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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.

UK. Pub chains: January better than expected

The Coffer Peach Business Tracker, which monitors sales performance across 18 major pub and restaurant operators, including Mitchells & Butlers, Whitbread, Pizza Hut, Punch Pub Co, Gondola and Tragus, reported like-for-like sales up 10.7% in January on last year. Total sales, including new openings, were up 11.4%.
However, last January was, itself, hit by snowy weather and remains a slow month with like-for-like sales over the four weeks in January down 28.5% compared to December.
”The positive news this past month will be tempered by the fact that January last year was itself badly affected by snow with like-for-like sales then down 5% on 2009,” said Peach Factory’s Peter Martin.
“However, the double-digit recovery this year more than compensates for that and will encourage operators into hoping that this performance may be more than just a readjustment.”

VAT rise
Jonathan Leinster, head of European leisure and tobacco research, at UBS Investment Bank, said that it appeared that the rise in VAT was a non-event for the eating-out sector. “We believe that most operators increased food prices with their autumn menus so only drinks prices would have appeared to customers to been affected by the VAT rise,” he said.
“Some of this month’s rise is a catch-up from a year ago and promotions would have been more effective this January when customers were snow-bound a year ago. On a two year basis, the compound annual growth in like-for-like sales has been 2.5% for January.”
“Most of like-for-like growth in the last two years has been about price/mix in our opinion, but volume is beginning to stabilise. If the contributors to the Coffer Peach Business Tracker experienced price rises in line with Restaurant RPI less changes in VAT, then volume excluding snowy months, fell 0.5% in 2010 compared to 2.4% in 2009.
“Many operators have talked about customers trading up the menu in 2010, or adding starters or desserts to their main meal, rather than increased footfall.”

14 Фев. 2011

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