go until you fail, then keep going.
Jason Feifer
Currency Rates
Base Currency: US Dollar
on June 07, 2024 |
Base Currency: Canadian Dollar
on June 07, 2024 |
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1 USD = 0.9187 EUR
1 USD = 0.7819 GBP
1 USD = 1.3681 CAD
1 USD = 1.5015 AUD
1 USD = 155.8650 JPY
1 USD = 5.2790 BRL
1 USD = 89.2027 RUB
1 USD = 7.2428 CNY
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1 CAD = 0.7309 USD
1 CAD = 0.5714 GBP
1 CAD = 0.6714 EUR
1 CAD = 1.0974 AUD
1 CAD = 113.9170 JPY
1 CAD = 3.8583 BRL
1 CAD = 65.1956 RUB
1 CAD = 5.2935 CNY
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Currency Rates Chart
Equities of the Largest Breweries
USA, IL: Tangled Roots Brewery bringing its “farm-to-foam” craft beer-focused concept to Vernon Hills
...Click here
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USA, VA: Atlas Brew Works opening its new location in Alexandria’s Carlyle neighborhood
...Click here
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USA, FL: Inner Compass Brewing Company now open in Lakewood Ranch
...Click here
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Brazil: Brazil’s largest malting plant inaugurated in Parana
...Click here
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Vietnam: Despite revenue increase in Q1, Sabeco still facing significant challenges
...Click here
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World: French barley premium over other key origins declines
...Click here
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UK: Budweiser Brewing Group UK&I forecasts bumper summer season for beer sales
...Click here
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The Philippines: San Miguel Food and Beverage to boost beer and liquor sales growth this year
...Click here
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Hungary: Major brewers report net sales increase in 2023 but profitability drops
...Click here
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UK: Higher feed base price, lower malting barley premiums
...Click here
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Japan: Asahi seeing lower beer consumption by Gen Z as both risk and opportunity
...Click here
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Japan: Whisky makers stepping up investments in distilleries
...Click here
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Australia: Barley plantings forecast to rise by 5.1% in 2024/25
...Click here
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Japan: Suntory prices US$500 million bond to finance general corporate purposes
...Click here
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Finland & Sweden: Sweden and Finland move to relax strict alcohol sale laws
...Click here
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Nigeria: International Breweries allows non-shareholders to participate in its rights issue
...Click here
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UK: Malting barley Tennyson gets full approval for malt distilling
...Click here
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Spain & UK: Spanish beer chief slams ‘dishonest’ UK brewers amid Madri boom
...Click here
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South Africa: South African Breweries adds new alcohol-free beer with Vitamin D to its portfolio
...Click here
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Graph of the Week
Table of the Week
Spain Beer Production 2018 - 2023
Prices Evolution
Barley Prices
Theoretical Malt Prices
These Days in Business History
06 June
1875 - Netherlands goes on the gold standard
1882 - Electric iron patented by Henry W Seely, New York City
1925 - Walter P. Chrysler founds the Chrysler Corp. as successor corporation to the failing Maxwell Motor Car Co.
07 June
1775 - United Colonies change name to United States
1887 - Monotype type-casting machine patented by Tolbert Lanston
1965 - Sony Corp introduced its home video tape recorder
1990 - Universal Studios Florida opens in Orlando, FL
08 June
1824 - Washing machine patented by Noah Cushing of Quebec
1916 - Francis Harry Compton Crick is born in Northampton, England. In 1953, working with James Watson, he discovers the double-helix molecular structure of DNA, the building block of life (and of the biotechnology industry)
1955 - Tim Berners-Lee, future inventor of the World Wide Web, is born in London
09 June
1822 - Charles Graham patents false teeth
1869 - Ives W. McGaffey of Chicago patents 1st vacuum cleaner
1959 - The USS George Washington is launched. It is the first submarine to carry ballistic missiles
1994 - Jan Tinbergen, Dutch economist (Plan of Labor, Nobel 1969), dies at 91
Agenda
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:
06 - 07: Glug Swiss 2025 (Alte Reithalle, Aarau, Switzerland)
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)
12 - 15: Festival Brasileiro da Cerveja 2025 (Blumenau, Brazil)
19 - 20: BeerX 2025 (Liverpool, UK)
April 2025:
06 - 09: 15th International Trends in Brewing 'Beer & Society' 2025 (Leuven, Belgium)
10 - 12: KIBEX 2025 (Seoul, South Korea)
News Articles
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USA, IL: Tangled Roots Brewery bringing its “farm-to-foam” craft beer-focused concept to Vernon Hills
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An Ottawa-based company is bringing its “farm-to-foam” craft beer-focused concept to Vernon Hills, the Daily Herald reported on June 6.
Tangled Roots Brewery & Restaurants’ fourth location, Craft Beer and Kitchen, is scheduled to open Wednesday, June 12 at Mellody Farm, Milwaukee Avenue and Route 60 in Vernon Hills.
It will occupy the former Next Door American Eatery spot near Slyce pizza at Mellody Farm, a retail center that also features a variety of dining options.
Tangled Roots was founded in 2016 in Ottawa near Starved Rock State Park. The original concept, according to the company, was to blend high quality, chef-crafted menus with authentic, locally grown and brewed craft beers.
Hops and barley are grown on Tangled Roots’ own farm in Illinois and used to brew a range of beer styles, including its signature 100% Farm to Foam ale and Forty1 Eighty8, according to the company.
“Embrace Your Nature” is the motto of Tangled Roots, where each restaurant is distinct and draws inspiration from the town in which it is located. The other sites are The Lone Buffalo in Ottawa; Lock & Mule in Lockport; and Hangar Two in Glenview.
Tangled Roots will offer friendly, down-to-earth service, reflecting its origins as a small-town eatery, according
...More info on site
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USA, VA: Atlas Brew Works opening its new location in Alexandria’s Carlyle neighborhood
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Atlas Brew Works will be opening their new location in Alexandria’s Carlyle neighborhood at 11 a.m. on Friday, June 21, ALXnow reported on June 5.
It’s been a year-and-a-half since the company announced its intention to open in the 6,000-square-foot space at 2429 Mandeville Lane — just across from the AMC Hoffman Center 22 theater.
The tap room features 16 draft lines and a kitchen serving Andy’s Pizza. There is also 1,500 square feet of outdoor patio space.
Atlas Brew Works will be giving out free slices of Andy’s Pizza with a purchase of a pint of beer all weekend.
This is the third brewery and tap room for the business,
Justin Cox founded the company in 2013 with the first location in northeast D.C., and later opened a location in the Navy Yard.
Atlas is a 100% solar-powered brewery.
“While we love beer, we don’t love the energy-intensive nature of the brewing process,” the company said on its website. “By using solar, we can offset much of our carbon footprint.”
Atlas Brew Works is also a little more than two miles from another Alexandria brewery, the popular Port City Brewing Company.
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USA, FL: Inner Compass Brewing Company now open in Lakewood Ranch
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Within days of a Sarasota craft beer staple opening a new location with a full kitchen, another area brewery and restaurant has made its debut, Sarasota Herald-Tribune reported on June 6.
Inner Compass Brewing Company is now open in Lakewood Ranch at 10316 Technology Terrace. The brewery initially opened in Sanford outside Orlando in 2016 before closing amid the pandemic.
The Lakewood Ranch Inner Compass is owned by Robert Turner, also head brewer and a former owner of the Sanford location, his mother Susan Carrubba, and her husband Robert Carrubba. The Carrubbas are Lakewood Ranch residents, with Turner moving to the area after the Sanford location closed.
"We found a great piece of land about three years ago," Susan Carrubba said. "It’s 1.6 acres, on the lake back here and a business park. We bought the land and built ground-up construction.”
Inner Compass has 30 taps, which at least initially will consist mostly of craft beers from other Florida breweries but also feature some of their creations, including their signature Kan-Do Kölsch. For non-beer drinkers, it also offers wine and hard seltzer.
The brewery also features a menu of "high-quality bar food" including a variety of Angus burgers (with a non-meat option) and other handhelds,
...More info on site
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Brazil: Brazil’s largest malting plant inaugurated in Parana
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The cooperatives Agraria, Bom Jesus, Capal, Castrolanda, Coopagricola and Frisia held the inauguration of Maltaria Campos Gerais, an enterprise that consolidates the state of
...More info on site
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Vietnam: Despite revenue increase in Q1, Sabeco still facing significant challenges
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Although the revenue of Saigon Alcohol - Beer - Beverage Corporation (Sabeco) showed signs of increasing again in the first quarter, analysts indicate that
...More info on site
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World: French barley premium over other key origins declines
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The global malting barley market has settled into a price structure where Canada, Argentina, Australia have converged to a common price point, while France
...More info on site
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UK: Budweiser Brewing Group UK&I forecasts bumper summer season for beer sales
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Budweiser Brewing Group UK&I, a part of AB InBev, is forecasting a bumper summer season for beer sales with sporting occasions providing a major
...More info on site
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The Philippines: San Miguel Food and Beverage to boost beer and liquor sales growth this year
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San Miguel Food and Beverage Inc. (SMFB), a subsidiary of diversified conglomerate San Miguel Corporation, is confident of boosting sales growth for its beer
...More info on site
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Hungary: Major brewers report net sales increase in 2023 but profitability drops
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The 2023 business year brought various challenges and successes for Hungarian beer producers. While net sales increased among the four leading beer producers –
...More info on site
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UK: Higher feed base price, lower malting barley premiums
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UK’s malting barley market is focused on concern for quality and yield, with late sown spring crops well up in most regions, but needing
...More info on site
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Japan: Asahi seeing lower beer consumption by Gen Z as both risk and opportunity
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For thousands of years, alcohol has been used as a social lubricant. In Japan, it is known as nommunication - a combination of the Japanese word for drink, nomu, and communication.
The idea is that drinking alcohol creates a more relaxed environment.
Businesses have even tackled difficult issues in pubs, rather than conference rooms.
The late former chairman of then-bankrupt Japan Airlines, Kazuo Inamori, explained in 2012 how he used beer to get his employees to open up.
But there is now a whole new generation that chooses not to drink as much. Multiple studies in the UK, the US and Australia show that people from Gen Z are more sober than their parents and grandparents, BBC reported on June 4.
In Japan, faced with declining alcohol tax revenues, the authorities even arranged a national competition, named Sake Viva!, in an effort to reverse the trend in 2022.
The sober generation does not only affect Japan's tax revenues, it also offers a whole new challenge for businesses that make and sell alcohol.
"We have realised that younger people are increasingly choosing not to drink as much alcohol," said Atsushi Katsuki, the chief executive officer of Asahi Group Holdings.
However, Japan's biggest brewer sees this as both a risk
...More info on site
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Japan: Whisky makers stepping up investments in distilleries
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Japanese whisky makers are stepping up investments in distilleries, as they expect growing demand at home and abroad, NHK World reported on June 5.
Nikka Whisky Distilling said on June 5 that it plans to make a capital investment with its parent company Asahi Breweries to boost production capacity.
The companies will invest about 6 billion yen, or about 38 million dollars, this year to build new facilities to store casks for malt whisky at three production sites in Hokkaido, Miyagi and Tochigi prefectures.
Nikka expects the global whisky market to grow at an annual rate of 2 to 3 percent through 2040. It plans to continue with capital investments next year and beyond with the aim of raising annual domestic and overseas sales in 2040 or later to four-times the level in 2023.
Nikka Whisky President Tamesada Kazutomo says Japanese whisky is recognized as one of the world's top five whiskies. He says his company aims to boost its presence by offering premium whiskies with the potential for steady increase in demand.
Another Japanese whisky maker, Suntory, had set capital investment worth about 10 billion yen, or about 64 million dollars, for distilleries in Osaka and Yamanashi prefectures in the two years through 2024.
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Australia: Barley plantings forecast to rise by 5.1% in 2024/25
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Australian grain growers are forecast to plant 23.55 million hectares of winter crops this year — up 3.6 per cent on 2023 — despite
...More info on site
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Japan: Suntory prices US$500 million bond to finance general corporate purposes
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Suntory Holdings has priced a US$500 million bond to finance general corporate purposes including debt repayment, as CEO Takeshi Niinami denies Boston Beer investment, The Drinks Business reported on June 5.
Publicly traded companies typically issue bonds to raise capital to maintain operations, grow product lines and open new locations, or finance business expansion projects.
The whisky maker, responsible for Japanese whisky brands Yamazaki and Hibiki as well as Bourbon labels Jim Beam and Maker’s Mark, is currently one of only a handful of non-financial Japanese companies to tap the US currency debt market this year.
The US$500m note has been issued as a five-year note, making it an intermediate-term bond.
The yen has plunged to its weakest against the dollar since 1990. As a result, Japanese sales of bonds overseas this year have been dragged down because of surging borrowing costs in home-currency terms.
Proceeds from Suntory’s five-year note will be used for general corporate purposes including debt repayment, according to a person familiar with the matter who asked not to be identified. Suntory has a US$500 million note maturing in October, as reported by Reuters, where this story was first published.
In a statement sent to the drinks business today, the company said of
...More info on site
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Finland & Sweden: Sweden and Finland move to relax strict alcohol sale laws
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Sweden and Finland have moved to relax strict laws that govern the sale of alcohol, while preserving wider state monopolies, BBC reported on June 5.
The government in Stockholm intends to allow what it calls "farm sales", in which alcohol producers offer beverages directly to visiting customers.
Meanwhile, Finland's parliament has approved the sale of fermented drinks such as beer, wine and cider with an alcohol content of up to 8% in supermarkets, up from the current 5.5% limit.
In Sweden and Finland, alcohol can generally only be bought in state-owned shops, or at licensed bars and restaurants.
They are the only EU countries to have alcohol monopolies. The long-standing practice is part of a wider Nordic tradition, and aims to limit consumption in the interests of public health.
Finland's MPs voted by 102 to 80 in favour of its fermented drinks law, with all members from one party in the governing coalition, the Christian Democrats, voting against.
Those opposing the legislation justified their position on health grounds, amid fears of a rise in alcohol consumption.
The stronger beers, wines and ciders will be available in shops as early as next week. However, the new law does not cover distilled drinks.
Meanwhile Sweden's centre-right government is planning to
...More info on site
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Nigeria: International Breweries allows non-shareholders to participate in its rights issue
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International Breweries Plc has allowed non-shareholders of the company to participate in its rights issue, the Punch Newspapers reported on June 7.
A statement from the brewer, which is a part of AB InBev, the largest brewer in the world, on June 6, disclosed that non-shareholders could acquire traded rights on the floor of the Nigerian Exchange through stockbrokers.
IB launched 161,172,395,100 rights issue last month, offering shareholders six new ordinary shares for every one existing share held, at an issue price of N3.65 each.
The rights issue, which opened on May 21, 2024, will close on June 10, 2024.
The company has revealed that the net proceeds from the rights issue would be used to settle its outstanding US dollar-denominated loan and provide working capital support.
“We are committed to creating sustainable value for our shareholders while fortifying our position in the Nigerian beverage industry. Together, we will continue to brew success, deliver long-term value for our shareholders, and create a future with more cheers,” said Finance Director of International Breweries, David Tomlinson.
According to the firm, the tradability of the rights on the floor of the Nigerian Exchange ensures liquidity and accessibility for shareholders throughout the offer.
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UK: Malting barley Tennyson gets full approval for malt distilling
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Spring barley growers have another high-yielding malting option next spring, with Tennyson securing full approval for malt distilling and provisional approval for brewing, Farmers Weekly reported on June 5.
Syngenta’s Tennyson joined the AHDB Recommended List (RL) in 2023 as a potential malting variety, subject to approval by the Malting Barley Committee.
It has an RL yield of 102%, compared with leading variety Laureate at 101%.
However, its untreated yield is 88%, lower than Laureate’s 92% but higher than Planet’s 87%. Tennyson also ripens two days earlier than Planet.
The malting market is dominated by dual-purpose Laureate, used for distilling and brewing, while in the brewing-only market the major players are Planet and Skyway.
Kathryn Hamlen, Syngenta seeds portfolio marketing manager, says it is a high-yielding spring barley with market opportunity for both malt distilling and brewing, and has excellent performance in the north.
“For end users, it really pushes forward on quality,” she adds.
She explains that Tennyson has the highest predicted spirit yield figure on the RL at 436.8 litres of alcohol/t. High spirit yield is a key requirement for malt distilling.
Tennyson also has the highest hot water extract – important for brewing – on the RL. This means Syngenta is hopeful that it will
...More info on site
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Spain & UK: Spanish beer chief slams ‘dishonest’ UK brewers amid Madri boom
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The boss of Estrella Galicia has accused British brewers of “dishonesty” for selling beers that appear Spanish but are brewed in the UK, Yahoo Finance reported on June 4.
Aitor de Artaza, international managing director of the Spanish brewer, said a “lack of transparency” among UK beer companies was confusing consumers in pubs and supermarkets alike.
His criticism comes after the recent success of Madrí Excepcional, a lager which markets itself as “the soul of Madrid”.
However, critics point out that Madrí is brewed in Yorkshire by Molson Coors, the same company that owns Doom Bar and Carling.
That is unlike Estrella Galicia, which has brewed beer in the Spanish region of Galicia for more than a century.
Mr de Artaza said: “There is a lack of transparency because they use a big famous city in Spain, but they don’t produce here. This is confusing for the consumer.”
Since its launch in British pubs in 2020, Madrí has quickly become one of the UK’s best-known beers.
Its website claims Madrí lager is made in collaboration with La Sagra, a Spanish brewery also owned by Molson Coors since 2017.
However, the beer itself is only brewed at several sites across the UK, including Tadcaster in Yorkshire.
Mr de Artaza added:
...More info on site
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South Africa: South African Breweries adds new alcohol-free beer with Vitamin D to its portfolio
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Beverage maker South African Breweries (SAB) has announced a new addition to its portfolio, the premium beer brand, Corona Cero – an alcohol-free beer with Vitamin D, Engineering News reported on June 5.
SAB says this is an option for both existing and new beer drinkers who are looking for an alcohol-free option.
“We are excited to introduce Corona Cero, growing our portfolio of global brands that resonate with South Africans and meet their changing consumption needs. This alcohol-free beer broadens the consumer choice and is a pronounced expression of our commitment to ensuring moderation.
“We have always maintained that beer is a beverage of moderation, and this now provides consumers with even more options. Furthermore, it encourages a culture of responsibility among South Africans, which we are deliberate in enabling at SAB,” says SAB corporate affairs VP Zoleka Lisa.
The company avers that Corona Cero shares the essence of the Corona brand, which celebrates going outside and enjoying the sun.
“At SAB, we put innovation first. The feeling of the sun is one of the things that people love most about the outdoors, and the Corona brand is always innovating to remind them of that feeling of getting outside,” says SAB marketing VP Vaughan
...More info on site
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