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4-2017

Global hop market

A local alternative to mass beer suggested by independent brewers has been successful and is now altering the global market. Beer is becoming more diversified, so transnational companies have to accept the new game rules and to switch focus to young and fast growing markets. All these processes increased the demand for aroma and bitter hop as well as their acreage expansion on two continents. However now there appeared a downward trend of alcohol consumption in the world, so even special sorts can soon turn to be sufficient. In this connection the dynamic American hop market is already facing some problems. EU hop producers have become more cautious, they are not racing to exceed the demand and look forward with more confidence, judging by the contract terms. 

Hop Market in Russia

Germany still dominates the Russian market, yet over the recent two years one has been able observe a continuous success of Czech hop suppliers. Their expansion and growing popularity of hops from the United States became the drivers of supplies growth in 2016 despite the preceding modest harvest crop in the EU, as well as the factor of relative stability in 2017. In this connection, in 2017, the ratio of the varieties continued to shift towards the aroma ones, and the supplies of Magnum hop and other alpha varieties were reduced. However, the import of bitter hop pellets is partially replaced by extracts, especially from the major beer manufacturers. Total volumes of alpha acid supplies, according to our estimation, decreased by approximately 5% and returned to the level of 2015. Barth Haas Group continues dominating the hop products market; HVG also increased its weight. At the same time, Morris Hanbury significantly reduced the supplies in 2017.

Heineken Proposes Terms on 2 Billion-Euro Loan Refinancing

Heineken NV, the world’s third- largest brewer, proposed terms on a credit line to refinance a 2 billion-euro ($2.8 billion) facility maturing next year, according to three people with knowledge of the situation.
Heineken is seeking to pay 42.5 basis points over the euro interbank offered rate on money it draws from the five-year revolving credit with two one-year extension options, said the people, who declined to be identified because the negotiations are private. Money in a revolving credit can be borrowed again once it’s been repaid. A basis point is 0.01 percentage point.
The Amsterdam-based company plans to replace the loan signed in 2003 with a similar-sized transaction, Heineken spokesman John-Paul Schuirink said today by telephone. He declined to comment on the terms of the new deal.
Heineken’s existing credit line pays lenders an interest margin of 170 basis points on drawn funds, according to data compiled by Bloomberg. The loan was priced with an initial margin of 225 basis points by arrangers Barclays Capital, JPMorgan Chase & Co., Credit Suisse Group AG and Citigroup Inc.

16 Mar. 2011

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