Italian parmesan cheese producers will invest €15 million over the next four years on advertising and export promotion activities, the Parmigiano Reggiano Consortium has announced.
From 2017, the consortium will earmark an extra €3.1 million to support recovery in the domestic market, taking investments from €8.8 million to €11.9 million. At the same time, it will add €1.6 million to its investments in overseas development, increasing the total from €4.2 million to €5.8 million.
According to president Alessandro Bezzi, domestic consumption grew by 2.2% in 2015. He added that Parmigiano Reggiano will close 2016 with an estimated growth of 0.3%.
Meanwhile, prices have recovered, rising by €1 per kilogram from July to November, with values of around €9.00/kg for products aged 12 months.
At the same time, exports increased by almost 7% in the first nine months of 2016, and direct sales by dairies (which represent almost 10% of the total) recorded a growth of 14%.
The consortium’s budget for 2017 includes €28.7 million in revenue and €17.8 million in investment to boost sales in Italy and abroad.
Parmigiano Reggiano cheese is produced by 350 dairies and 3,200 farms in Italy.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. To subscribe to ESM: The European Supermarket Magazine, click here.