Parmigiano Reggiano exports to GCC countries grow by 11.2 %

Parmigiano Reggiano exports to GCC countries grow by 11.2 %

PARMIGIANO REGGIANO CONSORTIUM ANNOUNCES FAVOURABLE GLOBAL RESULTS FOR THE FIRST NINE MONTHS OF 2022: +2.9% SALES AND +1.3% EXPORTS

  • The Consortium approves the change to its articles of association forbidding member dairies to produce similar cheese competing with Parmigiano Reggiano
  • The Parmigiano Reggiano Consortium consolidates its position in international markets with +11.2% growth in GCC countries, +8.2% in the USA, +7.2% in France and + 12.4% in Spain.

Dubai, UAE; October 24, 2022–Parmigiano Reggiano Consortium presented the financial data of the first nine months of 2022 (January – September 2022) at the recently held general meeting of its members. After a successful 2021, with a total global consumer turnover of 2.7 billion euros, in 2022 the Consortium recorded a 2.9% increase of total sales (95,079 vs 92,366 tons) vs the first three quarters of 2021, with a volume increase also in international markets that grew by 1.3% (43,887 vs 43,331 tons).

The growth shows that the member dairies of the Parmigiano Reggiano Consortium overcame the challenges of the pandemic, the uncertainties of the geopolitical crisis triggered by the Russian invasion, the energy cost rises and the reduction of the purchasing power of families in certain markets. 

Parmigiano Reggiano recorded an impressive 11.2% growth in its exports to the GCC countries with 118 tonnes exported to the region in 2022 compared to 106 tonnes in 2021.

Sales increased in the Italian domestic market by +4.4% (51,191 vs 49,035 tons), due to the recovery of the restaurant business channel and direct sales that increased by 4 % (10,990 vs 10,570 tons). Spain is a fast-growing market for Parmigiano Reggiano (+12.4% with 999 tons vs 889 tons in the third quarter of 2021). Good performance was also recorded in the United States which is a key export market for the Parmigiano Reggiano PDO (+8.2% with 10,326 vs 9,539 tons) and by France (+7.2% with 9,323 vs 8,697 tons). Japanese market grew by 51% (632 vs 419 tons) and Australia recorded a +12.7% growth (381 vs 338 tons).

“The first nine months of 2022 have confirmed the ‘reward’ that consumers have continued to give us since the pandemic, showing loyalty towards the values of our PDO product with a sales volume increase of 2.9%,” commented Nicola Bertinelli, President of the Parmigiano Reggiano Consortium.

He added: “Despite the favourable results, we are concerned for the Italian economic situation and for the difficulties families are going through because of price and energy cost increases. For this reason, the Consortium has adopted a package of extraordinary measures amounting to 850 thousand euros: this will cover promotional activities in collaboration with the most important Large Retailers, aimed at increasing demand at a time of great uncertainly to avoid decrease in the consumption of our product.”

To find a balance between demand and supply in the market and further protect the product, the General Meeting also discussed the rules governing the production of cheese similar/comparable to Parmigiano Reggiano, changing the Articles of Association and prohibiting Parmigiano Reggiano dairies from producing other types of cheese comparable to or mistaken with the PDO product. 

-Ends-

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