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E-Malt.com Newsletter 45b
November 07 - November 10, 2024
Quote of the Week
A little bit of beer is divine medicine.
Paracelsus, Greek physician
Currency Rates
Base Currency: US Dollar
on November 08, 2024 |
Base Currency: Canadian Dollar
on November 08, 2024 |
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1 USD = 0.9284 EUR
1 USD = 0.7724 GBP
1 USD = 1.3883 CAD
1 USD = 1.5054 AUD
1 USD = 153.6650 JPY
1 USD = 5.9976 BRL
1 USD = 97.6716 RUB
1 USD = 7.1565 CNY
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1 CAD = 0.7202 USD
1 CAD = 0.5563 GBP
1 CAD = 0.6687 EUR
1 CAD = 1.0842 AUD
1 CAD = 110.6740 JPY
1 CAD = 4.3197 BRL
1 CAD = 70.3460 RUB
1 CAD = 5.1543 CNY
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Currency Rates Chart
Equities of the Largest Breweries
USA & Canada: Molson Coors forecasts lower full-year sales as Q3 struggles
...Click here
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USA, WI: Molson Coors to close its Leinenkugel’s brewery in Chippewa Falls
...Click here
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USA, SC: Steel Hands Vista Distilling and Brewing to host ribbon cutting ceremony in Columbia on November 8
...Click here
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USA, MI: Arctic Circle Brewing Co. closing for good next month
...Click here
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Japan: Kirin Holdings reports increase in net profit for quarter ended September 30
...Click here
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Vietnam: Leading brewers see profit gains as beer demand grows
...Click here
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World: Barley prices decline led by weakness across wider grain complex
...Click here
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Malaysia: Carlsberg Brewery Malaysia Bhd enjoys 19.8% increase in Q3 net profit
...Click here
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EU & UK: Malting barley prices weaker under the influence of weaker wheat futures
...Click here
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Australia: Coopers Brewery reports 1.5% increase in FY 2024 sales volume
...Click here
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China: Budweiser to launch more premium products in China
...Click here
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South Korea: Beer industry witnessing shift in packaging towards clear bottles
...Click here
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Sri Lanka: Rice shortage caused due to increased use in beer production
...Click here
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Graph of the Week
Table of the Week
US Hop Acreage and Production 2022-2023
Prices Evolution
Barley Prices
Theoretical Malt Prices
These Days in Business History
07 November
1865 - London Gazette, oldest surviving journal, is founded
1867 - Marie Curie is born, French Scientist, discovered radium, Nobel 1903, 1911
1929 - The stock market sludges through a day of murky panic, as 2.4 million shares trade in the first half-hour, one of the heaviest openings yet on record
08 November
1789 - Bourbon Whiskey, 1st distilled from corn (by Elijah Craig, Bourbon Ky)
1793 - Louvre opens in Paris
09 November
1731 - Benjamin Banneker, the brilliant African-American mathematician and inventor, is born on a farm in Ellicott's Mills, Md
1801 - Gail Borden, Jr. is born to Gail and Philadelphia Borden in Norwich. After a decade of constant experimentation with preserving food, Borden is awarded is awarded a U.S. patent for condensed milk in 1856
10 November
1544 - Antwerps painter John Matsys banished
1891 - Granville T. Woods patents electric railway
1951 - 1st long distance telephone call without operator assistance
1997 - WorldCom and MCI Communications announce a $37 billion merger (the largest merger in US history at the time)
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
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USA & Canada: Molson Coors forecasts lower full-year sales as Q3 struggles
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Molson Coors on November 7 forecast lower full-year sales and missed Wall Street estimates for quarterly revenue as the Coors Light beer maker grapples with a hit to volumes in the United States amid higher prices.
The company, like its peer Constellation Brands, has had to rely on higher pricing to offset an increase in costs faced by the industry against the backdrop of sticky inflation.
“The U.S. was challenged with the macroeconomic environment along with anticipated unfavourable shipment timing and the wind down of a contract brewing agreement,” Molson Coors said.
The company now expects 2024 net sales to be down about 1 per cent, compared with its prior forecast of a low single-digit percentage increase.
While customers stretched their budgets to purchase the company’s products up until recently, the downbeat sales forecast indicates inflation is still weighing on consumers.
Molson Coors posted a 5.4 per cent fall in Americas brand volumes during the third quarter, primarily driven by a drop in volumes of its higher-priced brands.
The company’s quarterly net sales fell 7.8 per cent to $3.04-billion, compared with the average analyst estimate of $3.13-billion, according to data compiled by LSEG.
On an adjusted basis, Molson Coors earned $1.80 per share, beating estimates of $1.67
...More info on site
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USA, NY: Two Farms Brewing opens in Mamakating
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The Sullivan Catskills Visitors Association is thrilled to announce the successful grand opening of Two Farms Brewing, the newest addition to the region's vibrant craft beverage scene, ILoveNY.com reported on November 7.
Set against the serene backdrop of Winterton Farms in Mamakating, the brewery welcomed visitors over the November 1st-3rd weekend for a series of festive events, drawing craft beer enthusiasts, families, and community members alike to enjoy locally crafted brews in an immersive farm setting.
The grand opening weekend kicked off with a ribbon-cutting ceremony on Friday, November 1, at 4:00 PM, celebrating the official launch of Two Farms Brewing with local officials, community leaders, and guests. The occasion was marked by happy hour specials, live music, family-friendly entertainment, and delectable food offerings, including local favorites Hank’s Franks and comfort fare from Luna’s Cocina. The brewery’s outdoor terrace provided the perfect spot for visitors to savor small-batch beers crafted from ingredients sourced directly from Winterton Farms and other nearby suppliers.
“We’re thrilled to welcome Two Farms Brewing to the Sullivan Catskills,” said Roberta Byron-Lockwood, President and CEO of the Sullivan Catskills Visitors Association. “Their commitment to showcasing the unique flavors of the Catskills through local ingredients aligns beautifully with our region’s
...More info on site
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USA, WI: Molson Coors to close its Leinenkugel’s brewery in Chippewa Falls
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Molson Coors is announcing plans to close the Leinenkugel’s brewery in Chippewa Falls, ending a more than century-and-a-half tradition of brewing in northwestern Wisconsin, WTMJ reported on November 6.
Former President of the Jacob Leinenkugel Brewing Company Dick Leinenkugel released the following statement to WTMJ on November 6:
“I am deeply saddened by the decision of the Molson Coors leadership team to close our Chippewa Falls brewery and home. For over 157 years and six generations of family management, Leinenkugel’s has been brewing great beers for our legions of fans throughout Wisconsin and across the country.
“I feel for all impacted employees and their families in Chippewa Falls and trust that the Molson Coors leadership will do everything possible to ease their pain during this challenging time.
“I know the Molson Coors leaders don’t take these decisions lightly. It’s clear to me that they determined that the savings resulting from the closure were significant enough to justify this difficult decision.
“None of our family members were aware or counseled ahead of the decision. It’s a sad day for our family and our fans. In 2017, we came together in Chippewa Falls to celebrate our brewery’s 150th anniversary. It was the defining moment of my career
...More info on site
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USA, SC: Steel Hands Vista Distilling and Brewing to host ribbon cutting ceremony in Columbia on November 8
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A new brewery and distillery is opening in Columbia, and its opening with a bang this weekend, COLAtoday reported on November 6.
Steel Hands Vista Distilling and Brewing will host a ribbon cutting ceremony on Friday, Nov. 8 at 4:30 p.m. This marks the grand opening of its new location at 705-A Gervais St., and it kicks off the start of a two-day party.
Starting at 5 p.m., local artist Preston Duffee will provide live music and early birds can sip complimentary spirit tastings of Steel Hands’ gin, vodka, and pecan rye whiskey. The full drink menu will also be available during this team.
The fun returns on Saturday with three more local bands playing live music throughout the day, starting at 1 p.m. There will also be a rotating espresso martini menu from 1-10 p.m., starting with pumpkin spice latte and ending with peppermint.
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USA, NM: Marble Brewery finds a potential buyer
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There’s a potential buyer for Marble Brewery. In a statement, the brewery said the sale is not final yet but that the prospective buyer is “prepared to lead” its evolution, KRQE reported on November 6.
The owner shot down rumors last month that they were planning to close. They said there will be no interruptions in service during this transition which is expected to be completed by the end of the year. The popular spot was founded in 2008 and has locations on Albuquerque’s westside, northeast heights, and downtown.
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USA, MI: Arctic Circle Brewing Co. closing for good next month
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Three years after opening, Chesterfield Township's Arctic Circle Brewing Co. is closing next month, FOX 2 Detroit reported on November 7.
The brewery started as a venture between high school friends, with the beers being brewed in one of their homes. Arctic Circle fully opened on 23 Mile Road in 2021, but after economic struggles and a drop in patronage, the business decided to call it quits for now.
"It is impossible for us to keep going," the owners said in a post announcing the closure.
The brewery said its final day will be some time in December, though the exact date hasn't been determined. The closure announcement was made early so people could make time to visit. The brewery also said it plans to hold some special events before the doors shutter.
"This isn’t goodbye forever — just the end of this chapter. We’re incredibly grateful for the support, laughs, and good times shared over the last 3 years. Let’s make these last couple months ones to remember," the owners wrote.
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Japan: Kirin Holdings reports increase in net profit for quarter ended September 30
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Kirin Holdings Co., Ltd., a manufacturer of beverages and pharmaceutical products, on November 7 reported profit before tax of 156.005 billion yen for the
...More info on site
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Vietnam: Leading brewers see profit gains as beer demand grows
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The beer industry in Vietnam experienced notable growth in Q3 2024, with Sabeco and Habeco both reporting higher revenues and profits, VietNamNet reported on
...More info on site
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World: Barley prices decline led by weakness across wider grain complex
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Barley price direction in is downward across all regions and for both malting and feed barley. The decline is once again led by weakness
...More info on site
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Malaysia: Carlsberg Brewery Malaysia Bhd enjoys 19.8% increase in Q3 net profit
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Carlsberg Brewery Malaysia Bhd said its net profit increased 19.8% in the third quarter from a year earlier, bolstered by better performance in Malaysia,
...More info on site
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EU & UK: Malting barley prices weaker under the influence of weaker wheat futures
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EU and UK malting barley prices are weaker, influenced to a large degree by weakness in wheat futures, and the ongoing weak demand picture,
...More info on site
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Chile: Chilean brewer CCU reports Q3 2024 results
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Compania Cervecerias Unidas (CCU) on November 6 reported third-quarter earnings of $31.7 million.
On a per-share basis, the Santiago, Chile-based company said it had profit
...More info on site
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Australia: Coopers Brewery reports 1.5% increase in FY 2024 sales volume
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Coopers Brewery has reported a total sales volume of 78.7 million litres for Financial Year 2024, a 1.5% increase on the year prior. Similarly, total profits increased from A$28.5 million to A$32.8 million. Managing Director Tim Cooper describes this as “a pleasing result for Coopers in light of the tough market conditions,” which have seen the category contract by 2.6%, Drinks Trade reported on November 8.
“To achieve growth at a time of rising costs of living is very encouraging for our sales and marketing teams,” continued Cooper.
“We like to talk to our brewing credentials and value-for-money across our portfolio, with consumer research continuing to highlight growing support for authentic brands that can be trusted, are high-quality and affordable.”
Coopers Brewery experienced growth across both kegged and packaged beer sales. Representing 12% of the total, sales of Coopers kegs increased by 1% on FY23, whilst sales of packaged beer increased by 1.5%. The ratio of cans to bottles has also increased, with canned sales now responsible for 43% of all total packaged beer.
Coopers partially attributes its volume growth to the ongoing success of Coopers Australian Lager.
“Since it was launched in August last year, Coopers Australian Lager has performed exceptionally well,” said Cooper.
“It’s
...More info on site
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China: Budweiser to launch more premium products in China
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As China's beer market moves toward premiumization and flavor diversification, Budweiser APAC, the largest beer company in the Asia-Pacific by sales revenue, will introduce more premium products into the country to meet the market demand, said the company's top executive, China Daily reported on November 8.
Believing that premium products - an unwavering trend driven by increasing consumer expectations, Jan Craps, CEO and co-chair of Budweiser APAC, said China's middle-income group is notably propelling this trend.
"Fueled by the country's economic growth, China's middle-income group will continue to expand, driving continued premiumization in the beer market," said Craps, adding that with a focus on premiumization, digitalization and market expansion, the company is committed to driving the premiumization of beer consumption in China.
In addition to launching its first zero-sugar beer - Harbin IGD Zero Sugar, Budweiser APAC has introduced Budweiser Zero and Corona Cero, two non-alcoholic beers, to the Chinese market.
In 2008, the group began working with the predecessor of the China Alcoholic Drinks Association to kick off the smart drinking campaign, one of the first in the alcohol industry.
As a multinational promoting smart drinking in China for the past 17 years, Craps said that Budweiser China has introduced innovative concept each year
...More info on site
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South Korea: Beer industry witnessing shift in packaging towards clear bottles
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South Korea’s beer industry is witnessing a significant shift in packaging as major breweries embrace clear bottles, marking a departure from traditional colored glass containers, Korea Bizwire reported on November 7.
The trend began in 2021 when Oriental Brewery (OB) introduced the country’s first domestically produced beer in clear bottles with its Cass Fresh brand. The transparent packaging attracted consumers by allowing them to visually appreciate the beer’s clarity while presenting a clean, fresh image.
Following OB’s lead, other major breweries have joined the clear bottle movement. Lotte Chilsung Beverage launched its fourth-generation beer Kloud Crush in clear bottles in November last year, while Hite Jinro introduced its new light beer Terra Light in transparent packaging this July. With these launches, all three major domestic beer manufacturers now offer flagship brands in clear bottles.
The competition in the beer market has also expanded into the light beer segment, responding to growing consumer demand for lower-calorie options. OB’s Cass Light led the domestic light beer market in the first half of this year.
The company further strengthened its light beer lineup in May by introducing Michelob Ultra, a premium light beer that has achieved market leadership in the United States. Hite Jinro joined
...More info on site
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Sri Lanka: Rice shortage caused due to increased use in beer production
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The Small and Medium Scale Rice Mill Owners' Association has claimed that the growing rice shortage in the market is due to increased use of raw rice for beer production, the Daily Mirror reported on November 7.
They explained that Nadu paddy, used to make raw rice for brewing, is being diverted from regular rice production, limiting the available supply.
Farmers have also expressed similar concerns and are urging the government to step in and stabilize rice prices.
Shopkeepers report difficulty in purchasing rice at government-set prices, adding further strain to the market.
In recent weeks, rice prices have risen sharply in local markets, leading to a noticeable shortage of Nadu rice for consumers.
When asked about the use of rice in beer production, the Consumer Affairs Authority (CAA) chairman said they were unaware of the process.
Meanwhile, the Trade Ministry Secretary submitted a report on rice and paddy stocks, compiled by the CAA, to President Anura Kumara Dissanayake yesterday.
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