Italian Pecorino Romano Cheese Price Peaks at W40

The price of Pecorino Romano Dop in Italy has skyrocketed, with the price beginning to rise in November 2020 and reaching USD 9.11/kg by December 2021. The price has increased exponentially since April 2022, hitting USD 10.69/kg, and peaks at W40 between USD 12.44-13.12/kg, beating all records. The price increase is due to several factors, including limited production, improved quality, marketing initiatives, and demand increase brought on by the pandemic for its use in traditional meals. Given that the US is the primary export market with a share of 52% and the exchange rate permits US consumers to see fewer price rises, the 2022 Pecorino cheese production in October will not be enough until May 2023 if the current demand level is maintained.