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E-Malt.com Newsletter 13b
March 27 - March 30, 2025
Quote of the Week
The brewery is the best drugstore.
Old German folk wisdom
Currency Rates
Base Currency: US Dollar
on March 28, 2025 |
Base Currency: Canadian Dollar
on March 28, 2025 |
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1 USD = 0.9273 EUR
1 USD = 0.7732 GBP
1 USD = 1.4293 CAD
1 USD = 1.5857 AUD
1 USD = 150.7070 JPY
1 USD = 5.7386 BRL
1 USD = 84.1145 RUB
1 USD = 7.2602 CNY
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1 CAD = 0.6996 USD
1 CAD = 0.5409 GBP
1 CAD = 0.6487 EUR
1 CAD = 1.1093 AUD
1 CAD = 105.4280 JPY
1 CAD = 4.0145 BRL
1 CAD = 58.8428 RUB
1 CAD = 5.0789 CNY
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Currency Rates Chart
Equities of the Largest Breweries
USA: Beer and soft drink makers to benefit as Americans consume less alcohol, analysis says
...Click here
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Canada: Trade wars with the US and China could mean more barley acres in Canada
...Click here
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USA: Barley production forecast to slightly increase in 2025-26
...Click here
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USA, AR: Crisis Brewing submits plan for new production facility in Fayetteville
...Click here
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USA, NH: AB InBev permanently closing its beer production operation at Pease International Tradeport
...Click here
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USA, WA: Stemma Brewing Co. opens inside Twin Sisters Brewery’s previous location
...Click here
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USA, TN: Johnson City Brewing Company announces new location
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USA, TN: TailGate Brewery doubles brewing capacity at Nashville headquarters
...Click here
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Australia: Beer sector sees steady growth in production despite drop in per capita consumption
...Click here
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South Korea: HiteJinro's beer sales projected to drop in Q1 this year
...Click here
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Argentina: Majority of barley crop 2024 expected to meet malting quality
...Click here
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Australia: Growth in zero-alcohol beer sales begins to slow down, study shows
...Click here
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World: Deutsche Bank cuts Heineken price target to EUR80 from EUR82
...Click here
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Nigeria: Construction of Benue’s permanent brewery to be completed by the middle of this year
...Click here
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Vietnam: Sharp increase in special consumption tax on beer proposed instead of small annual ones
...Click here
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UK: Fruit-led beers gaining significant traction in the UK
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The Philippines: Senator pushing for excise tax hike on alcohol
...Click here
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Graph of the Week
Table of the Week
Wold Hop Acreage and Percent Share 2019 - 2024
Prices Evolution
Barley Prices
Theoretical Malt Prices
These Days in Business History
27 March
1855 - Abraham Gesner patents kerosene
1999 - The macro virus "Melissa" was reported for the first
28 March
1797 - Nathaniel Briggs of NH patents a washing machine
1841 - 1st U.S. steam fire engine tested, New York City
1866 - 1st ambulance goes into service
29 March
1886 - Chemist John Pemberton begins to advertise for Coca-Coke
1888 - James E. Casey is born, founder of United Parcel Service
1918 - Sam Moore Walton, future founder of Wal-Mart, is born in Kingfisher, Okla
30 March
1858 - Pencil with attached eraser patented by Hyman L. Lipman
1867 - U.S. Secretary of State William H. Seward agrees to purchase the Alaskan territories from Russia for $7,200,000
Agenda
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 (Paris, France)
13 - 15: International Beer Strategies Conference 2025 (Prague, the Czech Republic)
16 - 17: Copenhagen Beer Festival 2025 (Copenhagen, Denmark)
16 - 18: Cerveza Mexico Expo 2025 (Expo Guadalajara, Jalisco, Mexico)
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: Beer and soft drink makers to benefit as Americans consume less alcohol, analysis says
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Soft drink and beer makers stand to benefit as Americans consume less booze.
That's the take of analysts at Morgan Stanley, who on March 25 published a report discussing possible outcomes as alcohol seems out of favor at the moment. The drivers, in short, include an increasingly health-conscious consumer, but also economic pressures that could be short-term.
"With alcohol per capita consumption likely to decline, we see the zero-alcohol segment as ripe for strong growth," Morgan Stanley wrote. "We believe that beer is better positioned than spirits in this regard. We similarly see higher growth for soft drinks, aided by stronger pricing power, and with innovation to better satisfy the 'good for you' criteria increasingly demanded by the younger consumer."
Companies are making decisions informed by the same trends. PepsiCo (PEP) earlier this month agreed to buy prebiotic soda brand Poppi for $1.65 billion. Reed's, a company known for ginger ales that trades over the counter, on a recent conference call discussed a new "multifunctional" line of sodas made with ingredients like organic ginger and mushroom extracts and comparably low calorie counts.
"These beverages cater to the rising demand for health conscious, functional refreshment options and position us at the forefront
...More info on site
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Canada: Trade wars with the US and China could mean more barley acres in Canada
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Canada’s trade wars with the United States and China could mean more barley acres, Country Guide reported on March 27.
Jim Beusekom, president of Market Place Commodities in Lethbridge, Alta. said with canola and pea shipments set to be hindered by the new levies, growers may be more inclined to plant more barley acres this spring.
“I’m going to estimate we could easily see a 15 to 20 per cent growth in barley acres, somewhere in the tune of 1.5 million to two million extra barley acres going in (this spring),” he said. “(Some growers said) they don’t know what to grow, and when they don’t know what to grow, they revert back to low-cost production, which would be cereal grains like barley.”
Agriculture and Agri-Food Canada projected 6.28 million barley acres to be seeded in 2025-26, compared to 6.4 million the previous year.
The amount of cattle in feedlots have become smaller due to the potential tariffs and a shrinking cattle herd in North America. Beusekom said these have resulted in less grain demand at feedlots and cattle staying there longer.
“Corn is still coming in from the United States and because of the threat of corn being (subject to) retaliatory tariffs, everybody’s front-loading
...More info on site
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USA: Barley production forecast to slightly increase in 2025-26
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For the US, the USDA’s ten-year baseline projections indicate a slight y/y increase in the 2025-26 barley production, primarily as a result of expected
...More info on site
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USA, AR: Crisis Brewing submits plan for new production facility in Fayetteville
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A project to build a new brewery and gathering place in south Fayetteville that has been in the works for about 7 years is about to come to fruition, Fayetteville Flyer reported on March 26.
Crisis Brewing, a small craft brewery that began in what was once a storage shed behind the old Penguin Ed’s B&B barbecue, has submitted plans for a new 10,000 square foot production facility with 6,000 square foot indoor/outdoor taproom on the same property it has been operating on since it opened in 2018.
Owners Sean and Liz Slape said their goal with the new brewery is to keep a lot of the same charm of their small space that the neighborhood has come to love, but to add brewing capacity, parking, and room to gather while also preserving the green space that make the brewery special.
“Sometimes It feels like our town is becoming nothing but student housing built by people that don’t live here,” Liz said. “We’re from Fayetteville, live in Fayetteville, and love Fayetteville. We want to continue to invest in this area and keep the soul of Fayetteville alive and growing.”
The new building will be situated along Nelson Hackett Boulevard, and will include extra space
...More info on site
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USA, NH: AB InBev permanently closing its beer production operation at Pease International Tradeport
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Anheuser-Busch, the largest brewer in the world, is permanently closing its beer production operation at Pease International Tradeport in the same building where the recently shuttered Cisco Brewers bar was located, Seacostonline.com reported on March 28.
The company confirmed Thursday it is ending the Craft Brew Alliance production at Pease in the coming months, citing its $1 million pledge to expand Wicked Weed Brewing’s operations in Asheville, North Carolina.
Wicked Weed Brewing is a craft beer company within Anheuser-Busch’s portfolio.
A canning line on-site dedicated to Cisco Brewers’ beer at the Portsmouth site will be repurposed to support other craft beers and will remain operational, according to Anheuser-Busch.
There will be an unspecified number of layoffs at Pease as a result of the end of beer production. Anheuser-Busch stated it intends to provide severance packages to affected employees.
“In line with this (Wicked Weed) investment, operations at the Craft Brew Alliance (CBA) production facility in Portsmouth will cease over the next few months,” the statement reads. “We understand the impact of this announcement on our people in Portsmouth, and we are committed to working with the local union that represents some of the CBA facility employees to provide resources for impacted employees in Portsmouth, such
...More info on site
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USA, WA: Stemma Brewing Co. opens inside Twin Sisters Brewery’s previous location
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Twin Sisters Brewery, a popular brewery and restaurant in Bellingham known for its iconic “beer garden” sign and ambiance, closed permanently in December.
As the popular brewery closed, owners also announced that another Bellingham brewery — Stemma Brewing Co. — had purchased its restaurant, beer garden and brewery, , Belligham Herald reported on March 27.
Stemma Brewing Co. renovated the massive space and is now opening its second location on Thursday, March 27, according to an Instagram post, calling it Stemma West.
“We’re in our soft opening phase, with a grand opening planned for early summer,” the post states.
The new brewery will be open regularly from 11 a.m. to 10 p.m. Thursday through Sunday and 3 to 10 p.m. Tuesday and Wednesday at 508 Carolina St. in Bellingham.
Stemma’s original brewery is still open from 11 a.m. to 10 p.m. daily at 2039 Moore St. in Bellingham.
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USA, TN: Johnson City Brewing Company announces new location
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Johnson City Brewing Company has been in its current location on the corner of East Main Street and South Roan Street in downtown Johnson City for over a decade. On Tuesday, the company announced a new location is coming to West Walnut Street, WJHL reported on March 25.
Co-founder and head brewer Eric Latham told News Channel 11 that they plan to keep the downtown location and want to differentiate the new place on West Walnut by focusing on the experiences they can provide.
“We want to create a community space that supports creativity and a place that’s welcome to all people,” Latham said. “This new one, I mean, because of the extra space and the outdoor space and parking, parking’s a big thing. You can have festivals and bigger events and some live music and things like that. Whereas the one on the corner, there? I love it because it’s like your corner neighborhood pub, you can only fit like 20 of your friends in there, and with the glass you can kind of watch the world go by, but they’re just different models.”
Latham says he’s open to evolving what they offer at the taproom, as well.
“I might do some kind
...More info on site
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USA, TN: TailGate Brewery doubles brewing capacity at Nashville headquarters
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TailGate Brewery just doubled its brewing capacity at its Nashville headquarters, Craft Brewing Business reported on March 26.
The expansion includes a new 30-bbl brewhouse and 760 more barrels of fermentation space, bringing the total cellar capacity to 1,100 bbls.
A new 100-bbl horizontal lagering tank supports the brewery’s popular Lager Projekt series.
TailGate also added a second centrifuge to streamline production and improve beer clarity.
This investment ensures TailGate can support increased demand across its beer, cider, and THC sparkling water lines.
Founded in 2014, TailGate Brewery has grown from a single location to nine taprooms across Tennessee, plus an airport outpost.
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Australia: Beer sector sees steady growth in production despite drop in per capita consumption
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Australia’s beer manufacturing industry has seen steady growth in recent years, despite a decline in per capita beer consumption, according to the latest research
...More info on site
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South Korea: HiteJinro's beer sales projected to drop in Q1 this year
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HiteJinro has struggled in the institutional sector since the ambitious launch of its beer Kelly ahead of its 100th anniversary. In the two years following Kelly's release, beer revenue has plummeted, leading to a downward spiral with decreasing factory utilization rates. Consequently, there are evaluations that this has become a self-inflicted wound that hampers the overall beer business of the company, Chosunbiz reported on March 28.
According to the consensus from the securities industry on the 28th, HiteJinro's beer sales in the first quarter of this year are projected to be 179.7 billion won, a 7% decrease compared to the same period last year. During the same period, the operating profit is expected to be 5.6 billion won, a 23% drop.
HiteJinro had expected the revival of its institutional sector through the "pulling effect" of Kelly and its existing beer Terra, marking the 100th anniversary of its foundation last year. However, it faced a backlash instead.
Looking at the whole of 2024, HiteJinro’s standalone beer sales decreased by 3.4 billion won (-0.5%) from 728.8 billion won in 2023 to 725.4 billion won last year. When combined with subsidiary financial information, the consolidated revenue only rose by 0.04%. Considering that the effect of the
...More info on site
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Argentina: Majority of barley crop 2024 expected to meet malting quality
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An extreme weather event has dumped massive rainfall across all agricultural regions of Argentina. While in northern regions this is beneficial for soil moisture
...More info on site
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Australia: Growth in zero-alcohol beer sales begins to slow down, study shows
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Zero-alcohol alternatives have seen significant growth in Australia over the past five years, with beer remaining the most widely purchased category. However, recent data from Circana reveals that growth in zero-alcohol beer sales has begun to slow, Beer & Brewer reported on March 26.
Innovation has decreased recently, contributing to this slowdown. Innovation accounted for $1.8m in sales in the past 12 months, compared to an average of $5m annually in the previous three years. As 24 per cent of shoppers actively seek new products, demand tends to stagnate without fresh offerings.
“Over the past five years, the data shows a clear increase in zero-alcohol purchases,” said Andrew Gerrard, Senior Consultant at Circana. “However, we are starting to see the growth slowing. Being ‘curious to give it a try’ was the second top motivator for purchasing a zero-alcohol alternative in 2022; this has slipped to number four in 2025.”
While beer remains the dominant category in the zero-alcohol market, other beverages like wine, spirits, and cider are seeing increased interest. Wine has strong potential for growth, though it still faces challenges in meeting consumer flavour expectations. Spirits, meanwhile, are hindered by higher per-unit costs, which make them less competitive compared to full-strength options.
...More info on site
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UK: UK barley and wheat exports remain slow
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UK wheat and barley exports have remained slow. January wheat exports were 18.7 thousand tonnes, an increase from the 9 thousand tonnes recorded a year earlier but well below the five-year January average of 52.1 thousand tonnes, UkrAgroConsult reported on March 27
Cumulative wheat exports from July to January stood at 88.8 thousand tonnes, down 48% from the previous year and 80% below the five-year average.
Barley exports in January reached 59.9 thousand tonnes, down 35% year-on-year, with season-to-date exports at 317.1 thousand tonnes, a 37% drop from last year and 61% below the five-year average. A strong sterling, a reduced wheat crop, and weak demand from Europe have all contributed to sluggish exports.
Projections for total wheat exports in 2024/25 currently stand at 175 thousand tonnes, 32% lower than last year, while barley exports are expected to total 500 thousand tonnes, down 280 thousand tonnes from 2023/24.
At the same time, imports have remained firm. UK wheat imports in January reached 258.6 thousand tonnes, bringing the total from July to January to 1.963 mln tonnes. Much of this imported wheat is assumed to be high-quality milling wheat, with Canada supplying 134.8 thousand tonnes.
UK maize imports in January hit 307.8
...More info on site
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World: Deutsche Bank cuts Heineken price target to EUR80 from EUR82
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On March 25, Deutsche Bank analysts adjusted their financial outlook for Heineken NV, reducing the beer giant’s price target from EUR 82.00 to EUR 80.00, while maintaining a Hold rating on the stock. The revision comes ahead of Heineken’s first-quarter sales report, scheduled for release on April 16, 2025, Investing.com reported.
Analysts at Deutsche Bank anticipate that Heineken will experience organic volume growth of 3.0% in the first quarter of 2025. However, they forecast a slight decline in organic revenue growth of -0.5%, with a price/mix of 2.6%. The expected downturn in revenue growth is attributed to several factors, including the comparison to a leap year, a later Easter, and challenges in specific markets such as Europe and Mexico. Despite these headwinds, a ’normal’ Tet celebration in Vietnam is anticipated.
Heineken is expected to confirm its full-year 2025 organic operating profit guidance, which predicts an increase of 4-8%. Deutsche Bank’s own estimate stands at 5.4%, while the Vuma consensus—a compilation of forecasts from various analysts—suggests a slightly higher expectation of 6.1%.
Investors and market watchers will be closely monitoring Heineken’s performance as the company navigates through the varied market conditions and strives to meet its stated financial targets for the year.
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Nigeria: Construction of Benue’s permanent brewery to be completed by the middle of this year
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The Managing Director and Chief Executive Officer of Benue Investment and Property Company (BIPC), Dr. Raymond Asemakaha, announced on March 26 that construction of the permanent site for the state’s brewery will be completed by the middle of this year, Tribune Online reported.
The company has already begun production of a beer named ‘ZEVA Premium Lager Beer,’ which was launched in december 2024.
During the commencement of sales for the second batch of Zeva Premium Beer and Oyi Bitters to vendors in Makurdi, Dr. Asemakaha stated that the company’s goals are to combat capital flight and enhance the GDP of Benue State through local beer production.
He noted that beer consumption in Benue State is currently estimated at over one billion naira monthly. With plans to commence production by the end of June at the permanent site, BIPC aims to create approximately one thousand direct jobs and over a thousand indirect jobs for the youth of Benue, thereby stimulating economic growth and positively impacting the community.
Additionally, Dr. Asemakaha mentioned that a strategic marketing plan, in collaboration with Oyi Bitters—which is produced and packaged by BIPC—is being implemented to enhance demand and value for the products. This strategy aims to benefit vendors and contribute
...More info on site
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Vietnam: Sharp increase in special consumption tax on beer proposed instead of small annual ones
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National Assembly delegate Hoang Van Cuong (Hanoi delegation) has proposed a sharp, one-time increase in special consumption taxes on tobacco, alcohol, and beer in Vietnam rather than small, annual increases, VietNamNet.vn reported on March 26.
On the morning of March 25, specialized National Assembly delegates discussed the draft amendment to the Law on Special Consumption Tax, focusing on proposed tax policies for gasoline, air conditioners, alcohol, and beer.
The Economic and Financial Committee of the National Assembly reported that some opinions suggested exempting gasoline and air conditioners from special consumption tax, as they are considered essential goods.
Regarding alcohol and beer, many opinions suggested maintaining a 65% tax rate on beer for about two years, with an increase to 70% from 2027 or 2028 and a roadmap of 5% per year thereafter.
Others recommended a unified tax rate for all alcohol types, regardless of alcohol content, similar to the rate for beer.
The drafting and review agencies noted that excessive beer consumption has severe socio-economic consequences, placing a heavy burden on public health systems and social welfare.
Therefore, imposing high taxes on these products is necessary to reduce consumption and mitigate harmful effects.
Current laws already stipulate high tax rates on beer to regulate production and limit
...More info on site
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UK: Fruit-led beers gaining significant traction in the UK
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Fruit-led beers are gaining significant traction in the UK, with a 250% increase in sales volume last year, says retailer Tesco. As consumers increasingly seek lower alcohol options, these “lighter, thirst-quenching beers” — with a typical strength of around 4% ABV — have led the flavored beers launches at 17% over the last five years, indicates Innova Market Insights data.
Fruity beer styles are popular in Western European countries such as France, Germany, Belgium, Spain, and Italy and are associated with “after-sport” refreshments, particularly skiing, and cycling.
“The soaring demand for fruit-led brews, particularly lager, has taken the UK drinks market by storm and is the biggest trend to hit the beer scene since the craft boom started more than 15 years ago,” says Ben Cole, beer buyer and category planning manager at Tesco.
“The trend actually has its roots in the craft beer movement because it introduced beers with tropical fruit profiles to more drinkers than ever before.”
Cole believes the craft movement changed consumers’ perception of “what a beer could taste like” and opened many drinkers’ palates to a wider range of styles.
The trend traces a similar path to the fruit-led “cider boom” in the UK 20 years ago with the introduction
...More info on site
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The Philippines: Senator pushing for excise tax hike on alcohol
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Philippine Senator Manny Pacquiao on March 26 pushed for higher taxes on alcoholic beverages, following a similar proposal to raise duties on cigarettes, ABS CBN reported.
Pacquiao's bill seeks to raise the excise tax on beer or fermented liquor to P40 per liter from P25.42 per liter. This is higher than the P28 proposed in the House of Representatives, said Finance Undersecretary Karl Kendrick Chua.
The Senate measure seeks to raise the excise tax rate on distilled spirits to 25 percent of net retail price from 20 percent, or P40 per proof liter from P23.40, Chua said. The House version called for a P30 per liter levy.
Pacquiao’s DOF-approved version proposed to the tax on sparkling wines and champagne to P335 from 316.34, to P40 from P37.96 per bottle of still and carbonated wines with 14 percent or less alcohol, and to P80 from P75.93 for those with more than 14 percent but not more than 25 percent alcohol.
Pacquiao’s version also proposed a 10 percent increase on wine excise tax every year to account for inflation, Chua said
"Alcohol intoxication is dangerous to our health and bad for our society… By increasing the tax, this can discourage the youth, the poor and the marginalized
...More info on site
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Romania: Heineken launches Amstel beer in Romania
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The Dutch beer Amstel, part of the Heineken group, is launching in Romania in March of this year. Amstel® will become the first international brand from the current portfolio of mainstream beers in Romania, offering consumers an affordable alternative, but with a consolidated reputation globally, Business Review reported on March 26.
Made from 100% malt, without the addition of unmalted grains, Amstel offers a balanced, light taste, but at the same time full of flavor. Amstel beer will be produced locally, respecting the standards of the international Amstel beer recipe, in terms of ingredients and taste parameters.
“The launch of Amstel marks a historic moment for Heineken Romania. We are proud to be able to bring to Romania an international brand, with such a rich history behind it, and which we have the opportunity to produce locally. With this launch, we want to offer consumers in Romania the opportunity to enjoy affordable brands, but which also have the reputation and aspirational image characteristic of brands from various other countries of the world. Amstel is the first international brand in the mainstream beer portfolio, launched by Heineken in Romania“, said Thibaut Boidin, Managing Director of Heineken Romania.
The positioning of the Amstel brand around
...More info on site
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