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E-Malt.com Newsletter 49b December 05 - December 08, 2024
Quote of the Week
I am grateful for what I am and have. My thanksgiving is perpetual.
Henry David Thoreau
Currency Rates
Base Currency: US Dollar on December 06, 2024 |
Base Currency: Canadian Dollar on December 06, 2024 |
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1 USD = 0.9480 EUR
1 USD = 0.7854 GBP
1 USD = 1.4051 CAD
1 USD = 1.5527 AUD
1 USD = 150.1840 JPY
1 USD = 6.0188 BRL
1 USD = 102.8460 RUB
1 USD = 7.2628 CNY
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1 CAD = 0.7116 USD
1 CAD = 0.5589 GBP
1 CAD = 0.6746 EUR
1 CAD = 1.1050 AUD
1 CAD = 106.8730 JPY
1 CAD = 4.2831 BRL
1 CAD = 73.1869 RUB
1 CAD = 5.1683 CNY
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Currency Rates Chart
Equities of the Largest Breweries
USA: Beer segment story from the US remains mostly disappointing
...Click here
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Canada, QC: Quebec government wants to put an end to stamping of microbrewery beers
...Click here
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USA, PA: Vault Brewing Company’s new location to open in downtown Easton on December 7
...Click here
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USA, ME: Oxbow Brewing Company to acquire Rising Tide Brewing in Portland
...Click here
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USA, NY: Mountain King Brewing Company opens in Windham
...Click here
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USA, OH: Taft’s Brewing Company sells its brand to Cincinnati Beverage Company
...Click here
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USA, SC: Voodoo Brewing Company to close after December 8
...Click here
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Denmark & Russia: Carlsberg finalizes sale of Russian assets
...Click here
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World: Global barley production estimate steady at 141.3 mln tonnes
...Click here
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UK: 2024 poised to see record no-and-low alcohol beer sales
...Click here
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World: Malting barley prices moving slightly higher
...Click here
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EU & UK: Barley trade remains quiet amid poor demand
...Click here
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The Netherlands: Heineken stock downgraded to Hold by Deutsche Bank
...Click here
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South Africa: National Treasury extends deadline for comment on their taxation of alcohol discussion paper
...Click here
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India: Medusa Beverages aims to double its volumes through capacity expansion in Punjab
...Click here
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Benelux & France: AB InBev announces new business unit president for France and Benelux
...Click here
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UK: Guinness supplies being limited after demand soars
...Click here
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Graph of the Week
Table of the Week
Poland Hop Area and Production and Alpha Acid Output 2009-2024(s)
Prices Evolution
Barley Prices
Theoretical Malt Prices
These Days in Business History
05 December
1492 - Christopher Columbus discovers Hispaniola (El Espanola/Haiti)
1791 - Wolfgang Amadeus Mozart, composer, dies in Vienna Austria at 35
1792 - George Washington re-elected U.S. pres
1879 - 1st automatic telephone switching system patented
1880 - Blue Jeans are invented
1880 - Walter Elias Disney was born, Chicago IL, animator (father of Mickey Mouse)
1978 - European Union establishes EMS, European Monetary System
1985 - Dow Jones Industrial Average rises above the 1,500 level for 1st time
1989 - France TGV train reaches world record speed of 482.4 kph
06 December
1492 - Haiti discovered by Columbus, at Mole Saint Nicolas
1768 - 1st edition of "Encyclopedia Brittanica" published (Scotland)
1877 - Washington Post publishes 1st edition
1922 - 1st electric power line commercial carrier in U.S., Utica, New York
07 December
1877 - Thomas A Edison demonstrates the gramophone
1926 - Gas refrigerator patented
1941 - Japanese attack Pearl Harbor (a date that will live in infamy)
1945 - Microwave oven patented
08 December
1794 - 1st issue of Herald of Rutland, VT published
1863 - Abraham Lincoln announces plan for Reconstruction of South
1923 - Salary and price freeze in Germany
1993 - Dow-Jones hits record 3734.53
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
USA: Beer segment story from the US remains mostly disappointing
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The beer segment story from the USA remains mostly disappointing according to the latest US Beer data.
The overall Beer Purchasers’ Index is down
...More info on site
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Canada, QC: Quebec government wants to put an end to stamping of microbrewery beers
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The Quebec government wants to put an end to the stamping of microbrewery beers. This is a measure that small hop producers have long been calling for, CTV News Montreal reported on December 4.
According to the microbreweries, the obligation to affix stamps to their cans and glass bottles is both unnecessary and time-consuming.
Quebec microbreweries association managing director Marie-Eve Myrand was jubilant after the minister presented his bill.
“We're really pleased with this abolition, which we've been calling for for several years. You can't minimise the impact on SMEs of having to manage a marking system like this,” she told The Canadian Press in an interview at the National Assembly on Wednesday.
Since 1971, the law has required a duty stamp to be affixed to all beer sold in restaurants and bars. The original aim was to prevent smuggling and tax evasion.
“There have been a lot of changes in pricing, and the harmonization of prices meant that the stamp was becoming a bit archaic. Imagine an entrepreneur with three or four employees who has to devote a full-time job to affixing stickers to a container that, basically, no longer makes any sense in terms of taxation,” said Economy Minister Christopher Skeete, who is
...More info on site
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USA, PA: Vault Brewing Company’s new location to open in downtown Easton on December 7
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Vault Brewing Company’s new location in downtown Easton, PA will open its doors on December 7th, Breweries in PA reported.
This new brewpub is located in the heart of downtown Easton at 225 Ferry Street, only a few blocks from the Crayola Experience and other local shops and restaurants. The building is spacious and beautiful, with an open and industrial feeling, and has an outdoor patio space.
Initial plans for the space include a bar offering Vault Brewing’s craft beer and local PA spirits, an open dining room for guest seating, some patio seating, and a full kitchen in the back of the building. Secondary plans include a private dining space and a private event space located on the second floor.
At Vault Brewing Easton, Vault intends to bring you the same quality craft beer you’ve come to know and love, as well as a rotating local and seasonal menu from their Chef, Will Porras. Some of their classic and favorite items from the flagship location will make an appearance on Easton’s menu, but they also promise many brand-new and exciting items yet to come.
This new spot marks Vault Brewing’s second location, but the sixth business operating under the Vault Brewing & Companies
...More info on site
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USA, ME: Oxbow Brewing Company to acquire Rising Tide Brewing in Portland
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Oxbow Brewing Company announced on December 4 that it would acquire Portland-based Rising Tide Brewing in the coming weeks, Bangor Daily News reported.
Oxbow, which was founded in 2011 in the Lincoln County town of Newcastle, said it would acquire Rising Tide later this month. Oxbow founder Tim Adams said that Rising Tide founders Heather and Nathan Sanborn were “instrumental” figures in Maine’s brewing industry, and that Rising Tide’s selection of beers would complement Oxbow’s.
“Their team does an amazing job and their brewing values are in line with our own,” said Adams, in a Facebook post announcing the acquisition. “They take their time and make decisions with a quality-above-all-else mentality.”
Rising Tide, founded in 2010, was one of the first breweries in Portland’s East Bayside neighborhood, which is now a nationally recognized craft beer destination. It specializes in traditional American and European beers, and its flagship beer is Maine Island Trail Ale, a session IPA that benefits the Maine Island Trail Association.
Adams said Oxbow would still produce Rising Tide beers, with Nathan Sanborn continuing to brew those beers. Rising Tide’s Portland brewery will also stay open.
Oxbow has three locations statewide, including its original brewery in Newcastle; its popular Portland location,
...More info on site
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USA, NY: Mountain King Brewing Company opens in Windham
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A new brewery opened on the mountaintop. Mountain King Brewing Company opened its first taproom, 5351 Main Street in Windham, on Friday, Nov. 29., NEWS10 ABC reported.
“The owner lives in Windham and felt the town needed a brewery, as mountain towns do,” a representative for the business said.
The brewery will offer a variety of house-made beers, anywhere from 8 to 12. Currently on tap are an ale, a pilsner, a porter, and an India Pale Ale. The tap also includes a hard seltzer and a pinot grigio for non-beer drinkers.
Although there is no industrial kitchen at the brewery, food options will still be available. Since opening, the brewery has offered snacks to eat while enjoying a drink. The brewery has soft-baked pretzels and a charcuterie pretzel, with meats and cheese around it.
“We are not a restaurant, there are plenty of great ones in town already,” Mountain King said.
According to the business, they wanted to create a brewery that fits into the area, where craft beer enthusiasts and domestic beer drinkers can come together and enjoy their offerings. Mountain King Brewery believes they will be a good fit for the Main Street environment.
“The town has seen a handful of new businesses
...More info on site
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USA, OH: Taft’s Brewing Company sells its brand to Cincinnati Beverage Company
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Taft’s Brewing Company announced the purchase of the brand by Cincinnati Beverage Company on Wednesday, December 4, Fox19.com reported.
While Taft’s beer will still be sold in bars, restaurants, grocery stores, and other outlets in the Tri-State, the brewing company also announced on Dec. 4 that the Brewpourium, located at 4831 Spring Grove Ave, will close for good on Dec. 29.
This comes after Taft’s permanently closed its Over-The-Rhine Alehouse in 2023 after eight years of operation and its downtown Columbus Brewpourium in October 2024 after five years.
“We truly love Taft’s. It has been an incredible labor of love for over a decade. We know how important this brand has become to craft beer drinkers in Cincinnati, and we take that very seriously. We’re beyond thrilled to keep Taft’s beers alive via Cincinnati Beverage and ensure these brews continue to be available throughout the city.”
Taft’s Director of Communications, Erin Weinert, says the Brewpourium team has primarily been with the company since the Spring Grove Village taproom opened in 2017.
Staff was given advanced notice of the closure and will pay severance to each employee, Weinert continues. Taft’s is offering new jobs for taproom staff, where available, and contacting local businesses for openings.
Cincinnati Beverage
...More info on site
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USA, SC: Voodoo Brewing Company to close after December 8
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A Murrells Inlet brewery says it will close its doors for good after this weekend, WMBF reported on December 4.
In a Facebook post on December 4, Voodoo Brewing Company announced that Sunday, Dec. 8, will be their final day of business.
“To everyone who has continued to support us, thank you! This last year is one we will never forget and we will deeply miss seeing all of your smiling faces,” the business wrote in its post.
The brewery, which first opened last year in Murrells Inlet, also said all food and drinks will be 25% off along with discounts on merchandise.
Activities including music bingo, live music and karaoke are also scheduled into the weekend.
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EU: EU malt exports rebound in past two months
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Malt exports from the EU have rebounded the past two months, moving into alignment with the crop’22 shipping levels and showing improvement over both
...More info on site
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EU: 2023 beer sales in the EU 3% down on 2022
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Beer remains a “motor” for Europe’s economy but continues to face multiple challenges, ranging from the aftershocks of the Covid pandemic to supply chain
...More info on site
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Denmark & Russia: Carlsberg finalizes sale of Russian assets
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Danish brewer Carlsberg has finalised the sale of its assets in Russia to local company VG Invest, Russian company filings showed on December 6,
...More info on site
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World: Global barley production estimate steady at 141.3 mln tonnes
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Not much has changed with the overall global barley supply situation, with RMI Analytics’ global barley production estimate steady at 141.3 mln tonnes, down
...More info on site
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UK: 2024 poised to see record no-and-low alcohol beer sales
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With the popularity of low and no alcohol products on the rise in the UK, the industry calls on government action to align with
...More info on site
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World: Malting barley prices moving slightly higher
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The world’s malting barley prices are moving slightly higher across the board, with the exception being Argentine malting barley, RMI Analytics said in their
...More info on site
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EU & UK: Barley trade remains quiet amid poor demand
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The tone in the EU barley market remains rather unexciting, as trade is very quiet with demand remaining poor, RMI Analytics said in their
...More info on site
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The Netherlands: Heineken stock downgraded to Hold by Deutsche Bank
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On December 4, Deutsche Bank adjusted its stance on Heineken NV, downgrading the stock from Buy to Hold and reducing its price target to €76.00 from the previous €95.00. The bank's analysis acknowledged Heineken's diverse global presence and its strong position in the premium and non-alcoholic beer segments as positive factors, Investing.com reported.
According to InvestingPro data, Heineken, currently trading at $36.84, is near its 52-week low of $36.45, with a market capitalization of $40.56 billion. Despite these advantages, the bank pointed to Heineken's underwhelming financial performance from 2019 through 2024, which has made the case for accelerated profit growth in 2025 and beyond less convincing.
The bank noted that while Heineken has encountered several external challenges during the referenced period, the current valuation based on consensus estimates appears relatively appealing. InvestingPro analysis shows the company trading at a P/E ratio of 36.68, with revenue growth of 3.04% in the last twelve months. Nonetheless, Deutsche Bank expressed concern over potential near-term risks to these estimates. This caution has led to the decision to downgrade the stock's rating.
The analyst's commentary highlighted the attractiveness of Heineken's broad geographic footprint and the company's favorable positioning within the premium beer and low to non-alcoholic beer market
...More info on site
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UK: 2024/2025 barley crop, availability increase
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The Agricultural and Horticultural Development Board (AHDB) is estimating the total availability of barley in the UK this season at 8.497Mt. The figures relate
...More info on site
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South Africa: National Treasury extends deadline for comment on their taxation of alcohol discussion paper
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South Africa’s National Treasury has extended the deadline for comment on their taxation of alcohol discussion paper, The Citizen reported on December 4.
Submissions on a proposal to increase the excise tax on alcoholic beverages were due by 13 December, but Treasury has given concerned parties until 14 February 2025 to comment.
South Africa’s liquor is broken into categories which are taxed at different rates based on their liquor content.
As per National Treasury’s report, the nation’s annual liquor consumption was estimated at 4.5 billion litres in 2022.
The latest figures show beer consumption was at an estimated 3.1 billion litres, with wine drinkers guzzling 453 million litres.
Spirits accounted for 153 million litres, while ready-to-drink products like premix brandy and cokes accounted for 697 million litres.
In the 10 years studied by Treasury, alcohol consumption grew by 12.1% from 2013 to 2022, with the premix products showing the largest growth in popularity with a 48.7% increase in consumption.
Local beer products accounted for the majority of brands consumed, with only 127.2 million litres of imported beers consumed.
Gin is the new queen of spirits, with almost 40 million litres consumed in 2022, overtaking whiskey which was the dominant liquor 10 years ago.
Sin tax, as the excise
...More info on site
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India: Medusa Beverages aims to double its volumes through capacity expansion in Punjab
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Medusa Beverages Pvt. Ltd, the company behind the Medusa beer brands, aims to double its volumes by FY26 through a capacity expansion planned in Punjab in the coming fiscal year, Qrius reported on December 4.
The company will look to raise ₹120 crore in FY26 through a combination of debt and equity issuance to set up the beer plant with an annual capacity of 4 lakh hectolitre, founder Avneet Singh, told Mint.
Medusa began operations in 2017 and has since launched three beer variants with alcohol by volume ranging from 4.5% to 5.9%. In 2023, it introduced its mild beer ‘Air’ and began operations in Uttarakhand, along with existing markets such as Delhi, Punjab, and Uttar Pradesh.
This month, the company will launch its first co-branded Warner Bros beer in India, House of the Dragon, targetting more premium beer drinkers in tier 1 cities. House of the Dragon is an American fantasy drama television series created by George RR Martin.
Also Read | Spirits up: Premium alcohol sales to grow up to 25% year-on-year in Q3
At present, the company works with other beverage manufacturers and uses their facilities to produce beer across the northern markets. A majority of the production
...More info on site
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Benelux & France: AB InBev announces new business unit president for France and Benelux
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Chris Vanbroekhoven will lead AB InBev in the Benelux and France from next year. The 40-year-old Belgian will replace Fabio Sala, who will lead AB InBev in China from January 2025. The Leuven-based brewer announced the news in a press release on December 4.
Vanbroekhoven has been with the brewing giant for 16 years, and previously served as general manager of AB InBev in the Netherlands for the past four years. The executive will "continue to drive strategic growth in key beer markets" in Belgium, the Netherlands, Luxembourg and France in the coming years.
Specifically, AB InBev wants to continue to grow brands such as Leffe, Jupiler, Tripel Karmeliet, Corona, Bud and Hertog Jan. Vanbroekhoven also wants to develop the non-alcoholic beer segment, which has seen strong market share growth in Belgium in recent years.
As business unit president, Vanbroekhoven will be responsible for approximately 3,600 employees, of which more than 2,800 are in Belgium. He will also oversee eight breweries, five of which are in Belgium (Leuven, Hoegaarden, Jupille, Buggenhout and Sint-Pieters-Leeuw), two in the Netherlands and one in Luxembourg.
The Belgian production sites have been hit by strikes in recent years, but the new boss is optimistic. "The biggest challenge is growth,
...More info on site
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UK: Guinness supplies being limited after demand soars
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The amount of Guinness British pubs can buy in the build up to Christmas has been limited by its maker Diageo after "exceptional demand" over the past three weeks, BBC reported on December 4.
It is understood the firm is working at 100% production capacity, but has still placed limits on orders in Great Britain.
The drink has been rising in popularity with women and young people, and recent rugby internationals have put a strain on supplies.
Diageo has been upping its marketing efforts and working with influencers over the past few years to try and raise Guinness' profile.
A Diageo spokesperson said: “Over the past month we have seen exceptional consumer demand for Guinness in Great Britain.
"We have maximised supply and we are working proactively with our customers to manage the distribution to trade as efficiently as possible."
Guinness sales have recently been bucking market trends, according to data from food and drinks industry research firm CGA.
While overall beer drinking was slightly down between July and October, the volume of Guinness consumed from kegs was up more than fifth.
Diageo has been pumping money into its St James's Gate brewery in Dublin, and also building a new brewery in County Kildare.
It has been focusing marketing
...More info on site
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