After postponing the increase in the price of food products after Shavuot, this morning (Thursday), at the beginning of June, the food giants raised the prices of many products. Among the companies that raised or are expected to raise prices later this month are Tnuva, Mers, Ben & Jerry's, Asem, Strauss Willifood.
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The first in the wave of price increases were Asam and Tnuva. After Strauss raised the prices of its products by an average rate of up to 6% already in May, Tnuva announced an increase in the prices of some of its products . Tnuva has informed its customers in the retail and institutional market of an update to the price lists of delicatessen products, Mama Chicken and Olivia, at an average rate of about 7.4%.
She was also joined by Tara, and the two raised the dairy products under supervision after the announcement of the price supervision committee in the Ministry of Agriculture. After that, it was decided in the liquor companies to raise the prices of products that are not under supervision, such as milk substitutes, cottage cheese and Bulgarian cheese. As a result, Strauss also raised the prices of milk, cheese and yogurt by 2.33%.
Among the companies that have increased and are expected to increase the prices of their products later this month are Ben & Jerry's, which are expected to increase prices by another 15%, Mama Chicken, Deli and Olivia products will become more expensive by 7.4%, Snickers, Bounty and Orbit chewing gum will also increase their prices. The Tirat Zvi sausages will also become more expensive by 5%.
Tnuva claimed that the price update was in light of the sharp increase in the prices of goods and raw materials in the last two years, including the prices of flour, chicken breast, beef, oil and vegetables and other inputs, such as electricity, fuel, water and labor wages. We also noted that the raw material chicken breast, which constitutes at least 50% of the composition of Mama Chicken products, became more expensive for the company within two years by about 25% and the price of flour became more expensive for delicatessens by about 43%.
An inspection conducted by the Division for Research, Economics and Strategy at the Ministry of Agriculture shows that the prices of raw milk in Israel are low or similar to the prices of milk in a number of European countries. According to the data of the Ministry of Agriculture and data of the European Commission from the month of February, the price of Israeli raw milk stands at 57.98 euros per 100 kg, compared to Spain, whose price of raw milk in its territory stands at 58.5 euros and Malta at 60.6 euros. In other countries, including Italy and Austria, The price of raw milk is very similar to its price in Israel.
Diplomat also informed its customers today that due to price increases by its suppliers abroad, starting on the first of July, it will be forced to update the prices of some of the coffee, cookies and tuna products that it distributes and markets, at an average rate of 6.1%.
The prices of tuna products will be updated at a rate not exceeding 4%. Thanks to the policy of lowering the duty on imported fish, the company was able to reduce the increase in prices and delay it for the last year, despite a high increase in the raw materials of the tuna. As a reminder, the above products were not included in the price increases that took place in the last year.
Meanwhile, the Fuel and Gas Administration of the Ministry of Energy and Infrastructure also announced that the prices of regulated fuel products, which are sold to consumers at gas stations, have increased this morning. The maximum price for a liter of unleaded 95 octane gasoline for a consumer at a self-service station (including VAT) will be NIS 6.85 per liter, an increase of four shekels and 0.59% from the previous update on May 1. The price for full service (including VAT) will be At NIS 7.06 per liter – an increase of 0.57% from its price at the beginning of May.
The lowest fuel price was recorded in May 2020 and was NIS 4.79 per liter in self-service. The highest price was recorded in September 2012 – NIS 8.25 per liter in self-service.
