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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.

Singapore. TCC Extends Deadline for Fraser & Neave to Jan 2

Thai billionaire Charoen Sirivadhanabhakdi Tuesday extended again the deadline for his US$7.2 billion offer for Singapore's Fraser & Neave Ltd. (F99.SG), which has been trumped by a bid from one of Indonesia's richest families.

Mr. Charoen's offer of 8.88 Singapore dollars (US$7.27) for each Fraser & Neave share that he doesn't already own, made through his unlisted investment vehicle TCC Assets, will now close on Jan. 2, TCC said in a filing to the Singapore Exchange. The offer price remains the same.

The offer, which was first made in September, was to have closed Tuesday and this extension is the fourth time that TCC has pushed back the deadline.

Mr. Charoen currently owns about 35% of Fraser & Neave, a real-estate and soft-drinks company.

Last month, Overseas Union Enterprise Ltd. (LJ3.SG), owned by Indonesia's Riady family, made a S$9.08 per share bid for Fraser & Neave, raising the specter of a bidding war. The US$10.6 billion offer led by OUE, a Singapore-based property developer, expires Jan. 3.

A sleepy Singaporean conglomerate with 129 years of operations, Fraser & Neave came into play in July, when Mr. Charoen started building up his stake in the conglomerate. That prompted Heineken, which had an 80-year-old partnership with Fraser & Neave in brewing Tiger beer, to make a bid for the Singapore company's beer assets, which were eventually sold to the Dutch brewing giant.

11 Dec. 2012

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