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E-Malt.com Newsletter 35a
August 26 - August 28, 2024
Quote of the Week
I have stood on a mountain of no's for one yes.
Barbara Elaine Smith
Currency Rates
Base Currency: US Dollar
on August 28, 2024 |
Base Currency: Canadian Dollar
on August 28, 2024 |
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1 USD = 0.8951 EUR
1 USD = 0.7562 GBP
1 USD = 1.3465 CAD
1 USD = 1.4742 AUD
1 USD = 144.4480 JPY
1 USD = 5.4983 BRL
1 USD = 91.4954 RUB
1 USD = 7.1200 CNY
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1 CAD = 0.7425 USD
1 CAD = 0.5615 GBP
1 CAD = 0.6647 EUR
1 CAD = 1.0947 AUD
1 CAD = 107.2590 JPY
1 CAD = 4.0827 BRL
1 CAD = 67.9391 RUB
1 CAD = 5.2869 CNY
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Currency Rates Chart
Canada & USA: Barley crop forecast unchanged for Canada, lower for the US
...Click here
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USA: US spirits exports reach a record in 2023 driven by whiskey sales
...Click here
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USA, VA: AB InBev to invest $6.5 million in its Williamsburg brewery
...Click here
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USA, AZ: Formation Brewing set to open in Phoenix later this year
...Click here
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USA, DE: Stitch House Brewery sold to popular Wilmington restaurateurs
...Click here
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USA, VA: Steam Bell Beer Works closes its doors permanently
...Click here
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USA, VA: Steam Bell Beer Works pours its last beer after nearly a decade in business
...Click here
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Australia: Barley crop forecast up by 0.3 mln tonnes
...Click here
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UK: Biggest-ever price rise fails to stop slash in Heineken’s UK profit
...Click here
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The Czech Republic: Number of regular beer drinkers constantly decreasing
...Click here
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Argentina: Barley crop forecast up on improved weather conditions
...Click here
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UK: Brewing giant slumped to loss ahead of Marston's selling up to Carlsberg
...Click here
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Malaysia: Carlsberg Brewery Malaysia Bhd’s sales volume yet to normalise to pre-pandemic levels
...Click here
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India: Whisky exports experience remarkable surge in H1 2024
...Click here
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World: Diageo sells new long dated euro debt as part of a bumper corporate bond offering
...Click here
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UK: Britvic shareholders approve takeover deal by Carlsberg
...Click here
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Kazakhstan: Carlsberg to expand presence across Kazakhstan and Central Asia
...Click here
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Graph of the Week
Table of the Week
The Brewing Industry in Belgium 1900-2023
Prices Evolution
Barley Prices
Theoretical Malt Prices
These Days in Business History
26 August
1541 - Turkish sultan Suleiman occupies Budapest and annexes Hungary
1843 - Charles Thurber patents a typewriter
1880 - Guillaume Apollinaire was born, poet/movie critic (Alcoola)
27 August
1910 - Mother Teresa was born (Agnes Gonxha Bojaxhiu), Yugoslavia, Nobel 1979
1950 - 1st transmission of a TV program from continental Europe shown on BBC
1965 - Le Corbusier, (Charles Jeanneret), Swiss/French architect, dies at 77
28 August
1565 - Oldest city in the US, St Augustine Fla, established
1828 - Lev Tolstoi was born, Russian writer (War & Peace, Anna Karenina) [OS]
1963 - Martin Luther King Jr's "I have a dream" speech held at Lincoln Memorial
Agenda
September 2024:
02 - 04: 14th Iberoamerican VLB Symposium Brewing & Filling Technology (IBS) (Ciudad de Mexico (CDMX), Mexico)
05 - 07: 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)
10 - 13: Mondial de la Biere Rio 2024 (Rio de Janeiro, Brazil)
17 - 19: Warsaw Beer Festival 2024 (Warsaw, Poland)
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)
25 - 27: Expo Antad & Alimentaria Mexico 2025 (Expo Guadalajara, Jalisco, Mexico)
April 2025:
03 - 05: Warsaw Beer Festival 2025 (Warsaw, Poland)
06 - 08: Planete Biere 2025 (Paris, France)
06 - 09: 15th International Trends in Brewing 'Beer & Society' 2025 (Leuven, Belgium)
10 - 12: KIBEX 2025 (Seoul, South Korea)
11 - 12: InnBrew 2025 (Barcelona, Spain)
15 - 17: Craft Beer China 2025 (Shanghai, China)
28 - 01 May: Craft Brewers Conference & BrewExpo America 2025 (Indianapolis, USA)
May 2025:
13 - 15: International Beer Strategies Conference 2025 (Prague, the Czech Republic)
16 - 18: Cerveza Mexico Expo 2025 (Expo Guadalajara, Jalisco, Mexico)
16 - 17: Copenhagen Beer Festival 2025 (Copenhagen, Denmark)
26 - 01 June: Budapest Beer Week 2025 (Budapest, Hungary)
News Articles
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Canada & USA: Barley crop forecast unchanged for Canada, lower for the US
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As harvest starts to roll forward, unwanted rainfall has arrived to both interrupt harvest progress and create some quality risk (pre-germination reported). RMI Analytics’
...More info on site
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USA: US spirits exports reach a record in 2023 driven by whiskey sales
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According to figures from the US Distilled Spirits Council, US spirits exports reached a record in 2023, driven by whiskey sales, which benefited from
...More info on site
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USA, VA: AB InBev to invest $6.5 million in its Williamsburg brewery
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Anheuser-Busch InBev said on August 26 it would invest $6.5 million for infrastructure projects at its Williamsburg brewery.
“Today’s announcement is another demonstration of Anheuser-Busch’s commitment to our brewery, which has been in operation for more than 50 years,” said Tom Jokerst, general manager of the Anheuser-Busch Williamsburg brewery in a statement. “This $6.5 million investment will allow us to continue brewing some of America’s most recognized and beloved brands right here in Virginia and make certain that we are able to uphold the highest-quality brewing standards for our products.”
The capital infrastructure projects include overhaul equipment and additional improvements to increase its efficiency. The company said it would also invest to “enhance the capacity and capabilities of the brewery’s warehouse.”
The company said it has invested nearly $2 billion in its more than 120 U.S. facilities “to help create and sustain jobs” in communities in which it operates. The company said it employs 65,000 people.
It cited $1.1 billion in capital investments that it has made in Virginia, to date.
“Investing in the communities where our people live and work is part of who we are,” said Brendan Whitworth, CEO of Anheuser-Busch in a statement. “At Anheuser-Busch, we’ve been producing high quality, great
...More info on site
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USA, VA: Route 7 Brewing announces opening date
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A new brewery coming to Ashburn’s north side is officially ready to start tapping their beer kegs. Route 7 Brewing has announced its opening date, The Burn reported on August 24.
The new brewery is coming to the Lexington 7 development on the north side of Route 7 off Riverside Parkway.
The grand opening will be at 12 noon on Friday, September 13.
“Get ready to sip on the finest craft beers brewed right here,” the brewery’s team posted on social media. “But Route 7 is more than just a brewery — it’s a place where friends, neighbors, and new faces come together to share good times, great conversations, and unforgettable memories.”
Besides the brewery’s beers, they will also have a food menu. We’re waiting on more details on the exact food and beverage line-up.
The plans for Route 7 have been in the works for a long time. The Burn first reported on it way back in December 2021. Construction really got rolling in 2023 and now they’ve reached the finish line.
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USA, AZ: Formation Brewing set to open in Phoenix later this year
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The founders of Denver Beer Co. in Colorado are set to expand their horizons with a new brewery and restaurant in downtown Phoenix, ABC15 Arizona reported on August 26.
Patrick Crawford and Charles Berger, who founded Denver Beer in 2011, are planning to open Formation Brewing in the Roosevelt Row Arts District later this year, according to the company.
Formation Brewing will be located in 10,000 square feet at 925. N. 5th St. as part of Desert Viking Development LLC's The Blocks at Roosevelt Row, where Taco Chelo, Tap that Downtown and LeDu Thai are already in operation.
Formation Brewing is part of the newest generation of restaurants and developments moving into Roosevelt Row as other long-time businesses have closed down.
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USA, DE: Stitch House Brewery sold to popular Wilmington restaurateurs
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Downtown Wilmington's lone craft brewery closed on August 26 after it was sold to popular city restaurateurs, who plan to reconceptualize the space and reopen a restaurant, The News Journal reported.
Stitch House Brewery, located in the heart of downtown at 829 N. Market St. across from The Grand for the past 6½ years, was sold last week to Scott Stein and chef Antimo DiMeo, owners of the popular (and rapidly growing) Wilmington-based Bardea empire.
Stein and DiMeo own Bardea Food & Drink, Bardea Steak and The Garden, all located a few blocks from Stitch House on North Market Street. They also own the Pizzeria Bardea and Taqueria El Chingon food stalls at nearby DE.CO food hall and are preparing to open a full-service Italian restaurant this fall at DE.CO as well.
Bardea spokesperson Marie DiFeliciantonio said news of the purchase went public earlier than planned. “We don't have a menu or name yet, but it will serve as a neighborhood gastropub,” she said.
No time frame for the opening was announced. More information could be released as early as later this week, she added.
The expansive 7,000-square-foot Stitch House was opened by restaurateurs Daniel Sheridan and Robert Snowberger in March 2018, complete with an
...More info on site
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USA, VA: Steam Bell Beer Works closes its doors permanently
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Steam Bell Beer Works, a family-owned and operated brewery run by Chesterfield County natives, will close its doors permanently on Sunday, August 25 as the owner of its building reportedly chose not to renew its lease, WRIC reported.
According to an Aug. 23 Facebook post made by the brewery’s owners, the Cooper Family and Team Steam, the Midlothian-area production brewery located at 1717 Oak Lake Blvd. was the first of its kind when it opened nearly 10 years ago.
“Over the years, Steam Bell became known for its creative and innovative craft beer, and it quickly grew into a place where families could gather, parents felt at ease bringing their kids and community thrived,” the brewery wrote.
However, on Sunday, Aug. 25, the brewery is set to close its doors for the last time — and not because the Coopers are ready to let it go.
“A few months ago, we were informed by our building’s owner that they would not be renewing our lease,” the brewery wrote. “Since then, we’ve been searching for a way to move forward, but unfortunately, with the resources available to us, we’ve found ourselves at a dead end.”
Starting at 4 p.m. on Friday, August 23 all beers at
...More info on site
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USA, VA: Steam Bell Beer Works pours its last beer after nearly a decade in business
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A nearly decade-old Chesterfield brewery has poured its last beer, Richmond BizSense reported on August 26.
Steam Bell Beer Works planned to close Sunday, it announced last week. It had operated at 1717 E. Oak Lake Blvd. near Brandermill since 2015.
With Steam Bell’s lease expiring, the brewery was apparently unable to come up with a new location amid a challenging business landscape, according to a social media post on Friday that appeared to be written by owner Brad Cooper.
“A few months ago, we were informed by our building’s owner that they would not be renewing our lease. Since then, we’ve been searching for a way to move forward, but unfortunately, with the resources available to us, we’ve found ourselves at a dead end,” the post read in part.
It continued: “While this business has brought us incredible joy, it has not come without its fair share of challenges. The stress and sleepless nights have taken their toll, affecting both my mental and physical health. And while the past few years have been particularly tough for the craft beer industry—marked by declining sales and shrinking shelf space in grocery stores—I am deeply grateful for the experiences we’ve shared together.”
Further details weren’t available. Cooper
...More info on site
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Australia: Barley crop forecast up by 0.3 mln tonnes
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With more rain falling across key barley growing regions, the situation is deemed ‘ideal’ in New South Wales and very good in Western Australia.
...More info on site
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UK: Biggest-ever price rise fails to stop slash in Heineken’s UK profit
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Heineken’s biggest-ever price rises in the UK failed to stop its profit being slashed during its latest financial year as it battled “economic volatility”,
...More info on site
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The Czech Republic: Number of regular beer drinkers constantly decreasing
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In the Czech Republic, the number of people who regularly drink beer is constantly decreasing, according to the latest research of the Czech Academy
...More info on site
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Argentina: Barley crop forecast up on improved weather conditions
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Good rain has fallen across all Buenos Aires Province, improving further the early crop development and with more rain in the forecast. As a
...More info on site
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UK: Brewing giant slumped to loss ahead of Marston's selling up to Carlsberg
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The brewing joint venture worth almost £800 mln between Marston’s and Carlsberg slumped to a loss in the year before the pub giant sold
...More info on site
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Malaysia: Carlsberg Brewery Malaysia Bhd’s sales volume yet to normalise to pre-pandemic levels
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Carlsberg Brewery Malaysia Bhd’s sales volume has yet to normalise to pre-pandemic levels and this has been dragged down by the soft consumer sentiment
...More info on site
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India: Whisky exports experience remarkable surge in H1 2024
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India's whiskey exports have experienced a remarkable surge, climbing 26 per cent to reach $78.5 million in the first half of 2024. This growth
...More info on site
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World: Diageo sells new long dated euro debt as part of a bumper corporate bond offering
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Global alcohol maker Diageo Plc sold new long dated euro debt as part of a bumper corporate bond offering, with new issuance stepping up a gear in Europe’s primary market, Yahoo Finance reported on August 27.
The owner of the Smirnoff vodka, Johnnie Walker whiskey and Guinness brands raised €1.9 billion ($2.1 billion) from a three part offering with maturities of six and a half years, 11 years and 20 years, according to a person familiar with the matter who asked not to be identified.
Less than €15 billion of 20-year and longer senior investment-grade debt had been raised by corporate issuers since the start of the year versus around €194 billion in shorter maturities, according to data compiled by Bloomberg as of Friday. Some investors have been keen to lock in higher yields while they can as central banks globally start to cut interest rates. In Europe, some ECB officials have been talking up another the prospect of another reduction recently, having already cut rates once this year.
Still, at more than €1.4 billion, demand for the longer tranche was less than that seen for the shorter tranches.
Diageo joined a cohort of corporates, financial institutions and public sector borrowers selling almost €22
...More info on site
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UK: Britvic shareholders approve takeover deal by Carlsberg
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Britvic shareholders have approved a takeover deal worth £3.3bn by Danish brewer Carlsberg, The Manufacturer reported.
Voting at a meeting on August 27 (either in person or by proxy), 83% of Britvic shareholders voted in favour of the deal.
Under the terms of the agreement, Carlsberg will pay 1,315p per share to Britvic investors. The acquisition will create a single integrated beverage company in the UK, called Carlsberg Britvic.
Completion of the acquisition remains subject to the deal meeting certain regulatory approvals. Providing these are met, the acquisition is expected to be completed in the first quarter of 2025.
Speaking about the acquisition, Carlsberg group CEO Jacob Aarup-Andersen said: “The proposed transaction is attractive for shareholders of Carlsberg, supporting our growth ambitions, being immediately earnings accretive and value-accretive in year three. We are excited about expanding our global partnership with PepsiCo and believe that the longer-term opportunities will be very beneficial for both companies.
“We are committed to accelerating commercial and supply chain investments in Britvic, and we are confident that Carlsberg Britvic will become the preferred multi-beverage supplier to customers in the UK with a comprehensive portfolio of market-leading brands.”
In a separate deal, Carlsberg has announced it will purchase Marston’s 40% share in the
...More info on site
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Kazakhstan: Carlsberg to expand presence across Kazakhstan and Central Asia
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Carlsberg plans to expand its presence across Kazakhstan and Central Asia. This was revealed during an Aug. 22 meeting with Kazakh Deputy Foreign Minister Alibek Kuantyrov and President of Carlsberg Kazakhstan Vyacheslav Maltsev, The Astana Times reported on August 24.
Gabidulla Ospankulov, chairman of the ministry’s Investment Committee, and Yerzhan Yelekeyev, chairman of Kazakh Invest national company, attended the meeting.
Maltsev highlighted Kazakhstan’s favorable investment climate, detailing Carlsberg Kazakhstan’s upcoming venture into the production of soft drinks. The proposed project, set to receive substantial long-term investments, aims to cater to local and regional markets. Locations under consideration for the project include the Almaty and Turkistan Regions and the city of Shymkent.
Currently, the company is at the final stage of approving regional investments and needs support and assistance to accelerate the project’s launch and implementation.
Kuantyrov reassured Carlsberg of Kazakhstan’s commitment to facilitating a conducive business environment.
“We are actively working to support all our investors. Our goal is to create the most favorable conditions for the successful implementation of investment projects in Kazakhstan. In this regard, we are ready to provide you with all necessary assistance in solving current issues and removing other barriers,” he said.
At the meeting, the parties also agreed to
...More info on site
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New Zealand: Iconic Tui brewery stops production
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The iconic Tui brewery in the Tararua township of Mangatainoka is no longer producing any beer, after more than 130 years, RNZ reported on August 24.
Beer has been brewed at the Mangatainoka site since 1889.
DB Breweries, which owns the Tui brand, made the decision to close the main production plant in 2015, but installed a smaller, modern brewery in order to continue to supply its taproom and local community with specialty brews.
But Marketing Director at DB Breweries, Fraser Shrimpton, has now confirmed it stopped brewing at Mangatainoka three years ago.
"The [Covid-19] pandemic restrictions through 2020 and 2021 largely prevented DB from operating the brewery and we shifted the remainder of this production to our Timaru and Auckland breweries in 2021," Shrimpton said.
"We are in the process of redeploying the brew plant and equipment to our other sites around the country."
Earlier this month, DB confirmed it had stopped selling brewery tours at its Tui HQ site in Mangatainoka, and would instead offer a beer tasting experience, where visitors could sample a range of different beer styles.
Shrimpton said while it was no longer brewing in the Tararua District, its presence would remain in Mangatainoka.
"[It] remains the spiritual home of Tui, and we
...More info on site
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