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E-Malt.com Newsletter 04a
January 20 - January 22, 2025
Quote of the Week
Beer is an improvement on water itself.
Grant Johnson
Currency Rates
Base Currency: US Dollar
on January 22, 2025 |
Base Currency: Canadian Dollar
on January 22, 2025 |
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1 USD = 0.9623 EUR
1 USD = 0.8133 GBP
1 USD = 1.4392 CAD
1 USD = 1.6000 AUD
1 USD = 155.5160 JPY
1 USD = 6.0309 BRL
1 USD = 100.1300 RUB
1 USD = 7.3196 CNY
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1 CAD = 0.6947 USD
1 CAD = 0.5650 GBP
1 CAD = 0.6686 EUR
1 CAD = 1.1116 AUD
1 CAD = 108.0430 JPY
1 CAD = 4.1899 BRL
1 CAD = 69.5642 RUB
1 CAD = 5.0852 CNY
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Currency Rates Chart
Equities of the Largest Breweries
Canada: Barley plantings forecast to increase by 5% this year
...Click here
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USA: TTB proposes sweeping new regulations on alcohol beverages
...Click here
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Europe & USA: Suntory stockpiles whiskey in Europe due to possible Trump tariffs
...Click here
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USA: Jack Daniel’s maker Brown-Forman slashing 12% of its workforce as consumption drops
...Click here
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USA, WV: Big Timber Brewing looking to open new location in Tucker County
...Click here
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USA, NJ: Bucket Brigade Brewery to close on January 26, Obscura Brewing Company to take its place in March
...Click here
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USA, MA: Mayflower Brewing Co. saved from planned closure by deal with distribution company
...Click here
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Canada, BC: Bricklayer Brewing closing permanently after four years in business
...Click here
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Germany: Alcoholic beer consumption continued to decline in 2024
...Click here
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Vietnam: Carlsberg seeks permission to raise capacity of its Hue brewery
...Click here
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UK: Increased disposable income allows consumers spend more on alcohol
...Click here
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UK: Craft beer market might be coming to terms with itself after initial boom
...Click here
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Singapore: ThaiBev’s BeerCo IPO could take place in Q3 2025
...Click here
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UK: Scotch whisky industry warns of stalled growth following record tax hike
...Click here
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India: AB InBev plans $250 mln investment in India’s beverage market, Union Minister for Food Processing Industries says
...Click here
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South Korea: Craft beer market expands following eased regulations
...Click here
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Argentina: Barley harvest approximately 90% complete, forecast remains at 5 mln tonnes
...Click here
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Vietnam: Saigon Tay Do Beer sees revenue increase in Q4 2024 but full year after tax profit drops
...Click here
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Australia: Barley exports total 838,715 tonnes of barley in November
...Click here
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India: United Breweries resumes supplies to Telangana
...Click here
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Graph of the Week
Table of the Week
Australia Barley Supply and Disposition
Prices Evolution
Barley Prices
Theoretical Malt Prices
These Days in Business History
20 January
1781 - 1st edition of Pieter It Hoens "Post of Neder-Rhijn" published
1872 - Californian Stock Exchange Board organized
1995 - Russian ruble drops to 3,947 per dollar (record)
21 January
1846 - 1st edition of Charles Dickens' "Daily News"
1976 - Supersonic Concorde, 1st commercial flights, by Britain and France
1994 - Dow Jones passes 3900 (record 3,914.20)
22 January
1967 - The microwave oven is invented
1970 - 1st commercial Boeing 747 flight, New York to London in 6 hours
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)
24 - 24: Beer Experience 2025 (Antwerp, Belgium)
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)
21 - 23: St Malo Craft Beer Expo 2025 (St Malo, France)
25 - 27: Expo Antad & Alimentaria Mexico 2025 (Expo Guadalajara, Jalisco, Mexico)
25 - 27: 109th International Brewing & Engineering Congress 2025 (Kulmbach, Germany)
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)
11 - 13: Barcelona Beer Festival 2025 (Barcelona, Spain)
15 - 17: Craft Beer China 2025 (Shanghai, China)
28 - 01 May: Craft Brewers Conference & BrewExpo America 2025 (Indianapolis, USA)
28 - 30: 27th Annual International Beer Strategies 2025 (Prague, the Czech Republic)
May 2025:
01 - 01: World Beer Cup 2025 (Indiana Convention Center, Indianapolis, IN, USA)
12 - 13: European Malt Supply Summit 2025 (https://rmi-analytics.com/event/european-regional-summit-paris-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)
18 - 20: EBC Symposium 2025 (Budapest, Hungary)
26 - 01 June: Budapest Beer Week 2025 (Budapest, Hungary)
June 2025:
10 - 11: IGC Grains Conference 2025 (116 Pall Mall, London, UK)
13 - 14: Tallinn Craft Beer Weekend 2025 (Tallinn, Estonia)
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)
13 - 15: Brewing Summit 2025 (Palm Desert, CA, USA)
22 - 23: Beervana 2025 (Wellington, New Zealand)
September 2025:
04 - 06: Stockholm Beer & Whisky Festival 2025 (Stockholm, Sweden)
13 - 14: Bruges Beer Festival 2025 (Bruges, Belgium)
15 - 19: Drinktec 2025 (Munich, Germany)
20 - 05 October: Oktoberfest 2025 (Munich, Germany)
27 - 29: Whisky Live Paris 2025 (Paris, France)
October 2025:
09 - 11: The Great American Beer Festival 2025 (Denver, USA)
16 - 17: Brew Asia 2025 (Bangkok, Thailand)
November 2025:
10 - 12: 15th Iberoamerican VLB Symposium Brewing & Filling Technology (Parana, Brasil)
13 - 15: Drink Technology India 2025 (Bombay Exhibition Centre, Mumbai, India)
December 2025:
03 - 05: Drink Japan 2025 (Makuhari Messe, Japan)
News Articles
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Canada: Barley plantings forecast to increase by 5% this year
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Canadian farmers will plant more wheat and coarse grains in 2025 at the expense of oilseeds, according to the first supply/demand projections for the
...More info on site
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USA: TTB proposes sweeping new regulations on alcohol beverages
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On Friday, January 17, 2025, the United States’ federal Alcohol and Tobacco Tax and Trade Bureau (TTB) published two important Notices of Proposed Rulemaking (NPRMs) proposing changes for the labeling of alcohol beverages, including beer and “malt beverages”—the Federal Alcohol Labeling Act term for beer under the TTB’s regulatory authority. The Brewers Association anticipated both rulemakings and submitted written comments and provided testimony on the subjects covered by them last year, Brewers Association reported.
The two NPRMs, if they become law, would make substantial changes to the labeling of products regulated by the TTB. While Brewers Association staff continues to analyze the draft regulations, what follows summarizes the broad outlines of what the TTB has proposed.
One NPRM addresses what it calls “alcohol facts” statements on alcohol beverage labels, and it would mandated nutrient disclosures on most beers (those that qualify as “malt beverages”) and mandate alcohol content statements, covered in the next section, for all beer.
Under the proposal, alcohol beverages regulated under the TTB’s Federal Alcohol Administration Act (“FAA Act”) authority would have to bear an alcohol facts statement. That statement would disclose:
• Serving size
• Number of servings per container
• Alcohol content
• Number of ounces of pure alcohol per serving
• Calories per serving
• Number of grams per
...More info on site
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Europe & USA: Suntory stockpiles whiskey in Europe due to possible Trump tariffs
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Suntory Holdings is doubling down on whiskey with Trump tariffs looming, Yahoo Finance reported on January 21.
"So we've been stockpiling the products in Europe, but it's not enough. How long would it last? I think at least a year," Suntory Holdings CEO Tak Niinami told Yahoo Finance at the World Economic Forum in Davos, Switzerland, about actions his team has taken to blunt potential tariff impacts.
By piling up the booze, Suntory is attempting to lock in its costs should they skyrocket amid fresh tariffs from the Trump administration. In addition to Japanese whiskey, the company owns bourbon brands like Jim Beam, Maker's Mark, and Basil Hayden.
The threat of a trade war hammering the liquor industry is real, and a near-term dark cloud hangs over the space.
In 2018, the European Union slapped a 25% tariff on American whiskey as a retaliatory measure to Trump's tariffs on European steel and aluminum. American whiskey exports to the EU plunged 20% through 2021.
The Trump administration responded by putting a 25% import tariff on single malt scotch whiskey.
After initially leaving the tariffs in place, the Biden administration reversed course and signed an agreement with the EU that suspended the tariffs in December 2023.
The suspension is
...More info on site
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USA: Jack Daniel’s maker Brown-Forman slashing 12% of its workforce as consumption drops
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Jack Daniel’s maker Brown-Forman is slashing 12% of its workforce as more consumers cut back on their alcohol consumption, the company said on January 7.
Louisville, Ky.-based Brown-Forman – a 155 year-old company which also makes Woodford Reserve, Old Forester and other spirits – is closing its barrel making operation by April 25.
The so-called Cooperage business employs 210 hourly and salaried employees, according to the company. Brown-Forman will now purchase its barrels from an outside supplier, the company said.
In all, the company said it is cutting 648 employees after the teetotaler trend caused the first drop in whisky sales – down 1.2% in 2023 – since 2002, according to a Wall Street Journal report.
“Today’s announcement will ensure we have the structure and teams in place…while also making investments that we believe will facilitate growth for generations to come,” Brown Forman CEO Lawson Whiting said in a statement.
The layoffs are part of a restructuring, which elevated four key executives expanding their roles, including promoting Michael Masick to president of the Americas.
Masick had previously headed up the Mexico, South and Central America and Caribbean operations and now oversees the USA and Canada.
Brown-Forman’s shares ticked up less than 1%, to $35, on the
...More info on site
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USA, WV: Big Timber Brewing looking to open new location in Tucker County
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Big Timber Brewing, West Virginia’s biggest craft brewer, is looking to open a new location in Tucker County, one of the state’s main hubs for outdoor recreation, WBOY.com reported on January 17.
Although details of the new location are limited at this time, Big Timber’s president and head brewer Matt Kwasniewski told 12 News that the brewery is expanding to the town of Davis on the outskirts of the Monongahela National Forest. The town is close to some of the state’s most famous tourism destinations, including Blackwater Falls State Park and Canaan Valley.
Kwasniewski said they are aiming for a Spring 2025 opening date.
Big Timber’s expansion comes only two years after it opened a new taproom in Elkins connected to its brewhouse, ironically located at 2 Davis Ave.
Big Timber will be joining two other breweries already established in the area: Stumptown Ales in Davis, and Mountain State Brewing Co. in Thomas, which has a number of other locations throughout West Virginia.
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USA, NJ: Bucket Brigade Brewery to close on January 26, Obscura Brewing Company to take its place in March
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After seven-plus years as a staple of the Cape May County Craft Beer Community, Bucket Brigade Brewery has announced they are closing their doors on Sunday, January 26th, 97.3 ESPN reported on January 20.
The firehouse-themed craft brewery with a patriotic theme was first opened by Karl and Kurt Hughes in 2017. But over the last two years, Karl's son took over the job as Head Brewer and has earned 15 awards with his brewing innovations.
According to the announcement on their social media platforms, Karlson Hughes will be opening a new brewery in place of where Bucket Brigade Brewery currently stands on Route Nine South in Cape May Court House.
The plan is for the new Obscura Brewing Company to have a soft opening on Thursday, March 6th.
Karlson has done a great job new brews at Bucket Brigade Brewery and South Jersey Craft Beer Fans are looking forward to the grand opening of Obscura Brewing Company this spring.
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USA, MA: Mayflower Brewing Co. saved from planned closure by deal with distribution company
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Mayflower Brewing Co., one of Massachusetts’ largest breweries and among the oldest of today's craft brewers, has been saved from a planned closure thanks to a deal with a distribution company, Boston Business Journal reported on January 18.
Mayflower Brewing said Friday it has an agreement with Sheehan Family Cos., which traces its history back to 1898, to "continue to brew beer and thrive for years to come."
Sheehan Family Cos., based a town away in Kingston, includes a series of distributors in Massachusetts, New York, Virginia and Wisconsin. The company didn't immediately return a message seeking comment.
Mayflower Brewing landed 16th in the state last year in beer production, with its numbers declining in recent years.
The near-closure of Plymouth-based Mayflower comes as the craft brewing industry, both in Massachusetts and nationally, faces new challenges in a maturing market. Beer consumption is down, consumers are turning to canned cocktails and other beverages, and high prices have squeezed profits.
For Mayflower in particular, increased competition may have also played a role in its predicament.
Mayflower opened in 2007, before craft brewing exploded as an industry. It used to have the town of Plymouth by itself but more recently has had to share it with, among others,
...More info on site
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Canada, BC: Bricklayer Brewing closing permanently after four years in business
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After four years in downtown Chilliwack, Bricklayer Brewing is closing permanently, Vancouver Is Awesome reported on January 21.
Founded by Kris Schmidt in 2020, Bricklayer has been a part of the trendy District 1881 in the heart of Chilliwack for more than four years, but on Jan. 17, 2025, operators announced that it was coming to an end.
Citing increased costs, the brewery is closing on Jan. 31.
"Due to the increased cost of basically everything around us and a heavy decline in the industry, Bricklayer Brewing has had to make the extremely difficult decision to close its doors at the end of this month," reads a post on Facebook.
Ownership goes on to say it was a difficult decision to pull the plug.
"I am heartbroken to have to shut down a dream. But, unfortunately, it has to happen," reads the post.
Many have responded on social media with disappointment, including other breweries.
"I am so sorry to hear this. It is so hard out there right now for small businesses," reads a comment on Instagram from Locality Brewing.
"You created something special over there, we’re so sad it has to end. Wishing you all the best," reads another from Sidekick Brewing.
"Going to miss seeing you at
...More info on site
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Germany: Alcoholic beer consumption continued to decline in 2024
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Consumption of alcoholic beer in Germany continued to decline in 2024, part of a steady long-term drop in drinking for a country long famed
...More info on site
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Vietnam: Carlsberg seeks permission to raise capacity of its Hue brewery
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Carlsberg is seeking permission to raise the capacity of its Hue factory in central Vietnam from 360 million to 600 million litres, or up 67%, The Investor reported on January 22.
The factory, located in Hue city, was enlarged to 360 million litres a year in 2018. It now features two production lines for bottles, two for cans, and one for kegs.
For the changes, the Danish brewer aims to replace one canned beer line of 48,000 per hour with one of 120,000 cans per hour.
Carlsberg plans to complete the expansion in the first quarter of this year.
The higher production aims to serve the Vietnamese and export markets. The portion for export will grow gradually per the stability of the factory, Carlsberg said in a recent project report.
Per the move, Carlsberg’s total investment in the factory in Hue city will go up to $168.7 million.
The output of Carlsberg’s Hue factory was 339.9 million litres in 2023, 407.7 million litres in 2024. It targets to raise the figure to 487.1 million litres in 2025. Major products are Blanc, Carlsberg Pilsner, Halida, Huda, Somerby, Tuborg, PSBC, and NRGB.
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UK: Increased disposable income allows consumers spend more on alcohol
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Consumers in the UK are increasingly interested in premium and craft spirits, as well as low-alcohol and alcohol-free options, Grocery Trader reported on January
...More info on site
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UK: Craft beer market might be coming to terms with itself after initial boom
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'Craft beer is dead,' 'RIP IPA,' 'are we witnessing the death of craft beer?' These are just some of the headlines doing the rounds
...More info on site
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Singapore: ThaiBev’s BeerCo IPO could take place in Q3 2025
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Could Thai Beverage ’s much-anticipated Singapore initial public offering (IPO) for BeerCo materialise this year?
In a presentation deck posted on Jan 20, ThaiBev revealed
...More info on site
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UK: Scotch whisky industry warns of stalled growth following record tax hike
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Following a record tax hike on Scotch whisky costing the UK Treasury £500K per day, the industry warns of stalled growth in the sector,
...More info on site
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India: AB InBev plans $250 mln investment in India’s beverage market, Union Minister for Food Processing Industries says
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Union Minister for Food Processing Industries, Chirag Paswan, announced that the Belgian beer brewer AB InBev has planned to invest $250 million in India's
...More info on site
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South Korea: Craft beer market expands following eased regulations
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South Korea’s domestic craft beer market has become larger and more diverse following the government's efforts to ease regulations, in a move aimed at enhancing market competitiveness for the country's small and medium-sized enterprise (SME) breweries, according to the Fair Trade Commission (FTC), January 21.
The measures have boosted fair competition between SMEs and larger breweries, leading to the companies introducing more products and reducing retail prices. The FTC compared the outcome favorably to the domestic market in 2016 when it found conditions that restricted the SMEs from competing in the market.
According to the state-run antitrust agency, the government in 2018 increased the maximum vat size limit for SME breweries to 120 kiloliters from 75 kiloliters. The year also saw the FTC allowing the breweries to sell their products at convenience stores and major retail store chains.
The following year saw the government expand legal distributive means for the breweries so that the companies could have more options for their wholesale and retail distribution.
In 2020, the government switched the taxation system for the breweries from the assessed value tax (ad valorem tax) to per unit tax which is based on a fixed amount per product. It reduced taxes levied on the companies,
...More info on site
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Argentina: Barley harvest approximately 90% complete, forecast remains at 5 mln tonnes
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Argentina’s barley harvest has advanced to approximately 90% complete, and managed through persistent rain over the past month, RMI Analytics said in their latest
...More info on site
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Vietnam: Saigon Tay Do Beer sees revenue increase in Q4 2024 but full year after tax profit drops
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Saigon Tay Do Beer - Beverage Joint Stock Company (STD) has announced its fourth quarter 2024 results, Vietnam.vn reported on January 18.
According to the report, STD's revenue in the last quarter of the year was quite positive, reaching VND204 billion, up 20% over the same period. This result brought the total revenue for the whole year to VND632 billion, up 4% compared to 2023.
In the fourth quarter, STD significantly saved on sales costs and interest expenses, resulting in net profit of nearly VND 4 billion, an increase of 3,2% over the same period in 72.
However, for the whole year of 2024, the after-tax profit of this beer company was only nearly 4.6 billion VND, down nearly 62%.
The main reason is the increase in cost of goods sold and trade discounts. In addition, some other costs also increased, causing this beer and alcohol company to increase sales but not "recover" profits.
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Australia: Barley exports total 838,715 tonnes of barley in November
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Australia exported 838,715 tonnes of barley and 34,417t of sorghum in November, according to the latest data from the Australian Bureau of Statistics, Grain Central reported on January 20.
Feed barley exports for November totalled 602,449t, up from 86,405t in October, to reflect new-crop availability from the Australian harvest.
China on 554,223t was the biggest market by far for November-shipped feed barley, with Peru on 21,299t and Japan on 7700t the second and third-biggest markets respectively.
China was also the biggest market for malting exports, taking 195,606t of the 236,266t shipped, up from 34,216t exported in total in October.
Vietnam on 34,709t was the second-biggest malting barley market for November, followed by Singapore on 3683t.
China was also the biggest destination by far for sorghum, taking 28,733t of the 34,417t shipped, followed by Taiwan on 4264t and The Philippines on 1356t.
Barley exports rebounded strongly for November, as suggested by booked business and shipping line ups, which has confirmed what markets have been indicating for some time.
“The market here was record tight for carryout stocks and just waiting for the Aussie new-crop tonnage to become available to ship, with Chinese imports continuing very strongly from all origins in the background,” Flexi Grain pool manager Sam Roache
...More info on site
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India: United Breweries resumes supplies to Telangana
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United Breweries Limited (UBL) has resumed supplies to Telangana Beverages Corporation Ltd (TGBCL) with immediate effect, The Drinks Business reported on January 20.
The move, which follows it having made a decision to halt sales less than a fortnight ago after seeing operating losses in India’s Telangana state, is an about-turn for the Heineken-owned business which is well known for its Kingfisher beer brand.
Addressing the reason for its decision in an exchange filing, a spokesperson for UBL said: “We have decided to restart our supplies… for the time being. This is an interim decision in the interest of consumers, workers and stakeholders,”
Stopping sales, which began on 8 January, had a knock on effect and led to dramatic fluctuations in the company’s shares, which have since leapt up again since the ban has been lifted, despite shares still being down about 3% since the supply suspension news broke.
As things stand, alcohol is bought by the state government and then supplied to shops in Telangana, where officials had looked at ways of rationing products to tackle shortages.
For instance, local reports outlined the knock on effect and identified how the city of Hyderabad was due to run out of beer if the ongoing issues
...More info on site
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Argentina: Alcohol-free beer sales double in 2024
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While overall alcoholic beverage sales in Argentina have declined by 18.6% in the first nine months of 2024 — nearly double the average contraction of general consumption at 11.9% — the alcohol-free beer segment is bucking the trend, FreshlyBottled.com reported on January 13.
According to data from consultancy firm Scentia, alcohol-free beer sales have doubled in the past year, now accounting for 1% of total beer sales in the country. This growth is attributed to product innovation by both major breweries and craft producers, as well as a shift in consumer preferences toward alcohol-free options.
Despite its small market share, the rise of 0.0% beer stands in stark contrast to the broader market, where reduced purchasing power has led to significant drops in consumption. The alcoholic beverage sector has been hit particularly hard, experiencing the steepest declines as consumers cut back on spending.
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