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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.

Foster’s CEO Says SABMiller Offer Was “So Far From Reality”

The 9.6 billion Australian dollar ($10.54 billion) indicative bid Foster's Group Ltd. (FGL.AU) received last month from rival brewer SABMiller PLC (SAB.JO) was pitched at a level where it wasn't worth entering negotiations, the chief executive of the Australian company said Friday.

"The value (of the bid) was so far from reality, it wasn't worth engaging," John Pollaers told a business lunch in Melbourne, adding: "I'm not saying we would never engage."

Pollaers, who has led the brewer since May, said the company has launched a number of initiatives aimed at unlocking Foster's performance and which will reward shareholders.

SABMiller in June made an unsolicited cash bid for Foster's at A$4.90 a share, which the Melbourne company rejected as significantly undervaluing it. Graham Mackay, chief executive of the London-based company, at the time said his company would continue to seek talks with Foster's.

Foster's is the leading beer maker in Australia, with seven of the top 10 brands and a national distribution network that SABMiller would be able to sell its portfolio of international brands that includes Grolsch, Peroni Nastro Azzurro and Miller Genuine Draft.

In May, Foster's divested and listed its Treasury Wine Estates Ltd. (TWE.AU) wine business.

Pollaers said there has been no engagement with SABMiller since the approach was made. "Since then, it has been business as usual," he said.

2 Aug. 2011

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