FOREWORD

The hops and brewing industries have just completed an astounding twelve months. The 2007 hop crop was the third in a row that did not produce the alpha that was required for the coming brewing year. Consequently, hop inventories in all market areas are at historically low levels. Prices for available hops reached record levels, and the spring of 2008 witnessed an acreage increase in USA that had not been seen for over thirty years. It should be noted that during these challenging times the hops and brewing industries were able to work together to find solutions to the supply crisis by finding alternative varieties and products to meet each user’s requirements.

In addition, during the past twelve months there has been an unprecedented rush to consolidation in the brewing industry. While it is possible to speculate on the effects of these moves upon the hop market, only time will tell how the changes in the brewery landscape will affect the producers and processors of hops.

The 2008 edition of Guidelines for Hop Buying presents relevant and current hop market data for these challenging times. We will continue to report as developments occur, and, as always, look forward to working with you in the months and years to come.

October 2008
S. S. Steiner, Inc.