FOREWORD

The developments in the hop market during the past eighteen months have been nothing short of historic. As quickly as world demand lifted prices to record levels and increased acreage 15%, world economic events swiftly precipitated a decline in demand that now has the hop industry scrambling to reduce acres and find a home for seemingly excess inventory.

The effect on the hop market of the downturn in the world economic climate was exacerbated by more efficient use of hops by brewers as well as further consolidation in the brewing industry.

All of these events have brought new challenges to the hop industry. We look forward to working together to turn these into opportunities for mutual success. We trust that the 2009 edition of Guidelines for Hop Buying is a valuable tool for your decision-making process.

October 2009
S. S. Steiner, Inc.
Simon H. Steiner, Hopfen, GmbH
Steiner Hops Limited