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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 N.V. assigned solid investment grade credit ratings by Moody’s and S&P

Heineken N.V. today announced that it has been assigned solid investment grade credit ratings by the world’s two leading credit agencies, Moody’s Investor Service and Standard & Poor’s. Both long-term credit ratings, Baa1 and BBB+, respectively, have ‘stable’ outlooks and reflect HEINEKEN’s excellent geographic spread of profits and cash flows, its leading positions in beer markets across the world and its well-balanced growth strategy.

The public credit ratings announced today, the first in the company’s almost 150-year history, provide HEINEKEN with continuous access to a wide range of funding sources and will facilitate and further enhance its already successful track record in the financial markets. These ratings will be assigned to HEINEKEN’s European Medium Term Note (EMTN) Programme that will be published on the website of the Luxembourg Commission de Surveillance du Secteur Financier (CSSF), once the annual update has been completed.

Ren? Hooft Graafland, HEINEKEN Executive Board member and CFO, commented “the award of these credit ratings underlines our commitment to transparency and diversification of our funding sources.”

“The credit rating agencies have recognised the strength of Heineken® and our other brands, our geographic diversity, our leading profitable market positions and strong cash flow generation. These have all been instrumental in securing these solid investment grade ratings today. In addition, our sound financial policies and conservative approach towards managing liquidity and funding continue to support a strong capital structure in the long-term,” Hooft Graafland concluded.

7 Mar. 2012

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