Increase In Glass Prices Negatively Impacts The Entire Food Processing Industry in Italy

At the end of December 2021 the price of glass in Italy started to sharply increase (+12%) YoY. This trend continues in 2023 (+21%), affecting the entire food processing and manufacturing industry, including the wine sector, resulting in lower profit margins and little profitability for companies. The glass packaging of 180gr chocolate spread used to be sold in the supermarkets at the average price of USD 2.90. Unfortunately the recent increase in glass prices forced suppliers to raise the final average price to USD 3.28/per unit. These price increases resulted in requests to freeze prices from large-scale distribution and processing companies. The main suppliers of glass to the Italian food market have decided to provide estimation on prices weekly and on-demand.