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E-Malt.com Newsletter 08a
February 17 - February 19, 2025
Quote of the Week
The only way to discover the limits of the possible is to go beyond them into the impossible.
Arthur C. Clarke
Currency Rates
Base Currency: US Dollar
on February 19, 2025 |
Base Currency: Canadian Dollar
on February 19, 2025 |
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1 USD = 0.9562 EUR
1 USD = 0.7932 GBP
1 USD = 1.4193 CAD
1 USD = 1.5743 AUD
1 USD = 151.8700 JPY
1 USD = 5.7026 BRL
1 USD = 91.4634 RUB
1 USD = 7.2684 CNY
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1 CAD = 0.7045 USD
1 CAD = 0.6736 GBP
1 CAD = 0.6736 EUR
1 CAD = 1.1090 AUD
1 CAD = 106.9860 JPY
1 CAD = 4.0172 BRL
1 CAD = 64.4318 RUB
1 CAD = 5.1203 CNY
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Currency Rates Chart
Equities of the Largest Breweries
USA, CA: Villains Brewing Company getting ready to open second location
...Click here
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USA, NY: Speckled Pig Brewing to open a distillery next door
...Click here
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USA, PA: Burghers Brewing Co. to open flagship location in Millvale
...Click here
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USA, SD: Big Lost Meadery & Brewery and Ranch & Roost officially open in Sioux Falls
...Click here
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USA, TX: Voodoo Brewing to open new brewpub in Lewisville
...Click here
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USA, TX: Pondaseta Brewery Co. one step closer to opening new location in Canyon
...Click here
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USA, GA: Red Hare Brewing quietly closes in Marietta
...Click here
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USA, OH: Humble Monk Brewing Co. to close its doors for good this year
...Click here
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Japan: Sapporo Holdings reports 2.3% increase in 2024 revenue
...Click here
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Nigeria: Nigerian Breweries records unprecedented revenue of N1.1 trillion in FY 2024
...Click here
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UK: Scotch whisky exports decline in value terms but increase in volume last year
...Click here
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Hungary: Five largest brewers report increase in sales in 2024
...Click here
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India: Carlsberg to invest Rs 350 crore in expanding its brewery in Mysuru
...Click here
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France: Wet weather may have damaged winter barley, wheat crops in France
...Click here
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Japan: Activist fund criticizes Sapporo after overseas ‘acquisition failures’
...Click here
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India: Craft beer maker Bira name change leads to Rs80 crore sales loss
...Click here
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Colombia: Bavaria Brewery recognized as one of the twelve most valuable brands in Colombia
...Click here
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South Africa: Beer Association of South Africa submits proposal for alcohol taxation system review
...Click here
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Graph of the Week
Table of the Week
Asia Barley Imports, Production, Consumption, and Stocks
Prices Evolution
Barley Prices
Theoretical Malt Prices
These Days in Business History
17 February
1878 - Silver dollar became U.S. legal tender
1986 - 1st Francophone Summit convenes at Versailles
1989 - Egypt, Iraq, Jordan and North Yemen form common market
18 February
1933 - 1st issue of Newsweek magazine published
1939 - Golden Gate International Exposition opens on Treasure Island
1981 - Chrysler Corporation reports largest corporate losses in U.S. history
19 February
1878 - Thomas Alva Edison patents gramophone (phonograph)
1899 - Cornelius Vanderbilt Whitney, Pan Am Airways (World airways) founder is born
1969 - 1st Test flight of Boeing 747 jumbo jet
Agenda
February 2025:
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 - 09: 15th International Trends in Brewing 'Beer & Society' 2025 (Leuven, Belgium)
06 - 08: Planete Biere 2025 (Paris, France)
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)
06 - 06: The Melbourne Royal Australian International Beer Awards 2025 (Melbourne, Australia)
08 - 11: Wiener Bierfest 2025 (Vienna, Austria)
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)
July 2025:
03 - 04: The CIBD Sustainability in Brewing Conference 2025 (Nottingham, UK)
18 - 19: London Craft Beer Festival 2025 (London, UK)
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:
04 - 06: Brussels Beer Challenge 2025 (Belgium)
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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USA, CA: Villains Brewing Company getting ready to open second location
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Anaheim’s Villains Brewing Company is getting ready to open a second location, and first in San Diego, after recently taking over a longtime brewery at 903 Island Avenue in San Diego’s East Village, What Now reported on February 14.
The company, owned and operated by Brad Kominek and Isaias Hernandez, is set to open its newest location in the home of Half Door Brewing Co. was established in 2015 by siblings Stacy and Dan Drayne, according to a liquor license application that was first reported by SanDiegoVille. It’s unclear exactly when Villains Brewing Company will open its doors, but when it does, customers can expect design touches and retool the menu to be similar to the Anaheim location.
“With my Dad trying to take more time away from The Field to enjoy life and me wanting to start a family, we have decided to sell the lease at 903 Island Ave,” Stacy Drayne tells SanDiegoVille. “Half Door will stay open until transfer for a liquor license.”
Villain Brewing Company debuted in 2023 when it opened in the former home of Modern Times’ Anaheim location. Once the company took over that location, it created a multi-concept space with a food hall, a speakeasy, and
...More info on site
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USA, NY: Speckled Pig Brewing to open a distillery next door
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The owners of Speckled Pig Brewing have a new project brewing next door — a distillery. Named The Still at Specked Pig, the distillery will be in the former Jim’s Garage space at 17 Washington Street, NEWS10 ABC reported on February 17.
Speckled Pig Brewing opened in September 2022 and is owned by five partners from two families: RJ Elliott, Randy Elliott and Kelly Delaney-Elliott, and Larry and Mary Jo Heid. They bought the Jim’s Garage building and recently got approval for the distillery from the village planning board.
They are in the process of renovating the building, including replacing the garage doors with large glass doors and creating a courtyard with fire pits, said RJ Elliott. They’ll be keeping the building structure, but are renovating to modernize.
“The goal is to create a one-stop location where you can go pub hopping in the village,” said Larry Heid. “We’re trying to make sure we revitalize Ballston Spa.”
At The Still at Specked Pig, they’ll be making their own vodka and whiskey, and serving up cocktails and small plates with elevated pub food. Speckled Pig Brewing, located at 11-13 Washington Street, brews its own beer and serves wood-fired pizza.
RJ Elliott said they are looking to
...More info on site
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USA, PA: Burghers Brewing Co. to open flagship location in Millvale
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After more than a year of work, Burghers Brewing Co. is poised to open next week what co-owner Neil Glausier calls a “stainless steel cathedral” as its flagship location in Millvale, TribLIVE.com.
The brewery, located at 400 Grant Ave., will take over as the primary brewing location for the local beer and burger chain. The newest Burghers follows locations in Zelienople, Pittsburgh’s South Side and one less than 2 miles away in Lawrenceville.
At 14,000 square feet, the new brewery will feature two floors with two bars, Glausier said. That is in addition to its public-facing brewing equipment and space for bar games such as pinball, he said. Since it sits in the location of a former bank, Glausier said some patrons can dine and drink in what used to be its vault.
But in the vault or not, customers who walk through its revolving door should expect the same food and beer as other Burghers locations, Glausier said.
“It’s an aesthetic and visual masterpiece,” Glausier said. “I’m ready to blow everybody away.”
But even getting it open is “massive,” according to Fiore Moletz, the brewery’s other owner.
The new space is what the two owners “have been working toward for years,” he said. In
...More info on site
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USA, SD: Big Lost Meadery & Brewery and Ranch & Roost officially open in Sioux Falls
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Big Lost Meadery & Brewery and Ranch & Roost, a Wyoming-based brewery and restaurant featuring a “cowboy/Viking aesthetic" opened on February 17, according to Owner Sam Clikeman, Argus Leader reported.
The meadery, which originated from Gillette, Wyo., wanted to expand and Sioux Falls was chosen as Big Lost’s second location in the U.S., beating out Dallas-Fort Worth, Texas; Nashville, Tenn.; and Tampa, Fla.
Big Lost Meadery, located at 2215 S. Lorraine Pl. by the Hyatt Place Hotel on Lake Lorraine, broke ground last April with Clikeman and representatives from Van Buskirk Companies (the businesses’ contractor), Sioux Falls Development Foundation, First Interstate Bank, Lawrence & Schiller and Sioux Falls City Council member Mark Zelberg.
“This community truly is incredible," Clikeman said during the groundbreaking ceremony. "The vibrance of the hospitality industry, the vision for the future and its voracious growth is pretty special. It’s part of what drew us here. But, ultimately, the people here made that key factor in our decision. While this city is growing, you guys are still a small community, and you act that way.”
Clikeman and his family recently moved to Sioux Falls to manage the new brewery and eatery.
Big Lost Meadery & Brewery offers five different types
...More info on site
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USA, TX: Voodoo Brewing to open new brewpub in Lewisville
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Voodoo Brewing Co., the high-energy, less than traditional brewpub franchise, has more growth on the horizon with its upcoming opening in the Castle Hills community of Lewisville, Texas. The new brewpub, located at 4400 State Hwy 121, will open in February 2025 under the ownership of husband-and-wife franchisees Fahad and Manal Keen, 1851 Franchise reported on February 17.
“This is just the next step in our growth plans,” said Matteo Rachocki, Chairman of the Voodoo Brewing Co. Board. “We are pumped to be growing in Lewisville, and we know the Keens will do a great job representing the brand and creating that community-first brewpub feel we all know and love.”
The Keens, both of whom have backgrounds in finance and data analytics, will be leading the brand’s expansion in Lewisville. When looking for a new business opportunity, they came across Voodoo Brewing Co. and were immediately intrigued by the brand’s unique “unfranchise franchise” culture.
“We didn’t want to move from one structured corporate environment to another; we wanted something that aligned with our passions,” Manal said. “[The founders of Voodoo] left corporate life to start something driven by passion. It felt relatable and inspiring. Restaurants, bars and pubs were never on our radar
...More info on site
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USA, TX: Pondaseta Brewery Co. one step closer to opening new location in Canyon
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When it comes to craft beer there is one place in Amarillo that has won the hearts of those in the Texas Panhandle. The original location opened its doors in 2018, ETSN.fm reported on February 18.
As the popularity of Pondaseta Brewery Co. grew people from all over fell in love with their beer. They decided to grow and branch out down the road from Amarillo. A beautiful historic building built and used for the railroad has now been transformed and the history saved.
Pondaseta Brewing Co. has been slowly transforming this historical building into a restaurant and new brewery in the heart of Canyon, Texas. Construction on this transformation began in April 2024. In addition to remodeling the depot, they had an entire building constructed to house their brewing equipment.
Pondaseta is one step closer to opening its new location. It's only a matter of time until the doors are open and the citizens of Canyon and Amarillo are filling the seats.
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USA, GA: Red Hare Brewing quietly closes in Marietta
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Marietta, Georgia-based Red Hare Brewing seems to have quietly closed sometime after the start of 2025, Beer Street Journal reported on February 15.
Red Hare Brewing was founded in 2011 on Delk Road in Marietta, Georgia. In 2018, it opened a second location in Shallotte, North Carolina. In 2020, Red Hare announced they would take over the Hemingway’s Bar and Grill building on Marietta Square over the coming months.
The North Carolina facility shuttered in 2022 after four years.
Just about a year ago, in March 2024, founder Bobby Thomas announced the brewery would close the original Delk Road location due to costs and inflation and move production to a smaller location in the future.
The Marietta Square location remained open through at least New Year’s Eve going into 2025.
It seems that the Marietta Square location has also closed without any announcement. Google has marked this location permanently closed. Social media and Reddit discussions mention that the location hasn’t opened in weeks now, and the brewery website has been taken down.
Emails to the owner kick back as undeliverable.
Since the Delk Road closure, no official announcement has been made about a permanent closure or a new production facility.
Currently, Red Hare Brewing has no open facilities.
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USA, OH: Humble Monk Brewing Co. to close its doors for good this year
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After moving to a new location almost a year ago, a fan-favorite Greater Cincinnati brewery will close its doors for good this year, Cincinnati.com reported on February 14.
In a Facebook post on February 13, Humble Monk Brewing Co., known for its Belgian-inspired brews, announced that it will permanently close its location in Northside at some point this year.
"We are blessed that our humble brewery left the Cincinnati community missing us as well as left our customers and ourselves with wonderful memories and creating friendships," co-owners Mike and Alicia Kemp said in the post. "We will shut down the Belgian-forward brewery in 2025 and cherish the memories of creating great tasting craft brews."
The post, however, did not specify an exact date for the closure.
The brewery first opened in 2019 and was originally located at 1641 Blue Rock St. It was then forced to move to a new location just down the street at 4100 Colerain Ave. "due to a commercial real estate developer out-pricing us on our building," the post reads.
With the help of the community, the owners were able to rebuild the brewery at the new location and were awaiting for the State of Ohio to approve brewery and liquor
...More info on site
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Japan: Sapporo Holdings reports 2.3% increase in 2024 revenue
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Sapporo Holdings has reported its consolidated financial results for the year ending December 31, 2024, showing a slight increase in revenue by 2.3% to
...More info on site
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Nigeria: Nigerian Breweries records unprecedented revenue of N1.1 trillion in FY 2024
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Nigerian Breweries Plc has released its audited Group Financial Statements for the financial year 2024, recording an unprecedented and impressive revenue of N1.1 trillion,
...More info on site
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UK: Scotch whisky exports decline in value terms but increase in volume last year
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Global exports of Scotch whisky declined in value terms but increased in volume terms in 2024, new figures from the Scotch Whisky Association (SWA)
...More info on site
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Hungary: Five largest brewers report increase in sales in 2024
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After a 10% decline in 2023, reminiscent of the COVID-19 pandemic period, domestic sales of Hungary’s five largest breweries grew by 2.8% in 2024,
...More info on site
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India: Carlsberg to invest Rs 350 crore in expanding its brewery in Mysuru
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Alcobev player Carlsberg India announced its plans to invest about Rs 350 crore in expanding its brewery in Mysuru, Karnataka, Business Standard reported on
...More info on site
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France: Wet weather may have damaged winter barley, wheat crops in France
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The state of soft wheat in the largest European Union producer France are close to last year’s four-year low, data from farm office FranceAgriMer showed on February 14, confirming concerns that wet winter weather may have damaged crops, Business Recorder reported on February 16.
First ratings on the condition of cereals in France after a winter pause showed that 73% of soft wheat was in good or excellent condition by February 10, slightly above a four-year low of 68% a year ago. By the same stage in 2023, 93% of soft wheat was rated good or excellent.
French crops have been hurt by heavy rain that has delayed plantings and hampered early growth, raising concern about a repeat of last year’s rain-hit harvest that was the smallest since the 1980s.
In its latest forecasts France’s farm ministry confirmed on February 4 a rebound from last year’s rain-hit planting but warned that soggy conditions could also hurt the 2025 crop. Last year’s poor harvest is expected to bring a fall of about 30% in French wheat exports this season.
FranceAgriMer also said it rated 68% of winter barley in good or excellent condition, down from 71% in the same week of 2024. That was the
...More info on site
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Japan: Activist fund criticizes Sapporo after overseas ‘acquisition failures’
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3D Investment Partners has criticised Sapporo Holdings Ltd over its execution of overseas acquisitions, expressing concerns about the risk that the Japanese brewer may continue to “misallocate capital” leading to further “destruction of corporate value”, The Edge reported on February 18.
The Singapore-based investment fund censured the management over “impairment losses on all of its overseas alcoholic beverage acquisitions”, and questioned the responsibility of the board of directors, in a letter seen by Bloomberg.
The letter on February 18 was sent to Sapporo’s board of directors and specifically railed against the 13.9 billion (US$92 million or RM407.16 million) impairment loss that Sapporo booked in January 2025 for Stone Brewing, a US craft brewer that it acquired in 2022. The letter said the company had acquired the US brewer at a price-to-book ratio of 3.4 times, despite Stone Brewing’s declining sales and unprofitable operations.
On February 17, Sapporo announced that the board had voted against appointing former Toshiba Corp outside director Paul Brough, whose name 3D had proposed.
According to data compiled by Bloomberg, 3D is the largest shareholder, owning more than 19% of Sapporo shares.
Sapporo said last week it continues to explore “large-scale” merger and acquisition (M&A) deals to grow its alcoholic beverage business
...More info on site
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India: Craft beer maker Bira name change leads to Rs80 crore sales loss
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B9 Beverages Ltd, the parent company of popular craft beer brand Bira 91, has faced a significant financial setback due to a seemingly simple yet costly name change. As part of its preparations for a 2026 public listing, the company transitioned from B9 Beverages Private Ltd to B9 Beverages Ltd, triggering an extensive re-registration process that halted sales for months. This disruption led to an Rs 80 crore inventory write-off and contributed to a 68 per cent surge in losses for FY24, according to a report by The Economic Times.
The New Delhi-based company’s net loss widened to Rs 748 crore for the fiscal year ending March 2024, surpassing its total revenue of Rs 638 crore, which marked a 22 per cent decline from the previous financial year. The company attributed this loss to both the one-time inventory write-off and evolving state policies that impacted its key markets.
B9 Beverages founder Ankur Jain explained that the mandatory re-registration of product labels and state approvals took 4-6 months, rendering the brand unavailable in key regions despite ongoing demand.
“Due to the name change, there was a 4-6 month cycle where we had to re-register labels and re-apply across states, which resulted in literally no
...More info on site
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Colombia: Bavaria Brewery recognized as one of the twelve most valuable brands in Colombia
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In the 2024 edition of “The Most Valuable Colombian Brands” study, Bavaria Brewery was recognized as one of the twelve most valuable brands in the country due to its significant economic impact on the national market.
With more than a century of history, Bavaria has cemented its place in Colombian culture, representing innovation, quality, and a unique value proposition in the beer industry.
According to an analysis by the firm Brandvalorum, Bavaria’s flagship brands, Águila and Poker, have been consolidated as Colombia’s most valuable, each worth over $500 million. Meanwhile, Águila Light and Pony Malta, valued between $100 million and $500 million, reflect the growth of the low-alcohol and malt beverage segments.
Álvaro de Luna, Vice President of Marketing at Bavaria, stated: “We are proud to be leaders with brands that are loved by Colombians, that have accompanied them in their best moments and that are connected to the history and progress of our country.”
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South Africa: Beer Association of South Africa submits proposal for alcohol taxation system review
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The Beer Association of South Africa (Basa) has submitted its proposal for the National Treasury’s review of the alcohol taxation system, The Citizen reported on February 18.
Treasury said excise duties on alcoholic beverages have been increasing above inflation whilst the weighted average retail prices of specific categories of alcoholic beverages have been below inflation.
Therefore, it was viewed that the current framework may no longer be fit for purpose. Policymakers are considering either increasing the guideline tax incidence for all the alcohol categories or having a completely new and different framework.
Charlene Louw, CEO of Basa said they appreciate Treasury’s recognition that South Africa’s excise tax policy requires restructuring.
The first principle is economic growth and stability. “Any changes must support job creation and economic recovery while mitigating the expansion of the illicit alcohol trade.”
The beer association emphasises that balanced taxation should exist, as excise duties have significant economic consequences, including reduced production, employment losses and misallocated resources.
“A structured and transparent system will help minimise these negative effects.”
Another principle highlighted in the association’s submission is to encourage responsible consumption.
“Excise duties already contribute to reducing harmful drinking by influencing affordability. Increasing these duties further is unnecessary and could harm the legal market.”
Treasury needs to
...More info on site
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