Italy: Significant growth for cured meat exports in the first half of 2024
An undoubtedly important result, on which, however, many shadows loom: some linked to the tense international context and its numerous risks, others, those that most closely threaten growth, due to the difficulties that the sector is experiencing, in particular the high cost of raw materials and the presence of African Swine Fever (ASF).
In fact, ASF has represented and represents the most significant obstacle to exports, due to the foreclosure of important markets such as the Chinese one and the existence of many restrictive measures against imports of Italian cured meats, as in the case of Japan.
Furthermore, the expansion of the area of the country subjected to restrictions, in particular the involvement of the Province of Parma following a positive finding for ASF in wild boars at the end of April, has further complicated the situation by slowing down exports of cured meats to third countries, especially the USA and Canada.
In fact, the period April-June saw exports of Italian cured meats reach the milestone of 58,456 tons (+15.0%) for a value of 568.4 million euros (+6.0%), thanks to the increase in shipments to community partners (+20.8% in volume and +7.4% in value), net of which there is a strong reduction in exports to third countries (+1.1% in volume and +3.1% in value compared to the same period in 2023).
During the first half of 2024, imports of cured meats also showed growth, rising to 26,142 tons (+5.8%) for a value of 147.9 million euros (+4.2%). Despite this increase, the trade balance of the sector rose to 975.1 million euros, up (+11.1%) compared to the first half of 2023.
The sector's exports, in terms of turnover, showed a faster pace than both the food industry (+8%) and, above all, the country's overall growth (-1%).
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