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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.

Philippines. San Miguel to invest in Duterte’s former backyard

San Miguel is considering more industrial parks, gasoline stations, and feed mills for the island of Mindanao in the southern Philippines, betting on president-elect Rodrigo Duterte's promise to promote economic development outside the capital.

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Duterte became mayor of Mindanao's Davao City 28 years ago, and transformed the country's former "murder capital" into a more business-friendly hub. He is due to become the first Philippine president from the south following a landslide election victory on May 9. One of Duterte's key campaign platforms was shifting to a more federal form of government to promote broader economic development and tackle an entrenched Muslim insurgency in Mindanao state.

"We plan to build at least three more industrial estates in Mindanao, so that local and foreign investors can locate there," San Miguel President Ramon Ang told reporters on Tuesday.

With no definite timetable for the three projects, Ang said they would be patterned after the company's first industrial park in Davao, which is due to partially open in the second half of this year. It covers 2,000 hectares and has a 600-megawatt, coal-fired power plant, a seaport, and an airport. SMC Davao Industrial Estate is registered with the Philippine Economic Zone Authority, which offers tax breaks and other inducements.

Ang said San Miguel plans to lease land on long-term contracts, and that the 600MW power plant required a $1.2 billion investment. The three new parks will each start off with 300MW generating capacity. Duterte has promised to ease restrictions on foreign ownership of local businesses, and ongoing efforts to attract foreign investment should boost energy demand.

Without going into detail, Ang said Petron, San Miguel's oil refining and retailing unit, plans more gasoline stations for Mindanao. Another subsidiary, San Miguel Pure Foods, is looking to build feed mills there.

San Miguel already has a major brewery in Mindanao, making it a major existing investor. Despite being the second biggest island in the Philippines, Mindanao only contributes 13% of San Miguel's consolidated sales, which stood at 159.6 billion pesos ($3.38 billion) in the first quarter, up 1% year on year.

Ang professed himself unfazed by Duterte's announcement on Monday that he would appoint communists to four key agencies, including the labor and environment departments. "Only foreigners are worried," he said.

Expanding a Davao City ordinance, Duterte also said he would impose a nationwide ban on liquor sales after 1 a.m. nationwide, but Ang does not foresee this hurting beer sales. "San Miguel Brewery is a stable business," he said. "People will just drink faster."

Shares of San Miguel rose 1.1% on Tuesday, outperforming the overall index, which grew 0.2%.

18 мая. 2016

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