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E-Malt.com Newsletter 38b
September 19 - September 22, 2024
Quote of the Week
If you change the way you look at things, the things you look at change.
Wayne Dyer
Currency Rates
Base Currency: US Dollar
on September 20, 2024 |
Base Currency: Canadian Dollar
on September 20, 2024 |
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1 USD = 0.8975 EUR
1 USD = 0.7546 GBP
1 USD = 1.3573 CAD
1 USD = 1.4690 AUD
1 USD = 142.9190 JPY
1 USD = 5.4405 BRL
1 USD = 92.4481 RUB
1 USD = 7.0702 CNY
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1 CAD = 0.7367 USD
1 CAD = 0.5559 GBP
1 CAD = 0.6612 EUR
1 CAD = 1.0821 AUD
1 CAD = 105.2850 JPY
1 CAD = 4.0079 BRL
1 CAD = 68.1047 RUB
1 CAD = 5.2085 CNY
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Currency Rates Chart
Equities of the Largest Breweries
Canada: Canada seeing notable shift in alcohol consumption
...Click here
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USA, NY: Solitude Brewing Co. coming to Lakeville later this month
...Click here
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Ireland: Malting Company of Ireland to expand its malting facilities
...Click here
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India: Pernod Ricard to lay India’s biggest malt distillery foundation on October 7
...Click here
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Nigeria: Heineken suspends interest on loans as Nigerian Breweries focuses on right issue
...Click here
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Belgium: Smaller hop harvest expected this year following wet spring
...Click here
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UK: Pubs reducing size of glassware see drop in beer and cider sales, study shows
...Click here
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Nigeria: Guinness Nigeria to divest 1.270 billion ordinary shares
...Click here
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Russia: Export duty on barley remains zero in Russia
...Click here
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Graph of the Week
Table of the Week
Canada Malt Exports 2019-2023
Prices Evolution
Barley Prices
Theoretical Malt Prices
These Days in Business History
19 September
1849 - 1st commercial laundry established in Oaklan, California
1854 - Henry Meyer patents sleeping rail car
1876 - 1st carpet sweeper patented (Melville Bissell of Grand Rapids, Mich)
1887 - Dr. Graham Edgar, developer of the octane rating system, was born in Fayetteville, Arkansas, on this day
1888 - World's 1st beauty contest (Spa, Belgium)
20 September
1519 - Portuguese navigator Ferdinand Magellan sets sail from Spain in an effort to find a western sea route to the rich Spice Islands of Indonesia
1839 - 1st railroad in the Netherlands opens (Amsterdam-Haarlem)
1877 - Chase National Bank opens in NYC (later merges into Chase Manhattan)
21 September
1784 - The first daily newspaper in the United States, the Pennsylvania Packet and Daily Advertiser, begins publishing
1883 - 1st direct US-Brazil telegraph connection
1931 - The day after the Bank of England abandons the gold standard, U.S. stocks tumble
22 September
1893 - 1st auto built in US (by Duryea brothers) runs in Springfield
1910 - England's 1st aircraft flight
1988 - Canada begins production of a $5 silver Maple Leaf bullion coin
Agenda
September 2024:
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)
September 2025:
15 - 19: Drinktec 2025 (Munich, Germany)
News Articles
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Canada: Canada seeing notable shift in alcohol consumption
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Canada is experiencing a notable shift in its alcohol consumption patterns, Castanet reported on September 20.
Quebec’s SAQ is the latest liquor authority to report a consecutive decline in alcohol sales by volume, a trend that mirrors what is happening across the nation. In the most recent fiscal year, alcohol sales by volume have dropped in all provinces, signaling a significant change in Canadian drinking habits.
According to the data, Ontario’s sales fell by 2.0%, Quebec by 2.5%, and Alberta saw a steep 15% decline, based on estimates and liquor board reports. Provinces such as Nova Scotia (-4.2%), Manitoba (-6.7%), and British Columbia (-4.9%) have also reported substantial drops.
Despite these volume declines, many liquor boards have managed to maintain or increase revenues through price hikes. However, the downward trend in consumption is undeniable. Inflation and the broader cost-of-living crisis are likely the primary drivers. As household budgets tighten, consumers are forced to prioritize essential expenses like food and shelter, leaving alcohol purchases as one of the first discretionary items to be cut.
Compounding this, federal and provincial taxes on alcohol have increased, making these products less affordable for many Canadians. This combination of rising taxes and inflation is contributing to a further decline
...More info on site
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USA, NY: Solitude Brewing Co. coming to Lakeville later this month
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During a weeklong camping and hiking trip in Utah, Cal Hasler and a good buddy climbed a mountain and took in the spectacular sights.
In the wild, tired, but exhilarated, atop a mountain, a man gets to thinking.
“I really want to share that kind of experience with people because people usually don’t get to experience true wilderness and the beauty of solitude out there,” Hasler said.
Of course, in the wild, going up and down a mountain, and then hiking back to civilization, a man gets hungry and thirsty, too. The first thing you want to do is get a burger and a beer, Hasler said.
“It was like the best thing you’ve ever had,” Hasler said.
And that’s what he and business partner Chris Wegener, both York High School grads although a few years apart, are hoping people find at their Solitude Brewing Co. in the Livingston County hamlet of Lakeville, on Conesus Lake.
When it opens later this month, Solitude will join several other craft beverage makers in the county, including Mortalis, Rising Storm and No BS brewing companies and just down the road, little Lake Brewing, among other cider and wine makers and distillers.
The Solitude owners
...More info on site
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USA, OR: Kyros Brewing Co. in Portland is for sale
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A brewery and beer garden in the Portland neighborhood was put on the market earlier this week, The Business Journals reported on September 20.
Taylor Diaz, co-owner of Kyros Brewing Co. LLC, announced through a social media post on Tuesday, September 17 that Kyros, located at 2425 Portland Ave., is for sale. The brewery was opened in 2023 by three couples who began brewing together during the coronavirus pandemic: Diaz and his wife Sarah; Rich and Cameron Shanks; and Manooch and Jeana Saeedi.
The brewery's name was inspired by kairos, a Greek word that means "opportune moment." In his post, Diaz explained that two of Kyros's co-owners are leaving the country and the remaining partners are seeking a better work-life balance.
“A lot has changed in last few years. We are now parents to two growing boys and Manooch and Jeana are moving to Spain as we speak. It’s time (no pun intended) for Kyros to make a change as Sarah and I have neither the capacity or desire to run this business without the friends we started it with,” Diaz wrote. “This decision has been labored over painfully as the Saeedi’s departure approached and our conclusion is bittersweet: We will miss
...More info on site
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Ireland: Malting Company of Ireland to expand its malting facilities
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The Malting Company of Ireland (MCI) is to expand its malting facilities, resulting in 25,000t more malting barley being purchased, Farmers’ Journal reported on
...More info on site
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India: Pernod Ricard to lay India’s biggest malt distillery foundation on October 7
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The Mahayuti regime plans to raise a toast for a Made-in-India scotch project at Nagpur, just days before the election code of conduct comes into force. The foundation for French liquor multinational Pernod Ricard's malt distillery - biggest in the country, will be held on October 7, Times of India reported on September 20.
Deputy chief minister Devendra Fadnavis, Union minister for road transport and highways Nitin Gadkari, state industries minister Uday Samant, and Jean Touboul, CEO and managing director of Pernod Ricard India will be present at the event.
The function for the Rs 1785cr plant was earlier slated for September 26, but was postponed due to Prime Minister Narendra Modi's scheduled visit to Pohra Devi shrine of the Banjara community in Washim, 270km away. While Fadnavis banks on the project to draw investment points in Vidarbha, for Pernod Ricard, the facility would eventually change the dynamics of alcohol blending.
Malt is the basic ingredient of Scotch whisky. Made from barley, so far it's only imported from Scotland and blended in India, giving it the name Scotch. Now, the same malt will be made in India and blended in the flagship brands manufactured by Pernod Ricard, said a source.
The project is
...More info on site
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Nigeria: Heineken suspends interest on loans as Nigerian Breweries focuses on right issue
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Nigerian Breweries PLC, in its ongoing financial restructuring, has received a crucial lifeline from its parent company, Heineken, which has suspended interest payments on loans to the Nigerian subsidiary, Nairametrics reported on September 18.
This was disclosed by Managing Director Hans Essaadi during the company’s presentation at the Nigerian Exchange (NGX) “Facts Behind the Rights Issue” event on September 17, 2024.
The move is part of broader efforts by Nigerian Breweries to stabilize its finances amid a challenging economic environment, marked by inflation, foreign exchange losses, and rising operational costs.
Nigerian Breweries is set to raise N599.1 billion through a rights issue, offering 22.6 billion ordinary shares at N26.50 per share to existing shareholders.
The capital raise, on the basis of 11 new shares for every 5 held as of July 12, 2024, is aimed at addressing local debt and reducing foreign exchange liabilities.
During the event, Nigerian Breweries’ company secretary, Mr. Uaboi Agbebaku, confirmed the N599.1 billion target and emphasized that resolving the company’s FX liabilities is critical to stabilizing its profit and loss accounts.
He further explained that the funds raised would also help reduce the company’s bank debt, lowering interest costs and easing financial pressure.
Mr. Agbebaku attributed much of the company’s recent financial
...More info on site
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Belgium: Smaller hop harvest expected this year following wet spring
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The annual hop harvest is under way in and around Poperinge. It lasts for three weeks, but due to the wet spring, this year's yield will be less than usual. There are 23 hop growers in Belgium, 17 of whom are in Poperinge. Among them is Bart Boeraeve, VRT.be reported on September 20.
“Now the sun is shining, but that’s too late for the early varieties. We lose about 20% there,” he says. “The late varieties can still enjoy some late summer sun now. I suspect we can limit the damage to 10% loss. But we are going to feel that too, unfortunately.”
Belgium’s beer will not be compromised, he says, as many Belgian brewers use foreign hops, which are slightly cheaper. The area of farmland dedicated for hops is decreasing every year: there were 150 hectares of hops in Poperinge, compared to almost 1,000 hectares in the 1980s. Nevertheless, young farmers continue to believe in the crop.
“There is plenty of room and space for Belgian hops,” says Boeraeve. “It is 100% reliable, transparent and ecological. In addition, we really grow for the brewers. We listen to their preferences and don’t grow for the sake of growing.”
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UK: Pubs reducing size of glassware see drop in beer and cider sales, study shows
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Pubs that experimented with reducing the size of glassware saw a drop in beer and cider sales but an increase in wine revenue, according to a new study, The Drinks Business reported.
The findings from a recent study by Cambridge University showed that reducing the size of glassware from a pint would cut beer consumption but also boost wine sales.
The research looked at buying behaviour across 13 English pubs over a month when owners switched from serving pints to two-thirds of a pint. Despite beer and cider sales dropping by nearly 9.7%, the data showed there was an overall increase in wine sales by 7.2%.
The researchers went on to suggest that smaller measures for beer could potentially be an effective way to reduce alcohol consumption across Britain.
Professor Theresa Marteau, director of the behaviour and health research unit at the University of Cambridge, explained: “Removing the offer of pints in 13 licensed premises for four weeks reduced the volume of beer sold. This is in keeping with the emerging literature showing that smaller serving sizes help us drink less and presents a novel way of reducing alcohol consumption and improving population health.”
However, despite these claims, what the study does not take into
...More info on site
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Nigeria: Guinness Nigeria to divest 1.270 billion ordinary shares
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Guinness Nigeria Plc has gotten the approval of the Nigerian Exchange Limited (NGX) for the brewer’s block divestment of 1.270 billion ordinary shares of 50 kobo each at a premium price of N81.60 per share. The deal is valued at N103billion, Peoples Daily Newspaper reported on September 17.
Guinness Nigeria, listed on the beverages – Brewers/Distillers subsector of the Consumer Goods sector of the Nigerian Exchange Limited has 2.190billion shares outstanding each valued at N 63.5 as at September 17, and its market capitalisation at N139.089billion.
According to the NGX Regulation Limited in its X-Compliance Report for September 13, Stanbic IBTC Stockbrokers Limited is the stockbroker for the block divestment which the NGX approved on September 6.
The X-Compliance Report is a transparency initiative of NGX Regulation Limited designed to maintain market integrity and protect investors by providing compliance related information on all listed companies.
The report also revealed that the Guinness Nigeria Plc shares are being sold to NSeven Nigeria Limited, which represent 58.02 percent of the issued shares of Guinness Nigeria Plc held by Guinness Overseas Limited and Atalantaf Limited.
In June, Guiness Nigeria Plc said Tolaram, a Singapore-based holding company is set to spend about N103billion ($70million) to acquire Diageo’s 58.02 percent
...More info on site
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Russia: Export duty on barley remains zero in Russia
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The export duty on Russian wheat will rise 12.5% to 1,076.7 rubles per tonne in the week starting September 25 from 956.9 rubles per tonne during the previous duty period, the Agriculture Ministry said.
The duty on barley will remain zero and that on corn will drop to 292.7 rubles per tonne from 446.3 rubles per tonne.
Duty rates are based on indicative prices of $214.10 per tonne for wheat against $214.10 per tonne in the current period, $183.60 per tonne for barley versus $181.50 per tonne, and $189.50 per tonne for corn against $193.60 per tonne.
The duties are valid until October 1, inclusive.
Russia introduced a grain damper mechanism on June 2, 2021, which stipulates floating duties on the export of wheat, corn and barley and the return of funds received from them to subsidize agricultural producers. The duties are calculated weekly from indicators based on the prices of export contracts registered on the Moscow Exchange . Duty rates were calculated in dollars initially and in rubles since July 2022. The duty is 70% of the difference between reference and indicative prices.
The Agriculture Ministry on June 1, 2023, hiked the reference price for calculating the export duty on wheat to 17,000 rubles
...More info on site
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