Italy's Heatwave Won't Melt Parmigiano Reggiano or Its Cheese Banks

As Italy swelters under near-record temperatures, social media has been spreading alarming claims that the heatwave is endangering Parmigiano Reggiano cheese and the banks that use cheese wheels as loan collateral. But the reality is far more reassuring.

Parmigiano Reggiano, a hard cheese made under strict rules in northern Italy's Emilia Romagna region, is aged for at least 12 months and often up to 40. To help producers manage cash flow, some banks accept the aging wheels as collateral. The largest such facility, Credito Emiliano's Magazini Generali delle Tagliate (MGT), stores about 500,000 wheels valued at €300 million.

MGT's general manager, Giancarlo Ravanetti, confirmed that despite the heat — which has regularly pushed temperatures near 40°C — the warehouses are operating normally. Energy use for cooling has risen 30%, but the cheese and the bank's operations are not at risk. He noted that recent investments in efficient refrigeration, insulation, and solar panels have strengthened the facilities.

The Parmigiano Reggiano consortium also downplayed the threat. While acknowledging that extreme heat can cut milk yields by around 10%, it said production is "not currently at risk." Cows are fed preserved forage, and 70% of the milk comes from farms equipped with fans, water sprays, and environmental controls. The rest comes from cooler hill and mountain areas.

So, while Italians may be sweating, their beloved cheese is aging comfortably — and the banks holding it are just fine.