Production and turnover volumes have grown considerably in all the countries where Balsamic Vinegar of Modena PGI is present. The production level in 2019 has in fact reached almost 96 million certified liters, marking a +6% growth compared to 2018. This brings the estimated value of turnover at production at over 390 million euros, and consumption close to one billion euros.
The first months of 2020 confirmed the positive trend of Balsamic Vinegar of Modena PGI, until the pandemic came along. In fact this product – which comes in first place considering the Italian agri-food industry export quota – was not immune to the effects caused by the health emergency induced by coronavirus.
THE BALSAMIC VINEGAR OF MODENA PGI SYSTEM DOES NOT STOP
“Like a large part of the Italian agri-food sector – explains Federico Desimoni, director of the Balsamic Vinegar of Modena PGI protection Consortium – the balsamic vinegar sector has not stopped, and the companies have been able to operate, albeit in complex and worrying conditions, complying with market demands. The constant sales have supported the general trend of the sector. However, an important segment of the market such as the horeca and the out-of-home consumption have suffered a total blockage all over the world with very heavy consequences for a large number of companies”.
Exports have played an essential role in Italy’s ‘red gold’ good performances in 2019 and in the first quarter of 2020. The product is exported to over 120 countries around the world, starting with the United States, Germany, France but also the Far East markets, with Japan and South Korea leading the way.
A NON-PERISHABLE PRODUCT
Meanwhile, the product that is not marketed remains to mature in the barrels. In this regard, economic support shall be granted by the Italian government to those who decide to extend the aging and refinement phase of their balsamic vinegar stocks.