Italy Bails Out Big Cheese -Euro set to fall

[AlfredJPruffock]

Parmigiano Reggiano, Italy's King of Cheese, is in trouble. Robust in flavour and crumbly, it is a classic of Italy's artisan food traditions, made by hand by 430 craft producers around the city of Parma. But with Italian consumption falling as costs soar, almost a third of producers now face bankruptcy. Now Italy's Minister of Agriculture, Luca Zaia, has come to the rescue, promising to buy 100,000 Parmigiano Reggiano cheeses, and also 100,000 of its less costly competitor, Grana Padano.


This is Italy's big cheese bailout. Essentially, the government will be gobbling up 3 per cent of Parmesan production at an estimated cost of €50m (£44.7m) and distributing it to the needy. Each 35kg wheel of Parmigiano costs between €8 and €8.50 to make, but the wholesale price has declined for the past four years even as the cost of milk and energy has soared.

"We just need a bit of time to reorganise ourselves," said Giorgio Apostoli of Coldiretti, Italy's agriculture lobby. "This is a historic product with an ancient tradition. There ought to be policies to safeguard those who produce it."

But Professor Giuliano Noci, of the Milan Polytechnic, said a better solution would be for the government to "launch a sustained marketing campaign in the emerging markets such as Brazil, Russia and India, to educate consumers to appreciate the quality" of the cheese.

The ECB predicted a fall of 10 per cent for the Euro - a despairing Herr Gledelocks comments were "'For us - it is zertainly Hard Cheeze'"

[EternalOptimist]

forget cheese futures, think big, think outside the box. With Irish pork bellies in trouble, my money is on Cumberland sausage

[ratewhore]

Is it considered government subsidy if the govt buy it and eat/destroy it?

Either way, I love the stuff - Belissimo!!!

[Sysman]

Each 35kg wheel of Parmigiano costs between €8 and €8.50 to make, but the wholesale price has declined for the past four years even as the cost of milk and energy has soared.

I'll buy a wheel or two at those prices. It wouldn't make a bad Plan B, although there would be always the temptation to eat into the profits.

[BrilloPad]

Didn't Jesus say "blessed are the cheesemakers"?

[cailin maith]

I'll buy a wheel or two at those prices. It wouldn't make a bad Plan B, although there would be always the temptation to eat into the profits.

Me too....

[dang65]

Didn't Jesus say "blessed are the cheesemakers"?

Obviously it's not meant to be taken literally. It refers to any manufacturer of dairy products.

[cailin maith]

Obviously it's not meant to be taken literally. It refers to any manufacturer of dairy products.

I dunno, I don't think he would say blessed are the cottage cheese makers, because that stuff is minging!

[BrilloPad]

Obviously it's not meant to be taken literally. It refers to any manufacturer of dairy products.

Shut up big nose.

[Francko]

Parmigiano Reggiano, Italy's King of Cheese, is in trouble. Robust in flavour and crumbly, it is a classic of Italy's artisan food traditions, made by hand by 430 craft producers around the city of Parma. But with Italian consumption falling as costs soar, almost a third of producers now face bankruptcy. Now Italy's Minister of Agriculture, Luca Zaia, has come to the rescue, promising to buy 100,000 Parmigiano Reggiano cheeses, and also 100,000 of its less costly competitor, Grana Padano.


This is Italy's big cheese bailout. Essentially, the government will be gobbling up 3 per cent of Parmesan production at an estimated cost of €50m (£44.7m) and distributing it to the needy. Each 35kg wheel of Parmigiano costs between €8 and €8.50 to make, but the wholesale price has declined for the past four years even as the cost of milk and energy has soared.

"We just need a bit of time to reorganise ourselves," said Giorgio Apostoli of Coldiretti, Italy's agriculture lobby. "This is a historic product with an ancient tradition. There ought to be policies to safeguard those who produce it."

But Professor Giuliano Noci, of the Milan Polytechnic, said a better solution would be for the government to "launch a sustained marketing campaign in the emerging markets such as Brazil, Russia and India, to educate consumers to appreciate the quality" of the cheese.

I do hope that this means that people will start appreciating a much more flavoured cheese like Pecorino. I am all for it. Let's boycott parmigiano and give me Pecorino Romano all the time. And fantastic for a carbonara and with fava beans.