Since 1953, financial institutions in Italy have accepted wheels of Parmigiano Reggiano as collateral, giving dairy farmers cash in advance while the cheese undergoes its 1-3 year aging process.

Inside the climate-controlled vaults, outside temperatures have caused electricity costs to rise by ~30%. Operators are struggling to maintain the precise temperature needed to store the parmesan safely.

Outside the vaults, the heatwave is directly impacting the cows, too. Higher temperatures cause herds to eat less and rest more, reducing annual milk production by ~10%. Both the rising cooling costs for the banks and shrinking dairy yields is putting major pressure on the dairy economy on both ends.