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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.

Philippines’ San Miguel names 8 banks for $633 mln preferred share offer

Feb 11 Philippine conglomerate San Miguel Corp has selected eight banks to help it sell 30 billion pesos ($633 million) worth of preferred shares, a preliminary prospectus released on Thursday showed.

The company has mandated BDO Capital & Investment, China Bank Capital, ING Bank, PNB Capital and Investment, RCBC Capital, SB Capital Investment, Standard Chartered Bank, and United Coconut Planters Bank as lead underwriters and bookrunners.

San Miguel is looking to sell 280 million Series 2 preferred shares with an over-subscription option of up to 120 million shares at 75 pesos each. The timing and dividend rate of the offer have yet to be finalised.

It said proceeds will be principally used to refinance existing U.S. dollar-denominated obligations and for general corporate purposes.

The initial offer is part of an 80 billion peso fundraising plan involving preferred shares to be issued within a three-year period.

San Miguel, which has added power, mining, telecommunications, oil refining and infrastructure to its stable of food, beverage and beer businesses, remains on lookout for potential acquisitions, president Ramon Ang has said.

($1 = 47.4000 Philippine pesos)

11 Feb. 2016



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