Hop on! The craft beer industry and US hops harvest under perspective
Market & Price Trends
Published Jul 28, 2020
Washington, Oregon, and Idaho hops forecast are estimated at a record high of 59,174 acres, 5% above last year’s previous crop of 56,544 acres. Citra, Columbus/Tomahawk/Zeus, Mosaic, Simcoe and Cascade are the most prominent top strung varieties for this campaign. Beer production is ‘not expected to be heavily impacted’ USDA had said. US industry accounts for +200 regional breweries and over 2,000 microbreweries all across the country that may be redirecting product into grocery stores more often.
As a counterpoint in Q1 beer production in China for example was down 20% as a result of COVID-19 but the government support for street vendors and evening dining establishments is expected to bring about a sharp return to beer consumption. If realized, a flat 2020 in China will have a material impact on the global picture.