Expensive in Israel: Wissotzky also raises the price of its products

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by Ifi Reporter Category:Financial Aug 6, 2018

Wissotzky also raises the price of its products. This is due to the increase in Tnuva products. Last week, Israel's largest tea company announced to retailers that it would raise prices of chai and the "magical garden" series by 10 percent. The price hike will be implemented this month. They said they had not raised prices in the last seven years
  Meanwhile, the company "Salt of the Earth" yesterday announced to retailers after the holidays will raise its products that are not under supervision.

Tnuva, the largest food company in Israel, raises the prices of dairy products not under the price control order by 2.2 percent. Among the unregulated products whose price will rise: salty cheeses, yellow cheeses on the shelf, special cheeses, delicacies, milk drinks and some yogurts.
The company refrained from raising prices for one year, based on the assessment that when it was submitted to Finance Minister Kahlon and Minister of Agriculture Uri Ariel, the recommendation of the price control committee, they would approve it with their signatures. However, although the target price began to rise in January 2017 and continued with the trend, the price of regulated milk products did not increase accordingly. Tnuva said, "The company will continue to act responsibly and fulfill its commitment to the consumer, the farmers and the Israeli economy, will continue to provide a range of high quality products and expects the government to act responsibly and responsibly towards local industry and agriculture.
From the beginning of 2017 to last month, the target price jumped 10.7%, so its price is NIS 2.07 per liter. This sharp rise in the main raw material in the dairy industry was absorbed entirely by the dairies. Against the background of the sharp rise in the price of the target, Ariel adopted the recommendation of the Prices Committee from March to raise the prices of regulated dairy products by 3 percent and 4 percent. Following the decision, the companies Tnuva and Tara petitioned the companies.
Tnuva will raise its prices vis-a-vis retailers, so that some of them may not raise consumer prices, at least in the first stage.
Tnuva's announcement to the press states that the raw milk, whose price is controlled by the state, "constitutes about 50% of the cost of production
The price led to a 6% increase in Tnuva's production costs. In financial terms, this is an additional cost of NIS 160 million for Tnuva. By the end of the year, this increase will reach NIS 200 million
 "Between January 2017 and July 2018, the price of raw milk rose by 12 agorot, and in July 2018 its price rose again by 8.23 ​​agorot, so that the cumulative increase in the price of raw milk is 20.23 agorot per liter (10.7%)"
 Tnuva said that the company will continue to act responsibly and fulfill its commitment to the consumer, the farmers and the Israeli economy, will continue to supply a range of high quality products and expects the government to act responsibly and responsibly towards local industry and agriculture.

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