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E-Malt.com Newsletter 44b October 31 - November 03, 2024
Quote of the Week
I can accept failure, everyone fails at something. But I can't accept not trying.
Michael Jordan
Currency Rates
Base Currency: US Dollar on November 01, 2024 |
Base Currency: Canadian Dollar on November 01, 2024 |
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1 USD = 0.9204 EUR
1 USD = 0.7732 GBP
1 USD = 1.3918 CAD
1 USD = 1.5219 AUD
1 USD = 152.5470 JPY
1 USD = 5.7715 BRL
1 USD = 97.1866 RUB
1 USD = 7.1176 CNY
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1 CAD = 0.7184 USD
1 CAD = 0.5554 GBP
1 CAD = 0.6612 EUR
1 CAD = 1.0933 AUD
1 CAD = 109.5890 JPY
1 CAD = 4.1462 BRL
1 CAD = 69.8186 RUB
1 CAD = 5.1133 CNY
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Currency Rates Chart
Equities of the Largest Breweries
USA, MA: Clover Road Brewing Company to become Ashland’s first brewery
...Click here
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USA, MI: Stiggs Brewery plans to add Charlevoix location by summer 2025
...Click here
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USA, FL: Brewlando to acquire Sanford Brewing Company
...Click here
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USA, OH: Fibonacci Brewing Co. business and property up for sale
...Click here
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USA, CA: Bay Area couple looking for location to open a brewery before next September
...Click here
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USA, PA: Tattered Flag Brewery sells ist Dauphin County location
...Click here
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USA, OH: Taft's Brewing Co. to close brewpub in Franklinton
...Click here
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USA, WI: MobCraft Beer being sold, to close Milwaukee taproom by the end of November
...Click here
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World: AB InBev’s third quarter profits, revenues, volumes all well behind forecasts
...Click here
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World: Carlsberg’s volumes fall in Q3 on poor summer weather across Europe
...Click here
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Brazil: Ambev shares trading lower as quarterly sales miss analysts estimates
...Click here
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China: Beer market will likely decline again in 2025, Carlsberg CEO
...Click here
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Brazil: Beer industry growing both in production volume and technological innovation
...Click here
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UK: Asahi to fund research into sustainable solutions to protect British beer hops
...Click here
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Argentina: Quilmes produces the first gluten-free beer in the country
...Click here
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Vietnam: ThaiBev’s Vietnamese subsidiary fined for selling beer to North Korea
...Click here
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Graph of the Week
Table of the Week
EU Barley Supply & Demand Forecast
Prices Evolution
Barley Prices
Theoretical Malt Prices
These Days in Business History
31 October
1904 - King Camp Gillette patents the safety blade and razor
1938 - Robert Edward was born, he started CNN (amid almost universal predictions of failure) in 1980
1952 - TV broadcasting begins in Belgium
2011 - The global population of humans reaches seven billion. This day is now recognized by the United Nations as Seven Billion Day
01 November
1512 - Michelangelo's paintings on ceiling of Sistine Chapel, 1st time exhibited
1765 - Robert Fulton is born. He invents the world's first practical steamboat in 1807, and for the first time humans can safely travel substantial distances without relying on animals or wind
1894 - Vaccine for diphtheria announced by Dr Roux of Paris
1982 - Honda becomes the first Asian automobile company to produce cars in the United States with the opening of its factory in Marysville, Ohio. The Honda Accord is the first car produced there
1993 - The Maastricht Treaty takes effect, formally establishing the European Union
02 November
1927 - John Sainsbury was born, Chairman of J Sainsbury plc (the parent company of Sainsbury's Supermarkets Ltd) since 1969; English billionaire
1928 - Dupont introduces synthetic rubber
1992 - 1st test flight of Airbus A330
03 November
1898 - 1st US automobile show opens at Madison Square Garden (NYC)
1929 - 1st commercially produced synthetic rubber manufactured
1971 - The microprocessor is officially born as Intel introduces its new 4004 chip, invented by Ted Hoff and Federico Faggin
2014 - One World Trade Center officially opens
Agenda
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)
12 - 15: Great British Beer Festival Winter 2025 (Magna Science Adventure Centre, Rotherham, UK)
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 - 17: Copenhagen Beer Festival 2025 (Copenhagen, Denmark)
16 - 18: Cerveza Mexico Expo 2025 (Expo Guadalajara, Jalisco, Mexico)
26 - 01 June: Budapest Beer Week 2025 (Budapest, Hungary)
June 2025:
10 - 11: IGC Grains Conference 2025 (116 Pall Mall, London, UK)
16 - 18: VLB Africa Brewing Conference 2025 (Maputo, Mosambique)
20 - 22: Mondial de la Biere 2025 (Montreal, Canada)
August 2025:
05 - 09: Great British Beer Festival 2025 (Birmingham, UK)
07 - 09: VIETFOOD & BEVERAGE - PROPACK VIETNAM 2025 (Saigon Exhibitions and Conventions Center, 799 Nguyen Van Linh Street, District 7, HoChiMinh City, Vietnam)
September 2025:
15 - 19: Drinktec 2025 (Munich, Germany)
20 - 05 October: Oktoberfest 2025 (Munich, Germany)
27 - 29: Whisky Live Paris 2025 (Paris, France)
October 2025:
16 - 17: Brew Asia 2025 (Bangkok, Thailand)
News Articles
USA, MA: Clover Road Brewing Company to become Ashland’s first brewery
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Ashland will soon have its first brewery, one that is familiar to beer drinkers elsewhere in MetroWest, MetroWest Daily News reported on October 30.
Clover Road Brewing Company, which opened two years ago in Hudson, plans a second location in the former Ashland Fire Headquarters at 151 Main St.
"We are opening up a second location and we're measuring the opening date in weeks, not months," said Clover Road co-owner Jon Muldoon. "We're super excited about it."
Muldoon, along with partners Allan Waite and James Wong, opened the brewery in September 2022 at 312 Main St. in Hudson. It replaced Ground Effect Brewing Company, which had closed that summer.
'More experimental beers': As luck would have it, Clover Road Brewing Company opens doors in Hudson
In 2023, Clover Road began pouring beer at the The Corner Spot in Ashland — a place where businesses can "test-drive" their marketability — when Clover Road learned that the downtown fire station would be available. That got the idea in its owners' heads for a second location.
"At this point, we had only been open for six months," Muldoon said. "I drove up and saw this beautiful old building. It's like something you see in a Norman Rockwell painting —
...More info on site
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USA, MI: Stiggs Brewery plans to add Charlevoix location by summer 2025
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Excitement is brewing as Charlevoix prepares to welcome “Stiggs Garage,” a new microbrewery and distribution center from Stiggs Brewery, set to open to the public by summer 2025, News-Review reported on October 29.
Located at 743 Petoskey Ave., the new venture is led by Michael Castiglione, a Charlevoix High School alumnus and founder of Stiggs Brewery and Kitchen in Boyne City. The new location will be primarily focused on beer distribution, while also offering a seasonal taproom, outdoor seating and food trucks specializing in barbecue.
“We're hoping to have the tap room open by summer of next year, but we will, for sure, be brewing beer out of there before then,“ said Castiglione.
Castiglione noted that the name "Stiggs Garage" isn’t final.
"The previous use was a garage, so we are thinking about going with that name," he said.
The Charlevoix facility will center on the production of flagship beers like the Hay Burner, a popular hazy IPA, with an estimated 300 barrels brewed annually for distribution to local restaurants, liquor stores and party shops. Unlike Stiggs' Boyne City location, which operates as a full-service restaurant, the Charlevoix site will primarily focus on beer distribution. Its taproom will provide limited indoor seating, open year-round,
...More info on site
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USA, FL: Brewlando to acquire Sanford Brewing Company
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Sanford Brewing Company opened its first location at 400 S. Sanford Avenue back in 2016. It’s sister location in Maitland began serving in 2020, “five weeks before the world fell off the cliff,” says co-founder/owner Robyn Winkler-Esser, MSN reported on October 30.
And though the brewpub — with its bestselling Drinkin’ Beer American pale ale topping a recipe list north of 100, and a vast network of bars and restaurants serving its suds — survived the pandemic, a tough post-COVID economy eventually did it in.
SBC shuttered less than a week ago, but it’s about to get a swift resurrection, as Brewlando announced on October 29 its intent to acquire both locations and reopen as Sanford Brewing Company by Brewlando.
It’s a significant expansion. Brewlando just opened The Winery & Tasting Room at Icon Park earlier this month. The Sanford Brewing acquisition will take its locations up to four.
And it’s all because Brewlando owner Shara Pathak was moved by what she saw on local TV news, said Winkler-Esser, segments that showcased SBC’s final days and its attempt to bolster staff coffers amid the uncertainty of closure and the specter of unemployment.
‘Difficult decisions’: Central Florida restaurants shut down amid rising costs
“We had lots of
...More info on site
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USA, OH: Fibonacci Brewing Co. business and property up for sale
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A nearly decade-old Cincinnati-area microbrewery, urban farm and Airbnb experience just hit the market, Local12 reported.
Husband and wife Betty and Bob Bollas have decided to sell the Fibonacci Brewing Co. business and property, which is in Mount Healthy at 1445 and 1451 Compton Road.
The public listing from 3CRE officially hit the market Monday, Oct. 28, for a total sale price of $570,000. The property includes two combined parcels across 1.3 acres and two buildings.
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USA, CA: Bay Area couple looking for location to open a brewery before next September
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A Bay Area couple decided to go into business together and open a brewery. They are still on the hunt for the right space but aim to open doors before next September, Silicon Valley Business Journal reported on October 29.
Zarna and Brijesh Patel began looking into becoming a franchisee for national chain, Brass Tap, in 2019. This year, the Milpitas couple officially signed an agreement with the company and started looking for potential brewery sites in June.
Zarna, a quality systems director for a biotech company, has been in the Bay Area 23 years and her husband Brijesh, a senior technical project manager, has lived locally for 13 years. They are both actively working while trying to launch the brewery.
“Our decision to enter into franchising actually stemmed from our desire to leverage our skills and experience and put it into our own business model that would offer growth opportunity and growth potential,” Zarna said.
The Brass Tap launched its first craft beer bar in 2008 in Florida, and the chain now has more than 50 locations across 16 states. The current sites with closest proximity to the Bay Area are in Vacaville, Modesto, Hollister and Marina.
“[Brass Tap]
...More info on site
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USA, PA: Tattered Flag Brewery sells ist Dauphin County location
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A veteran-owned brewery in Dauphin County, which closed its doors last year, has officially sold its Middletown location.
abc27 news reported in May 2024 when the veteran-owned Tattered Flag Brewery first shared that their Middletown location at 1 South Union Street would be auctioned off with a starting bid of $275,000.
The auction of this 13,000-square-foot space came nearly a year after the Tattered Flag Brewery closed its Middletown location, which they previously said was due to inflation and high labor costs.
Tattered Flag’s last day of operation in Middletown was on October 1, 2023.
At its peak, the local veteran-owned brewery had locations in Lancaster (1018 Christian Street), Gettysburg (45 Steinwehr Avenue), and Hershey (251 West Chocolate Avenue). The former Hershey location was taken over by YAH Brew back in March 2023.
According to a news release earlier today by NAI CIR, the Tattered Flag Brewery in Middletown has officially been sold to 3 South Union Street, LLC.
NAI CIR says the new owners plan to offer the space for lease “in the near future.”
It should be noted that Nik Sgagias of NAI CIR represented the sellers in this transaction.
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USA, OH: Taft's Brewing Co. to close brewpub in Franklinton
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After five years in Franklinton, Cincinnati-based Taft's Brewing Co. announced this morning that it has closed Taft's Brewpourium, The Columbus Dispatch reported on October 29.
The closure is "effective immediately," the company said via Instagram Tuesday morning. Its website shares information about the Columbus closure but offers no reason.
Taft's Brewpourium opened in November 2019 at 440 W. Broad St. in Franklinton, on the ground floor of Gravity, a residential-office-retail development west of Downtown.
Kaufman Development, the Columbus company behind Gravity, said Tuesday afternoon that it already has a new restaurant lined up to take over the Taft's space. It will be new to the central Ohio market, the company said, and details will be shared soon.
"Taft's has been a wonderful part of the Gravity community," Kaufman said in a written statement. "While we are sad to say goodbye, we are excited to welcome a new-to-this market restaurant concept into that space scheduled to open in 2025."
Taft's statement thanked its Columbus customers.
"We came to Columbus with a lot of excitement to share our beer and pizza, and we were truly welcomed by all with open arms," Taft's Brewing said.
"We want to wholeheartedly thank our friends, loyal patrons, and the city of Columbus for
...More info on site
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USA, WI: MobCraft Beer being sold, to close Milwaukee taproom by the end of November
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MobCraft Beer, which began its innovative crowdsourced brewery model in 2013, is being sold to an (as of yet) undisclosed buyer and will close its Milwaukee taproom at the end of November. The brewery announced the move on October 30 in a post on its website.
“We’ve poured our heart and souls into the brewery and our community but reached a point where we could no longer operate as a stand-alone organization,” the statement says. “When the opportunity came up to sell the brewery, we decided to consider it to keep our brand around at wholesale, and keep as many of our staff members as possible employed in our taprooms. We’re in the midst of working on the deal now, and there will be changes but they are not fully known yet. The MobCraft you know and love today won’t exist in its entirety after this process, but some aspects will.”
Co-founder Henry Schwartz told Milwaukee Magazine: “We had a financial runway and just got to the end of it. Our production floor was nowhere near capacity and we need a larger entity to help support operations with increased facility output. Since our expansion plans started, we needed increased revenue for the
...More info on site
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World: AB InBev’s third quarter profits, revenues, volumes all well behind forecasts
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Anheuser-Busch InBev on October 31 reported third quarter profits, revenues and volumes all well behind forecasts, as the top brewer sold less beer in
...More info on site
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World: Carlsberg’s volumes fall in Q3 on poor summer weather across Europe
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Carlsberg A/S said on October 31 that volumes fell in the third quarter, as poor summer weather across Europe and a consumer downturn in
...More info on site
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Brazil: Ambev shares trading lower as quarterly sales miss analysts estimates
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Ambev shares are trading lower on October 31.
The company reported third quarter earnings per share of 4 cents, in line with the street view.
...More info on site
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China: Beer market will likely decline again in 2025, Carlsberg CEO
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China’s beer market will likely decline again in 2025, Carlsberg CEO Jacob Aarup-Andersen was quoted as saying by Yahoo Finance.
Beer volumes in China fell
...More info on site
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Brazil: Beer industry growing both in production volume and technological innovation
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The Brazilian beer industry is growing both in production volume and technological innovation. This growth is driven by large companies as well as a
...More info on site
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UK: Asahi to fund research into sustainable solutions to protect British beer hops
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Asahi UK has announced it will fund PhD research into the development of sustainable solutions to protect British beer hops, The Drinks Business reported
...More info on site
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Argentina: Quilmes produces the first gluten-free beer in the country
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Quilmes is preparing to start the production of the first gluten-free beer in Argentina: after a lengthy negotiation with Michelob Ultra, the company aims to create a new market in the country, FreshlyBottled.com reported on October 22.
With an investment of 4.5 million euros and nearly two years of negotiations, the company has confirmed that it will begin producing and marketing Michelob Ultra gluten-free beer, which will be brewed at the Acheral plant in the province of Tucumán in northern Argentina. To achieve this, the brewery modified its facility and met a series of requirements to certify that the entire production process is free from gluten.
"We have wanted to implement this technology for many years, because one of the barriers to the development of the category is people who do not consume gluten. And it is not just those who have celiac disease, but there are many people interested in reducing the amount of gluten," said Eugenio Raffo, vice president of Marketing at Cervecería Y Maltería Quilmes (CMQ), in a statement.
While this will be the first gluten-free beer in the country, AB InBev, owner of CMQ, already produces gluten-free beer under the Stella Artois brand in Chile and Uruguay,
...More info on site
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Vietnam: ThaiBev’s Vietnamese subsidiary fined for selling beer to North Korea
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ThaiBev’s Vietnamese subsidiary is fined US$860,000 by US authorities for breaching US sanctions, Asia Brewers Network reported on October 28.
The Vietnam Beverage Company Limited (VBCL) has agreed to pay a US$860,000 fine to settle alleged violations of US sanctions, according to the U.S. Department of Treasury’s Office of Foreign Assets Control (OFAC). VBCL is a subsidiary of ThaiBev, and is a majority shareholder in Sabeco, Vietnam’s largest brewer and producer of Saigon Special, Saigon Lager, Beer 333 and Lac Viet Beer.
According to the OFAC, VBCL allegedly generated more than US$1 million in sales from beer and spirits exports to North Korea. Between January 2016 and September 2018, the company allegedly issued nearly 50 invoices to North Korean-owned entities. Payments were then made in US dollars through third-party intermediaries based in Hong Kong, China, Turkey, Singapore and the Seychelles.
The transactions triggered sanctions violations under U.S. law, as financial dealings with North Korea are tightly restricted.
Despite the seriousness of the infractions, VBCL avoided a much higher penalty. Initially, the OFAC indicated that the company could have faced fines exceeding US$16 million. However, the final penalty was reduced due to several mitigating factors, including VBCL’s voluntary cooperation, improvements in compliance procedures, and changes
...More info on site
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