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E-Malt.com Newsletter 03a
January 12 - January 14, 2026
Quote of the Week
Planning is bringing the future into the present so that you can do something about it now.
Alan Lakein
Currency Rates
Base Currency: US Dollar
on January 14, 2026 |
Base Currency: Canadian Dollar
on January 14, 2026 |
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1 USD = 0.8578 EUR
1 USD = 0.7431 GBP
1 USD = 1.3880 CAD
1 USD = 1.4929 AUD
1 USD = 158.8730 JPY
1 USD = 5.3750 BRL
1 USD = 78.5762 RUB
1 USD = 6.9755 CNY
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1 CAD = 0.7204 USD
1 CAD = 0.5353 GBP
1 CAD = 0.6179 EUR
1 CAD = 1.0755 AUD
1 CAD = 114.4470 JPY
1 CAD = 3.8720 BRL
1 CAD = 56.6039 RUB
1 CAD = 5.0249 CNY
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Currency Rates Chart
Equities of the Largest Breweries
USA: NBWA Beer Purchasers’ Index performs badly again in December
...Click here
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Canada: Barley crop 2026 forecast 0.3 mln tonnes above 5-year average
...Click here
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USA, NY: Back Barn Brewing Co. to open new location in Ballston Spa
...Click here
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Canada, SK: 9 Mile Legacy Brewing to handle beer production for Black Bridge Brewery
...Click here
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USA, IL: Funkytown Brewery gets grant to open facility in Chicago
...Click here
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USA: Constellation Brands extends Modelo beer franchise with first non-alcoholic offering
...Click here
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USA, OH: Thompson Brewing Co. gets lease agreement approval for new location in Cleveland
...Click here
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USA, MI: County Seat Brewing Company set to open in downtown Ionia
...Click here
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USA, NC: Gastonia’s Cavendish Brewing Company closes for good
...Click here
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USA, MI: Motor City Brewing Works closing after 31 years in business
...Click here
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World: Heineken CEO steps down as brewer continues to grapple with waning consumer demand
...Click here
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World: Barley crop 2026 forecast to decline by 8.6 mln tonnes from 2025
...Click here
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World: Global barley production, trade forecasts up in USDA’s January report
...Click here
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Europe: Decline in spring barley planted area and reversion towards average yields lead to reduced crop forecast
...Click here
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Argentina: Both malting and feed barley prices strengthen in Argentina
...Click here
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China: Diageo mulls divesting China assets, sources say
...Click here
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Jamaica: Wisynco Group opens new US$35-million brewery in Lakes Pen
...Click here
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Ireland: Irish drinks sector shows determined resilience in 2025
...Click here
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New Zealand: Suntory officially launches multi-beverage business in New Zealand
...Click here
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Ireland: Diageo confirms new drought products price hike
...Click here
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Thailand: Thailand Stock Exchange considers removing ban on listing alcoholic beverage companies
...Click here
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Nigeria: Champion Breweries opens share offer assisting African expansion
...Click here
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Taiwan: Hops, malt tariff exemptions clear legislative floor
...Click here
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Graph of the Week
Table of the Week
World Barley Production by Region
Prices Evolution
Barley Prices
Theoretical Malt Prices
These Days in Business History
12 January
1914 - Henry Ford announces that he will share the Ford Motor Co.'s profits with its workers by raising wages from $2.34 for a nine-hour day to $5.00 for an eight-hour day
1970 - Boeing 747 makes its maiden voyage
1975 - Chrysler Corp offers 1st car rebates
13 January
1785 - John Walter publishes 1st issue of London Times
1942 - Henry Ford patents a method of constructing plastic auto bodies
14 January
1914 - Henry Ford introduces assembly line, for T-Fords
1935 - Oil pipeline Iraq-Mediterranean goes into use
1985 - British pound sinks to record low-$1.11
Agenda
January 2026:
25 - 27: Planete Biere Toulouse 2026 (Toulouse, France)
February 2026:
05 - 06: Glug Swiss 2026 (Alte Reithalle, Aarau, Switzerland)
13 - 16: HoReCa 2026 (Athens, Greece)
15 - 17: BBTech Expo 2026 (Rimini, Italy)
23 - 23: Beer Experience 2026 (Antwerp, Belgium)
27 - 01 March: Finest Spirits 2026 (Munich, Germany)
March 2026:
04 - 07: Festival Brasileiro da Cerveja 2026 (Blumenau, Brazil)
15 - 17: Planete Biere Marseille 2026 (Marseille, France)
18 - 19: BeerX 2026 (Liverpool, UK)
20 - 22: St Malo Craft Beer Expo 2026 (St Malo, France)
24 - 26: 110th International Brewing & Engineering Conference 2026 (Erding, Germany)
24 - 26: RMI Global Conference 2026 (Lisbon, Portugal)
26 - 28: Warsaw Beer Festival 2026 (Warsaw, Poland)
April 2026:
07 - 09: Craft Beer China 2026 (Shanghai, China)
10 - 11: InnBrew 2026 (Barcelona, Spain)
10 - 12: Barcelona Beer Festival 2026 (Barcelona, Spain)
16 - 18: KIBEX 2026 (Seoul, South Korea)
20 - 22: Craft Brewers Conference & BrewExpo America 2026 (Philadelphia, USA)
22 - 22: World Beer Cup 2026 (Pennsylvania Convention Center, Philadelphia, USA)
22 - 22: World Beer Cup 2026 (Pennsylvania Convention Center, Philadelphia, USA)
28 - 30: 28th Annual International Beer and Cider Strategies 2026 (InterContinental Barcelona, Spain)
May 2026:
04 - 07: Worldwide Distilled Spirits Conference 2026 (EICC, Edinburgh, Scotland, UK)
04 - 10: Budapest Beer Week 2026 (Budapest, Hungary)
19 - 21: Expo Antad & Alimentaria Mexico 2026 (Expo Guadalajara, Jalisco, Mexico)
29 - 30: Copenhagen Beer Festival 2026 (Copenhagen, Denmark)
29 - 30: Tallinn Craft Beer Weekend 2026 (Tallinn, Estonia)
June 2026:
08 - 10: Brewing Conference Bangkok 2026 (Muang Thong Thani, Impact Challenger Hall, Jupiter 4-5, Bangkok, Thailand)
09 - 10: IGC Grains Conference 2026 (2 Savoy Place, London, UK)
09 - 11: Brasil Brau 2026 (Sao Paulo, Brazil)
17 - 18: Global Beer Summit 2026 (Brussels, Belgium)
July 2026:
17 - 18: London Craft Beer Festival 2026 (London, UK)
August 2026:
06 - 08: VIETFOOD & BEVERAGE - PROPACK VIETNAM 2026 (799 Nguyen Van Linh Street, Tan My Ward, Ho Chi Minh City, Vietnam)
21 - 22: Beervana 2026 (Wellington, New Zealand)
September 2026:
12 - 13: Bruges Beer Festival 2026 (Bruges, Belgium)
19 - 04 October: Oktoberfest 2026 (Munich, Germany)
24 - 27: Mondial de la Biere 2026 (Montreal, Canada)
26 - 28: Whisky Live Paris 2026 (Paris, France)
October 2026:
08 - 10: The Great American Beer Festival 2026 (Denver, USA)
15 - 16: Salon du Brasseur 2026 (Parc Expo Nancy, France)
23 - 25: Stockholm Beer & Whisky Festival 2026 (Stockholm, Sweden)
28 - 29: Brew Asia 2026 (Ho Chi Minh City, Vietnam)
31 - 03 November: Planete Biere Rennes 2026 (Rennes, France)
November 2026:
10 - 12: Brau Beviale 2026 (Nuremberg, Germany)
23 - 25: 16th Iberoamerican VLB Symposium Brewing & Filling Technology (Panama)
News Articles
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USA: January-November 2025 beer sales down 5.4%
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The US Beer Institute said its estimate of the nation’s taxable beer removals for November 2025 was 10,000,000 barrels, representing a decrease of 3.6%
...More info on site
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USA: NBWA Beer Purchasers’ Index performs badly again in December
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No much has changed in the US consumer activity surrounding beer categories, as the overall NBWA Beer Purchasers’ Index performed badly again in December,
...More info on site
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Canada: Barley crop 2026 forecast 0.3 mln tonnes above 5-year average
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Canada’s barley-planted area for crop’26 is expected to remain mostly unchanged, but the surprisingly good yields from crop’25 are not expected to repeat in
...More info on site
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USA, NY: Back Barn Brewing Co. to open new location in Ballston Spa
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Back Barn Brewing Co. is set to open a new location in Ballston Spa, WNYT reported on January 12.
The brewery will be located in the historic Doubleday House at 28 Washington Street. Back Barn Brewing is known for restoring 200-year-old barns and producing classic beers.
The company said it was an easy decision to expand into Saratoga County. They look forward to joining the Ballston Spa community.
Back Barn Brewing started seven years ago with a location on Route 20 in Duanesburg.
The company will release more details on opening dates soon.
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Canada, SK: 9 Mile Legacy Brewing to handle beer production for Black Bridge Brewery
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Saskatoon’s 9 Mile Legacy Brewing will now handle beer production for Black Bridge Brewery. CTV News reported on January 9.
Black Bridge’s taproom in Swift Current will close, but the brand — and the beer — will continue.
“This next step for Black Bridge is truly bittersweet,” owners Clayton and Kari Stenson wrote in a Facebook post.
“We’re not going anywhere, we’re just evolving.”
Shawn Moen, the CEO of 9 Mile, said he’s excited for the expansion, while acknowledging the “curveballs and speed bumps” the industry has faced.
Craft breweries boomed in the 2010s.
Since that time, businesses have faced a pandemic, changing consumer habits, and now, tariffs driving up the cost of aluminum cans.
Mark Heise, owner of Rebellion Brewing in Regina, said those pressures have changed how brewers operate.
“A lot of folks are coming up on ten-year leases expiring, or needing to be renewed,” said Heise, who is also the interim executive director with the Saskatchewan Craft Brewers Association.
“Some folks just maybe aren’t seeing the market conditions are all that ripe. It’s been a pretty tough five or six years, and they’re thinking, ‘I’m not sure I’m up for more of that.’”
Heise said more small brewers — often friends in the tight-knit industry — are
...More info on site
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USA, IL: Funkytown Brewery gets grant to open facility in Chicago
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A Chicago brewery has landed a $3.7 million grant from the city, taking a big step closer to its vision of opening a facility near the United Center arena, Costar reported on January 12.
Funkytown Brewery recently was awarded the funds as part of the city planning department’s Community Development Grant program, according to the Black-owned brewery and an announcement by Mayor Brandon Johnson.
The grant will cover about half the cost of a long-planned project to buy a vacant building at 1931 W. Lake St. and convert it to the company’s first standalone brewing, distribution and retail facility.
New funding comes just over a year after CoStar News first reported Funkytown’s plans to spin out of the Pilot Project incubator in the Logan Square neighborhood.
At the time, CEO and co-founder Richard Bloomfield said Funkytown was under contract to buy the two-story building near the home arena of the NBA’s Chicago Bulls and NHL’s Chicago Blackhawks.
But the brewery never completed the Near West Side purchase as efforts to line up investors for the expansion were slow to materialize after worries about tariffs and the broader economy weighed on fundraising efforts, Bloomfield said.
There also are challenges in the craft brewing industry. For the first
...More info on site
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USA: Constellation Brands extends Modelo beer franchise with first non-alcoholic offering
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Constellation Brands has extended the Modelo beer franchise in the US with the launch of the brand’s first non-alcoholic offering, Global Drinks Intel reported on January 8.
Modelo Chelada Limón y Sal Non-Alcoholic is rolling out to the brand’s leading markets in the country, including California, Florida, Illinois, New York and Texas, from this week. The chelada has “less than 0.5%” ABV per 12oz (35.5cl) can and is being sold in six-packs, priced in line with Corona Non-Alcoholic.
The new SKU adapts the Limón y Sal variant from Modelo’s ready-to-drink chelada range. Constellation Brands holds the rights to brew and sell the Modelo and Corona brands under licence in the US, with AB InBev owning the pair globally.
“Limón y Sal has been the fan favourite in our ready-to-drink chelada line-up for six years running, so it was the obvious pick for our first non‑alcoholic release,” said Modelo’s VP of brand marketing at Constellation, Logan Jensen. “It brings moderation and flavour together, with the authentic sabor that defines the Modelo Chelada product line.”
In April, AB InBev announced plans to invest US$3.6bn in Mexico through its Grupo Modelo business unit in the country.
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USA, OH: Thompson Brewing Co. gets lease agreement approval for new location in Cleveland
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Cleveland’s City Council unanimously approved a lease agreement on January 6 that will transform a vacant 1959 military building at the entrance to Fairmount Park into a brewery and beer garden, the Rain Cross Gazette reported on January 7.
Thompson Brewing Co., which operates its flagship location on Indiana Avenue in Ward 5, will take over the 12,000-square-foot Armory building at 2501 Fairmount Blvd. under a deal that could extend up to 25 years through four optional five-year renewals.
The city will invest $2.5 million in federal funds to remediate environmental contamination and bring the building up to code before Thompson begins paying rent. The brewery will receive two years of rent credits for tenant improvements, with $12,000 monthly payments beginning in year three. The city projects collecting $458,000 over the initial five-year term.
The deal is not yet final. The lease includes a provision allowing Thompson to terminate the agreement within 12 months of the effective date without penalty. Thompson signed the agreement in November; the city has not yet signed.
The city notified more than 1,300 vendors of the leasing opportunity. Forty downloaded the RFP documents, but Thompson Brewing submitted the only proposal when the solicitation closed in February 2025.
Thompson's proposal envisions
...More info on site
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USA, MI: County Seat Brewing Company set to open in downtown Ionia
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A new brewery is set to bring craft beer and revitalization to downtown Ionia, WKAR reported on January 9.
County Seat Brewing Company, co-owned by Logan Bailey and Mark Ludema, will open in a historic Main Street building that has served as everything from a bank to apartments over the past century.
Bailey, a longtime Ionia resident, said the decision to locate the brewery in the city was personal.
"Is it the biggest market? No, of course not," Bailey said. "But this is our town. This is our community, and we want to really view this as a place-making project. We want to be part of Ionia’s growth."
The building at 326-328 West Main Street, a combination of two structures, spans roughly 11,000 square feet. Phase one of the project will include renovating four apartments upstairs to help address the city’s housing shortage and opening a taproom in Ionia’s new social district. Patrons will be able to enjoy drinks on-site and purchase cans, growlers, and kegs to go.
"When you walk into this building, you see its age, you see its character, and we knew this is exactly the ambience we were going for, despite the work that needs to be done," Bailey said. "From
...More info on site
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USA, NC: Gastonia’s Cavendish Brewing Company closes for good
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After about 10 years in business, Gastonia social hub Cavendish Brewing Company has closed effective Jan. 8, the Gaston Gazette reported.
In a message posted to social media, owner Scott Cavendish announced that he is retiring from the beer business and asked the community to bid him farewell at a retirement party held at the brewery, 207 N. Chester St.
While the news seemed to shock commenters, Cavendish said in a Jan. 7 interview that the move is not as sudden as it may seem on the outside.
For quite some time, he said, he has been in discussions with Sugar Creek Brewing Company about selling Cavendish Brewing Company to them.
The brewery’s final day as Cavendish Brewing Company was Jan. 7, and Cavendish said he does not know exactly when it will reopen as Sugar Creek Brewing Company. He does believe it will undergo some renovations.
He added that he believes Sugar Creek will expand the brewery and, "take it places I never could."
Cavendish said Sugar Creek's brewing style matches his own in many ways, and it felt like the best company to buy the building.
As for his own future, Cavendish said he will continue working as an engineer and consultant, and plans to,
...More info on site
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USA, MI: Motor City Brewing Works closing after 31 years in business
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A longtime staple of the Detroit beer scene is closing - for now - after 31 years in the city, ClickOnDetroit reported on January 13.
Motor City Brewing Works, whose flagship brewery location in Midtown opened more than three decades ago, says it will be “taking a break” starting in February.
“Motor City Brewing Works has always been about more than beer. It’s been about art, music, community, and the people who showed up and made it matter. We’re incredibly grateful for every pint, every show, and every memory,” the brewery said in a post on Facebook. “Our taproom will be open through Sunday February 8, featuring a digital montage of historic brewery photos documenting the evolution of Motor City Brewing Works. After that, the taproom will pause.”
The brewery says its been powered by the Detroit thermal system since construction, but their section of the system was shutdown at the end of 2025.
“The Detroit steam powered brewery that helped change the brewing laws in Michigan is off the grid. While beer distribution to our retailers continues via help from our fellow breweries, we are using this space to explore future possibilities for the brand and the brewery as we take a
...More info on site
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World: Heineken CEO steps down as brewer continues to grapple with waning consumer demand
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The boss of Heineken has stepped down from the Dutch brewing giant as it continues to grapple with waning consumer demand and pressure from inflation.
Dolf van den Brink said on January 12 he will leave the company, which also brews Amstel and Birra Moretti, at the end of May after almost six years in charge.
The brewer said the chief executive and chairman “concluded, in consultation with the Supervisory Board, that this is the right time to hand over his responsibilities”.
Mr Van den Brink will then remain at the company in an advisory role for around eight months to support his successor.
The departure comes amid a weak backdrop for the firm, with softer demand for beer and tougher global economic conditions hitting sales in recent months.
In October, the group warned over profits as a result.
Heineken said sales volumes for 2025 were likely to be down on the previous year as shoppers also swallowed price inflation.
Nevertheless, the group saw some brighter performances in the UK, amid strong demand for its Cruzcampo lager and Irish stout brand Murphy’s.
Mr Van den Brink said: “After six years as chief executive and more than 28 years at Heineken, I believe this is the right moment to
...More info on site
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World: Barley crop 2026 forecast to decline by 8.6 mln tonnes from 2025
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RMI Analytics’ look ahead to crop’26 places barley production at 145.2 mln tonnes, a reduction of 8.6 mln tonnes from crop’25. The main driver
...More info on site
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World: Global barley production, trade forecasts up in USDA’s January report
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Global barley trade is forecast to total 30.914 mln tonnes in 2025/26, up from the December forecast of 30.814 mln tonnes and from
...More info on site
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Europe: Decline in spring barley planted area and reversion towards average yields lead to reduced crop forecast
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Seasonally warmer temperatures have given way to colder conditions across parts of western Europe, with the forecast for severe cold weather to spread across
...More info on site
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Argentina: Both malting and feed barley prices strengthen in Argentina
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Prices for both malting and feed barley have strengthened in Argentina as harvest wrapped up, with farmers currently holding back on further selling, RMI
...More info on site
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China: Diageo mulls divesting China assets, sources say
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Diageo plc is considering options for its Chinese assets, including potential divestments, people familiar with the matter said, as the maker of Guinness and
...More info on site
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Jamaica: Wisynco Group opens new US$35-million brewery in Lakes Pen
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The Wisynco Group on January 13 officially opened its new US$35-million brewery and manufacturing facility in Lakes Pen, St Catherine, the Jamaica Gleaner reported.
Chief
...More info on site
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Ireland: Irish drinks sector shows determined resilience in 2025
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Drinks Ireland has welcomed new data that shows that drink exports continue to grow and increased by 2%, to €2 billion, in 2025, despite
...More info on site
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New Zealand: Suntory officially launches multi-beverage business in New Zealand
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Suntory has officially launched its new multi-beverage business in New Zealand – Suntory Oceania – marking a major milestone in the company’s regional growth strategy, The Shout reported on January 12.
Announced in August 2023, the creation of Suntory Oceania reflects the company’s confidence in the growth potential across Australia and New Zealand. With a portfolio spanning premium spirits, RTD (ready-to-drink) alcohol beverages, juice, water, soft drinks, coffee, energy and sports drinks, Suntory Oceania is now the region’s fourth largest multi-beverage group, with responsibility for its end-to-end supply chain on both sides of the Tasman.
Brad Erceg, Chief Commercial Officer – Suntory Beverage & Food Oceania, said the creation of Suntory Oceania reflects the company’s strong belief in the region’s growth opportunity.
“We’re building on a legacy that spans generations in both Japan and New Zealand. This is about combining the best of Suntory with deep local relevance. More than ever before, we have the power to fully leverage Suntory’s global network as we invest in local operations and our people.”
With increased local capability and capacity, Suntory Oceania’s multi-beverage portfolio of more than 40 market-leading brands – including premium Japanese whiskies, Suntory -196 RTD, Jim Beam, Maker’s Mark, Canadian Club, V Energy,
...More info on site
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Ireland: Diageo confirms new drought products price hike
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Diageo has confirmed that it will increase the price of its pints next month, MSN reported on January 13.
A Diageo spokesperson confirmed to The Journal that the cost of their draught products will increase by a further seven cent per pint (excluding VAT) from 2 February.
It’s a move that could push the cost of a pint well over €6 in many parts of the country, and beyond €7 in Dublin pubs.
The latest rise will be the fifth price increase from Diageo in just three years.
Diageo is one of the world’s largest food and drinks companies and owns a significant share of the Irish drinks market, including Guinness, Guinness 0.0, Hop House 13, Carlsberg, Harp, Rockshore and Smithwicks, among others.
The Vintners’ Federation of Ireland (VFI) has strongly criticised the decision, warning that many pubs will have little choice but to pass the increase on to customers.
“Publicans are being hit from all sides, but drink costs are the biggest burden they face,” VFI chief executive Pat Crotty said.
“This latest price increase from Diageo will put even more pressure on pubs that are already operating on extremely tight margins,” he added.
Many will be left with no option but to pass this on to
...More info on site
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Thailand: Thailand Stock Exchange considers removing ban on listing alcoholic beverage companies
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In a bid to boost market liquidity, the Stock Exchange of Thailand (SET) is considering removing a decades-old informal ban on listing alcoholic beverage companies on the domestic market, The Drinks Business reported on January 13.
The purpose of such a policy change would be to modernise the bourse, and reflect Thailand’s status as a global tourism hotspot where alcohol plays a key role.
For decades, the debate as to whether alcohol companies should list on the SET has proved controversial.
Thai Beverage, Thailand’s largest brewer and distiller, has repeatedly faced obstacles in trying to list on the Bangkok stock exchange.
In 2004, the company, owned by liquor tycoon Charoen Sirivadhanabhakdi, first sought to list. However, opposition from anti-alcohol activists and monks meant it abandoned the move, and listed in Singapore instead.
In 2008, the business once again axed plans to list on the Bangkok stock exchange after further protests from campaigners, who argued that such a listing would encourage alcoholism, which would be at odds with Buddhist principles.
On January 13, SET claims that opening the door to alcohol listings could enhance market liquidity, and stop Thai conglomerates from listing on foreign exchanges.
“We urgently need to adjust ourselves before we lose those companies
...More info on site
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Nigeria: Champion Breweries opens share offer assisting African expansion
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Nigeria’s Champion Breweries has opened its NGN42 billion (£22.9 million) public offer of ordinary shares and has taken the next steps in its expansion across Africa following the acquisition of alcoholic RTD brand Bullet, The Drinks Business reported on January 13.
The public offer marks a major step in its two-phase capital-raising strategy and has been priced at NGN16 (£0.01) per share. The move follows regulatory approvals from the Securities and Exchange Commission (SEC) and the Nigerian Exchange Limited (NGX).
Reports reveal that the offer comprises 2.625 billion ordinary shares of 50 kobo each and will run until 21 January with Access Bank named as the receiving bank.
The public offer comes on the back of the company’s recent NGN15.9 billion rights issue to existing shareholders, which has been regarded as “the first phase” of the Nigerian brewing company’s capital mobilisation initiative. Champion Breweries has seen many successes in the past year. For instance, the company posted figures of NGN7 billion (US$4.6 million) in 2023 and then NGN21 billion (US$13.7 million) for 2024 and then also increased profit after tax by 121%.
Each of the funding rounds are set to strengthen the brewery’s balance sheet and have helped to fund the business’s recent acquisition
...More info on site
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Taiwan: Hops, malt tariff exemptions clear legislative floor
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Taiwan’s Legislative Yuan on January 13 passed draft amendments to the Customs Import Tariff that will make malt and hops duty-free to lower costs and boost the competitiveness of Taiwan's domestic beer industry, Focus Taiwan reported.
Under the revisions, the existing 7.5 percent tariff on both roasted and unroasted malt will be eliminated. Tariffs on hops -- whether ground, unground or pelletized, as well as hop extracts -- will also be cut to zero from the current rates of 15 percent and 7.5 percent, respectively.
The Legislature's Finance Committee jointly reviewed the amendments in December 2025 after being proposed by Kuomintang Legislator Lin Szu-ming (林思銘) and several lawmakers from across party lines.
The sponsors said the changes were intended to support local brewers by reducing tariffs on key imported raw materials used in beer production.
Lin and other sponsors said domestic beer brands have long faced pressure from foreign competitors benefiting from lower prices and tariff advantages.
The amendments, they said, were designed to provide tariff relief on malt and hops to help brewers survive and develop over the long term.
According to a written report submitted by the Ministry of Finance, the tariff cuts are expected to result in a loss of NT$74.35 million (US$2.35
...More info on site
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