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E-Malt.com Newsletter 39a
September 23 - September 25, 2024
Quote of the Week
There is more to life than beer alone, but beer makes those other things even better.
Stephen Morris
Currency Rates
Base Currency: US Dollar
on September 25, 2024 |
Base Currency: Canadian Dollar
on September 25, 2024 |
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1 USD = 0.8975 EUR
1 USD = 0.7474 GBP
1 USD = 1.3486 CAD
1 USD = 1.4573 AUD
1 USD = 143.7380 JPY
1 USD = 5.4975 BRL
1 USD = 92.4563 RUB
1 USD = 7.0352 CNY
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1 CAD = 0.7414 USD
1 CAD = 0.5542 GBP
1 CAD = 0.6654 EUR
1 CAD = 1.0804 AUD
1 CAD = 106.5690 JPY
1 CAD = 4.0759 BRL
1 CAD = 68.5481 RUB
1 CAD = 5.2160 CNY
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Currency Rates Chart
Equities of the Largest Breweries
USA, CA: AB InBev announces $16 mln investment in its Los Angeles brewery
...Click here
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USA, GA: StillFire Brewing looking to bring craft beer to Smyrna next year
...Click here
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USA, MI: Northern Wind Brewing coming to Wyandotte next year
...Click here
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USA, TX: Tejas Brewery launches in former Buffalo Bayou Brewing space
...Click here
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Canada: Vancouver strike halts Canada grain exports at major port
...Click here
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USA, VA: Work on Hopewell’s Good Ship Brewing and Eatery underway
...Click here
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USA, AZ: Throne Brewing Company to close its Peoria location later this month
...Click here
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USA, SC: Eighth State Brewing Co. to close for good at the end of September
...Click here
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Spain: Intermalta to increase its malting capacity to 450,000 tonnes
...Click here
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World: Barley prices generally softer due to support from outside markets
...Click here
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EU & UK: Barley crop forecast adjusted downward to 57.7 mln tonnes
...Click here
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UK: Beer and pub sector in urgent need of government support
...Click here
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Singapore: ThaiBev completes share swap of FPL for F&N
...Click here
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Panama: AB InBev to establish a new subsidiary in Panama
...Click here
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South Korea: LOTTE Asahi Liquor launches new premium beer, Asahi Shokusai
...Click here
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UK: Fifty pubs a month closed in England and Wales in H1 this year
...Click here
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Graph of the Week
Table of the Week
Austria Brewing Industry 1980-2023
Prices Evolution
Barley Prices
Theoretical Malt Prices
These Days in Business History
23 September
1889 - Nintendo Koppai (Later Nintendo Company, Limited) is founded
1908 - University of Alberta opens
1974 - BBC Ceefax begins 1st teletext service
1991 - ABN & AMRO Dutch banks merge
24 September
1948 - The Honda Motor Company is founded
1960 - 1st nuclear-powered aircraft carrier launches (USS Enterprise)
1974 - John C. Bogle incorporates the Vanguard Group of Investment Cos. to administer - and to be owned by - the Vanguard family of mutual funds
1990 - Supreme Soviet gives approval to switch to free market
25 September
1639 - 1st printing press in America
1654 - England & Denmark sign trade agreement
1897 - 1st British bus service opens
1926 - Henry Ford announces 8 hour, 5-day work week
2014 - test event (Have to be edited and replaced with a real event description)
Agenda
September 2024:
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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USA, CA: AB InBev announces $16 mln investment in its Los Angeles brewery
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Anheuser-Busch, America’s leading brewer and maker of Michelob ULTRA, Busch Light, Budweiser and Bud Light, on September 25 announced a new $16 million investment in its Los Angeles brewery. Over the past 5 years, Anheuser-Busch has invested nearly $2 billion in its facilities across the country to help create and sustain jobs and drive economic prosperity in the communities where it operates and its employees call home.
Brendan Whitworth, CEO of Anheuser-Busch, stated, “Investing in the communities where our people live and work is part of who we are. At Anheuser-Busch, we’ve been producing high quality, great tasting products for generations, and through continued investments in our facilities like our Los Angeles brewery, we're not only improving our capabilities but also contributing to the prosperity of the communities we serve.”
Key Highlights of the Investment:
· Expansion of packaging capabilities for the company’s “beyond beer” brands like Cutwater and NUTRL, including variety packaging
· Increased production capacity for 25-ounce cans to meet increasing consumer demand
· Facility upgrades to enhance water conservation and reduce boiler emissions
The Los Angeles brewery, a cornerstone of Anheuser-Busch's operations since 1954, has played a
...More info on site
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USA, GA: StillFire Brewing looking to bring craft beer to Smyrna next year
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An award-winning local brewery is working to bring craft beer and pizza to Smyrna, What Now Atlanta reported on September 23.
StillFire Brewing is planned for 2700 Atlanta Road SE, part of Smyrna Market Village. It would be located in front of the Smyrna Community Center, at the corner of Atlanta Road and Powder Springs Street.
According to construction documents, the two-story brewery will be more than 26,400 square feet and include patio space. There will also be an adjacent 800-square-foot building that will serve pizza.
StillFire Brewing currently has a taproom and brewery in downtown Suwanee that opened in 2019. The company was named “Georgia Brewery of the Year” at the New York International Beer Competition in both 2023 and 2024, along with winning medals for several of its beers.
Their second location has been a few years in the making. The Smyrna City Council voted to sell the land to StillFire Brewing in 2022 for $600,000. A groundbreaking ceremony was held in September 2023, but then further progress stalled.
The company cited increased costs, inflation and higher interest rates all as challenges to a project of this size, saying that visible progress on the brewery should start to come to fruition this fall.
“We
...More info on site
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USA, MI: Northern Wind Brewing coming to Wyandotte next year
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Northern Wind Brewing is coming to Wyandotte next year with a 1,100-square-foot brewhouse and a 92-seat tap room, The Detroit News reported on September 24.
Owner Daniel Shock is shooting for a late winter opening for his brick-and-mortar beer business, located at 3353 Third in Wyandotte. He's working with Birmingham-based architecture and interior design firm DesignTeam Plus for the look, which includes a 37-foot u-shaped bar.
Shock said he's excited to add to the area's growing list of destinations like new restaurants and the music venue District 142.
“We know that people downriver are just as passionate about craft beer as anywhere else in Metro Detroit, and my research reflects an underserved downriver market,” he said in a press release announcing some of the brewery's details. “Northern Wind Brewing intends to make a significant impact on the local craft beer scene downriver.”
Once open next year, customers can expect house-made craft beers like New England IPAs, easy-drinking wheat beers, fruit-focused beers and lagers. There will be a food menu, too, likely with approachable fare like sandwiches, salads and pizza.
As for the visuals, DesignTeamPlus is going for "a cross between an industrial warehouse and an old-style British Pub," said owner and designer Shari Stein. Formerly
...More info on site
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USA, TX: Tejas Brewery launches in former Buffalo Bayou Brewing space
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The space that was formerly home to Buffalo Bayou Brewing is now reborn as Tejas Brewery and Taproom. This month, the venue had its grand opening in Sawyer Yards, becoming the latest spot for Houstonians to go when craving an ice-cold beer, cocktails, whiskey flights, wine, and bar food, Houstonia Magazine reported on September 24.
Buffalo Bayou Brewing, known locally as BuffBrew, had crowdfunded $1 million to build this sprawling space with three stories and views of downtown Houston. The location opened in 2018, but after legal battles and financial issues, the owners were locked out of the space in January for nonpayment of rent. In a social media post, BuffBrew CEO William McLucas said he planned to reopen the brewery’s doors, but by May the space was acquired by Gulf Coast Distillers, Tejas Beer’s parent company.
The Tejas Beer brand was originally owned by Big Bend Brewing Company in Alpine and bought by Gulf Coast Distillers in 2019 after the brewery filed for bankruptcy. Tejas launched in retail locations late last year, including H-E-B, Kroger, Spec’s, Total Wine & More, and some small stores in the Houston area, and can also be found on draft at some restaurant and bars.
Arturo Reyes,
...More info on site
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Canada: Vancouver strike halts Canada grain exports at major port
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Grain terminal workers at the port of Vancouver went on strike on September 24, halting shipments of about half of Canada's grain exports during the peak autumn shipping season, Barron’s reported.
The Grain Workers Union representing 650 workers at six Vancouver grain terminals -- including those owned by Cargill, Richardson International and Viterra -- accused employer Vancouver Terminal Elevator Association of having "invested very little effort in (contract) negotiations."
The work stoppage, decried by farmers, halts bulk shipments of canola, wheat, barley, oats and specialty crops.
Last year, 52 percent of all grain produced in Canada passed through the Pacific coast port.
The Grain Growers of Canada, an association representing 65,000 farmers, urged the government to intervene to bring an end to the strike, which it said risks having a "devastating impact on grain farmers."
Nearly 100,000 metric tons of Canadian grain arrive at these terminals each day, it said in a statement, and a shutdown will result in a loss of Can$35 million (US$26 million) in potential exports daily.
The Canola Council of Canada also said it was "deeply concerned about the work stoppage" in Vancouver. Its chief executive Chris Davison said it comes at a time when the industry is "already facing significant market
...More info on site
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USA, VA: Work on Hopewell’s Good Ship Brewing and Eatery underway
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Nearly five years after it was first announced, work on Hopewell’s first brewery is underway, Richmond BizSense reported on September 23.
Earlier this year construction kicked off on Good Ship Brewing and Eatery at 204-208 E. Cawson St. in downtown Hopewell.
Behind the concept is Donnie Barber, a Tri-Cities local known for his homebuilding company, Barber Construction Co. When Barber first began planning Good Ship in late 2019, he was hoping for it to open in the fall of 2020.
Those plans were promptly put on hold by the pandemic, and Barber said he spent the ensuing years focusing on his construction business. But he said he never fully scrapped the idea of Good Ship, especially since opening it was a dream he shared with his late father.
“He passed away during COVID, so that made me feel even more strongly about keeping the dream alive,” Barber said.
Barber said he was also spurred along in the years since with the nearby Beacon Theatre gaining momentum, along with the surrounding area of the city.
Barber said construction on Good Ship began earlier this year. The project is fueled in part by a $500,000 grant from the Virginia Department of Housing and Community
...More info on site
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USA, AZ: Throne Brewing Company to close its Peoria location later this month
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The Throne Brewing Company location in Peoria will serve its last beer later this month, KTAR News reported on September 21.
“It is with profound regret that we announce the closure of Throne Brewing Peoria, effective Sept. 29, 2024,” the taproom recently announced on Instagram.
“Despite our best efforts, we have been unable to overcome the challenges faced by our Peoria location.”
Open since April 1, 2020, Throne Brewing Peoria is located at 9299 W. Olive Ave., Suite 513 in Peoria.
Meanwhile, Throne Brewing Glendale, which opened in 2018, will remain open, according to the Instagram post.
“Although this chapter comes to a close, we are committed to continuing our operations at Throne Brewing Glendale, which will remain open and continue to serve our signature brews. Thank you again for your unwavering support.”
Throne also still has Throne Brewing & Pizza Kitchen in downtown Phoenix.
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USA, SC: Eighth State Brewing Co. to close for good at the end of September
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Another Greenville brewery is shuttering, Post and Courier reported on September 20.
The Eighth State Brewing Co. announced on social media late afternoon Sept. 20 that it will close at the end of this month. The owners provided scant details for the decision.
The brewery, which opened six years ago inside the historic Claussen Bakery building at 400 Augusta Street alongside the railroad tracks near Greenville High School, built a reputation for innovation in both beer but also in art, music and food.
The closure comes as the brewery hosted the Altered States art and music festival in July and as chef Conner Hinderks opened the food concept Little Secret inside the brewery's kitchen space. The food, with its take on familiar and upscale dishes, has drawn rave reviews.
In a post, Hinderks said that "we will be here serving up tasty bites all the way to closing day, the end of September. After that we will be looking for new venues/restaurants/bars to partner with and continue to bring you our pop up delightfulness."
The closing comes as other notable Greenville breweries have shuttered recently, including Birds Fly South Ale Project in October 2023 and Brewery 85 in June 2023.
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Spain: Intermalta to increase its malting capacity to 450,000 tonnes
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Malteurop’s Spanish subsidiary Intermalta on September 23 announced plans to increase its malting capacity. This expansion aims to satisfy the growing demand of brewers
...More info on site
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Vietnam: Beer production down 4% in January-August
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Vietnam’s beer production declined by 4% year-on-year in the first eight months of 2024 as breweries grappled with falling profits, according to industry sources.
...More info on site
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World: Barley prices generally softer due to support from outside markets
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Global barley prices are generally softer as support from outside markets (e.g. wheat) has been and the demand environment remains weak, RMI Analytics said
...More info on site
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EU & UK: Barley crop forecast adjusted downward to 57.7 mln tonnes
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As harvest 2024 winds down across Europe, one last weather chart showing very wet conditions reminds again of the struggles experienced this year, RMI
...More info on site
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UK: Low-alcohol beer sales surge in 2023
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Sales of low-alcohol beer in the UK surged in 2023, showing the highest growth globally, largely due to post-Brexit reforms in alcohol duties. Brewers capitalised on new tax rates, launching or reformulating products under 3.5% ABV to benefit from reduced charges, Proactive Investors reported on September 24.
Sales doubled from 650,000 hectolitres in 2022 to nearly 1.3 million in 2023, according to data firm IWSR cited by the Financial Times.
The UK market's growth was double that of Venezuela, the next-strongest performer, while Romania and Japan ranked joint third. The UK has risen to become the eighth-largest market globally for low-alcohol beer, up from 13th in 2022.
Analysts attribute this increase to duty changes, which impose lower taxes on beverages under 3.5% ABV.
Global brewers, including Guinness and Heineken, have expanded zero-alcohol options in response to growing consumer demand for healthier, low-alcohol alternatives.
IWSR predicts the rapid growth will stabilise in the coming years, with flat sales expected between 2024 and 2028.
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UK: Beer and pub sector in urgent need of government support
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Britain’s beer and pub sector urgently needs the Budget's help keep people in work, Gazette and Herald reported on September 20.
The sector supports 100,000 jobs according to the British Beer and Pub Association, which said pubs make an average of just 12p on every pint of beer once taxes and costs have been deducted.
Emma McClarkin, CEO of the BBPA, said: “Our brewers and pubs are helping people around the country earn money, gain skills and experience, and support both the local and national economy.
“From those pulling pints to the farmers growing the hops, so many rely on our treasured beer and pub sector for their livelihoods and careers.”
The BBPA is calling on the government to use the upcoming Budget to cut beer duty, reform business rates, and pledge to keep the 75 per cent business rates relief so that pubs and brewers can keep people in work and support more jobs.
The industry is one for the most heavily taxed business sectors per pound of turnover in the UK with tax making up 40 per cent of UK brewing turnover and £1 in every £3 spent in pubs.
The BBPA warns any additional price increases, on top of
...More info on site
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Singapore: ThaiBev completes share swap of FPL for F&N
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Thai Beverage Public Company (ThaiBev) shareholders have voted to approve the share swap between its indirectly wholly-owned subsidiary InterBev Investment (IBIL) and TCC Assets (TCCAL) at an extraordinary general meeting (EGM) held in Bangkok, Thailand, on Sept 20. According to ThaiBev's announcement 93.2798% of the total number of votes cast at the EGM were in favour of the share swap, The Edge Singapore reported on September 20.
IBIL and TCCAL have also completed the share swap, which involved IBIL transferring to TCCAL all of its 28.78% shareholding in Frasers Property Limited (FPL), and TCCAL transferring to IBIL its 41.30% shareholding in Fraser and Neave (F&N).
Following this, ThaiBev (through IBIL) has become the holding company of F&N and its subsidiaries, and ThaiBev and IBIL have ceased to hold any interest in FPL.
ThaiBev closed at 53 cents on Sept 19, down 2.78% this year. F&N closed at $1.28 on Sept 19, up 19.63% year-to-date.
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Panama: AB InBev to establish a new subsidiary in Panama
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The Ministry of Commerce and Industries (MICI) has announced that Anheuser-Busch InBev will be establishing a new subsidiary in Panama. This move marks a significant development in the country's economic landscape, FreshlyBottled.com reported on September 19.
The MICI reports that Anheuser-Busch InBev's initial investment is estimated at US $11.3 million . Deputy Minister of Foreign Trade, Carlos Hoyos, emphasized that the company’s presence will not only bolster Panama's economy but also serve as a catalyst for knowledge transfer and local talent development.
The government has recently enacted a new law providing multinationals with key benefits, including tax exemptions, customs facilitation, and streamlined administrative procedures. Since its introduction, this law has proven highly successful, attracting over 180 multinational companies and generating approximately €1 billion in investments.
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South Korea: LOTTE Asahi Liquor launches new premium beer, Asahi Shokusai
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LOTTE Asahi Liquor, part of South Korean conglomerate LOTTE Group and importer of Japan’s Asahi beer, announced on September 12 that it will officially launch its premium beer Asahi Shokusai in the Korean market on September 24. The move follows on from a successful limited release earlier this spring, Asia Brewers Network reported.
The brewer describes Asahi Shokusai as a meticulously crafted premium beer that blends five different types of hops, including the French variety Aramis. This careful selection of ingredients results in a rich and complex flavour profile.
Asahi Shokusai will be available for purchase in a novel draft beer can that features a unique full-aperture lid design. The company emphasises that with the new can design, the quality of the beer’s effervescence results in the foam rising instantly upon opening the can, providing a draft-like experience.
Since its trial debut in Japan in March, the new brew has already received international recognition, by winning the Grand Gold award at the prestigious Monde Selection, a quality beer evaluation competition held in Brussels, Belgium, in April. The brewer has also taken on local Korean actress Kwon Nara as its brand ambassador to help promote the new product.
The beer will be available in 340ml
...More info on site
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UK: Fifty pubs a month closed in England and Wales in H1 this year
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Fifty pubs a month closed for good across England and Wales in the first half of this year, with experts warning that tax rises in 2025 could make it even harder for some businesses to keep their doors open, The Guardian reported on September 23.
Analysis by the real estate intelligence company Altus found that 305 pubs were forced to shut their doors permanently in the first six months of the year, meaning the number of pubs in England and Wales fell to 39,096 at the end of June.
The total figure also includes pubs that are vacant and being offered to let, meaning the number of operational pubs is even lower.
Pubs that have “vanished” from the communities they once served have either been demolished and/or converted into other types of use such as homes, offices or even day nurseries, according to Altus.
The rate of closure is lower than the first half of 2023, when 383 pubs vanished, the equivalent to 64 pubs closing every month.
Alex Probyn, the president of property tax at Altus Group, said even more pubs could be forced to close their doors next year as they faced a “double whammy” of extra costs because of inflation and the
...More info on site
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