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The Parmigiano Reggiano consortium approves the 2021 budget

Record revenues of 51.8 million are expected

The general meeting of the Parmigiano Reggiano consortium members was held in live streaming, during which the Consortium approved the 2021 budget.
The president Nicola Bertinelli, with his introductory report, took stock of the health of the supply chain, highlighting the production growth and the need to invest in communication to open new market spaces and place Parmigiano Reggiano at a profitable price.

2020 sees the production of Parmigiano Reggiano grow by 5% overall: the 3.95 million wheels expected represent the highest level in the millennial history of the product. In 2021 a slight increase in production is expected, which will bring the number of wheels to 3.98 million (+ 1% compared to 2020). The importance of this milestone is reflected in the 2021 Budget, approved during the general meeting: the budget provides for a record amount of 51.8 million Euros in total revenues (against 38.4 in 2019 and 33.4 of 2018). 26 million euros (compared to 22.4 million in 2019 and 20.3 in 2018) are destined for promotional investments for the development of demand in Italy and abroad: almost 4 million more than the previous year.

Exports represent one of the main levers to support the increase in production: 9 million have been allocated for the development of foreign markets. In Italy, the investment in promotional activities (in-store programs, advertising campaigns, sponsorships, fairs and events, direct sales) will amount to € 17 million. An investment of 6 million euros has been made for dairies to promote virtuous behavior: 3.5 million will be allocated to improve the performance of the area in terms of animal welfare, the reference model is the one developed by the national reference center for animal welfare (CReNBA); 2.5 million will instead be used to create the necessary infrastructure for the "milk filling". The program, introduced with the "Strategic Plan" of last June, provides, in the event of overproduction or crisis, to be able to use the milk suitable for producing Parmigiano Reggiano for other uses.

"With the crisis of early 2020 averted, it is more than ever necessary to invest in 2021 for future goals and to manage the increase in production", says Bertinelli. "The market continues to give positive confirmations for demand, both in Italy and abroad, and the outcome of the US elections could lead to a re-discussion of duties. The reopening of the hereca channel will see us ready with an aggressive and oriented marketing plan. to the development of demand. However, 2021 will also be a year of challenges: I am thinking of Brexit, of the effects of the post-Covid crisis that will impact on consumption, of the production growth of our sector which shows no signs of slowing down. 2021, the resources of the Consortium will reach the maximum in history, over 51 million euros. We therefore have the necessary tools to plan our future responsibly and to position ourselves on a growth trajectory".

Among the innovations announced during the meeting, the further development of the "40 month Premium Project". The Consortium presses on the accelerator and creates an additional ceiling that brings the total budget of the project to € 5 million. Thanks to the great work that has been done on the brand, in 3/4 years the 40-month segment will be able to represent 3-4% of the total consumption, that is to say over 100 thousand forms. The Shareholders' Meeting also approved the temporary increase of the ordinary contribution 2022/2024 for the implementation of extraordinary intervention actions for the development of the Parmigiano Reggiano supply chain.

"Parmigiano Reggiano is the symbol of Italian agri-food, of the DOP product that focuses on the link with the territory of origin", recalled the regional councilor for agriculture Alessio Mammi. "I would like to thank the protagonists of the success of this product who never stopped even in the difficult conditions that generated the pandemic. We must set ourselves some objectives shortly: to counteract the volatility of prices, an aspect that represents a danger for many producers and to try to make the most of the product, guaranteeing producers adequate remuneration for a unique and extraordinary cheese. There is a need for the system to be more autonomous and for value to be redistributed to producers with greater balance in the supply chains: system cohesion and team spirit are needed. In recent months, the regional system has provided contributions and helped companies, for example by scrolling through the rankings of the milk supply chain for a value just under 20 million euros: today there is a need to implement new projects on corporate investments, research and innovation, market and promotion to conquer new markets, making the best use of the economic instruments that Europe guarantees us".

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EFA News - European Food Agency