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In January 2017, hemp cultivation became legal pursuant to Italian law No. 242/2016 promoting hemp cultivation and its industrial uses, leading to a sector revival, with more than 800 farms cultivating 4,000 hectares (ha).

FAS/Managua projects Nicaraguan sugar production and exports recovering in marketing year 2023/24, despite deteriorating political and economic conditions in Nicaragua, with the anticipated arrival of an El Niño weather system and drier weather in the latter half of 2023.

According to the latest data released by the National Association of the Canned Vegetables Industry (Anicav), Italy is the third largest processed tomato producer in the world (behind the United States and China), representing approximately 14.8 percent of the global production and 56.5 percent of Europe’s production, with revenue of nearly $5.4 billion in 2022.

FAS/Managua projects marketing year 2023/24 Nicaraguan peanut production to return to historic high levels, near 200,000 metric tons on an in-shell basis, as deteriorating political conditions and rising economic instability improve the risk-reward calculations of peanuts relative to longer-term investments in sugar or cattle.

The Italian food-processing industry continues to be highly fragmented, characterized by growing consolidation of smaller companies.