In 2021, the turnover of the Parmigiano Reggiano PDO sector reached yet another all-time high. Consumer turnover reached 2.7 billion euros, compared to 2.35 billion in 2020 (+8.2% compared to 2019), as the value generated at production reached 1.71 billion. Record levels also for production, which grew by +3.9% overall compared to 2020, for a total of 4.09 million wheels (equal to about 163 thousand tons). “This is the highest level in the history of Parmigiano Reggiano PDO,” says the protection Consortium, which is determined to focus increasingly on foreign markets.
According to Consortium data, in 2021 export sales amounted to 45% of total sales (+2.9% growth in volume compared to 2020, almost entirely due to the non-EU markets). The USA is the top market (21% of total exports), followed by France (19%), Germany (17%), the UK (11%), and Canada (5%).
Parmigiano Reggiano PDO export sales by country (2021)
|COUNTRY||SHARE ON TOTAL SALES||% VAR: 2020/2021|
|Other EU countries||9%||+16.8%|
|Other non-EU countries||4%||+15.1%|
In the most important markets, the best sales performances compared to 2020 were recorded in the USA (+10.4%), France (+4.5%), and Canada (+5.5%). Most European markets also grew, especially Switzerland (+14.7%), and Sweden (+13.2%). Parmigiano Reggiano PDO loses ground in the UK (-15.6%) due to Brexit, and in Germany (-1.9% after significant growth compared to 2019).
In Italy, which accounts for 55% of total turnover, consumption has increased +4.5% compared to pre-pandemic levels.
“Our supply chain countered the Covid shockwave. Moreover, in 2021 managed to expand consumption and find stability in prices,” says Nicola Bertinelli, president of the Parmigiano Reggiano PDO Consortium. “Now that we are coming out of this situation, we will have to cope with a market that could be affected by excess supply, following a production increase driven by prices and demand. The marketing plan and the new production plans are the two main tools with which we are preparing to face these short and medium-term challenges”.
As far as market quotations are concerned, the situation is positive and stable. According to data by Parma Commodity Exchange, the annual average was 10.34 euros per kilo (for Parmigiano Reggiano 12 months from the dairy producer), with price fluctuations contained between 10.25 €/kg and 10.40 €/kg. In 2020, the average had been 8.57 €/kg, and in 2019, before the start of the pandemic, 10.76 €/kg.