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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.

India. United Breweries down over 2% on Vijay Mallya exit talks

Shares of United Breweries Ltd fell by over 2% today amid intense speculation that its Chairman Vijay Mallya may have to step down soon and sell his shares due to tightening of noose by markets regulator Sebi.

Mallya-led UB Group is already being probed by Sebi for suspected violation of various securities markets regulations including about disclosure and related party transactions, while a 'wilful defaulter' tag has made it difficult for the beleaguered businessman to continue on boards of listed firms.

The shares of United Breweries Ltd, where the UB Group no more has majority stake but remains a co-promoter along with global giant Heineken group, slumped 2.11% to settle at Rs 745.35 on BSE.

Intra-day, it slipped as much as 2.67% to Rs 741, as market was rife with speculation that a board meeting could be held soon where Mallya would be asked to leave.

On NSE, it fell by 2.44% to close at Rs 743.45.

Mallya, who is said to be in London while arrest warrants have been issued for him back home, is said to have attended the last board meeting of the company through video- conferencing after which some directors of the company said they have full faith in him.

This may not have gone well with the regulator and other enforcement agencies, as rules do not allow a person classified by banks as a 'wilful defaulter' under RBI norms to continue on the board of any listed company.

Surprisingly, shares of another listed company of UB Group, United Breweries (Holdings) Ltd, rose by 4.46% to Rs 22.25 on BSE, even as the company today disclosed an attachment notice issued by Enforcement Directorate and said it is seeking legal advice to take appropriate steps.

Various listed firms of the Group have in the past been found to have violated listing and disclosure regulations of Sebi, while the regulator is also probing the group for other violations including for related party transactions and alleged diversion of funds for undue benefit to the promoters.

Besides, the Sebi norms do not permit wilful defaulters to hold board positions at listed companies.

Mallya recently resigned as Chairman and Director of United Spirits, after striking a sweetheart deal with Diageo, the new contolling owner of the erstwhile flagship company of his group.

17 Июн. 2016

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