In the current year, the production of Parmigiano Reggiano PDO will grow by 5% overall, up to 3.95 million wheels that is the all time high in the millennial history of the “King of Cheeses”. In 2021, a slight increase in production is expected which will bring the number of wheels to 3.98 million (+ 1% on 2020).
These are some of the numbers made official during the last general assembly of Parmigiano Reggiano PDO Consortium members, during which the budget for 2021 was approved.
INVESTMENTS, INNOVATIONS AND EXPORTS
In 2021 a record 51.8 million euros in total revenues are expected (compared to 38.4 in 2019 and 33.4 in 2018). About 26 million euros will be destined for promotional investments for the development of demand in Italy and abroad. It’s almost 4 million more than 2020.
Exports are among the main levers to support the increase in production. In fact, 9 million euros will be allocated for the development in foreign markets.
Among the upcoming innovations there is the further development of the Parmigiano Reggiano PDO 40 mesi (40 months) Premium Project. The Consortium decided to bring the total budget of this project to 5 million euros. Thanks to the great work done on the brand, in 3-4 years’ time this premium segment will represent 3-4% of total consumption, equal to over 100,000 wheels.
THE RISKS OF A NO-DEAL BREXIT
The UK is the fourth largest foreign market for Parmigiano Reggiano PDO with 6,969 tons imported in 2019. Concern for a possible no-deal Brexit is strong, for several reasons. From the risk of duties to the effects of an additional post-Covid economic crisis, which would impact the spending power of families in the UK.
If Italian F&B products were left without European protection, the sector would also suffer unfair competition throughout the UK from fake Italian products made in non-EU countries. “Another potential risk associated with Brexit is that legislation unfavorable to Italian food exports will be implemented in the UK, such as the ‘traffic light’ nutritional label” – says the president of the Parmigiano Reggiano PDO protection Consortium, Nicola Bertinelli.