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E-Malt.com Newsletter 48b November 28 - December 01, 2024
Quote of the Week
Of beer, an enthusiast has said that it could never be bad, but that some brands might be better than others.
A.A. Milne
Currency Rates
Base Currency: US Dollar on November 29, 2024 |
Base Currency: Canadian Dollar on November 29, 2024 |
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1 USD = 0.9478 EUR
1 USD = 0.7891 GBP
1 USD = 1.4013 CAD
1 USD = 1.5391 AUD
1 USD = 151.5850 JPY
1 USD = 5.9700 BRL
1 USD = 110.1000 RUB
1 USD = 7.2454 CNY
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1 CAD = 0.7135 USD
1 CAD = 0.5630 GBP
1 CAD = 0.6763 EUR
1 CAD = 1.0982 AUD
1 CAD = 108.1610 JPY
1 CAD = 4.2598 BRL
1 CAD = 78.5602 RUB
1 CAD = 5.1699 CNY
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Currency Rates Chart
Equities of the Largest Breweries
USA: America's favorite beer could be more expensive next year
...Click here
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USA, PA: Local Remedy Brewing coming to Oakmont already in January
...Click here
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USA, OH: Ohio Brewing Co. sold, new ownership coming in December
...Click here
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USA, NY: Two Farms Brewing launches in Bloomingburg
...Click here
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USA, WA: Crucible Brewing no longer closing, finds lifeline in new owners
...Click here
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Malaysia: Carlsberg Brewery Malaysia reports 19.8% increase in net profit for Q3 2024
...Click here
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United Arab Emirates: Heineken plans first large-scale brewery in Dubai
...Click here
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Germany: Bitter varieties now account for 53% of German hop acreage
...Click here
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Argentina: Barley crop forecast at 5.2 mln tonnes as more rainfall received across southern Buenos Aires
...Click here
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India & Nepal: Carlsberg completes acquisition of the remaining shares in Carlsberg South Asia PTE LTD
...Click here
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India: Lord Bilimoria announces departure from Cobra Beer
...Click here
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Graph of the Week
Table of the Week
World Barley Supply & Demand
Prices Evolution
Barley Prices
Theoretical Malt Prices
These Days in Business History
28 November
1895 - The Chicago Times-Herald sponsors the first automobile race in U.S. history. The winner's average speed clocks in at roughly 7 mph
1946 - 1st Polaroid camera sold
29 November
1775 - Sir James Jay invents invisible ink
1877 - Thomas Edison demonstrates hand-cranked phonograph
1993 - CNN/fn, the financial network by Turner Enterprises, launched
30 November
1886 - 1st commercially successful AC electric power plant opens, Buffalo
1924 - 1st photo facsimile transmitted across Atlantic by radio (London-NYC)
1983 - Police free kidnapped beer magnate Alfred Heineken in Amsterdam
1998 - Exxon and Mobil sign a US$73.7 billion agreement to merge, thus creating ExxonMobil, the world's largest company
1999 - British Aerospace and Marconi Electronic Systems merge to form BAE Systems, Europe's largest defense contractor and the fourth largest aerospace firm in the world
2005 - First human face transplant is performed in France
01 December
1878 - 1st White House telephone installed
1910 - Continuous moving assembly line introduced by Ford (car every 2:38)
1959 - 1st color photograph of Earth from outer space
Agenda
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 - 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)
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)
November 2025:
10 - 12: 15th Iberoamerican VLB Symposium Brewing & Filling Technology (Parana, Brasil)
News Articles
Canada: Canadian barley supplies near 25-year lows
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According to Agriculture and Agri-Food Canada (AAFC) estimates, ending stocks of barley are set to be the second lowest of the past 25 years.
...More info on site
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USA: America's favorite beer could be more expensive next year
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America's favorite beer could be more expensive next year if Donald Trump implements his threatened trade tariffs, MSN reported on November 28.
The President-elect has promised to bring in tariffs of 25 percent on America's two largest trading partners, Mexico and Canada, on day one of his presidency.
Modelo Especial Lager, which has overtaken Bud Light as the top selling beer in the US, is imported from Mexico by parent company Constellation Brands.
If the entire cost of the tariff is passed on to consumers, then a six-pack of Modelo would rise from around $11 to $13.75, USA Today reported.
Constellation Brands, which also owns Corona beer, saw its stock fall three percent off the back of Trump's tariff announcement.
And it is not just beer that could go up in price if Trump follows through on his proposals.
All alcoholic beverages imported from Mexico and Canada would potentially have higher retail prices, Bump Williams, whose consulting firm services the beverage industry, told USA Today.
This includes Mexican beer, but also tequila and Canadian whisky.
A 750-milliliter bottle of tequila, which is usually priced at between $25 and $50, could increase to between $31.25 and 62.50, according to the outlet.
A 750ml bottle of
...More info on site
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USA, PA: Local Remedy Brewing coming to Oakmont already in January
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Local Remedy Brewing plans to open on Jan. 3. Maybe then, co-owner Dr. Matthew Synan can stop and catch his breath, Pittsburgh Magazine reported on November 27.
The critical care pulmonologist and his business partners have spent nearly a year transforming Oakmont Bakery’s former headquarters into the borough’s first production brewery. You don’t have to be a MD to tell that a lot of blood, sweat and tears went into this passion project.
The Allegheny Avenue taproom is bright and beautiful, with a garage door facade that lets Mother Nature in. She’s already a big fan of the business since their tables, window seat benches and bar top are made from Oakmont trees that had to be removed last summer. (This town loves its trees, so calling in a chainsaw isn’t a decision officials take lightly. Recently, in recognition of Oakmont’s environmental stewardship, The Arbor Day Foundation gave it the title of Tree City USA.)
With help from Oakmont’s Shade Tree Commission, Beaver Jack Tree Service and furniture makers The Wooden Whale Workshop, Local Remedy now has unique, utilitarian works of art, which are each tagged with the tree’s species and its previous location.
The 10-barrel brewhouse will churn out a wide variety of
...More info on site
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USA, OH: Ohio Brewing Co. sold, new ownership coming in December
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Ohio Brewing Co., which spent the past five years on Front Street in Cuyahoga Falls, has been sold, Cleveland.com reported on November 27.
Owners and brothers Chris and Michael Verich confirmed the sale via social media, posting on Facebook that an unnamed restaurant company has acquired the brewery. An appreciation event is scheduled for Saturday, Dec. 7.
In the post, Verich said the sale is effective in mid-December and that a cadre of changes might be coming affecting the name, design, menu and décor. He anticipated changes for spring 2025.
When reached early on November 27, Chris Verich said he was not ready to elaborate on details of the sale.
Ohio Brewing Co. has led a peripatetic lifestyle for 27 years. The brothers opened the brewery July 3, 1997, as the first one in Trumbull County since the 19th century. It was one of just a handful of breweries in the state at the time. It lasted in its location across from Eastwood Mall for a few years until financial challenges and a lease due forced the closure.
They tried moving to Youngstown, but that didn’t work out. In 2008, in a partnership with Damon’s Grill, Ohio Brewing moved into the former O’Neil’s department store
...More info on site
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USA, NY: Two Farms Brewing launches in Bloomingburg
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The Sullivan Catskills Visitors Association recently announced the successful grand opening of Two Farms Brewing, the newest addition to the region's craft beverage scene, The River Reporter reported on November 28.
Located near Winterton Farms, the brewery welcomed visitors over the November 1-3 weekend for a series of events.
A ribbon-cutting ceremony was held on November 1.
Food from Hank’s Franks and Luna’s Cocina was on hand, and small-batch beers (crafted from ingredients sourced locally) were available.
Two Farms Brewing is located at 689 Winterton Rd.
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USA, WA: Crucible Brewing no longer closing, finds lifeline in new owners
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Crucible Brewing, set to close at the end of the year, will be closing no more, Everett Herald reported on November 29.
The south Everett craft brewery’s owners, Dick Mergens and Shawn Dowling, announced in August that unless new owners purchased the location, the brewery would close.
It was perfect timing for Erik Andresen and his wife, Johanna Watson-Andresen, to step up and take over.
“We’re honestly just very relieved,” Mergens said. “It wasn’t necessarily something Shawn and I wanted to do, as far as closing goes, but we’re very happy we’ve found someone passionate about the industry, business-minded, and intelligent. I feel like we’re leaving it in good hands.”
Andresen and Watson-Andresen were regulars at the brewery, having met across the street at a now-closed gym, North Corner Studios. Andresen had been a customer since Crucible opened in 2015, and the couple had some of their first dates there once COVID-19 restrictions loosened.
After the husband and wife duo signed an agreement in October, the purchase of Crucible, located at 909 SE Everett Mall Way, will become official Jan. 1. The two hope to start renovations that day — a process Andresen estimated will take a couple of weeks. The couple plans a grand
...More info on site
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Malaysia: Carlsberg Brewery Malaysia reports 19.8% increase in net profit for Q3 2024
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Carlsberg Brewery Malaysia Bhd has reported a net profit of RM91 million for the third quarter ended Sept 30, 2024 (Q3’24), an increase of
...More info on site
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United Arab Emirates: Heineken plans first large-scale brewery in Dubai
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Dubai is poised to get the Gulf’s first large-scale brewery as a Heineken NV joint venture plans to start producing popular beer brands in the emirate, a landmark move for a region that’s long had strict restrictions around the sale and consumption of alcohol, BNN Bloomberg reported on November 28.
Sirocco, a joint venture of Heineken NV and Dubai-based Maritime and Mercantile International, will start building the brewery late next year and has secured all necessary permits, the company said a statement. Construction is set for completion in 2027.
Dubai is the Middle East’s business and tourism hub, and among the region’s most cosmopolitan cities. Officials first allowed alcohol consumption and sale over two decades ago and rules have since been gradually loosened amid a surge in tourism. The city also recently made it easier for residents to buy alcohol, scrapping a 30% sales tax and a liquor license fee even though sales to Muslims remain restricted.
The new brewery offers a look at the steps the Gulf’s rulers are taking to open their economies in a Muslim region with conservative social norms. Governments in the Middle East are increasingly trying to cut their reliance on oil, and in Dubai there’s been
...More info on site
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Germany: Bitter varieties now account for 53% of German hop acreage
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The trend towards less aroma hops and more bitter hops in Germany continues in 2024. As in recent years, the proportion of bitter hops
...More info on site
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Argentina: Barley crop forecast at 5.2 mln tonnes as more rainfall received across southern Buenos Aires
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Argentina’s barley crop’24 development is progressing as more rainfall was received across southern Buenos Aires province. This continued favourable situation aligns to RMI Analytics’
...More info on site
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India & Nepal: Carlsberg completes acquisition of the remaining shares in Carlsberg South Asia PTE LTD
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Carlsberg announced on November 29 it has completed its acquisition of the remaining 33.33% shareholding in Carlsberg South Asia Pte Ltd (CSAPL) from CSAPL (Singapore) Holdings Pte Ltd.
CSAPL is the holding company for Carlsberg India Pvt. Ltd. (CIPL) (100%) and the business in Nepal through its shareholding in Gorkha Brewery Private Limited (GBPL).
As outlined in a media statement of 2 August 2024, Carlsberg now owns 100% of the existing business in India and, through CSAPL’s shareholding in GBPL, 99.94% of the existing business in Nepal.
The total purchase price for the acquired shareholdings in CSAPL and GBPL amounts to USD 744m, of which approximately USD 50m will be settled through a set-off. A further USD 207m will be retained by Carlsberg and released depending on potential claims under the SPA (likely after 3-5 years).
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India: Lord Bilimoria announces departure from Cobra Beer
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The founder of Cobra Beer, Lord Karan Bilimoria, has announced his decision to step down as chairman, marking the end of an era for the iconic brand, Eastern Eye reported on November 29.
The move comes after Bilimoria has reportedly repaid nearly all of the creditors impacted by the company’s financial collapse over a decade ago.
Cobra, established by Bilimoria in 1989, faced a dramatic downturn in 2009, entering administration with debts of over £70 million owed to 340 creditors.
In a bid to rescue the business, Bilimoria partnered with American brewing giant Molson Coors—producer of brands such as Carling, Doom Bar, and Blue Moon—in a controversial pre-pack administration.
This strategy allowed the formation of a joint venture where Bilimoria retained a 49.9 per cent stake and assumed the role of chairman.
Initially set up for ten years, the joint venture was extended in May 2019. Throughout this period, Bilimoria remained committed to his pledge of repaying creditors through his share of dividend payments. While in 2019 he reiterated his determination to fulfill this promise, it did not include some investors who had insurance coverage against Cobra’s insolvency.
The businessman has now paid back 99 per cent of the £72 million the business owed to creditors,
...More info on site
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