Consumption and price trends for Balsamic Vinegar of Modena
Italy(prwindow)-
November 19 2007 -Press release by Consortium for Balsamic Vinegar of Modena
2007 is showing positive results again for the industry of Balsamic Vinegar of Modena: despite the consumption growth trend has been leveling compared to the average growth of the previous 5 years (which showed double-digit figures), the first industry forecasts for 2007 show an increase in volume of about 5% vs the previous year, with an expectation for a total output of more than 80 million liters.
As far as concerns costs and prices, the industry of Balsamic Vinegar of Modena is strongly influenced by the wine and grape markets, particularly for grape must and this aspect will strongly affect the 2008 quotations.
In fact, data released by the agricultural organizations after the 2007 harvest show that the results of the grape collection were the worst in the last 50 years, with a huge decrease in quantity and tensions on demands, which caused a price increase for these raw materials of up to 35% more compared to 2006.
Furthermore, strong increases are also expected in packaging materials – especially for glass bottles -, transportation and services: forecasts are that the combined effect of all the said increases will lead to increases in price lists of about 10%-15%.
Modena, 14 Novembre 2007
For any additional information please contact:
Consorzio Aceto Balsamico di Modena
E-mail: info@consorzioacetobalsamico.it
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