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E-Malt.com Newsletter 47b November 20 - November 23, 2025
Quote of the Week
What we fear of doing most is usually what we most need to do.
Ralph Stripey Guy Emerson

Currency Rates
Base Currency: US Dollar on November 21, 2025 |
Base Currency: Canadian Dollar on November 21, 2025 |
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1 USD = 0.8676 EUR
1 USD = 0.7651 GBP
1 USD = 1.4069 CAD
1 USD = 1.5452 AUD
1 USD = 157.4440 JPY
1 USD = 5.3302 BRL
1 USD = 80.3013 RUB
1 USD = 7.1088 CNY
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1 CAD = 0.7107 USD
1 CAD = 0.5437 GBP
1 CAD = 0.6166 EUR
1 CAD = 1.0982 AUD
1 CAD = 111.8960 JPY
1 CAD = 3.7882 BRL
1 CAD = 57.0706 RUB
1 CAD = 5.0523 CNY
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Currency Rates Chart

Equities of the Largest Breweries
Canada: Barley crop forecast unchanged at 9 mln tonnes
...Click here
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Canada, AB: Good Cheer Brewing coming to Calgary soon
...Click here
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USA, WI: Brewed Omen Brewpub celebrates its grand opening in Hartford
...Click here
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USA, MN: Invictus Brewing set to close its doors on December 20
...Click here
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USA, CO: Sanitas Brewing Company to close the doors of all its three locations
...Click here
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USA, OH: Bookhouse Brewing to close for good at the end of the year
...Click here
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Germany: Oettinger Brauerei confirms closure of Braunschweig brewery
...Click here
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World: Barley crop forecast up by further 0.9 mln tonnes
...Click here
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EU: Winter barley seeding mostly complete and crop 2025 is seen to be off to a good early start
...Click here
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South Korea: Lotte Chilsung Beverage reports strong performance in Q3 2025
...Click here
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UK: Scotland’s malting barley industry grappling with a fresh wave of uncertainty
...Click here
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EU: Feed barley prices matching or surpassing milling wheat
...Click here
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Japan: Asahi aims for full system recovery in February
...Click here
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India: United Breweries completes registration of lease deed for new brewery in Uttar Pradesh
...Click here
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Nigeria: Guinness Nigeria strengthens distribution network in Northern Nigeria
...Click here
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Graph of the Week
Table of the Week
Latin America Beer Production by Country 2018 - 2024(s)
Prices Evolution
Barley Prices
Theoretical Malt Prices
These Days in Business History
20 November
1923 - Garrett Morgan invents & patents traffic signal
1959 - U.N. adopts Universal Declaration of Children's Rights
1984 - McDonald's made its 50 billionth hamburger
1985 - Microsoft Windows 1.0 is released
21 November
1877 - Tom Edison announces his "talking machine" invention (phonograph)
1930 - 1st commercial crossing of Pacific by plane (China Clipper)
1977 - 1st flight of Concorde, London to New York
22 November
1906 - International Radio Telecommunications Com adopts "SOS" as new call for help
1927 - 1st snowmobile patent granted to Carl Eliason (Sayner Wisc)
1954 - Humane Society forms
2005 - Angela Merkel becomes the first female Chancellor of Germany
23 November
1863 - Patent granted for a process of making color photographs
1936 - 1st issue of Life, picture magazine created by Henry R Luce
1992 - 10,000,000 cellular telephone sold
Agenda
December 2025:
03 - 05: Drink Japan 2025 (Makuhari Messe, Japan)
February 2026:
05 - 06: Glug Swiss 2026 (Alte Reithalle, Aarau, Switzerland)
13 - 16: HoReCa 2026 (Athens, Greece)
15 - 17: BBTech Expo 2026 (Rimini, Italy)
27 - 01 March: Finest Spirits 2026 (Munich, Germany)
March 2026:
04 - 07: Festival Brasileiro da Cerveja 2026 (Blumenau, Brazil)
18 - 19: BeerX 2026 (Liverpool, UK)
24 - 26: RMI Global Conference 2026 (Lisbon, Portugal)
April 2026:
07 - 09: Craft Beer China 2026 (Shanghai, China)
16 - 18: KIBEX 2026 (Seoul, South Korea)
20 - 22 May: Craft Brewers Conference & BrewExpo America 2026 (Philadelphia, USA)
May 2026:
04 - 07: Worldwide Distilled Spirits Conference 2026 (Edinburgh, UK)
04 - 07: Worldwide Distilled Spirits Conference 2026 (EICC, Edinburgh, Scotland, UK)
29 - 30: Tallinn Craft Beer Weekend 2026 (Tallinn, Estonia)
June 2026:
09 - 11: Brasil Brau 2026 (Sao Paulo, Brazil)
November 2026:
10 - 12: Brau Beviale 2026 (Nuremberg, Germany)
News Articles
Canada: Barley crop forecast unchanged at 9 mln tonnes
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The forecast for Canada’s barley crop’25 is unchanged at 9.0 mln tonnes, an increase of 0.9 mln tonnes over crop’24, RMI Analytics said in
...More info on site
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Canada, AB: Good Cheer Brewing coming to Calgary soon
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Calgary is getting a brand-new brewery, and it’s all about connecting to the past, the Daily Hive reported on November 13.
Good Cheer Brewing, which is set to open in a 122-year-old Ramsay building, is touted as North America’s only brewery that’s dedicated to recreating historical beers.
The spot aims to blend a traditional Victorian pub with elements of the Canadian frontier, offering beers that have been inspired by centuries of brewing, as well as cocktails from throughout history.
Alongside its beers inspired by recipes throughout history, Good Cheer shared that its decor will also be in theme, having accessed reclaimed oak from the mansion of the original CP Rail president, located in Mount Royal. The ceiling from the mansion has been used to create its tables, and the fireplace mantle has been used to frame its taps.
Chairs from the 1800s and 1900s have also been restored for the space, as well as decor from the Victorian era to bring the vision to life.
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USA, WI: Brewed Omen Brewpub celebrates its grand opening in Hartford
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Brewed Omen Brewpub, formerly Brewed Omen Tasting Room, 120 N. Main St., celebrated its grand opening on Sunday, November 16, as Hartford’s wait to once again have its own brewery has ended at 32,317 days.
Brewed Omen first opened as a tap room offering local and regional beers on tap, along with cocktails and food in September of 2022, during the New Kids on the Block Party in downtown Hartford.
According to co-owner Bill Ohm, Hartford had created a downtown comprehensive plan in 2015 that was adopted in 2016, part of which was to revitalize the Millstream Building, which now houses Brewed Omen.
"This building was the number two priority on that," Ohm said.
"They published a report that there should be a brewpub in this building," said Ane Ohm, Bill’s wife and Brewed Omen co-owner. "So, we agreed. We saw this, and we agreed, and we looked around for people to do this."
According to Ane, after looking for someone to step up and lead the charge, it eventually fell to both Ane and Bill to do so.
"So, here we are, but we could not have done it without Kyle (Sikora) and Kyle’s skill with brewing," said Ane.
Sikora serves as Brewed Omen’s brewmaster, which
...More info on site
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USA, MN: Invictus Brewing set to close its doors on December 20
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Invictus in Blaine is the latest Minnesota brewery set to close its doors, CBS News reported on November 20.
Over the past couple of years, a number of breweries across the state have announced closures.
Since Invictus Brewing opened in 2018, they've taken pride in their creativity.
It was the dream of Previn Solberg and his business partner.
"He and I started home brewing in his garage, and we just got to thinking Blaine needs a brewery, so we started a brewery," said Solberg.
They were part of the craft beer boom in Minnesota in the 2010s, which saw nearly 250 breweries open in the state. But within the past couple years, breweries in Minneapolis, St. Paul, Chanhassen, Coon Rapids and a number of other cities have closed. In December, Invictus will join that list.
"It became pretty clear that we weren't really going to be involved with the redevelopment that was going on, so we just saw the writing on the wall that maybe it was time for us to exit," said Solberg.
Solberg said in some ways they got lucky, as a developer is buying them out. But when he looked to relocate, real estate costs were too high.
"That's the main reason why we aren't
...More info on site
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USA, CO: Sanitas Brewing Company to close the doors of all its three locations
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A brewery with locations in Englewood, Boulder and Lafayette is set to close its doors to all three locations before the end of the year due to rising operational costs, kdvr.com reported on November 21.
Sanitas Brewing Company made the announcement on November 14 in a post on Facebook, inviting customers to celebrate over a decade of brewing before the tentative closing date of Dec. 20.
The company said in a press release that it has faced challenges that many in the craft beer industry and general economy face, and it explored options but ultimately decided to close the company aligning with what is best for the company and its people.
Sanitas has served as a gathering place for coworkers, friends, families and four-legged friends, and has hosted numerous events and celebrations over the years. Their beer has won many awards, been served on tap at hundreds of bars and has even made it internationally with thousands of cases shipped to Sweden more than once.
The brewery said it wanted to be a third space for the community when it first opened in 2023, and the company feels it has achieved and surpassed that goal.
The Englewood and Boulder locations both shared a space with
...More info on site
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USA, OH: Bookhouse Brewing to close for good at the end of the year
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It’s the last chapter for Bookhouse Brewing, Fox8.com reported on November 20.
The Ohio City brewery announced it was closing its doors at the end of the year after “a significant decrease in revenue in 2025.”
They’re going to celebrate their final weeks at the location.
“Join us, won’t you, to enjoy a pint and a hearty handshake, a celebration of all that we’ve accomplished, an occasion to gather with family and friends,” Bookhouse wrote in a post.
The business opened in 2018.
“We are so overwhelmed with gratitude for your patronage and encouragement through these hard post-pandemic years.”
Still to come, beer releases for 2025: Modern Craft Pils, Celestial Spirit IPA, and Whoops! Lil Juicy NEIPA.
“We have already brewed our final batches, and these new releases will be out in the remaining weeks of November,” Bookhouse shared.
Their last day of business is set for December 31.
“Please know that though it is always hard to say goodbye, our intention is to do so with all the love and joy that appreciation for community and culture engender.”
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Germany: Oettinger Brauerei confirms closure of Braunschweig brewery
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The iconic Oettinger Brauerei has confirmed that it will permanently close its production facility in Braunschweig (Lower Saxony) by the end of 2025 —
...More info on site
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World: Barley crop forecast up by further 0.9 mln tonnes
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RMI Analytics’ latest global barley production forecast is up by 0.9 mln tonnes, to a total of 151.4 mln.
The increase comes from Australia
...More info on site
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EU: Winter barley seeding mostly complete and crop 2025 is seen to be off to a good early start
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Winter barley seeding is mostly complete across western Europe under generally dry, and warmer conditions. Better than the previous two crop years, crop’25 is
...More info on site
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South Korea: Lotte Chilsung Beverage reports strong performance in Q3 2025
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Lotte Chilsung Beverage's performance in the third quarter of this year was strong. This is the result of increased sales of products related to health flair trend and overseas sales, Maeil Business Newspaper reported.
Lotte Chilsung Beverage announced on the 6th of November that its operating profit in the third quarter of this year was 91.8 billion won on a consolidated basis, up 16.6% year-on-year. Sales rose 1.3 percent to 1.792 trillion won and net profit rose 39.3 percent to 62 billion won, respectively.
The beverage division's separate sales fell 0.1% to 538.4 billion won in the third quarter, while operating profit rose 4.3% to 55.1 billion won.
For the beverage business in the third quarter, sales in the juice, bottled water and sports drinks categories fell. The company explained that the burden of raw material costs such as fruits and coffee concentrates increased amid the continued slump in domestic consumption, and continued high exchange rates and business expenses continued.
Soda sales slightly increased by 0.3% year-on-year as it launched new marketing with the concept of "Zero Delicious Zero" centered on "Zero" in line with the Healthy Pleasure trend.
Energy Beverages saw year-over-year sales rise 23.5% in the third quarter. Lotte Chilsung explained that it
...More info on site
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UK: Scotland’s malting barley industry grappling with a fresh wave of uncertainty
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Scotland’s malting barley industry is grappling with a fresh wave of uncertainty as major processors move to shrink operations in response to falling demand, rising costs and a turbulent year for growers, The Scottish Farmer reported on November 21.
Despite Scotland producing more than two million tonnes of barley this season, many farmers found themselves unable to access the malting market after quality issues, particularly high nitrogen levels and poor screenings, left a significant proportion of the crop outside specification. What was expected to be a strong harvest has instead become a difficult one to place.
That pressure has been compounded by a slowdown in orders from maltsters, and signs are emerging that the sector may be entering a period of restructuring.
Bairds Malt has confirmed it will shut its Pencaitland plant early next year, a move that will result in 19 redundancies. A company spokesperson described the decision as part of the firm’s long-term operational planning.
Simpsons Malt, meanwhile, is seeking voluntary redundancies across its two maltings and six grain storage sites as it targets £3 million in cost reductions.
Managing director Tim McCreath highlighted the wider backdrop: “Over the past 12 months, the downturn of the distilling industry has been well-documented, while the
...More info on site
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EU: Feed barley prices matching or surpassing milling wheat
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Prices for animal-feed barley in Europe are matching or surpassing milling wheat, an unusual trend driven by strong export demand and tight supply, traders said.
Feed barley, which represents most of the market for barley, typically trades at a steep discount to bread wheat.
Its overall price is lower than last year, against the background of a heavily supplied grain sector. But its relative strength against wheat has brought higher-than-expected costs for buyers, particularly in North Africa and the Middle East.
Despite a larger European Union harvest this year, availability of barley has shrunk due to brisk French shipments to China, slow farmer selling elsewhere, and Turkey’s switch from exporter to importer after a poor crop.
Traders said west EU and Baltic feed barley prices were around the same as wheat at between US$221 and $226 a tonne FOB for December loading. Black Sea barley prices were higher with Russian and Ukrainian at around $227-$229 a tonne FOB.
France has already shipped half its projected non-EU barley exports for 2025/26, including nearly 900,000 tonnes to China, and is still loading for Saudi Arabia, LSEG data shows.
With French farmers largely sold out, export premiums have risen above wheat, traders said. Black Sea supplies are also dwindling,
...More info on site
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Japan: Asahi aims for full system recovery in February
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Asahi Group Holdings Ltd. has told business partners that it aims to fully recover as early as February from a system failure that disrupted shipments of beer and other products, it was learned on November 21.
The company plans to hold a press conference on Thursday to explain its system recovery plan and the results of its probe into the system failure, which was caused by a ransomware attack on Sept. 29.
At the press conference, Asahi Group President Atsushi Katsuki will speak about the system failure in public for the first time.
The system failure forced the beverage group to halt production and shipments of beer and other goods at most of its domestic plants. The group is still processing orders manually.
Meanwhile, other makers in the industry have been struggling to keep up with demand for substitute items to replace Asahi products. Some have canceled sales of year-end gift beer sets.
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India: United Breweries completes registration of lease deed for new brewery in Uttar Pradesh
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United Breweries Ltd (UBL), part of the Heineken Company, announced on November 21 that it has completed the registration of the lease deed for a greenfield brewery in Uttar Pradesh, backed by an investment of Rs 750 crore, according to the company filing on exchanges.
The development plot has been allotted by the Uttar Pradesh Expressways Industrial Development Authority (UPEIDA) in the Unnao district. The brewery is expected to become operational by Q2 FY27. In its first phase, the new greenfield facility will have a proposed capacity of 1.3 million hectolitres (mhl), with a packaging mix of 70 per cent cans and 30 per cent bottles, and is designed with built-in flexibility for future expansion.
This expansion will be financed through debt and equity, it said in its exchange filing.
“As part of our commitment to shaping the future of the beer industry, this strategic investment in Uttar Pradesh will enable us to unlock long-term growth. UP is a high-potential market, driven by its massive population, rapid urbanisation and strong government focus on infrastructure development,” said a spokesperson at UBL.
“From a beer industry perspective, the state offers a significant opportunity with low per capita beer consumption, ample room for premiumisation
...More info on site
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Nigeria: Guinness Nigeria strengthens distribution network in Northern Nigeria
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Guinness Nigeria Plc has significantly strengthened its distribution network across several states in Northern Nigeria, a strategic move following the divestment of its former majority shareholder, British drinks giant Diageo, Naijapreneur.com reported on November 19.
Girish Sharma, Guinness Nigeria’s Managing Director and Chief Executive Officer, confirmed the successful expansion in an exclusive interview in Abuja, highlighting a renewed focus on market penetration under the company’s new strategic direction.
The expansion comes on the heels of the landmark transition in ownership, which saw Diageo complete the sale of its 58.02% controlling stake in Guinness Nigeria to the Singapore-headquartered conglomerate, Tolaram, in late 2024. The sale marked a fundamental shift in the company’s operating model. While Diageo retains ownership of the iconic brand and licenses production to Guinness Nigeria under a long-term agreement, Tolaram has taken the reins of local manufacturing, marketing, and distribution.
Guinness Nigeria’s aggressive push into the Northern states is largely seen as an immediate synergy resulting from the Tolaram acquisition. Tolaram is a dominant force in the Fast-Moving Consumer Goods (FMCG) sector in Nigeria, possessing one of the most extensive and sophisticated distribution networks in West Africa through its subsidiary, Multipro.
By leveraging Tolaram’s deep operational expertise and established supply chains, Guinness
...More info on site
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India: Diageo joins Indian Malt Whisky Association
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Diageo India, the country's leading player in the alcobev segment, has joined the Indian Malt Whisky Association (IMWA), which is an alliance of India's malt whisky producers, Rediff Money reported on November 20.
Joining of Diageo India (United Spritis Ltd), which owns home-grown single malt brand Godawan, will strengthen the future of Indian Single Malt Whisky, which in the past year has been acclaimed globally with award-wining premium whisky, a statement said.
IMWA is working for developing rigorous quality and process guidelines to ensure authenticity, transparency, and excellence in Indian Single Malt and Pure/Vatted Malt whiskies.
The standards emphasise production using 100 per cent malted barley at a single distillery, using copper pot still distillation, and a minimum three-year maturation in oak barrels of capacity less than 700 litres within India.
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