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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.

China Resources Beer appoints advisers on SABMiller joint venture

China Resources Beer (Holdings) has chosen banks to advise on options for its Chinese brewery joint venture with SABMiller, people with knowledge of the matter said.

China Resources Beer had picked advisers including HSBC, Nomura, Rothschild and UBS, said the people, who asked not to be identified as the information is private.

The state-backed company has been weighing a purchase of all or part of SABMiller’s 49% stake in China Resources Snow Breweries, maker of the world’s best-selling beer, people with knowledge of the matter said last month.

Anheuser-Busch InBev may need to sell the stake in the brewer of Snow lager to secure Chinese antitrust approval for its $109bn acquisition of SABMiller, which will create a beer maker controlling about half the industry’s profits.

SABMiller’s stake in the Chinese venture could fetch as much as $3.6bn, Nomura wrote in a November 16 research report.

Frank Lai, China Resources Beer’s chief financial officer, declined to comment. Spokesmen for HSBC, Nomura and UBS declined to comment, while a representative for Rothschild did not immediately respond to an e-mail seeking comment.

China Resources was seen as the logical buyer if AB InBev decides to sell, as it has a right of first refusal, people with knowledge of the matter said last month.

AB InBev had not yet decided whether it would sell the stake, and China Resources was not set on any particular course of action, the people said at the time.

Beer sales in China will expand 41% in the five years to end-2019 to reach $105bn, according to a June report from research firm Euromonitor.

SABMiller said its Chinese beverage volumes declined 3% in the first half of its fiscal year due to crimped consumer spending, even as China Resources Snow outperformed the market.

Snow beer, which had a 23% market share in China last year, outsells all other beers globally, Euromonitor data show.

The partnership between SABMiller and China Resources, which began with two breweries in 1994, operates more than 90 breweries across China and employs more than 59,000 staff, according to SABMiller’s website.

21 Дек. 2015

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