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E-Malt.com Newsletter 32b
August 08 - August 11, 2024
Quote of the Week
Change is the law of life. And those who look only to the past or present are certain to miss the future.
John F. Kennedy
Currency Rates
Base Currency: US Dollar
on August 09, 2024 |
Base Currency: Canadian Dollar
on August 09, 2024 |
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1 USD = 0.9155 EUR
1 USD = 0.7866 GBP
1 USD = 1.3738 CAD
1 USD = 1.5234 AUD
1 USD = 146.6790 JPY
1 USD = 5.6095 BRL
1 USD = 86.3616 RUB
1 USD = 7.1673 CNY
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1 CAD = 0.7278 USD
1 CAD = 0.5725 GBP
1 CAD = 0.6663 EUR
1 CAD = 1.1087 AUD
1 CAD = 106.7530 JPY
1 CAD = 4.0826 BRL
1 CAD = 62.8536 RUB
1 CAD = 5.2163 CNY
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Currency Rates Chart
Equities of the Largest Breweries
USA: January-June and June alone beer shipments see a decline in the US
...Click here
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USA, NY: Big Eddy Brewing Company unveiled in Narrowsburg
...Click here
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USA, MA: Exhibit ‘A’ Brewing Co. relocating to Williamsburg
...Click here
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USA, KY: Pivot Brewing to close its Kentucky locations by the end of August
...Click here
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USA, FL: J. Wakefield Brewing to close down after nearly a decade in Wynwood
...Click here
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Japan: Asahi shows growth despite first-half revenue being slightly lower than expected
...Click here
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The Philippines: San Miguel’s net income rises thanks to higher food, beer revenues
...Click here
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World: Certain degree of harvest pressure pushes barley prices downward
...Click here
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EU & UK: Barley price move further downward with French harvest mostly completed
...Click here
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Japan: Suntory reports robust financial performance for the first half of 2024
...Click here
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Malaysia: Heineken Malaysia Bhd's net profit rises 0.72% in Q2
...Click here
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Asia: ThaiBev’s beer segment continues to demonstrate impressive growth
...Click here
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Chile: CCU reports second-quarter net income after loss in Q2 last year
...Click here
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France: Farm ministry sharply lowers forecasts for barley, soft wheat output
...Click here
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Ethiopia: Soufflet Malt gets recognition for efforts to substitute imported malt with domestic produce
...Click here
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China: China’s beer industry cashes in on international sports events
...Click here
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Vietnam: Heineken Vietnam appoints new managing director
...Click here
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Graph of the Week
Table of the Week
France Barley Supply & Disposition 2017-2024f
Prices Evolution
Barley Prices
Theoretical Malt Prices
These Days in Business History
08 August
1709 - known ascent in hot-air balloon, Bartolomeu de Gusmao (indoors)
1876 - Thomas Edison patents mimeograph (stencil duplicator or the printing machine)
1876 - Thomas Edison receives a patent for his mimeograph
1896 - The Dow Jones Industrial Average, less than three months old, hits the lowest level ever recorded: 28.48, down 30.5% in just ten weeks
09 August
1874 - Harry S Parmelee patents sprinkler head
1945 - US drops 2nd atomic bomb "Fat Man" on Japan destroys part of Nagasaki
1976 - USSR launches Luna 24, last Lunar flight to date from Earth
10 August
1500 - Diego Diaz discovers Madagascar
1793 - The Musee du Louvre is officially opened in Paris, France
1961 - England applies for membership in the European Common Market
1981 - Coca-Cola Bottling Co agrees to pump $34 million into black business
1988 - UN estimates Asia's population hit 3 billion
11 August
1909 - SOS 1st used by an American ship, Arapahoe, off Cape Hatteras, NC
1950 - Steve Wozniak, future co-inventor of the Apple computer, is born
1992 - The world's largest shopping center, the US$650-million, 4.2-million-square-foot Mall of America, opens in Bloomington, Minnesota
Agenda
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: January-June and June alone beer shipments see a decline in the US
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The Beer Institute published on August 6 an unofficial estimate of domestic tax paid shipments by beer brewers for June 2024.
The June 2024 estimate
...More info on site
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USA, NY: Big Eddy Brewing Company unveiled in Narrowsburg
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After 14 months of renovations to the old Wayne Bank building on Main Street, Big Eddy Brewing Company’s Brewmaster Jake Johnson, alongside co-owners Alison Johnson and Caitlin and Tom Coacci, is excited to unveil what’s been brewing — a labor of love to give locals a place to drink, eat and share community, Sullivan County Democrat reported on August 9.
The opening of the brewery became official after a soft launch during the hamlet’s annual Riverfest celebration at the end of July, making Big Eddy Brewing Company the first craft brewery in Narrowsburg.
Jake, a lawyer by trade, wanted to give Narrowsburg residents a place to spend their time with friends and family. The brewmaster has a personal history in brewing, starting with humble beginnings with an in-home set up – the results of which inspired him to take it to the next level. With the help of his wife Alison and partnership with the Coacci duo, the team’s dream came to life and now has a home that meshes well with the business environment on Main Street.
The newly installed massive stainless-steel vats will be home to various types of craft beer, including IPA’s, kolschs and stouts as soon as mid-September. While
...More info on site
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USA, MA: Exhibit ‘A’ Brewing Co. relocating to Williamsburg
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A brewery and taproom serving up suds in Framingham for the past eight years is relocating to Williamsburg, moving into the 4 Main St. space most recently occupied by Burgy Brews, which closed in March.
Exhibit ‘A’ Brewing Co. announced the move from its 81 Morton St. location in a Facebook post earlier in July, describing the excitement surrounding the change.
“The Williamsburg facility boasts incredible New England charm, the details of the craftsmanship in the building setting it apart from any other in the area,” the post reads. “Not only does it have indoor and outdoor spaces for both public and private events, it also has a beautifully landscaped patio for a beer garden. It is both quaint and breathtaking at the same time. We look forward to opening our new Williamsburg location soon.”
At the site in the center of Williamsburg, work is underway to get both the pub/restaurant space ready for a reopening, and the adjacent two-story brewing building to begin producing beer.
Burgy Brews opened in the fall of 2021 at the former Brewmaster’s Tavern. The building originally began as a hotel built by Gross Williams in 1812 and has been the site of a tavern ever since. It was
...More info on site
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USA, KY: Pivot Brewing to close its Kentucky locations by the end of August
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Weeks after announcing it's up for sale, Pivot Brewing will close its Kentucky locations at the end of August, Yahoo reported on August 8.
The craft brewery and cidery will cease operations in Lexington and Louisville, where Pivot's Highlands location, 1753 Bardstown Road, opened in early 2023. Pivot launched in 2016 in Lexington.
"It is with heavy hearts that we announce that Pivot has reached the end of this incredible journey," read a post on Pivot's Instagram page.
A "last call" celebration is planned for Aug. 31.
This comes after Pivot announced in mid-July that its taprooms, production facility in Lexington, and intellectual property were on the market.
"It remains to be seen if the Pivot brand may find new life elsewhere in the future, but for now, this is goodbye," read the post from Aug. 7.
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USA, OR: Mt Tabor Brewing ceases operations
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Mt Tabor Brewing, a Southeast Portland brewery known for making classic pub-style beers for 13 years along with running a pizza-focused pub in Clark County, has ceased operations, the brewery announced on August 7 on social media.
Reached by phone, founder Eric Surface told The Oregonian/OregonLive that issues with the lease of the Vancouver Pub, in the Felida neighborhood of Clark County, were among the contributing factors in his decision.
He also said the cost of running a business in the current economic climate has been a significant challenge since the pandemic.
“Market trends, cost of labor, Portland utilities being significantly higher than they were just a few years ago — the cost of running a brewery is just brutal right now,” he said.
He said legal and financial considerations prevent him from closing the pub and simply making beer to distribute to Mt Tabor’s numerous retail accounts.
“The whole restaurant industry has never recovered post-COVID,” he said. “Recovery to where you were before is nonexistent. Everybody’s habits are so different now.”
Surface said he is stepping away from the Vancouver lease and is unsure what will replace the pub there, which opened in 2016. He said all of his employees were notified ahead of time
...More info on site
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Canada: Feed barley bids continue to tend lower
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Feed grain bids in Western Canada continue to trend lower, with early harvest pressure contributing to the softness, Farmtario reported on August 8.
New crop barley is starting to become available, although end users were not showing much interest in the newly harvested supplies, according to Travis Ebens of CorNine Commodities in Lacombe, Alta. He expected values would remain under pressure through the harvest period.
Recent heat and dryness contributed to the early development, with anecdotal reports pointing to ok yields but lighter bushel weights, according to Ebens.
In addition to the seasonal harvest pressure, ongoing weakness in the United States corn market was another bearish influence on North American feed markets. December corn settled below US$4.00 per bushel on Aug. 8, with values at their weakest levels since 2020.
Feed barley bids in southern Alberta are also at their lowest levels in four years, according to government data, with barley trading into Lethbridge at about C$265 to C$266 per tonne in the latest provincial report.
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USA, FL: J. Wakefield Brewing to close down after nearly a decade in Wynwood
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Just months after the closure of Union Beer Store in Little Havana and just two weeks after news broke that Unbranded Brewery in Hialeah would close, a Wynwood watering hole that became a staple in the neighborhood for beer-lovers and foodies alike has announced it will close its doors.
After nearly a decade in Wynwood, J. Wakefield Brewing (JWB) will close its doors on Monday, October 28. However, the brewery plans to reopen in a new location soon.
The announcement was made on Tuesday, August 6, via an Instagram post shared by owner and founder Johnathan Wakefield. In the post, he cited new challenges the brewery had been facing with the evolving neighborhood that has seen a rise in sky-rises and high rents as of late.
In a statement, he wrote, "It is with a heavy heart that we share some bittersweet news with all of you. After almost a decade of serving this beloved community of Wynwood, and everyone that traveled from afar to visit our taproom, we will be closing its doors. This decision has not come easily, but the ever-changing landscape of the neighborhood has presented challenges that we can no longer navigate effectively."
The statement continues, "Your presence and enthusiasm
...More info on site
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Japan: Asahi shows growth despite first-half revenue being slightly lower than expected
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Asahi shows growth despite revenue for the first half of the year being “slightly lower than expected” due to market conditions in Oceana, The
...More info on site
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The Philippines: San Miguel’s net income rises thanks to higher food, beer revenues
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San Miguel Food and Beverage Inc. (SMFB) said on August 7 its first-half net income rose 6 percent to P20 billion on higher food
...More info on site
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World: Certain degree of harvest pressure pushes barley prices downward
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As northern hemisphere barley harvest continues, there is a certain degree of harvest pressure influencing prices downward, RMI Analytics said in their August report.
...More info on site
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EU & UK: Barley price move further downward with French harvest mostly completed
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With French harvest mostly wrapped up and the mostly disappointing result now clear, the market is back to the realities of weak demand situation
...More info on site
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Japan: Suntory reports robust financial performance for the first half of 2024
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Japan’s Suntory Beverage & Food Limited reported a robust financial performance for the first half of 2024, with revenue climbing to 817.4 billion yen,
...More info on site
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Malaysia: Heineken Malaysia Bhd's net profit rises 0.72% in Q2
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Heineken Malaysia Bhd's net profit rose 0.72% to RM91.13 million in the second quarter ended June 30, 2024 (2QFY2024), from RM90.47 million a year
...More info on site
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Asia: ThaiBev’s beer segment continues to demonstrate impressive growth
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Thai Beverage (ThaiBev) posted a 2.2 per cent rise in earnings before interest, taxes, depreciation, and amortisation (Ebitda) to 38.6 billion baht (S$1.4 billion)
...More info on site
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Chile: CCU reports second-quarter net income after loss in Q2 last year
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Compania Cervecerias Unidas (CCU) on August 7 reported second-quarter net income of $5.4 million, after reporting a loss in the same period a year
...More info on site
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France: Farm ministry sharply lowers forecasts for barley, soft wheat output
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France's farm ministry on August 9 sharply lowered its estimate of the country's 2024 soft wheat output, now expected 25% below last year's volume,
...More info on site
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Ethiopia: Soufflet Malt gets recognition for efforts to substitute imported malt with domestic produce
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Industrial Parks Development Corporation CEO Fisseha Yitagesu pledged to provide all the necessary support to expand the investment of Soufflet Malt Manufacturing Company located
...More info on site
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China: China’s beer industry cashes in on international sports events
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At midnight, the Benediktiner Beer Garden in the eastern Chinese city of Qingdao is buzzing with activity, with dozens of cheerful customers clinking glasses
...More info on site
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Vietnam: Heineken Vietnam appoints new managing director
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Heineken Vietnam, one of the largest players in the country's beer market, on August 5 announced the appointment of Wietse Mutters as managing director, succeeding Alexander Koch, who will take a similar position in Italy, effective August 1, The Investor reported.
Wietse Mutters started his career with Heineken in 2008 and was managing director of Heineken Italy from May 2020, where he managed to increase market share, revenue, and operating profit for the company.
Mutters developed Heineken Italy's product portfolio and introduced multiple innovations to the local market.
Prior to leading Heineken Italy, Mutters was managing director of BRANA S.A. in Haiti. Before that, he had held several senior commercial roles, both in country and at the regional level in the Netherlands, Macedonia, Nigeria, and the Democratic Republic of Congo.
Meanwhile, Mutters’ predecessor Alexander Koch has ended his six-year tenure in Vietnam, first as commercial director in 2018 and then as managing director in 2020.
Under Koch’s leadership, Heineken Vietnam further strengthened its position in the market with a larger product portfolio that included Heineken Silver, Bia Viet, and Larue Smooth.
“I am honored and humbled at the exciting assignment ahead – leading the winning Heineken Vietnam team through the next chapter of growth. Despite the
...More info on site
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Vietnam: Sabeco launches new 333 Pilsner beer
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The Saigon Beer-Alcohol-Beverage Corporation (SABECO) recently launched 333 Pilsner, underscoring the company's dedication to continual innovation in providing top-notch products that cater to the evolving preferences of Vietnamese consumers, VietNam News reported on August 7.
During the unveiling event, the company emphasised that the new product offers a distinctive and exceptionally smooth experience for Vietnamese consumers.
Leveraging the expertise of its Vietnamese brewmasters who possess an in-depth grasp of local tastes, SABECO incorporated European technology along with premium imported ingredients to craft a new beer boasting exceptional aroma, flavour, and remarkable drinkability.
333 Pilsner marks the first addition to Bia 333's range – one of the pioneering beer brands of Việt Nam.
Lester Tan, CEO of SABECO, said: “The introduction of 333 Pilsner reinforces our position as one of the leading beer brewers in Vietnam. With the talent and spirit of SABECO's Vietnamese brewmasters, we will continue to deliver on our commitment to offer high quality products to the market, apply world-class innovation in our operations, and prioritising ethics in the way we conduct our business. By doing all this, we want to reflect our efforts towards sustainable growth while contributing to the progress of the country and embody the spirit of modern Việt
...More info on site
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