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Home > USA > Business events
ITALY'S FOOD & DRINK INDUSTRY SEEKS CONSOLIDATION IN THE UNITED STATES
Ahead of the 53rd Summer Fancy Food fair (www.specialtyfood. com), taking place in New York on 8-10 July, Italian companies aim to consolidate the positions they already gained in the American food and drink market which is most exposed to international competition. At the same time, Italian food & drink industry is looking to improve its product line with an increasingly qualified and diversified presence of traditional products. Summer Fancy Food is considered to be the most important food & drink trade fair in the United States. The 2007 edition expects 2150 exhibitors (preliminary figures) occupying 60 pavilions where 100.000 food and drink products from all over the world will be put in display.
ICE (Italian Institute for Foreign Trade) will coordinate a team of Italian companies: more than 240 firms will be present, occupying a 2.220 square metre exhibition space. According to data provided by the organisers (Nasft), the 2006 edition of Summer Fancy Food registered 2240 exhibitors from 74 countries spread over a 30.000 square metre surface. Over 22.000 operators visited the fair - which offers new opportunities to export and distribute food & drink products in the United States as well as a chance to engage in partnerships and interchanges with other companies.
The United States is one of the most important trading partners for Italy in the food and drink sector. The American market imported Italian products for a total value of EUR2.206 million in 2006, an 8% increase compared to 2005. On the other hand, US exports to Italy fell by 7.6% to EUR424 million. Overall, the Italian trade surplus in 2006 increased to EUR1.782 million (+12.5%). Italian wines were particularly appreciated: the value of exports increased by 4.6% in 2006 to EUR806.52 million. Even greater progresses were recorded for [olive] oil, up 9.4% to EUR513.17 million, and for dairy products, up 7.7% to EUR195.20 million. The demand for pasta remained stable: the value exports in 2006 was EUR152.45million (+3.4%). The increase in rice exports is also worth highlighting, up 43% to EUR5.96 million, as well as that for the confectionery sector, up 30% to EUR86.11 million.
In broad terms, Italian food and drink exports for 2006 increased by a total of 10.8%, reaching a value of EUR 16.8 million. Wine continues to set record results, both in terms of value and of volume: last year 17 million hectolitres of wine were exported (up 8.2% from 2005), for a total value of EUR3.1 billion (up 4.5% from 2005). According to estimates by Federalimentare (the Italian food & drink trade association, ndt), the industry's turnover in 2006 reached EUR109 billion. The ten major Italian food and drink products were responsible for 60% of total exports.
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