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E-Malt.com Newsletter 09a
February 24 - February 26, 2025
Quote of the Week
Tell me and I forget. Teach me and I remember. Involve me and I learn.
Benjamin Franklin
Currency Rates
Base Currency: US Dollar
on February 26, 2025 |
Base Currency: Canadian Dollar
on February 26, 2025 |
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1 USD = 0.9533 EUR
1 USD = 0.7907 GBP
1 USD = 1.4273 CAD
1 USD = 1.5765 AUD
1 USD = 149.4430 JPY
1 USD = 5.7746 BRL
1 USD = 86.9094 RUB
1 USD = 7.2511 CNY
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1 CAD = 0.7005 USD
1 CAD = 0.5539 GBP
1 CAD = 0.6678 EUR
1 CAD = 1.1044 AUD
1 CAD = 104.6880 JPY
1 CAD = 4.0452 BRL
1 CAD = 60.8819 RUB
1 CAD = 5.0795 CNY
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Currency Rates Chart
Equities of the Largest Breweries
USA, TX: Outfit Brewing to close after six years in business
...Click here
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Canada: Barley crop forecast for 2025 remains at 8.8 mln tonnes
...Click here
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USA: Significant drop in hop production, acreage, value in 2024
...Click here
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USA: Boston Beer reports Q4 and full year 2024 results
...Click here
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USA, VT: Lost Marble Brewing Company breaks ground on new brewery in Manchester
...Click here
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Canada, ON: Ontario’s liquor agency to increase beer fee
...Click here
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USA, NJ: Obscura Brewing Company about to open in Cape May Court House
...Click here
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USA, OR: New Von Ebert Brewing flagship location to open its doors on March 1st
...Click here
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USA, OH: Walking Distance Brewing Co. to close permanently at the end of the week
...Click here
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World: AB InBev posts better-than-expected Q4 2024 sales despite annual decline in volumes
...Click here
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China: Demand for beer in China is on the rise, report says
...Click here
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Brazil: Ambev’s Q4 adjusted net profit up 7.5% despite decline in total volumes
...Click here
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Australia: Barley crop estimate slightly down as high yields in Western Australia and New South Wales are unlikely to repeat
...Click here
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New Zealand: Volume of beer available for consumption up 5.4% in 2024
...Click here
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France: Only 22% of planned spring barley area sowed as of February 17
...Click here
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The Netherlands: Heineken reports transactions under its current share buyback programme
...Click here
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China: Budweiser APAC names new chief in efforts to navigate weak Chinese market
...Click here
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World: Asahi Group Holdings announces new CEO for Asahi Europe & International
...Click here
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Australia: Asahi sees canned beer outselling its bottled options
...Click here
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South Korea: Asahi beer prices in South Korea to rise by up to 20% next month
...Click here
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Graph of the Week
Table of the Week
World Use of Hops and Hop Products 1997 - 2024s
Prices Evolution
Barley Prices
Theoretical Malt Prices
These Days in Business History
24 February
1921 - 1st transcontinental flight in 24 hours flying time
1986 - Texas Air buys Eastern Airlines for $676 million
1995 - Dow-Jones hits record 4011.74
25 February
1791 - 1st Bank of U.S. chartered
1837 - 1st U.S. electric printing press patented by Thomas Davenport
1862 - Paper currency introduced in U.S. by President Abraham Lincoln
26 February
1848 - 2nd French Republic proclaimed
1907 - Royal Oil and Shell merge to form British Petroleum (BP)
1993 - World Trade Center bombing
1995 - Barings Bank, one of the oldest and most distinguished investment banks in the world, declares bankruptcy
Agenda
February 2025:
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, TX: Outfit Brewing to close after six years in business
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In what can only be described as a major loss for Dallas' craft beer world, Outfit Brewing, a brewery in northwest Dallas, is closing after six years, CultureMap Dallas reported on February 26.
According to operating partner Zachary Flagg, they'll go out the way they came in: with a good-humored attitude, tasty BBQ, and a great lineup of beers, at a closing party on March 1 with a take-home-the-pint-glass plus DJ, BBQ from Meat Papi, and $2 beers.
Located at 7135 John W. Carpenter Fwy., Outfit Brewery opened in August 2018, founded by Jordan Young, who grew up brewing as a hobby, partnered with his stepbrother and head brewer Michael Frazer.
They offered six brews on tap and in cans, including a lager, IPA, brown ale, and milk stout. Some of the beers, such as Gene, were named after people who were related to Young or else left an impact. Flagg, who had a hospitality background, joined the team as an operating partner in 2020.
They managed to perservere through the pandemic, but Flagg says they experienced a big dropoff more recently in private events, one they could not survive.
"Since 2020, all breweries have faced similar challenges of rising cost of goods, insurance, rent,
...More info on site
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Canada: Barley crop forecast for 2025 remains at 8.8 mln tonnes
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Canada’s barley crop’25 forecast remains at 8.8 mln tonnes, with moisture conditions improving. Rain during June/July is critical but a positive crop’25 start is
...More info on site
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USA: Significant drop in hop production, acreage, value in 2024
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The USDA-NASS report, released in December 2024, reveals a significant drop in hop production across the United States. Here’s an overview of the key
...More info on site
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USA: Boston Beer reports Q4 and full year 2024 results
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The Boston Beer Company, Inc. on February 25 reported financial results for the fourth quarter ended December 28, 2024. Key results were:
Fourth Quarter 2024 Summary:
• Depletions were flat and shipments decreased 0.5%
• Net revenue increased 2.2% to $402.3 million
• Gross margin of 39.9% up 230 basis points year over year
• GAAP diluted loss per share of $3.38, which includes a previously announced contract settlement expense of $1.70 per share
• Non-GAAP diluted loss per share of $1.68
Full Year 2024 Summary:
Depletions decreased 2% and shipments decreased 2.4%
Net revenue increased 0.2% to $2.01 billion
Gross margin of 44.4% up 200 basis points year over year
GAAP diluted earnings per share of $5.06, which includes a non-cash brand impairment charge and contract settlement expense together totaling $4.37 per share
Non-GAAP diluted earnings per share of $9.43, or 31.5% growth year over year
Capital Structure
• Generated $249 million in operating cash flow for the full year 2024
• Ended the year with $212 million in cash and no debt
• Repurchased $239 million in shares in 2024 and $29 million in 2025 through February 21, 2025
“We were pleased to deliver improved operational and financial performance in 2024,” said Chairman and Founder Jim Koch. “I’m confident we have the right strategy and team in place and we will be stepping
...More info on site
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USA, VT: Lost Marble Brewing Company breaks ground on new brewery in Manchester
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A local partnership has broken ground on a new brewery and taproom on Rt. 7A in Manchester, adjacent to the Hampton Inn & Suites hotel. The Lost Marble Brewing Company will serve as a new destination for local residents and visitors, providing a convenient and fun place to gather for freshly brewed beer and a locally inspired family-friendly menu, Vermont Business Magazine reported on February 24.
Opening Fall 2025, the 9,725 square foot facility will include a 2,500 sq ft brewing room, housing a state of-the-art 10-barrel brewing system, as well as a commercial kitchen and pizza oven. Guests can enjoy freshly brewed beer in the 3,500 sq ft taproom, spacious south patio and outdoor bar, and north terrace and lawn. A private mezzanine space overlooking the brewing room will also be available.
Understanding that Vermont is known for its award-winning beer and breweries, the team at Lost Marble are intent on creating great beers. According to Kevin Mullaney, one of the principals, “Vermont is in the ‘big leagues’ of beer creation, so we have spent a considerable amount of time and effort assembling an experienced team to help create a range of unique hand-crafted beers that Manchester, and Vermont will
...More info on site
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Canada, ON: Ontario’s liquor agency to increase beer fee
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Ontario's liquor agency is increasing a fee it charges brewers, a move that would boost the cost of beer for all retailers, restaurants and bars in the province, CBC reported on February 25.
The move by the LCBO comes just days before the provincial election on Thursday, February 27.
The LCBO posted information about the fee increase on its website on February 24 within hours of Ontario PC Leader Doug Ford unveiling a new campaign promise to scrap the province's mandatory minimum prices for alcohol.
The increase is set to take effect on April 1.
It amounts to a 4.4 per cent jump in what the LCBO calls "cost of service," a levy that applies to all beer products — whether imported or domestic — sold at retail outlets such as The Beer Store, supermarkets, convenience stores and brewery retail outlets, as well as on beer distributed to bars and restaurants.
For beer sold at a retailer, the fee is currently set at 74.11 cents per litre and would rise to 77.37 cents per litre in April. That translates to a total of C$8.78 on a case of 24 "Tall Boy" (473 ml) cans, a 37-cent increase from the current rate.
Retailers are not
...More info on site
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USA, NJ: Obscura Brewing Company about to open in Cape May Court House
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A new brewery is about to open in Cape May County with a soft opening on March 6, 97.3 ESPN reported on February 21.
Obscura Brewing Company, formally Bucket Brigade, announced its soft opening day which will feature the chance to purchase Atlantic City Beer Festival Tickets at a discounted rate from 6-8 p.m., live music from Dean Dunlevy, and a Food Truck from Macs Cafe.
For the soft opening, doors will open at noon with food and music kick coming later in the day. They have also announced they are having a St. Paddy’s Party on March 8th and a Free Local Brewery Jitney on March 15th.
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USA, OR: New Von Ebert Brewing flagship location to open its doors on March 1st
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The much delayed and meticulously constructed new Von Ebert Brewing flagship location officially opens to the public this Saturday, March 1st.
The Portland, Oregon founded Von Ebert Brewing launched as a NW Pearl District brewpub in 2018 from the ashes of the former Fat Head’s Brewing, expanding to a Glendoveer golf course location and a satellite pizzeria in Beaverton. Last April the brewery closed their original homebase in the Pearl to refocus efforts on an expanded new production brewery at the home of the former Ecliptic Brewing mother ship at 825 N Cook St, off of Mississippi Ave.
Von Ebert Brewing on N. Mississippi is one of the most anticipated new Oregon breweries and taprooms of 2025, not the least because it will be the new permanent home of cult-favorite barbecue pop-up HarBQ, in addition to all the world-class beers.
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USA, WY: West Side Brewing expanding into Wyoming
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West Side Brewing in Westwood is expanding into Wyoming, WXIX reported on February 25.
The brewery bought Gilligan’s on the Green and rebranded it to Gilligan’s Brewery.
The founders of West Side Brewing say they have been a great neighbor in Westwood and plan on doing the same thing in Wyoming.
“A neighborhood Irish Pub meets an Irish Brewery,” describes West Side Brewing cofounder and CEO Joe Mumper. “We are really going to accentuate the fact that we’re brewing beer here. So, change the name from Gilligan’s on the Green to Gilligan’s Brewing. So, the beer is going to be the focus; The food menu is going to be different. It’s going to be a little bit more approachable, but it’s still going to be excellent food.”
West Side Brewing was already brewing its Gilligan’s Line of Irish, English and Scottish-inspired beer for the restaurant in early 2023 and started producing beer at a facility next to the restaurant, which now will be more of an authentic tap room.
“We’ve been brewing beer here now for a little while, so Wyoming is important to call home,” Mumper explained. “It’s important that this side of the business the pub, the bar, the restaurant side is operated
...More info on site
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USA, OH: Walking Distance Brewing Co. to close permanently at the end of the week
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A Marysville brewpub that hosted drag performances, sold "I'm an ally" T-shirts and drew the scorn of local conservatives in the process has announced plans to close permanently at the end of the week, The Columbus Dispatch reported on February 26.
Walking Distance Brewing Co. opened in October 2021 at 222 E. Eighth St. in the Union County community about 18 miles northwest of Dublin. Owner Teddy Valinski said the decision to close "didn't come lightly."
He made no reference to what he called a campaign of "slander and harassment" against his business in a June 2024 Dispatch story.
"We are so thankful for the community that we built together. And we are confident that the community we've built with you will continue to have a positive impact in Marysville," Valinski told his customers.
Walking Distance brewed its own stouts, IPAs and lagers on-site and sold them in cans and on tap from its bar. Valinski also brewed a hard seltzer he enhanced with flavors such as lemonade, peach, raspberry and dill pickle.
The pub hosted karaoke and trivia nights, craft markets, Columbus Crew watch parties and fundraisers for children's cancer research and other causes. But it was a June 2022 Yaaas Queen Drag Bingo
...More info on site
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World: AB InBev posts better-than-expected Q4 2024 sales despite annual decline in volumes
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The world’s largest brewer AB InBev on February 26 posted better-than-expected fourth-quarter sales despite an annual decline in volumes.
The drinks maker, whose brands include
...More info on site
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China: Demand for beer in China is on the rise, report says
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The demand for beer in China is on the rise, leading to a forecasted upward consumption trend over the next decade. By 2035, the
...More info on site
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Brazil: Ambev’s Q4 adjusted net profit up 7.5% despite decline in total volumes
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Brazilian brewer Ambev on February 26 reported a 7.5% increase in its fourth-quarter adjusted net profit despite a decline in total volumes, driving its
...More info on site
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The Netherlands: Beer sales drop 3.4% in 2024
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Beer sales dropped by 3.4 percent in the Netherlands compared to 2023, Stichting Dranken Nederland reported based on numbers provided by Dutch brewers.
The
...More info on site
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Australia: Barley crop estimate slightly down as high yields in Western Australia and New South Wales are unlikely to repeat
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Australia’s east coast has received further rainfall, setting up improved soil moisture conditions for barley crop’25, but less so in western Victoria and South
...More info on site
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New Zealand: Volume of beer available for consumption up 5.4% in 2024
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Stats NZ said the total volume of beer available for consumption in New Zealand increased 5.4% to 296 million litres last year, NZ Herald
...More info on site
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France: Only 22% of planned spring barley area sowed as of February 17
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By February 17, French farmers sowed only 22% of the planned area with spring barley, which is less than the same date last year (25%) and the average for the last five years (32%), state agency FranceAgriMer reported.
The condition of winter barley crops is worse than last year. Currently, 69% of winter barley crops are in good and very good condition (71% a year earlier). The development of crops is slower than last year and on average over the last five years.
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The Netherlands: Heineken reports transactions under its current share buyback programme
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Heineken Holding N.V. reported transaction details related to the first tranche of up to circa €375 million tranche of its share buyback programme of up to circa €750 million as communicated on 12 February 2025, Yahoo Finance said on February 24.
From 17 February 2025 up to and including 21 February 2025 a total of 66,866 shares was repurchased on exchange at an average price of € 68.13.
Up to and including 21 February 2025, a total of 80,200 shares was repurchased under the share buyback programme for a total consideration of € 5,477,843.
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China: Budweiser APAC names new chief in efforts to navigate weak Chinese market
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Shares of Budweiser Brewing Co APAC rallied the most in more than four years in Hong Kong after the brewer named a new chief executive in efforts to navigate a weak Chinese market, The Standard (HK) reported on February 26.
Budweiser APAC named Cheng Yanjun, a 29-year veteran of the company, to succeed Jan Craps who will step down after seven years, according to a company filing.
Shares of the beer maker surged as much as 13 percent in Hong Kong Wednesday morning following the company’s announcements for earnings and management change.
The company’s decision for a leadership handover, effective in April, comes after the brewer posted a net loss of US$16 million (HK$124.8 million) in the fourth-quarter, missing the US$6.72 million concensus by analysts. The company’s quarterly revenue trends also showed a decline for the fourth consecutive quarter.
“The appointment of a new CEO, which may mitigate negative impact of weak earnings, is a big reason for the rally today,” Richard Lin, an analyst with SPDB International Holdings Ltd, said.
Rival brewers also experienced a tough year in China. Both volume and revenue dropped for Carlsberg in China last year. The Chinese beer market declined by about 4 percent due to weak consumer environment
...More info on site
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World: Asahi Group Holdings announces new CEO for Asahi Europe & International
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Following the decision of Asahi Europe & International CEO, Paolo Lanzarotti, to retire from full time executive activity, Asahi Group Holdings (AGH) have promoted Dragos Constantinescu as CEO of its European and International business (excluding Japan, Australasia and Asia) effective 1st April 2025. At the same time Dragos will join the Executive Board of AGH, headquartered in Tokyo.
The Romanian led the local operations of Ursus Breweries from 2019 to 2021, following which he assumed the role of Managing Director for Asahi Europe & International’s operation in Germany, Austria, the Czech Republic, and Slovakia. Michał Mrowiec, who led Ursus Breweries since 2023, will take over Dragoș’ former role, becoming the CEO of Asahi’s business in the Czech Republic, Slovakia, Germany and Austria. The appointment of a new MD of Ursus will be announced in due course.
“I am thrilled to take on this new challenge, and to be able to work alongside talented colleagues across Asahi Europe & International and the wider group. It is a privilege to lead our growing European business and to oversee so many impactful initiatives focused on people and the planet. I look forward to driving future growth for our global and local brands, and continuing to
...More info on site
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Australia: Asahi sees canned beer outselling its bottled options
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Canned beer is outselling bottles for Asahi Beverages for the first time, leading the company to invested A$60 million in a new canning line at Australia’s largest brewery in Yatala, Queensland, Drinks Digest reported on February 23.
Beer sold in cans is expected to make up 52% of Asahi’s Australian business by next year. CEO Amanda Sellers told the Australian Financial Review the trend was being driven by craft beer and the greater affordability of cans due to their smaller size on average.
“It’s grown about 6% over the past few years since coming out of COVID-19, we saw a huge growth in cans,” Sellers said.
While Asahi’s Oceania division last week reported an 8.2% decline in profit in the 2024 calendar year, Sellers predicted beer consumption would return to growth this year as consumer confidence builds following Tuesday’s interest rate cut.
Asahi’s overall revenue grew 2.1% YoY in 2024, which it attributed to unit sales price increases driven by its focus on premiumisation and strategic price revisions. Revenue on actual currency basis grew +6.2% YoY.
Core operating profit grew +3.7% YoY, driven by higher profits in Japan and Europe, as well as improved cost efficiencies, which helped counterbalance the decline in profits in Oceania
...More info on site
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UK: Heineken to make its Sol beer weaker this week
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Dutch brewer Heineken is making one of its most popular brands weaker this week in an effort to reduce costs, The Drinks Business reported on February 24.
From 25 February, Heineken will reduce the alcohol of its Sol beer brand to just 3.4% ABV down from 4.2% ABV.
The beer, which was originally brewed in Mexico before it was acquired by Heineken from Fomento Economico Mexicana SAB (FEMSA) in 2010 in a deal worth £4.8 billion, is now produced in Zoeerwoude in the Netherlands.
According to reports via The Sun, increased cost pressures facing the sector have also pushed the decision for beer companies to make the move to bring the strength down on some beers. This includes the Asahi-owned Dark Star beer Hophead which has seen a reduction from 3.8% ABV to 3.4% ABV.
One of the reasonings for the change is down to the beer companies looking to avoiding the amount of duty which needs to be paid for beers over a certain strength.
The move to reduce the alcohol within beers to navigate the tax rate on products has also reportedly been a move brands like Stella Artois, Foster’s and Old Speckled Hen, among others have also recently made.
Earlier this month,
...More info on site
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South Korea: Asahi beer prices in South Korea to rise by up to 20% next month
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The price of Asahi beer handled by Lotte Asahi Beverage will rise by up to 20% starting next month, ChosunBiz reported on February 23.
According to the liquor industry on the 23rd, starting from the 1st of next month, the price of Asahi Super Dry canned beer 500㎖ sold at convenience stores will increase by 400 won from the current 4,500 won to 4,900 won.
The price of the same product in 350㎖ will rise from 3,500 won to 4,000 won, and the price of Asahi Super Dry draft beer in 340㎖ will increase from 4,500 won to 4,900 won.
In particular, Asahi Super Dry bottled beer 640㎖ will rise by 20% from 4,500 won to 5,400 won.
The price of imported beer has been continuously rising since the '10,000 won for 4 cans of imported beer' rule was broken in 2022.
Korea's top beer company, OB Beer, raised the average price of six types of imported beers, including Budweiser, Hoegaarden, Stella, and Suntory, sold at convenience stores and large supermarkets by 8% in November last year.
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