Berlin, Germany, September 12, 2024 – The German hop harvest for 2024 will reach 48,964 tons, increasing by 19% over 2023. This represents a 55% jump from the 2022 crop, as reported by the German Hop Growers Association. The yield boost reflects not only higher quantity but also better quality than in previous years.
This rise coincides with favorable hop harvests in other major producing countries, adding to the global hop supply. However, the global beer market faces declining sales, and many breweries already hold substantial hop inventories. Despite this, the German hop harvest will likely not affect prices significantly because most of the crop has been pre-sold through fixed-rate contracts.
While oversupply could lower spot prices, the association expects all contracts to be fulfilled this year, unlike previous years with undelivered hops. Increasing stock levels, however, might cause further reductions in hop planting. Hop acreage has already fallen by 25% in the USA and 21% in Australia.
The German hop harvest will contribute significantly to the global supply chain, although oversupply may force industry-wide adjustments moving forward.
